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Session Start: Thu Oct 28 09:08:41 2010
Session Ident: #FuturesTrades
[09:08:41] * Now talking in #FuturesTrades
[09:08:41] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:09:37] <Dv84> hey morning
[09:15:28] <+Dv84> 2 trades so far today
[09:15:31] <+Dv84>
http://screencast.com/t/7fpzZY8HU[09:15:34] <+Dv84> on GC
[09:21:23] <@wrbtrader> Good morning all...
[09:21:44] <@wrbtrader> Another big gap to the upside at the opening bell it will be
[09:23:49] <Time4now> that second one was quite the hold
[09:26:56] <+Dv84> time4 yea
[09:27:11] <+Dv84> not really tho
[09:27:21] <+Dv84> never went over what -0.9 if i remember
[09:27:31] <+Time4now> ahh
[09:27:48] <+Time4now> just looks rough then
[09:27:59] <+Dv84> ohhh trust me it was
[09:28:10] <+Dv84> it always is when you move your hard stop like a idiot
[09:28:16] <drt>
all
[09:28:19] <+Dv84>
[09:33:51] <+Dv84> Short GC 1333.9
[09:34:38] <+Dv84> 1 Closed 1333.4
[09:34:52] <+Dv84> 2nd closed at 1334.0
[09:35:01] <+Dv84> total for postition: +6
[09:36:00] <+Dv84>
http://screencast.com/t/yUqVtooF[09:36:16] <@X> #FuturesTrades Info -> Chat room for traders of Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) and Forex Currencies
[09:42:43] <+Dv84> dunno why the post script doesnt have GC and CL ..
[09:43:15] <+Dv84> Shorts TF @ 706.00 «« Scalp »»
[09:43:40] <+Dv84> well waiting for it
[09:44:30] <+Dv84> opened
[09:45:31] <+Dv84> Covered all TF Short @ 706.8 --> - 0.8 «« Scalp »»
[09:45:39] <+Dv84> that turned around on me hard and fast
[09:45:53] <+Dv84> i will go in again if it does it again..
[09:48:48] <@wrbtrader> Emini TF inside of a WRB Zone
[09:49:01] <@wrbtrader> On the regular session chart
[09:49:07] <+Dv84> 2 of at TF short again from 706.0 to 705.5 and 705.4
[09:50:44] <@wrbtrader> Long TF @ 705.40 -> small size
[09:50:47] <@wrbtrader> 3 only
[09:50:50] <+Dv84>
http://screencast.com/t/GhrBjk2z[09:53:07] <+Time4now> charting software not in sync... so lame
[09:53:44] <@wrbtrader> tighten stop/loss protection
[09:57:14] <@wrbtrader> Exited 1/3 TF Long @ 706.50 --> + 1.1
[09:58:06] <@wrbtrader> Exited Remainder TF Long @ 705.50 --> + 0.1
[09:58:23] <@wrbtrader> fast rollover south
[09:59:13] <+Dv84> sell limit to enter short TF @ 705.0 «« Scalp »»
[09:59:27] <@wrbtrader> I'm still bullish until TF goes lower by about 2 points
[10:00:25] <@wrbtrader> Long TF @ 705.30 -> medium size
[10:00:29] <@wrbtrader> 4 only
[10:00:33] <+Dv84> still waiting to get filled
[10:00:39] <@wrbtrader> volatility increasing
[10:00:42] <+Dv84> yea
[10:03:12] <@wrbtrader> there's that rollover again after it got above 706.00
[10:04:51] <+Dv84> Short TF @ 705.0 «« Scalp »»
[10:05:15] <@wrbtrader> Exited all TF Long @ 705.00 --> - 0.3
[10:05:35] <+Dv84> Covered 1/2 TF Short @ 704.5 --> + 0.5 «« Scalp »»
[10:05:35] <Sidhartha> no support in oil
[10:06:19] <+Dv84> Covered Remainder TF Short @ 704.9 --> + 0.1 «« Scalp »»
[10:07:04] <@wrbtrader> Long TF @ 705.30 -> small size
[10:07:09] <@wrbtrader> 3 only
[10:07:16] <@wrbtrader> same trade as before
[10:07:26] <@wrbtrader> less contracts because volatility is not as good
[10:08:20] <@wrbtrader> Long TF @ 705.40 -> Add
[10:08:27] <@wrbtrader> volatility increasing
[10:08:28] <+Dv84> i think you would have better chance longing crude right now
[10:09:14] <+Sidhartha> rolled over again
[10:09:22] <@wrbtrader> another chop down south
[10:11:00] <+Dv84> Shorts TF @ 704.2 «« Scalp »»
[10:11:07] <+Dv84> wow nice
[10:11:15] <@wrbtrader> Exited all TF Long @ 703.60 --> - 3.5
[10:11:26] <+Dv84> well both my targets got filled
[10:11:27] <+Dv84> heh
[10:11:45] <+Dv84> Covered 1/2 TF Short @ 703.7 --> + 0.5 «« Scalp »»
[10:11:55] <@wrbtrader> Shorts TF @ 703.10 -> medium size
[10:11:59] <+Dv84> Covered Remainder TF Short @ 709.2 --> - 5 «« Scalp »»
[10:12:04] <+Dv84> wtf
[10:12:07] <@wrbtrader> 4 only
[10:12:23] <+Dv84> how did i get -5
[10:12:36] <+Time4now> 709.2
[10:12:36] <+Dv84> ohhh wrong number
[10:12:50] <+Dv84> Covered Remainder TF Short @ 703.2 --> + 1 «« Scalp »»
[10:13:08] <+Dv84> still dont get what im doing wrong eh
[10:13:15] <+Dv84> ohh no nvm its right
[10:14:10] <+Dv84>
http://screencast.com/t/SxkP4dqYiU2[10:16:06] <+Dv84> wrbtrader nice hold !
[10:16:12] <@wrbtrader> Covered all TF Short @ 700.40 --> + 2.7
[10:16:15] <+Dv84> got your money back
[10:29:53] <+Dv84> CL 82.02 pending short
[10:32:19] <+Dv84> order filled
[10:32:42] <+Dv84> 1st target filled at 81.97 +5
[10:32:56] <+Dv84> 2nd target filled at 82.01 +1
[10:33:51] <+Dv84>
http://screencast.com/t/VUp804OMwf[10:42:59] <+Dv84> another CL short for +5 and +1
[10:53:16] <+Dv84> limiting CL at 81.65 for short
[10:58:12] <+Dv84> stoped out -.8
[10:59:04] <+Dv84> i put another limit same price
[11:01:57] <+Dv84> closed all +1
[11:02:07] <+Dv84> not working for me here right now
[11:06:16] <@X> #FuturesTrades Info -> Chat room for traders of Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) and Forex Currencies
[11:25:00] <+Sidhartha> big spike in gold
[11:56:54] <@wrbtrader> ok...i'm back after some personal distractions here at home
[11:59:53] <@wrbtrader> Shorts TF @ 696.40 -> small size
[12:00:02] <@wrbtrader> 3 only
[12:00:34] <@wrbtrader> almost the same short as my prior short but this one is a late entry
[12:00:43] <@wrbtrader> by about 4 ticks
[12:01:13] <@wrbtrader> will use that as my mental stop
[12:04:40] <@wrbtrader> Covered all TF Short @ 696.90 --> - 0.5
[12:12:04] <@wrbtrader> new support developed
[12:16:32] <@wrbtrader> Long TF @ 697.40 -> small size
[12:16:38] <@wrbtrader> 2 only
[12:17:23] <@wrbtrader> volatility hasn't shown up...reason why I'm keeping the position size small
[12:20:26] <+Sidhartha> haven't seen much volatility since this morning
[12:28:25] <@wrbtrader> Exited all TF Long @ 696.60 --> - 0.8
[12:29:42] <+Sidhartha> oil been leading this market all day
[12:30:31] <@wrbtrader> I wonder if floor trader in Oil futures have deeper pockers than traders in the Eminis
[12:30:33] <@wrbtrader>
??
[12:30:39] <@wrbtrader> Anybody guess
[12:30:53] <@wrbtrader> pockers = pockets
[12:32:37] <+Sidhartha> pass... but i think they have deeper pockets than me
[12:33:17] <@X> #FuturesTrades Info -> Chat room for traders of Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) and Forex Currencies
[12:47:29] <@wrbtrader> Always a "guessing game" if the mid-day trading session with be a strong directional price movement of a low volatility trading range.
[12:47:56] <@wrbtrader> Worst...if you think it's in a low volatility tight range and walk away to take a break or do something personal...
[12:48:00] <+Sidhartha> very tough to make money is this nonsense... scalpers only market
[12:48:10] <@wrbtrader> That strong directional price movement shows up.
[12:48:38] <@wrbtrader> Last year I kepted track of such...
[12:49:20] <@wrbtrader> It was about even
[12:50:04] <+Sidhartha> what was...
50% chop... 50% a driectional movement...
[12:50:07] <@wrbtrader> This is an advantage auto traders have...they can have their computer trade while they are away from the computer
[12:50:40] <+Sidhartha> do you think it would be possible to automate your trading...
or just not realistic...
[12:50:58] <@wrbtrader> Not possible especially the "trade management"
[12:51:05] <@wrbtrader> as in the stuff after entry
[12:51:15] <@wrbtrader> Meant to say that anything can be automated...
[12:51:28] <@wrbtrader> However, if I were to automate...I would no longer be profitable
[12:51:47] <@wrbtrader> I would get killed by automation in my "trade management AFTER entry
[12:51:58] <+Sidhartha> why...
theoretically your decision making is rule based...
[12:52:22] <@wrbtrader> Just because it's a rule doesn't mean it can be automated.
[12:53:11] <+Sidhartha> why...
sorry you lost me on that one... if you're saying that your rules are based on fuzzy logic and very hard to define then I understand...
[12:53:48] <+Sidhartha> i.e. fuzzy logic = intuition.... roughly
[12:54:10] <@wrbtrader> I think your getting rules and codes mixed up
[12:54:19] <@wrbtrader> Not all rules can be coded.
[12:54:25] <@wrbtrader> All codes can be automated
[12:54:41] <@wrbtrader> trading is like a sport
[12:54:43] <+Sidhartha> ok. give me an example...
[12:55:25] <@wrbtrader> Quarterback knows the receiver is going to turn around an catch the ball as soon as the receiver gets 10 yards away...
[12:56:08] <@wrbtrader> The market shows up and gets a finger tip on the thrown football or the grass is slippery from earlier rain or the reciever runs the wrong route.
[12:56:25] <@wrbtrader> Thus, the rule is to throw the ball at 10 yards...
[12:57:26] <@wrbtrader> You can automate that but you can not ADAPT to a change that shows up because you don't know what that new variable (rain, finger tip, wrong route) will be.
[12:57:50] <@wrbtrader> Automation can not adapt as fast as the human mind
[12:58:24] <@wrbtrader> Human mind too complex to automate
[12:59:03] <+Sidhartha> well, you can... if you know a factor, then it can be coded... that's how factor models work.. that's how they predict weather, other chaotic systems... etc... that's how some of the quant guys doing black box trading operate...
[12:59:48] <@wrbtrader> I didn't say you CAN NOT automate.
[12:59:50] <Inertia> if that is the case with trading rules, how can one learn to trade based on rules supplied by another trader?
[12:59:55] <@wrbtrader> Anything can be automated
[12:59:58] <+Sidhartha> however, if you are saying that the effort required to code your trading knowledge wouldn't be worth the time and investment and may still not be as good as you... then I agree
[13:00:19] <@wrbtrader> I said my trading style after entry CAN NOT be automated
[13:00:32] <+Inertia> so the entry can?
[13:00:53] <+Sidhartha> more complex systems that your trading style post entry have been coded.
[13:01:25] <+Sidhartha> btw... I am playing devils advocate here to some extent...
[13:01:37] <@wrbtrader> Well...lets put it this way, many programmers (even a few quants) have said my trading style can not be automated...
[13:01:47] <@wrbtrader> Main reason is because I ADAPT too fast
[13:01:52] <+Sidhartha> I do believe systems can be coded... however I don't think it's worth the effort often...
[13:02:53] <+Sidhartha> take a head & shoulders pattern... you can code a computer to recognise them... but it's harder than you think... you could be coding for 2 years solid and still not cover all the various permutations...
[13:02:54] <@wrbtrader> Not sure this is a good example...
[13:03:14] <+Sidhartha> so you still wouldn't be happy after 2 years of coding when the eye can spot them in a second...
[13:03:18] <@wrbtrader> These robot design guys created a robot to shoot free throws
[13:03:20] <+Sidhartha> not worth the effort
[13:03:45] <@wrbtrader> The ball went up 500 times and made 500 baskets as soon as they got the system correct.
[13:04:09] <@wrbtrader> However, someone standing near the robot if that person jumps up and back down to the floor...
[13:04:27] <@wrbtrader> The robot couldn't compensate for the vibration.
[13:04:44] <@wrbtrader> The successful baskets dropped to around 30 %
[13:05:05] <@wrbtrader> Now...imagine a typical NBA basketball game...
[13:05:22] <@wrbtrader> Every body running around and jumping near the robot.
[13:05:32] <+Sidhartha> sure
[13:05:47] <+Sidhartha> not sure why that's a better example than a head & shoulders pattern
[13:07:14] <@wrbtrader> Lets put it this way, if everything could be automated and be profitable...
[13:07:21] <@wrbtrader> The markets will not work.
[13:07:25] <@wrbtrader> There needs to be a loser
[13:07:38] <+Sidhartha> anyway, as I've said for quite a while Mark, your trade management is a large part of your edge... and basically a large part of that skill is based on 'intution' or 'fuzzy logic' or whatever you want to call it... it's a great skill to have in your locker!
[13:08:18] <+Inertia> we had this discussion many times in the past. I will try again. Would u say Mark tha tin your report one will find everything they need to be a successful trader? this is by no means meant to put u on the spot
[13:08:48] <@wrbtrader> My anwer will always be the same...never change.
[13:09:03] <+Inertia> humor me
[13:09:06] <@wrbtrader> To be a successful trader...there's A LOT more to it than just trade signals.
[13:09:37] <@wrbtrader> Simple example, there are brokers out there charging $10 round trip.
[13:10:16] <@wrbtrader> A scalper with a high win rate will still lose because of that variable involving outrageous comission rate of $10 round trip
[13:10:42] <@wrbtrader> If the scalper fixes that...maybe his ISP connection isn't fast enough...
[13:11:05] <@wrbtrader> Then if the scalper fixes that...maybe he parties too much at night and can't think straight during trading
[13:11:24] <@wrbtrader> My point is there's more things (variables) occurring.
[13:11:36] <@wrbtrader> It's like a typical business.
[13:12:02] <@wrbtrader> Lots of stuff to do to make a business profitable...
[13:12:11] <@wrbtrader> You need more than just a good product.
[13:12:40] <@wrbtrader> Kind'uv reminds me about my first auto I bought...
[13:12:49] <@wrbtrader> It was a Ford Escort
[13:13:01] <@wrbtrader> The best selling car at the time
[13:13:17] <@wrbtrader> Ford was great at marketing a "poor product".
[13:13:42] <+Inertia> Mark I think u r missing the point
[13:13:48] <@wrbtrader> Yet, their best product the Ford truck had poor sales because it wasn't marketed good.
[13:14:02] <@wrbtrader> The point is this...
[13:14:18] <@wrbtrader> You need more than just a high win rate to be profitable.
[13:14:35] <@wrbtrader> You need even more to trade for a living
[13:15:03] <@wrbtrader> I recognize that which if why I don't have one edge...
[13:15:27] <@wrbtrader> My edge involves the entire package working togther and not upon one variable within the package
[13:16:20] <+Inertia> the point is that some of us have spent countless hours learning your stuff and something is still missing. I am not saying that you deliberatly did not put it in btw.
[13:16:45] <@wrbtrader> Inertia...you don't use my stuff the way I do.
[13:16:55] <@wrbtrader> That's the point I've been making to you a very long time
[13:17:12] <+Inertia> yes but I am still trying to crack this nut
)
[13:17:31] <+Time4now> 10,000 hours...
[13:17:52] <@wrbtrader> Try using it the way I do instead asking WHY you use this while you're using something else.
[13:18:03] <+Inertia> many of my teachers who got me to my engineering degree could not design anything but they could convey the essence of engineering
[13:18:54] <@wrbtrader> Best way to duplicate someone is to use what they are using.
[13:19:27] <@wrbtrader> We don't even us the same broker, same ISP, don't trade the same time and on and on.
[13:19:32] <+Time4now> this is a good conversation to save
[13:19:50] <+Inertia> I can get all the equipment u have (if I don't have it already) I can have the same broker, the same everything and still something will be missing
[13:20:08] <+Sidhartha> experience
[13:20:09] <@wrbtrader> You won't know until you try
[13:20:15] <+Sidhartha> psychological makeup
[13:20:31] <@wrbtrader> Yeah...exactly
[13:20:31] <+Sidhartha> amount you can afford to lose
[13:20:35] <+Sidhartha> confidence
[13:20:47] <@wrbtrader> We don't have the same tolerance level
[13:21:22] <+Inertia> the amount side is ok (I am still here after almost 3 years of full time participation)
[13:21:23] <@wrbtrader> I may exact a loser because of FEAR at -0.3 and you may exit the same loser at -0.6 due to a different reason
[13:21:41] <+Inertia> that I agree with
[13:22:12] <@wrbtrader> Most of the guys I know are trading now...in refer to the mid-day stuff.
[13:22:33] <@wrbtrader> Yet, I don't get as much losses during this type of price action because I limit my participation.
[13:22:46] <@wrbtrader> Most disagree with my habit about such.
[13:23:04] <@wrbtrader> That's why I say until you do what I do...results will differ GREATLY
[13:23:41] <@wrbtrader> Most don't even use the same tutorials even though they have access to it.
[13:24:09] <@wrbtrader> Most don't like the fact I use Oil and Gold to help manage my trades.
[13:24:45] <@wrbtrader> I could go on an name more reasons why MOST don't like to use what I use...
[13:25:00] <@wrbtrader> Yet, they are the same ones that say their performance is different
[13:25:40] <@wrbtrader> I remember when I got mentor...
[13:26:00] <@wrbtrader> The guy refused to work with me until I had exactly the same thing he had access too.
[13:26:19] <@wrbtrader> I even had to setup my charts the same and same type of computer screens et cetera
[13:27:15] <+Inertia> [12:55:06] <@wrbtrader> Not all rules can be coded. >> I must have missed this. RULE= a prescribed mathematical method for performing a calculation or solving a problem. << this is one of the definitions. I fail to see why your rules cannot be coded
[13:27:44] <@wrbtrader> My rules aren't mathmatical
[13:27:53] <@wrbtrader> If they were...I would agree
[13:28:11] <+Inertia> RULE = a prescribed mathematical method for performing a calculation or solving a problem
[13:28:16] <+Inertia> soryy
[13:28:29] <+Inertia> Rule = the customary or normal circumstance, occurrence, manner, practice, quality, etc.: the rule rather than the exception
[13:28:40] <+Inertia> is this better?
[13:29:03] <@wrbtrader> Here's an example of one of my hard rules...let me know if you can code it...
[13:29:15] <+Dv84> inertia; markets dont nead reason, your coding does need a reason
[13:29:24] <+Dv84> you as a human have to change on the fly about what to do
[13:29:32] <+Dv84> no 1 trade will be the same basicly
[13:29:51] <+Dv84> you can write as much code and math as you want
[13:30:02] <+Dv84> by the end of the day you are still 50/50
[13:31:46] <@wrbtrader> If there's a discrepency by more than 3 ticks between my data vendor and my broker quotes...I reduce my position down to 1 contract
[13:31:57] <@wrbtrader> How do you code that
[13:32:12] <+Inertia> u compare the 2 sources on the fly
[13:32:36] <@wrbtrader> It's a hard RULE I've used every trading day for the past 15 yeares
[13:32:39] <+Inertia> if a <> b +/- 3 then
[13:33:25] <+Inertia> or IF ABS(A-B) > 3 then
[13:33:25] <@wrbtrader> My point is this...you have a different definition of rules than I do.
[13:33:36] <@wrbtrader> I have a RULE about when to use the toilet
[13:33:55] <@wrbtrader> It's simple, don't do it in the middle of an open trade position
[13:34:05] <+Inertia> bodily functions are autonomous , not rule based
))
[13:34:30] <@wrbtrader> Like I said...it's a RULE to me but not to you.
[13:34:51] <+Inertia> do u want to tell me that you can hold it indefinately
??
[13:34:54] <@wrbtrader> Reason why quants have problems trying to figure out when I will trade, not trade, close a position or open a position.
[13:35:28] <@wrbtrader> I don't trade after an argument with my spouse...
[13:35:34] <@wrbtrader> I've never broken that rule
[13:35:41] <+Inertia> that is a rule I can understand
[13:35:47] <+Inertia> and it make s sense
[13:36:31] <+Sidhartha> bottom line is, intution is very hard to code...
[13:36:37] <@wrbtrader> I exit positions at a loss or profit when every the president of the United States shows up on TV on the financial networks
[13:37:45] <@wrbtrader> A quant can't code that
[13:38:14] <@wrbtrader> He'll have to use DISCRETION
[13:38:16] <@wrbtrader>
[13:38:32] <@wrbtrader> Birth of the discretionary trader...someone not automated
[13:39:52] <@wrbtrader> We just have different definitions of what qualifies as a RULE.
[13:40:18] <@wrbtrader> To me, anything can be a rule if you make a HABIT of doing it
[13:47:42] <+Sidhartha> what is going on in OIL today....
[13:47:55] <+Sidhartha> getting creamed
[13:48:14] <+Sidhartha> gold been going the opposite way
[13:48:41] <codehead> NQ tapped .500 pullback
[13:48:46] <+codehead> on the button
[13:49:05] <+codehead> btw, that top was .500 retracement plus 2 ticks
[14:03:17] <@X> #FuturesTrades Info -> Chat room for traders of Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) and Forex Currencies
[14:18:02] <werner> hi all
[14:18:14] <+codehead> hi werner
[14:18:41] <+werner> hi codehead
[14:21:54] <+werner> Shorts NQ @ 2122.75
[14:24:45] <+werner> brrr
[14:32:10] <+werner> Covered all NQ Short @ 2126.00 --> - 3.25
[14:32:28] <+Inertia> hello werner
[14:32:54] <+werner> hi inertia
[14:37:14] <+werner> Shorts NQ @ 2125.50 -> Add
[14:39:19] <+werner> Shorts NQ @ 2125.00 -> Add
[14:40:06] <+codehead> YM needs to move up 10 pt to break out inv h&s
[14:40:12] <+codehead> but tougher job, not as strong as nq
[14:40:42] <+codehead> strength *could* roll over for NQ
[14:41:04] <+codehead> but sitll find on longer framer
[14:41:07] <+codehead> frame
[14:41:17] <+codehead> *fine* not find
[14:41:23] <+werner> tx
[14:41:25] <+codehead> short frame is for pb
[14:41:31] <+werner> i see
[14:42:08] <@wrbtrader> ok...back again after more personal stuff
[14:42:16] <+codehead> the fact dow & s&p having tougher time with res areas might help you
[14:42:30] <+codehead> NQ cluster at 2130
[14:42:44] <+codehead> 2131 i meant
[14:42:51] <+codehead> 2130.50-2131
[14:44:44] <+werner> Covered all NQ Short @ 2127.25 --> - 6.75
[14:44:50] <+werner> ai
[14:47:23] <+codehead> YM and ES testing b/o
[14:51:35] <+codehead> didn't make it thru... hm
[14:51:40] <+codehead> bond close coming up
[15:06:19] <+werner> Long NQ @ 2127.25
[15:24:44] <@wrbtrader> Most trading days in 2010 has the first 2 hours containing the biggest directional price movements.
[15:25:11] <@wrbtrader> They also contain the most volatility
[15:25:27] <@wrbtrader> That's the regular trading hours info
[15:25:56] <@wrbtrader> In contrast, overall, the biggest price movements have occurred in the overnight trading session or early morning before the open...
[15:26:04] <@wrbtrader> However, it contains LESS volatility
[15:27:56] <@wrbtrader> Technically, if your someone trying to decide when is the best time to trade...it's between the overnight and first 2 hours of trading.
[15:28:15] <@wrbtrader> Yeah, there are days some nice movements occurs after 1130am est.
[15:28:34] <@wrbtrader> I tend to miss most of those days via doing personal stuff
[15:29:26] <@wrbtrader> Before 2008...we have MORE directional price movements in the late afternoon trading session between 2pm - Closing
[15:29:48] <@wrbtrader> Often on increasing volatility for strong directional price movement
[15:30:02] <+Inertia> i did many studies about the best hours to trade and they change all the time but the morning seems to be the best followed by the afternoon
[15:30:15] <@wrbtrader> That's my key to knowing that money is coming back into market...
[15:30:34] <@wrbtrader> The return of those late afternoon directional price movements
[15:30:53] <+Inertia> what I found that may help is that if u devide the day into 3, if one 1/3 was quiet than the next will be volatile
[15:31:38] <@wrbtrader> Why 1/3
[15:32:16] <@wrbtrader> 8 hour trading sessions
[15:32:17] <+Inertia> 8:30-11:30, 11:30-14:30, 14:30-16:00
[15:32:38] <@wrbtrader> Ahhh...you're talking about the regular hour session being divided
[15:32:42] <+Inertia> it seems that everything in life is devided into 3
[15:32:45] <+Inertia> yes
[15:33:10] <@wrbtrader> Yeah...I use to trade heavily starting around 0830am est
[15:33:18] <@X> #FuturesTrades Info -> Chat room for traders of Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) and Forex Currencies
[15:33:33] <@wrbtrader> However, when the kids arrived with day care and school and traffic...
[15:33:39] <@wrbtrader> those days are over
[15:34:02] <@wrbtrader> I'm lucky to make it back in time for the opening bell.
[15:34:25] <@wrbtrader> Most of the time I'm not ready until 0945am est
[15:34:48] <+Inertia> take integrated cirduits for instance. there is something that is called INFANT MORTALITY (i guess taken from humans) if a chip will not die within a short time after it is installed - it will function for a long time. towards the end of the chip's usefull cycle the mortality rate increases
[15:34:52] <+Inertia> just like humans
[15:35:04] <@wrbtrader> Yep
[15:35:54] <+Inertia> or mechanical devices
[15:36:05] <+Inertia> like cars
[15:36:49] <+Inertia> rockets (payload, fuel, engine)
[15:37:05] <+Inertia> u get the idea
))
[15:37:40] <+codehead> i think i mentioned cluster here on NQ earlier
[15:37:47] <+codehead> thought it would get there
[15:38:16] <+codehead> should be tough to get thru, but tough time to gamble as margin calls come
[16:23:16] <+Inertia> gn
[17:00:18] <@X> #FuturesTrades Info -> Chat room for traders of Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) and Forex Currencies
[17:03:35] <@wrbtrader> Just got back...spouse had me go pick up the kids from school
[17:04:00] <@wrbtrader> Missed the 4pm close trading session
[17:08:10] <@wrbtrader> Tomorrow will also be full of personal distractions too...got 2 appointmenets.
[17:08:17] <@wrbtrader> Take care all and see all tomorrow
[17:08:24] * wrbtrader is now known as wrbtrader_away
Session Close: Thu Oct 28 17:08:30 2010
-------------------------
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