##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 all 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: Mon Aug 03 08:12:32 2009
Session Ident: #futurestrades
[08:12] * Now talking in #futurestrades
[08:12] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[08:20] <rickf>
[08:23] <@NihabaAshi> Good morning all.
[08:25] <+rickf> hiya
[08:35] <JimL14> GM all, wild ride on the emini elevator from 3:30 friday to now, let's see what happens today
[08:49] <+JimL14> 10:00am USD ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices (http://www.forexfactory.com/)
[09:11] * codehead_afk is now known as codehead
[09:20] <@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.
[09:25] <@NihabaAshi> FYI - Google does a good job now in indexing the #FuturesTrades chat logs.
[09:25] <@NihabaAshi> Therefore, if you guys want to attract same like traders that trades the same trading instrument or similar like trading method...
[09:26] <@NihabaAshi> You need to discuss your trading in here so that when someone searches google...it will bring them to the chat logs and that in itself may encourage them to join the chat room
[09:26] <@NihabaAshi> For example, I know there's a few in here that trade Forex currencies...
[09:27] <@NihabaAshi> If you want to meet others that trade the same forex currencies...
[09:27] <@NihabaAshi> You'll need to discuss the forex currency in here...trades or market analysis.
[09:27] <+rickf> conversely if google archives this, then we need to watch what we say
[09:28] <luffy>
[09:29] <@NihabaAshi> Also, if you have a facebook, myspace, twitter or direct links to where your posting at some forum...
[09:29] <@NihabaAshi> Post those links in here too to help attract others to #FuturesTrades.
[09:30] <@NihabaAshi> Simply, I want this room to be more than just posting trades.
[09:30] <drt>
[09:35] <@NihabaAshi> Long ES @ 993.75 -> large size
[09:35] <@NihabaAshi> 6 only
[09:37] <werner> all
[09:37] <+rickf> sheesh 6E took off just as I entered my order -- missed a nice pop
[09:38] <@NihabaAshi> Exited all ES Long @ 994.00 --> + 0.25
[09:41] <JimL28> Shorts TF @ 559.5 «« simulator »»
[09:41] <+JimL28> 2
[09:41] <+rickf> ISM @ 1000
[09:41] <+JimL28> exit stop lowered TF @ 558.8 «« simulator »»
[09:43] <pdays> Shorts TF @ 558.2
[09:43] <+pdays> Covered 1/2 TF Short @ 557. --> + 1.2
[09:43] <+JimL28> Covered 1/2 TF Short @ 557 --> + 2.5 «« simulator »»
[09:44] <+pdays> Covered Remainder TF Short @ 557.2 --> + 1
[09:45] <+rickf> long 6e 1.4324
[09:45] <+JimL28> Shorts TF @ 557.1 -> Add «« simulator »»
[09:45] <+JimL28> 1
[09:47] <+JimL28> Covered 1/2 TF Short @ 556.8 --> + 0.3 «« simulator »»
[09:48] <+JimL14> nonja acctg locked up have to reboot, will sort trades $ when back
[09:48] <+rickf> out 6e 1.4325 + 1tick
[09:48] <+rickf>
[09:49] <+rickf> opps 1.4324 b/e
[09:49] <@NihabaAshi> Shorts ES @ 990.75 -> large size
[09:50] <@NihabaAshi> 6 only
[09:53] <OICU812> Good morning
[09:54] <+werner> oic
[09:55] <@NihabaAshi> Covered all ES Short @ 990.25 --> + 0.5
[09:57] <@NihabaAshi> 1000am key economic reports around the corner (ISM Mfg Index and Construction Spending Reports).
[09:59] <@NihabaAshi> volatility now declining...
[09:59] <@NihabaAshi> I'm now expecting a volatility spike here soon.
[10:00] <+rickf> eyeing possible es short
[10:00] <+rickf> but not until news omes out
[10:00] <@NihabaAshi> Long ES @ 993.50 -> large size
[10:00] <@NihabaAshi> 6 only
[10:01] <+rickf> short es 995
[10:01] <@NihabaAshi> Exited all ES Long @ 994.25 --> + 0.75
[10:03] <+rickf> out 993.25 +1.75
[10:03] <@NihabaAshi> Shorts ES @ 993.00 -> large size
[10:04] <@NihabaAshi> 6 only
[10:05] <@NihabaAshi> Covered all ES Short @ 994.50 --> - 1.5
[10:06] <@NihabaAshi> Long ES @ 995.25 -> large size
[10:06] <@NihabaAshi> 6 only
[10:06] <+rickf> Manufacturing Improved More Than Expected in July, While Construction Spending Rose More Than Forecast in June (story developing)
[10:07] <@NihabaAshi> Exited all ES Long @ 994.25 --> - 1
[10:08] <@NihabaAshi> Shorts ES @ 992.75 -> large size
[10:08] <@NihabaAshi> 6 only
[10:11] <+werner> weak sup 91.50
[10:11] <@NihabaAshi> Covered all ES Short @ 992.75 --> 0
[10:13] <@NihabaAshi> Long ES @ 993.00 -> large size
[10:13] <@NihabaAshi> 6 only
[10:14] <@NihabaAshi> just paying comissions today
[10:15] <+rickf>
[10:17] <@NihabaAshi> Exited all ES Long @ 995.50 --> + 2.5
[10:17] <@NihabaAshi>
[10:18] <+rickf> nice one
[10:20] <@NihabaAshi> can't seem to get above +9 points for the day
[10:21] <@NihabaAshi> Long ES @ 995.00 -> medium size
[10:21] <@NihabaAshi> 4 only
[10:23] <@NihabaAshi> Several key markets are mixed today...
[10:23] <@NihabaAshi> Making it difficult to manage trades after entry
[10:25] <@NihabaAshi> volatility declining in Eminis, Eurex, Gold and Oil
[10:26] <@NihabaAshi> EuroFX too even though 6E has had a nice runup after 0950am est
[10:26] <+rickf> yeah 6E is tight now
[10:26] <+rickf> vol just died on the es
[10:27] <JimL28> Covered Remainder TF Short @ 557.8 --> + 1.7 «« simulator »»
[10:27] <@NihabaAshi> trading tip...often when the volatility decreases in EuroFX...it'll help setup a voaltility spike in the Eminis and Eurex
[10:28] <@NihabaAshi> EuroFX getting tighter (contracting)
[10:28] <+JimL14> what is symbol or defintion of euroFX?
[10:28] <+werner> Long NQ @ 1618.00
[10:28] <@NihabaAshi> depends on the data vendor
[10:28] <@NihabaAshi> I have CME:6E #F
[10:28] <+JimL14> $eurusd? or something else
[10:29] <@NihabaAshi> EurUsd good too...it's just the forex currency
[10:29] <@NihabaAshi> same correlated price action
[10:29] <+JimL14> you mean just the Euro currency
[10:29] <+JimL14> same yes i got it
[10:29] <+werner> Exited all NQ Long @ 1620.50 --> + 2.5
[10:29] <@NihabaAshi> spike in EuroFX
[10:29] <+rickf> 6E is the future of the EUR/USD
[10:30] <+rickf> grrr i lightened up some equities on friday and lo, they've blown even higher
[10:30] <+rickf> where's that pullback i've been waiting on since late april
[10:31] <+rickf> market feels very bubble-ish @ the moment
[10:31] <+OICU812> they aint letting it go down rickf
[10:31] <+rickf> yeah
[10:31] <+OICU812> i been waiting for it too
[10:31] <+rickf> and we may kiss 1000 on the ES in a second or so
[10:31] <+rickf> SPX just crossed 1001
[10:32] <+rickf> i mean sheesh --- like 13 % gain in the ES in a MONTH
[10:34] <+OICU812> unsustainable imho
[10:34] <+rickf> i;m sure cnbc is going crazy with some "ES 1000" countdown clock or something
[10:34] <+rickf> indeed
[10:34] <+rickf> all based on earnings backed by governmetn involvement
[10:34] <+rickf> mostly
[10:35] <jigglyhippo> breaking news s&P 500 over 1,000
[10:35] <+jigglyhippo> lol
[10:35] <+OICU812> also the fact that the earnings appear just cause you cut costs (layoffs and all that) which is no reflection of the economy of the average american home.
[10:35] <+rickf> right ... the macro problems remain
[10:35] <+rickf> folks forget the 'market' isn't the only indicator of the economy health
[10:39] <+rickf> ok back in a bit - gym time
[10:41] <@NihabaAshi> Exited all ES Long @ 997.00 --> + 2
[10:42] <@NihabaAshi> Was hoping for the 1000.00 ES level but it ran into resistance around 999
[10:44] <+JimL14> green troops need to pullback, get regrouped/provisioned for next assault
[10:49] <@NihabaAshi> Emini ES seems to be enjoing the 997 price level too much
[10:50] <+JimL14> nq & tf need to close ranks & get inline with es, gold & oil, dx & bonds falling
[10:51] <@NihabaAshi> My buying power with U.S. dollar in Canada is getting killed since early March...
[10:51] <@NihabaAshi> http://charts.quote.com/cis/fsspon?cont ... andom=4787
[10:52] <@NihabaAshi> Too bad I didn't short the UsdCdn early April when it stalled in a key price area.
[10:53] <@NihabaAshi> would'uv made a nice hedge for me against my consumer exposure here in Canada with the U.S. dollar
[10:53] <+JimL14> loonie caught the usd flu
[10:54] <@NihabaAshi>
[10:55] <@NihabaAshi> Long ES @ 996.75 -> small size
[10:55] <@NihabaAshi> 2 only
[10:55] <@NihabaAshi> grrrr
[10:56] <@NihabaAshi> Exited all ES Long @ 996.25 --> - 0.5
[10:57] <@NihabaAshi> Shorts ES @ 995.50 -> small size
[10:57] <@NihabaAshi> prior Long was a trade error...went Long when I wanted to go Short.
[11:00] <@NihabaAshi> Covered all ES Short @ 994.00 --> + 1.5
[11:03] <+JimL14> stronger rejection @ that high in nq/tf & lwr hi for es, need alot more effort to break 1000
[11:06] <+JimL14> i wasn't prepared to react on the divergences, still getting ninja charts in order, gotta be controlled in the midst of choas
[11:16] <@NihabaAshi> Shorts ES @ 993.00 -> small size
[11:16] <@NihabaAshi> 1 only
[11:26] <@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.
[11:29] <+luffy> short 994.5
[11:29] <+luffy> i didn't do so well today
[11:29] <+luffy> u guys killing it?
[11:29] <+luffy> i kept shorting top
[11:29] <+luffy> didn't expect 999
[11:31] <+JimL14> imho, don't expect anything go with your "here & now" signals & stay with trend, unless you have reliable reversal/divergence
[11:32] <+luffy> tagged out be+1
[11:33] <+JimL14> that's a start, that's A-ok, in consol/mixed signals across the board
[11:34] <+luffy> i hate getting tagged...
[11:34] <+luffy> oh well
[11:34] <+luffy> just not my day still doing better than most of last week
[11:35] <+JimL14> better to be the windshield than the bug
[11:37] <@NihabaAshi> Eminis in that dead zone now...
[11:37] <@NihabaAshi> I'm being careful not to overtrade in this nor do any position reversals
[11:38] <+werner> me too
[11:38] <+werner>
[11:39] <+luffy> yea, time to get some food
[11:45] <@NihabaAshi> Covered ES Short @ 995.00 --> - 2
[11:49] <+rickf> back
[11:56] <+JimL28> Shorts TF @ 560 «« simulator »»
[11:56] <+JimL28> 1
[11:58] <+JimL28> Covered TF Short @ 560.2 --> - 0.2 «« simulator »»
[11:58] <+JimL28> Reverse and Enter Long TF @ 560.2 «« simulator »»
[11:59] <+JimL28> exit stop raised TF @ 560.2 «« simulator »»
[12:00] <+JimL28> Trailing Stop Hit TF @ 560.2 --> 0 «« simulator »»
[12:01] <+JimL14> too close to lunch to fool around, this can breakout w/o me
[12:16] <codehead> short ES 996.50 <paper>
[12:17] <+codehead> 1 pt stop only
[12:18] <+codehead> exit half ES +.5 <paper>
[12:19] <+codehead> signal is cci vegas, but bid at 995.75 holding it here
[12:44] <+JimL14> fyi-nascar race @ pocono espn/mrn (lap 30 comp caution)
[12:55] <+JimL28> Shorts TF @ 560.6 «« simulator »»
[12:55] <+JimL28> 1
[12:56] <+JimL28> exit stop lowered TF @ 560.4 «« simulator »»
[12:56] <+JimL28> Trailing Stop Hit TF @ 560.4 --> + 0.2 «« simulator »»
[12:57] <+JimL14> too quiet here to take any heat in shorts
[13:03] <+JimL28> Long TF @ 560.8 «« simulator »»
[13:03] <+JimL28> 1
[13:04] <+JimL28> exit stop raised TF @ 560.9 «« simulator »»
[13:07] <+JimL28> exit stop raised TF @ 561 «« simulator »»
[13:08] <+JimL14> tight trail (swngpt, brkup have had little upside so far)
[13:08] <+JimL28> Trailing Stop Hit TF @ 561 --> + 0.2 «« simulator »»
[13:17] <+JimL28> Long TF @ 560.9 «« simulator »»
[13:17] <+JimL28> 1
[13:18] <+JimL28> exit stop raised TF @ 561 «« simulator »»
[13:19] <+JimL28> Trailing Stop Hit TF @ 561 --> + 0.1 «« simulator »»
[13:20] <+JimL14> entered too hi into rtrcmnt area, had to bail
[13:29] <@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.
[13:32] <+codehead> short ES 998.50 <paper> tick fade signal
[13:32] <+codehead> tho likely 1003 target
[13:32] <+codehead> 3 pt stop, 2 pt target, 35 min limit of tick fade
[13:37] <+JimL14> oil & eminis pushing up, but gold, dx, bonds lagging the move, struggling $action
[13:57] <@NihabaAshi> Emini ES had no volatility nor support from other key markets to take out its intraday highs.
[13:58] <@NihabaAshi> Maybe a little more sideways or a little pop to the upside will be enough to bring out the Longs.
[14:03] <@NihabaAshi> Long ES @ 999.25 -> small size
[14:03] <@NihabaAshi> 2 only
[14:05] <@NihabaAshi> Exited all ES Long @ 1000.00 --> + 0.75
[14:14] <+JimL28> Long TF @ 563 «« simulator »»
[14:14] <+JimL28> 1
[14:15] <+JimL28> exit stop raised TF @ 562.8 «« simulator »»
[14:16] <+JimL14> crappy fill, hit mktord, by mistake, need to raise stptrl
[14:17] <+JimL28> exit stop raised TF @ 563.1 «« simulator »»
[14:17] <+JimL28> exit stop raised TF @ 563.2 «« simulator »»
[14:18] <@NihabaAshi> Long ES @ 1000.00 -> small size
[14:18] <@NihabaAshi> 1 only
[14:18] <@NihabaAshi> intuition
[14:19] <+JimL28> Trailing Stop Hit TF @ 563.2 --> + 0.2 «« simulator »»
[14:19] <@NihabaAshi> be right back...have a -2 point stop in.
[14:19] <@NihabaAshi> will post late trade result if stop is hit
[14:19] * NihabaAshi is now known as NihabaAshi_away
[14:20] <+codehead> exit ES -1.25 <paper>
[14:20] <+codehead> just noticed teim expired
[14:20] <+codehead> coincidently, same offer here now as when time expired 13 mins ago, so same whether i took it then or now
[14:23] <+rickf> short es 1000
[14:23] <+rickf> 1 contract
[14:27] <+JimL28> Shorts TF @ 564.3 «« simulator »»
[14:27] <+JimL28> 1
[14:28] <+JimL28> exit stop lowered TF @ 564.2 «« simulator »»
[14:29] <+JimL28> exit stop lowered TF @ 564 «« simulator »»
[14:29] <+rickf> out es 99950 +.50
[14:30] <+JimL28> Covered all TF Short @ 563.7 --> + 0.6 «« simulator »»
[14:32] <+JimL28> Long TF @ 563.2 «« simulator »»
[14:32] <+JimL28> 1
[14:32] <+JimL28> exit stop set TF @ 562.8 «« simulator »»
[14:54] <@NihabaAshi_away> Exited ES Long @ 998.00 --> - 2
[14:54] * NihabaAshi_away is now known as NihabaAshi
[14:55] <@NihabaAshi> Long ES @ 998.50 -> small size
[14:56] <@NihabaAshi> 2 only
[14:57] <@NihabaAshi> Long ES @ 998.00 -> Add
[15:03] <JimL28> Shorts TF @ 563.1 «« simulator »»
[15:03] <+JimL28> 1
[15:04] <+JimL28> Covered all TF Short @ 562.9 --> + 0.2 «« simulator »»
[15:11] <+JimL28> Shorts TF @ 563.5 «« simulator »»
[15:11] <+JimL28> 1
[15:12] <+JimL28> Covered all TF Short @ 563.3 --> + 0.2 «« simulator »»
[15:25] <@NihabaAshi> Exited all ES Long @ 999.00 --> + 1.5
[15:26] <@NihabaAshi> +0.50 on 2 contracts and +1 on 1 contract
[15:26] <JimL14> man this is tedious price action, not enuff volatility to get a read on directon & NO direction sitting @ hi's, just gotta be sitting on hands & waiting for something
[15:27] <@NihabaAshi>
[15:27] <+werner> back....still in holliday modus here
[15:29] <+JimL14> @ fri this time, this was an awarding winning short setup I passed on, now what???
[15:30] <+werner> Shorts NQ @ 1624.50
[15:31] <+werner> Covered all NQ Short @ 1623.00 --> + 1.5
[15:33] <+JimL28> Long TF @ 562.9 «« simulator »»
[15:33] <+JimL28> 2
[15:34] <+werner> weak sup here indd
[15:35] <+werner> weak + ia mean a littel
[15:35] <@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.
[15:35] <+werner> =
[15:36] <+werner> weak= i mean a littel pfff...chardonny
[15:38] <+JimL28> Exited TF Long @ 562.4 --> - 0.5 «« simulator »»
[15:38] <+JimL28> Reverse and Enter Short TF @ 562.4 «« simulator »»
[15:39] <+JimL28> Shorts TF @ 563.1 -> Add «« simulator »»
[15:39] <+JimL28> 1
[15:39] <+werner> lot off chatmembers on hollyday wrbtrader?
[15:40] <+JimL28> 3@562.7
[15:40] <+JimL28> exit stop lowered TF @ 562.3 «« simulator »»
[15:40] <+JimL28> Trailing Stop Hit TF @ 562.3 --> + 0.9 «« simulator »»
[15:41] <@NihabaAshi> Shorts ES @ 998.25 -> small size
[15:41] <@NihabaAshi> 2 only
[15:41] <+werner> Long NQ @ 1623.00
[15:42] <+JimL28> Shorts TF @ 562.8 «« simulator »»
[15:42] <+JimL28> 1
[15:43] <tomosyn57> Shorts SSO @ 30.88
[15:44] <+werner> Exited all NQ Long @ 1623.00 --> 0
[15:44] <+JimL28> exit stop lowered TF @ 562.6 «« simulator »»
[15:45] <+tomosyn57> exit stop set SSO @ 30.84
[15:45] <@NihabaAshi> Covered all ES Short @ 997.00 --> + 1.25
[15:46] <+tomosyn57> exit stop lowered SSO @ 30.80
[15:48] <+tomosyn57> Covered Remainder SSO Short @ 30.76 --> + 0.12
[15:49] <+JimL28> Trailing Stop Hit TF @ 562.6 --> + 0.2 «« simulator »»
[15:50] <+JimL14> tried to hold on to a potentail big short winner & squandered 10 ticks, arrrgh
[15:51] <@NihabaAshi> Long ES @ 998.00 -> small size
[15:51] <@NihabaAshi> 1 only
[15:52] <+JimL28> Shorts TF @ 563.6 «« simulator »»
[15:52] <+JimL28> 2
[15:53] <+werner> Shorts NQ @ 1624.75
[15:54] <+JimL28> Covered all TF Short @ 563.4 --> + 0.2 «« simulator »»
[15:56] <+werner> Covered all NQ Short @ 1622.75 --> + 2
[15:57] <+JimL28> Long TF @ 562.9 «« simulator »»
[15:57] <+JimL28> 2
[15:58] <+JimL28> exit stop raised TF @ 563. «« simulator »»
[15:58] <+JimL28> Exited 1/2 TF Long @ 563.7 --> + 0.8 «« simulator »»
[15:59] <+JimL28> exit stop raised TF @ 563.3 «« simulator »»
[16:00] <+werner> small res here es
[16:00] <+JimL14> not going to fool around with this last contrt, will keep movgn stp
[16:00] <+werner> but its late
[16:01] <+JimL28> exit stop raised TF @ 563.6 «« simulator »»
[16:01] <+JimL28> exit stop raised TF @ 564.1 «« simulator »»
[16:02] <+JimL28> Trailing Stop Hit TF @ 564.1 --> + 1.2 «« simulator »»
[16:02] <@NihabaAshi> Exited ES Long @ 1000.25 --> + 2.25
[16:03] <+werner> vn
[16:03] <+rickf> wtg
[16:03] <+rickf> nice way to end the day after rough start
[16:03] <@NihabaAshi>
[16:04] <+werner> done here gn all
[16:04] <+rickf> cya
[16:04] <+werner>
[16:04] <+JimL14> goog job guys, i'm wornout & done for day. going to watch end of the race on tv, see 'ya
[16:28] <@NihabaAshi> Good trading today after a slow start...
[16:29] <@NihabaAshi> Take care all and see all tomorrow.
[16:29] * NihabaAshi is now known as NihabaAshi_away

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