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 Post subject: February 18th Friday - Futures, ETFs and Forex Currencies
 Post Posted: Fri Feb 18, 2011 4:25 pm 
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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. Further, although our chat room is smaller than the other popular chat rooms...we are the most active chat room in posting trades or market commentaries involving futures, exchange traded funds or forex currencies in comparison to other free chat rooms.

#FuturesTrades is designed to be a trade journal for documentation purposes only so that members can have a real 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.

In addition, we welcome all traders with their own methods or different perspective of the markets to help keep the chat room diversified...posting trades or market commentaries. Also, if you're looking for real-time education in the chat room involving price action only trading (profitably trading without indicators)...you need to contact us to schedule price action only trading real-time discussions. We'll then have one on one (private) real-time price action only trading discussions with you while you're using #FuturesTrades real-time chat room to prevent distractions in the chat room with other members that are using different trading methods in comparison to us. However, you must first download and learn our free study guide at a different forum @ TSL Support Forum * http://www.thestrategylab.com/tsl/forum/viewforum.php?f=5

With that said, thanks for reading the trades or market commentaries that's below and we highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful trade information not discussed anywhere else online nor in any books if you're not interested in scheduling one on one (private) real-time price action only trading education discussions. To gain access to #FuturesTrades chat room...please follow the instructions @ FTCHAT Support Forum * http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5

Attachment:
021811-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: Fri Feb 18 08:59:02 2011
Session Ident: #FuturesTrades
[08:59:02] * Now talking in #FuturesTrades
[08:59:02] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[09:26:31] <drt> gm all
[09:34:08] <LP> s 833.90 TF light
[09:34:24] <@wrbtrader> Shorts Emini TF @ 834.00 -> large size
[09:34:32] <@wrbtrader> :(
[09:35:19] <+LP> out +.80
[09:35:24] <+LP> 1 left
[09:35:56] <+LP> stop 833.50
[09:36:08] <+LP> out
[09:36:14] <+LP> +.40
[09:36:20] <Trendtrader> Long TF @ 833.5 «« simulator »»
[09:45:42] <@wrbtrader> Covered 2/3 Emini TF Short @ 832.50 --> + 1.5
[09:45:44] <@wrbtrader> Holding 2 contract remainders
[09:48:16] <@wrbtrader> geeesh
[09:51:13] <@wrbtrader> FYI - U.S. markets closed Monday Feb 21st for President's Holiday
[09:52:18] <+Trendtrader> Exited all TF Long @ 833.6 --> + 0.1 «« simulator »»
[09:52:53] <werner> gm all
[09:54:02] <Twin> gm
[09:54:34] <+werner> gm twin
[09:54:56] <@wrbtrader> Yeah...good morning all
[09:55:16] <+Twin> flakey cycle stuff says we are moving to TF 837.3 for a monthly cycle top
[09:55:47] <+Twin> but its too flakey to trust for trading
[09:55:49] <@wrbtrader> Eminis trying hard to find a some legs to stand up on after the dark hammer line on the 1min cahrt
[09:56:26] <+Twin> its a good hint though
[09:57:10] <@wrbtrader> The range of that long lower shadow of the dark hammer line is a key price area I'm watching closely to see if I should HOLD my remainders of the Short or reverse into a Long position
[09:58:08] <+Twin> the cycle story says break up right into a huge resist at 837.3
[09:58:17] <@wrbtrader> May get lucky if a "low volatility creeper down movement" occurs.
[10:00:25] <@wrbtrader> Covered Emini TF Short @ 833.50 --> + 0.5
[10:00:25] <@wrbtrader> Reverse and Enter Long Emini TF @ 833.50
[10:01:15] <+Twin> limit long TF 833.3
[10:07:01] <@wrbtrader> Exited all Emini TF Long @ 833.80 --> + 0.3
[10:11:56] <+werner> Shorts NQ @ 2393.75
[10:13:20] <+werner> Covered all NQ Short @ 2392..00 --> + 2393.75 - 2392..00
[10:13:45] <+werner> Covered all NQ Short @ 2392.00 --> + 1.75
[10:15:47] <+Trendtrader> Shorts TF @ 832.4 «« simulator »»
[10:18:29] <+Twin> scrached @ 833.4 (bad trade)
[10:18:39] <@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
[10:20:54] <+Twin> limit 832.7 , for this supposed break up
[10:21:19] <Time4now> Long TF @ 833.3 -> large size «« simulator »»
[10:23:54] <@wrbtrader> I'm still seeing long lower shadows on these intervals
[10:24:10] <+Twin> meaning buy pressure
[10:24:33] <+Time4now> Exited 1/3 TF Long @ 833.9 --> + 0.6 «« simulator »»
[10:25:13] <+Twin> it 'should' go down from the local pattern, but i guess its got a longer time pattern push up
[10:25:31] <+werner> djeez so fast...to fast to post entry's
[10:26:06] <+werner> bbl
[10:27:13] <+Time4now> Exited Remainder TF Long @ 833.7 --> + 0.4 «« simulator »»
[10:40:33] <+Time4now> creeper?
[10:40:53] <@wrbtrader> Yep...starting to show signs of such
[10:41:59] <@wrbtrader> Now that the volatility has declining a lot...I'm not going near this until it either gets above 835.50 or below 832.00
[10:42:41] <@wrbtrader> It's "too tight" now between 835.50 - 832.00 and can easily get chopped up in that price area.
[10:43:57] <@wrbtrader> Here's two message post to read if you're having "discipline problems" while trading...
[10:44:17] <@wrbtrader> One is by me at Traderslaboratory @ http://www.traderslaboratory.com/forums ... -9194.html
[10:44:26] <@wrbtrader> I post as wrbtrader there too.
[10:44:51] <+Twin> what a tough one, to get the low entry was too hard i was shaken out
[10:44:59] <@wrbtrader> The other is at Elitetrader.com @ http://www.elitetrader.com/vb/showthrea ... ost3095944
[10:45:17] <@wrbtrader> Summary for those that don't want to read...
[10:45:27] <+Time4now> lol
[10:45:48] <@wrbtrader> If you got discipline problems...YOU MUST maintain an in depth "trading diary".
[10:45:56] <+Twin> i think its going to do the same thing, consolidate and break higher, but danger as wrbtrader says of break low
[10:46:24] <@wrbtrader> If you're going to solicit help...you must maintain a PUBLIC "trading diary".
[10:46:54] <@wrbtrader> Thus, lurking or being quiet after mentioning such a few times doesn't cut it if you want to be profitable.
[10:47:22] <@wrbtrader> You need to be aggressive and a trade journal is the least you should do.
[10:47:59] <@wrbtrader> Also, you shouldn't be trading with "real money" if you're still "designing" your trade method.
[10:48:19] <@wrbtrader> The designing process is only for backtesting or simulator trading...not real money trading.
[10:48:56] <@wrbtrader> It's very common to develop disicipline problems while real money trading because you're still "designing" a method.
[10:49:07] <+Twin> if you have a big enough adv there are no displine probs, why would you take cruddy plays when you have good plays? So solution , is better tactics
[10:49:10] <@wrbtrader> That's the summary of those links I posted.
[10:50:31] <@wrbtrader> Twin...most traders use their real money trading to determine if they have an advantage or not.
[10:50:34] <@wrbtrader> That's the problem.
[10:50:45] <@wrbtrader> They should determine such PRIOR to real money trading.
[10:51:07] <+Twin> yup
[10:51:32] <+Twin> it makes me think they are thrill traders,
[10:51:44] <@wrbtrader> Yep
[10:52:12] <+Twin> they don'r really want profit, they like the thrill, losses are good for that too
[10:57:20] <+Twin> tough to get an entry
[10:59:56] <+Time4now> my real money losses were based on pure inexperience
[11:00:52] <+Twin> im realizing this is a 'really' hard game. there is a site i think its bigmiketrading? where all the posters have blown 3+ accounts
[11:01:56] <+Twin> its like the pictures of the big winners in las vegas, they don't tell you that most lose
[11:02:19] <+Twin> from bigmiketrading accounts, almost everyone looses
[11:02:29] <+Time4now> ouch
[11:02:44] <Hoff> 90% some say
[11:02:59] <+Time4now> I underestimated what it took to become profitable
[11:04:03] <+Time4now> all I can do is stick with it and see if things change with more experience
[11:04:06] <+Twin> its the las vegas effect , you only hear about wins , never loses
[11:05:23] <+Twin> thats the scary thing, i read through the 'trader profiles' at that site and they all had the american attitude of just keep trying, and they did and.. blew another account, scary
[11:05:57] <+Time4now> thats allways a possibility
[11:06:05] <+Time4now> hence the simulator
[11:09:16] <+Twin> also im realizing everything is personality oriented, most people are extroverts and can't help but go along with the consensus, which means they are natural trend traders, but the index mkt have not trended (until this last huge trend), so ... they can't win on indexs, they should be trading copper!
[11:09:21] <+Hoff> blowing an account requires the use of adding to loosers and ignoring reality in most cases
[11:09:46] <+Time4now> Long TF @ 835 -> small size «« simulator »»
[11:11:34] <+Twin> the blown accounts ive seen have been swing traders, its difficult to use stops overnight because they often hit on a spike, so...they don't use them, and then get trapped by an overnight huge move against them
[11:12:11] <+Hoff> yeah that too
[11:12:12] <+Time4now> Exited TF Long @ 835 --> 0 «« simulator »»
[11:15:33] <codehead> short ES 1340.00 <sim>
[11:16:10] <+codehead> late post cuz i was looking to see if i'd finished coding the script, but i haven't, was just set to NQ
[11:16:21] <+codehead> but testing a signal
[11:16:26] <+codehead> 11 tick stop
[11:17:06] <+codehead> exit +.25
[11:17:10] <+codehead> siganlled exit already
[11:19:42] <+Twin> i think TF is within 2 pts of a monthly swing high, if it looks ok, im trying to get short 837+ for a swing hold
[11:29:39] <+Twin> this cycle stuff is hard to test because the cycles are so long , you only have a few test cases
[11:33:13] <@wrbtrader> Ok...I'm back briefly...we're now above 835.50
[11:37:51] <+Twin> short, scalp target 835.8
[11:40:52] <+Twin> scratched , its hanging too long
[11:41:14] <+Twin> sry im talking too much
[11:42:02] <+Twin> im new to the TF so im trying to adapt
[11:43:33] <+werner> Long NQ @ 2397.75
[11:47:43] <+Twin> the way it moves here is interesting , slow and powerfull, gearing up for a big move
[11:48:39] <@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
[11:54:23] <+werner> Exited all NQ Long @ 2398.75 --> + 1
[11:54:31] <+werner> pff
[12:17:12] <+werner> sideline here
[12:18:01] <+werner> sup and res..range maybe
[12:21:04] <+Time4now> dx falling off
[12:25:06] <+werner> about 2 weeks here skiing in Ischgl .. I look forward to it .... http://www.ischgl.com/
[12:27:03] <+werner> http://www.ischgl.com/index.en.htm
[12:29:23] <+werner> Shorts NQ @ 2399.00
[12:30:48] <+werner> mm so slow
[12:35:23] <+Twin> well TF is > 837.3, its stronger than i expected
[12:37:43] <+Twin> more flakey cycles hint top on ES at roughly 2:30ET @ 1343.25
[12:38:36] <+werner> Covered all NQ Short @ 2397.75 --> + 1.25
[12:51:38] <+werner> Long NQ @ 2397.00
[12:54:18] <+werner> Exited all NQ Long @ 2397.75 --> + 0.75
[12:54:56] <+werner> smal trades
[12:55:16] <+werner> in the range
[12:58:13] <+Twin> 838.3 revised high estimate ETA 2:30 pm ET
[13:02:43] <+Twin> i put in the limit order short 838.3
[13:15:40] <@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
[13:17:31] <Time4now> cl broke lower, wasnt watching
[13:18:41] <+codehead> short YM 23
[13:19:06] <+codehead> short YM 12346
[13:19:13] <+codehead> 8 tick stop
[13:21:16] <+codehead> can't type...
[13:21:23] <+codehead> short YM 12349
[13:23:46] <+werner> Long NQ @ 2393.75
[13:24:44] <+werner> Exited all NQ Long @ 2394.75 --> + 1
[13:26:58] <+werner> 92.50 is pivot
[13:27:45] <+werner> lrts see if it breaks
[13:27:54] <+werner> or holt
[13:28:15] <+codehead> exit YM +1
[13:28:58] <+codehead> can't watch it righ tnow, long trend is weakened but not outright sell yet, should ahve gone with NQ, which has been weak past couple days
[13:29:01] <+werner> lrts =lets xee...
[13:30:42] <+werner> Shorts NQ @ 2391.75
[13:32:50] <+werner> Covered all NQ Short @ 2391.00 --> + 0.75
[13:32:55] <+werner> brrr
[13:33:08] <+werner> mmm
[13:35:23] <+werner> Shorts NQ @ 2388.00
[13:38:14] <+werner> Shorts NQ @ 2389.00 -> Add
[13:38:48] <+Twin> i missed the entry , i feel like a fool
[13:39:14] <+Twin> rats
[13:39:25] <+Time4now> there is allways another trade, according to WRB
[13:39:32] <+Twin> yup
[13:39:58] <+werner> Covered all NQ Short @ 2388.25 --> + 0.5
[13:40:15] <+werner> brr
[13:43:21] <+werner> djeez
[13:43:32] <+werner> nice sells
[13:44:04] <@wrbtrader> Just got back again...
[13:44:40] <@wrbtrader> Looks like nobody wants to hold their position going into a LONG WEEKEND (holiday on Monday) with the Bahrain situation very unstable.
[13:45:07] <+werner> :)
[13:47:02] <@wrbtrader> Interesting read about Bahrain debt cost @ http://www.marketwatch.com/story/cost-o ... 2011-02-18
[13:48:58] <@wrbtrader> Shorts Emini TF @ 833.00 -> small size
[13:49:09] <@wrbtrader> 2 contracts
[13:49:11] <@wrbtrader> intuition
[13:49:31] <+werner> no entry's here anymore..have a whisky coke here...and tomorrow ..racing whit my son a cross on his yamaha
[13:50:15] <+werner> gn all and see you all next week
[13:50:26] <+LP> bernie going to let emerging markets burn, bernie is not a inflation fighter, should be fun.... http://www.marketwatch.com/story/fed-wo ... _news_stmp
[13:50:34] <+LP> take care werner
[13:50:47] <+Time4now> Long TF @ 833.1 -> small size «« simulator »»
[13:50:49] <+werner> :) lp
[13:52:52] <+Time4now> Exited TF Long @ 833.3 --> + 0.2 «« simulator »»
[13:53:02] <@wrbtrader> Covered all Emini TF Short @ 833.20 --> - 0.2
[13:55:31] <+LP> i hope bernie still has an open mind, back to currency wars
[13:59:09] <+LP> wrb you need to start trading credit default swaps :) CDS seem to get all of the action now
[13:59:33] <@wrbtrader> Long Emini TF @ 834.40 -> small size
[13:59:43] <@wrbtrader> 3 contracts
[14:01:27] <@wrbtrader> Exited all Emini TF Long @ 833.90 --> - 0.5
[14:01:56] <@wrbtrader> noway will I believe I returned to trading into a range now :(
[14:02:22] <+Time4now> Shorts TF @ 833.6 -> small size «« simulator »»
[14:03:33] <+Time4now> will try to keep it tight
[14:05:38] <+Twin> good night werner
[14:05:59] <+Time4now> :(
[14:06:19] <+Time4now> Covered TF Short @ 8.4.4 --> + 833.6 - 8.4.4 «« simulator »»
[14:06:34] <+Time4now> Covered TF Short @ 834.4 --> - 0.8 «« simulator »»
[14:08:47] <@wrbtrader> Shorts Emini TF @ 834.00 -> medium size
[14:09:08] <@wrbtrader> it's getting a little choppy
[14:09:20] <@wrbtrader> 4 contracts
[14:10:35] <+Time4now> Shorts TF @ 833.9 -> small size «« simulator »»
[14:12:20] <+Time4now> no volatility
[14:12:24] <+Time4now> or low
[14:14:47] <+Time4now> Covered TF Short @ 833.4 --> + 0.5 «« simulator »»
[14:20:31] <@wrbtrader> Covered all Emini TF Short @ 832.80 --> + 1.2
[14:21:05] <+Time4now> gj
[14:22:00] <+Time4now> hmm, looks like they were waiting for you
[14:23:01] <@wrbtrader> Yep :(
[14:23:42] <@wrbtrader> I did get my WRB pt1 but the goal was a WRB pt2 (current price)
[14:24:06] <@wrbtrader> Anyways, got to run some more errands.
[14:24:14] <+Time4now> seeya
[14:24:18] <@wrbtrader> Take care all and have a good 3 day weekend
[14:24:32] <+LP> take care have fun :)
[14:24:57] <@wrbtrader> If I was a swing trader...I would be closing my position because there's too much unstability with the Bahrain situation for a long 3 day weekend.
[14:25:06] <@wrbtrader> Thanks LP
[14:25:22] * wrbtrader is now known as wrbtrader_away
[14:45:40] <@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
[15:37:13] <+Twin> i thought it would cycle high and then big mv dn at end of day for larger intermediate time move, but the early move dn, messed up that pattern
[15:37:42] <+Twin> im supprised by the rapid mv dn
[15:48:15] <+codehead> remember, it's options expiry
[15:48:33] <+codehead> full moon options expiry holiday weekend lol
[15:48:47] <+codehead> some jockeying
[15:50:35] <jammin> also Bradley turn date
[15:50:40] <+jammin> if anyone follows him
[15:53:44] <+Twin> thanks for reminder
[15:53:54] <+Twin> have a good WE
[16:12:40] <@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

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

#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
Business Hours: 8am - 5pm est (Mon - Fri)
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questions@thestrategylab.com
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