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 Post subject: February 24th Thursday - Futures, ETFs and Forex Currencies
 Post Posted: Thu Feb 24, 2011 4:58 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:
022411-Key-Price-Action-Markets.png
022411-Key-Price-Action-Markets.png [ 206.52 KiB | Viewed 218 times ]

click on the above image to view today's price action of key markets

Session Start: Thu Feb 24 09:13:17 2011
Session Ident: #FuturesTrades
[09:13:17] * Now talking in #FuturesTrades
[09:13:17] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[09:30:57] <drt> gm all
[09:34:23] <Trendtrader> gm all
[09:38:08] <@wrbtrader> Here's yesterday's evening chart I posted of a few key price areas I'm watching in case Emini TF moves higher @ http://chart.ly/jpl2p5d
[09:49:19] <+Trendtrader> Shorts TF @ 802.9 «« simulator »»
[09:50:30] <@wrbtrader> FYI - 10am est key economic report around the corner
[09:50:53] <+Trendtrader> Covered 1/2 TF Short @ 801.9 --> + 1 «« simulator »»
[09:51:08] <+Trendtrader> exit stop moved to breakeven TF @ 802.9 «« simulator »»
[09:55:40] <+Trendtrader> Covered Remainder TF Short @ 802.4 --> + 0.5 «« simulator »»
[09:57:10] <Sidhartha> new home sales in 5 min
[10:00:10] <@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
[10:02:12] <@wrbtrader> Shorts Emini TF @ 803.00 -> large size
[10:02:36] <@wrbtrader> 6 contracts
[10:04:03] <+Trendtrader> Shorts TF @ 801.7 «« simulator »»
[10:04:08] <@wrbtrader> trailing @ profit
[10:07:55] <@wrbtrader> Covered all Emini TF Short @ 802.80 --> + 0.2
[10:14:11] <+Trendtrader> Shorts TF @ 804.4 -> Add «« simulator »»
[10:17:09] <+Sidhartha> tough price action
[10:17:19] <@wrbtrader> Agree
[10:18:00] <+Sidhartha> glad to not be losing money in this
[10:19:12] <+Sidhartha> quite a few short signals but can't take them with higher highs forming like this
[10:19:58] <+Sidhartha> higher lows sorry
[10:20:34] <@wrbtrader> Yeah...that brief test of 806 has me thinking higher prices especially with the "low volatility chop" on higher lows
[10:21:57] <@wrbtrader> Long Emini TF @ 806.10 -> small size
[10:22:01] <@wrbtrader> 3 contracts
[10:22:26] <@wrbtrader> chaser...wanted 805.10
[10:24:01] <werner> gm all
[10:24:06] <@wrbtrader> price action suction me into "over-analysis" very easy as it was rising from 803.50 to 805.10
[10:24:46] <JB> short at ES as we reached yesterdays pullback high
[10:28:04] <@wrbtrader> Exited all Emini TF Long @ 805.80 --> - 0.3
[10:29:14] <@wrbtrader> Shorts Emini TF @ 805.00 -> large size
[10:29:52] <+Trendtrader> Covered all TF Short @ 803.9 --> - 1.7 «« simulator »»
[10:29:59] <@wrbtrader> 6 contracts
[10:30:46] <+Sidhartha> nat gas in 1 min
[10:31:26] <@wrbtrader> EIA Petroleum Status Report too
[10:31:50] <@wrbtrader> Covered all Emini TF Short @ 804.80 --> + 0.2
[10:32:08] <Time4now> Long TF @ 804.8 -> medium size «« simulator »»
[10:32:38] <@wrbtrader> wow...felt like the ocean splashed me when I saw that BLUE
[10:32:50] <+Time4now> ?
[10:33:03] <+Time4now> Exited TF Long @ 803.8 --> - 1 «« simulator »»
[10:33:23] <@wrbtrader> Shorts Emini TF @ 804.50 -> large size
[10:33:28] <@wrbtrader> 6 contracts
[10:33:42] <@wrbtrader> same trade as before after the rude "pick pocketing"
[10:34:20] <@wrbtrader> Time4Now...I was talking about your BLUE color trade post on that Long of 804.80
[10:34:43] <+Time4now> not good?
[10:35:06] <@wrbtrader> It's ok :)
[10:36:00] <@wrbtrader> Emini TF trying hard to develop support
[10:36:26] <+Time4now> it's not intentional, I just dont see what you see
[10:37:11] <@wrbtrader> You changed the colors in your trade script ?
[10:37:13] <+Time4now> I would not have taken it anyway If I had read sidhartha's message
[10:37:50] <+Time4now> yep
[10:44:36] <+Sidhartha> oil hitting some reistance
[10:47:24] <@wrbtrader> trailing @ profit
[10:49:17] <@wrbtrader> I just heard that EIA Petroleum Status report is 11am est...my econ calendar was wrong @ 1030am est...they've now corrected that :(
[10:49:40] <+JB> for news a good place is www.finviz.com
[10:49:48] <@wrbtrader> Yep
[10:49:58] <+JB> at the bottom fo the page they have the news for the day and if you click you will see the schedule for the week
[10:50:09] <@wrbtrader> http://www.finviz.com/news.ashx
[10:51:19] <+Time4now> Long TF @ 802.5 -> large size «« simulator »»
[10:51:26] <+JB> long ES
[10:51:45] <@wrbtrader> tighten trail @ profit
[10:53:38] <+Time4now> Exited TF Long @ 802.6 --> + 0.1 «« simulator »»
[10:55:31] <@wrbtrader> Covered all Emini TF Short @ 803.00 --> + 1.5
[10:57:01] <@wrbtrader> Was hoping I could stay in that trade until the release of the 11am est key economic report
[11:05:20] <+Time4now> Long TF @ 802.4 -> medium size «« simulator »»
[11:06:51] <+Time4now> Exited TF Long @ 802.1 --> - 0.3 «« simulator »»
[11:08:58] <+Sidhartha> here comes the chop....
[11:09:03] <+Time4now> Long TF @ 802.6 -> medium size «« simulator »»
[11:10:54] <@wrbtrader> volatility has been choppy today so far...it shows up and then disappears...repeating many times
[11:12:07] <codehead> when crude dumped to lows after the peak a couple years ago, i bought USO in the 20's...
[11:12:25] <+codehead> my lowest add was 23.85, something like 15 cents from the bottom is i recall correctly...
[11:12:44] <+codehead> i sold the last of it at 41, almost two years ago
[11:12:53] <+codehead> it finally got back up to 41 today
[11:13:13] <+codehead> think about that--crude has been going higher, higher, higher
[11:13:29] <+codehead> and USo jsut getting back to where it was on bounce almost 2 years ago
[11:13:41] <+codehead> major slippage on ETF versus the underlying
[11:14:01] <+codehead> many ETF really suck for long term holding
[11:14:28] <+codehead> and the 3x ones are suicide to hold long term, because they trend down inherently
[11:15:35] <+Time4now> Exited TF Long @ 801.6 --> - 1 «« simulator »»
[11:15:39] <+Time4now> not doing well today
[11:15:45] <+codehead> the 3x funds must get reverse split periodically jsut to stay at reasonable price
[11:16:02] <+codehead> direcxion rev-split 6 ETFs today
[11:16:56] <+Sidhartha> yeah I saw an article online that basically spelt out the maths of the 3x ETF's... and like you say, they are sucide for long term holding... it's like holding an option that loses time value every day
[11:18:13] <+codehead> a couple years ago, i went short FAS and FAZ equal dollar amounts
[11:18:20] <+codehead> yields nice steady return
[11:18:37] <+codehead> at the time, they even allowed margin buying
[11:18:44] <+codehead> so it was ridiculous
[11:19:07] <+codehead> i took profit and bail when they got rid of the margin tho
[11:20:26] <+codehead> i would have continued to make money tho--FAS is half what it was at my exit, and FAZ i think was half or less
[11:20:37] <+codehead> it's inherent in the design
[11:21:03] <+codehead> just pick the most volatile, because slippage is proportional to how much it moves up and down
[11:21:26] <+codehead> so many people don't understand that they are only 3x intraday
[11:21:39] <+codehead> well, not even that technically
[11:21:53] <+codehead> but i mean, they only track each other in reverse intraday
[11:22:35] <+codehead> the long and short funds
[11:23:03] <+codehead> but both have inherent slippage, if they move from day to day
[11:27:10] <@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
[11:31:38] <+Time4now> Long TF @ 801.2 -> small size «« simulator »»
[11:33:08] <+Time4now> Exited TF Long @ 802.3 --> + 1.1 «« simulator »»
[11:42:11] <+Time4now> Long TF @ 799.5 -> small size «« simulator »»
[11:43:29] <+Time4now> Exited TF Long @ 800.6 --> + 1.1 «« simulator »»
[11:45:17] <+werner> Shorts NQ @ 2302.25
[11:47:13] <+werner> Covered all NQ Short @ 2299.50 --> + 2.75
[11:52:00] <+werner> maybe es some sup here
[12:31:49] <@wrbtrader> Lower highs and lower lows in Emini TF for awhile
[12:57:11] <@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
[13:13:49] <+werner> dam es still sup
[13:57:58] <+werner> Long NQ @ 2286.00
[13:58:32] <+werner> Exited all NQ Long @ 2288.00 --> + 2
[14:01:19] <+codehead> same lod as yesty--i was on a phone clal and didn't get to see if the big order was sitll there, but i suppose so
[14:01:24] <+werner> Long NQ @ 2288.25
[14:01:48] <+werner> 2290.00
[14:02:02] <+werner> Exited all NQ Long @ 2290.00 --> + 1.75
[14:02:45] <+werner> nq at yesterdays lod
[14:05:27] <+werner> ym sup at prev monthly low
[14:07:26] <+werner> tf sup at prev quaterly high
[14:10:18] <+werner> so i think lomg the hl
[14:10:42] <+werner> Long NQ @ 2294.00
[14:12:41] <+werner> Exited all NQ Long @ 2296.00 --> + 2
[14:14:23] <+werner> nice day here so far
[14:15:30] <+werner> wosa
[14:16:10] <+codehead> wow oil
[14:16:46] <Time4now> yeesh
[14:17:19] <+werner> look at nq
[14:17:31] <+werner> v shape
[14:17:31] <+Sidhartha> whta's going on... news?
[14:19:01] <+Sidhartha> oil collapsing.... gold collapsing
[14:19:13] <+Sidhartha> markets rallying like crazy
[14:19:14] <+werner> i think db at 2285.00 at nq
[14:20:07] <+werner> and the sup m tf
[14:20:58] <+werner> [20:06] <+werner> tf sup at prev quaterly high
[14:20:58] <+werner> [20:09] <+werner> so i think lomg the hl
[14:24:11] <@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
[14:24:36] <+werner> gn all
[14:29:41] <+Sidhartha> feels like some news in the market... but i'm not seeing anything
[14:32:16] <+codehead> yeah, crude dumped 2.5 like a rock
[14:57:00] <+codehead> wow, Apple/Intel Thunderbolt interface--10Gbps bidirectional, nice
[15:09:37] <+Sidhartha> reason Oil tanked was apparently a rumour circulating that Gadaffi was dead...
[15:23:29] <Twin> I went long ES @1293.75, I think its Long Term (famous last words) as in new highs
Session Close: Thu Feb 24 15:28:57 2011

Session Start: Thu Feb 24 15:28:57 2011
Session Ident: #FuturesTrades
[15:28:57] * Disconnected
[15:30:37] * Attempting to rejoin channel #FuturesTrades
[15:30:47] * Rejoined channel #FuturesTrades
[15:30:47] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[15:33:57] <+Sidhartha> turing into a bit of a creeper uptrend
[15:52:46] <@wrbtrader_away> 4pm est rush hour traffic appraoching
[15:52:52] * wrbtrader_away is now known as wrbtrader
[15:54:12] <@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)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


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