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 Post subject: September 26th Monday - Futures, ETFs and Forex Currencies
 Post Posted: Mon Sep 26, 2011 4:10 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/viewtopic.php?f=5&t=180

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:
092611-Key-Price-Action-Markets.png
092611-Key-Price-Action-Markets.png [ 527.64 KiB | Viewed 183 times ]

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

Session Start: Mon Sep 26 09:25:17 2011
Session Ident: #FuturesTrades
[09:25:17] * Now talking in #FuturesTrades
[09:25:17] <@X> [NihabaAshi] chat room archives @ viewforum.php?f=20
[09:26:13] <wave1> gm all N
[09:26:59] <@wrbtrader> Good morning wave1
[09:27:04] <@wrbtrader> Good morning all
[09:27:25] <golface15> gm
[09:29:34] <drt> gm
Quote:
[09:30:28] <@wrbtrader> Key Market Event @ 10am est via New Home Sales Report

[09:30:58] <+wave1> y
[09:35:50] <@wrbtrader> Shorts Emini TF @ 652.60 -> small size
[09:36:02] <@wrbtrader> 3 contracts
[09:37:13] <@wrbtrader> Covered all Emini TF Short @ 654.60 --> - 2
[09:37:27] <+wave1> need to be careful S the pops still the way it seems
[09:39:05] <@wrbtrader> Shorts Emini TF @ 652.30 -> medium size
[09:39:15] <@wrbtrader> 2+2
[09:41:11] <@wrbtrader> Covered all Emini TF Short @ 651.20 --> + 1.1
[09:41:39] <+wave1> vn N need to move the stop or else ...
[09:42:01] <@wrbtrader> So far its really not doing too much...chopping around
[09:42:07] <+wave1> y
Quote:
[09:42:33] <@wrbtrader> The actual move down started earlier around 0735am est

[09:44:51] <@wrbtrader> Long Emini TF @ 653.50 -> small size
[09:44:57] <@wrbtrader> 2+1
[09:45:21] <@wrbtrader> Exited all Emini TF Long @ 652.50 --> - 1
[09:45:36] <@wrbtrader> Shorts Emini TF @ 652.00 -> large size
[09:45:46] <@wrbtrader> 3+3
[09:45:47] <+wave1> hmm big up/down bars on 1m
[09:51:49] <+wave1> still chop
[09:54:39] <@wrbtrader> Covered all Emini TF Short @ 650.60 --> + 1.4
[09:55:04] <@wrbtrader> More volatility contraction has shown up along with choppy price action.
[09:55:46] <@wrbtrader> This is that type of price action where you can be right on the direction and still get losses :(
[09:58:34] <+wave1> y
[09:59:25] <@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
[09:59:27] <dallasm> report at 10 am
[10:00:55] <+wave1> vix gave some direction to the S
[10:00:59] <+wave1> earlier
[10:04:18] <@wrbtrader> Geeesh...where's the volume and volatility ?
[10:04:36] <@wrbtrader> Starting to feel like a "government shutdown" (pun intended)
[10:04:38] <@wrbtrader> :)
[10:06:04] <+wave1> lol
Quote:
[10:06:18] <@wrbtrader> "Shutdown looms as Congress debates FEMA funding" @ http://money.cnn.com/2011/09/26/news/ec ... ?iid=HP_LN

[10:08:28] <+wave1> wow more red
[10:08:34] <@wrbtrader> Shorts Emini TF @ 644.90 -> small size
[10:08:40] <@wrbtrader> 3 contracts
[10:08:43] <@wrbtrader> support failure
[10:11:25] <@wrbtrader> Covered all Emini TF Short @ 643.70 --> + 1.2
[10:11:35] <+wave1> geez I hesitate these S failure but wd N
[10:13:03] <@wrbtrader> The support/resistance failure trades is a new type of trade I've been working hard on for several months for adding to my current trading plan
[10:13:42] <+wave1> the way gap closed S failure will work
[10:13:44] <@wrbtrader> It's the only reason why I'm very "aggressive" in trading them because I need a ton of info for analysis.
Quote:
[10:15:11] <@wrbtrader> I strongly believe that it's best to learn to trade both sides of the support or both sides of the resistance as in "go with the direction or fade it".
[10:15:43] <@wrbtrader> Thus, I don't want to have "tunnel vision" via only seeing support as a Long opportunity.

[10:15:57] <@wrbtrader> I want to see support as a possible Short opportunity too
[10:16:31] <+wave1> y here it makes sense with overall direction too ...plus gap close
[10:18:44] <+wave1> L es 25.5 papaer
[10:22:07] <@wrbtrader> Long Emini TF @ 643.60 -> small size
[10:22:11] <@wrbtrader> 3 contracts
[10:24:57] <@wrbtrader> Exited all Emini TF Long @ 645.30 --> + 1.7
[10:25:10] <@wrbtrader> I see a ton of 1 contract trades today...
[10:25:30] <+wave1> out 29
[10:25:38] <@wrbtrader> I guess I'm not the only one spooked by the "low volume" or "low volatility".
[10:27:00] <@wrbtrader> I reached my profit goal for the day...will lower my position size a little more and go into profit protection mode.
[10:29:44] <+dallasm> You got there early with this type of market, BRAVO!
[10:38:26] <@wrbtrader> Shorts Emini TF @ 641.80 -> small size
[10:38:31] <@wrbtrader> 1 contract
[10:40:34] <@wrbtrader> Covered Emini TF Short @ 641.60 --> + 0.2
[10:41:19] <@wrbtrader> Long Emini TF @ 644.00 -> small size
[10:41:23] <@wrbtrader> 1 contract
[10:41:44] <@wrbtrader> should have gone with 2 contracts on that increasing volatility
[10:42:37] <@wrbtrader> Exited Emini TF Long @ 645.10 --> + 1.1
[11:29:26] <@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
[11:31:18] <@wrbtrader> Lots of contraction still especially off the intraday lows to now
[11:42:38] <@wrbtrader> Emini TF back to where it started at 0930am est and the other Eminis are close too
[12:04:23] <@wrbtrader> * Eurex FDAX price action trading
[12:04:56] <@wrbtrader> * SPY price action trading
[12:12:39] <T4n_paper2> Shorts TF @ 652.2 -> medium size «« simulator »»
[12:12:56] <+T4n_paper2> Covered 1/2 TF Short @ 651.2 --> + 1 «« simulator »»
[12:14:04] <+T4n_paper2> Covered TF Short @ 651.3 --> + 0.9 «« simulator »»
[12:35:52] <kman1969> .
Quote:
[12:36:11] <@wrbtrader> Today is actually a normal volatility trading day prior to all the global economic problems and problems in the middle east worsen in 2011
[12:36:13] <+T4n_paper2> low volatility
[12:36:52] <@wrbtrader> Thus, low volatility like what we saw in 2010

[12:37:32] <+T4n_paper2> At least I can see in this stuff when the volatility falls off
[12:45:23] <+T4n_paper2> volatility spike
[12:55:38] <@wrbtrader> As U.S. Markets Near 52-Week Low, How Far Can They Fall?
[12:55:38] <@wrbtrader> See full article from DailyFinance: http://srph.it/rn17YB
[12:55:38] <@wrbtrader> @ http://www.dailyfinance.com/2011/09/26/ ... they-fall/
[12:59:25] <@wrbtrader> support developing for Emini ES, YM, TF and NQ
[12:59:26] <@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
[13:01:26] <+T4n_paper2> Shorts TF @ 645.4 -> medium size «« simulator »»
[13:01:52] <@wrbtrader> Emini YM support failure
[13:02:02] <+T4n_paper2> Covered TF Short @ 645.3 --> + 0.1 «« simulator »»
[13:02:45] <@wrbtrader> Shorts Emini TF @ 645.00 -> small size
[13:02:52] <@wrbtrader> 2 contracts
[13:03:07] <+T4n_paper2> guess i'll let that one go
[13:03:45] <@wrbtrader> tighten stop loss
[13:08:45] <@wrbtrader> Covered all Emini TF Short @ 645.70 --> - 0.7
[13:10:46] <@wrbtrader> Shorts Emini TF @ 645.20 -> small size
[13:10:53] <@wrbtrader> 2 contracts
[13:11:02] <@wrbtrader> same trade (re-entry)
[13:12:08] <@wrbtrader> WRB pt1 reached
[13:13:41] <@wrbtrader> trailing @ profit
[13:13:58] <+T4n_paper2> nice reentry
[13:14:07] <@wrbtrader> that was the easy part...
[13:14:23] <@wrbtrader> Hard part is the trade management after entry...it's a little choppy
[13:14:30] <+T4n_paper2> No kidding, it tested your entry a few times!
[13:14:43] <@wrbtrader> Yep
[13:15:34] <@wrbtrader> Covered all Emini TF Short @ 644.50 --> + 0.7
[13:16:51] <@wrbtrader> :(
[13:17:01] <@wrbtrader> Very tough trade
[13:17:43] <@wrbtrader> Shorts Emini TF @ 644.60 -> small size
[13:17:47] <@wrbtrader> 2 contracts
[13:17:54] <@wrbtrader> intuition re-entry
[13:21:23] <@wrbtrader> Covered all Emini TF Short @ 645.60 --> - 1
[13:23:55] <@wrbtrader> Long Emini TF @ 645.20 -> small size
[13:24:02] <@wrbtrader> 2 contracts
[13:29:19] <@wrbtrader> Exited all Emini TF Long @ 645.40 --> + 0.2
[13:34:49] <@wrbtrader> Shorts Emini TF @ 644.90 -> small size
[13:34:58] <@wrbtrader> 2 contracts
[13:35:14] <@wrbtrader> didn't think it would pull back again
[13:35:27] <@wrbtrader> after it got above 646 again
[13:36:05] <@wrbtrader> tighten stop loss
[13:36:42] <@wrbtrader> trailing @ profit
[13:38:28] <@wrbtrader> Covered all Emini TF Short @ 643.90 --> + 1
[13:39:38] <@wrbtrader> basically I'm just churning over the past 5 trades...only the broker is getting paid
[13:39:47] <@wrbtrader> :(
[13:43:27] <@wrbtrader> Long Emini TF @ 644.10 -> small size
[13:43:32] <@wrbtrader> 2 contracts
[13:44:33] <@wrbtrader> Exited all Emini TF Long @ 643.10 --> - 1
[13:46:21] <@wrbtrader> Long Emini TF @ 643.80 -> small size
[13:46:40] <@wrbtrader> same trade (re-entry)
[13:51:24] <@wrbtrader> Exited all Emini TF Long @ 644.00 --> + 0.2
[14:01:50] <@wrbtrader> nice looking volatility spike
Quote:
[14:01:52] <+T4n_paper2> Volatility spike
[14:02:34] <@wrbtrader> will most likely be followed by the volatility contraction we've seen all day so far after every volatility spikes
[14:05:11] <+T4n_paper2> Volatility spiking nearly every 30 mins

[14:26:27] <@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
[15:19:21] <+T4n_paper2> I'm overanalyzing everything
[15:19:36] <+T4n_paper2> guess that meens i'm frozen
[15:48:52] <@wrbtrader> just got back from a long break
[15:49:18] <@wrbtrader> 4pm est rush hour traffic around the corner
[15:49:41] <@wrbtrader> * price action trading
[15:54:49] <@wrbtrader> Long Emini TF @ 660.00 -> small size
[15:54:55] <@wrbtrader> 1 contract
[15:56:14] <@wrbtrader> volatility spike
[15:56:27] <@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
[15:57:36] <@wrbtrader> tighten stop loss
[15:58:59] <@wrbtrader> trailing @ profit
[15:59:29] <@wrbtrader> tighten trail profit @ Close of WRB Hidden GAP
[16:00:22] <@wrbtrader> Exited Emini TF Long @ 661.80 --> + 1.8
[16:01:14] <@wrbtrader> Long Emini TF @ 661.60 -> small size
[16:01:20] <@wrbtrader> 2 contracts
[16:02:36] <@wrbtrader> Exited all Emini TF Long @ 661.20 --> - 0.4
[16:04:21] <@wrbtrader> Long Emini TF @ 661.30 -> small size
[16:04:29] <@wrbtrader> weird spread
[16:04:38] <@wrbtrader> 2 contracts
[16:08:03] <@wrbtrader> trailing @ profit
[16:09:13] <@wrbtrader> Exited all Emini TF Long @ 662.00 --> + 0.7
[16:11:35] <codehead> nice
[16:12:43] <@wrbtrader> :)
[16:35:25] <@wrbtrader> It was an easy going trading day mainly because of the overall volatility contraction.
[16:35:32] <@wrbtrader> Take care all and see all tomorrow
[16:35:38] * wrbtrader is now known as wrbtrader_away

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

#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 because sometimes the answers contains useful trading tips.

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 UsdCad

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)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


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