##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 or commentaries involving futures, exchange traded funds or forex currencies. 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 Oct 01 09:22:30 2009
Session Ident: #futurestrades
[09:22] * Now talking in #futurestrades
[09:22] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:25] <werner> all
[09:29] <Forex2stay> morning
[09:29] <+Nesi> good trading all
[09:29] <drt>
[09:36] <+Nesi> Covered all ES Short @ 1043.00 --> + 30.75 «« simulator »»
[09:36] <+Nesi> held from yesterday
[09:36] <pat255> vn
[09:36] <+Nesi> thx
[09:38] <TraderG> 10:00am USD ISM Manufacturing PMI
[09:39] <+TraderG> 10:30am USD Natural Gas Storage
[09:39] <+TraderG> other news @ 10
[09:43] <zim01> m'ing
[09:43] <@wrbtrader> Good morning all...we have a lot of schedule market news today.
[09:43] <+Nesi> hola wrbtrader
[09:43] <+pat255> N
[09:43] <@wrbtrader> Hopefully the markets will not get confused and then do a low volatility range because of such.
[09:44] <pdays> Shorts ES @ 1044
[09:44] <+pdays> Shorts ES @ 1045 -> Add
[09:44] <+pdays> Covered 1/2 ES Short @ 1044.25 --> + 0.75
[09:45] <+pdays> Covered Remainder ES Short @ 1044 --> 0
[09:45] <+drt> s es 44.75
[09:45] <OICU812>
[09:51] <jbuch> Shorts ES @ 1045
[09:51] <+drt> cl es 44.75
[09:51] <+drt> corr cs es 44.75
[09:52] <@wrbtrader> Shorts ES @ 1044.00 -> large size
[09:52] <@wrbtrader> 9 only
[09:53] <+pat255> t-8
[09:53] <@wrbtrader> Covered all ES Short @ 1043.75 --> + 0.25
[09:53] <+jbuch> Covered all ES Short @ 1043.75 --> + 1.25
[09:53] <@wrbtrader> bailed out because of the poor entry
[09:55] <+pat255> 10am ism
[09:56] <+jbuch> oil and the dollar gapped up veeerrrrryyyyy iiiiiinnnteresting
[10:00] <+Nesi> Shorts ES @ 1042.25 «« simulator »»
[10:00] <@wrbtrader> geeesh
[10:01] <+jbuch> charts frozen
[10:02] <+Nesi> Covered all ES Short @ 1042.00 --> + 0.25 «« simulator »»
[10:02] <+jbuch> pending home sales real real good
[10:03] <+jbuch> Long ES @ 1043.5
[10:03] <@wrbtrader> Long ES @ 1042.75 -> large size
[10:03] <@wrbtrader> 6 only
[10:04] <+jbuch> Exited all ES Long @ 1042.5 --> - 1
[10:04] <@wrbtrader> Exited all ES Long @ 1042.25 --> - 0.5
[10:05] <+pat255> man u guys atre quick on stops
[10:05] <+pat255> vn
[10:05] <@wrbtrader> Shorts ES @ 1040.00 -> large size
[10:05] <@wrbtrader> 6 only
[10:05] <@wrbtrader> pat255..it's called FEAR
[10:06] <+pat255> lol but well done
[10:06] <+werner> lol
[10:06] <+jbuch> can't mess around with it hoping and praying rarely works
[10:06] <@wrbtrader> true
[10:06] <+pat255> y
[10:07] <+jbuch> got vamboozeled by that housing number
[10:07] <+werner> nq key here
[10:07] <@wrbtrader> price action was moving fast...if I pray too long I would get a bigger loss on that Long position
[10:07] <@wrbtrader> It's still moving fast and the volatility is now setting up for another big spike.
[10:08] <@wrbtrader> hopefully further down and not back up
[10:09] <@wrbtrader> Covered all ES Short @ 1039.00 --> + 1
[10:11] <+OICU812> forgot to post my trades
[10:11] <+OICU812> :S
[10:11] <+jbuch> Long ES @ 1038.25
[10:11] <+OICU812> i forget when im entertained
[10:11] <@wrbtrader> weak support area developing...could encourage the Longs to show up.
[10:15] <+jbuch> Exited all ES Long @ 1038.5 --> + 0.25
[10:17] <+zim01> not till the "media" can figure how to put a positive "spin"
[10:17] <+zim01> advdec -1700
[10:18] <+jbuch> the data looks good to me ISM is a lil off but housing and const spending r real pos
[10:19] <+jbuch> Long ES @ 1038.25
[10:22] <+Nesi> Shorts ES @ 1038.00 «« simulator »»
[10:22] <+jbuch> Exited all ES Long @ 1038.5 --> + 0.25
[10:23] <+jbuch> Long ES @ 1038.5
[10:24] <@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.
[10:24] <+jbuch> I would think that pending home sales is the best barometer of the state of the economy
[10:24] <+jbuch> it is probably a lot of foreclosed homes though
[10:26] <+zim01> most foreclosed homes NOT on the market...so you get "these" numbers
[10:27] <+jbuch> Exited all ES Long @ 1039 --> + 0.5
[10:28] <+jbuch> counter trend guess I shoulda scalped for a point
[10:29] <+jbuch> I agree with u that most r not on the market but there r a lot of foreclosed houses being sold
[10:30] <+jbuch> and those numbers r shown in the pending home sales
[10:30] <+zim01> agreed..
[10:33] <+zim01> thinking 1040.50...."holding" to be long
[10:35] <@wrbtrader> Long ES @ 1038.50 -> medium size
[10:35] <@wrbtrader> 4 only
[10:36] <+jbuch> burnt out and indesisive on the long side so will probably pop
[10:37] <@wrbtrader> Exited all ES Long @ 1040.25 --> + 1.75
[10:37] <+pat255> vn
[10:37] <+jbuch> nice N
[10:38] <+jbuch> Long ES @ 1040.25
[10:40] <+jbuch> Exited all ES Long @ 1039.5 --> - 0.75
[10:47] <@wrbtrader> volatility increasing fast
[10:50] <+jbuch> Shorts ES @ 1038.5
[10:50] <+Nesi> Shorts ES @ 1037.50 -> Add «« simulator »»
[10:51] <+zim01> from 10:07 risky trading
[10:52] <+OICU812> i like you guys on my side
[10:53] <+jbuch> Covered all ES Short @ 1039.5 --> - 1
[10:55] <+jbuch> have u guys seen the baby dancing to Beyonce vid on u tube.
[10:55] <+jbuch> Wife opened it up last night and our baby went crazy started dancing and laughing
[10:56] <+jbuch> so we ended up playing it about 100 times
[10:56] <+jbuch> now I can't get the song out of my head.
[10:56] <+OICU812> yeah ive seen it
[10:56] <+OICU812> cute kid
[10:57] <+jbuch> If u like it then u shoulda put a ring on it
[10:57] <+jbuch> over and over and over
[11:01] <+jbuch> Shorts ES @ 1037.25
[11:04] <+jbuch> Covered all ES Short @ 1036.25 --> + 1
[11:04] <+Nesi> trend is down
[11:05] <+jbuch> the trend is ur friend until it ends
[11:05] <+Nesi>
[11:05] <+Nesi> just asking for 1035 drill
[11:07] <+jbuch> Shorts ES @ 1035.75
[11:08] <@wrbtrader> Shorts ES @ 1034.75 -> large size
[11:08] <@wrbtrader> support failed...intuition trade
[11:08] <+pat255> oh my ...
[11:10] <+Nesi> Covered all ES Short @ 1033.50 --> + 8.5 «« simulator »»
[11:10] <@wrbtrader> Covered all ES Short @ 1033.75 --> + 1
[11:11] <+pat255> vn
[11:12] <@wrbtrader> Took a small break to make lunch and missed a Short signal around 1057am est...timing sucked for that break
[11:16] <+jbuch> Covered all ES Short @ 1034 --> + 1.75
[11:16] <+Nesi> vn
[11:17] <+jbuch> thanks
[11:19] <+jbuch> Long ES @ 1034.75
[11:21] <+jbuch> Exited all ES Long @ 1034.5 --> - 0.25
[11:24] <+OICU812> very strong dtl today
[11:27] <+Nesi> Long ES @ 1032.50 «« simulator »»
[11:43] <+Nesi> Exited all ES Long @ 1033.50 --> + 1 «« simulator »»
[12:30] <@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.
[13:04] <codehead> 1025.75 is .500
[13:07] <+codehead> 1028-1031 has some support before then
[13:08] <+codehead> so possible to hold up the general area
[13:11] <+codehead> long 1030.50 <paper>
[13:11] <+Nesi> Long ES @ 1031.00 «« simulator »»
[13:11] <+codehead> 3 pt stop
[13:13] <+codehead> initial target 1032.50
[13:14] <+Nesi> Exited all ES Long @ 1031.25 --> + 0.25 «« simulator »»
[13:20] <+codehead> pretty strong down today
[13:21] <+codehead> 1028 or so is a buy area, so if we see no bounce, will really should how strong the dt is
[13:22] <+codehead> NQ hit 1669.0, one of my buy #'s
[13:22] <+codehead> (calculated sunday night)
[13:22] <+codehead> so see if we can bounce these
[13:25] <+werner> must go ...gn all
[13:33] <@wrbtrader> Shorts ES @ 1030.00 -> small size
[13:33] <@wrbtrader> 1 only
[13:33] <+OICU812> how do you define your size wrbtrader?
[13:34] <@wrbtrader> many reasons...
[13:34] <+Nesi> Long ES @ 1030.00 «« simulator »»
[13:35] <@wrbtrader> example...low volatility I tend to go smaller on the size while increasing my size on rising volatility of fast moving volatility
[13:35] <+OICU812> got it
[13:35] <+OICU812> i usually trade the same size always
[13:35] <@wrbtrader> another reason...small size when I feel "nervous"
[13:36] <@wrbtrader> another reason...small size when I'm happy with my profit level for the day but I want to continue trading
[13:37] <+OICU812> got it
[13:37] <+OICU812> thanks for teh explanation
[13:39] <@wrbtrader> looks like I caught some declining volatility range
[13:40] <@wrbtrader>
[13:40] <@wrbtrader> Covered ES Short @ 1031.00 --> - 1
[13:42] <+Nesi> Exited all ES Long @ 1031.50 --> + 1.5 «« simulator »»
[13:43] <+codehead> exit half at first target, +2.00 ES <paper>
[13:57] <+jbuch> Shorts ES @ 1032
[14:01] <+jbuch> Covered all ES Short @ 1031.75 --> + 0.25
[14:02] <+codehead> exit remainder ES +1.50 <paper>
[14:02] <+codehead> could bounce to 1037, or 1039.75
[14:02] <+codehead> whenever bounce done, could still go to 1025
[14:05] <@wrbtrader> Shorts ES @ 1031.00 -> small size
[14:05] <@wrbtrader> 3 only
[14:06] <+codehead> or we make dbl bottom for those targets on bounce
[14:07] <@wrbtrader> Covered all ES Short @ 1031.25 --> - 0.25
[14:07] <@wrbtrader> correction
[14:08] <+codehead> looks like it wants abc correction
[14:08] <@wrbtrader> Covered all ES Short @ 1032.25 --> - 1.25
[14:08] <@wrbtrader> volatility slowly rising
[14:09] <@wrbtrader> Long ES @ 1032.75 -> large size
[14:10] <@wrbtrader> 6 only
[14:10] <+Nesi> Long ES @ 1033.00 «« simulator »»
[14:11] <+codehead> oil popping greeen, nearing close
[14:14] <@wrbtrader> volatility declining...
[14:14] <+Nesi> Long ES @ 1034.00 -> Add «« simulator »»
[14:14] <@wrbtrader> Emini ES ($ES_F) needs to do something fast to help encourage other keep markets to support its price rise
[14:15] <@wrbtrader> that will attract more volatility
[14:17] <@wrbtrader> Exited all ES Long @ 1033.25 --> + 0.5
[14:27] <@wrbtrader> Long ES @ 1034.50 -> large size
[14:27] <@wrbtrader> 6 only
[14:29] <@wrbtrader> Exited all ES Long @ 1034.50 --> 0
[14:29] <@wrbtrader> too much fear in that trade when it didn't move at least to the 1035.00
[14:32] <+codehead> a pb here and a b/o of 1035 would be inv h&s
[14:33] <@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.
[14:35] <+codehead> NQ stopped at 1680.0, same as 2 hours ago
[14:35] <+codehead> similar possible h&s setup
[14:36] <+codehead> depends on time i guess
[14:36] <@wrbtrader> Long ES @ 1032.75 -> medium size
[14:36] <@wrbtrader> 4 only
[14:37] <+jbuch> oil in the upper range of its price
[14:37] <+jbuch> and so isn't the dollar
[14:38] <@wrbtrader> looking for a retest of 1034
[14:38] <+jbuch> financials making lower lows
[14:38] <+jbuch> wierd day
[14:39] <@wrbtrader> Exited all ES Long @ 1033.00 --> + 0.25
[14:39] <@wrbtrader>
[14:40] <+codehead> selling strong, meeting all the pop resistances
[14:40] <+Nesi> Exited all ES Long @ 1032.00 --> - 3 «« simulator »»
[14:40] <+codehead> getting late in the day soon
[14:40] <+jbuch> Shorts ES @ 1032
[14:42] <+jbuch> Covered all ES Short @ 1031.75 --> + 0.25
[14:43] <+Nesi> Long ES @ 1032.25 «« simulator »»
[14:44] <+jbuch> Long ES @ 1032.5
[14:46] <@wrbtrader> Long ES @ 1032.50 -> medium size
[14:46] <@wrbtrader> last try at this level
[14:47] <+jbuch> impulse entrance
[14:48] <+Nesi> Long ES @ 1032.75 -> Add «« simulator »»
[14:51] <+jbuch> Exited all ES Long @ 1032.75 --> + 0.25
[14:54] <+jbuch> Long ES @ 1033
[14:55] <+jbuch> Exited all ES Long @ 1033 --> 0
[14:55] <@wrbtrader> Exited all ES Long @ 1033.00 --> + 0.5
[14:55] <+jbuch> goota go good luck everyone
[14:56] <+Nesi> bye jb
[14:56] <+codehead> cya jb
[14:56] <+Nesi> good job
[14:56] <@wrbtrader> lost my patience on that trade
[14:56] <+jbuch> thanks man everbody get rich
[15:01] <@wrbtrader> Shorts ES @ 1031.75 -> small size
[15:02] <@wrbtrader> 2 only
[15:02] <@wrbtrader> chaser
[15:02] <+Nesi> Exited all ES Long @ 1031.75 --> - 1.5 «« simulator »»
[15:05] <+Nesi> Long ES @ 1031.50 «« simulator »»
[15:08] <@wrbtrader> Covered all ES Short @ 1031.25 --> + 0.5
[15:08] <+Nesi> Long ES @ 1031.00 -> Add «« simulator »»
[15:08] <@wrbtrader> taking a break...lost focus on that easy trade.
[15:08] * wrbtrader is now known as wrbtrader_away
[15:11] <+zim01> see ya in the morning
[15:42] <+codehead> NQ over 1680.0 goes to 1684.50
[15:46] <+codehead> margin selling pressure
[15:46] * wrbtrader_away is now known as wrbtrader
[15:51] <+Nesi> Exited all ES Long @ 1029.50 --> - 3.5 «« simulator »»
[16:06] <+Nesi> good nightall
[16:15] <@wrbtrader> Take care all and see all tomorrow.
[16:16] * wrbtrader is now known as wrbtrader_away

Market Summary: Dow Plunges 200 Points

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