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 Post subject: June 9th Wednesday - Futures, ETFs and Forex Currencies
 Post Posted: Thu Jun 10, 2010 9:45 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 Jun 09 09:23:03 2010
Session Ident: #FuturesTrades
[09:23] * Now talking in #FuturesTrades
[09:23] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:23] <@wrbtrader> Good morning all
[09:23] <pat255> gm N
[09:24] <+pat255> on H 1064 L 1041
[09:24] <+pat255> on ES
[09:24] <Time4now> Morning
[09:25] <+pat255> for spx it's 1078 target
[09:28] <+pat255> EIA Petroleum Status Report 10am
[09:29] <+pat255> 10:30 am
[09:29] <drt> gm everyone
[09:42] <Inertia> gm
[09:43] <+Inertia> news in 12 min
[09:43] <+Inertia> Bernanke talks in 12 min as well
[09:46] <+Inertia> Shorts TF @ 621.4 «« simulator »»
[09:47] <+pat255> L 1802 NQ
[09:47] <+pat255> paper
[09:47] <+Inertia> Covered 1/2 TF Short @ 620.9 --> + 0.5 «« simulator »»
[09:47] <+pat255> out -2
[09:47] <+Inertia> Covered Remainder TF Short @ 620.4 --> + 1 «« simulator »»
[09:50] <+pat255> gez tay may close the gap
[09:51] <+pat255> close stops are deadly ..need 5 pt stop on nq
[09:57] <+pat255> bernanke in 3 minutes
[09:57] <+Inertia> fixed stops will kill u
[09:57] <+pat255> y
[09:57] <+pat255> Wholesale inventories in 4 minutes... stupid news, but....
[09:58] <+pat255> in 1 min
[09:59] <+Inertia> news r not stupid - only the people that interpret them
[10:00] <+Inertia> actually I should say, some of the people, who try to interpret them
[10:00] <+Inertia> has any1 read The Black Swan?
[10:01] <+Inertia> [10:01:04] <iNews> 10:01ET ALERT: Recovery can survive coming fiscal drag: Bernanke [MW]
[10:02] <+Inertia> http://federalreserve.gov/newsevents/te ... 00609a.htm
[10:02] <+Inertia> Text for ben speech
[10:02] <+Inertia> News r out
[10:03] <+Inertia> inventories r down
[10:03] <@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
[10:04] <+Inertia> which could b interpreted as good because people bought the excess or the news could be interpreted as bad because the wholesellers did not replenish their inventories because they see no demand
[10:04] <@wrbtrader> Long TF @ 621.60 -> medium size
[10:04] <@wrbtrader> 4 only
[10:08] <@wrbtrader> Exited all TF Long @ 620.80 --> - 0.8
[10:09] <@wrbtrader> Shorts TF @ 619.80 -> medium size
[10:09] <@wrbtrader> support failure...but it's a tough one
[10:09] <@wrbtrader> intuition trade
[10:11] <@wrbtrader> :(
[10:12] <@wrbtrader> Covered all TF Short @ 619.90 --> - 0.1
[10:14] <@wrbtrader> Long TF @ 619.80 -> medium size
[10:14] <@wrbtrader> 2 + 2
[10:15] <@wrbtrader> the second was an add
[10:16] <@wrbtrader> Exited 1/2 TF Long @ 621.20 --> + 1.4
[10:18] <@wrbtrader> Exited TF Long @ 622.60 --> + 2.8
[10:19] <@wrbtrader> Holding 1 contract remainder
[10:19] <@wrbtrader> trailing @ profit
[10:19] <+pat255> vn
[10:20] <+pat255> Crude inventories in :10.
[10:31] <+Inertia> oil inv down more than exp
[10:32] <+Inertia> so common sense would asume CL 2 go up ......??????
[10:33] * +Time4now short tf 622
[10:35] <@wrbtrader> Exited Remainder TF Long @ 621.80 --> + 2
[10:36] * +Time4now out 620.7
[10:37] <+Time4now> early exit, i just wanted to recoup losses
[10:37] <+pat255> vn
[10:37] <+pat255> no harm in that
[10:40] <+Time4now> now we are seeing the harm
[10:40] <+Time4now> sad face
[10:41] <+Inertia> :(
[10:41] <+Inertia> another train will come
[10:42] <+Inertia> since the news of oil inv came out - oil has been declining. what does that say about interpreting news?
[10:42] <+Inertia> nothing
[10:44] <@wrbtrader> Long TF @ 619.60 -> small size
[10:44] <@wrbtrader> 2 only
[10:45] <@wrbtrader> Exited all TF Long @ 620.90 --> + 1.3
[10:46] <+pat255> vn
[10:48] <@wrbtrader> Long TF @ 623.00 -> small size
[10:48] <@wrbtrader> 2 only and intuition
[10:48] <@wrbtrader> not going to hang around too long in this trade
[10:49] <@wrbtrader> Exited all TF Long @ 623.10 --> + 0.1
[10:50] <@wrbtrader> Long TF @ 623.00 -> small size
[10:50] <@wrbtrader> 3 only
[10:50] <@wrbtrader> same as prior trade
[10:51] <@wrbtrader> volatility still contracting
[10:51] <@wrbtrader> volatility spike
[10:54] <@wrbtrader> Exited 2/3 TF Long @ 624.10 --> + 1.1
[10:54] <@wrbtrader> trailing @ profit
[10:54] <+pat255> geez L pusing now
[10:54] <+pat255> vn N
[10:56] <@wrbtrader> Going to take a break after I close this remaining contract.
[10:56] <@wrbtrader> Exited Remainder TF Long @ 623.50 --> + 0.5
[10:57] <@wrbtrader> wrbtrader_away
[10:57] * wrbtrader is now known as wrbtrader_away
[11:05] <+Time4now> I'd like to know how to trade these sorts of breakouts
[11:06] <Sidhartha> wrbtrader has some good ideas on those... support & resistance breaks basically
[11:07] <+Sidhartha> you won't get them all, but some do set up with a high % probability of success
[11:07] <+Time4now> Have you purchased any of his trade plans?
[11:08] <+Sidhartha> yeah... wrbtrader's work has formed the basis of my trading... from there it's given me a very solid foundation to build my own stuff from
[11:08] <+Sidhartha> but it's a lot of work... I will be honest I say I've basically put a solid year of my life into it
[11:08] <+Time4now> I was thinking of getting the VTR
[11:09] <+Time4now> If my losing streak keeps up, but lately i've done ok
[11:09] <+Sidhartha> what wrbtrader can't teach you how to do, is to actually manage a trade a real time... i.e. have excellent trade management... if your trade management isn't good, you can forget about making money no matter what your strategy...
[11:09] <+Sidhartha> that's my view
[11:10] <+Time4now> I agree
[11:11] <+Sidhartha> I don't post my trades on here for two reasons... 1. I find it extremely distracting time wise... 2. the posting of live trades can actually skew my descision making processes...
[11:11] <+Sidhartha> maybe in another 6 months I'll get over that
[11:12] <+Time4now> I post off and on
[11:12] <+Time4now> just a bit difficult
[11:33] <@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
[13:00] <@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
[13:33] <@wrbtrader_away> Shorts TF @ 626.70 -> small size
[13:33] <@wrbtrader_away> 2 only
[13:37] <@wrbtrader_away> Covered all TF Short @ 626.60 --> + 0.1
[13:42] <+Inertia> Long TF @ 626 «« simulator »»
[13:44] <+Inertia> Exited 1/2 TF Long @ 626.5 --> + 0.5 «« simulator »»
[13:45] <+Inertia> Exited Remainder TF Long @ 627 --> + 1 «« simulator »»
[13:48] <+Inertia> Long TF @ 627 «« simulator »»
[13:49] <+Inertia> i was a piggy
[13:52] <+Inertia> Exited 1/2 TF Long @ 627.3 --> + 0.3 «« simulator »»
[13:52] <+Inertia> Exited Remainder TF Long @ 627.1 --> + 0.1 «« simulator »»
[13:52] <+Inertia> i still think it will go up but i should have not taken the trade
[13:52] <+Inertia> no real signal
[13:53] <+Inertia> just INTUITION :)
[13:56] <+Inertia> too much thinking is detrimental to your financial health (A message from the Trading General)
[14:03] * +Time4now long tf 627.4
[14:03] * +Time4now out be
[14:03] <+Time4now> fast
[14:04] <+Time4now> missed the short
[14:06] <@wrbtrader_away> Shorts TF @ 625.60 -> small size
[14:06] <@wrbtrader_away> 3 only
[14:06] <@wrbtrader_away> intuition
[14:09] <@wrbtrader_away> trade error but will hold
[14:09] <@wrbtrader_away> lucky so far
[14:13] <@wrbtrader_away> Covered all TF Short @ 625.50 --> + 0.1
[14:30] <@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
[14:54] <+Time4now> I almost allways get my stops hit 1 tick below the actual stop
[14:54] <+Time4now> is that normal?
[14:56] <+Inertia> it varies with me
[14:57] <hp101> I think it depends on the trading instrument. You shouldn't have that problem if you trade the ES for example
[14:58] <+Inertia> a bias is a dangerous thing. I was sure we are going up so I went long (real) and took a loss. Then went short and got out of a great trade because I still thought that we r going up :((
[14:58] <+Inertia> in sim I do this very rarely
[14:59] <+Time4now> Ok, i thought it might be my broker
[14:59] <+hp101> whats your broker?
[15:00] <+Time4now> Global futures
[15:00] <+hp101> I'm using IB and I have the same problem as you (Trading `TF`)
[15:01] <+Time4now> that's too bad
[15:01] <+Time4now> We will just have to get used to it
[15:01] <+hp101> another reasan can be the stock exchange...meaning NYBOT
[15:02] <+hp101> I don't know exactly but if you use 'es' as trading instrument it should be much better with the executions!
[15:03] <+Time4now> Well I've been trying to get used to TF so ES isn't an option for me right now
[15:03] <+Time4now> but I still watch it
[15:03] <+hp101> ok
[15:08] <+Inertia> r u useing market or limit/stop orders?
[15:09] <+Time4now> just a limit
[15:09] <+hp101> market stop orders
[15:09] <+hp101> oh sry ;)
[15:11] <+Inertia> how long b4 the execution r u placing the orders?
[15:12] <+Time4now> that depends on how long it takes me to get stopped out
[15:13] <+Inertia> seriously. on average
[15:13] <+Time4now> idk 2 mins
[15:13] <+Time4now> 1 min
[15:14] <+Inertia> since the orders r in a cue , I think that if you are too close to the execution time you are almost equal to a market order and somone can low ball you
[15:19] <+Time4now> Just did a bit of reading, stop orders turn into market orders which are then filled at the best possible price
[15:21] <+Inertia> http://www.interactivebrokers.com/en/tr ... ntity=inst
[15:21] <+Inertia> 4 an explanation of STP orders
[15:26] <+Inertia> I really screwed up 2day by not taking advantage of this move
[15:28] <+Inertia> I I am not upset that I missed the actual move itself. I am upset that I missed it because of my bias. Have to work on that but I don't know what 2 do about this problem
[15:30] <codehead> i hear ya
[15:30] <+codehead> i've noticed that the really good traders have a bias
[15:30] <+Inertia> I felt physically uncomfortable
[15:30] <+codehead> but can change their bias in a heartbeat
[15:30] <+Inertia> Mark is great in changing his bias
[15:31] <+codehead> all the good traders i know
[15:31] <+codehead> they might say, "we're going up, close hod"
[15:32] <+codehead> then later same day, "we're going to lose it all and make a new low"
[15:32] <+codehead> but the key is they trade it that way
[15:32] <+codehead> NQ was pretty obvious, had big orders in place 1779.75 and 1780.00
[15:33] <+codehead> which just bought all the dump with $TICK in neg extreme
[15:33] <+codehead> and held
[15:33] <+codehead> i'd already decided no trading this junk, i'm a little in the plus for the day and wanted ot stay that way more than i wanted a scalp
[15:34] <+codehead> but, i think you agree...
[15:34] <+codehead> you and i have a problem listening to such people
[15:35] <+codehead> because, for instance, i'll see the strength deteriorating, some bearish signs...
[15:35] <+codehead> but be reluctant to short because my mentor had said we'd close hod, etc
[15:35] <+codehead> next thing i know, he's short and i dont' want to chase, having passed up a much better entry
[15:36] <+codehead> that's why i didn't log on earlier today, btw, just wanted to listen to myself
[15:46] <+Inertia> sorry. had 2 deal with something here
[15:46] <+Inertia> yes i agree
[15:46] <@wrbtrader_away> Long TF @ 616.30 -> small size
[15:46] <@wrbtrader_away> 3 only
[15:46] <@wrbtrader_away> just got back
[15:46] <+Inertia> btw - recovered most of my losses from 2day in this las leg down so between yesterday and 2day I am up :)
[15:46] <+Inertia> not much but up
[15:47] <+Inertia> anyway, I don't look at mirc for the same reason
[15:47] <+Inertia> I don't want to be biased
[15:48] <@wrbtrader_away> Exited all TF Long @ 615.80 --> - 0.5
[15:48] <+Inertia> I generate my own biases well enough :)
[15:49] <@wrbtrader_away> Long TF @ 616.00 -> small size
[15:49] <@wrbtrader_away> 3 only
[15:49] <@wrbtrader_away> intuition
[15:50] <@wrbtrader_away> Exited all TF Long @ 615.30 --> - 0.7
[15:51] <+Inertia> 1000 looks more and more a viable target
[15:51] <+Inertia> ES
[15:51] <@wrbtrader_away> Long TF @ 615.20 -> medium size
[15:51] <@wrbtrader_away> 4 only
[15:52] <@wrbtrader_away> :(
[15:52] <+codehead> sellers really pounding the stops
[15:53] <+codehead> pretty divergent
[15:53] <+codehead> just getting pushed down
[15:54] <+codehead> sometimes you get a cash close bounce on these, as they cover
[15:56] <@wrbtrader_away> Exited all TF Long @ 615.20 --> 0
[15:56] <@wrbtrader_away> geeesh
[15:57] <@wrbtrader_away> Long TF @ 616.20 -> medium size
[15:57] <@wrbtrader_away> 4 only
[15:57] <@wrbtrader_away> same trade
[15:58] <+codehead> hm, rollover tomorrow huh
[16:00] <@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
[16:01] <@wrbtrader_away> trailing @ profit
[16:04] <+Time4now> gb
[16:06] <@wrbtrader_away> volatility just died
[16:07] <@wrbtrader_away> May get very lucky in one last push if the push is to the upside and not downwards on the next small spike
[16:11] <@wrbtrader_away> don't think I'm going to get my 619 target :(
[16:12] <@wrbtrader_away> Exited 1/2 TF Long @ 618.30 --> + 2.1
[16:12] <+codehead> nice
[16:14] <@wrbtrader_away> Exited Remainder TF Long @ 618.50 --> + 2.3
[16:23] <@wrbtrader_away> Missed a lot of decent trading today but manage to catch one decent intuition trade at the end.
[16:23] <@wrbtrader_away> Take care all and see all tomorrow
[17:30] <@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: Wed Jun 09 17:47:39 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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