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 Post subject: September 2nd Wednesday 2009 - Futures, ETFs and Forex
 Post Posted: Wed Sep 02, 2009 2:59 pm 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada


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Session Start: Wed Sep 02 09:05:04 2009
Session Ident: #futurestrades
[09:05] * Now talking in #futurestrades
[09:05] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:07] <pat255> gm N
[09:29] <drt> gm all
[09:41] <@wrbtrader> Shorts ES @ 993.75 -> large size
[09:41] <@wrbtrader> 9 only
[09:42] <@wrbtrader> Covered all ES Short @ 994.25 --> - 0.5
[09:43] <@wrbtrader> Long ES @ 995.50 -> large size
[09:43] <@wrbtrader> 9 only
[09:43] <@wrbtrader> had a problem trying to reverse that short into a long position :(
[09:44] <@wrbtrader> Exited all ES Long @ 995.00 --> - 0.5
[09:44] <jbuch> Shorts ES @ 995
[09:45] <@wrbtrader> Long ES @ 995.25 -> large size
[09:45] <+jbuch> Covered all ES Short @ 994.75 --> + 0.25
[09:45] <@wrbtrader> 9 only
[09:45] <@wrbtrader> intuition via the early out of prior trade
[09:47] <+jbuch> Long ES @ 995.25
[09:47] <+drt> s es 95.75
[09:48] <Nesi> 2:00 PM FOMC minutes
[09:48] <+jbuch> jeez
[09:49] <+jbuch> Exited all ES Long @ 995.5 --> + 0.25
[09:49] <@wrbtrader> Exited all ES Long @ 995.50 --> + 0.25
[09:50] <+drt> cs es 95
[09:50] <@wrbtrader> Long ES @ 996.00 -> large size
[09:50] <@wrbtrader> 6 only
[09:50] <JimL28> Long TF @ 567.2
[09:50] <+JimL28> 2
[09:50] <@wrbtrader> same as prior trade...retracements and price stalls causing early outs.
[09:51] <+JimL28> Exited 1/2 TF Long @ 558 --> - 9.2
[09:51] <+jbuch> :(
[09:52] <+JimL28> Exited all TF Long @ 558.7 --> - 8.5
[09:52] <+JimL28> 568's
[09:53] <+JimL28> oh,i see the entries were wrong
[09:54] <+JimL28> Long TF @ 558.2
[09:54] <+JimL28> 2
[09:55] <+JimL28> Exited all TF Long @ 558.6 --> + 0.4
[09:55] <@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.
[09:56] <@wrbtrader> I'm looking for another retest of that infamous 1000.00 level in Emini ES
[09:57] <@wrbtrader> Exited all ES Long @ 997.25 --> + 1.25
[09:58] <@wrbtrader> :(
[09:58] <+JimL28> Shorts TF @ 558
[09:58] <+JimL28> 2
[09:59] <@wrbtrader> Financial networks currently on commerical break during a key economic report release :)
[09:59] <@wrbtrader> gotta pay the bills I guess :)
[09:59] <Forex2stay> they must figure most people are watching for the release
[09:59] <+JimL28> Covered all TF Short @ 557 --> + 1
[10:00] <@wrbtrader> Yep...exactly
[10:01] <@wrbtrader> Shorts ES @ 994.00 -> large size
[10:01] <@wrbtrader> 9 only
[10:01] <@wrbtrader> geeesh
[10:01] <@wrbtrader> I'm about 10 steps behind the market this morning.
[10:01] <@wrbtrader> 3 late entries so far this morning :(
[10:02] <@wrbtrader> Covered all ES Short @ 994.75 --> - 0.75
[10:02] <@wrbtrader> the late entries are causing the early outs because I don't have the "wiggle room" to stay in the trade.
[10:03] <@wrbtrader> Shorts ES @ 995.25 -> large size
[10:04] <@wrbtrader> 9 only
[10:04] <+JimL28> Shorts TF @ 555.9
[10:04] <+JimL28> 2
[10:04] <+JimL28> Covered 1/2 TF Short @ 555.5 --> + 0.4
[10:05] <@wrbtrader> got a good entry and may get lucky if volatility shows up to help spike it down
[10:05] <+JimL28> Covered Remainder TF Short @ 555.1 --> + 0.8
[10:06] <@wrbtrader> Covered all ES Short @ 995.00 --> + 0.25
[10:06] <@wrbtrader> Just saw that "fast trades" institutional computer crap
[10:06] <@wrbtrader> spooked me out
[10:06] <@wrbtrader> Shorts ES @ 994.75 -> large size
[10:07] <@wrbtrader> 6 only
[10:08] <@wrbtrader> Covered all ES Short @ 996.00 --> - 1.25
[10:08] <@wrbtrader> Shorts ES @ 996.00 -> large size
[10:08] <@wrbtrader> 6 only
[10:08] <@wrbtrader> price action bouncing up and down between a key resistance area and a key support area.
[10:09] <+JimL28> Shorts TF @ 55.7
[10:09] <+pat255> yes ..geez very quick fingers
[10:09] <+JimL28> Covered all TF Short @ 55.7 --> 0
[10:11] <@wrbtrader> Covered all ES Short @ 996.50 --> - 0.5
[10:12] <@wrbtrader> "Fast Trades" sputtering again
[10:14] <luffy> gm
[10:15] <@wrbtrader> Shorts ES @ 995.75 -> large size
[10:15] <@wrbtrader> 9 only
[10:15] <@wrbtrader> 2nd decent entry of the day...other one resulted in only a +0.25 profit
[10:19] <@wrbtrader> Covered all ES Short @ 995.50 --> + 0.25
[10:19] <@wrbtrader> :(
[10:21] <+jbuch> Long ES @ 995.75
[10:23] <+jbuch> Exited Remainder ES Long @ 995.25 --> - 0.5
[10:23] <@wrbtrader> Got a wedge trying to form
[10:26] <+pat255> y ..rangy
[10:27] <@wrbtrader> volatility has died too
[10:27] <@wrbtrader> That makes it dangerous trading until it spikes and gets out of the rut
[10:28] <+JimL28> Shorts TF @ 556
[10:28] <+JimL28> 2
[10:29] <+JimL28> Covered all TF Short @ 555.4 --> + 0.6
[10:30] <@wrbtrader> Shorts ES @ 994.25 -> large size
[10:30] <@wrbtrader> 6 only
[10:30] <+JimL28> Shorts TF @ 555.4
[10:30] <+JimL28> 2
[10:31] <@wrbtrader> This is just a slow breakdown (didn't see it before) of an earlier bearish signal...trying to survive the chop is a pain in the butt.
[10:31] <+JimL28> Covered all TF Short @ 555.2 --> + 0.2
[10:31] <+JimL28> Shorts TF @ 555.4
[10:31] <+JimL28> 2
[10:32] <+JimL28> Covered 1/2 TF Short @ 554.6 --> + 0.8
[10:33] <+JimL28> Covered all TF Short @ 553.6 --> + 1.8
[10:33] <pdays> Shorts ES @ 994.5 «« simulator »»
[10:33] <@wrbtrader> Covered all ES Short @ 991.75 --> + 2.5
[10:33] <+pdays> Covered 2/3 ES Short @ 993.25 --> + 1.25 «« simulator »»
[10:33] <+pdays> Covered Remainder ES Short @ 992.25 --> + 2.25 «« simulator »»
[10:34] <@wrbtrader> 50% today but profitable
[10:35] <@wrbtrader> would have been a lot easier not for the earlier trades being poor entries and early outs.
[10:35] <@wrbtrader> support zone trying to develop
[10:36] <@wrbtrader> reason why I covered that Short
[10:37] <@wrbtrader> very little price reaction in the Oil markets upon the release of the EIA Petroleum Status report
[10:38] <@wrbtrader> Reminder - I'm expecting a volatile market Thursday and Friday.
[10:38] <@wrbtrader> Hopefully it results in a trend day or big price swings
[10:41] <+pat255> thks N
[10:44] <+JimL28> Long TF @ 555.7
[10:44] <+JimL28> 2
[10:44] <+JimL28> Exited 1/2 TF Long @ 557.1 --> + 1.4
[10:45] <+JimL28> Exited Remainder TF Long @ 557.3 --> + 1.6
[10:45] <+pat255> vn jim
[10:45] <JimL14> sorry late on the phone but i thought i could hold it longert
[10:47] <+JimL28> Long TF @ 557.2
[10:47] <+JimL28> 2
[10:48] <+JimL28> Exited 1/2 TF Long @ 557.9 --> + 0.7
[10:55] <+JimL28> Exited Remainder TF Long @ 557.9 --> + 0.7
[11:07] <+JimL28> Shorts TF @ 558
[11:07] <+JimL28> 2
[11:07] <+JimL28> Covered 1/2 TF Short @ 557.3 --> + 0.7
[11:12] <+JimL28> Covered TF Short @ 557.4 --> + 0.6
[11:12] <+JimL28> Reverse and Enter Long TF @ 557.4
[11:13] <+JimL28> Exited all TF Long @ 557.6 --> + 0.2
[11:34] * codehead_afk is now known as codehead
[11:35] <TraderG> Jim, leave some $$$ for the rest of us
[11:37] <+TraderG> bbl
[11:58] <@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.
[12:17] <@wrbtrader> Long ES @ 996.50 -> small size
[12:17] <@wrbtrader> 2 only
[12:18] <@wrbtrader> Keeping my size small because the volatility is too low
[12:18] <+pat255> y ..almost dead ..
[12:42] <+jbuch> gold and silver are rallying.
[12:46] <+luffy> p90x killing me today
[12:49] <+jbuch> nice
[12:49] <+Forex2stay> ohh yeah got to love p90x...freakin its a beast!
[12:49] <+Forex2stay> wall lunges kill me
[12:49] <+jbuch> when did u start :)
[12:49] <+Forex2stay> been through the program once...
[12:49] <+jbuch> oh yeah thatleg workout is brutal
[12:50] <+Forex2stay> got it in april 09
[12:50] <+jbuch> I was 3/4 of the way through it but wiped out on my mountain bike a few weeks ago and had to stop
[12:51] <+Forex2stay> ouch
[12:51] <+jbuch> will have to start at the beginig again
[12:51] <+Forex2stay> ol Tony makes it fun
[12:52] <+Nesi> does it work?
[12:52] <+jbuch> it is awesome
[12:52] <+Forex2stay> yeah it works...but it's some serious pain at first
[12:53] <+jbuch> but u really want to have a good level of fitness before u start
[12:53] <+Forex2stay> yes sir
[12:53] <+Forex2stay> the AB routine is just nuts
[12:53] <@wrbtrader> Exited all ES Long @ 998.25 --> + 1.75
[12:54] <+TraderG> i have a good level of my pointing fingure (mouse excersize) :)
[12:54] <+TraderG> level of fitness i mean
[12:55] <+jbuch> the ab workout will make u cry.
[12:55] <+Forex2stay> lol
[12:55] <+Forex2stay> i think i did the first time
[12:56] <+jbuch> :)
[12:57] <+TraderG> fomc @ 2PM
[12:57] <+TraderG> 4 those who just came back 2 earth
[13:01] <+jbuch> Long ES @ 998.25
[13:03] <+jbuch> Exited all ES Long @ 997.75 --> - 0.5
[13:25] <@wrbtrader> Another killer low volatility trading range...killer in reference that these things have been lasting for more than 3 hours of price action.
[13:26] <+jbuch> makes me want to go build a house
[13:26] <@wrbtrader> Thus, I don't expect things to improve until around 3pm est if that :(
[13:27] <@wrbtrader> If someone ever ask me about the career as a trader...
[13:27] <@wrbtrader> I will tell them to get a part-time job from 11am to 3pm est and trade before 11am or after 3pm est.
[13:27] <@wrbtrader> :)
[13:28] <winmax60> any stat you prove that.wrbtrader ? :-))
[13:28] <+jbuch> That is exactly what I a thinking about doing.
[13:29] <+jbuch> a=am
[13:30] <@wrbtrader> Just one...I know a metro bus driver that has part-time hours between 11am - 3pm est and he trades only between 0830am - 1030am est and then sometimes from 3:30pm - 4:15pm est
[13:30] <+Forex2stay> do you know if his performance is better since he doesn't get stuck in the chop?
[13:31] <+Forex2stay> not to mention his overall sanity
[13:31] <@wrbtrader> Yes...it's better.
[13:31] <@wrbtrader> He's eliminated the area that causes most of his losses because he didn't have the discipline on his own to avoid it until he got the job as a metro driver.
[13:32] <+Forex2stay> makes since
[13:32] <+winmax60> yeap...makes sense... indeed
[13:33] <+winmax60> chop... .... something we see everyday... but still no cure .... :-((
[13:33] <@wrbtrader> Regardless...these low volatility tight trading ranges that seem to last forever in a trading day is something that may only have to do only with 2009.
[13:33] <@wrbtrader> I hope so...would hate to see 2010 like this...traders will go insane.
[13:34] <@wrbtrader> My spouse notice it too...the other day she hinted I could do the laundry during the mid-day now that I have more time on my hands.
[13:34] <@wrbtrader> :(
[13:36] <+winmax60> yeap...maybe that will save all of us from all kinds of disaster... ;-))
[13:38] <+Forex2stay> maybe there are other instruments that perform better during this period...might be worth some research
[13:38] <@wrbtrader> Yeah...that's the best option if someone wants to be more active in trading in the mid-day in markets that's not low volatility.
[13:38] <+winmax60> excellent point...forex2stay..!!
[13:40] <+Forex2stay> for example if i trade EURUSD during the open and close of both Europe and US session i can catch most of the moves.
[13:40] <+Forex2stay> I may be on the wrong side :( but the move is there for the taken
[13:41] <+Forex2stay> so during the other time i keep my charts open and my trading platform and work my other job from my laptop..still keeping an eye on the market
[13:41] <+Forex2stay> this allows me not have to catch up when i need to actively trade again
[13:41] <+jbuch> Long ES @ 997.25
[13:42] <+winmax60> I also hear many are trading gold & oil...not just watching them move....
[13:43] <@wrbtrader> Yeah...trading more than one type of trading instrument can be very useful especially when one of them is range bound like today.
[13:44] <jigglyhippo> wrbtrader do you expect things to pick up on tuesday (after labor day)?
[13:44] <+jbuch> gold and silver have moved really well today
[13:47] <+Forex2stay> jb did you get to try out newstrike?
[13:48] <+jbuch> no I got the password but it would not accept it emailed them but no response
[13:48] <+Forex2stay> hmm
[13:53] <+jbuch> Exited all ES Long @ 997.5 --> + 0.25
[13:58] <+jbuch> it will go from this junk to overdrive and we will be so brain dead from staring at this crap we won't know what to do.
[13:58] <@wrbtrader> :)
[13:59] <codehead> FOMC mins
[14:01] <+jbuch> Long ES @ 997
[14:01] <+jbuch> chased it up from 996.5
[14:02] <+jbuch> Exited all ES Long @ 996.5 --> - 0.5
[14:02] <+Nesi> Fed Officials More Confident Growth To Resume 2H '09-Minutes - DJ
[14:02] <+Nesi> FED-HOUSING SECTOR SHOWING SIGNS OF STABILIZATION, INVENTORIES WEIGH ON BUILDING - Reuters
[14:03] <+jbuch> Long ES @ 996.5
[14:04] <@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.
[14:06] <+jbuch> Exited all ES Long @ 996.25 --> - 0.25
[14:07] <+Nesi> 990 988 next area ..imho
[14:07] <+jbuch> :(( move my stop up .25
[14:09] <+jbuch> Long ES @ 996.5
[14:11] <tomosyn57> Long SSO @ 30.69
[14:12] <+tomosyn57> Exited 1/4 SSO Long @ 30.71 --> + 0.02
[14:13] <+tomosyn57> Exited 1/4 SSO Long @ 30.73 --> + 0.04
[14:13] <+jbuch> Exited all ES Long @ 997.25 --> + 0.75
[14:18] <+tomosyn57> Exited Remainder SSO Long @ 30.68 --> - 0.01
[14:22] <+jbuch> must be a lot of contradictions in the minutes
[14:26] <JimL14> gold bugs must loving today, gold waking up in a way +2.3%
[14:27] <+codehead> oil popping up into close
[14:28] <+jbuch> Long ES @ 997
[14:29] <+jbuch> I am long gold
[14:29] <+jbuch> been waiting forever for it to do something
[14:31] <+JimL14> took a longer lunch/work break waitinf for 2pm release - no action yet, locked, loaded, ready for...
[14:34] <+jbuch> will try and hang on for 1000
[14:36] <+jbuch> tick hitting 1000 hate to see that
[14:38] <+JimL14> nice trade, very stealthy move, if this would break up & out it could be a nice a,b,c for many $$$, but eminis don't go that clean very often
[14:39] <+jbuch> Exited all ES Long @ 998.25 --> + 1.25
[14:40] <+jbuch> big vol spike there
[14:41] <+jbuch> and crazy zippy pa movement.
[14:45] <JimL28> Shorts TF @ 557.2
[14:45] <+JimL28> 2
[14:45] <+JimL28> Covered 1/2 TF Short @ 556.2 --> + 1
[14:50] <+JimL28> Covered Remainder TF Short @ 556.7 --> + 0.5
[14:53] <+jbuch> what a waste of a day.
[14:56] <+codehead> NQ nice wedge
[14:56] <+codehead> not sure if anything will really go anywhere, but maybe NQ has the best shot
[14:56] <+jigglyhippo> you got a nice trade there jb
[14:58] <+jbuch> uess I shoulda grabed the 2 points that is pretty much a runner today
[14:58] <@wrbtrader> Reading "Be afraid. Be sort of, sort of afraid" @ http://money.cnn.com/2009/09/02/markets ... /index.htm
[15:00] <@wrbtrader> Shorts ES @ 996.50 -> small size
[15:00] <@wrbtrader> 2 only
[15:00] <@wrbtrader> still keeping it on the small size for this low volatility tight trading range.
[15:01] <@wrbtrader> :(
[15:02] <@wrbtrader> Covered all ES Short @ 996.50 --> 0
[15:03] <@wrbtrader> got some distractions here at home...be back later
[15:03] * wrbtrader is now known as wrbtrader_away
[15:08] <+jbuch> Long ES @ 996.5
[15:10] <+jbuch> should have been more patient
[15:11] <+jbuch> had my order at 96.25
[15:17] <+jbuch> come on break 98
[15:19] <+jbuch> good vol on that breakout
[15:19] <+jbuch> 1 tick away
[15:22] <+jbuch> Exited all ES Long @ 998.75 --> + 2.25
[15:33] <OICU812> nice trade jb
[15:36] <+jbuch> thanks man
[15:37] <+jbuch> was loking to get back in on a retracement but me no trust.
[15:38] <+OICU812> hard to trust it
[15:38] <+OICU812> although very defined range
[15:38] <+jbuch> definetly buy and sell the extremes is working
[15:39] <+jbuch> been here a long long time though
[15:39] <+jbuch> it will break eventually
[15:39] <+OICU812> i have a long for forever
[15:39] <+OICU812> and not moving
[15:39] <+JimL28> Long TF @ 557.3
[15:39] <+JimL28> 2
[15:40] <+jbuch> tough day for swinging
[15:41] <+OICU812> yeah
[15:41] <+OICU812> good thing is days like yesterday :)
[15:41] <+jbuch> catch a move like yesterday thoughand it makes it worth it
[15:41] <+jbuch> lol
[15:41] <+OICU812> yesterday i got in it from 1021.5. that was my trigger
[15:42] <+JimL28> Exited TF Long @ 557.5 --> + 0.2
[15:42] <+JimL28> Reverse and Enter Short TF @ 557.5
[15:42] <+OICU812> to be honest, in the begginging i was kind of annoyed that it did not move, then it took off
[15:43] <+jbuch> u probably closed it atthe lows
[15:43] <+jbuch> no reason to get out once it started
[15:43] <+OICU812> i scaled at the 1000 area
[15:43] <+OICU812> was afraid it would bounce off of it
[15:43] <+jbuch> it was like a rocket on the way down
[15:43] <+OICU812> then 97.5
[15:44] <+jbuch> yeah it paused there for a while
[15:44] <+OICU812> in retrospective, i should have just rode it LOL
[15:44] <+OICU812> but
[15:44] <+OICU812> not as easy
[15:44] <+jbuch> only in hindsite :)
[15:44] <+OICU812> still was a nice trade
[15:45] <+OICU812> oh, i did add up on the 12 area
[15:45] <+OICU812> it as a resistance the day before
[15:45] <+JimL28> Covered all TF Short @ 556.6 --> + 0.9
[15:45] <+OICU812> it was support the day before
[15:46] <+jbuch> to bad there wern't more of those days
[15:46] <+jigglyhippo> yup yesterday was great :)
[15:51] <+tomosyn57> Long SSO @ 30.63
[15:51] <+JimL28> Long TF @ 556.2
[15:52] <+jbuch> man they r trying to push it up.
[15:54] <+tomosyn57> Exited 1/2 SSO Long @ 30.64 --> + 0.01
[15:54] * wrbtrader_away is now known as wrbtrader
[15:55] <+tomosyn57> Exited Remainder SSO Long @ 30.59 --> - 0.04
[15:55] <@wrbtrader> Emini ES near support
[15:56] <+JimL28> Exited all TF Long @ 555.4 --> - 0.8
[15:57] <+JimL14> i thought for sure they'd bounce it out or I see a break coming & reverse to short - just blah @ bottom
[15:58] <+OICU812> i got a short signal
[15:58] <+jigglyhippo> have a good night guys
[16:00] <+jbuch> steenbarger is putting on a webinar tonight
[16:00] <+JimL28> Long TF @ 554.8
[16:01] <+jbuch> have a good night all.
[16:02] <+JimL28> Exited all TF Long @ 555 --> + 0.2
[16:02] <+JimL28> Long TF @ 555.9
[16:04] <+JimL28> Exited all TF Long @ 555.8 --> - 0.1
[16:04] <+OICU812> who is this steenbarger?
[16:06] <+JimL14> brett s., trader, author, blogger, good solid/practical trading tools advice http://traderfeed.blogspot.com/
[16:07] <+JimL14> posting & twittering right along with the daily market
[16:07] <@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.
[16:08] <+JimL14> alot of overnight & weekend analysis of global markets
[16:09] <+JimL14> not a trade caller but will often post recently completed trades with charts, notes & reasoning for the trade
[16:11] <+jbuch> pfizer charged 2.3 billion
[16:11] <+JimL28> Long TF @ 554.5
[16:11] <+JimL28> 2
[16:11] <+JimL14> my last hurrah
[16:13] <+JimL28> Exited 1/2 TF Long @ 665 --> + 110.5
[16:13] <+JimL28> 555
[16:13] <+JimL28> +.5
[16:15] <+JimL28> Exited Remainder TF Long @ 554.9 --> + 0.4
[18:10] <@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.

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