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Posted by M.A. Perry
Trader and Founder of
WRB Analysis (wide range body analysis)
------------------------
Session Start: Thu Dec 03 09:18:45 2009
Session Ident: #futurestrades
[09:18] * Now talking in #futurestrades
[09:18] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:19] <Nesi> hi all
[09:19] <+Nesi> ISM Non-Mfg Index at 10ET
[09:23] <Reza> Hi Nesi
[09:23] <TraderG> Bernanke is talking @ 10
[09:29] <drt>
all
[09:31] <+Nesi> Long ES @ 1110.75
[09:32] <+Nesi> Exited all ES Long @ 1111.00 --> + 0.25
[09:32] <+Nesi> i got nervous
[09:32] <+Nesi> i felt it was a trade mistake
[09:35] <@wrbtrader> Long ES @ 1112.00 -> large size
[09:35] <jbuch> Long ES @ 1111.75
[09:35] <@wrbtrader> Long ES @ 1113.00 -> Add
[09:35] <@wrbtrader>
[09:35] <@wrbtrader> position size error on the first entry
[09:36] <@wrbtrader> 6 + 3 and I though I had only 4 on the first
[09:36] <@wrbtrader> Exited 1/3 ES Long @ 1113.25 --> + 0.25
[09:37] <@wrbtrader> Exited 1/3 ES Long @ 1114.00 --> + 2
[09:37] <pat255> vn start
[09:39] <+Nesi> Shorts ES @ 1113.75
[09:39] <+Nesi> 1
[09:39] <@wrbtrader> thanks but it was a late entry...should have been long @ 1111.25
[09:39] <+jbuch> Exited 1/2 ES Long @ 1113.75 --> + 2
[09:40] <@wrbtrader> will get greedy and try to capture more for another +0.75 to compensate of the lost 3 ticks on entry.
[09:40] <+Nesi> Covered all ES Short @ 1114.50 --> - 0.75
[09:41] <+Nesi> Shorts ES @ 1113.75
[09:44] <@wrbtrader> Exited ES Long @ 1114.75 --> + 2.75
[09:44] <@wrbtrader> Holding 1 contract remainder
[09:44] <+jbuch> Exited 1/4 ES Long @ 1114.75 --> + 3
[09:44] <+pat255> vn
[09:45] <+Nesi> Covered ES Short @ 1115.50 --> - 1.75
[09:45] <+Nesi> Reverse and Enter Long ES @ 1115.50
[09:45] <+jbuch> wow it broke it
[09:45] <@wrbtrader> Exited Remainder ES Long @ 1116.25 --> + 4.25
[09:45] <@wrbtrader> Yeah...nice volatility spike like a ball out of a cannon
[09:46] <+Nesi> Exited all ES Long @ 1116.00 --> + 0.5
[09:48] <+Nesi> Shorts ES @ 1116.25
[09:48] <+Nesi> 2
[09:48] <+jbuch> Exited all ES Long @ 1116.25 --> + 4.5
[09:49] <+Nesi> got carzy
[09:53] <+Nesi> Covered all ES Short @ 1113.75 --> + 2.5
[09:53] <+jbuch> beauty Nesi
[09:53] <+pat255> vn
[09:53] <+Nesi> thanks jb
[09:55] <mo2t> vn boys. Me 1 SL, 1 BE, did not have time to put it here online
[09:56] <+pat255> ism coming
[09:57] <+mo2t> does somebody stay in a position during reports here?
[09:58] <+jbuch> I will take a trade right before if it seems like there has been a leak
[10:01] <+jbuch> 48.7
[10:02] <+pat255> wow freaking drop
[10:02] <@wrbtrader> A lot of smooth rising volatility today so far
[10:03] <+jbuch> yeah beautifull swings
[10:03] <+Nesi> 10:02 =DJ S&P Launches Gold-Hedged Index To Protect Against Dollar Risk
[10:04] <+Nesi> 10:02 =DJ S&P Licenses UBS To Launch Pdts Based On Gold Hedged Index
[10:05] <+jbuch> we put in new 14 month highs 2 days in a row and then plummeted right after.
[10:06] <+jbuch> that confuses me
[10:09] <+Nesi> quote es please
[10:10] <+pat255> 1111
[10:10] <+Nesi> gracias
[10:10] <+jbuch> I have read a lot of market profile and according to that ideology it makes perfect sense but it makes no sense to me.
[10:11] <+jbuch> do u have it back Nes
[10:12] <+Nesi> no jb
[10:12] <+Nesi> just openecry
[10:13] <+Nesi> i had a hiccup..no biggie
[10:13] <+jbuch> 1109.5
[10:13] <+Nesi> yes
[10:13] <+Nesi> more likely it was my IP
[10:14] <+jbuch> snowing like crazy here don't see that to much in the desert
[10:14] <+Nesi> Shorts ES @ 1109.25
[10:14] <+Nesi> 2
[10:15] <+Nesi> i will risk 2 points or bit more on this trade
[10:15] <+Nesi> 1112 probaly my big hard stop
[10:15] <+Nesi> but at least i have to get 5 points out of this trade
[10:15] <+Nesi> but i will obey the tape
[10:16] <+Nesi> Covered all ES Short @ 1107.50 --> + 1.75
[10:16] <+Nesi> i am nervous this morning
[10:16] <+Nesi> i just got out
[10:16] <+Nesi> gold near day low
[10:16] <+Nesi> dollar holding pretty well
[10:17] <+jbuch> dude I thought babe ruthing it
[10:17] <+Nesi> jb, you upped your contracts
[10:17] <+Nesi> how does it feel to play a bit more
[10:17] <+Nesi> u get nervous?
[10:17] <+jbuch> yup avg about 4
[10:17] <+jbuch> yup
[10:17] <+Nesi> i think once you play 4 for a month, it will be much easier
[10:18] <+jbuch> not to bad though
[10:18] <+Nesi> if you trade well with 2, nothing should change...but you know..emotions
[10:18] <+jbuch> yeah have been for a few weeks getting easier
[10:18] <+Nesi> amazingg business.. same labor..but you get paid double now
[10:19] <+jbuch> makes it a lot easier to hit my profit target
[10:19] <+jbuch> it is fairly easy to get 2 points very hard to get 5 or 6 in a day
[10:20] <+Nesi> you mean with two?
[10:20] <+Nesi> or easier with 4 now
[10:20] <+pat255> jb u trade 3-4 now?
[10:20] <+jbuch> yes
[10:20] <+pat255> k
[10:21] <+jbuch> Nesi I mean per contract
[10:30] <+Nesi> Shorts ES @ 1108.75
[10:30] <+Nesi> 1
[10:37] <+Nesi> 12/03/2009 10:31 *DJ White House: Data Show Unemployment Rate Could Tick Up
[10:38] <+jbuch> nice trade Nesi
[10:38] <+Nesi> stop to breakeven now
[10:38] <+jbuch> your kicking ass today
[10:39] <+Nesi> doing better last few days...but but.. then it comes a day when i blow off everything
[10:39] <+Nesi> so i am working on that
[10:39] <+Nesi> Covered all ES Short @ 1107.75 --> + 1
[10:39] <+jbuch> self control is the name off the game
[10:40] <@wrbtrader> Shorts ES @ 1106.50 -> medium size
[10:40] <@wrbtrader> 4 only
[10:42] <@wrbtrader> Covered all ES Short @ 1106.00 --> + 0.5
[10:44] <@wrbtrader> Long ES @ 1106.25 -> small size
[10:44] <@wrbtrader> 2 only
[10:44] <@wrbtrader> intuition
[10:45] <+Nesi> Long ES @ 1106.25
[10:45] <+Nesi> 1
[10:47] <+Nesi> Exited all ES Long @ 1106.50 --> + 0.25
[10:47] <@wrbtrader> Exited all ES Long @ 1106.50 --> + 0.25
[10:48] <@wrbtrader> punks...now it pops
[10:48] <@wrbtrader>
[10:48] <@wrbtrader> Long ES @ 1108.75 -> small size
[10:49] <@wrbtrader> 3 only
[10:49] <@wrbtrader> Exited all ES Long @ 1109.75 --> + 1
[10:50] * codehead_afk is now known as codehead
[10:50] <@wrbtrader> Like yesterday, I've reached my profit goal of the day early...will now tak a long break from trading...be back later.
[10:50] * wrbtrader is now known as wrbtrader_away
[10:51] <+pat255> vn N
[10:58] <@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.
[13:01] <@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.
[13:29] <Rob> I must be missing something... Can't see anything..
[13:31] <+jbuch> Not much going on in here right now
[13:31] <+Rob> oh ok - thanks all I saw was a blank screen. That is cool.
[13:33] <+jbuch> bernanke getting drilled
[13:50] <+Rob> long 6e 1.5093
[13:52] * codeheadX is now known as codehead
[14:02] <+Rob> out even. Off to work.
[14:53] <matinthehat> hey
[14:56] <+matinthehat> everyone trading the ES?
[15:04] <@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.
[15:06] <+Nesi> hi
[15:07] <+matinthehat> hi
[15:07] <codehead> oh my... just noticed something...
[15:07] <+Nesi> oh oh
[15:07] <+codehead> wow...
[15:07] <+Nesi> what
[15:07] <+Nesi> lol
[15:07] <+Nesi> tell ussss
[15:07] <+codehead> i wrote a lunar study for esignal a while back
[15:08] <+codehead> kinda forgot abotu it
[15:08] <+codehead> just applied it to ES daily
[15:08] <+Nesi> ok nostradamus..tell us
[15:08] <+codehead> the past four major dips on ES...
[15:08] <+codehead> full moon
[15:08] <+Nesi> and
[15:08] <+matinthehat> omg
[15:09] <+Nesi> tell me to buy or sell
[15:09] <+codehead> this last one--friday's dip--was the farthest out
[15:09] <+codehead> 2 days off
[15:09] <+codehead> previous ones were on the day, or the next day
[15:09] <+Nesi> its bearish or bullish
[15:09] <+codehead> well, it's just cyclic
[15:10] <+codehead> i'll upload pic...
[15:10] <+Nesi> codehead is now known as Nostradamus
[15:10] * wrbtrader_away is now known as wrbtrader
[15:10] <+codehead> lol
[15:11] <+codehead> hm, where to upload...
[15:11] <+codehead> when i used a certian site, it's caused wrb grief...
[15:13] <+codehead> i'll use me.com...
[15:16] <+codehead> hm, for this you'll have to download it, 87 kb
[15:17] <+codehead>
http://files.me.com/codehead/9obts7[15:18] <+Nesi> gracias, codehead
[15:19] <+codehead> here, i put it on a webpage
[15:20] <+codehead>
http://gallery.me.com/codehead#100031[15:20] <+jbuch> code did u and traderG come to an understanding on ur pairs trade yesterday
[15:23] <+pat255> code this looks like mikee chart
[15:23] <+pat255> is he around/
[15:24] <+Nesi> Shorts ES @ 1107.50
[15:24] <+Nesi> 1
[15:24] <+codehead> he's in india
[15:24] <+pat255> oh k ..
[15:25] <@wrbtrader> Shorts ES @ 1107.00 -> small size
[15:25] <+Nesi> i think i might have a great entry
[15:25] <+Nesi> i ll risk one point on this one
[15:25] <@wrbtrader> being careful with this short...price action has a support a few ticks lower and could easily retraced back upwards to setup a buy signal
[15:26] <+Nesi> mi risk now is half point
[15:26] <@wrbtrader> 3 only and looking to exit
[15:26] <+Nesi> sorry..1/4 point risk
[15:27] <+jbuch> good trading today Nesi ur kicking ass
[15:27] <@wrbtrader> Covered all ES Short @ 1106.75 --> + 0.25
[15:27] <+Nesi> Covered all ES Short @ 1107.00 --> + 0.5
[15:27] <AndyES> Long ES @ 1106.75 -> small size
[15:28] <@wrbtrader> support broken
[15:28] <+Nesi> for one nanosecond..wrbtrader
[15:28] <+matinthehat> what bar intervals you guys looking at?
[15:29] <+Nesi> i use one, two, five and fifteen min..mat
[15:29] <+matinthehat> thanks
[15:29] <+AndyES> Long ES @ 1106.25 -> Add
[15:29] <@wrbtrader> I have 1, 2 5 and 15 at the moment
[15:29] <+matinthehat> only time based?
[15:29] <+Nesi> like me..wrbtrader
[15:29] <jigglyhippo> andy youre off sim?
[15:29] <+matinthehat> i am looking at the 1000 vol and it looks pretty clean
[15:29] <+Nesi> slowly i am becoming the little wrbtrader
[15:29] <+jigglyhippo> nesi you got thisss
[15:30] <+Nesi> last time i said i got this.. everything went to hell
[15:30] <+Nesi> i have a long road ahead of me
[15:30] <+jigglyhippo> lol
[15:30] <+Nesi> lol
[15:30] <+jigglyhippo> trying to get a long here
[15:30] <+jigglyhippo> not fillin
[15:31] <+Nesi> i am done most likely
[15:31] <+jigglyhippo> its run away =/
[15:31] <+Nesi> i want to keep my mindset in good health
[15:32] <@wrbtrader> Long ES @ 1106.50 -> small size
[15:32] <@wrbtrader> 3 only
[15:32] <+jigglyhippo> i have mine at 1106
[15:32] <+jigglyhippo> i might have to chase it
[15:33] <+jigglyhippo> ahh forget it ill wait for another trade
[15:33] <+jbuch> lol
[15:34] <+codehead> yes jb--i actually chatted with TraderG yesterday on skype
[15:35] <+Nesi> Shorts ES @ 1106.00
[15:35] <+Nesi> 1
[15:35] <+Nesi> i risk one point
[15:35] <@wrbtrader> tighten trail
[15:35] <tomosyn57> any conclusions ch
[15:36] <@wrbtrader> Exited all ES Long @ 1106.25 --> - 0.25
[15:36] <+Nesi> 1106 DA MAGNET again
[15:36] <@wrbtrader> Other key markets didn't show up to help on that Long position in Emini ES
[15:38] <@wrbtrader> Shorts ES @ 1105.75 -> medium size
[15:38] <werner> hi all
[15:38] <@wrbtrader> 4 only
[15:38] <@wrbtrader> increasing volatility
[15:38] <+AndyES> Exited all ES Long @ 1105.25 --> - 2.5
[15:38] <+jbuch> Shorts ES @ 1105.75
[15:39] <+jbuch> 1 only
[15:40] <@wrbtrader> Covered all ES Short @ 1104.75 --> + 1
[15:40] <+Nesi> Covered all ES Short @ 1105.00 --> + 1
[15:40] <+jbuch> Covered all ES Short @ 1104.75 --> + 1
[15:40] <+Nesi>
[15:40] <+jigglyhippo> nice guys
[15:40] <+jigglyhippo> that was sweet
[15:40] <+Nesi> i am becoming like jb and wrbtrader!!!!!!!!!!!!!111
[15:40] <+jigglyhippo>
[15:41] <+Nesi> now i am done, i will see u tomorrow guys
[15:41] <+jbuch> lol
[15:41] <+jigglyhippo> later nesi
[15:41] <+jbuch> greattrading Nesi
[15:41] <@wrbtrader> Emini ES currently at another support area and trying hard to push below it
[15:43] <@wrbtrader> Next support area 1102.75 - 1096.25
[15:44] <+jbuch> i think all 3 of us were in that run up this am to.
[15:44] <@wrbtrader> That's big area of key change in supply demand.
[15:44] <+jbuch> damn should have had some patience with it
[15:44] <@wrbtrader> Could cause some headache in tomorrow's trading session if it stays within it too long on any gap down.
[15:44] <+jigglyhippo> i cant believe i missed this move down
[15:44] <+jigglyhippo> i saw it happening
[15:44] <+jigglyhippo> dang
[15:45] <+Nesi> job numbers tomorrow
[15:45] <+Nesi> big numbers
[15:45] <+jbuch> yeah
[15:46] <@wrbtrader> Shorts ES @ 1102.00 -> small size
[15:46] <@wrbtrader> 3 only
[15:46] <@wrbtrader> intuition
[15:46] <+jbuch> every other word in berne hearing today wasjobs
[15:47] <@wrbtrader> volatility now declining for the first time in 15mins
[15:47] <@wrbtrader> Covered all ES Short @ 1102.00 --> 0
[15:48] <+Nesi> dollar bit of love here
[15:48] <+Nesi> and oil lower a bit
[15:49] <@wrbtrader> Shorts ES @ 1101.00 -> medium size
[15:49] <@wrbtrader> 4 only
[15:49] <@wrbtrader> Dollar helping but still difficult to hold on to these shorts
[15:50] <+Nesi> exit getting crowed
[15:51] <@wrbtrader> Gold and Oil still declining
[15:51] <+Nesi> dollar helping you wrbtrader
[15:51] <@wrbtrader> Looks like key markets still in sync together on the way down
[15:53] <+jigglyhippo> great trade wrbtrader
[15:54] <@wrbtrader> Covered all ES Short @ 1099.50 --> + 1.5
[15:55] <@wrbtrader> Oil and Gold just found trying hard to get back to their prior support
[15:57] <@wrbtrader> tight trading range from 1045am - 1525pm est until volatility returned
[15:59] <@wrbtrader> I'll post a chart in a minute to show one of the key support areas I was following when I saw Emini ES break below it.
[16:00] <+jigglyhippo> Shorts ES @ 1099 ---- sim
[16:01] <+jigglyhippo> Covered all ES Short @ 1098.75 --> + .25 ----- sim
[16:01] <+jigglyhippo> gnight all
[16:08] <@wrbtrader> Here's a chart of the Emini ES breakdown I saw...posted @
http://chart.ly/a8wnyx [16:09] <@wrbtrader> Also, you can see that low volatility trading range between 1045am - 1525pm est was the result of the price action being stuck in the middle price area between those two WRB S/R Zones.
[16:10] <@wrbtrader> I spent most of that trading range not trading...watching TV instead
[16:18] <+werner> tx for the chart wrbtrader... gn all
[16:23] <+matinthehat> so everyone here is a scalper?
[16:30] <@wrbtrader> No...no scalpers in here
[16:31] <+matinthehat> you guys are only aiming for a point or two right?
[16:31] <@wrbtrader> No...I would like to catch 20 point trades but the odds of that are low...seriously
[16:31] <@wrbtrader> Simply, I dump a trade fast if the price action doesn't do what I want it to do soon after entry
[16:32] <@wrbtrader> If it does...I'll try to ride it for many points.
[16:33] <+matinthehat> what is the size of your avg. winner?
[16:37] <@wrbtrader> Must be around a point or so
[16:38] <+matinthehat> how long have you been trading?
[16:39] <@wrbtrader> Learning the markets for +20 years and trading +15 years
[16:43] <@wrbtrader> matin...don't confuse a fast stop out (stop or trail being hit) with scalping.
[16:44] <@wrbtrader> You'll know when someone is scalping via watching how they trade on a TREND DAY that doesn't have many low volatility trading range.
[16:44] <@wrbtrader> They'll take between 20 - 100 trades with the GOAL of a few ticks on those trades.
[16:45] <@wrbtrader> Also, if they don't have special commission rates as a high volume trader nor using chart intervals appropriate for scalping nor using a trade execution platform appropriate for scalping...
[16:45] <@wrbtrader> They ain't scalping.
[16:46] <@wrbtrader> I recently met a guy that told me he scalps via the 5min chart interval.
[16:46] <@wrbtrader> I thought he was joking
[16:47] <+jbuch> that AL brook guy says that.
[16:47] <@wrbtrader> Yes...this guy that told me he scalps via 5min chart intervals uses the Al Brooks Bar by Bar trade method.
[16:48] <@wrbtrader> I told him he's just a normal day trader...not a scalper.
[16:48] <+matinthehat> okay
[16:49] <@wrbtrader> If I was going to scalp...I think I would try to do it via Lightspeed execution platform or something similar.
[16:49] <+jbuch> it is just symantecs.
[16:49] <@wrbtrader> Yeah
[16:50] <@wrbtrader> I had a trade today that I thought for sure I would capture 2 - 5 points but I only got +0.25 tick
[16:50] <@wrbtrader> Price action got too funky after my entry
[16:51] <@wrbtrader> That's when frustration gets to me...go into a trade looking for points and I only get a few ticks...
[16:51] <@wrbtrader> I quickly start losing my patience.
[17:10] <@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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@
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