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 Post subject: January 4th Tuesday - Futures, ETFs and Forex Currencies
 Post Posted: Tue Jan 04, 2011 10:21 pm 
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Joined: Tue Dec 16, 2008 1:02 am
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Attachment:
010411_Key_Price_Action_Markets.png
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click on the above image to view today's price action of key markets

Session Start: Tue Jan 04 09:25:14 2011
Session Ident: #FuturesTrades
[09:25:14] * Now talking in #FuturesTrades
[09:25:14] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[09:26:11] <AndyES> gm LP, all
[09:28:54] <werner> gm all
[09:29:16] <drt> gm
[09:31:13] <@wrbtrader> Shorts ES @ 1268.75 -> large size
[09:31:20] <@wrbtrader> 10 contracts
[09:34:14] <Trendtrader> Shorts TF @ 797.4 «« simulator »»
[09:35:17] <@wrbtrader> Covered all ES Short @ 1268.50 --> + 0.25
[09:35:36] <@wrbtrader> stalling
[09:35:46] <@wrbtrader> will need to chase if it moves lower
[09:37:05] <@wrbtrader> Long ES @ 1268.75 -> large size
[09:38:54] <@wrbtrader> Exited all ES Long @ 1260.00 --> - 8.75
[09:39:02] <@wrbtrader> ooops
[09:39:13] <@wrbtrader> Exited all ES Long @ 1268.00 --> - 0.75
[09:39:28] <+Trendtrader> Covered all TF Short @ 796.4 --> + 1 «« simulator »»
[09:40:11] <@wrbtrader> Shorts ES @ 1267.75 -> large size
[09:40:47] <+werner> i dont like the charts right now... dont see a good setup here
[09:41:12] <+werner> entry
[09:41:27] <Sidhartha> so wrbtrader, you abondoned TF I guess...? Not paying for the data...?
[09:42:31] <@wrbtrader> No
[09:42:48] <+werner> i am not paying ...but still data here
[09:42:51] <@wrbtrader> I'll repeat...I'll be trading several different trading instruments this year
[09:43:28] <@wrbtrader> ICE made a key change and I'm just going to watch how it impacts Emini TF for awhile.
[09:43:36] <@wrbtrader> Until then...I'll trade something else
[09:43:41] <+Sidhartha> ok
[09:43:57] <+Sidhartha> not repeating to me, because I wasn't here until very late yesterday
[09:44:56] <@wrbtrader> I'll also be doing some swing trades this year but will only post those trades at the FTCHAT Forum (most likely)
[09:45:47] <@wrbtrader> not sure where I'll post those trades because I want to keep them out of the chat room due to conflict with the script unless I manaually post such trades
[09:46:04] <+werner> 65.75 is pivot es
[09:46:13] <+werner> all ses
[09:46:15] <@wrbtrader> Emini ES another stall here at another support
[09:50:38] <@wrbtrader> Covered 1/2 ES Short @ 1265.75 --> + 2
[09:50:51] <+werner> Factory Orders in 10 min
[09:50:57] <@wrbtrader> Covered Remainder ES Short @ 1265.75 --> + 2
[09:51:24] <@wrbtrader> Yes...I decided to go to the sidelines and just watch for awhile because we're very close to the news release
[09:51:39] <+werner> :)
[09:51:47] <@wrbtrader> I saw it being hpyped on a few finanical networks
[09:52:24] <@wrbtrader> Thus, there should be some extra volatility associated with it when it's released
[09:53:02] <+Trendtrader> Long TF @ 794.7 «« simulator »»
[09:54:25] <+werner> es ym and tf on pivot now
[09:54:36] <+werner> all ses
[09:57:35] <+werner> dam news ..if not.. i went long here
[10:02:41] <+Trendtrader> Exited all TF Long @ 794.8 --> + 0.1 «« simulator »»
[10:02:53] <@wrbtrader> support break
[10:05:00] <pat255> gm all
[10:05:05] <+pat255> @office ..
[10:05:27] <+werner> gm pat
[10:07:39] <+pat255> gm werber N & others
[10:07:56] <+werner> no big orders at the tape reader here
[10:08:23] <@wrbtrader> Shorts ES @ 1264.50 -> large size
[10:08:33] <@wrbtrader> 6 contracts
[10:08:43] <@wrbtrader> tough trade
[10:13:23] <@wrbtrader> Covered all ES Short @ 1264.75 --> - 0.25
[10:13:31] <@wrbtrader> price stall
[10:13:51] <+pat255> y looks like basing here S area?
[10:14:11] <+werner> i dont like it ...bbl
[10:14:14] <@wrbtrader> Yeah...I think it's trying to develop a new support here too
[10:15:58] <@wrbtrader> Shorts ES @ 1264.25 -> large size
[10:16:03] <@wrbtrader> 10 contracts
[10:16:09] <+AndyES> wow...I have never seen CL move like this
[10:16:31] <@wrbtrader> intuition
[10:17:35] <@wrbtrader> Oil moving down nicely but the Eminis are fighting hard to not follow
[10:17:41] <@wrbtrader> not good for my trade
[10:17:45] <+pat255> y
[10:18:39] <@wrbtrader> volatility contracting too
[10:18:43] <@wrbtrader> :(
[10:20:05] <@wrbtrader> Covered all ES Short @ 1264.75 --> - 0.5
[10:22:48] <@wrbtrader> Long ES @ 1265.25 -> large size
[10:23:07] <@wrbtrader> 10 contracts
[10:23:17] <@wrbtrader> volatility trying to expand
[10:23:31] <@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
[10:24:57] <@wrbtrader> Emini TF and NQ trying to move this higher
[10:29:04] <@wrbtrader> Exited all ES Long @ 1265.00 --> - 0.25
[10:29:18] <@wrbtrader> needed more patience on that trade...didn't have it
[10:29:25] <+pat255> looks like from yesterday move consloidation day to day .
[10:29:30] <+pat255> did not trade yesterday
[10:29:50] <@wrbtrader> volatility suddenly drying up spooked me out of the trade
[10:31:39] <@wrbtrader> Long ES @ 1265.50 -> large size
[10:31:46] <@wrbtrader> chasing prior trade
[10:33:16] <@wrbtrader> last chance with this size because now it's beyond 1030am est and more chances of contracting volatility suddenly showing up along with occurring in longer durations
[10:33:51] <@wrbtrader> support broken again in Oil
[10:33:59] <+pat255> yes ,,,
[10:34:19] <@wrbtrader> It looked stable a few minutes again and then pow
[10:34:23] <+pat255> oil at least moves ...geez but voltaile as hell
[10:34:51] <+AndyES> I have taken one trade in oil today...4 seconds total time
[10:35:02] <+AndyES> Nintendo kids are in charge
[10:35:16] <+pat255> lol
[10:35:31] <@wrbtrader> Long ES @ 1265.00 -> Add
[10:39:23] <@wrbtrader> We still have the 2pm est FOMC Minutes event
[10:40:04] <@wrbtrader> It's become more important since the fall of 2008
[10:41:22] <@wrbtrader> Gold just broke another support and now Oil threatening to do the same :(
[10:43:49] <@wrbtrader> If Emini TF and NQ can keep their legs without falling through the support...
[10:43:55] <@wrbtrader> Emini ES will hold too
[10:45:53] <@wrbtrader> Exited 1/2 ES Long @ 1264.75 --> - 0.25
[10:46:12] <@wrbtrader> Exited Remainder ES Long @ 1264.50 --> - 1
[10:47:05] <@wrbtrader> Shorts ES @ 1264.25 -> large size
[10:47:10] <@wrbtrader> 20 contracts
[10:47:28] <@wrbtrader> Eminis losing support
[10:47:35] <+pat255> good lord ..heavy size
[10:47:56] <@wrbtrader> not really
[10:49:48] <@wrbtrader> I have two prior losing trades in thise price area as Short positions...support suddenly showed up then
[10:50:38] <+werner> tf here prev year high
[10:51:04] <+werner> i hope it will crack :)
[10:51:18] <@wrbtrader> Emini ES testing that intraday low
[10:51:28] <+werner> yep
[10:52:48] <@wrbtrader> geeesh
[10:53:24] <@wrbtrader> Covered 1/2 ES Short @ 1264.00 --> + 0.25
[10:56:10] <@wrbtrader> Covered Remainder ES Short @ 1264.00 --> + 0.25
[10:56:51] <@wrbtrader> so far getting nowhere :(
[10:57:18] <@wrbtrader> Key markets gets some legs and Emini ES tries to push down...
[10:57:40] <@wrbtrader> Key markets lose their support and Emini ES tries to push higher
[10:57:41] <@wrbtrader> :(
[10:58:02] <+werner> :(...take break
[10:58:18] <+werner> bbl here
[11:04:57] <@wrbtrader> Shorts ES @ 1263.50 -> large size
[11:05:13] <@wrbtrader> 10 contracts
[11:05:16] <@wrbtrader> intuition
[11:08:54] <@wrbtrader> trades today have had good entries for me except for one that resulted in a -1 point loss
[11:09:10] <@wrbtrader> still haven't caught a runner
[11:11:26] <@wrbtrader> Covered all ES Short @ 1262.00 --> + 1.5
[11:11:41] <+pat255> vn good patience on this
[11:12:32] <@wrbtrader> back at the profit level I was at before 4 consecutive losers
[11:13:24] <@wrbtrader> keeping those loses minimized has allowed me to get profitable again today
[11:13:48] <+pat255> vn
[11:30:58] <@wrbtrader> Yesterday I asked about data problems with Brent Oil and others.
[11:31:20] <@wrbtrader> Now that FTSE is open (it was still closed for the holiday)...
[11:31:39] <@wrbtrader> I now have my FTSE100 futures and Brent Oil futures along with others
[11:32:13] <@wrbtrader> Thus, at least it looks like the Brent Oil futures is being associated with the same country holiday as the FTSE100
[11:32:33] <+AndyES> interesting
[11:32:57] <+AndyES> today Brent: 124K, Crude: 240K
[11:32:58] <+pat255> TF free fall
[11:33:17] <@wrbtrader> Emini TF nose dived
[11:33:45] <@wrbtrader> Emini ES didn't follow or moved down only a few ticks
[11:39:06] <+AndyES> Long CL @ 89.39 «« scalp »»
[11:40:22] <+AndyES> stopped out
[11:40:28] <+AndyES> did not minimize that loss
[11:41:19] <+pat255> later guys ty all
[11:53:31] <@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
Session Close: Tue Jan 04 11:54:31 2011

Session Start: Tue Jan 04 12:00:56 2011
Session Ident: #FuturesTrades
[12:00:56] * Now talking in #FuturesTrades
[12:00:56] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[12:33:52] <codehead>  Long NQ @ 2238.25 
[12:34:05] <+codehead>  Exited all NQ @ 2239.25 
[12:34:20] <+codehead> 2237 is a number i looked at yesty, looked very enticing
[12:34:38] <+codehead> need ot recheck it, jsut got back to desk from nap, took a quickie scalp...
[12:39:04] <+codehead> i coded a quickie trading script, but haven't made it calculate the total yet
[12:39:12] <+codehead> 2237.50 is .500
[12:39:17] <+codehead> 2237.00 is symmetry
[12:39:32] <+codehead> so support in here, and 2234.50-2235.50
[12:45:13] <+codehead>  Long NQ @ 2236.75 
[12:45:18] <+codehead> 10 tick stop
[12:49:46] <+codehead>  Exited all NQ @ 2239.25 
[12:53:38] <+Sidhartha> N... out of interest I just had a conversation with ICE about the new fees... was quite interesting
[12:53:57] <@wrbtrader> Ok
[12:54:44] <@wrbtrader> By the way, I just found out that ICE exchange has their own charting program.
[12:54:48] <@wrbtrader> It's webbased
[12:55:06] <+Sidhartha> basically they said they had done a through cost benefit analysis of charging for the data... and they bascially realised they were going to be screwing some of the smaller guys (i.e. retail)... but in the broader picture of where they want to take the contract (clearly moe instituional) they were prepared to accept that some retail traders would walk away from the contract...
[12:55:26] <@wrbtrader> ok
[12:56:15] <+Sidhartha> actually a very helpful guy there... anyway, clearly the implication was they were under pressure to increase revenue...
[12:56:33] <@wrbtrader> They've lost a ton of "commercial (institutional)" interest in the Emini TF since July of last year
[12:56:40] <@wrbtrader> All the Eminis have
[12:56:41] <+Sidhartha> why?
[12:57:19] <@wrbtrader> Financial crap of 2008 and lots of money has left the markets
[12:58:22] <+Sidhartha> has ETF's volume gone up...? I'm wondering whether money has moved away from futures and into ETF's or options...
[12:58:24] <+Sidhartha> ?
[12:59:08] <+Sidhartha> After all, you are less likely to go broke trading ETF's because you can;t get the leverage...
[12:59:34] <@wrbtrader> It's moved away from the Eminis because there's several trading instruments has replaced the Eminis at the top of the liquidity list shown by Stocks & Commodities magazine
[13:00:00] <+Sidhartha> which ones out of interest...? Gold? Oil?
[13:01:18] <@wrbtrader> Just a second...I'll post the link...
[13:02:05] <@wrbtrader> Eurodoll and Euribor at the top of the list now @ http://www.traders.com/Documentation/FE ... utLiq.html
[13:03:48] <@wrbtrader> Biggest drop is the Russell 2000 Emini TF, Eurex DAX, Treasury Notes and Euro Currency
[13:05:26] <@wrbtrader> Contract to trade for equal dollar profit in the Emini TF is 8 contracts.
[13:06:10] <@wrbtrader> My average was about 2 contracts...I know now I was too much under that 8 contract.
[13:06:32] <@wrbtrader> Emini ES is currently 10 contracts...reason why I'm trading that type of size.
[13:06:39] <+Sidhartha> do you know the change because you have last years list also...? I don't see change of position anywhere...
[13:07:39] <@wrbtrader> Yes...I wrote them down from 2000 to 2005 and then just reviewed the link a few years after 2005 without documenting it.
[13:08:04] <@wrbtrader> I ended my subscription to the magazine in 2005
[13:11:03] <@wrbtrader> Here's 2010 January @ http://www.traders.com/Documentation/FE ... utLiq.html
[13:13:06] <@wrbtrader> Check out the change in Russell 2000 in January of 2009 @ http://www.traders.com/Documentation/FE ... utLiq.html
[13:13:36] <@wrbtrader> Back then the Russell only needed 1 contract to trade for equal dollar value
[13:13:45] <@wrbtrader> Today it needs 8 contracts.
[13:14:06] <@wrbtrader> That's a huge loss of liquidity due to the big changes in it's volatility
[13:15:38] <@wrbtrader> No way would I try to push 8 contracts in the Emini TF today...they'll tick you to death
[13:16:18] <@wrbtrader> Maybe only during very high volatility in a small window duration associated with a FED announcement or key market event but that's about it
[13:19:25] <+Sidhartha> is the contract worth less than it used to be...? right now 1 TF = 1 * 100 * 780 = $78,000 exposure per contract...
[13:19:42] <@wrbtrader> good question...not sure
[13:19:57] <@wrbtrader> AndyES may know
[13:20:08] <+Sidhartha> 100 comes from tick value of $10 per 0.1 tick
[13:21:41] <+Sidhartha> because if that hasn't changed, then the ONLY was the equal dollar value can have changed so much is due to much lower volatility...
[13:21:47] <+Sidhartha> was=way
[13:22:35] <+Sidhartha> which is surprising since they say they measure volatility over the preceeding 3 years... unless the 2009 number contains an abberation that 2010 and 2011 doesn't
[13:23:11] <@wrbtrader> I remember a few months the Russell Emini TF was NOT on the liquidity list.
[13:23:27] <@wrbtrader> I don't know if that was an error but I suspect it wasn't.
[13:23:32] <@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
[13:24:03] <@wrbtrader> It was around the time it switch exchanges from CME to ICE
[13:24:38] <@wrbtrader> Maybe ICE had poor reporting of the data when it first got it's hands on the Russell
[13:24:43] <+AndyES> I don't recall if the value of a TF contract was previously calculated differently
[13:30:25] <+AndyES> big loss of volatility in CL
[13:31:11] <+AndyES> and the lesson I seem to need smacked into me is: do not trade low volatility
[13:31:13] <+AndyES> lol
[13:31:55] <@wrbtrader> Yeah...I see a lot more traders struggling with CL since early December
[13:32:41] <@wrbtrader> One thing about those liquidity list...if you don't have a problem with "trading anything"...
[13:33:06] <@wrbtrader> Just trade those at the top of the list although some requires some DEEP pockets to get into.
[13:33:45] <+Sidhartha> hold on... I'm getting confused here... that list is a liquidity list... not a volatility list... right...?
[13:33:58] <@wrbtrader> Yes...liquidity
[13:34:08] <+Sidhartha> because the top contracts, euribor etc are SUPER liquid... but not very volatile... as I understand it
[13:35:23] <@wrbtrader> I'm talking now about measuring the "change" in required contracts to equal the same dollar value of profit versus others on the list.
[13:35:52] <@wrbtrader> Thus, when Emini TF rises in contract requirement...volatility is declining
[13:36:10] <LP> vix vin vxx all declining sence june, hard on traders, if your wrong hard to make it back
[13:36:15] <@wrbtrader> meant in "number" of contracts required to equal others
[13:36:26] <@wrbtrader> LP...I agree.
[13:36:42] <@wrbtrader> It now takes A LOT longer to make back a losing trade.
[13:36:57] <+LP> yep
[13:37:33] <@wrbtrader> In the old days...I could take a 6 point loss in Emini ES or TF and make it all back plus many more points in the next trade.
[13:37:38] <@wrbtrader> That's excellent volatility
[13:38:05] <@wrbtrader> In contrast, today if I take a 6 point loss. No way in hell will I make that back by the closing bell let alone the next trade
[13:41:41] <+LP> vix vin vxx are really the price to hedge, everbody feels safe now the fed saved us ;) good luck
[13:41:59] <+AndyES> I am not watching equities, but I have been surprised how often there is a trade in the 15 minutes leading up to the FOMC, as traders position themselves
[13:42:42] <+LP> we are the last to know andy ;)
[13:43:24] <+AndyES> :)
[13:51:30] <+AndyES> Long CL @ 88.81 «« scalp »»
[13:52:18] <+AndyES> stopped out
[13:52:24] <+AndyES> with plenty of warning :(
[13:52:43] <werner> FOMC Meeting Minutes in 10 min
[14:01:29] <+werner> no action sofar
[14:06:04] <+werner> Long NQ @ 2246.00
[14:08:49] <+werner> Exited all NQ Long @ 2248.50 --> + 2.5
[14:23:08] <+werner> very nice bounce off the intraday lows
[14:23:38] <@wrbtrader> Long ES @ 1264.50 -> large size
[14:23:50] <@wrbtrader> 10 contracts
[14:23:56] <@wrbtrader> intuition
[14:24:17] <+werner> a bounce off the prev yearly high from nq qnd es
[14:24:22] <+werner> and
[14:24:32] <@wrbtrader> increasing volatility
[14:24:40] <@wrbtrader> hopefully it continues expanding
[14:25:13] <+werner> nq at pivot here 51.75
[14:27:23] <+werner> wrbtrader are you looking at 65.50?
[14:27:34] <@wrbtrader> Yes
[14:27:43] <+werner> ok :)
[14:28:05] <@wrbtrader> actually anythiing over 1265.00
[14:28:17] <+werner> yes i see
[14:28:20] <@wrbtrader> I don't like how it struggle at 1265
[14:29:42] <+werner> ym at r1 631
[14:29:45] <@wrbtrader> Exited all ES Long @ 1264.50 --> 0
[14:30:00] <+werner> :(
[14:30:37] <@wrbtrader> I have a resistance @ 1265 and support @ 1264
[14:30:51] <@wrbtrader> Will chase either one as a breakout if there's volatility
[14:31:08] <@wrbtrader> If not...will be looking to fade the breakout
[14:31:25] <+werner> yes i see
[14:35:44] <+codehead> qqqq almost hit flat
[14:36:00] <+codehead> NQ almost hit .618
[14:36:05] <+codehead> 2 ticks
[14:37:29] <+AndyES> gigantic selling of oil into the close
[14:38:28] <@wrbtrader> Shorts ES @ 1263.75 -> large size
[14:38:35] <+werner> i see codehead...now at .50
[14:38:35] <@wrbtrader> 10 contracts
[14:40:23] <@wrbtrader> Covered all ES Short @ 1264.75 --> - 1
[14:42:49] <@wrbtrader> Shorts ES @ 1264.50 -> large size
[14:43:03] <@wrbtrader> 10 contracts
[14:43:14] <@wrbtrader> intuition after the rude shake out of the prior trade
[14:46:28] <@wrbtrader> contraction trying to develop :(
[14:48:49] <+werner> Shorts NQ @ 2249.75
[14:50:15] <@wrbtrader> Covered 1/2 ES Short @ 1264.25 --> + 0.25
[14:51:00] <@wrbtrader> Covered Remainder ES Short @ 1264.25 --> + 0.25
[14:51:24] <@wrbtrader> ridiculous :(
[14:51:42] <@wrbtrader> tough price area between 1265 - 1264
[14:52:58] <+Sidhartha> price being underpinned by the FOMC mins up move
[14:53:32] <@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
[14:55:09] <+werner> 48.75 nq must break
[14:56:34] <+werner> for more downside
[14:59:30] <+werner> mmm
[14:59:51] <+werner> Covered all NQ Short @ 2249.75 --> 0
[15:04:44] <@wrbtrader> Shorts ES @ 1263.75 -> large size
[15:05:00] <@wrbtrader> 10 contracts
[15:06:02] <+werner> Shorts NQ @ 2249.00
[15:06:33] <ajax> ga....hope all had a great holiday & a New Year to be.... :))
[15:08:50] <+werner> exit nq is at 62.75 es
[15:09:03] <+werner> here
[15:09:48] <+werner> Covered all NQ Short @ 2246.75 --> + 2.25
[15:10:50] <+ajax> werner....what time frame ya using chart wise on NQ??
[15:10:51] <+codehead> nice
[15:11:15] <+ajax> gg on trade
[15:11:25] <+ajax> got it too for same
[15:11:34] <+werner> trade frame 3min
[15:11:44] <+ajax> k thx
[15:12:28] <+werner> but is see 1/3/5/10/15/30/60/120/240/480/960...lol
[15:12:37] <+werner> i see
[15:13:40] <+ajax> lol
[15:13:47] <@wrbtrader> Covered all ES Short @ 1363.50 --> - 99.75
[15:13:56] <@wrbtrader> :)
[15:14:00] <+AndyES> gn all...off to the gym...good luck to all
[15:14:01] <+ajax> me trade 144tk, & watch 377/610tk/3min NQ
[15:14:16] <@wrbtrader> Covered all ES Short @ 1263.50 --> + 0.25
[15:14:21] <@wrbtrader> correction
[15:14:28] <+werner> ok tx ajax
[15:14:33] <@wrbtrader> still tough
[15:15:08] <@wrbtrader> It's fighting hard to get back to that 1265 - 1264 trading range
[15:18:07] <+werner> indd
[15:19:24] <+werner> 62.75 prev day low is holding there
[15:21:17] <+werner> nq some res here
[15:21:45] <+werner> ...lets see
[15:24:09] <+werner> no big contacts in tape reading
[15:25:06] <+werner> wow ym
[15:25:31] <@wrbtrader> Long ES @ 1265.50 -> large size
[15:26:52] <+werner> sissy here :(
[15:26:59] <+ajax> wo...PP here
[15:27:31] <@wrbtrader> it didn't last long in that frenzy
[15:28:12] <@wrbtrader> Emini ES for the discipline traders only :(
[15:28:19] <@wrbtrader> :)
[15:29:42] <+ajax> :)
[15:30:04] <+ajax> ya at PP's I always hold breath...lol
[15:30:25] <+ajax> lolllll....thinking one could take that different ways....lollll
[15:30:38] <+werner> Shorts NQ @ 2251.00
[15:31:07] <+ajax> programa time....last big one of day
[15:31:14] <+ajax> programs
[15:32:01] <+ajax> are 9 in a day....got from an ex-ES pit trader, that they all use & is like clockwokr daily, & been that way for 4 years now
[15:32:19] <@wrbtrader> Exited ES Long @ 1264.75 --> - 0.75
[15:32:19] <@wrbtrader> Reverse and Enter Short ES @ 1264.75
[15:32:24] <+ajax> anyomnw wnat the times, let me know
[15:32:27] <+werner> Covered all NQ Short @ 2249.25 --> + 1.75
[15:32:33] <+ajax> gg
[15:32:38] <+werner> done
[15:32:41] <+werner> tx
[15:33:42] <+ajax> nq PP here...wo here
[15:34:20] <@wrbtrader> just like that so quickly...back to the support of 1264.00
[15:34:23] <+ajax> ss2250.50, +1, +2, runr in
[15:35:38] <+ajax> +2out
[15:35:43] <@wrbtrader> Covered all ES Short @ 1264.00 --> + 0.75
[15:35:55] <@wrbtrader> Just churning this afternoon so far
[15:35:58] <@wrbtrader> :(
[15:36:44] <+ajax> <indy> ----< 5 minutes before KEY TIME ZONE REVERSAL/MOC TIME 15:40 to 15:45 >----
[15:37:31] <+ajax> he posts them in 'patterns" room...gave him the time periods, & he automated it into room there....fyi
[15:47:09] <+werner> look for es and ym
[15:47:35] <+werner> hh or lh
[15:49:25] <+ajax> no progs so far....so eod will be last one then
[15:50:00] <+werner> k
[15:50:23] <@wrbtrader> a lot of volume but very little volatility
[15:50:30] <@wrbtrader> setting up for a volatility spike
[15:51:58] <+ajax> y
[15:52:33] <+ajax> wrb....ya now seen da light & now a ES/NQ player now, rather than TF??.... :))
[15:53:10] <+ajax> hey how were the holidays, considering the situation? ... :)
[15:54:18] <+werner> es and ym still res
[15:54:22] <@wrbtrader> 2011 I will trade several different trading instruments.
[15:54:29] <@wrbtrader> won't get married to one particular one
[15:55:30] <+werner> dam its closing time
[15:55:37] <@wrbtrader> Long ES @ 1265.25 -> large size
[15:55:54] <@wrbtrader> 10 contracts
[15:57:11] <@wrbtrader> tighten stop/loss protection
[15:57:26] <@wrbtrader> geeesh
[15:57:46] <+werner> :(
[15:57:49] <@wrbtrader> it retrace back when I wrote that
[15:58:37] <+ajax> sorta like Life.... :))
[15:58:54] <@wrbtrader> Exited all ES Long @ 1265.50 --> + 0.25
[15:59:05] <@wrbtrader> another 1 tick trade :(
[15:59:08] <+ajax> never get married; tighten stop loss....lol
[15:59:39] <+ajax> L2250, +.75, =1out
[16:00:17] <+ajax> nq movin betta than es here in close
[16:00:49] <+werner> gn all
[16:01:42] <+ajax> gn
[16:11:43] <@wrbtrader> Missing that bounce off the intraday low around 1240pm est was tough trading after that because there weren't any reversal price actions...
[16:12:17] <@wrbtrader> Just contracting continuations with a few volatility spikes after a long duration of contraction
[16:12:52] <@wrbtrader> No big deal...wasn't home around the time of the price action reversal
[16:13:23] <@wrbtrader> Take care all and see all tomorrow...
[16:13:32] <+LP> c ya :)
[16:13:50] <@wrbtrader> May only trade tomorrow morning...got a tight schedule of personal stuff in the p.m. afternoon trading session.
[16:14:32] <+LP> news at 10:00 and 10:30
[16:14:53] <+LP> take care
[16:18:45] <+ajax> gn all
[16:23:33] <@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
Session Close: Tue Jan 04 18:44:21 2011

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

#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 trade signal methods, different perspective of the markets and different experience levels. 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 trade signal 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 advertisements for guest visitors.

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, Brent Crude Oil BRN, e-miNY QM and Natural Gas NG

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

Image S&P CNX NIFTY Futures

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 price action only 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)
Price Action Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
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