#FuturesTrades is
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trading tips that may or may not help with your trading.
Therefore, we welcome all traders with their own methods or different perspective of the markets as long as they do not violate our
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Thanks for reading the trades or market commentaries that's below and it's highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful
trading tips not discussed anywhere else online nor in any books.
Posted by M.A. Perry
Trader and Founder of
WRB Analysis (wide range body analysis)
------------------------
Session Start: Mon May 10 09:29:12 2010
Session Ident: #FuturesTrades
[09:29] * Now talking in #FuturesTrades
[09:29] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:30] <kosmipt>
[09:30] <rickf>
[09:31] <@wrbtrader> Thanks to the EU $1 trillion package deal to "save" the Euro...we have one of the biggest futures opening gap.
[09:31] <+rickf> no kidding
[09:31] <pat255>
all
[09:32] <+rickf> and yet we've only retraced the drop since thursday
[09:32] <+pat255> last week in training all week ...mised everything
[09:32] <+kosmipt> huge gap, kinda hard to buy
[09:32] <@wrbtrader> Interesting to see how prices returned to the prior key levels that lost support...just prior to the big drop.
[09:32] <werner>
all
[09:33] <xtractor> * There have only been 6 other times the S&P futures gapped up +4% or more, all concentrated in two periods. Every time, the gap ended up getting closed.
[09:33] <+xtractor> from SentimentTrader
[09:34] <Risk> how long did it take 4 the gaps 2 close?
[09:35] <+xtractor> didn't say
[09:35] <+xtractor> but i would speculate that day to a few days later
[09:36] <+Risk> i did a similar study on the EJ gap of the weekend. ALL gaps closed (over many years) On average it took 2 days
[09:37] <+xtractor> "We're getting the vicious bounce this morning, with the futures indicated to gap up more than +4% for only the 7th time (10/20/87, 10/21/87, 10/27/87, 9/19/08, 10/13/08 and 10/28/08 were the others). Each of those times, the gap ended up getting closed by prices falling back below the previous day's close...usually very quickly."
[09:37] <+kosmipt> monday gaps are less likely to fill
[09:37] <+xtractor> remember that major news trumps charts
[09:38] <@wrbtrader> I find it odd the Europe did what they did when they should have did it a long time ago like a year ago.
[09:38] <+rickf> they seemed to go 'all in' so to speak
[09:39] <+xtractor> we are above the SPX 1150 level before the large drop
[09:39] <+rickf> i think we came reeeeal close to being limit-up in the premarket on the ES
[09:40] <@wrbtrader> rickf...I bet if we had gone limit-up there wouldn't be any investigations
[09:40] <@wrbtrader> Only if we go limit down.
[09:40] <@wrbtrader>
[09:40] <+rickf> lol
[09:40] <+xtractor> anyone who is still short has to be scrambling to cover
[09:41] <+rickf> yes ... big gains overnight plus short squeeze
[09:41] <@wrbtrader> They really want to do whatever it takes to keep this market up and keep confidence via saying we'll investigate any scary price drops
[09:41] <+rickf> aftr all, msarkets only move in one direction
[09:41] <+rickf> jeez VIX down 14 pts
[09:42] <+xtractor> sell from friday part ES 1160.5 +52.25
[09:42] <+rickf> nice
[09:42] <+xtractor> sell from friday part TF 688.2 +34.5
[09:43] <+xtractor> pure luck
[09:45] <+werner> Shorts NQ @ 1936.00
[09:47] <+xtractor> sell from friday all ES 1159.75 +51.50
[09:47] <+xtractor> sell from friday all TF 687.1 +33.4
[09:48] <+werner> Covered all NQ Short @ 1934.00 --> + 2
[09:49] <+rickf> am on laptop today due to main computer problems - likely not trading as a result .. just watching
[09:49] <@wrbtrader> xtractor...nice trades
[09:53] <+xtractor> thanks wrb
[09:55] <@wrbtrader> Shorts TF @ 683.60 -> medium size
[09:55] <@wrbtrader> 4 only
[09:56] <+xtractor> there were many historically extreme oversold indicators on friday
[09:56] <@wrbtrader> good fight here to keep the support level
[09:58] <+xtractor> buys ES 1155.5
[09:59] <+xtractor> out 1155.5 0
[10:00] <@wrbtrader> Shorts TF @ 684.40 -> Add
[10:00] <@wrbtrader> 3 added
[10:01] <+xtractor> buys ES 1154
[10:04] <+werner> obama is speaking
[10:04] <@wrbtrader>
[10:04] <+rickf> scotus nominee
[10:04] <@wrbtrader> Pres. Obama on TV
[10:05] <@wrbtrader> Covered TF Short @ 683.00 --> + 2
[10:05] <@wrbtrader> still holding initial short position
[10:05] <+rickf> anyone here know why in 2010 some brokers (full service) still do 20m delayed quotes?
[10:05] <+rickf> is it just to force 'value added' in the eyes of their brokers?
[10:06] <+rickf> just seems such an antequated thing nowdays
[10:06] <@wrbtrader> +1.4 on those 3 adds...not +2.0
[10:07] <+xtractor> sell ES 1154.25 +0.25
[10:07] <+werner>
[10:08] <@wrbtrader> Covered TF Short @ 682.60 --> + 1
[10:08] <@wrbtrader> Holding 2 contract remainders
[10:09] <@wrbtrader> his speech is contracting the volatility
[10:11] <@wrbtrader> Covered Remainder TF Short @ 683.40 --> + 0.2
[10:11] <@wrbtrader>
[10:12] <@wrbtrader> sidelined until major financial networks stop following the speech
[10:13] <+xtractor> buys ES 1157.25
[10:18] * codehead_afk is now known as codehead_busy
[10:21] <@wrbtrader> Shorts TF @ 682.70 -> medium size
[10:21] <@wrbtrader> 4 only
[10:21] <@wrbtrader> intuition in reaction to prior short
[10:21] <@wrbtrader> Obama no longer on TV
[10:23] <+xtractor> buys ES 1152.5 add
[10:23] <@wrbtrader> Covered all TF Short @ 682.50 --> + 0.2
[10:25] <+Risk> Shorts TF @ 683 «« simulator »»
[10:26] <@wrbtrader> hammering @ support
[10:27] <+Risk> Covered 1/2 TF Short @ 682 --> + 1 «« simulator »»
[10:27] <@wrbtrader> Shorts TF @ 682.20 -> small size
[10:27] <@wrbtrader> 2 only
[10:29] <@wrbtrader> Covered TF Short @ 681.60 --> + 0.6
[10:29] <+Risk> Covered Remainder TF Short @ 681 --> + 2 «« simulator »»
[10:29] <@wrbtrader> punks
[10:30] <+kosmipt>
[10:30] <@wrbtrader> testing another support area on declining volatility
[10:30] <+kosmipt> 680 am support
[10:30] <Jacktheripper> is there a tool to measure volatility on ninjatrader?
[10:31] <@wrbtrader> Long TF @ 682.60 -> small size
[10:31] <@wrbtrader> 3 only
[10:31] <+kosmipt> bollinger bands give you a sense of volatility
[10:34] <@wrbtrader> Exited all TF Long @ 682.30 --> - 0.3
[10:35] <@wrbtrader> I'm still bullish until support is gone
[10:36] <+kosmipt> tested 680 perfectly
[10:39] <+kosmipt> 1150 ES holding as well
[10:39] <@wrbtrader> Long TF @ 681.60 -> small size
[10:39] <@wrbtrader> 3 only
[10:41] <@wrbtrader> Exited all TF Long @ 682.20 --> + 0.6
[10:42] <@wrbtrader> VXX trying to push higher...above a tight trading range
[10:43] <@wrbtrader> Shorts TF @ 680.80 -> small size
[10:43] <@wrbtrader> 3 only
[10:44] <@wrbtrader> Covered all TF Short @ 679.30 --> + 1.5
[10:44] <+pat255> vn N ..
[10:45] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @
http://www.thestrategylab.com/ftchat/forum[10:45] <@wrbtrader> As soon as I saw several different key markets break their own key levels...
[10:45] <@wrbtrader> I just follow the herd
[10:45] <+rickf>
[11:01] <+Risk> if any 1 here uses IB, can u tell me if u get TICK data. mine stopped a few minutes ago.
[11:04] <+Risk> seems that they have a problem. just spoke 2 them
[11:05] <+xtractor> sells all ES 1155.25 avg +small
[11:05] <+pat255> vn good patience ..
[11:07] <+xtractor> i'm calling for an investigation as to how the markets could be up 400pts +
[11:10] <+Risk> Shorts TF @ 680.1 «« simulator »»
[11:17] <+Risk> Covered 1/2 TF Short @ 679.5 --> + 0.6 «« simulator »»
[11:18] <+Risk> Covered Remainder TF Short @ 679.6 --> + 0.5 «« simulator »»
[11:28] <+xtractor> buys ES 1154.25
[11:30] <+xtractor> sells part ES 1156.25 +2
[11:32] <zigster> dang
[11:36] <+werner> back
[11:41] <+xtractor> sells part ES 1157.50 +3.25
[11:42] <+pat255> vn
[11:45] <+xtractor> sells part ES 1156.5 +2.25
[11:53] <+xtractor> sells all ES 1158.25 +4
[11:53] <+pat255> vn
[12:15] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @
http://www.thestrategylab.com/ftchat/forum[12:22] <codehead_busy> short YM 10755 <paper> 10 tick stop
[12:22] <+codehead_busy> entry a little low
[12:23] <+codehead_busy> exit YM +8 <paper>
[12:24] <+codehead_busy> still in sell signal, but low entry so was going for scalp
[12:39] <MrYinYangTrader> not trading today... testing out a new platform. ninja trader with tt technologies
[12:40] <+MrYinYangTrader> i like this chart trade function
[12:47] <+codehead_busy> tt technologies--meaning static dom or whatever they call it?
[12:48] <+MrYinYangTrader> yea
[12:51] <@wrbtrader> Long TF @ 682.50 -> small size
[12:51] <@wrbtrader> 2 only
[12:56] <@wrbtrader> Exited all TF Long @ 682.60 --> + 0.1
[12:57] <@wrbtrader> Shorts TF @ 682.10 -> small size
[12:57] <@wrbtrader> 1 only
[13:05] <@wrbtrader> Shorts TF @ 681.20 -> Add
[13:06] <@wrbtrader> 2 added
[13:08] <@wrbtrader> Covered 2/3 TF Short @ 679.50 --> + 1.7
[13:10] <@wrbtrader> trail tighten @ profit
[13:10] <@wrbtrader> Covered Remainder TF Short @ 680.50 --> + 1.6
[13:12] <+codehead_busy> long NQ 1925.25 <paper>
[13:13] <@wrbtrader> Long TF @ 679.50 -> small size
[13:13] <+codehead_busy> did buy 1924.50 on the way down, didn't get much as it did one more puch lower
[13:13] <@wrbtrader> 2 only
[13:13] <+codehead_busy> but buyer keeps coming back at 1925.00, same as earlier int he day
[13:14] <@wrbtrader> Exited all TF Long @ 679.30 --> - 0.2
[13:14] <+codehead_busy> exit NQ +.50 <paper>
[13:14] <@wrbtrader> Shorts TF @ 678.50 -> medium size
[13:14] <@wrbtrader> 4 only
[13:16] <+xtractor> buys ES 1146.5
[13:17] <+xtractor> buys TF 678.4
[13:18] <+codehead_busy> long NQ 1924.00 <paper>
[13:18] <@wrbtrader> Covered all TF Short @ 678.50 --> 0
[13:18] <+codehead_busy> exit +3.00 NQ half <paper>
[13:19] <+xtractor> sells part TF 679.4 +1
[13:19] <+codehead_busy> raise stop to +1.00 NQ <paper>
[13:19] <+xtractor> sells part ES 1149.5 +3
[13:19] <+codehead_busy> raise stop to +2.00 NQ <paper>
[13:20] <+codehead_busy> exit NQ remainder +2.75 <paper>
[13:24] <+xtractor> sells part ES 1150.5 +4
[13:28] <@wrbtrader> Long TF @ 678.60 -> small size
[13:28] <@wrbtrader> 1 only
[13:28] <@wrbtrader> hammering @ support
[13:29] <@wrbtrader> Exited TF Long @ 678.30 --> - 0.3
[13:30] <@wrbtrader> Long TF @ 678.90 -> small size
[13:30] <@wrbtrader> 2 only
[13:31] <+xtractor> sells part ES 1150.5 +4
[13:31] <+codehead_busy> nice
[13:33] <+xtractor> sells all ES 1151.75 +5.25
[13:34] <+xtractor> sells part TF 679.9 +1.5
[13:34] <@wrbtrader> Exited 1/2 TF Long @ 679.90 --> + 1
[13:35] <+xtractor> sells all TF 680.4 +2
[13:40] <PirateTrader> what is TF?
[13:40] <@wrbtrader> Exited Remainder TF Long @ 679.40 --> + 0.5
[13:43] <@wrbtrader> Pirate...it's the Russell 2000 Emini Futures
[13:43] <@wrbtrader> You can learn about it on the ICE Exchange @
https://www.theice.com/[13:43] <+PirateTrader> thanks, those I dont trade
[13:44] <+PirateTrader> not my style of trading, I like ES instead but I respect russell traders, fast index
[13:45] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @
http://www.thestrategylab.com/ftchat/forum[13:47] <+xtractor> buys ES 1147.25
[13:49] <@wrbtrader> Long TF @ 679.70 -> small size
[13:49] <@wrbtrader> 3 only
[13:49] <+xtractor> sells part ES 1149.25 +2
[13:54] <@wrbtrader> Exited 2/3 TF Long @ 680.10 --> + 0.4
[13:55] <@wrbtrader> volatility is tightning up again
[13:56] <@wrbtrader> Exited Remainder TF Long @ 680.80 --> + 1.1
[14:01] <+xtractor> sells all ES 1146.25 -1
[14:01] <@wrbtrader> hammering @ support
[14:02] <@wrbtrader> If this is going to make an attempt to fill in the GAP...
[14:03] <@wrbtrader> I hope it doesn't occur in the overnight trading session.
[14:03] <@wrbtrader> Long TF @ 679.40 -> small size
[14:03] <@wrbtrader> 1 only
[14:04] <@wrbtrader> Exited TF Long @ 680.10 --> + 0.7
[14:05] <@wrbtrader> no reason for the exit...no profit reached...just wanted to take a break
[14:05] <@wrbtrader> Be back later...going outside to get some fresh air even though it's very cold.
[14:06] * wrbtrader is now known as wrbtrader_away
[14:07] <+Risk> last Thursday and Aug/16/2007 look very similar (SPY)
[14:08] * +PirateTrader L ES 1146.50, missed the 2pm buy at 44 by seconds
[14:08] <+PirateTrader> hope dont regret chasing it
[14:10] * +PirateTrader out 1/2 48.50ES+2, be rest
[14:10] <+PirateTrader> offering rest at 53
[14:10] <+PirateTrader> 2pm buyers so far from NDL
[14:11] <+PirateTrader> this is actually sorta bullish
[14:11] <+PirateTrader> 3 dips under key sp500 1150 level each time meets buying
[14:12] <+PirateTrader> so looks like 1150 the tug/pull for the close
[14:17] * +PirateTrader out ES L 47.5 +1, watching paint dry
[14:17] <+PirateTrader> lol; any guesses for close direction? i'm thinking UP
[14:23] <@wrbtrader_away> Just found out there's a fx crude oil trading instrument for those that want fx exposure to Oil
[14:24] <@wrbtrader_away> geeesh...they got something for everything out there
[14:24] * wrbtrader_away is now known as wrbtrader
[14:25] <+PirateTrader> oh well, shoulda stayed with my gut and stayed es long from 46s
[14:33] <+werner> Long NQ @ 1929.25
[14:35] <+werner> Exited all NQ Long @ 1932.25 --> + 3
[14:39] <@wrbtrader> Shorts TF @ 680.20 -> small size
[14:39] <@wrbtrader> 2 only
[14:39] <+PirateTrader> question: I was busy at the open with GS puts, how was ES volume at the open, first hour or so
[14:39] <@wrbtrader> bad entry...don't have much of a wiggle room to handle a pop back up
[14:40] <+Risk> what platform r u useing PirateTrader?
[14:41] <@wrbtrader> Covered all TF Short @ 680.00 --> + 0.2
[14:41] <+PirateTrader> IB
[14:41] <+PirateTrader> oh, I know I good look
[14:41] <+PirateTrader> but was curious as to the feel on ES at the open
[14:42] <+Risk> so why don't u load a chart of ES and c the answer 2 your question?
[14:45] <+PirateTrader> charts dont show 'feel' of the tape
[14:45] <+PirateTrader> humans do
[14:46] <@wrbtrader> Talking about "feel"...ES volume felt normal to me even with the excitement of what EU did.
[14:46] <@wrbtrader> Volatility is definetly normal
[14:47] <+Risk> so how do u gauge FEEL?
[14:47] <+werner> Long NQ @ 1929.00
[14:47] <@wrbtrader> you can't...that's why it's refer to as "feel"
[14:47] <@wrbtrader>
[14:47] <@wrbtrader> maybe "market experience" or "intuition
[14:48] <+Risk> maybe I have my period 2day.
[14:49] <+werner> Exited all NQ Long @ 1929.50 --> + 0.5
[14:49] <+werner>
[14:50] <@wrbtrader> However, I think the market is just resting today...trying hard not to stir the hornet nest sort'uv speak.
[14:51] <@wrbtrader> Things should heat up again "a little" on Wednesday unless some economic news comes out of Europe between now and Wednesday
[14:53] <@wrbtrader> Last Thursday's and Friday's volatility was extremely unusual...got to exploit them when they occur because it may be months or years before they appear again.
[14:54] <+werner> still lack patience here:(
[15:02] <+PirateTrader> so does DAX stay over 6000 tonight will certainly have a tell for US tomorrow
[15:02] <+PirateTrader> any dax futures traders here?
[15:06] * +PirateTrader Long ES 49.25; target 53
[15:11] * +PirateTrader Add to L ES 1147, ave 1148 (GS puts from this morning pay for this risk)
[15:12] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @
http://www.thestrategylab.com/ftchat/forum[15:13] <+Risk> Shorts TF @ 681 «« simulator »»
[15:15] <+PirateTrader> warning, i'm about to close my ES scalp here around breakeven, so it'll then go to 1153 right after lol
[15:15] <+werner> Long NQ @ 1928.50
[15:16] <+Risk> Covered all TF Short @ 681.5 --> - 0.5 «« simulator »»
[15:16] <+Risk> Shorts TF @ 681 «« simulator »»
[15:17] <+werner> Exited all NQ Long @ 1927.50 --> - 1
[15:17] <+werner> Shorts NQ @ 1926.50
[15:18] <@wrbtrader> Whom in here consider themselves a "scalper"
[15:18] <@wrbtrader> If so, what special rates are you getting and are you automated
[15:19] <@wrbtrader> How many trades per day (20, 50, 100, 200)
[15:19] <+xtractor> buys ES 1147.5
[15:20] <@wrbtrader> I did a poll several years ago with questions like that...
[15:20] <@wrbtrader> will do another one on twitter here soon.
[15:20] <+PirateTrader> amazing how spx 1150 / dow cash 10700 clings to these supports
[15:20] <@wrbtrader> Last poll I did had about 300 replies...
[15:21] <@wrbtrader> average scalper was doing about 100 trades per day
[15:21] <+xtractor> not a scalper here
[15:21] <+PirateTrader> i'm not a scalper
[15:21] <+PirateTrader> i';ll do some for +1 or +2 but in general, prefer few longer goals, +5 or so
[15:21] <@wrbtrader> Paying a fixed fee per month or had a exchange seat getting very special rates
[15:22] <+Risk> Covered all TF Short @ 681.5 --> - 0.5 «« simulator »»
[15:23] * +PirateTrader offering at 49.50
[15:23] <@wrbtrader> almost all of them had a high end data vendor
[15:23] <+werner> Covered all NQ Short @ 1928.50 --> - 2
[15:23] <+PirateTrader> shorts are saying SP500 1150 SHOULDA been lost, wasn't and maybe some squeezing
[15:24] <@wrbtrader> Thus, I concluded most retail traders are not scalping but are either just day traders and swing traders.
[15:24] <+werner> no swing here
[15:24] <+PirateTrader> 1more tick baby
[15:25] <+xtractor> how do you define a "retail trader"?
[15:25] <+werner> Long NQ @ 1930.00
[15:25] * +PirateTrader Out ES Long 3/4size, 49+1; BE rest at 48.00
[15:26] <@wrbtrader> retail trader = someone not a remote firm trader and trading from home.
[15:27] <+PirateTrader> any close guesses? I'm at 1153.50
[15:27] <+werner> trading from home here
[15:27] <@wrbtrader> Usually when signing up with a broker, data vendor et cetera...
[15:28] <@wrbtrader> They'll as if you're Pro or Non-Pro
[15:28] <@wrbtrader> as = ask
[15:28] <@wrbtrader> It's another way of sayin Pro versus Retail
[15:28] <+xtractor> sells part ES 1149.5 +2
[15:29] <+PirateTrader> some of the best traders I know are retail, some of the worst 'pro'
[15:29] <@wrbtrader> Pro traders are on salary
[15:30] <+PirateTrader> what ever happened to all those Emini Prop shops
[15:30] <+PirateTrader> they still around or close up
[15:30] <@wrbtrader> They have a lower encentive I guess unless they want a fat christmas bonus
[15:31] <+xtractor> sells part ES 1150.5 +3
[15:31] <@wrbtrader> Pirate...good question...I've been asking that question over the past 3 years at different forums in threads heavy with prop shop talk...
[15:31] <@wrbtrader> Not one reply
[15:31] <@wrbtrader> Almost as if nobody has ever heard of an Emini prop shop
[15:32] <+xtractor> i remember of an IRS ruling not favorable to prop shop traders
[15:32] <@wrbtrader> Emini prop shops
[15:32] <+PirateTrader> sure, they exist
[15:33] <+PirateTrader> just like Options only prop shops exist
[15:33] <+PirateTrader> very underground though
[15:33] <+xtractor> not sure if it was specific or prop shops in general
[15:33] <@wrbtrader> I've heard of Emini Arcade offices
[15:33] <+werner> Exited all NQ Long @ 1928.50 --> - 1.5
[15:34] <@wrbtrader> I almost joined one myself when I lived in Seattle many years ago.
[15:34] <+xtractor> i think it had to do with being an employee vs independent
[15:34] <+PirateTrader> wrb: emini prop or stocks
[15:34] <@wrbtrader> Emini Arcade...not prop
[15:34] <@wrbtrader> Here's the differernce...
[15:34] <+PirateTrader> that 3pm bounce bit weaker than though
[15:34] <+PirateTrader> what is arcade
[15:35] <+PirateTrader> dont know that term
[15:35] <@wrbtrader> Basically someone rents a office space...supplies all the computers, software, other computer equipement.
[15:36] <@wrbtrader> They then charge traders a fee to use the office and equipement.
[15:36] <@wrbtrader> That's it
[15:36] <+PirateTrader> oh, ok, yea
[15:36] <+PirateTrader> that's not prop then, right
[15:36] <+PirateTrader> your own money
[15:36] <@wrbtrader> correct
[15:38] <@wrbtrader> Kind'uv like renting an apartment...pay a deposit...move in...can continue using the space as long as you pay your monthly rent.
[15:38] <+werner> Long NQ @ 1929.00
[15:38] <+werner> Long NQ @ 1930.00 -> Add
[15:39] <+xtractor> sells all ES 1150.5 +3
[15:39] <@wrbtrader> I'm thinking about opening an arcade myself in the next few years
[15:40] <+werner> Exited 1/2 NQ Long @ 1931.75 --> + 1.75
[15:41] <+xtractor> i like trading in my underwear
[15:42] <@wrbtrader> There are two types of retail trader...those that trade in their underwear and those that want to be around others with pants on.
[15:42] <@wrbtrader> I'm the latter but currently trading from home because of the family situation.
[15:44] <@wrbtrader> At the minimum...in a few years I'll rent an office space just for myself. Someplace close to my kids school or home.
[15:45] <+werner> ok so you are not trading at home?
[15:46] <@wrbtrader> Yes, at home trader in a basement office...will go office (most likely at a nearby shopping center) near my kids school.
[15:46] <@wrbtrader> Will do that in a few more years.
[15:48] <@wrbtrader> When I lived in Seattle, renting an apartment, I had an office space downtown Seattle near Pioneer Square (next to the old Kingdom).
[15:48] <@wrbtrader> Traded like that with 2 other other traders for many years.
[15:50] <+PirateTrader> I think UP tomorrow, least at Open
[15:50] <+PirateTrader> anyone think we tank tomorrow?
[15:51] <@wrbtrader> It was great hours...start trading at 0630am pst and done by 1:30pm est
[15:51] <@wrbtrader>
[15:51] <+PirateTrader> it did it without me,
[15:52] <+PirateTrader> but was right about 1153.50 mentioned hour ago as target
[15:52] <+PirateTrader> next UP target is 1155
[15:52] <@wrbtrader> TF hammering @ resistance
[15:52] <+werner> ok, i am at home and i miss a lake of discipine here ... if the market not doing my think i go to walk in the garden ... repair the motor from my kid ....
[15:53] <@wrbtrader> Long TF @ 684.70 -> small size
[15:53] <@wrbtrader> 2 only
[15:53] <+werner> Exited all NQ Long @ 1936.00 --> + 7
[15:54] <+werner> think +thing
[15:54] <+Risk>
[15:54] <+PirateTrader> cool. Next UP ES target prints at 1155
[15:54] <+PirateTrader> verynice
[15:54] <+PirateTrader> close right here is perfect
[15:55] <+werner> tx risk,pirate
[15:55] * +PirateTrader Long 55s (late post)
[15:56] <+PirateTrader> tired of just watching my last 2 UP targets hit witout me
[15:56] <@wrbtrader> Exited all TF Long @ 686.10 --> + 1.4
[15:56] * +PirateTrader out ES long 57 +1.5, that was stupid long entry
[15:56] <@wrbtrader> Rush Hour traffic price action of 4pm est
[15:57] <+xtractor> shorts who were hoping for a lower price to cover
[15:57] <+werner> wrbtrader is it better to trade at an office than at home?
[15:57] * +PirateTrader S 1157.50 scalp
[15:58] <@wrbtrader> 688 the next resistance area
[15:58] <+werner> more discipline at the office?
[15:58] <@wrbtrader> YES...a big YES
[15:58] * +PirateTrader covers 1157s flat, just saw the time, must go
[15:58] <+werner> tx wrbtrader
[15:58] <+PirateTrader> trade in business clothes at home helps
[15:58] <+PirateTrader> never trade in bathrobe, ever
[15:59] <+werner> lol
[15:59] <@wrbtrader> Long TF @ 688.00 -> small size
[15:59] <+PirateTrader> not suit and tie, but business pants, shirt or polo shirt
[15:59] <+werner> but i think it is
[15:59] <@wrbtrader> 3 only
[16:00] <@wrbtrader> Exited all TF Long @ 689.30 --> + 1.3
[16:00] <+werner> nice
[16:00] <@wrbtrader> intuition trade within another key price area
[16:02] <+PirateTrader> how about ES next UP is 1162, not very far away
[16:02] <+werner> gn all
[16:42] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @
http://www.thestrategylab.com/ftchat/forum[16:44] <@wrbtrader> Take care all and see all tomorrow.
Session Close: Mon May 10 17:49:41 2010
-------------------------
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