##TheStrategyLab Price Action Chat Room Logs

Note: The chat log below represents the free chat room called #FuturesTrades . Also, any trader can use the chat room to post their trades. Simply, you don't need to be a client of TheStrategyLab.com to use the chat room nor do you need to be a price action only trader (no indicators) because some members use indicators while others do not.

Therefore, we welcome traders with their own methods and different perspective of the markets.

Also, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisments for guest visitors. More information about #FuturesTrades @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm

Further, to prevent the usual mix-up about our different chat rooms, most of our fee-base clients do not use chat rooms just like most retail traders do not use chat rooms. Yet, the few clients that do use chat rooms, our fee-base clients are discussing market analysis or trade signals via concepts from our strategies in the private chat rooms called #VolatilityTradingTSL or #SwingTradingTSL and they're not allowed to do such in #FuturesTrades.

By the way, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that #FuturesTrades is a serious professional trading chat room and we expect members to act professional.

------------------------

Session Start: Tue Jul 14 09:23:29 2009
Session Ident: #futurestrades
[09:23] * Now talking in #futurestrades
[09:23] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:30] <Nesi> good morning and good trading today
[09:31] <werner> and dito
[09:31] <drt>
[09:35] <@NihabaAshi> Long TF @ 491.20 -> small size
[09:35] <@NihabaAshi> 3 only
[09:35] <@NihabaAshi> she's moving fast
[09:37] <@NihabaAshi> Exited all TF Long @ 491.30 --> + 0.1
[09:37] <jbuch> Shorts ES @ 900.75
[09:38] <+werner> Long NQ @ 1446.25
[09:38] <+jbuch> Covered Remainder ES Short @ 899 --> + 1.75
[09:39] <@NihabaAshi> Shorts TF @ 490.10 -> small size
[09:39] <@NihabaAshi> 3 only
[09:39] <+werner> Exited all NQ Long @ 1444.00 --> - 2.25
[09:39] <@NihabaAshi> price action moving too fast to get a decent entry
[09:39] <+werner> Long NQ @ 1444.00
[09:40] <+werner> Exited all NQ Long @ 1446.25 --> + 2.25
[09:40] <+werner> pfff too fast
[09:41] <@NihabaAshi> Anybody else watching the "knee jerk" back n forth price action ??
[09:42] <+werner>
[09:42] <@NihabaAshi> If you don't see it...I must be having data problems then.
[09:43] <+werner>
[09:43] <+werner> no prop here i think
[09:44] <@NihabaAshi> Ok...if you had it then I was going to say it was an "intraday market tendency"...pointing the price action downwards via a pending BIG MOVE.
[09:44] <@NihabaAshi> However, because you don't have it...I must be having data problems.
[09:44] <+jbuch> Long ES @ 897
[09:44] <pat255> N & others
[09:45] <+werner> ok
[09:45] <+jbuch> Exited 1/2 ES Long @ 898.25 --> + 1.25
[09:46] <+Nesi> Shorts ES @ 896.00 -> Add
[09:47] <@NihabaAshi> weak support @ 485.80
[09:47] <+jbuch> Exited ES Long @ 896.5 --> - 0.5
[09:47] <+jbuch> Reverse and Enter Short ES @ 896.5
[09:47] <+jbuch> Covered all ES Short @ 896.25 --> + 0.25
[09:51] <@NihabaAshi> Covered all TF Short @ 489.00 --> + 1.1
[09:51] <@NihabaAshi>
[09:51] <+jbuch> Long ES @ 896.75
[09:51] <+pat255> hmm not bad
[09:52] <@NihabaAshi> I'm still getting those sudden data burst of price action on my charts and broker platform....
[09:52] <@NihabaAshi> I must be having ISP connection problems.
[09:52] <+jbuch> Exited 1/2 ES Long @ 897.75 --> + 1
[09:52] <+jbuch> Exited Remainder ES Long @ 897 --> + 0.25
[09:53] <@NihabaAshi> Shorts TF @ 488.70 -> small size
[09:53] <@NihabaAshi> 3 only
[09:54] <+jbuch> dang what a battle
[09:55] <+pat255> y
[09:57] <+jbuch> Long ES @ 896
[09:57] <@NihabaAshi> geeesh
[09:57] <@NihabaAshi> price action on my charts looks schizo
[09:58] <+pat255> y no direction yet
[09:59] <+jbuch> Exited all ES Long @ 895.25 --> - 0.75
[09:59] <@NihabaAshi> Covered all TF Short @ 488.50 --> + 0.2
[09:59] <@NihabaAshi> early exit
[10:00] <@NihabaAshi> price action on my charts seems weird with the data bursts
[10:01] <+Nesi> inventories numbers out
[10:04] <@NihabaAshi> Long TF @ 489.90 -> small size
[10:04] <@NihabaAshi> 3 only
[10:05] <@NihabaAshi> Exited all TF Long @ 489.20 --> - 0.7
[10:06] <+werner> djeez every morgning the same weird wild price action
[10:06] <+werner> ....i take my mower and be back later
[10:07] <@NihabaAshi> Long TF @ 489.80 -> medium size
[10:07] <@NihabaAshi> 4 only
[10:08] <@NihabaAshi> intuition in reaction to prior trade
[10:08] <@NihabaAshi> Exited 1/2 TF Long @ 491.10 --> + 1.3
[10:09] <@NihabaAshi> I'm trying to be aggressive today in comparison to yesterday's morning trades...
[10:10] <@NihabaAshi> I got caught taking a break (rest) from trading when that big bounce started.
[10:10] <@NihabaAshi> Resulting in a big miss Long signal.
[10:14] <@NihabaAshi> Exited all TF Long @ 489.90 --> + 0.1
[10:14] <@NihabaAshi>
[10:15] <@NihabaAshi> didn't think those remainders would be picked off so easily
[10:17] <@NihabaAshi> That's a lot of "pin ball machine" like price action and we are near the open price
[10:17] <+pat255> tf u never know
[10:20] <+pat255> bulls don't want to see break 895
[10:28] <TraderG> 894.75 to be exact )
[10:29] <+jbuch> Long ES @ 896.5
[10:30] <+jbuch> Exited 1/2 ES Long @ 897.25 --> + 0.75
[10:34] <+jbuch> Exited Remainder ES Long @ 895.75 --> - 0.75
[10:37] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[10:38] <+TraderG> jb your broker send u his love
[10:59] <+TraderG> 50% of the time the body size of a candle is bigger than 50% of it's range on a daily basis
[11:02] <+TraderG> only 20% of every other bar will NOT have an overlap on an intraday basis
[11:02] <+TraderG> 30 minutes and over time frame
[11:03] <+TraderG> on the 1 min time frame the overlap of adjacent bars is 60%
[11:04] <+TraderG> thought it was interesting
[11:06] <@NihabaAshi> volatility increasing
[11:08] <+codehead> short ES 2c 897.00 <paper>
[11:08] <+codehead> 3 pt stop, 2 pt target
[11:12] <@NihabaAshi> Shorts TF @ 491.200 -> small size
[11:12] <TradeLancer> grueling price action (herky jerky, low volume) tuff to pick a winner that continues to follow thru
[11:12] <@NihabaAshi> 2 only
[11:13] <@NihabaAshi> Shorts TF @ 491.20 -> small size
[11:14] <@NihabaAshi> this thing is going to spike...hopefully down and not up
[11:14] <+TraderG> high resistance area based on Vol Prof
[11:14] <@NihabaAshi> tighten trail stop
[11:15] <@NihabaAshi> Covered all TF Short @ 491.80 --> - 0.6
[11:15] <+TraderG> WAS high resistance area
[11:15] <@NihabaAshi> Long TF @ 492.10 -> small size
[11:16] <@NihabaAshi> 3 only
[11:16] <@NihabaAshi> intuition
[11:17] <@NihabaAshi> tough resistance area
[11:19] <+TradeLancer> tf didn't move-up off the 3x swing point level like i expected to see for a sustained up move, especially @ the time es & ym where looking so weak, i gotta mark this for refernce
[11:20] <@NihabaAshi> volatility declining fast...
[11:20] <@NihabaAshi> I'm expecting another volatility spike...
[11:20] <@NihabaAshi> tightening trail
[11:26] <@NihabaAshi> Exited 1/3 TF Long @ 493.30 --> + 1.2
[11:28] <+codehead> stopped out -3 ES <paper>
[11:28] <@NihabaAshi> trail @ profit
[11:28] <+codehead> but short again from the stop! 900.00 <paper> 2 pt target 3 pt stop
[11:29] <+codehead> just a mechanical trade, tracking--two stop out in a row nullifies the trade for the day
[11:29] <+codehead> was pretty sure stop would hit when he got past 997 tho
[11:30] <+codehead> so far yesterday's support holding strong still
[11:30] <@NihabaAshi> Exited 1/3 TF Long @ 494.20 --> + 2.1
[11:31] <@NihabaAshi> by the way, I've been bearish all day
[11:32] <@NihabaAshi> glad I'm not married to my bias
[11:32] <+TraderG> your wife would be upset
[11:33] <+TraderG> Bigamy is illegal
[11:33] <@NihabaAshi> she doesn't mind sharing me with the market.
[11:33] <+TraderG> ))))
[11:35] <@NihabaAshi> So far today, it's just a "trend contuation" off of yesterday's lows.
[11:40] <+codehead> we should test overnight high
[11:48] <@NihabaAshi> exit stop raised TF @ 492.30
[11:49] <@NihabaAshi> be back later...will post late trade result if stop is hit
[11:49] <+pat255> vn in this move
[11:49] * NihabaAshi is now known as NihabaAshi_away
[11:51] <+jbuch> Long ES @ 900.75
[11:52] <+codehead> should get back to 904, so expect my paper trade to stop out
[11:52] <+codehead> plus i have a 903.00 upside target in site
[11:53] <+pat255> took a S paid the price ...stopped -2
[11:53] <+jbuch> Exited 1/2 ES Long @ 901.5 --> + 0.75
[11:57] <+jbuch> Exited Remainder ES Long @ 900.75 --> 0
[12:06] <+jbuch> got back just in time for the sideways chop looks like.
[12:21] <+codehead> exit ES short +2.00 <paper>
[12:22] * NihabaAshi_away is now known as NihabaAshi
[12:23] <@NihabaAshi> Exited all TF Long @ 492.30 --> + 0.2
[12:27] <+codehead> .500 retracement hit
[12:27] <+codehead> on ES
[12:28] <gabe> Long ES @ 898.00
[12:32] <+gabe> Exited all ES Long @ 898.75 --> + 0.75
[12:37] <+jbuch> Shorts ES @ 898.25
[12:39] <@NihabaAshi> Did you guys know that the ex-baseball player Lenny Dykstra was a day trader for awhile after retiring from the major leagues
[12:39] <@NihabaAshi> http://money.cnn.com/magazines/fortune/ ... /index.htm
[12:40] <@NihabaAshi> Anyways, all of his businesses have failed including his day trading...he's now in bankruptcy court.
[12:41] <+jbuch> Long ES @ 898.5
[12:42] <@NihabaAshi> http://www.reuters.com/article/domestic ... mesticNews
[12:43] <+jbuch> Exited all ES Long @ 897.75 --> - 0.75
[12:43] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[12:47] <rickf> gday all
[12:48] <+jbuch> Long ES @ 898.25
[12:49] <+rickf> half of my SPX option spread got filled today (after sitting for 4 days)
[12:50] <+jbuch> Exited 1/2 ES Long @ 899.5 --> + 1.25
[12:50] <+rickf> nice scalp
[12:52] <+jbuch> Exited Remainder ES Long @ 900 --> + 1.75
[12:52] <+jbuch> thanks
[13:02] <+jbuch> Long ES @ 898.25
[13:03] <+jbuch> Exited 1/2 ES Long @ 899.75 --> + 1.5
[13:04] <+jbuch> oops entry was at 899.25.
[13:06] <+jbuch> Exited Remainder ES Long @ 899.75 --> + 1.5
[13:08] <+rickf> short es 900
[13:11] <+jbuch> Long ES @ 899.5
[13:14] <@NihabaAshi> rickf...thanks for the blog listings @ viewtopic.php?f=41&t=241
[13:14] <+rickf> exit es 898.75 +1.25
[13:14] <+jbuch> Exited all ES Long @ 898.75 --> - 0.75
[13:14] <+rickf> happy to help
[13:16] <+rickf> glad to have that drop down - almost quit for a tick just because of the psychological battle at 900
[13:17] <+rickf> that trade was done on a 233-t chart, not my usual 512-t
[13:18] <+rickf> still not sure if i am comfy trading the tf ... the b/a can get a bit jumpy, but it does seem to have good momentum when it does move
[13:25] <+jbuch> Long ES @ 898.25
[13:25] <@NihabaAshi> falling asleep
[13:26] <@NihabaAshi> this time I've set some price alerts levels...will be back later when my audio alerts get trigger.
[13:26] * +rickf kicks wrbtrader
[13:26] <+rickf> oops
[13:26] <@NihabaAshi> taking a little nap
[13:26] * NihabaAshi is now known as NihabaAshi_pillow
[13:28] <+jbuch> Exited 1/2 ES Long @ 899 --> + 0.75
[13:34] <+jbuch> Exited Remainder ES Long @ 898.5 --> + 0.25
[13:36] <+jbuch> Long ES @ 899
[13:39] <+jbuch> Exited all ES Long @ 899 --> 0
[13:46] <+jbuch> Long ES @ 899.75
[13:46] <+jbuch> chasing
[13:53] <+rickf> 8/10 SPX contracts filled today ... after 4 days, all of a sudden i get fills
[13:53] <+jbuch> Exited Remainder ES Long @ 898.75 --> - 1
[13:58] <+jbuch> Long ES @ 898.5
[13:59] <+rickf> too close to 900 to play this comfortably for me
[14:01] <+jbuch> Exited all ES Long @ 899.25 --> + 0.75
[14:02] <+jbuch> oops
[14:02] <+jbuch> Exited all ES Long @ 898.25 --> - 0.25
[14:19] <+jbuch> Long ES @ 899.5
[14:25] <+jbuch> Exited all ES Long @ 899.75 --> + 0.25
[14:26] <+jbuch> Shorts ES @ 899.5
[14:28] <+jbuch> Covered 1/2 ES Short @ 898.5 --> + 1
[14:31] <+jbuch> Covered all ES Short @ 897.75 --> + 1.75
[14:36] <+jbuch> Long ES @ 899.5
[14:37] <+jbuch> Exited 1/2 ES Long @ 900.5 --> + 1
[14:41] <+jbuch> Exited Remainder ES Long @ 900.5 --> + 1
[14:45] * NihabaAshi_pillow is now known as NihabaAshi
[14:46] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[14:50] <@NihabaAshi> Shorts TF @ 494.10 -> small size
[14:50] <@NihabaAshi> 2 only
[14:51] <+rickf> welcome back
[14:52] <@NihabaAshi> FYI - I'll be trading Emini ES tomorrow and not TF due to the data problems I'm having in TF while not having in the other trading instruments.
[15:00] <+jbuch> Long ES @ 900
[15:00] <+jbuch> Exited 1/2 ES Long @ 901 --> + 1
[15:03] <+jbuch> Exited Remainder ES Long @ 900.5 --> + 0.5
[15:07] <+jbuch> good vol on these rejections
[15:10] <@NihabaAshi> Covered all TF Short @ 494.70 --> - 0.6
[15:11] <+jbuch> wow scary put an order in at 900.5 just as i got filled trade station froze
[15:12] <+jbuch> had to reboot
[15:12] <+jbuch> Long ES @ 900.5
[15:13] <+rickf> 10/10 SPX filled
[15:13] <+jbuch> Exited 1/2 ES Long @ 901.5 --> + 1
[15:13] <+jbuch> Exited Remainder ES Long @ 900.5 --> 0
[15:15] <+jbuch> u better hope that u don't want to get out of those to fast
[15:17] <+rickf> nope
[15:17] <+jbuch> pushing up tighter and tighter to 902
[15:18] <@NihabaAshi> Usually when price action is like this after 3pm est...a lot of volatility shows up soon at/after 3:30pm est
[15:19] <+jbuch> Long ES @ 901.5
[15:19] <+rickf> indeed .... coiling
[15:19] <+jbuch> Exited 3/4 ES Long @ 900.75 --> - 0.75
[15:20] <+jbuch> soon as i got that i didn't want it
[15:21] <+jbuch> Long ES @ 900
[15:23] <+jbuch> Exited all ES Long @ 900.75 --> + 0.75
[15:24] <@NihabaAshi> sneaky price action right now
[15:26] <+jbuch> Long ES @ 900.5
[15:27] <+jbuch> Exited 1/2 ES Long @ 901.5 --> + 1
[15:28] <+jbuch> exit stop set ES @ 899.75
[15:28] <@NihabaAshi> I hope nobody is "overtrading" in this junk.
[15:28] <@NihabaAshi> brokers are very happy today
[15:28] <+codehead> chart says 906
[15:29] <+jbuch> both my broker and I are happy for once
[15:29] <+codehead> it's almost screaming it--lol
[15:29] <@NihabaAshi>
[15:29] <+codehead> i'm undertrading it, only two trades today
[15:29] <+rickf> 1 for me
[15:29] <+codehead> :-)
[15:30] <@NihabaAshi> 3:30pm...lets see if some action shows up
[15:31] <+jbuch> 60 for me up $588.7
[15:31] <+TraderG> )
[15:31] <+Nesi> 60 RT.. jbuch?
[15:31] <+jbuch> this is gonna get my last 1
[15:31] <+Nesi> 588.7 minus comish?
[15:32] <+TraderG> i guess after
[15:32] <+jbuch> yup on the comish
[15:32] <+jbuch> a lot of those r multi contracts
[15:32] <+rickf> wow JB
[15:32] <+TraderG> how much r u paying per cont jb?
[15:32] <+rickf> 60 rt?
[15:32] <+jbuch> probably have 30 ish total trades
[15:32] <+rickf> yow
[15:32] <+rickf> ut if you're green that's what counts i guess
[15:33] <+jbuch> about 4.8
[15:33] <@NihabaAshi> Long TF @ 494.30 -> small size
[15:33] <+jbuch> range buy on the bottom seel on the top
[15:33] <@NihabaAshi> 2 only
[15:33] <@NihabaAshi> intuition
[15:33] <+jbuch> been a lot of tops and bottoms
[15:34] <@NihabaAshi> tight stop
[15:34] <+jbuch> I would have done much better if I had just gone all out at first target.
[15:35] <+rickf> fwiw saying i hadn't seen you trade that much before
[15:36] <+jbuch> Exited Remainder ES Long @ 900.75 --> + 0.25
[15:37] <+jbuch> yeah I traded way more than usual today
[15:37] <+jbuch> but reading the market well so
[15:37] <+jbuch> shoulda kept that 1
[15:37] <+jbuch> oops never mind
[15:38] <+jbuch> I am worn out though
[15:38] <+jbuch> my neck feels as though it is in a vice grip )
[15:38] <@NihabaAshi> Exited all TF Long @ 494.30 --> 0
[15:38] <@NihabaAshi>
[15:38] <+rickf>
[15:40] <+codehead> long 901.00 ES 1c <paper>
[15:40] <+codehead> 6 tick stop
[15:41] <@NihabaAshi> The only good thing about this is that it's EASY to see the extreme tight trading range...
[15:41] <+codehead> that's where i got out with real trade, so letting paper trade have the heuvos for me
[15:41] <@NihabaAshi> Thus, no hindsight complaints by me about "what happen" after the close
[15:41] <+codehead> i thik it hit my stop lol... out 1c ES -1.5 <paper>
[15:42] <+jbuch> Long ES @ 900.5
[15:43] <+jbuch> had an order to go long at 899.75 pulled it right before the pop
[15:43] <@NihabaAshi> Long TF @ 494.70 -> small size
[15:43] <@NihabaAshi> 2 only
[15:44] <+codehead> ok, 906 on tap
[15:44] <+codehead> 904.25 first
[15:44] <+codehead> 903 symmetry as well, but 904.25 the first big one
[15:46] <+jbuch> Exited all ES Long @ 901.25 --> + 0.75
[15:47] <+jbuch> man retracment mania
[15:48] <+jbuch> gs must be running out of $
[15:48] <+codehead> yeah, chart screams for a new high here, but sellers working hard ot cap it much off of 900
[15:48] <+rickf> House considering 5.4pct surtax on those making more than $1M
[15:52] <pdays> Long ES @ 901.25 «« simulator »»
[15:52] <+jbuch> Long ES @ 901.25
[15:52] <+werner> back and gn all
[15:53] <+jbuch> always takes a lil longer than expected
[15:56] <@NihabaAshi> Exited all TF Long @ 494.90 --> + 0.2
[15:56] <+pdays> Exited 2/3 ES Long @ 902.25 --> + 1 «« simulator »»
[15:56] <@NihabaAshi> punks
[15:56] <@NihabaAshi>
[15:56] <+jbuch> Exited all ES Long @ 901.75 --> + 0.5
[15:57] <+jbuch> didn't realize how late it was
[16:00] <@NihabaAshi> Long TF @ 493.90 -> small size
[16:00] <@NihabaAshi> 2 only
[16:01] <@NihabaAshi> intuition in reaction to prior trade that was rudely picked pocketed
[16:03] <+pdays> Exited Remainder ES Long @ 902.25 --> + 1 «« simulator »»
[16:05] <@NihabaAshi> Exited all TF Long @ 495.00 --> + 1.1
[16:05] <+jbuch> breaking into a new range after tha market closed dirty rats
[16:05] <+rickf> vn
[16:06] <@NihabaAshi> I didn't think I'll see another +1 point trade in this p.m. trading session after seeing that tight trading range.
[16:14] <@NihabaAshi> Take care all and see all tomorrow...hopefully a "more interesting" trading day.
[16:26] <+codehead> mkt rocking on INTC
[16:37] <+codehead> 909.50 ES--900 is .500, and very nice symmetry at 909.25
[16:37] <+codehead> this was a target
[16:52] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[17:04] <+jbuch> wow look at that pop

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