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 Post subject: March 23rd Wednesday - Futures, ETFs and Forex Currencies
 Post Posted: Wed Mar 23, 2011 6:48 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:
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click on the above image to view today's price action of key markets

Session Start: Wed Mar 23 07:15:30 2011
Session Ident: #FuturesTrades
[07:15:30] * Now talking in #FuturesTrades
[07:15:30] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[09:28:02] <@wrbtrader> Good morning all
[09:29:35] <rickf> gm ;)
[09:29:59] <@wrbtrader> I've password protected #FuturesTrades to better determine whom are registered members of the support forums (free and fee-base) and whom have actually followed the "password, log-in instructions" after they joined the forums.
[09:30:18] <drt> gm all
[09:31:41] <Trendtrader> Shorts TF @ 804 «« simulator »»
[09:32:01] <+Trendtrader> Covered 1/2 TF Short @ 803 --> + 1 «« simulator »»
[09:33:15] <+Trendtrader> exit stop moved to breakeven TF @ 803.9 «« simulator »»
[09:35:26] <+Trendtrader> Covered Remainder TF Short @ 802.8 --> + 1.2 «« simulator »»
[09:36:30] <+rickf> short es 1284
[09:38:04] <werner> gm all
[09:41:41] <+rickf> exit es 1292 +2 (late)
[09:41:52] <+rickf> 1282
[09:43:01] <+rickf> looking lower
[09:45:28] <+werner> Shorts NQ @ 2240.75
[09:47:16] <+werner> Covered all NQ Short @ 2241.75 --> - 1
[09:47:43] <+werner> Long NQ @ 2242.50
[09:48:34] <+werner> Exited all NQ Long @ 2244.00 --> + 1.5
[09:52:53] <@wrbtrader> nice
[09:54:23] <+werner> :)
[09:54:30] <+werner> news in 5 min
[09:55:48] <+rickf> vn
[09:56:49] <+werner> tx rickf
[09:59:02] <+rickf> hope everyone is well -- been a while since i was here :(
[09:59:32] <+werner> ok here :)
[09:59:41] <+werner> and you?
[09:59:49] <@wrbtrader> We had 29 users yesterday and only 4 active posters.
[10:00:05] <pat255> gm all
[10:00:07] <+rickf> 'new' job going very well -- great first semester for the program.
[10:00:19] <@wrbtrader> Today I put the password back to help me determine whom are registered.
[10:00:22] <+rickf> i actually did a few trades via blackberry during that time, walking around campus
[10:00:33] <@wrbtrader> Glad to hear things are well for you
[10:00:55] <+rickf> thx wrbtrader -- i missed y'all. :)
[10:01:14] <+werner> ok very nice rickf
[10:01:19] <+rickf> 4 posters? wow. :(
[10:02:32] <+rickf> short es 1282
[10:10:20] <+werner> Shorts NQ @ 2240.50
[10:10:55] <+rickf> exit es 1279.75 +2.25
[10:11:36] <+rickf> looking lower but don'tlike the action
[10:11:48] <+werner> Covered all NQ Short @ 2237.50 --> + 3
[10:11:53] <+rickf> vn
[10:12:02] <+werner> :)
[10:12:07] <+pat255> vn guys ...geez charts all scewed
[10:12:18] <@wrbtrader> same here
[10:12:24] <@wrbtrader> just got them fixed
[10:12:39] <@wrbtrader> I accidentally change some default settings
[10:12:45] <+werner> vn nice rickf ..i did not see your exit:(
[10:13:12] <@wrbtrader> Had to go get my saved templates to re-install how I have my charts setup
[10:13:12] <+rickf> ] rickf: exit es 1279.75 +2.25 10:10am
[10:13:20] <+rickf> thx pat
[10:13:30] <+werner> yes i saw it late
[10:13:47] <+werner> tx
[10:15:59] <+werner> Long NQ @ 2234.50
[10:17:38] <+werner> Exited all NQ Long @ 2235.50 --> + 1
[10:20:31] <+werner> Crude Oil Inventories in 10 min
[10:27:53] <@wrbtrader> Price action is now waiting for the 1030am est EIA Petroleum Status report
[10:28:00] <+pat255> y
[10:28:16] <@wrbtrader> that's why some volatility contraction showed up in the recent few intervals
[10:33:28] <+pat255> L nq 41.25 paper
[10:33:41] <+pat255> 40.25
[10:38:30] <@wrbtrader> Wow...so far no reaction in the Eminis or Oil
[10:38:35] <@wrbtrader> That's weird
[10:38:48] <T_182> Why is 6E getting squirrely?
[10:38:54] <@wrbtrader> Meant...very "little" reaction
[10:39:06] <+pat255> yup
[10:39:17] <+pat255> out -1 nq
[10:41:37] <@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
[10:41:53] <+rickf> European debt back in ppl's minds again
[10:46:30] <@wrbtrader> Emini TF needs to go a little lower to possibly get into position for a setup
[10:46:49] <@wrbtrader> Oopps...it just did while I was writing :)
[10:49:10] <+T_182> Shorts EuroFX 6E @ 1.4116 «« simulator »»
[10:49:11] <@wrbtrader> By the way, the downtrend started while around 7am est
[10:49:35] <+pat255> trend is down try L & failed twice
[10:49:42] <@wrbtrader> Thus, don't feel bad about missing anything...not much you could do unless you were trading around 7am est
[10:50:48] <+rickf> back in a bit
[10:51:05] <+werner> Consumer Confidence in 10 min
[10:54:02] <@wrbtrader> I don't have a consumer confidence report on my economic calendar
[10:54:13] <@wrbtrader> I have one for Friday
[10:54:37] <@wrbtrader> at 0955am est
[10:54:43] <+T_182> Covered all EuroFX 6E Short @ 1.4123 --> - 0.0007 «« simulator »»
[10:55:08] <wiseguy7600> eurozone consumer confidence
[10:55:16] <@wrbtrader> Ahhh...thanks
[10:55:17] <+wiseguy7600> non-event
[10:56:07] <@wrbtrader> I forgot to look at my international economic calendar...was only looking at the U.S. calendar
[10:56:43] <@wrbtrader> FED Chairman Bernanke speaks today at 12noon est
[10:58:46] <+werner> ow sorry wrbtrader did not see your post
[10:59:07] <+werner> indd eurozone
[11:04:12] <@wrbtrader> Long Emini TF @ 797.10 -> large size
[11:08:22] <@wrbtrader> :(
[11:09:32] <@wrbtrader> Exited all Emini TF Long @ 797.40 --> + 0.3
[11:11:25] <@wrbtrader> That low volatility contraction on a price rise off the lows was too tough for me to manage :(
[11:11:47] <+werner> Long NQ @ 2244.75
[11:11:51] <+werner> wow
[11:12:30] <@wrbtrader> yep :(
[11:12:41] <+werner> Exited all NQ Long @ 2247.00 --> + 2.25
[11:23:49] <Time4now> Shorts TF @ 799.6 -> small size «« simulator »»
[11:25:19] <+werner> Long NQ @ 2246.50
[11:27:27] <+werner> Exited all NQ Long @ 2249.00 --> + 2.5
[11:27:48] <+pat255> vn
[11:27:55] <+werner> tx pat
[11:28:03] <+Time4now> Covered TF Short @ 800.6 --> - 1 «« simulator »»
[11:29:05] <+werner> bbl
[11:29:12] <+T_182> Shorts EuroFX 6E @ 1.4115 «« simulator »»
[11:33:20] <+T_182> Covered all EuroFX 6E Short @ 1.4123 --> - 0.0008 «« simulator »»
[11:33:32] <+T_182> deja vue all over again
[11:36:57] <@wrbtrader> I had my chance...great entry but got my trail stop picked pocketed.
[11:37:13] <@wrbtrader> Unfortunately there was no "re-entry" signal for me :(
[11:39:06] <+Time4now> Shorts TF @ 802.6 -> small size «« simulator »»
[11:42:55] <+Time4now> Covered TF Short @ 803.4 --> - 0.8 «« simulator »»
[11:47:15] <+rickf> back
[11:48:25] <@wrbtrader> That seems to have been the theme so far for the recent trading days...
[11:48:33] <@wrbtrader> Very few trade opportunities...
[11:49:01] <@wrbtrader> Thus, if you miss a trade signal...most likely you spent the rest of the trading day doing nothing.
[11:49:20] <+rickf> yes....eeriliy flat
[11:49:36] <@wrbtrader> Yet, on the positive note...great time to develop and practice being patient.
[11:52:05] <+T_182> Shorts EuroFX 6E @ 1.4103 «« simulator »»
[11:52:36] <+Time4now> Shorts TF @ 803.6 -> small size «« simulator »»
[11:52:40] <+Time4now> last try
[12:00:26] <+Time4now> Covered TF Short @ 803.4 --> + 0.2 «« simulator »»
[12:00:55] <+T_182> Covered all EuroFX 6E Short @ 1.4099 --> + 0.0004 «« simulator »»
[12:08:37] <@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
[12:17:02] <+pat255> later guys ty all
[12:22:28] <@wrbtrader> The low volatility contraction in a sideways market has shown up.
[12:23:48] <+werner> back
[12:24:26] <@wrbtrader> Long Emini TF @ 803.60 -> small size
[12:24:34] <@wrbtrader> 3 contracts
[12:24:39] <@wrbtrader> intuition
[12:26:20] <@wrbtrader> volatility spike out of the contraction
[12:26:34] <+werner> yep nice one
[12:26:53] <@wrbtrader> now regretting not getting Long at exactly 1222pm est
[12:27:44] <@wrbtrader> Exited all Emini TF Long @ 805.70 --> + 2.1
[12:28:42] <@wrbtrader> Some gap fills occurring now in different markets
[12:34:24] <+rickf> nice
[12:37:34] <@wrbtrader> I'm bearish but is that low volatility creeper price rise shows up...
[12:38:00] <@wrbtrader> Too much negative stuff going on in the world
[12:38:06] <+rickf> unless i have compelling reason, i don't trade the mid-days much if ever
[12:38:12] <+rickf> but yeah overall bearish in my view
[12:38:33] <@wrbtrader> However, this creeper price rise on low volatility off the lows has me rethinking my bias
[12:38:36] <+rickf> past few months the 7-1030 sessions were nice
[12:38:53] <@wrbtrader> Thus, need to better manage my position size for the remainder of the day
[12:42:14] <+Time4now> don't options traders have the ability to make money in low volatility?
[12:44:24] <+Time4now> or i should say shallow price action
[12:44:26] <+rickf> yes they can put on 'neutral' trades
[12:44:43] <Sidhartha> they sell volatility basically... yes
[12:44:46] <+rickf> very popular strategy is the 'iron condor" on the indices (SPX, RUT) etc
[12:45:20] <+rickf> or sell straddles/strangles -- ie being short both ends of the spread. Profitable but can kill you on a vol spike :)
[12:46:22] <+Time4now> thanks
[12:46:31] <+Time4now> options get a bit confusing for me
[12:46:47] <+rickf> me too -- which is why i don't do much of them ... too many moving parts to worry about
[12:46:50] <+Time4now> futures are simple enough to understand
[12:49:08] <+rickf> yeah -- tho there are options on futures, too :)
[12:49:20] <+rickf> which becomes a derivative of a derivative lol
[12:50:22] <+Time4now> getting exotic
[12:50:57] <+rickf> nowdays i pretty much only sell puts on stock i want to own and the occasional vertical spread. keep it simple
[12:51:20] <+rickf> and sometimes a covered call or two
[12:51:46] <+rickf> but you hear radio ads all the time about "15 minutes a day can make you a millionaire using options" and I want to laugh
[12:52:00] <+rickf> (just buy my program)
[12:52:10] <+rickf> (just learn my secret)
[12:52:14] <+rickf> etc
[12:52:19] <+Time4now> yeah
[12:52:24] <+Time4now> hear those all the time
[12:52:47] <+Time4now> for all markets
[12:53:04] <+rickf> One guy says he made millions in 2009 and 2010 using options — well, yeah: anyone who just picked a stock and went long could have done well during that time, too.
[12:53:17] <+rickf> I almost went off the road in hysterics
[12:54:04] <@wrbtrader> :)
[12:54:07] <+Time4now> those are just the perks of being profitable
[12:54:34] <+Time4now> if I made millions trading, i'd make millions more selling my "secret"
[12:55:36] <+rickf> those ads are preying on the people wanting a qukck fix to get-rich-now ... not learn the markets for life
[12:56:01] <@wrbtrader> That's what a lot of star athletes do during their peak and after they retire.
[12:56:39] <+rickf> true
[12:56:40] <@wrbtrader> I still remember Michael Jordan doing underwear commercials while leading the Chicago Bulls to multiple NBA titles
[12:57:20] <+Time4now> he still sells underwear
[12:57:29] <@wrbtrader> The guy was making millions from basketball but still trying to make more dough by doing "Hanes underwear commercials".
[12:57:31] <+Time4now> wasn't he selling to charlie sheen?
[12:57:38] <@wrbtrader> Yeah...that's right :)
[12:57:43] <+rickf> but in your case ... you teach, you have a method that you sell education on. I'm sure you get a ton of folks looking for the secret to getting rich quick, which I presume you turn away
[12:57:52] <@wrbtrader> He was in a underwear commercial with Charlie Sheen
[12:58:04] <+rickf> because you're looking to develop serious traders not imitators. (i think)
[12:58:22] <@wrbtrader> Yep
[12:58:53] <+Time4now> trading is tough to do in real time
[12:59:18] <+Time4now> but i'm a hindsight champ
[12:59:34] <+rickf> lol
[13:00:01] <@wrbtrader> Well...if I could start my life all over again...
[13:00:34] <@wrbtrader> I would enroll at MIT or Harvard and team up with Bill Gates in the early PC development stages
[13:00:35] <@wrbtrader> :)
[13:01:00] <+Time4now> or sell underwear
[13:01:29] <@wrbtrader> I wore Hanes in high school...it's not that bad :)
[13:02:15] <+rickf> amen to that! i kind of had that excitement working during Dot Com ... a very fun time in my life
[13:02:43] <+rickf> right as the Net really began to take off .... and thankfully I got out before the bubble burst
[13:02:51] <+rickf> ahh, fun days
[13:02:55] <@wrbtrader> Yeah...I regret not following through on my "facebook" or "twitter" ideal back in the 90's
[13:02:57] <@wrbtrader> :)
[13:03:03] <+rickf> lol
[13:38:38] <@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
[14:19:02] <@wrbtrader> Gotta be careful with Short positions on a "low volatility price rise".
[14:19:27] <+rickf> zH: Portugal statement expected at 8 pm GMT.
[14:19:34] <+rickf> 45m
[14:20:20] <+Time4now> yes, i feal the high risk
[14:22:36] <+Time4now> now i just see flat price action...
[14:51:01] <+Time4now> [14:19] <wrbtrader> Gotta be careful with Short positions on a "low volatility price rise".
[14:55:21] <+rickf> Portuguese President Ready To Accept PM Resignation: Press
[14:55:26] <+rickf> http://imarketnews.com/node/28245
[14:55:58] <+T_182> L8tr
[14:58:00] <codehead>  Shorts NQ @ 2272.00 
[14:59:14] <+codehead>  Exited all NQ @ 2270.50 
[15:05:38] <@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
[15:33:44] <+werner> Shorts NQ @ 2272.50
[15:35:38] <+werner> Covered all NQ Short @ 2271.25 --> + 1.25
[15:52:25] <+werner> Long NQ @ 2270.50
[15:54:46] <+werner> Exited all NQ Long @ 2271..00 --> + 2271..00 - 2270.50
[15:55:05] <+werner> Exited all NQ Long @ 2271.00 --> + 0.5
[15:57:55] <+rickf> see you tomorrow guys
[16:02:51] <+werner> gn all
[16:35:39] <@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
[16:50:02] <@wrbtrader> Take care all and see all tomorrow
[16:50:09] * wrbtrader is now known as wrbtrader_away
Session Close: Wed Mar 23 16:52:53 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/wide range bar 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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