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 Post subject: May 12th Wednesday - Futures, ETFs and Forex Currencies
 Post Posted: Thu May 13, 2010 2:58 am 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
#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.

This is not a signal calling chat room nor is the chat room designed to be educational. #FuturesTrades is designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day. Yet, you will see members providing useful 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 Terms of Use (TOU) Policy.

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)

------------------------

Image

Session Start: Wed May 12 00:01:08 2010
Session Ident: #FuturesTrades
[00:01] * Disconnected
Session Close: Wed May 12 00:01:08 2010

Session Start: Wed May 12 09:28:37 2010
Session Ident: #FuturesTrades
[09:28] * Now talking in #FuturesTrades
[09:28] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:29] <drt> gm all
[09:33] <pat255> S es 58 papaer
[09:33] <+pat255> today doing some paper trades ..
[09:36] <xtractor> buy ES 1157
[09:36] <+pat255> out es -1 tick
[09:39] <+xtractor> sells part ES 1159 +2
[09:40] <+xtractor> sells part ES 1160 +3
[09:40] <@wrbtrader> Long TF @ 698.70 -> medium size
[09:40] <@wrbtrader> 4 only
[09:41] <+xtractor> sells all 1159 +2
[09:41] <+xtractor> shorts ES 1158.25
[09:43] <+xtractor> covers all ES 1158 +0.25
[09:43] <@wrbtrader> Exited all TF Long @ 698.70 --> 0
[09:44] <@wrbtrader> Long TF @ 698.80 -> medium size
[09:44] <@wrbtrader> 4 only
[09:44] <@wrbtrader> sneaky little booger
[09:46] <@wrbtrader> Exited 3/4 TF Long @ 699.30 --> + 0.5
[09:46] <+xtractor> choppy
[09:46] <+pat255> y
[09:46] <@wrbtrader> Exited Remainder TF Long @ 699.50 --> + 0.7
[09:47] <@wrbtrader> I'm still bullish but just can't manage my Longs right now.
[09:47] <@wrbtrader> sidelined...just watching
[09:48] <@wrbtrader> Long TF @ 699.40 -> small size
[09:49] <@wrbtrader> 2 only
[09:49] <@wrbtrader> intuition in reaction to prior Longs
[09:52] <+xtractor> shorts ES 1159.5
[09:52] <@wrbtrader> Exited all TF Long @ 698.40 --> - 1
[09:53] <@wrbtrader> Shorts TF @ 698.60 -> small size
[09:53] <@wrbtrader> 2 only
[09:54] <+xtractor> cover part ES 1158.5 +1
[09:55] <+xtractor> cover part ES 1158.5 +1
[09:55] * codehead_busy is now known as codehead
[09:56] <@wrbtrader> Covered all TF Short @ 698.20 --> + 0.4
[09:56] <+xtractor> cover all ES 1158.5 +1
[09:57] <@wrbtrader> Long TF @ 699.10 -> small size
[09:57] <@wrbtrader> 3 only
[09:59] <@wrbtrader> Exited 1/3 TF Long @ 701.30 --> + 2.2
[09:59] <+pat255> vn N
[09:59] <+pat255> look at TF wow
[09:59] <@wrbtrader> Exited 1/3 TF Long @ 702.10 --> + 3
[10:00] <+xtractor> good trade
[10:02] <@wrbtrader> perfect timing too because I'm starving (didn't eat breakfast) and was about to go get something to eat when I saw one of my favorite VTR (volatility) trade signals.
[10:04] <+xtractor> i was waiting for a pb to 698 area before going long :)
[10:05] <@wrbtrader> TF trying to take out yesterday's highs
[10:06] <@wrbtrader> Exited Remainder TF Long @ 704.30 --> + 5.2
[10:06] <+pat255> vn
[10:06] <+xtractor> very well done!
[10:06] <@wrbtrader> :)
[10:06] <+xtractor> shorts TF 704.2
[10:07] <@wrbtrader> be back later...need to eat
[10:07] <Risk> Shorts TF @ 703.3 «« simulator »»
[10:08] <+xtractor> covers part TF 703.2 +1
[10:08] <+xtractor> covers part TF 703.2 +1
[10:08] <+Risk> Covered all TF Short @ 703.4 --> - 0.1 «« simulator »»
[10:12] <codehead> short 1961.75 NQ stop 1963.25
[10:12] <@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
[10:13] <+codehead> exit +1.50 NQ
[10:13] <+codehead> but execution error :-/
[10:14] <+xtractor> shorts ES 1153.75
[10:14] <+codehead> actually somehow reversed long 2c from my short 1c--hm
[10:14] <+xtractor> 1163.75
[10:15] <+codehead> and exited right away, +7 ticks overall (3 commish)
[10:15] <+codehead> strange... not sure what happened
[10:15] <+codehead> glad i noticed the reversal tho
[10:16] <+codehead> the bigger view is still up anyway, was just a scalp
[10:19] <+xtractor> covers part ES 1162.75 +1
[10:20] <+xtractor> covers all ES 1163.50 +0.25
[10:23] <+xtractor> shorts TF 707.2 add
[10:26] <+PirateTrader> not 1 trade this morning yet
[10:26] <+PirateTrader> annoying
[10:26] <+PirateTrader> every time i look to enter a short, it upticks so pass
[10:26] <+PirateTrader> first boring 1hour we've had in days
[10:29] <+pat255> oil inventories out
[10:31] <+codehead> build in crude, decline in gasoline
[10:35] <+xtractor> covers all TF 705.6 +0.1 avg
[10:37] <+codehead> short NQ 1963.50 <paper> 2 pt stop
[10:37] <+codehead> exit half NQ +2.00 <paper>
[10:37] <+codehead> exit remainder NQ +3.00 <paper>
[10:37] <+xtractor> buys TF 704.5
[10:38] <+codehead> longer frame is turning
[10:38] <+codehead> starting to anyway
[10:44] <+xtractor> sells part TF 705.5 +1
[10:45] <+pat255> S es 83 papaer
[10:45] <+pat255> 63
[10:47] <+Risk> Long TF @ 705.1 «« simulator »»
[10:47] <+Risk> Exited 1/2 TF Long @ 706.1 --> + 1 «« simulator »»
[10:48] <inzy> I think 64.75 es is res
[10:49] <+codehead> short 10819 YM <paper>
[10:49] <+Risk> Exited Remainder TF Long @ 706.2 --> + 1.1 «« simulator »»
[10:49] <+xtractor> sells all TF 706.5 +2
[10:49] <+codehead> exit YM +2 <paper>
[10:49] <+pat255> vn
[10:50] <+pat255> add 64.25 S
[10:50] <+xtractor> 1st lower high tf
[10:52] <+codehead> signals a bit toppy
[10:53] <+Risk> TF is the only 1 that made a HH (15min)
[10:53] <+pat255> out b/e on S
[10:53] <+pat255> paper
[10:54] <+codehead> short YM 10818 <paper>
[10:55] <+Risk> Shorts TF @ 705.5 «« simulator »»
[10:56] <+Risk> Covered all TF Short @ 705.5 --> 0 «« simulator »»
[10:56] <+codehead> exit Ym +8 half <paper>
[10:58] <+codehead> 6 tick stop on remainder <paper>
[10:58] <+codehead> out -6 Ym on remainder
[10:59] <+codehead> won't stay down long enough for the big frame to completely roll over
[10:59] <+codehead> sitll ifffy
[11:00] <+xtractor> shorts TF 706.8
[11:00] <+codehead> short 1c YM 10815 <paper>
[11:00] <+Risk> volume is fairly light but UpVol is 5x DnVol
[11:01] <+codehead> exit YM -5 <paper>
[11:01] <+Risk> Long TF @ 707 «« simulator »»
[11:02] <+Risk> Exited 1/2 TF Long @ 707.5 --> + 0.5 «« simulator »»
[11:02] <+Risk> Exited Remainder TF Long @ 708 --> + 1 «« simulator »»
[11:03] <+Risk> what a DO-DO am I. chickened out in a sim trade. What will happen when it's real $$$ ?? :))
[11:03] <Time4now> faster heart rate
[11:03] <+codehead> sweaty palm
[11:03] <+Risk> any faster and I will set a world record
[11:04] <+Risk> Shorts TF @ 707.5 «« simulator »»
[11:05] <+Risk> Covered 1/2 TF Short @ 707 --> + 0.5 «« simulator »»
[11:05] <+Risk> Covered Remainder TF Short @ 707 --> + 0.5 «« simulator »»
[11:07] <+Risk> so now only ES is the 1 that did not make a HH
[11:08] <+codehead> YM tapped yesty hod
[11:09] <+codehead> might be able to short that, was tempted
[11:09] <+codehead> but seemed like a sucker play
[11:09] <+codehead> would have been an entry tho
[11:09] <+codehead> oops, meant that in private room lol
[11:10] <+Risk> which group as a whole has a higher trading vol. SP500 or the DOW?
[11:10] <+Risk> dollar wise
[11:10] <+Risk> not number of shares
[11:10] <+codehead> futs?
[11:10] <+Risk> no
[11:10] <+Risk> the group
[11:10] <+codehead> dow a much smaller number of stocks
[11:10] <+codehead> much much
[11:11] <+codehead> more than an order of magnitude
[11:11] <+Risk> yes but DOW is much higher capitalization
[11:11] <+codehead> oh dollars
[11:11] <+Risk> y
[11:11] <+codehead> i dunno, i'd still guess s&p
[11:14] <+codehead> maybe not tho... dow has some biggies
[11:14] <+codehead> in fact... that might be probably not--anyway, why?
[11:15] <+codehead> really should have taken the Ym double top, noted that the short frame signal was rolling to the downside
[11:16] <+xtractor> covers part TF 705.8 +1
[11:17] <+Risk> just trying to c whether the influence of the DOW stocks is meaningful relative to the SP $ wise
[11:17] <+xtractor> covers part TF 704.8 +2
[11:17] <+codehead> naw, back to my original guess, i sitll think s&p must be larger, started thinking abotu who was in it
[11:17] <+codehead> but i can't find numbers
[11:18] <+codehead> oil very sharp dump
[11:18] <+xtractor> covers part TF 703.8 +3
[11:19] <+pat255> vn X
[11:19] <+Risk> my idea is that if the SP is much larger that the other indexes then if the SP does not make a higher high (which happened now) than the other indexes will follow
[11:19] <+pat255> geez all paper trades did not make much ..
[11:19] <+Risk> again @704
[11:19] <+codehead> s&p doesn't always lead
[11:20] <+codehead> for instance, sometimes the tech-heavy naz leads
[11:20] <+codehead> depends on what sectors qare moving
[11:20] <+Risk> no but if it is a HEAVIER WEIGHT than ......
[11:21] <+codehead> ?
[11:21] <+xtractor> risk...you are looking for divergences and yes sometimes you will make money but most of the time you will lose with divergences imo
[11:21] <+pat255> agree X ...div are useless
[11:21] <+xtractor> covers all TF 703.5 +3.3
[11:22] <+pat255> vn
[11:22] <+Risk> I did a lot of divergence back testing and by itself it did not get any promising results but I am trying to use it as confirmation not as a leading signal
[11:22] <+codehead> nice
[11:22] <+codehead> don't bother, if you are looking for divergences between indexes
[11:22] <+Risk> price levels r much more important
[11:23] <+codehead> i mean, how are you going to trade it? if naz is strong and es is weak, you going to short the strong one?
[11:23] <+Risk> my charts r CLEAN now :) no indicators except for a 20 EMA
[11:23] <+codehead> Al Brooks usual 5 min chart, 20ma--nothing else
[11:23] <+codehead> candles
[11:24] <+Risk> i have his book. this book is the worst written I have ever read but the information is priceless
[11:25] <+xtractor> once you use tick charts, you will never go back to time charts imo
[11:26] <+xtractor> buys TF 703.5
[11:27] <+pat255> S tick same as range charts?
[11:27] <+codehead> i've been using tick charts for past few months
[11:27] <+codehead> i agree
[11:27] <+Risk> 1 min charts convey VISUALLY the same information as - let's say - a 20TICK chart (TF) so the jury is out on the TICK chart :)
[11:27] <+pat255> X i mean
[11:27] <+codehead> no
[11:27] <+codehead> tick meanign number of transactions
[11:27] <+Risk> ???
[11:27] <+codehead> (of any size)
[11:27] <+xtractor> range and tick different but still better than time
[11:28] <+Risk> yes but it is a FIXED # of transactions per candle
[11:28] <+pat255> k ty
[11:28] <+codehead> yeah, ticks charts even make sense int eh off hours
[11:28] <+codehead> btw, can't use IB data feed for tick charts
[11:28] <+Risk> so I don't understand the benefit
[11:28] <+codehead> they aggregate
[11:28] <+codehead> the benefit is the signals aren't skewed by periods of heavy trading versus light
[11:29] <+xtractor> if your data vendor does not supply tick by tick data, you can use volume charts
[11:29] <+codehead> so when you get high volume, you get the signals sooner
[11:29] <+codehead> e.g., you don't ahve to wait for 5 min bar to complete
[11:29] <+codehead> yes, what x said
[11:30] <+Risk> i just looked @ a 1000 vol chart and compared it to a 1 min
[11:30] <+codehead> if you use IB feed, go with volume
[11:30] <+xtractor> could have 100 candles in a 5 min period on tick
[11:30] <+Risk> the Peaks and Troughs are equally visible in both
[11:30] <+xtractor> on high volume
[11:30] <+codehead> risk: if you are used to 5 min bars... then take an average day, pick a tick chart size that gives you about the same number of bars
[11:30] <+codehead> then compare the signals
[11:31] <+Risk> i use 1 & 3 min
[11:31] <+codehead> you'll find that strong moves signal you much quicker
[11:31] <+codehead> 1 min is problematic to trade off of, i think
[11:31] <+codehead> useful for looking at volume
[11:32] <+codehead> others may disagree and have good methods with them
[11:32] <+codehead> i just mean in general--my friends who use moving averages and trade off 1 min charts constantly getting fooled
[11:33] <+codehead> constantly praying to get out plus a tick after taking heat with a bad entry
[11:34] <+codehead> (not seeing the big picture)
[11:35] <+Risk> it's good that we have so many options. gives us all a fair chance @ making it
[11:35] <+codehead> anyway, i think you use 1 min because you can't get in a move quick enough otherwise, but tick or volume charts fix that
[11:36] <+xtractor> sells part TF 704.5 +1
[11:42] <@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
[11:45] <+xtractor> sells part TF 705.5 +2
[11:51] <+xtractor> sells all TF 703.9 +0.4
[11:53] <+pat255> X how can one avoid vol spikes ...that is one area i get stopped often
[11:55] <+pat255> anyone else has any idea ...enter a trade a spike & stop taken out
[11:56] <+pat255> even 2 pt stop on es gets blown
[11:57] <+xtractor> if you are getting stopped out consistently, your stops are probably too small
[11:58] <+pat255> used to have 1 pt on TF now don t trade Tf keep 2 pts on ES now
[11:58] <+xtractor> or your entries are towards the end of a move
[11:59] <+pat255> prolly will watch you & N finetune needed ..
[11:59] <+pat255> thks for your comments
[11:59] <+xtractor> to me a 2pt stop on es is small
[11:59] <+pat255> i c..
[12:02] <+xtractor> i know there is a push from system sellers to use small stops sold as lower risk but if you get stopped out alot, those small stops add up
[12:02] <+pat255> y so true
Image
[12:04] <+xtractor> anyway...just my opinion...your milage may vary :)
[12:04] <+pat255> thks X
[12:05] <JimL> X, see pm
[12:09] <+pat255> looks s here ?
[12:12] <+pat255> was wrong on S
[12:14] <+Risk> depends on what time frame u r talking about
[12:14] <+Risk> and what your target is
[12:15] <+Risk> me , I know noting
[12:15] <+pat255> thot move extended but ...it was quick 1 pt profit or lose
[12:20] <+pat255> k guys back to office ty all
[13:05] <MrYinYangTrader> good afternoon ppl
[13:07] <+Risk> hi
[13:09] <@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
[13:28] <+Risk> Long TF @ 709.1 «« simulator »»
[13:29] <+MrYinYangTrader> Shorts TF @ 709.50
[13:29] <+Risk> Exited 1/2 TF Long @ 709.5 --> + 0.4 «« simulator »»
[13:29] <+Risk> Exited Remainder TF Long @ 709.7 --> + 0.6 «« simulator »»
[13:31] <+Risk> rrrrrrrrrrrrrr. no staying power
[13:31] <+MrYinYangTrader> these buy side hft machines are pissing me off :p
[13:31] <+Risk> maybe it's the PPT
[13:32] <+MrYinYangTrader> yea.. i betcha they use htf to execute their trades
[13:32] <+MrYinYangTrader> the tf have almost rally 75points from last week low
[13:32] <+MrYinYangTrader> amazing.
[13:33] <+Risk> as far as I understand HFT systems make money if there is no difference between their entry and exit price
[13:33] <+Risk> even if
[13:34] <+codehead> short NQ 1970.00 <paper>
[13:34] <+Risk> they get some kind of a rebate from the exchanges for providing liquidity (wink wink)
[13:34] <+codehead> front running a little
[13:34] <+codehead> exit half NQ +1.50 <paper>
[13:35] <+MrYinYangTrader> yea but i heard most htf machines are buy side bias
[13:35] <+MrYinYangTrader> its easier for them to execute the strat rather then shorting
[13:36] <+MrYinYangTrader> i doesn't matter to me, i've switched to the highertimeframe with bigger stop and profit target in the past few days due to the big swings.
[13:36] <+MrYinYangTrader> i just get pissed off when i look at the lower timeframe :p
[13:38] <+codehead> exit NQ remainder +2.00 <paper>
[13:38] <+codehead> tho longer frame is rolling over a bit
[13:38] <+codehead> still upward bias strong overall
[13:39] <+MrYinYangTrader> we going to roll over... just a matter of when
[13:40] <+Risk> we still have the gap from 2 days ago
[13:40] <+Risk> don't like unfilled gaps
[13:40] <+MrYinYangTrader> correcto
[13:40] <+MrYinYangTrader> not a big gap like that
[13:41] <+Risk> it's more like a sink hole
[13:41] <+Risk> which are interesting in nature but not in trading
[13:41] <+codehead> have gaps above as well ;-)
[13:42] <+codehead> 1198.50 ES
[13:42] <+codehead> for instance
[13:43] <+codehead> can't really trade based on large gaps
[13:43] <+MrYinYangTrader> small gaps can be look at differently.... some ppl call a gap when the next day bar formation h/l doesn't even fill yesterday h/l, while other looks at open/close gaps.. i thinkg the h/l big gaps are the major ones usually that are revisited
[13:44] <+MrYinYangTrader> cl selling off big time!!
[13:44] <+Risk> I'll try and dig up a study I made on SPY over a 10 year period that looked at all kinds of gaps
[13:46] <+codehead> btw, when mkt bottomed last year--we still have a gap down there
[13:46] <+codehead> how would you like to have held a short waiting for that gap to close?
[13:46] <+codehead> 901.50
[13:46] <+codehead> ES
[13:46] <+MrYinYangTrader> that's all about risk management again :p
[13:47] <+MrYinYangTrader> if you were GS and JPM,, you can hold it forever if you like bc you got taxpayer money
[13:47] <+MrYinYangTrader> :)
[14:00] <+xtractor> JimL> sorry... my pm's are blocked
[14:00] <+xtractor> shorts TF 710.9
[14:01] <+xtractor> shorts ES 1166
[14:22] <+Risk> almost the repeat of yesterday. slow creep up and then a crash except that 2day volume is lower
[14:32] <+xtractor> shorts TF 713.9 add
[14:33] <+xtractor> shorts 1169 add
[14:34] * +PirateTrader Short ES 1168.50 stop 71
[14:39] <@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
[14:40] * +PirateTrader cover 1/2 ES 1167.50 +1 too boring; BE rest
[14:41] <+xtractor> cover all ES 1167.5 +0
[14:41] <+xtractor> avg
[14:43] * +PirateTrader out rest of ES short at breakeven 8.5
[14:45] <+xtractor> cover all TF 714.4 -2 avg
[14:57] <+JimL> xtractor, can you unblock you PM? If not, maybe WRB will let me ask 2 questions @ the end of the trading day.
[15:04] <@wrbtrader> Long TF @ 714.90 -> small size
[15:04] <@wrbtrader> just got back about 5mins ago
[15:04] <@wrbtrader> 3 only
[15:05] <@wrbtrader> intuition trade
[15:11] <@wrbtrader> Exited all TF Long @ 714.50 --> - 0.4
[15:14] <@wrbtrader> Long TF @ 714.80 -> small size
[15:14] <@wrbtrader> 3 only
[15:17] <@wrbtrader> Exited all TF Long @ 714.70 --> - 0.1
[15:19] <@wrbtrader> Shorts TF @ 714.40 -> small size
[15:19] <@wrbtrader> 3 only
[15:25] <@wrbtrader> Covered all TF Short @ 714.30 --> + 0.1
[15:27] <@wrbtrader> Long TF @ 715.10 -> small size
[15:27] <@wrbtrader> 3 only
[15:28] <@wrbtrader> 1.2 range
[15:28] <+xtractor> very tight and very slow :(
[15:33] <@wrbtrader> Exited all TF Long @ 714.20 --> - 0.9
[15:33] <@wrbtrader> low or that 1.2 range
[15:33] <@wrbtrader> or = of
[15:33] <+PirateTrader> flat and no idea for the close
[15:33] <@wrbtrader> Shorts TF @ 713.70 -> medium size
[15:34] <@wrbtrader> 4 only
[15:41] <@wrbtrader> Covered all TF Short @ 713.40 --> + 0.3
[15:41] <+xtractor> buys TF 713.5
[15:42] <@wrbtrader> back at prior support that's now resistance
[15:42] <+xtractor> sells part TF 714 +0.5
[15:43] <@wrbtrader> Long TF @ 713.90 -> medium size
[15:43] <@wrbtrader> 4 only
[15:45] <+xtractor> sells part TF 714.5 +1
[15:48] <@wrbtrader> We're getting closer and closer to the "4pm est rush hour traffic" report.
[15:49] <@wrbtrader> tightening stop
[15:50] <+xtractor> sells part TF 714.5 +1
[15:53] <+xtractor> sells all TF 715 +1.5
[15:54] <@wrbtrader> Exited 1/4 TF Long @ 715.30 --> + 1.4
[15:55] <+PirateTrader> nice trades guys
[15:55] <@wrbtrader> trail @ profit
[15:58] <+xtractor> csco earnings after close
[16:01] <@wrbtrader> Exited Remainder TF Long @ 714.30 --> + 0.4
[16:02] <+xtractor> guess no shorts left to cover at eod
[16:09] <@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
[16:15] <+JimL> xtractor you mentioned you use a single tick-based chart with proprietary candle-coloring to trade. what is the basic tick size for the chart?
[19:22] <+xtractor> jimL> each contract i trade has a different tick setting based on the volume and characteristic of that contract...you need to experiment to find what works best for you...many traders use fib #s as a basis for the number of ticks per bar.
[19:31] <+JimL> thanks i got it. what is the BASIC methodolgy, paradigm, or concept that you find works best? i know you have a proprietary method, but is it based on market profile, volume cumlative delta, trendlines, fib's, or candlepatterns?
[19:33] <+JimL> point in a paradigm direction & i'll figure it out myself. my entries (except for your top/bottom reversals) are very near your's, but I exit much sooner. so i'm missing something in the methodolodogy/paradigm
[19:33] <+JimL> point me in a general direction
[19:47] <+xtractor> none of the above...thousands of hours of screen time and keeping it simple contrary to what most will tell you...even if i told you my exact system it wouldn't help you in your trading because it would have no meaning to you...the holy grail is there is no holy grail other than keeping it simple and design a system that you know inside and out...that's the best i can offer you.
[20:39] <@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
Session Close: Thu May 13 00:00:00 2010

-------------------------

#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=5

The purpose of #FuturesTrades is that it's designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day.

Further, members are not obligated to educate nor help other members but members are encourage to ask questions about any trades or market commentaries that's posted by others.

In addition, 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

Commonly discussed trading instruments from futures, exchange traded funds and forex currencies:

Image CME Emini Futures EMD, ES and NQ

Image ICE Emini TF Futures (formerly CME ER2)

Image CBOT mini-sized Dow Futures YM

Image Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Image Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz

Image Euronext Futures FTSE-100 and CAC-40

Image CME Futures EuroFX 6E and EC

Image Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB

Image Forex Currencies GBPUSD, EurUsd, EurYen and UsdCdn

Image Exchange Traded Funds VXX, DIA, IWM, QQQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD

Image NYMEX Energy Futures Light Crude Oil CL, e-miNY QM and Natural Gas NG

Image COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

Image Hang Seng Index Futures HSI and mini-Hang Seng MHI

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 private chat rooms called #VolatilityTradingTSL or #SwingTradingTSL and they're not allowed to do such in #FuturesTrades.

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)
Image@ http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


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