#FuturesTrades is
free along with being a serious professional trading chat room and 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 as long as they do not violate our
Terms of Use (TOU) Policy.
Thanks for reading the trade and market commentary log.
Posted by M.A. Perry
Trader and Founder of
WRB Analysis (wide range body analysis)
------------------------
Session Start: Thu Jan 07 09:25:00 2010
Session Ident: #futurestrades
[09:25] * Now talking in #futurestrades
[09:25] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:25] <Nesi> morning all
[09:29] <pat255>
[09:29] <drt>
[09:31] <Forex2stay> morning everyone
[09:34] <@wrbtrader> I must be imagining things...the 0830am est Unemployment Claims report was a non-event (no or very little price action).
[09:34] <@wrbtrader> Crazy
[09:34] <+Forex2stay> same with EURUSD...very little reaction
[09:35] <@wrbtrader> Wow...this market is DEAD
[09:35] <+Forex2stay> EURUSD range today is 100 pips, so pretty much average....Nice steady down move since London open.
[09:36] <+Forex2stay> reversal came right about the NY open
[09:36] <+Forex2stay> so 8:30am EST
[09:38] <@wrbtrader> Shorts ES @ 1131.50 -> large size
[09:38] <@wrbtrader> 9 only
[09:39] <@wrbtrader>
[09:39] <@wrbtrader> punks
[09:39] <@wrbtrader> got suckered punched
[09:40] <@wrbtrader> Covered all ES Short @ 1132.00 --> - 0.5
[09:40] <+drt> s es 32.
[09:40] <@wrbtrader> Shorts ES @ 1131.75 -> large size
[09:41] <@wrbtrader> 9 only
[09:41] <@wrbtrader> better entry this time
[09:44] <+pat255> looks bullish N
[09:44] <@wrbtrader> Covered all ES Short @ 1132.25 --> - 0.5
[09:44] <@wrbtrader> agree
[09:44] <@wrbtrader> back to neutral and sideline.
[09:45] <@wrbtrader> I see a 3 tick range I'm trading in
[09:45] <+drt> cs es 31.75
[09:46] <@wrbtrader> Shorts ES @ 1131.50 -> large size
[09:47] <@wrbtrader> 9 only
[09:47] <@wrbtrader> more volatility this time around
[09:47] <@wrbtrader> meant rising volatility
[09:50] <@wrbtrader>
[09:50] <@wrbtrader> tough price action again
[09:51] <jbuch> 130 was a rock yesterday
[09:51] <@wrbtrader> yeah...that price area between 1132 - 1130 was problematic
[09:52] <@wrbtrader> I've been increasing my time intervals and length of time in trades...overall...my profits have declined instead of increasing.
[09:53] <@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.
[09:54] <@wrbtrader> Staying in trades for 10mins - 20mins for only a few tick profits is troubling.
[09:54] <@wrbtrader> Only reason why I'm still short is because of what I said yesterday in that I'm expecting a "trend day" or "strong directional price movement" in the next few trading days.
[09:55] <+Nesi> Long ES @ 1129.00
[09:55] <@wrbtrader> If such happens...most likely it'll start out of the gate and then range for the remainder of the trading day.
[09:56] <+jbuch> Shorts TF @ 1128.75
[09:57] <@wrbtrader> At least all the key markets are still moving together instead of
each other like yesterday
[09:58] <+jbuch> Covered all TF Short @ 1128.5 --> + 0.25
[09:59] <+Nesi> Exited all ES Long @ 1128.00 --> - 1
[10:00] <@wrbtrader> Covered all ES Short @ 11278.00 --> - 10146.5
[10:00] <@wrbtrader> ooops
[10:00] <+pat255> vn N
[10:00] <@wrbtrader> Covered all ES Short @ 1128.00 --> + 3.5
[10:00] <@wrbtrader> Holding 1 contract remainder
[10:00] <+pat255> wtg
[10:00] <+Nesi> Long ES @ 1128.00
[10:01] <@wrbtrader> Someone once asked me to "explain" why I keep a 1 contract position after make a big profit in a large position.
[10:01] <@wrbtrader> Here's why and it's psychological...
[10:01] <@wrbtrader> I have a tendency to continue trading (give back profits) when I exit ALL contracts in a large position that's a big winner.
[10:02] <@wrbtrader> To fight that or control that problem I have...
[10:02] <@wrbtrader> I keep a 1 contract remainder and that prevents me from taking another trade for a long while.
[10:02] <@wrbtrader> Essentially slowing me down and gives me time to think.
[10:03] <+Nesi> thanks wrbtrader
[10:03] <@wrbtrader> Thus, in many ways, although I have 1 contract sitting out there after a big profit...I'm sidelined and will just monitor the 1 contract with a 1 tick profit trail stop.
[10:04] <@wrbtrader> exit stop set ES @ 1131.25
[10:09] <+Nesi> Exited all ES Long @ 1129.25 --> + 1.25
[10:10] <+pat255> vn
[10:28] <@wrbtrader> Right back at the 1130 level
[10:32] <@wrbtrader> Covered Remainder ES Short @ 1130.75 --> + 0.75
[10:33] <@wrbtrader> volatility spike
[10:36] <+Nesi> Shorts ES @ 1131.75
[11:03] <+jbuch> Long TF @ 1133.75
[11:07] <+pat255> geez es dog ..take an entry & go awaf doe an hour walk
[11:07] <+pat255> doe=for
[11:07] <@wrbtrader> Long ES @ 1133.50 -> small size
[11:08] <@wrbtrader> 3 only
[11:14] <+jbuch> I have been late to the game all am
[11:15] <+jbuch> tried to catch the short that N was in 3 time the one I did sucked
[11:16] <+jbuch> and I tried to catch this up move at 29.75 and then 31.5
[11:17] <+jbuch> and now I have it after an exhaustion spike and a trend break
[11:18] <+jbuch> exit stop set TF @ 1132.75
[11:18] <+jbuch> need to get some coffee
[11:31] <@wrbtrader> We can officially say the low volatility tight trading range has arrived again.
[11:32] <@wrbtrader> I'm now looking for an exit...can't take it anymore
[11:32] <+jbuch> I feel ur pain
[11:33] <+jbuch> feels like the market is waiting for something
[11:33] <@wrbtrader> Exited all ES Long @ 1137.50 --> + 4
[11:34] <@wrbtrader> ooops
[11:34] <@wrbtrader> Exited all ES Long @ 1133.50 --> 0
[11:34] <@wrbtrader> time for lunch
[11:34] * wrbtrader is now known as wrbtrader_away
[11:38] <+jbuch> wow
[11:39] <+jbuch> tick fading
[11:39] <+jbuch> Exited all TF Long @ 1032.75 --> - 101
[11:39] <+pat255> y
[11:40] <+jbuch> oops es not tf
[11:45] <+jbuch> Long TF @ 1133
[11:49] <+jbuch> think that I am upside down
[11:53] <+jbuch> minor higher low
[11:59] <@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.
[12:00] <+jbuch> Exited all ES Long @ 1133.25 --> + 0.25
[12:10] <+jbuch> Long ES @ 1133.5
[12:14] <+jbuch> vol starting to increase but no movement
[12:16] <+jbuch> dang was just about to take a long on TF and it exploded
[12:19] <+jbuch> dang TF is already up 100 bucks
[12:21] <+jbuch> break it baby
[12:23] <+jbuch> Exited all ES Long @ 1134.75 --> + 1.25
[12:25] <pdays> Shorts ES @ 1135.0
[12:26] <+pdays> Covered all ES Short @ 1134.5 --> + 0.5
[12:40] <rickf> gday
[12:44] <+codehead> big volume on the 1 min bar, that ES high
[12:44] <+codehead> 15,713 contracts, next bar 769 contracts
[12:51] <+jbuch> hey rick
[12:51] <+rickf> sup jb
[12:53] <+jbuch> seems like a lot of dumping up here
[12:53] <+rickf> i dont track volume levels
[12:54] <+rickf> doesnt look like much of anything AGAIN
[12:55] <+jbuch> nice swings this AM
[12:55] <+rickf> yeah missed those, unfortunately
[12:55] <+jbuch> me to
[12:57] <+rickf> actually would have taken a long right after the 10AM drop ... the only setup I have so far today on the ES
[12:57] <+rickf> same on the TF looks like
[13:01] <+jbuch> awesome swings on TF today
[13:02] <+rickf> what timeframe jb? i don't see much beyoind the 10AM drop and spike
[13:02] <+jbuch> 5 min
[13:02] <+rickf> yeah that's what i use
[13:02] <+rickf> *shrug* owell, each to our own
[13:03] <+jbuch> 700 dollar drop per contract in 15 min
[13:03] <+rickf> i am trying to stick to 5m as primary timeframe for 2010 ... no more char-tshifting all the darn time
[13:05] <+jbuch> and then another $600 swing in 20 min back up
[13:06] <+jbuch> a thing of beauty
[13:18] <+rickf> indeed
[14:01] <+jbuch> this market requires a lot of coffee.
[14:05] <+rickf> *yawns* did you say something? lol
[14:05] <@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.
[14:10] <+codehead> NQ been sucking but made a triangle, could break out
[14:10] <+jbuch> es is in a big advancing wedge
[14:10] <+rickf> TF is contracting too
[14:10] <+jbuch> at the high of the year though
[14:12] <+rickf> some year .... 4 days
[14:12] <+jbuch>
[14:13] <+jbuch> high of the last year and 7 days. to be correct
[14:13] <+rickf> true
[14:13] <+jbuch> to the square root
[14:17] <+jbuch> what a different chart on NQ than the rest of of them
[14:20] <+rickf> well it's going down, for one
[14:20] <+rickf> but also consolidating
[14:20] <+jbuch> Long ES @ 1135.25
[14:23] <+jbuch> if it breaks don't really have a clue were to put my target
[14:26] <+rickf> i'd target 1138
[14:27] <+rickf> but what do i know
[14:27] <+jbuch> Exited all ES Long @ 1135.5 --> + 0.25
[14:28] <+jbuch> those last few trades drained my patience
[14:28] <+rickf> if it doesnt brak upwards i think it will head lower .... been trying to cross 1135/6 range a fdew times today and failed
[14:30] * wrbtrader_away is now known as wrbtrader
[14:31] <+jbuch> shoot tried to get back in
[14:31] <@wrbtrader> Long ES @ 1136.25 -> small size
[14:31] <@wrbtrader> 3 only
[14:31] <@wrbtrader> intuition
[14:32] <MK> Long ES @ 1136.5 «« simulator »»
[14:35] <+MK> Exited all ES Long @ 1137.5 --> + 1 «« simulator »»
[14:35] <@wrbtrader> Exited all ES Long @ 1138.25 --> + 2
[15:01] <tomosyn57> Shorts SSO @ 40.05
[15:01] <@wrbtrader> wow
[15:01] <+tomosyn57> exit stop set SSO @ 40.00
[15:02] <+tomosyn57> Covered 1/2 SSO Short @ 39.94 --> + 0.11
[15:03] <+tomosyn57> Did some news event come out?
[15:04] <+jbuch> maybe an earnings report
[15:04] <+jbuch> haven't heard of anything
[15:05] <+tomosyn57> Trailing Stop Hit SSO @ 40.00 --> + 0.05
[15:06] <+codehead> it hit a major target
[15:06] <+codehead> 74k dump on that 5-min bar, top of hour
[15:06] <+jbuch> yeah maybejust profit taking
[15:07] <@wrbtrader> I saw Oil and Gold hit a resistance area but wasn't even watching the Emini ES.
[15:23] <+jbuch> TF at HOD
[15:24] <@wrbtrader> Eminis retraced that sudden drop as if the drop itself was a "rumor news".
[15:24] <+jbuch> yeah wierd
[15:24] <@wrbtrader> Usually rumors are retraced quickly.
[15:28] <Tigerman> hi all
[15:29] <+Tigerman> let see if something move down
[15:29] <+Tigerman> Shorts ES @ 1137.25 «« simulator »»
[15:30] <+Tigerman> resistence zone but price glued
[15:31] <+Tigerman> of course move in the other directio after I entered
[15:38] <+Tigerman> Covered 1/3 ES Short @ 1137.75 --> - 0.5 «« simulator »»
[15:39] <+Tigerman> Covered 1/3 ES Short @ 1137.75 --> - 0.5 «« simulator »»
[15:43] <+Tigerman> Covered Remainder ES Short @ 1138 --> - 0.75 «« simulator »»
[15:43] <+Tigerman> wait eternity for exit @ a better price
[15:44] <+Tigerman> strange price action in last days price glued@ some levels and not moving
[15:46] <+jbuch> Shorts ES @ 1138.25
[15:47] <+MK> Shorts ES @ 1137.75 «« simulator »»
[15:48] <+Tigerman> not like this price action so I go
[15:48] <+Tigerman> c ya next time
[15:48] <+Tigerman> bye to all
[15:48] <@wrbtrader> Take care
[15:49] <+rickf> cya
[15:50] <+rickf> Bespoke saying many S&P sectors in the red, massively overbought and suggest 'immediate reversal'
[15:50] <+rickf>
http://www.bespokeinvest.com/bespoke/20 ... icals.html[15:51] <+jbuch> well considering that I am short I like his style
[15:56] <+rickf> yeah ... we'll just take it day by day
[15:56] <+rickf> speaking of which, have a good day -- see you tomorow
[15:56] <+rickf> maytbe we get some better moves too
[15:56] <+jbuch> Covered all ES Short @ 1137.75 --> + 0.5
[15:58] <+jbuch> same here have a good one all
[16:05] <@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.
[16:07] <+MK> Shorts ES @ 1137.50 -> Add «« simulator »»
[16:09] <@wrbtrader> Take care all and see all tomorrow...glad volatility showed up today to make trading a lot easier.
[16:09] * wrbtrader is now known as wrbtrader_away
-------------------------
#FuturesTrades is
free and is a serious professional trading chat room in which 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. To gain access to #FuturesTrades...please follow the instructions at the below link.
http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5The purpose of #FuturesTrades is that it's designed to be a
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http://www.thestrategylab.com/FuturesTradesChatRoom.htm Also, 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
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Reminder, 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. Also, these logs may have been edited (rarely) to remove any messages that a member has complained to me via private message that they consider a particular commentary to be inappropriate, offending or too far in the off topic area that's a distraction when the commentary was posted.
Note: All logs regardless to their location at TheStrategyLab.com website are eastern standard time. Best Regards,
M.A. Perry
Trader and Founder of
WRB Analysis (wide range body analysis)
@
http://twitter.com/wrbtrader Phone: +1 708 572-4885
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