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Session Start: Tue Aug 11 09:10:23 2009
Session Ident: #futurestrades
[09:10] * Now talking in #futurestrades
[09:10] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:11] <@NihabaAshi> Oil still going higher @
http://money.cnn.com/2009/08/11/markets ... ney_latest [09:12] <@NihabaAshi> Good morning all and Tues, Weds, Thurs and Fri I'm expecting some fireworks along with one of these trading days to be a trend day.
[09:14] <@NihabaAshi> Actually, it already started around 0830am est
[09:18] <werner> mmm 1600 is there.....
[09:20] <+werner> damm,,,,, that i not hold that last one
[09:23] <JimL14> wrbtrader, just list the reason why fireworks & trend day this wk? Briefly, when you get a chance. What are the dependent variables that lead to that conclusion. Teaching event for us. TY
[09:24] <@NihabaAshi> I did the other day and will do a quick summary again now...
[09:24] <@NihabaAshi> 1. Daily chart shows contraction that often leads to volatility spikes
[09:25] <@NihabaAshi> 2. FED is usually the cause of most trend days.
[09:25] <@NihabaAshi> 3. We have key economic events this week Aug 11th - 14th
[09:26] <@NihabaAshi> 4. One of the world's key markets (Light Crude Oil) is the talk of the town again
[09:26] <@NihabaAshi> 5. Other commodities are making headline news via either new lows or new highs (yesterday I mentio sugar futures at highs)
[09:28] <@NihabaAshi> 6. Yesterday we had a low volatility range day and that helps setup a pending trend day or strong parabolic price movement
[09:29] <@NihabaAshi> Together, will that info coming together...it's a good time for me to be increasing my position size Aug 11th - 14th.
[09:29] <@NihabaAshi> I'll go back to normal position size next week.
[09:30] <drt>
everyone, thanks for yr thoughts
[09:30] <@NihabaAshi> Almost forgot...
[09:30] <+JimL14> excellent, thank you for taking the time, I'll remember
[09:30] * Fores2stay_Away is now known as Forex2stay
[09:30] <@NihabaAshi> There's the record $75 billion bonds and notes being sold this week
[09:31] <@NihabaAshi> Enough to just up the markets nicely.
[09:31] <@NihabaAshi> I don't care which direction the market goes...I just want it to move strongly and be directional.
[09:32] <@NihabaAshi> Shorts ES @ 999.25 -> large size
[09:32] <@NihabaAshi> 9 only
[09:33] <@NihabaAshi> Covered all ES Short @ 999.75 --> - 0.5
[09:35] <@NihabaAshi> Long ES @ 1001.50 -> large size
[09:36] <@NihabaAshi> 9 only
[09:36] <+drt> s es 01.25
[09:37] <@NihabaAshi> Exited all ES Long @ 1001.25 --> - 0.25
[09:37] <@NihabaAshi> If it doesn't goe my way soon after entry...I'm looking for an exit.
[09:39] <+drt> cs es 00.50
[09:40] <@NihabaAshi> Shorts ES @ 999.50 -> large size
[09:41] <@NihabaAshi> 9 only
[09:44] <@NihabaAshi> Covered all ES Short @ 999..25 --> + 999.50 - 999..25
[09:44] <@NihabaAshi> subtraction error
[09:45] <@NihabaAshi> Covered all ES Short @ 999.25 --> + 0.25
[09:45] <TraderG> is SOON quantifyable or it is intuition?
[09:45] <@NihabaAshi> FYI - I have a new IRC script that allows posting on IRC or twitter at the same time.
[09:46] <@NihabaAshi> I'm still working on it because the trades sent through twitter is delayed by about 30 secs while the trade sent through IRC at the exact same moment has no delay.
[09:46] <@NihabaAshi> Simply, it's still in beta design and hopefully it'll be available soon.
[09:47] <@NihabaAshi> I've been using it a lot lately with a few small hiccups
[09:47] <+TraderG> [09:37:37] <NihabaAshi> If it doesn't goe my way soon after entry...I'm looking for an exit.
[09:47] <+TraderG> [09:45:07] <TraderG> is SOON quantifyable or it is intuition?
[09:48] <@NihabaAshi> the position size is having impact on my exits...keeping a tight stop on things via adjusting it soon after entry.
[09:49] <@NihabaAshi> Got some new volatility showing up now...
[09:49] <@NihabaAshi> Needs to drop Eminis a little lower into a key price area for possible setups or take it back up around 999 price area
[09:51] <@NihabaAshi> Eurex DAX had the best price action today so far soon after it open early this morning.
[09:51] <pdays> Long ES @ 996.75
[09:51] * codehead_afk is now known as codehead
[09:51] <+pdays> Exited all ES Long @ 997.25 --> + 0.5
[09:53] <@NihabaAshi> Shorts ES @ 996.75 -> large size
[09:54] <@NihabaAshi> 9 only
[09:54] <+jbuch> Shorts ES @ 996.75
[09:55] <+jbuch> Covered all ES Short @ 997.25 --> - 0.5
[09:56] <@NihabaAshi> Covered all ES Short @ 997.50 --> - 0.75
[09:56] <@NihabaAshi> Shorts ES @ 997.25 -> large size
[09:56] <@NihabaAshi> 9 only
[09:57] <@NihabaAshi> intuition in reaction to prior trade
[09:57] <@NihabaAshi> Covered all ES Short @ 998.00 --> - 0.75
[10:00] <@NihabaAshi> Shorts ES @ 998.00 -> large size
[10:00] <@NihabaAshi> 9 only
[10:00] <@NihabaAshi> still bearish...just tough to hold on to the shorts
[10:01] <@NihabaAshi> May catch a runner hear if more volatility shows up.
[10:02] <@NihabaAshi> If the volatility doesn't show up...it'll start to retrace back upwards fairly easy.
[10:05] <@NihabaAshi> loosen up stop (raised it) to give it more wiggle room to prevent another stop out like what happen on my only winner of the day +0.25 points
[10:06] <@NihabaAshi> volatility slowly declining...
[10:06] <@NihabaAshi> Need another volatility spike to keep me in this trade
[10:07] <@NihabaAshi> Covered all ES Short @ 996.25 --> + 1.75
[10:10] <+jbuch> Shorts ES @ 996
[10:13] <@NihabaAshi> volatility still declining
[10:15] <+jbuch> Covered all ES Short @ 996.5 --> - 0.5
[10:20] <@NihabaAshi> Shorts ES @ 995.75 -> large size
[10:20] <@NihabaAshi> 9 only
[10:20] <@NihabaAshi> weak support broken @ 996.00
[10:21] <@NihabaAshi> still a tough trade with the declining volatility
[10:25] <+luffy>
[10:25] <+luffy> i got killed today... shoulda been shorting... i was buying
[10:26] <+luffy> -5.5 pts...
[10:26] <@NihabaAshi> Luffy...if it makes you feel better...
[10:26] <@NihabaAshi> I have been bearish all morning...
[10:27] <@NihabaAshi> Out of 7 trades...only one was a Long (small loss).
[10:27] <+luffy> haha next time i'l ask u first
[10:27] <+luffy> its ok, i paid cheap tuition
[10:27] <@NihabaAshi> However, I'm about -4 points for the day
[10:27] <+luffy> u'll make it up...
[10:27] <+luffy> i'll make it up too
[10:27] <+luffy> just gonna be real picky about my next trade
[10:28] <+luffy> i have an idea.. imagine everyday u're down 1000 or whatever
[10:28] <@NihabaAshi> Simply, you can have the direction correct but still get losses
[10:28] <+luffy> and u spend the day making it back...
[10:28] <+luffy> that way i wont take stupid trades...
[10:28] <+luffy> true wrbtrader
[10:28] <@NihabaAshi> I gave myself till 11am est to get profitable for the day.
[10:28] <+luffy> if not u stop for the day?
[10:28] <@NihabaAshi> Looks like my current open Short position will do that by the deadline.
[10:29] <+luffy> cool
[10:29] <@NihabaAshi> Have to leave around 1115am est for a dentist visit of a aching tooth.
[10:31] <+luffy> ic
[10:33] <@NihabaAshi> Covered all ES Short @ 993.75 --> + 2
[10:34] <+TraderG> it seems that yesterday when I wrote that SPY is more profitable than ES I was wrong. As of this morning I went long 500 SPY shares and short 1 ES cont and so far they are almost canceling each other.g
[10:34] <@NihabaAshi> Just can't catch a runner today.
[10:36] <codehead> long ES 993.25 <paper> 1 pt stop
[10:36] <+jbuch> Shorts ES @ 993.5
[10:37] <@NihabaAshi> Shorts ES @ 993.00 -> medium size
[10:37] <@NihabaAshi> 4 only
[10:37] <@NihabaAshi>
[10:37] <@NihabaAshi> intuition trade in reaction to prior trade stop out
[10:38] <+codehead> stop too tight, make it 6 ticks
[10:38] <+jbuch> Covered all ES Short @ 993.25 --> + 0.25
[10:39] <@NihabaAshi> Covered all ES Short @ 993.75 --> - 0.75
[10:41] <+jbuch> Long ES @ 994
[10:41] <@NihabaAshi> Long ES @ 994.25 -> medium size
[10:41] <@NihabaAshi> 4 only
[10:42] <+codehead> exit half ES +1.25 <paper>
[10:42] <@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.
[10:42] <+codehead> raise stop to 992.25 <paper>
[10:42] <@NihabaAshi> Exited all ES Long @ 994.00 --> - 0.25
[10:42] <@NihabaAshi> geeesh
[10:43] <@NihabaAshi> looking for a decent re-entry into that Long position
[10:43] <@NihabaAshi> hopefully it retrace downward without any volatility
[10:44] <+jbuch> Exited ES Long @ 994 --> 0
[10:44] <+jbuch> Reverse and Enter Short ES @ 994
[10:47] <@NihabaAshi> Long ES @ 993.50 -> medium size
[10:47] <@NihabaAshi> 4 only
[10:48] <@NihabaAshi> intuition
[10:48] <+codehead> exit remainder ES +.50 <paper>
[10:48] <@NihabaAshi> Exited all ES Long @ 993.25 --> - 0.25
[10:49] <@NihabaAshi> volatility declining again
[10:49] <@NihabaAshi> It spooked me out of that Long
[10:50] <+codehead> 992.50 is "a" level, if it hold we can legitimately bounce a decent move, else 990-988
[10:50] <@NihabaAshi> expecting a volatility spike here soon
[10:50] <+codehead> failure is touch of 3 ticks below level
[10:50] <+jbuch> Covered all ES Short @ 993.5 --> + 0.5
[10:51] <@NihabaAshi> Long ES @ 994.00 -> medium size
[10:51] <@NihabaAshi> 4 only
[10:51] <+codehead> potential for inv ghost on cci
[10:51] <+codehead> favoring long
[10:52] <@NihabaAshi> I started the firest of these 3 Long positions @ 994.25 and now I'm back in a Long @ 994
[10:52] <@NihabaAshi> just churning
[10:57] <@NihabaAshi> ES should have retested 995.00 by now
[10:59] <+werner> Long NQ @ 1589.00
[10:59] <@NihabaAshi> Exited all ES Long @ 994.50 --> + 0.5
[10:59] <@NihabaAshi> time ran out...early exit.
[11:00] <@NihabaAshi> Need to get ready for a visit to the dental office.
[11:00] <@NihabaAshi> Be back later around 1245pm est.
[11:00] * NihabaAshi is now known as NihabaAshi_away
[11:01] <+luffy> cya
[11:07] <+codehead> long 992.5 1c <paper> stop 991.75
[11:13] <+werner> Exited all NQ Long @ 1588.50 --> - 0.5
[11:13] <+werner> cant hold it
[11:14] <+codehead> exit ES -.75 on stop <paper>
[11:23] <petrpe> Shorts NQ @ 1587.25
[11:26] <+jbuch> Shorts ES @ 991
[11:29] <+petrpe> Covered all NQ Short @ 1587.75 --> - 0.5
[11:30] <+jbuch> Covered all ES Short @ 992.25 --> - 1.25
[11:34] <+jbuch> shoot tried to get back in that short at 992 no fill.
[11:49] <+petrpe> Shorts NQ @ 1588.5
[11:51] * NihabaAshi_away is now known as NihabaAshi
[11:51] <@NihabaAshi> back early...there about an hour behind schedule and I asked for a re-appointment
[11:51] <+jbuch> Shorts ES @ 991.75
[11:52] <Forex2stay> wrbtrader is the dentist covered under the Canada gov't medical coverage?
[11:52] <@NihabaAshi> Partial
[11:53] <+Forex2stay> for all residents?
[11:53] <@NihabaAshi> Here in Quebec you get one free annual visit, one free cleaning and something free to do with basic cavity work.
[11:54] <@NihabaAshi> everything is involving dental is via private insurance.
[11:54] <@NihabaAshi> Could be differnt in other provinces.
[11:54] <+Forex2stay> okay thank you was just wondering how it worked.
[11:54] <@NihabaAshi> Also, children up to a certain age is free everything almost...
[11:54] <@NihabaAshi> I think that age is 6
[11:55] <+Forex2stay> wow
[11:55] <@NihabaAshi> spouse knows more accurate info than me...she's the one that keeps up with all the schedules and such.
[11:55] <+petrpe> Covered all NQ Short @ 1589.75 --> - 1.25
[11:56] <+Forex2stay> EURUSD finally showing a little life
[11:56] <@NihabaAshi> A several years ago when I was not a legal resident...my first dental visit involved two root canals, cleaning, two cavities work...
[11:56] <@NihabaAshi> Cost me $325 cash
[11:57] <@NihabaAshi> or something like that.
[11:58] <+jbuch> Covered all ES Short @ 992.75 --> - 1
[11:59] <@NihabaAshi> As a self-employ trader...a lot of medical or dental stuff is deductible if you're using private insurances but it's kind'uv complicated.
[12:00] <+Forex2stay> i use a High-Deductible Plan here in the US, so i can pretty much deduct everything...even the Interest I make in the HSA savings account.
[12:01] <+Forex2stay> kind of nice really
[12:01] <@NihabaAshi>
[12:03] <@NihabaAshi> Got a bullish signal but I'm hoping for a small retracement on declining volatility for a better entry as an intuition trade
[12:04] <@NihabaAshi> If it takes off without me...no problem
[12:06] <JimL14> finally back online/charts etc., just looking @ action, gold been flat, US$ & oil bouncing a little here, bonds finally pulling back a little, so maybe eminis bouncing here or trying to put in a w-bottom
[12:07] <@NihabaAshi> Yeah...it's at a decent support level that's being well watched.
[12:08] <@NihabaAshi> Will be interesting to see how it reacts if this support fails because it's the biggest support area of the trading day.
[12:08] <+JimL14> the trend dwn this am looks easy until you study it closer, there was alot of quick countrend bounces
[12:08] <+jbuch> tell me about it.
[12:12] <+jbuch> Long ES @ 992.25
[12:20] <+jbuch> Exited 1/2 ES Long @ 993.75 --> + 1.5
[12:22] <+jbuch> Exited Remainder ES Long @ 993.25 --> + 1
[12:35] <Nesi> test
[12:35] <+jbuch> whats happening nes
[12:36] <+Nesi> problem with othernet servers
[12:45] <@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.
[12:49] <+jbuch> Shorts ES @ 992
[12:54] <+jbuch> Covered 1/2 ES Short @ 990.5 --> + 1.5
[13:02] <+jbuch> Covered Remainder ES Short @ 991.5 --> + 0.5
[13:05] <@NihabaAshi> Long ES @ 991.25 -> medium size
[13:05] <@NihabaAshi> 4 only
[13:05] <+codehead> we hit tick extreme on that push, potential dbl bottom
[13:06] <+codehead> bond action i'm told
[13:08] <+JimL14> nq & oil stayed off the boottoms while es & tf 2x bottomed, treasury auction action, watch US$ also
[13:10] <+jbuch> does any one have a good news source for treasury auction info
[13:11] <+codehead> recent ES low is 989.75, nice bounce off that last time
[13:12] <+JimL14> my bad; bottoms wrong noun, should have said "last swing lows", good question JB, since I've had internet problems today I've been searching to incorp into my radar, I could some help best I've seen is from Bloomberg news reports
[13:12] <+codehead> 120 min up-channel broken today tho
[13:13] <+JimL14> it would be nice to find a regular reporting sites vis rss or twitter
[13:14] <+codehead> long ES 990.75 <paper> stop 989.5
[13:17] <@NihabaAshi> A profit target just appeared @ 991.50
[13:19] <+jbuch> Long ES @ 991.75
[13:20] <+jbuch> chasing
[13:20] <@NihabaAshi> Exited all ES Long @ 991.50 --> + 0.25
[13:20] <@NihabaAshi>
[13:20] <+jbuch> nice entry codehead
[13:20] <+codehead> exit half +1.00 <paper>
[13:21] <+codehead> thanks, i took it real before that at 991.00, took 3 ticks and too nervous to get back in, so took it paper
[13:21] <+codehead> :-/
[13:22] <+JimL14> bllomberg treasury report i mentioned earlier, i haven't found a specific reporting source yet, but i added a ZN (10 yr) chart to monitor
[13:22] <+JimL14>
http://www.bloomberg.com/apps/news?pid= ... IpArDnlv4o[13:22] <@NihabaAshi> Strength showing up for the Long side due to multiple bullish signals...
[13:22] <@NihabaAshi> Question now is how far up will it move.
[13:24] <+codehead> exit ES +1.50 <paper>
[13:24] <+codehead> target was 992.75, but i'm apparently even nervous with paper trades ;-)
[13:25] <+jbuch> Exited all ES Long @ 991.75 --> 0
[13:26] <+codehead> the thing is, if we lose that, should get a decent move down, maybe 984 area
[13:26] <+codehead> some support 988 area first
[13:26] <@NihabaAshi> Marketing just hoovering over that key support by a point or so.
[13:27] <@NihabaAshi> A little spike downward and will have a new intraday low
[13:32] <+jbuch> whipsaw
[13:39] <+TraderG> 990.25 was touched 7 times 2day
[13:39] <+TraderG> on the 1 min chart
[13:43] <+TraderG> EJ looks like spaghetti 4 the last 2 hours
[13:43] <+luffy> love to grab those stops under that
[13:59] <+petrpe> Shorts NQ @ 1590.75
[14:01] <+petrpe> Covered all NQ Short @ 1591.5 --> - 0.75
[14:01] <+Forex2stay> yes EJ had a good run this morning and was able to catch some of it...now's it's dead
[14:06] <+TraderG> my UPS's past another test. HUGH lightning here. heard it on the phone but no effect on the computers
[14:08] <@NihabaAshi> Long ES @ 994.50 -> medium size
[14:08] <@NihabaAshi> 3 only...not 4 contracts
[14:09] <@NihabaAshi> messed up trade...got caught changing the order @ 993.75 and it started moving higher
[14:10] <@NihabaAshi> Exited all ES Long @ 995.00 --> + 0.5
[14:11] <@NihabaAshi>
[14:11] <+TraderG> people r so STRANGE (wanted 2 use another word but it is not politically correct) My FX platform went down and when I called support and they asked me if there is anything ELSE they can do, I said that since ALL my trades are profitable they should just send me the profit without me initiating a trade (since I cannot) and the lady on the other side started to appologize and said that this would be against co
[14:11] <+Forex2stay> what kind of UPS do you have TraderG?
[14:11] <+TraderG> APC and CyberPower
[14:12] <+Forex2stay> how many minutes/hours do you get from it?
[14:12] <+TraderG> APC I don't know but CP claims about 40 minutes with 1 22" monitor
[14:13] <+TraderG> it has a readout the APC does not
[14:13] <+Forex2stay> thanks
[14:13] <+TraderG> urwc
[14:14] <+TraderG> there was a HUGH volume spyke about 5 minutes ago. any 1 had it also (or is it the lightning here)?
[14:15] <+TraderG> spike
[14:15] <+luffy> yea
[14:15] <+luffy> buying
[14:15] <+TraderG> or dumping
[14:15] <+jbuch> i have it as well
[14:15] <+luffy> probably shorts covering
[14:16] <+TraderG> i often wondered about that. Does short covering slow a decline or accelerate an upmove?
[14:16] <+luffy> gives u a jump
[14:17] <+luffy> and then back to nothing
[14:18] <+TraderG> looks like dumping 2 me.
[14:19] <+TraderG> but I could b wrong
[14:19] <+luffy> who's dumping G?
[14:19] <+luffy> longs dumping?
[14:19] <+luffy> u thinking?
[14:19] <+TraderG> I don't know
[14:19] <+TraderG> I had many discussions about this.
[14:20] <+TraderG> read many threads about VSA. I don't understand it
[14:20] <+TraderG> [14:19:03] <luffy> longs dumping? you said short covering >>> maybe the shorts
[14:20] <+TraderG> I don't think it matters. PRICE is KING.
[14:21] <+luffy> yea
[14:21] <+luffy> doesnt matter
[14:21] <+luffy> just trade price
[14:21] <+jbuch> i don't think thta people who wrote it understand it either
[14:21] <+luffy> it wants to go up.. follow
[14:21] <+luffy> lol
[14:21] <+TraderG> hahahaha
[14:21] <+TraderG> they r probably from CNBC
[14:21] <+jbuch> lol
[14:21] <+luffy> haha
[14:23] <+Forex2stay> speaking of VSA...the one thing i do watch is if price is going down and volume is getting lower (usually 3 candles for me) then this usually tells me price is going up...simply price goes down when there is over supply..over supply means high volume.
[14:23] <+Forex2stay> on down moves
[14:23] <+luffy> paper short 995
[14:24] <+luffy> i'm beyond max loss for 1 day
[14:24] <+JimL14> vsa is comparable to elliott wave, gann, lucas, etc, everything and anything can be explained with enough time & data, but if helps you in your execution of the battle plan great, whatever works,
[14:25] <+luffy> all that shit is tring to explain which way price is trying to go
[14:25] <+Forex2stay> yes i guess the key is to have a battle plan....
[14:26] <+luffy> i got hammered today
[14:26] <+luffy> just revised my battle plan
[14:26] <+Forex2stay> lol
[14:26] <+luffy> super conservative!
[14:26] <+luffy> at least i didn't blow up
[14:26] <+Forex2stay> everyday is a new leason
[14:26] <+Forex2stay> least for me
[14:27] <+luffy> forex, traderg. are i guys consistently profitable live?
[14:27] <+luffy> i mean are u guys*
[14:27] <+luffy> i can say i'm not
[14:27] <+luffy> but learning
[14:27] <+jbuch> beautiful trend take shorts all morning and I am at breakeven
[14:27] <+TraderG>
) u r funny
[14:28] <+TraderG> luffy I mean
[14:28] <+TraderG> anyways, 2 answer u the answer is no
[14:29] <+luffy> k
[14:29] <+luffy> who is consistently profitable here?
[14:29] <+luffy> wrbtrader..
[14:29] <+luffy> oicu
[14:29] <+luffy> jb?
[14:29] <+TraderG> I looked at my trading history in FX for the last 3 years. The longest I was profitable (with little ups and downs) was 4 months and then....... BAMM, lost all the profits and then some
[14:29] <+jbuch> yup
[14:29] <+Forex2stay> not sure what definition of consistant is, but I've had two losing months this year.
[14:30] <+luffy> how about consistently up every month..
[14:30] <+luffy> every quarter?
[14:30] <+Forex2stay> one was -1.5% and the other -4.8%
[14:30] <+TraderG> ask me in 6 months
[14:30] <+luffy> ok
[14:30] <+luffy> hopefully i'll be profitale in 6 mo too
[14:31] <+TraderG> went through a complete mind overhaul
. so far seems 2 work.
[14:31] <+luffy> nice
[14:31] <+TraderG> it's nothing 2 write home about. that is why i need 6 months
[14:32] <+TraderG> I had so many AH HA moments that it is not funny
[14:33] <+TraderG> nevertheless, i think that I am very close or maybe there but time will tell
[14:34] <+TraderG> luffy, how many hours (approximately) have you spent looking @ charts and reading/talking/learning 2 trade?
[14:34] <+luffy> i started reading last july
[14:34] <+luffy> quit my job and traded full time since last nov
[14:34] <+luffy> went cash in june
[14:34] <+luffy> not profitable yet
[14:34] <+TraderG> u have a full time job I guess....
[14:34] <+luffy> no
[14:34] <+luffy> fulltime job is to learn to trade
[14:35] <+TraderG> so how many hours
???
[14:35] <+luffy> total screen time?
[14:35] <+luffy> iono...
[14:35] <+luffy> 9 mo of screentime
[14:35] <+luffy> 9 mo of reading books
[14:35] <+TraderG> 8 hours/day?
[14:35] <+luffy> read every fucking book there is on PA
[14:35] <+luffy> yea
[14:35] <+TraderG> so that is about 2000 hours/year
[14:36] <+luffy> wow that's alot
[14:36] <+luffy> ok
[14:36] <+luffy> haha
[14:36] <+TraderG> i guess you have heard of the 10,000 hour rule
[14:36] <+luffy> good i got 1500 hours under my belt
[14:36] <+luffy> no i heard of the 2000 hr rule
[14:37] <+jbuch> thats a new one to me
[14:37] <+TraderG> it takes 10k hours in most professions to become an expert
[14:37] <+TraderG> i think luffy was joking
[14:37] <+TraderG>
)
[14:37] <+luffy> i honestly don't know how long
[14:37] <+luffy> but i'mma make it
[14:37] <+jbuch> ahh
[14:37] <+luffy> i dont wanna put a req on it
[14:38] <+luffy> u may then not push urself because u think it takes 10 years
[14:38] <+TraderG> [14:37:30] <luffy> but i'mma make it
???? i'mma
[14:38] <+luffy> i will make it
[14:38] <+TraderG> good 4 u
[14:38] <+TraderG> u will
[14:38] <+luffy>
[14:38] <+luffy> key is discipline... i think
[14:38] <+luffy> that's it
[14:38] <+TraderG> the closer i get the more I push
[14:38] <+luffy> have a plan with a edge
[14:38] <+luffy> then don't break discipline
[14:38] <+luffy> that's it
[14:39] <+luffy> sounds easy
[14:39] <+luffy> so hard ot do
[14:39] <+jbuch> no shit it sounds so easy
[14:39] <+luffy> that's why its all down to discipline
[14:39] <+TraderG> my biggest problem is cutting the winners short. If I could solve that..... you would need an appointment to get an appointment with me
)
[14:39] <+luffy> lol
[14:39] <+luffy> u scale out?
[14:40] <+jbuch> let ur winners run and cut your losers short
[14:40] <+TraderG> y. most of the time
[14:40] <@NihabaAshi> Long ES @ 994.25 -> small size
[14:40] <+luffy> exiting is always tough..
[14:40] <@NihabaAshi> 3 only
[14:40] <+TraderG> it is as if i am possessed to close the trade.
[14:40] <+jbuch> heres another go with the trend.
[14:41] <+luffy> u scared of givng profits back?
[14:41] <+jbuch> so easy
[14:41] <+luffy> oh yea i stil have paper short 995
[14:41] <+luffy> move stop to be+1
[14:41] <+luffy> tagged
[14:42] <+luffy> that's whack
[14:42] <+luffy> i think jesse said... be afraid of keeping ur losers be hopeful that ur winners grow
[14:42] <+luffy> reverse how ppl usually think
[14:42] <+TraderG> i think that when we close a trade too early it is because we want to feel good
[14:42] <+luffy> yea
[14:42] <+luffy> but its bad
[14:42] <+luffy> its undisciplined
[14:42] <+luffy> if u plan for bigger tgt
[14:43] <+TraderG> volume is almost dead on a horizontal price >>>> it will explode soon. don't know the direction
[14:44] <+TraderG> gudging by FX I would say we r going down
[14:45] <+TraderG> judging
[14:47] <@NihabaAshi> Exited ES Long @ 993.25 --> - 1
[14:47] <@NihabaAshi> Reverse and Enter Short ES @ 993.25
[14:47] <+jbuch> Exited all ES Long @ 993.5 --> + 1.75
[14:48] <+luffy> there we go
[14:49] <@NihabaAshi> volatility just died as soon as the interval completed
[14:49] <@NihabaAshi> as if a computer made specific trades and then coded to stop at a specific time
[14:50] <@NihabaAshi> Covered all ES Short @ 993.75 --> - 0.5
[14:51] <@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.
[14:51] <@NihabaAshi> Long ES @ 994.25 -> large size
[14:52] <@NihabaAshi> 6 only
[14:53] <+jbuch> Long ES @ 994.25
[14:55] <Nesi> nice guys
[14:55] <@NihabaAshi>
[14:55] <+jbuch> Exited all ES Long @ 994.5 --> + 0.25
[15:00] <+jbuch> Shorts ES @ 995.25
[15:00] <+jbuch> oops long
[15:02] <@NihabaAshi> I still got some support from Oil and Gold...only reason why I'm still Long above 995
[15:06] <tomosyn57> Long SSO @ 30.72
[15:06] <@NihabaAshi> Exited ES Long @ 996.50 --> + 2.25
[15:06] <@NihabaAshi> Holding 1 contract remainder
[15:07] <+tomosyn57> late to the party
[15:07] <+jbuch> Covered all ES Short @ 996.25 --> - 1
[15:08] <+werner> Shorts NQ @ 1599.00
[15:09] <@NihabaAshi> We didn't get a trend day but we did get a strong parabolic price action beginning around 0830am - 1115am est
[15:09] <+tomosyn57> Exited Remainder SSO Long @ 30.68 --> - 0.04
[15:09] <@NihabaAshi> Exited Remainder ES Long @ 995.00 --> + 0.75
[15:09] <+werner> Covered all NQ Short @ 1597.75 --> + 1.25
[15:09] <@NihabaAshi> However, still a few more trading day's remaining in the week from that "expected" trend day.
[15:11] <+Nesi> Shorts ES @ 994.50 -> Add «« simulator »»
[15:20] <@NihabaAshi> Long ES @ 995.00 -> small size
[15:20] <@NihabaAshi> 1 ibkt
[15:20] <@NihabaAshi> 1 only
[15:21] <+JimL14> When the $ES closed lower on a pre-FOMC announcement day, it closed up on 44 and lower on 19 FOMC announcement sessions (since 01/02/1990)
[15:21] <+JimL14>
http://www.tradingtheodds.com/[15:23] <@NihabaAshi> thanks for the info
[15:28] <+werner> Shorts NQ @ 1599.00
[15:28] <+Nesi> what is your twitter url.. wrbtrader?
[15:30] <+jbuch> Shorts ES @ 995.5
[15:31] <+werner> Covered all NQ Short @ 1598.00 --> + 1
[15:31] <@NihabaAshi> Exited ES Long @ 995.25 --> + 0.25
[15:33] <@NihabaAshi> Nesi...it's wrbtrader
[15:33] <+Nesi> thanks
[15:34] <+jbuch> not to sound like an old foggie but is that something u do over your phone or on the computer?
[15:35] <@NihabaAshi> computer and there's now a API for cell phones
[15:35] <@NihabaAshi> Haven't tried it on a cell phone
[15:35] <+jbuch> Covered 1/2 ES Short @ 994.5 --> + 1
[15:36] <+jbuch> sqeezing a point out of this market is like pulling teeth
[15:36] <+werner>
[15:38] <+jbuch> Covered all ES Short @ 995.25 --> + 0.25
[15:38] <+JimL14> don't surprised if this walks back up to the opens, so that it look like nada on daily chart
[15:39] <@NihabaAshi> Long ES @ 995.00 -> small size
[15:39] <+JimL14> b4 fomc 2tomorw
[15:39] <@NihabaAshi> 1 only
[15:39] <+jbuch> it better start trotting
[15:43] <@NihabaAshi> If this is going to go higher...they sure are trying hard to shake traders off.
[15:43] <+jbuch> broke the down trend line of this lii wedge with good vol
[15:44] <+JimL14> computer algorythrims buying,selling,buying,....
[15:45] <@NihabaAshi> Yeah...they're going to be at it heavy this week
[15:47] <@NihabaAshi> Exited ES Long @ 995.50 --> + 0.5
[15:47] <@NihabaAshi>
[15:47] <@NihabaAshi> geeesh
[15:47] <+jbuch> brutal
[15:49] <+jbuch> good day to fade tick extremes
[15:49] <+jbuch> and price extremes
[15:51] <@NihabaAshi> Long ES @ 995.00 -> small size
[15:51] <@NihabaAshi> 1 only
[15:54] <@NihabaAshi> Exited ES Long @ 994.50 --> - 0.5
[15:54] <@NihabaAshi> Reverse and Enter Short ES @ 994.50
[15:54] <@NihabaAshi> 1 only
[15:57] <+werner> done...gn all
[15:58] <+jbuch> have a good one werner
[15:58] <+werner> you too
[16:00] <@NihabaAshi> Covered ES Short @ 992.00 --> + 2.5
[16:00] <+jbuch> beauty great exit to
[16:02] <+jbuch> tomorrows opening will be interesting
[16:02] <@NihabaAshi> agree...I'll be here early around 8am est
[16:04] <@NihabaAshi> FYI - Wont be here for trading the morning of Aug 13th Thurs for personal reasons.
[16:04] <JimL14> Volume on declining stocks on the NYSE today, still lower than yesterday's NYSE Declining Volume despite $ES_F up yesterday/down today.(TradingTheOdds)
http://www.tradingtheodds.com/[16:15] <+TraderG> greed got the better of me 2day. after being up 0.94% I ended up with only 0.13% with a drawdown of 0.8%. this is not good
[16:18] <+Forex2stay> i'm done also..goal met but hit it early most of the day was like watchng paint dry...see everyone tomorrow
[16:18] <+TraderG> what is your daily goal in %?
[16:19] <+Forex2stay> 1/2% TraderG
[16:19] <+TraderG> I am aiming @ 0.3%-0.5%
[16:19] <+TraderG> so 2day I was way over and ended up with much less
[16:20] <+Forex2stay> something i learned watching wrbtrader and i now practice religously is to reduce my size once i'm at my goal...it has served me well...
[16:20] <+TraderG> and when I was around 0.8% it felt uncomfortable to continue trading but I wanted to get to 1%
[16:22] <+TraderG> my posion size varies with a 3:1 ratio. if I am down but think that it is a good trade I would increase size.
[16:22] <+TraderG> maybe it is not a good idea. have 2 think about this more
[16:23] <+TraderG> also forgot to take into account the time of day. (broke a cardinal rule there)
[16:24] <+TraderG> at least made enough to pay for the electricity that I used
[16:24] <+Forex2stay> a green day is a good day
[16:24] <+Forex2stay> stayed green and learned something to boot...that's a good day
[16:25] <+TraderG> problem is that after paying for the electricity not much is left for food
)
[16:25] <+Forex2stay>
[16:43] * Forex2stay is now known as Forex2stay_Away
[16:54] <@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.
Session Close: Tue Aug 11 18:40:24 2009
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