##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.

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Session Start: Thu Aug 06 08:02:33 2009
Session Ident: #futurestrades
[08:02] * Now talking in #futurestrades
[08:02] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[08:02] <@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.
[08:32] <@NihabaAshi> Good morning all, looks like another big gap at the open on the regular session charts for the Eminis
[08:34] <rickf>
[08:48] <+rickf>
[09:05] <Forex2stay> gday everyone
[09:05] <Nesi> hi all
[09:05] <pat255> all nesi
[09:06] <+Nesi> hey pat
[09:09] <TraderG> go every 1
[09:09] <+TraderG> following yesterday's afternoon topic, here is an interesting link
[09:09] <+TraderG> http://www.themistrading.com/
[09:09] <+TraderG> look at the 3 articles at the bottom
[09:16] * codehead_afk is now known as codehead
[09:17] <jbuch> morning all
[09:18] <+TraderG>
[09:20] <+TraderG> and this is a video link about HFT High Frequency Trading
[09:20] <+TraderG> http://www.youtube.com/watch?v=_A28Zy9v ... rofilepage
[09:26] <@NihabaAshi> thanks for the link
[09:27] <Sidhartha> jeez... just watched that link. the chick is basically lying through her teeth
[09:27] <+pat255> next Wed. 2:15 FOMC statement
[09:27] <+pat255> 2:15 Fed Funds Rate
[09:28] <+TraderG> yes she is
[09:29] <+TraderG> is was discussing this with some people a while ago. Too bad that I was right
[09:29] <drt> everyone
[09:29] <+TraderG> this should tell people using indicators - including VOLUME - that they are useless
[09:30] <+TraderG> anyways - off 2 the races. may YOU be with the trend
[09:31] <+Sidhartha> TraderG, so what can you use...
[09:32] <+Sidhartha> I still believe there is valuable information in volume... if correctly interpreted
[09:32] <@NihabaAshi> A ton of talk today about the U.S. Dollar (it's value).
[09:33] <@NihabaAshi> Will be interesting to see if there will be additional volatility in EuroFX (6e) today because of such.
[09:33] <pdays> Shorts TF @ 566.5
[09:33] <+TraderG> http://www.effectivevolume.eu/
[09:34] <+TraderG> MAYBE volume but i haven't found anything that I can use.
[09:34] <+pdays> Covered all TF Short @ 565.8 --> + 0.7
[09:34] <+Forex2stay> EURO currently back into it's 3 day range, however GBPUSD had some nice movement early this morning in favor of the USD
[09:34] <+Sidhartha> TraderG, so are you trading... just trying to work out what you believe does work....
[09:35] <+TraderG> I switched back 2 FX EJ mainly but I watch ES
[09:35] <@NihabaAshi> Long ES @ 1005.00 -> large size
[09:36] <@NihabaAshi> 6 only
[09:36] <@NihabaAshi> got some odd data in some of the markets I'm following...
[09:36] <@NihabaAshi> maybe not a good time for this type of trade
[09:37] <+Forex2stay> EURUSD in a 50 pip range since London session...really tight
[09:37] <@NihabaAshi> Exited all ES Long @ 1004.00 --> - 1
[09:37] <@NihabaAshi> sideline to reboot some charts
[09:37] <+TraderG> volume profile as opposed to traditional volume
[09:37] <+pat255> was thinking L side only but iffy here
[09:39] <@NihabaAshi> Long ES @ 1003.25 -> large size
[09:39] <@NihabaAshi> 6 only
[09:42] <@NihabaAshi> Exited all ES Long @ 1004.50 --> + 1.25
[09:44] <JimL14> a "little" Wild this am
[09:47] <@NihabaAshi> We've dropped below a support zone
[09:48] <+JimL14> too fast to post trades
[09:49] <+drt> l es 00.25
[09:49] <+Forex2stay> Long EURUSD @ 1.4358
[09:51] <+Forex2stay> will need to be careful if EURO breaks low of range it could slide to 1.4300
[09:52] <+drt> cl es 00.25
[09:53] <+Forex2stay> moving up SL
[09:53] <JimL28> Long TF @ 561.8 «« simulator »»
[09:53] <+JimL28> 1
[09:54] <+jbuch> Shorts ES @ 1000
[09:54] <+JimL28> Exited Remainder TF Long @ 561.3 --> - 3.4 «« simulator »»
[09:54] <@NihabaAshi> Shorts ES @ 998.75 -> large size
[09:54] <@NihabaAshi> 6 only
[09:55] <@NihabaAshi> another support level just broke
[09:55] <+Forex2stay> Exited all EURUSD Long @ 1.4360 --> + 0.0002
[09:55] <+jbuch> Covered 1/2 ES Short @ 998 --> + 2
[09:56] <+pat255> vn guys ..
[09:56] <@NihabaAshi> Covered all ES Short @ 997.75 --> + 1
[09:58] <@NihabaAshi> Last few trading days I've been letting a few trades that go in my favor by +1 point near a support or resistance level on a volatility spike to retrace and take me out at breakeven or 1 tick profit while trading some size.
[09:58] <+JimL28> Long TF @ 560.5 «« simulator »»
[09:58] <+JimL28> 2
[09:59] <@NihabaAshi> Today I wanted to change that and cash in a few of those types of trades because they make the difference (those extra 3 ticks on some size) by the end of the trading day.
[10:00] <+pat255> yes
[10:00] <@NihabaAshi> I can always re-enter a trade if I thought I exited too early
[10:00] <+JimL28> Exited all TF Long @ 561 --> + 0.5 «« simulator »»
[10:01] <@NihabaAshi> We
[10:01] <@NihabaAshi> We're now at another support level
[10:02] <@NihabaAshi> 996.75 - 995.25
[10:02] <@NihabaAshi> will watch closely to see how it reacts around 995.00
[10:02] <@NihabaAshi> meant 995.25
[10:03] <+jbuch> Covered Remainder ES Short @ 996 --> + 4
[10:03] <+pat255> vn jb
[10:03] <+jbuch> thanks
[10:03] <+JimL28> Long TF @ 559. «« simulator »»
[10:03] <+Nesi> great one, jbuck
[10:04] <+JimL28> 2
[10:05] <+JimL14> filled @ 559.4 i'll take @ exit
[10:05] <@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.
[10:06] <+JimL28> Exited 1/2 TF Long @ 559.1 --> + 0.1 «« simulator »»
[10:08] <+JimL28> Exited Remainder TF Long @ 561.2 --> + 2.2 «« simulator »»
[10:09] <@NihabaAshi> Shorts ES @ 996.25 -> large size
[10:10] <@NihabaAshi> 6 only
[10:11] <+JimL28> Shorts TF @ 560 «« simulator »»
[10:11] <+JimL28> 2
[10:12] <+JimL28> Covered 1/2 TF Short @ 559 --> + 1 «« simulator »»
[10:13] <+JimL28> Covered all TF Short @ 558.7 --> + 1.3 «« simulator »»
[10:13] <@NihabaAshi> Covered all ES Short @ 995.25 --> + 1
[10:14] <werner> all from a 32 degrees holland...pfff
[10:16] <@NihabaAshi> Just went below the 994.25 support
[10:17] <+werner> maybe 92 some sup
[10:17] <+JimL14> i exited @ yesterday low & it blew right thru w/o hesitation, wasted that oppty, move stop instead nxet time
[10:18] <+werner> the lows from yesterday and the day before...92
[10:18] <+JimL28> Long TF @ 555.7 «« simulator »»
[10:18] <+JimL28> 2
[10:19] <+JimL28> Exited 1/2 TF Long @ 556.4 --> + 0.7 «« simulator »»
[10:19] <+werner> all ses
[10:20] <+JimL14> TF yestrdy lo @558.7
[10:20] <+Forex2stay> EURO feels really heavy...lot of selling pressure
[10:21] <codehead> long ES 993.25 <paper>
[10:21] <+codehead> 2 pt stop
[10:22] <+werner> tf maybe good sup on 552
[10:22] <+JimL28> Exited Remainder TF Long @ 557.2 --> + 1.5 «« simulator »»
[10:23] <+codehead> exit half ES +1.25 <paper>
[10:24] <+jbuch> Shorts ES @ 994.25
[10:24] <+werner> yo jbuch:)
[10:24] <+JimL14> werner, if we get there (552) we'll find out, its the next swing low w/low vol
[10:25] <+jbuch> whats happening werner
[10:25] <+werner> ok Jiml
[10:25] <+JimL28> Shorts TF @ 557.5 «« simulator »»
[10:25] <+JimL28> 1
[10:25] <+werner> its ok here jbuch
[10:26] <+jbuch> glad to hear:))
[10:26] <+werner>
[10:26] <+jbuch> Covered 1/2 ES Short @ 993 --> + 1.25
[10:27] <+werner> nice
[10:27] <+jbuch> thanks
[10:27] <+JimL28> Covered all TF Short @ 556.5 --> + 1 «« simulator »»
[10:28] <+werner> also nice jiml
[10:28] <+codehead> exit remainder ES +.5 <paper>
[10:28] <+werner> brb
[10:29] <+jbuch> Covered Remainder ES Short @ 994 --> + 0.25
[10:29] <+JimL28> Long TF @ 556.6 «« simulator »»
[10:29] <+JimL28> 2
[10:31] <+JimL28> Exited Remainder TF Long @ 556.9 --> + 0.3 «« simulator »»
[10:31] <+JimL14> not enuff mojo, yet to lift, close but not yet
[10:31] <+codehead> trin still medded up today
[10:32] <+jbuch> has anyonein here traded for a large institution
[10:33] <@NihabaAshi> I think we have at least one person in here that has while 3 others (not here) are registered members.
[10:34] <@NihabaAshi> They've at least traded for an institution but I don't know if the institution is considered "large".
[10:34] <+rickf> back
[10:35] <+jbuch> I have a friend of the family who is a vp at morgan stanley
[10:35] <@NihabaAshi> jbuck...you could post the question at the forum if you're looking for specific info about something.
[10:36] <@NihabaAshi> I have two institutional traders in the family, one former floor trader in the family and several trading pals trading for institutions in U.S., Canada, France and Japan.
[10:36] <+jbuch> was talking with him last weekend considering taking a a job but don't really know anything about it
[10:36] <+jbuch> thanks wrbtrader eill post the
[10:37] <+JimL28> Long TF @ 557.8 «« simulator »»
[10:37] <+JimL28> 1
[10:37] <@NihabaAshi> I've turned down a few institutional job offers myself in the past 5 years after friends have talked to their bosses.
[10:38] <@NihabaAshi> I saw what it has done to a few and don't want anything to do with it.
[10:38] <+jbuch> my brother in law has a buddy who is a team leader with a trading group at jp morgan
[10:38] <@NihabaAshi> One buddy has "stress test" done every quarter and extensive phyicals twice per year although he's in great shape...
[10:39] <@NihabaAshi> He's just under a ton of stress while trading a 10 million dollar account
[10:39] <+werner> pfffff
[10:39] <+jbuch> gonna fly up to NY in a couple of weeks to meet with him and hopefully take a look at the work enviroment
[10:39] <+JimL28> Exited all TF Long @ 559.4 --> + 1.6 «« simulator »»
[10:39] <@NihabaAshi> Ask a lot of questions, take a look at their screens too
[10:40] <+werner> i dont like stress...lol
[10:40] <@NihabaAshi> I don't mind stress but too much over our tolerance level is very harmful to our health in the long term.
[10:41] <+jbuch> I have a good system but don't know if would work with a huge account
[10:41] <+jbuch> same here on stress
[10:42] <+jbuch> actually prefer some but living with to much day in day out sucks
[10:42] <@NihabaAshi> My old man (step father) had to leave the floor because of hypertension, coronary issues that his doctor said was due to his job.
[10:42] <+JimL28> Long TF @ 559.3 «« simulator »»
[10:42] <+JimL28> 2
[10:43] <@NihabaAshi> He only worked on the floor of the exchange for 7 years.
[10:44] <+JimL28> exit stop raised TF @ 559.7 «« simulator »»
[10:44] <+JimL28> Trailing Stop Hit TF @ 559.7 --> + 0.4 «« simulator »»
[10:45] <@NihabaAshi> jbuch...if you accept the job...move within walking distance or biking distance
[10:45] <@NihabaAshi> It'll help let go of the trading day when you walk home or bike home
[10:45] <@NihabaAshi> I'm serious.
[10:46] <+JimL28> Long TF @ 559.7 «« simulator »»
[10:46] <+JimL28> 2
[10:46] <+jbuch> thanks for the advice
[10:47] <+JimL28> exit stop raised TF @ 559.9 «« simulator »»
[10:48] <+jbuch> I was on line this weekend trying to figure out where I could afford to live that would allow me to bike to manhatton.)
[10:49] <+Forex2stay> jb you have a family?
[10:49] <+werner> do you have a wife and kids Jbuch?
[10:49] <+werner> lol
[10:49] <+Forex2stay> lol
[10:49] <+jbuch> yes both
[10:49] <+JimL14> yoda asks, why would you leave the warm confines of NM where you can trade in your footsie pajamas?
[10:50] <@NihabaAshi>
[10:50] <+jbuch> she has a lot of family on long island so she would be happy
[10:50] <+JimL14> Duh
[10:50] <+JimL14> tell her to move to LI
[10:50] <+werner> ok nice jbuch
[10:50] <+Forex2stay> LI cost of living is huge
[10:51] <+Forex2stay> I lived in Connecticut a few years....and worked in Old Greenwhich, freakin nuts
[10:51] <+Forex2stay> very expensive
[10:52] <+JimL28> Trailing Stop Hit TF @ 559.9 --> + 0.2 «« simulator »»
[10:53] <+JimL14> 1st time today I tried to hold, left 1.1 pts on table
[10:54] <+Sidhartha> jbuch... i traded for merrill & barcap for almost 11 years total...
[10:55] <+Sidhartha> things to watch out for... 1. the commute 2. the politics (massive at all these firms) 3. your boss... critical to have a great boss. can make the difference between a good experience & an awful one
[10:55] <+jbuch> did they allow you flexability in ur trading methodologies
[10:55] <+Forex2stay> Shorts EURUSD @ 1.4370
[10:56] <+JimL14> LI & NYC is going to tax anyone with $$$ back into the stoneage over the next 5 yrs the combined fed, state, county, NYC will be >50%
[10:56] <+Sidhartha> they did yes... i think it depends what part of the business you are. i.e. what specific trading desk. but basically they just wanna make money... still, don't tell them your 'copyrighted' material if you like... give them a flavour, nothing more
[10:57] <+jbuch> thanks
[10:57] <+jbuch> why did u leave if u don't mind me asking
[10:58] <+Sidhartha> if you consistent on your own, I can only see two reasons to trade for an instituion... 1. you don't like being alone so want company during the day 2. you want to gain more leverage and make even more money
[10:58] <+JimL14> it may get >60% before they figureout that everyone with $$$ is fleeing as fast as they can, thats why they are recruiting from everywhere else
[10:58] <+jbuch> you hit both of the reasons
[11:00] <+Forex2stay> if EURO doesn't follow GBPUSD lower will look to dump this trade
[11:00] <+Sidhartha> because I ended up doing statistical arbitrage in europe... which was a very tough task. I was writing & trading complex mathematical models that had ever decreasing returns at that stage (4 years back)... I also had an awful boss. So I decided to take some time out, do a masters degree... now I'm trading my own money
[11:00] <+jbuch> I have only been doing this for 1 year still have a lot to learn would be nice to be paid while i learn
[11:00] <+luffy>
[11:01] <+jbuch> morning luffy
[11:02] <+jbuch> so you were able to trade your own account while trading for the bank sid
[11:04] <+werner> i think when you must trade for a living ...it seems too me a very riskfull and stressfull job
[11:04] <+JimL28> Shorts TF @ 560.6 «« simulator »»
[11:04] <+JimL28> 1
[11:05] <+JimL28> sell stop to enter short TF @ 561.2 «« simulator »»
[11:06] <+JimL28> Short TF @ 561.2 «« simulator »»
[11:06] <+TraderG> werner - isn't every job that you do 4 a living risky and stressful?
[11:06] <+JimL28> Covered all TF Short @ 561.2 --> 0 «« simulator »»
[11:06] <+werner> i dont think so
[11:06] <+TraderG> you could b fired.....
[11:06] <+TraderG> u could have an awfull boss
[11:06] <+werner> yea indd
[11:07] <+TraderG> company can go bankrupt
[11:07] <+JimL14> -.6
[11:07] <+TraderG> an so on and so on
[11:07] <+jbuch> Shorts ES @ 998
[11:07] <+JimL28> Shorts TF @ 560.8 «« simulator »»
[11:07] <+JimL28> 2
[11:08] <+TraderG> and if you make your company a large some of money because of some innovation, usually you will not be rewarded proportionally
[11:08] <+luffy> short
[11:08] <+luffy> traderg, thx for teh links
[11:08] <+JimL28> exit stop lowered TF @ 560.6 «« simulator »»
[11:08] <+TraderG> u r wc
[11:08] <+JimL28> Trailing Stop Hit TF @ 560.6 --> + 0.2 «« simulator »»
[11:08] <+werner> if you are fired in holland you can go to the state and you become money frome the state...so yoe can go to look at an new job
[11:09] <+Sidhartha> jbuch... my own account? well, I had my own book... but it was the banks book. it's never 'your own' account per se... if you mean could I trade my own book also (with my own personal money) while working for the bank... well, I could... but not actively... for compliance reasons you have to get every trade signed off. Which puts a bit of a handbrake on your personal account trading to say the least!!!
[11:09] <+JimL28> Shorts TF @ 560.6 «« simulator »»
[11:09] <+JimL28> 2
[11:10] <+TraderG> that is the same as here in Canada but you get money from the govenment only for 6 months (or there about)
[11:10] <+luffy> out +3tick
[11:11] <+JimL14> gold bounncing a little which is screwing up these shorts
[11:12] <+werner> indd traderG....but i mean ,trading as a second income is relax trading i think
[11:13] <+Forex2stay> Covered 1/2 EURUSD Short @ 1.4360 --> + 0.001
[11:13] <+Forex2stay> moving SL on remainder
[11:13] <+jbuch> I agree werner
[11:14] <+jbuch> having a daily quota is very stresfull
[11:14] <+Sidhartha> difficult to day trade when you have another job though!!!
[11:14] <+jbuch> Covered all ES Short @ 997.75 --> + 0.25
[11:15] <+jbuch> unless your other job is trading
[11:15] <+JimL28> Covered all TF Short @ 561.9 --> - 1.3 «« simulator »»
[11:15] <+JimL14> is twitter down
[11:16] <+jbuch> just saw your post sid thanks
[11:16] <+luffy> alot of convo today
[11:16] <+TraderG> we have retraced 50% of the daily move
[11:16] <+luffy> jb i think if u do take the job.. it'll be cool just for the exp
[11:16] <+luffy> granted u like the environment
[11:16] <+rickf> Twitter crippled by denial-of-service attack
[11:16] <+rickf> http://news.cnet.com/8301-13577_3-10304 ... 47-1_3-0-5
[11:16] <+werner> yes indd sidhartha but i have income from property and have a lot of time
[11:17] <+luffy> have any of you guys here purchased wrbtrader's trading materials?
[11:17] <+JimL14> i was screwing around with twitter & got screwed on that bounce, didn't see it coming
[11:17] <+luffy> i just saw it yesterday
[11:17] <+jbuch> I agree luffy cool work and life experiance
[11:17] <+rickf> i dont twit
[11:17] <+Forex2stay> Covered Remainder EURUSD Short @ 1.4364 --> + 0.0006
[11:18] <+TraderG> i haven't had a paycheck for 22 years now. I doubt that I could go and work for anyone now. Regardless of the money.
[11:18] <+luffy> jb, u seem to have gone really far in a year, if u dont mind me asking, are u trading PA or other method?
[11:18] <+rickf> TraderG -- i agree
[11:18] <+rickf> been a consultant for 9 years, not sure i could go back to a 9-5 office routine
[11:19] <+jbuch> pa
[11:19] <+TraderG> office politics and brown-nosing is the killer 4 me
[11:19] <+jbuch> look at vol and the tick but pa is the main
[11:19] <+luffy> i hate politics.. reason why i quit to trade
[11:19] <+rickf> yup
[11:21] <+jbuch> thanks for the input all gonna get some breakfast be back later
[11:21] <+rickf> luffy: that's why most of us do it
[11:21] <+rickf> lol
[11:22] <+pat255> rick what area u work?
[11:22] <+rickf> mix of internet security and "cyberwarfare" stuff
[11:22] <+pat255> vn
[11:22] <+luffy> haha rick
[11:22] <+luffy> yea
[11:23] <+rickf> ;;)
[11:23] <+luffy> cyberwarfare?
[11:23] <+luffy> any cool stories?
[11:23] <+rickf> yep there are
[11:23] <+werner> thanks all ..
[11:23] <+luffy> like... come on its dead zone...
[11:23] <+rickf>
[11:24] <+rickf> nahhh not here
[11:24] <+luffy> that juicy huh
[11:24] <+luffy> ok
[11:24] <+rickf> - bloomberg reporting twitter is down nationwide
[11:24] <+luffy> lol
[11:24] <+rickf> facebook and livejournal too, apparently
[11:24] <+luffy> really?
[11:24] <+luffy> this part of ur cyberwarfare?
[11:25] <+rickf> who knows?
[11:25] <+rickf> could be
[11:25] <+JimL28> Long TF @ 562.3 «« simulator »»
[11:25] <+JimL28> 2
[11:28] <+JimL28> Exited 1/2 TF Long @ 563.2 --> + 0.9 «« simulator »»
[11:29] <+rickf> luffy: there's just a lot of 'noise' and sensationalism in the topic, so i don't talk about it muchly
[11:29] <+JimL28> Exited all TF Long @ 562.7 --> + 0.4 «« simulator »»
[11:29] <+luffy> k
[11:30] <+rickf> but got internet security questions, sure, happy to talk
[11:31] <+luffy> haha ok
[11:31] <+luffy> do i need anti-malware software?
[11:31] <+luffy> seems too much stuff
[11:31] <+rickf> if you're on windows yeah
[11:31] <+luffy> anti-virus...
[11:32] <+luffy> ok
[11:32] <+luffy> i just got a-square malware
[11:32] <+rickf> i run macs
[11:32] <+luffy> cool
[11:37] <+JimL28> Long TF @ 561.4 «« simulator »»
[11:37] <+JimL28> 2
[11:38] <+JimL28> Exited 1/2 TF Long @ 562. --> + 0.6 «« simulator »»
[11:38] <+JimL28> exit stop raised TF @ 561.6 «« simulator »»
[11:39] <+JimL28> Trailing Stop Hit TF @ 561.6 --> + 0.2 «« simulator »»
[11:41] <+JimL28> Shorts TF @ 561.5 «« simulator »»
[11:42] <+JimL28> 2
[11:52] <+JimL28> Covered all TF Short @ 561.6 --> - 0.1 «« simulator »»
[11:53] <+JimL14> break, lunch, projects...later
[12:00] <+Forex2stay> EURO barely trading below it's 3 day range, will be interesting to see how it ends the day.
[12:01] <+rickf> euro just dead right now
[12:02] <+Forex2stay> the BO was brought back rather quickly, USD has had a much stronger move against GBPUSD, so wonder if someone is holding up the EURO
[12:11] <@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.
[12:12] <+rickf> lunchtime bb in a bit
[12:12] <+Forex2stay> anyone know where i can get details on employement #'s
[12:13] <+Forex2stay> specifically looking for Temporary help hired/let go and hours worked per week
[12:13] <+Forex2stay> specifically for the US
[12:31] <+luffy> long 33.5
[12:35] <+rickf> bak
[12:37] <@NihabaAshi> Long ES @ 924.50 -> small size
[12:37] <@NihabaAshi> 2 only
[12:39] <@NihabaAshi> correction
[12:39] <@NihabaAshi> Long ES @ 994.50 -> small size
[12:39] <@NihabaAshi> Exited all ES Long @ 994.50 --> 0
[12:40] <@NihabaAshi> early exit
[12:40] <@NihabaAshi> be back later
[12:40] * NihabaAshi is now known as NihabaAshi_away
[12:42] <+jbuch> tried to take a long at 994.5 hit and rested on my entry 5 times no fill.
[12:44] <+luffy> going for teh break!!!
[12:44] <+luffy> up up up
[12:44] <+luffy> 1 car only
[12:45] <+luffy> plz god
[12:45] <+luffy> up
[12:45] <+luffy> stop at be+1
[12:45] <+luffy> free trade
[12:45] <+luffy> would suck to see 3 pt retace against me
[12:46] <+luffy> i'mout
[12:46] <+luffy> i'm out +2.25
[12:46] <+luffy> no balls today
[12:46] <+luffy> saw hesitation there...
[12:48] <+jbuch> nice luffy )
[12:49] <+jbuch> dang luffy busted out the please god
[12:50] <+luffy>
[12:50] <+luffy> i really wanna catch of one of those 10 ponters
[12:51] <+luffy> but the only way to do it is scaling out
[12:51] <+luffy> 1 car is too tough
[12:51] <+luffy> so i had to bail
[12:51] <+luffy> i think that's the right thing to do
[12:51] <+luffy> thnx everyone
[12:51] <+jbuch> definetly
[12:51] <+jbuch> hard to hang with 1 car
[12:53] <+luffy> yea
[12:53] <+jbuch> looks like the perfect entry and exit
[12:53] <+luffy> but i find myself not trading rigth doing more than 1
[12:53] <+luffy> i get hella scared
[12:53] <+luffy> so i gotta get comfortable
[12:53] <+luffy> then add a car
[12:54] <+Forex2stay> luffy might want to think about trading one contract real one paper..you can always post it on here to keep yourself legit...sometimes multiple contracts do not work for everyone, this way you get a feel for it without risking the extra money
[12:56] <+luffy> true forex
[12:56] <+luffy> i'll do that
[12:56] <+luffy> keep 2nd car on paper
[12:56] <+Forex2stay> yep
[13:07] * codehead is now known as codehead_afk
[13:08] <+jbuch> Long ES @ 994.75
[13:09] <+Forex2stay> okay i'm done for the day...goals met and we have some friends coming over from TX, so going to spend some time with them...catch everybody tomorrow
[13:09] <+rickf> cya
[13:09] <+jbuch> cya
[13:09] * Forex2stay is now known as Forex2stay_Away
[13:13] <+rickf> bloomberg: NASDAQ eliminating flash trading too
[13:14] <+rickf> short es 994.75
[13:16] <+jbuch> has some one else eliminated it
[13:16] <+JimL28> Long TF @ 559.9 «« simulator »»
[13:16] <+JimL28> 1
[13:16] <+rickf> nyse did the other day i think
[13:17] <+jbuch> interesting
[13:17] <+jbuch> without them it may not be worth doing
[13:18] <+rickf> true
[13:18] <+jbuch> Exited all ES Long @ 995 --> + 0.25
[13:19] <+JimL28> Long TF @ 559.5 -> Add «« simulator »»
[13:19] <+JimL28> 1
[13:23] <+JimL28> Exited all TF Long @ 560.2 --> + 1 «« simulator »»
[13:24] <+jbuch> there she goes ran outta patience
[13:26] <+luffy> yea
[13:26] <+luffy> didn't get a reentry
[13:26] <+luffy> was hoping for better pricig
[13:27] <+jbuch> here she comes )
[13:28] <+JimL14> decent setup but I entered after the initial break & was very happy to get out, agree Luffy going to try again if things hold &/or improve
[13:29] <+jbuch> broke out that wedge
[13:30] <+jbuch> but very choppy
[13:30] <+luffy> yea
[13:30] <+JimL14> gold going in wrong direction, if it turns & bounces maybe we get everyhting moving in same direction
[13:31] <+rickf> short es 996.75 (add)
[13:32] <+jbuch> tagged 1000 on the tick
[13:35] <+JimL14> sloid little push that one, let's see it the Green troops can regroup & take the high ground @ that swing
[13:35] <+JimL14> solid
[13:37] <+jbuch> Long ES @ 997
[13:39] <+JimL28> Long TF @ 560.3 «« simulator »»
[13:39] <+JimL28> 1
[13:41] <+JimL28> Exited all TF Long @ 560 --> - 0.3 «« simulator »»
[13:42] <+jbuch> Exited all ES Long @ 995.75 --> - 1.25
[13:43] <+rickf> exit es 994.75 +1
[13:43] <+JimL14> +1100 tick to -1100 straightline no bounce, rare
[13:43] <+rickf> ugh
[13:44] <+jbuch> yeah theats a big swing
[13:44] <+JimL14> very rare, was hopping for the bounce to test the long & short the ensuing tick fade, wrong
[13:45] <+JimL14> tf broke it slower swing & hasn
[13:45] <+JimL14> t bounced yet, glad i'm out but wish short
[13:46] <+rickf> i took that es trade on a 233t chart -- stupid me
[13:46] <+rickf> prefer 512 or higher in the pm
[13:49] <+JimL14> this is freaky, it lloks like it could balst off cuz eminis are trying higher lows on extreme negative tick after a very high tick very volatile
[13:50] <+jbuch> Shorts ES @ 994.25
[13:50] <+rickf> acutally going to call it a day - need to get some other stuff done around here, so i'll be lurking for the rest of the day unless something major happens
[13:50] * rickf is now known as rickf_lurking
[13:51] <+JimL28> Long TF @ 558.1 «« simulator »»
[13:51] <+JimL28> 1
[13:51] <+jbuch> tried to catch that at 994.75 then at 994.5
[13:51] <+jbuch> hate being in so low
[13:53] <+JimL14> oil has closed its gap & now going for HOD, but gold lagging
[13:54] <+jbuch> at the up trend of that wedge
[13:55] <+JimL28> Exited TF Long @ 558.3 --> + 0.2 «« simulator »»
[13:55] <+JimL28> Reverse and Enter Short TF @ 558.3 «« simulator »»
[13:55] * NihabaAshi_away is now known as NihabaAshi
[13:58] <+jbuch> which way will she pop
[14:00] <+JimL14> i really don't like reverseing in midtrend, this isn't in my playbook
[14:00] <+jbuch> stop at 94
[14:01] <@NihabaAshi> Shorts ES @ 993.00 -> medium size
[14:01] <@NihabaAshi> 4 only
[14:01] <+JimL28> exit stop lowered TF @ 558.4 «« simulator »»
[14:02] <+JimL14> -1200 tick LOD, we're in the right direction
[14:02] <@NihabaAshi> Covered 3/4 ES Short @ 991.75 --> + 1.25
[14:04] <+jbuch> Covered all ES Short @ 992 --> + 2.25
[14:04] <+JimL14> gold broke LOD & oil 2x top & retrcng
[14:05] <+jbuch> moved my target up that was keepr
[14:06] <+luffy> took a huge stop
[14:06] <+luffy> 6 ticks
[14:06] <@NihabaAshi> Covered Remainder ES Short @ 990.50 --> + 2.5
[14:07] <+jbuch> nice wrbtrader
[14:07] <+JimL28> Covered 1/2 TF Short @ 555.5 --> + 2.8 «« simulator »»
[14:08] <+jbuch> nice jim
[14:14] <@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.
[14:16] <+luffy> long again
[14:16] <+luffy> 90.5
[14:16] <+luffy> last try
[14:22] * codehead_afk is now known as codehead
[14:25] <+JimL28> Covered Remainder TF Short @ 556.2 --> + 2.1 «« simulator »»
[14:25] <+luffy> big R here
[14:26] <+jbuch> very nice luffy
[14:26] <+luffy> gonna hld it this time
[14:29] <+JimL14> oil strong again, it stops that dwnside move in eminis
[14:29] <+JimL28> Long TF @ 556.2 «« simulator »»
[14:29] <+JimL28> 1
[14:30] <+JimL28> exit stop raised TF @ 556.4 «« simulator »»
[14:30] <+jbuch> Shorts ES @ 992.25
[14:30] <+JimL28> Trailing Stop Hit TF @ 556.4 --> + 0.2 «« simulator »»
[14:31] <+luffy> be+1
[14:31] <+luffy> stopped
[14:31] <+luffy> damn
[14:32] <+luffy> 1 car delimma
[14:32] <+JimL28> Long TF @ 555.7 «« simulator »»
[14:32] <+JimL28> 1
[14:33] <+jbuch> Covered ES Short @ 991.5 --> + 0.75
[14:33] <+JimL28> exit stop raised TF @ 555.9 «« simulator »»
[14:34] <+jbuch> broke the down trendline trying to make a higher low here
[14:35] <+jbuch> looking good
[14:36] <+JimL28> Long TF @ 556.9 «« simulator »»
[14:36] <+JimL28> 1
[14:36] <+JimL28> add
[14:37] <+JimL28> Exited all TF Long @ 556.6 --> - 0.3 «« simulator »»
[14:38] <+JimL28> somethimng wrong there in logic, forget 'bout it
[14:40] <+jbuch> messy
[14:41] <+luffy> we at a pivotal point
[14:41] <+luffy> this is gonna determine the trend
[14:41] <+luffy> right here
[14:43] <+JimL14> gold, reversed strongly up, but now eminis lagging, if they would all move together we'd get somewhere
[14:44] <+jbuch> I will some phone calls
[14:44] <+jbuch> make some phone calls
[14:46] <+jbuch> seems like gold dances to its own beat
[14:47] <+jbuch> historically how correlated r they jim
[14:49] <+JimL14> don't know the historicals, only day to day empirical performance,
[14:50] <+jbuch> Long ES @ 991.75
[14:50] <+JimL14> when the geometric patterns/swing pts are generally aligned & then move together; the trends are stronger
[14:51] <+luffy> interesting
[14:52] <+JimL28> Long TF @ 555.8 «« simulator »»
[14:52] <+JimL28> 2
[14:53] <+JimL14> eminis, gold, oil, vs us$, bond$
[14:54] <+JimL28> exit stop raised TF @ 556.1 «« simulator »»
[14:56] <+JimL28> Long TF @ 556.7 -> Add «« simulator »»
[14:56] <+JimL28> 1
[14:57] <+JimL28> 3 @ 556.2
[14:59] <+jbuch> Exited all ES Long @ 992.5 --> + 0.75
[14:59] <+JimL28> exit stop raised TF @ 556.4 «« simulator »»
[15:00] <+JimL28> Trailing Stop Hit TF @ 556.4 --> + 0.3 «« simulator »»
[15:00] <+JimL14> 3:00 whitchy hour, forgot to look @ clock
[15:01] <+jbuch> Jim I also combine that with astral obvservations i like to only take long trades when 3 of the 4 Galilean moons of jupitor r between us and jupitor.
[15:01] <+jbuch> just being a wise ass
[15:01] <+jbuch> sounds like a good method
[15:02] <+JimL14> I've already dispatched Spock & Scotty, sorry
[15:02] <+jbuch> )
[15:03] <@NihabaAshi> Long ES @ 992.50 -> small size
[15:04] <@NihabaAshi> 2 only
[15:04] <+luffy> paper long
[15:04] <+luffy> 92.75
[15:05] <+JimL28> Long TF @ 557.2 «« simulator »»
[15:05] <+JimL28> 2
[15:05] <+jbuch> u still in from 990.5 luf
[15:05] <+luffy> got tagged out be+1
[15:05] <+luffy> not moving stops no more going forward
[15:06] <+luffy> trying to save my stop i let bigg runner go...
[15:06] <+luffy> not worth it
[15:06] <+jbuch> bummer came back down and tagged u out
[15:06] <+jbuch> and then reversed up
[15:07] <+luffy> yea
[15:07] <+luffy> so no more moving stops
[15:07] <+luffy> i get tagged soo much
[15:07] <+luffy> i think wrbtrader was talking abbut that today too
[15:08] <+luffy> paper long out
[15:08] <+luffy> 93.5
[15:12] <@NihabaAshi> Exited all ES Long @ 993.00 --> + 0.5
[15:12] <+luffy> hey wrbtrader, how have u adjusted ur playaction due to the be+1 tagouts today?
[15:13] <+luffy> u said soemthing earlier
[15:13] <+luffy> in the day
[15:13] <+JimL28> Long TF @ 556.9 -> Add «« simulator »»
[15:13] <+JimL28> 1
[15:13] <+JimL28> 3@557
[15:13] <@NihabaAshi> I use to go to breakeven or 1 tick profit when ES went my way on some size.
[15:14] <@NihabaAshi> However, in the morning trading session I was getting pick pocketed too much on that.
[15:14] <drt> l es 92.75
[15:15] <@NihabaAshi> Now what I'm doing (as of today)...when trading some size is to exit the trades at 1 point profit on a few trades to get some money under my belt.
[15:15] <@NihabaAshi> After that...I go back to the trade management of moving my stop into a breakeven or 1 tick profit when the trade goes my way by 1 point.
[15:15] <+luffy> paper long 93.5
[15:15] <+JimL28> exit stop raised TF @ 557.2 «« simulator »»
[15:16] <@NihabaAshi> simply, the new adjustment is just for my first few profitable trades.
[15:16] <+luffy> icic
[15:16] <+luffy> so say if u had 2 cars, u take 1 for +1pt then move the rest to be+1
[15:16] <+luffy> that's what i did, but i got tagged on the 2nd car so much
[15:16] <@NihabaAshi> No...
[15:17] <+luffy> no?
[15:17] <@NihabaAshi> I'm saying if I have 2 lots and it goes 1 point...I exit ALL the contracts.
[15:17] <@NihabaAshi> I do that for the first few profitable trades.
[15:17] <+luffy> icic
[15:17] <+luffy> just to get the feel for it
[15:17] <@NihabaAshi> Simply, it has nothing to do with scaling out.
[15:17] <+luffy> ok
[15:17] <+JimL28> Exited 1/3 TF Long @ 558.1 --> + 1.2 «« simulator »»
[15:17] <+luffy> that paper long loking good
[15:18] <+JimL14> Luffy, it really depends on what kind of patterns you enter on from bottom/top reversals, in-trend retrcmts/pullbacks, or finally breakouts/dwns
[15:18] <+luffy> paper stop move to be+1
[15:18] <+luffy> let it run
[15:18] <+luffy> i wish i took the last 2 paper trades live
[15:18] <+luffy> hehe
[15:18] <+drt> cl es 94.75
[15:18] <+luffy> out paper
[15:18] <+luffy> 94.5
[15:19] <+luffy> thanks jim
[15:19] <+luffy> yea for countertrend i cant afford to move stop
[15:19] <+luffy> for with trend stops u have to move stop
[15:19] <+luffy> scalps i mean
[15:19] <+luffy> with trend scalps
[15:19] <+JimL14> where was the last support & the next resistance? gotta figure your Risk/Reward & how has the market trending, right here & now
[15:20] <+luffy> tru
[15:21] <+JimL28> exit stop raised TF @ 557.4 «« simulator »»
[15:24] <+luffy> this whole week was like repeat
[15:25] <+JimL28> Exited 1/3 TF Long @ 559 --> + 1.8 «« simulator »»
[15:26] <@NihabaAshi> Long ES @ 995.50 -> small size
[15:26] <@NihabaAshi> 2 only
[15:26] <@NihabaAshi> intuition
[15:30] <@NihabaAshi> Exited all ES Long @ 995.25 --> - 0.25
[15:30] <+jbuch> Long ES @ 995.25
[15:30] <@NihabaAshi>
[15:30] <@NihabaAshi> got lost a little in that price action
[15:30] <@NihabaAshi> decided to exit and re-group
[15:32] <+jbuch> Exited all ES Long @ 994.75 --> - 0.5
[15:33] <+JimL28> Trailing Stop Hit TF @ 557.4 --> + 0.2 «« simulator »»
[15:34] <@NihabaAshi> Long ES @ 993.75 -> small size
[15:34] <@NihabaAshi> 3 only
[15:34] <@NihabaAshi> looking for a few ticks only because I'm using seconds chart for this trade
[15:35] <@NihabaAshi> Exited all ES Long @ 994.25 --> + 0.5
[15:36] <+drt> l es 93.75
[15:36] <+jbuch> Long ES @ 994
[15:38] <@NihabaAshi> Long ES @ 995.00 -> medium size
[15:38] <@NihabaAshi> 4 only
[15:39] <+JimL28> Shorts TF @ 557.8 «« simulator »»
[15:39] <+JimL28> 2
[15:40] <+JimL28> Covered TF Short @ 557.8 --> 0 «« simulator »»
[15:40] <+JimL28> Reverse and Enter Long TF @ 557.8 «« simulator »»
[15:41] <+JimL28> Long TF @ 557.7 -> Add «« simulator »»
[15:41] <+JimL28> 1
[15:42] <+drt> cl es 95
[15:42] <+JimL28> exit stop raised TF @ 558 «« simulator »»
[15:42] <+jbuch> exit stop set ES @ 994.75
[15:43] <+JimL28> Trailing Stop Hit TF @ 558 --> + 0.5 «« simulator »»
[15:44] <@NihabaAshi> Exited all ES Long @ 995.00 --> 0
[15:44] <@NihabaAshi> punks
[15:44] <@NihabaAshi> that's a stop runner
[15:44] <@NihabaAshi> If I'm right...it'll pop back up above 995.00
[15:45] <@NihabaAshi> yep
[15:45] <@NihabaAshi>
[15:46] <@NihabaAshi> somebody didn't want us impatient traders to stay on board
[15:46] <+luffy> damn
[15:47] <+jbuch> Exited all ES Long @ 994.75 --> + 0.75
[15:47] <@NihabaAshi> I won't touch it now unless it drops a few points to setup a decent entry because I see "too much" resistance above.
[15:48] <+drt> l es 95
[15:49] <+JimL14> wrbtrader, I put an Aug 5 Sim P&L stmt in the wrong place yesterday, i also put 1 in the continuing topic header for JimL, so you can delete the orphan 1 if you get a chance
[15:49] <+JimL14> i'll try & not make that mistake again
[15:50] <+drt> cl es 94
[15:50] <@NihabaAshi> Ok...I'll move it later
[15:51] <+JimL14> you can delete the orphan, or whatever works best for your system so its not messy
[15:52] <+JimL14> I'm done see ya'll 2morrow
[15:55] <+jbuch> Long ES @ 994.25
[15:59] <+jbuch> Exited all ES Long @ 994.5 --> + 0.25
[16:04] <+jbuch> night all
[16:14] <+luffy> good tradng guys
[16:14] <+luffy> cya tmr
[16:20] <@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.
[16:29] <@NihabaAshi> Take care all and see all tomorrow.
[16:30] * NihabaAshi is now known as NihabaAshi_away

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