##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: Fri Aug 21 09:17:48 2009
Session Ident: #futurestrades
[09:17] * Now talking in #futurestrades
[09:17] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:21] <KBashi> good morning
[09:23] <jbuch> morning all
[09:29] * codehead_afk is now known as codehead
[09:29] <drt>
[09:30] <+KBashi> 25 pt NQ move frm last night
[09:30] <@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.
[09:30] <+jbuch> Long ES @ 1013
[09:31] <Forex2stay>
[09:33] <+jbuch> Exited all ES Long @ 1014.5 --> + 1.5
[09:33] <+KBashi> nice
[09:33] <+jbuch> thanks
[09:37] <+jbuch> moved moved all the way throughthe value area to resistance
[09:43] <+jbuch> Long ES @ 113.75
[09:43] <+jbuch> Long ES @ 1113.75
[09:46] <+jbuch> Exited all ES Long @ 1014 --> - 99.75
[09:46] <+jbuch> sorry that was incomprehensible moved all the way through the value area in the overnight to a a rejection area.
[09:46] <+jbuch> so we end up with chop to trade
[09:48] <+KBashi> looking blow off
[09:51] <+KBashi> covered +7.25 NQ
[09:52] <+jbuch> nice kb
[09:52] <+KBashi> thanks
[09:52] <+KBashi> still carrying some
[09:54] <+KBashi> covered remainder +8.25
[09:55] <+jbuch> Long ES @ 1013
[09:56] <pdays> Shorts ES @ 1013.25
[09:56] <+KBashi> tad oversold here
[09:59] <+jbuch> bam
[09:59] <+KBashi> that was harsh lol
[10:00] <@wrbtrader> Long ES @ 1018.00 -> large size
[10:00] <@wrbtrader> 6 only
[10:00] <+pdays> Covered all ES Short @ 1014.25 --> - 1
[10:01] <@wrbtrader> intution in reaction to the missed entry @ 1014.75
[10:01] <+jbuch> Exited all ES Long @ 1118.75 --> + 105.75
[10:01] <+KBashi> nice trade
[10:02] <@wrbtrader> Exited all ES Long @ 1017.75 --> - 0.25
[10:02] <+jbuch> Exited all ES Long @ 1018.75 --> + 5.75
[10:02] <+jbuch> thanks
[10:02] <+jbuch> what a pop
[10:02] <@wrbtrader> Long ES @ 1018.00 -> large size
[10:02] <@wrbtrader> 6 only again
[10:03] <@wrbtrader> same reason as prior trade
[10:03] <+KBashi> that was a huge pop
[10:04] <+Forex2stay> EURUSD and EURJPY taken off like a rocket
[10:04] <+KBashi> boom
[10:05] <@wrbtrader> Exited all ES Long @ 1022.00 --> + 4
[10:06] <+Forex2stay> market must of liked the existing home sales or, Bernanke is saying something they like
[10:07] <@wrbtrader> I missed that Long entry just before the pop by 5 seconds.
[10:07] <@wrbtrader>
[10:07] <+KBashi> existing home sales up 7%
[10:08] <@wrbtrader> I got caught changing the order from 4 contracts to 6 contracts @ 1014.75
[10:08] <+jbuch> tick already tagged 1012
[10:11] <+jbuch> rather1200
[10:16] <@wrbtrader> It's a short squeeze...looking to get uglier.
[10:18] <@wrbtrader> It was the 10am est Existing Home Sales Report that started this parabolic price rise.
[10:18] <@wrbtrader> The price rise then gotten stronger via Bernanke speech @ http://money.cnn.com/2009/08/21/news/co ... ney_latest
[10:27] <+jbuch> Long ES @ 1022.5
[10:29] <+jbuch> Exited all ES Long @ 1021.5 --> - 1
[10:30] <+jbuch> Long ES @ 1022
[10:36] <+jbuch> Exited all ES Long @ 1002.5 --> - 19.5
[10:36] <+jbuch> jeez
[10:36] <+jbuch> 1022.5
[10:36] <+jbuch> Exited all ES Long @ 1022.5 --> + 0.5
[10:42] <+jbuch> has any one read steenbargers books
[10:53] <+Forex2stay> Yes jb i've ready "Enhancing Traders Performance"
[10:55] <+jbuch> would u recommend
[10:55] <+Forex2stay> I'd recommend it...I liked it a lot...ready it several times
[10:55] <+jbuch> cool thanks
[11:16] <@wrbtrader> Bernanke saids "We Saved the World..." @ http://www.marketwatch.com/story//we-sa ... 8-21-10100
[11:16] <+Forex2stay> are you freakin kidding me?
[11:17] <+Forex2stay> that's crazy
[11:17] <+jbuch> i love it
[11:17] <Kbashi2> lol
[11:18] <+Forex2stay> he needs to get out more...i travel to Europe frequently and trust me no thinks we saved anything.
[11:18] <+Kbashi2> he saved his job.
[11:18] <+Forex2stay> lol
[11:21] <@wrbtrader> Comment by someone about the Beranke article...
[11:21] <@wrbtrader> "Bernake "We saved the world"...should read "We kicked the can down the road a little further"
[11:21] <@wrbtrader> YOU HAVEN"T FIXED SH#T!!!
[11:21] <+jbuch>
[11:21] <@wrbtrader> Here's another comment...
[11:21] <@wrbtrader> Bernake "We saved the world"...should read "We kicked the can down the road a little further"
[11:21] <@wrbtrader> YOU HAVEN"T FIXED SH#T!!!
[11:21] <+Kbashi2> hehe
[11:22] <+jbuch> added more fuel to the fire
[11:22] <@wrbtrader> ooops...
[11:22] <@wrbtrader> "Glad to see the good times are here again. I guess all the pain and suffering of the average American is just an illusion. Wow, glad he cleared that up for me!"
[11:22] <+jbuch> thatway when it does burn there will be nothing left
[11:28] <+jbuch> Shorts ES @ 1022.75
[11:33] <+jbuch> Covered all ES Short @ 1022.5 --> + 0.25
[11:36] <@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: Fri Aug 21 11:42:34 2009

Session Start: Fri Aug 21 11:42:34 2009
Session Ident: #futurestrades
[11:42] * Disconnected
[11:44] * Attempting to rejoin channel #futurestrades
[11:44] * Rejoined channel #futurestrades
[11:44] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[11:46] <@NihabaAshi> Othernet problems
[11:46] * wrbtrader was kicked by NihabaAshi (wrbtrader)
[11:46] * NihabaAshi is now known as wrbtrader
Session Close: Fri Aug 21 11:47:22 2009

Session Start: Fri Aug 21 11:47:22 2009
Session Ident: #futurestrades
[11:47] * Disconnected
Session Close: Fri Aug 21 11:47:22 2009

Session Start: Fri Aug 21 11:49:27 2009
Session Ident: #futurestrades
[11:49] * Now talking in #futurestrades
[11:49] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
Session Close: Fri Aug 21 12:23:05 2009

Session Start: Fri Aug 21 12:23:06 2009
Session Ident: #futurestrades
[12:23] * Disconnected
[12:23] * Attempting to rejoin channel #futurestrades
[12:24] * Rejoined channel #futurestrades
[12:24] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[13:39] <@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.
[13:45] <tomosyn57> Shorts SSO @ 32.26
[13:47] <+tomosyn57> Covered 1/2 SSO Short @ 32.22 --> + 0.04
[13:54] <+tomosyn57> Covered 1/4 SSO Short @ 32.25 --> + 0.01
[13:58] <@wrbtrader> The Death of Commodity ETFs and ETNs? @ http://www.cnbc.com/id/32509569
[14:07] <codehead> 1627.00 key # on NQ
[14:07] <+codehead> nice symmetry cluster
[14:07] <+codehead> including .500 of today's range
[14:11] <+Forex2stay> have a nice weekend everyone...see ya monday
[14:11] * Forex2stay is now known as Forex2stay_Away
[14:14] <@wrbtrader> Another trading day where the big price moves occurs within the 1 1/2 hours of trading and then the killer or boring low volatility tight range price action shows up.
[14:16] <@wrbtrader> Wish I had a crystal ball...I would be more productive with personal stuff between 11am - 3pm est.
[14:16] <@wrbtrader> Will setup a lemonade stand with the kids on Monday between 11am - 3pm est
[14:17] <@wrbtrader> 5 cents per cup
[14:25] <jbuch> lol
[14:27] <+jbuch> fixed my hot tub during the dead zone today
[14:54] <+jbuch> 5 1/2 hours of this
[14:55] <@wrbtrader> Today I notice a few recent commentaries over at traderslaboratory about time frame usage...
[14:55] <@wrbtrader> http://www.traderslaboratory.com/forums ... -6008.html
[14:55] <@wrbtrader> Here's my take on time frame usage...which is best.
[14:56] <@wrbtrader> First of all, if you're going to be "concerned" about what time frames are being used by others, you need to make a decision if you want to follow the most popular time frame used by Retail Traders or by Institutional Traders.
[14:56] <@wrbtrader> The average retail trader most likely is following (trading) via the 5min chart interval.
[14:57] <@wrbtrader> Yet, there's a popularity growing over the past few years with retail traders following tick charts, second charts et cetera.
[14:58] <@wrbtrader> In contrast, if you go to offices of Institutional Traders...
[14:58] <@wrbtrader> They ARE NOT following tick chart, volume spread charts et cetera.
[14:59] <@wrbtrader> The most common time frame chart I've seen at Institutional Traders was the 15min and 60min charts.
[15:00] <@wrbtrader> Another way of looking at it...retail traders tend to use lower time frame charts or the next fad types of charts...
[15:00] <@wrbtrader> The big boys tend to use the higher time frame charts.
[15:01] <@wrbtrader> One of the main reason why I keep a close eye on the 15min and 60min chart frames so that I can see what some of the big boys are looking at.
[15:03] <@wrbtrader> As for the algo guys or auto systems at Institutional Firms...the computers aren't charts...just price after some trigger.
[15:04] <@wrbtrader> Anyways, that's my opinion because I see too many retail traders wanting to follow the in crowd when if they are going to do such...they may as well follow the Institutiona Firms.
[15:08] <@wrbtrader> The lower time frame charts, tick charts was popularized by data software vendors during the 90's to attract retail traders like you and I by thinking we can see price flow as a way to know early what the big boys are doing.
[15:13] <@wrbtrader> Long ES @ 1024.50 -> medium size
[15:13] <@wrbtrader> 4 only
[15:14] <@wrbtrader> intution via the spike occurring after an ignored pattern signal earlier around 2:57pm est
[15:16] <@wrbtrader> Exited all ES Long @ 1026.50 --> + 2
[15:16] <+jbuch> was to cautious tried to get at 1024.25 after the pop
[15:17] <+jbuch> an ideas why institutions look at longer term timeframes
[15:17] <@wrbtrader> That's the negative impact of the watching that long enduring low volatility trading range...
[15:18] <@wrbtrader> It makes us a little cautious or hesitant when something appears.
[15:18] <+jbuch> yeah I catch myself doing that
[15:19] <+jbuch> shoulda been long from first break at23
[15:23] <JimL14> +1390 tick (highest of day) to -650 (lowest of the day) huh? pent-up demand i guess
[15:25] <JimL28> Long TF @ 580.6 «« simulator »»
[15:25] <+JimL28> 2
[15:26] <+JimL14> try a pullback oppty, but nq & tf only made 2x tops in that last push so any weakness I'm out
[15:31] <+JimL14> its amazing how much volume can exchange hands in the eminis, and $ goes no where
[15:33] <+JimL28> Exited 1/2 TF Long @ 581.4 --> + 0.8 «« simulator »»
[15:33] <@wrbtrader> Heads up...I want those in here to know that someday I'll be testing the "Grouptweet" feature like the one @ http://grouptweet.com/
[15:34] <+jbuch> Long ES @ 1026.25
[15:34] <+jbuch> oops short not long
[15:34] <@wrbtrader> It should be obvious by now where I'm going with these twitter conversations lately.
[15:34] <+JimL28> Exited Remainder TF Long @ 581.3 --> + 0.7 «« simulator »»
[15:34] <+jbuch> Exited ES Long @ 1026.25 --> 0
[15:34] <+jbuch> Reverse and Enter Short ES @ 1026.25
[15:35] <@wrbtrader> We have a lot of members not able to log in via IRC or have too many disconnection problems...they eventually stop showing up.
[15:35] <KBashi> i been getting a lot ofdisconnects today
[15:36] <@wrbtrader> Grouptweet or anything similar will allow for traders to view the messages on their computer, blackberry's, ipod, cell phone, computer or anything that has the ability to view "text messages".
[15:36] <@wrbtrader> I'm hoping to have something setup by early next year.
[15:37] <+KBashi> looks like profit taking here
[15:41] <+jbuch> Covered all ES Short @ 1025.5 --> + 0.75
[15:45] <@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.
[15:48] <+jbuch> Long ES @ 1024.75
[15:54] <+jbuch> Exited all ES Long @ 1025.75 --> + 1
[15:55] <+jbuch> hate to take it at 1 but hat .25 even moree plus
[16:01] <+JimL28> Long TF @ 580.5 «« simulator »»
[16:01] <+JimL28> 2
[16:02] <@wrbtrader> Long ES @ 1025.25 -> small size
[16:02] <@wrbtrader> 1 only
[16:04] <+jbuch> nice english on that last post.
[16:05] <+jbuch> have a good weekend all
[16:05] <@wrbtrader> no problem...it's been a long week
[16:05] <@wrbtrader> Exited ES Long @ 1025.50 --> + 0.25
[16:06] <@wrbtrader> Take care all and have a good weekend...I'm exhausted.
[16:06] <+jbuch> and they think that this isn't working
[16:06] * wrbtrader is now known as wrbtrader_away

Go Back To TheStrategyLab.com Homepage