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 Post subject: February 23rd Wednesday - Futures, ETFs and Forex Currencies
 Post Posted: Wed Feb 23, 2011 5:39 pm 
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Joined: Tue Dec 16, 2008 1:02 am
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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:
022311-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: Wed Feb 23 09:17:14 2011
Session Ident: #FuturesTrades
[09:17:14] * Now talking in #FuturesTrades
[09:17:14] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[09:19:29] <pat255> gm all wrbtrader
[09:30:55] <drt> gm all
[09:34:34] <Trendtrader> Long TF @ 810.8 «« simulator »»
[09:36:13] <+Trendtrader> Exited TF Long @ 811 --> + 0.2 «« simulator »»
[09:36:13] <+Trendtrader> Reverse and Enter Short TF @ 811 «« simulator »»
[09:36:51] <@wrbtrader> Good morning all
[09:37:26] <+pat255> gm N
[09:47:15] <+Trendtrader> Shorts TF @ 813.4 -> Add «« simulator »»
[09:48:29] <+Trendtrader> Covered all TF Short @ 811.9 --> + 0.6 «« simulator »»
[09:51:45] <+pat255> L ES 11.75 paper
[09:52:47] <+Trendtrader> Shorts TF @ 809.2 «« simulator »»
[09:53:00] <+pat255> out -1
[09:54:14] <@wrbtrader> Hude gap to the upside in the Advance Decline Lines makes it look ugly :)
[09:54:22] <@wrbtrader> Hude = Huge
[09:56:08] <Sidhartha> exisiting home sales in 5 min
[09:56:43] <+Trendtrader> Covered 1/2 TF Short @ 808.9 --> + 0.3 «« simulator »»
[09:57:16] <+Trendtrader> exit stop moved to breakeven TF @ 809.2 «« simulator »»
[09:58:00] <+Trendtrader> Covered Remainder TF Short @ 809.1 --> + 0.1 «« simulator »»
[10:01:41] <@wrbtrader> Oil CL futurs and Gold GC futures still going higher
[10:04:11] <+Sidhartha> serious chop the past 15 mins
[10:10:30] <@wrbtrader> Support broken
[10:10:37] <+pat255> y
[10:18:02] <@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
[10:23:17] <@wrbtrader> If your wondering how to get in on the big downtrend...
[10:23:53] <@wrbtrader> It started soon after 7am est and you would have needed to be ready to trade at that time.
[10:24:05] <@wrbtrader> I wasn't...I was still asleep in bed :)
[10:24:42] <@wrbtrader> Here's a chart I posted yesterday on Emini TF and key price areas to watch @ http://chart.ly/d8kp5rf
[10:25:41] <+pat255> ty N will check it .
[10:25:45] <+pat255> that was great trade
[10:25:52] <@wrbtrader> That lower WRB Zone is the price area where that downtrend started around 0715am est.
[10:26:12] <@wrbtrader> pat255...I didn't trade it this morning...I was asleep.
[10:26:34] <@wrbtrader> I'm talking about that lower WRB Zone...not the one at the top of the chart
[10:26:43] <+pat255> tes ...refer to the S u took yesterday
[10:26:46] <+pat255> yes
[10:34:46] <Time4now> Shorts TF @ 810.1 -> small size «« simulator »»
[10:35:56] <+Time4now> Covered TF Short @ 809.1 --> + 1 «« simulator »»
[10:36:23] <+Time4now> lol, i need to " let profits ride" some times
[10:45:00] <+pat255> missed S on ES ..
[10:45:13] <+pat255> mkt is all heading dowb
[10:54:51] <@wrbtrader> Long Emini TF @ 807.80 -> large size
[10:55:14] <+Sidhartha> oil heading up...
[10:55:41] <@wrbtrader> high risk trade for me because usually I'll do only a 1 - 3 contract position in this type of price action
[10:59:43] <@wrbtrader> Exited 1/2 Emini TF Long @ 808.90 --> + 1.1
[10:59:49] <@wrbtrader> Holding 3 contracts
[11:00:53] <@wrbtrader> By the way, I still do have a "bearish bias" since yesterday but as you know I manage my bias not via the type of trade I make but via my "position size".
[11:01:21] <@wrbtrader> Simply, in price action like this I usually go normal size on Short positions and small size on Long positions
[11:01:53] <@wrbtrader> This particular trade I went large size on a Long position and that's something I normally don't do because of the increased risk
[11:02:07] <Twin> the 7am time slot, i call it the duck hunting time slot,got to make a pt of getting up early
[11:02:19] <+Twin> laughs
[11:04:16] <@wrbtrader> Exited Remainder Emini TF Long @ 808.10 --> + 0.3
[11:07:20] <pat255> back vn N
[11:12:59] <werner> hi all
[11:18:51] <+Twin> hi
[11:20:56] <@wrbtrader> weak support broken but theres another one below that's very close
[11:31:09] <+pat255> just breaking down
[11:33:20] <+Sidhartha> not much to guide us below this... you gotta look back over a week
[11:44:23] <@wrbtrader> Yep
[11:44:53] <@wrbtrader> The move downward was "signalled" prior to 0930am est.
[11:45:48] <@wrbtrader> Not much to grap onto AFTER 0930am est
[11:47:11] <@wrbtrader> However, with all the stuff occurring in the middle east or northern africa (e.g. Libya)...
[11:47:55] <@wrbtrader> We're going to see more "trade opportunities" being signaled in the early morning hours before the U.S. markets regular session starts (0930am est).
[11:48:02] <@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
[11:48:37] <@wrbtrader> I have no intentions of getting out of bed a few hours early in hopes of catching a trade signal :)
[11:49:28] <@wrbtrader> The old saying is true...not every day is tradable.
[12:03:24] <@wrbtrader> Geeesh...you gotta move to the 60 min chart to see any possible key price areas...
[12:03:41] <@wrbtrader> I'm not willing to take any trades via the 60 min charts unless I was going to swing trade
[12:08:40] <@wrbtrader> Uprisings all over the world...Middle East, Greece and Wisconsin.
[12:08:47] <@wrbtrader> :)
[12:10:01] <@wrbtrader> :) for Wisconsin protestors at the state capital and the fact that the state representives "left the state".
[12:10:34] <@wrbtrader> Kind'uv tough to keep this bull run moving higher under such pressure from world events.
[12:10:56] <@wrbtrader> Will be very interesting to see the price action for the remainder of the week.
[12:31:41] <@wrbtrader> At first glance it looks bad but the Dow is only down about -93 points
[12:31:55] <@wrbtrader> so far :)
[12:33:49] <Time4now> my charts are up, not really paying much attention though
[12:34:17] <+Time4now> this type of price action doesnt warrant much
[12:34:27] <@wrbtrader> Emini TF counter-thrust now...hopefully it'll setup a few trades
[12:48:32] <@wrbtrader> Shorts Emini TF @ 796.10 -> small size
[12:49:28] <@wrbtrader> 3 contracts
[12:52:24] <@wrbtrader> volatility contraction
[12:52:39] <@wrbtrader> hopefully it develops into another "creeper down movement".
[12:53:37] <+Sidhartha> target the LOD...?
[12:53:57] <@wrbtrader> Yes...exactly
[12:54:20] <+Sidhartha> lets hope oil starts supporting the down move
[12:54:32] <@wrbtrader> However, I'm cautious because it has a "very good chance" to setup something bullish prior to reaching the LOD
[12:54:47] <@wrbtrader> tightning stop/loss
[12:57:12] <@wrbtrader> Covered Emini TF Short @ 796.00 --> + 0.1
[12:57:32] <@wrbtrader> Long Emini TF @ 796.20 -> small size
[12:57:40] <@wrbtrader> 3 contracts
[12:58:47] <@wrbtrader> I'm not trading to get ticks...trying to get points but will take a few ticks if something changes in the price action AFTER my entry.
[13:02:13] <@wrbtrader> Exited all Emini TF Long @ 796.50 --> + 0.3
[13:04:12] <@wrbtrader> Long Emini TF @ 796.70 -> small size
[13:04:18] <@wrbtrader> 3 contracts
[13:04:43] <@wrbtrader> intuition in reaction to the prior trade trail stop being "pick pocketed".
[13:11:21] <@wrbtrader> Exited Emini TF Long @ 796.80 --> + 0.1
[13:12:28] <@wrbtrader> For a few minutes there it started me thinking it will reach a profit target...wasn't meant to be :(
[13:15:03] <@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
[13:18:52] <@wrbtrader> now you know why I kepted tight stops and then trailed them quickly on those Long positions
[13:19:05] <+Time4now> indeed
[13:19:14] <@wrbtrader> another support broken and now Emini TF looks to threaten it's LOD
[13:19:45] <@wrbtrader> Unfortunately I didn't get any Short signals when taken out of those Long positions :(
[13:22:35] <+werner> Long NQ @ 2286.00
[13:24:05] <+werner> Exited all NQ Long @ 2289.00 --> + 3
[13:24:16] <codehead> nice
[13:24:23] <+werner> tx
[13:24:42] <+codehead> i went long twice in that area, the second i should have just trailed the stop
[13:25:08] <+codehead> made a little on both, but second one was a keeper
[13:25:23] <+codehead> after it held up that large bid and got some space
[13:25:56] <@wrbtrader> Nice quick bounce in Emini TF...first time all day I see it do that
[13:28:14] <+codehead> hey werner--you notice that big bid got eaten down to... 666?
[13:28:28] <+codehead> then price got scared and ran up form it--lol
[13:29:04] <+codehead> never say it go below 666
[13:29:38] <+werner> i dont know :)
[13:30:40] <+werner> i saw second pivot there
[13:31:20] <+werner> 83.50 .d and 85.50 all ses
[13:33:24] <+Time4now> Shorts TF @ 796.7 -> small size «« simulator »»
[13:34:44] <+werner> ym also second pivot at that time
[13:36:18] <+werner> and rut here res at second pivot at 98.40
[13:36:33] <+Time4now> Covered TF Short @ 796.6 --> + 0.1 «« simulator »»
[13:40:14] <@wrbtrader> Long Emini TF @ 797.80 -> small size
[13:40:23] <@wrbtrader> 3 contracts
[13:40:26] <@wrbtrader> intuition
[13:49:19] <@wrbtrader> Exited all Emini TF Long @ 797.50 --> - 0.3
[13:50:44] <@wrbtrader> I'm expecting a volatility spike here soon...doesn't matter to the direction.
[13:50:53] <@wrbtrader> Will try to jump on whatever shows up
[13:53:10] <@wrbtrader> Long Emini TF @ 797.90 -> medium size
[13:53:18] <@wrbtrader> 4 contracts (2+2)
[13:53:49] <+Time4now> looking like creeper
[13:58:05] <@wrbtrader> I'm no longer with a bearish bias...I'm back to neutral
[13:59:34] <+Time4now> Shorts TF @ 799 -> medium size «« simulator »»
[14:02:39] <+Time4now> Covered TF Short @ 799.7 --> - 0.7 «« simulator »»
[14:05:54] <@wrbtrader> Exited 3/4 Emini TF Long @ 801.00 --> + 3.1
[14:06:54] <@wrbtrader> caught that volatility spike that I was expecting as stated a few messages ago
[14:07:06] <+Time4now> :)
[14:24:15] <@wrbtrader> Exited Remainder Emini TF Long @ 803.00 --> + 5.1
[14:28:30] <+Time4now> Shorts TF @ 802.7 -> medium size «« simulator »»
[14:32:13] <+Time4now> Covered TF Short @ 802.6 --> + 0.1 «« simulator »»
[14:34:01] <+Time4now> data problems
[14:34:30] <+Time4now> Long TF @ 802.5 -> small size «« simulator »»
[14:34:45] <+Time4now> Exited TF Long @ 803 --> + 0.5 «« simulator »»
[14:45:03] <@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
[15:34:06] <@wrbtrader> Lets see if these higher lows continue since the LOD
[15:42:10] <@wrbtrader> Long Emini TF @ 803.40 -> small size
[15:42:17] <@wrbtrader> 2 contracts
[15:42:38] <Leopard> thanks wrb and gn
[15:43:00] <@wrbtrader> Take care
[15:45:16] <@wrbtrader> Exited all Emini TF Long @ 802.60 --> - 0.8
[16:06:12] <Time4now> Long TF @ 798.4 -> medium size «« simulator »»
[16:06:26] <+Time4now> .3
[16:08:11] <+Time4now> Exited 1/2 TF Long @ 798.5 --> + 0.1 «« simulator »»
[16:08:25] <+Time4now> +.2
[16:08:40] <+werner> gn all
[16:09:02] <+Time4now> Exited Remainder TF Long @ 797.1 --> - 1.3 «« simulator »»
[16:09:50] <+Time4now> 798.1
[16:12:04] <@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
[16:14:34] <+Time4now> Long TF @ 798.5 -> small size «« simulator »»
[16:15:25] <+Time4now> Exited TF Long @ 797.5 --> - 1 «« simulator »»
[16:19:45] <+Time4now> glad I got burned, now maybe I wont do it again next time
[16:22:42] <@wrbtrader> Unfortunately that's one of the best ways to learn trading...from our mistakes.
[16:35:46] <@wrbtrader_nothere> Take care all and see all tomorrow
[16:35:54] * wrbtrader_nothere is now known as wrbtrader_away
[16:35:54] <+Time4now> bye

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

#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)
Skype Messenger: kebec2002
questions@thestrategylab.com
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