##TheStrategyLab Price Action Chat Room Logs

Note: The chat log below represents the free chat room called #FuturesTrades . Also, any trader can use the chat room to post their trades regardless if they use indicators or price action only trading (no indicators). Simply, we do not know what trading methods are being used by some members even though TheStrategyLab.com fee-base resources are price action only trading (no indicators).

Our primary job in the free chat room is to moderate the room (keep the peace) when members using different trading methods are giving their market analysis while posting trades. 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 advertisments for guest visitors. More information about #FuturesTrades @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm

Further, 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 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.

Also, 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.

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

Session Start: Wed Jul 08 08:27:05 2009
Session Ident: #futurestrades
[08:27] * Now talking in #futurestrades
[08:27] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[08:28] <@NihabaAshi> Good morning all...the user name RacerX is also me on my other computer that's located in a different part of the house.
[08:28] <rickf>
[08:55] <OICU812> Good morning
[09:00] <Alturus> "/setupFT"
[09:07] <@X> #FuturesTrades Info -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm. Also, do not mimic (shadow) trades of others without their permission.
[09:29] <drt> good morning
[09:31] <+luffy>
[09:33] <+rickf> hi
[09:38] <jigglyhippo> all
[09:40] <@NihabaAshi> 1030am est EIA Petroleum Status Report
[09:41] <+drt> l es 79
[09:43] <@NihabaAshi> Long TF @ 483.60 -> small size
[09:43] <@NihabaAshi> 3 only
[09:44] <+rickf> short es 880.25
[09:45] <@NihabaAshi> Exited 1/3 TF Long @ 485.00 --> + 1.4
[09:46] <+drt> cl es 82
[09:47] <jbuch> nice drt
[09:49] <@NihabaAshi> Exited Remainder TF Long @ 484.00 --> + 0.4
[09:49] <pdays> Shorts ES @ 882.0
[09:49] <+pdays> Covered all ES Short @ 881.5 --> + 0.5
[09:52] <@NihabaAshi> tricky price action this morning so far
[09:52] <+rickf> out 80.50 -.25
[09:53] <+rickf> total mis-read on my part
[09:56] <+drt> l es 79.75
[09:56] <@NihabaAshi> Someone asked me the other day about the price action differences between ES and TF
[09:56] <@NihabaAshi> Volume and volatility is obvious...ES has more of it.
[09:57] <@NihabaAshi> However, here's something I've noticed about the order fills...
[09:57] <+rickf> yeah
[09:57] <+rickf> i'm back to the TF on paper
[09:57] <@NihabaAshi> For example, if I do a 3 contract trade in ES...
[09:57] <@NihabaAshi> I can get filled on one print for 3 contracts or two prints of 2 + 1 involving ES.
[09:58] <@NihabaAshi> In contrast, for TF, the same 3 contracts often show 2 + 1 (2 prints) or 1 + 1 + 1 (3 prints)
[09:58] <@NihabaAshi> That's what I've noticed so far.
[09:58] <+rickf> indeed - a lot of 2-lot prints
[09:59] <@NihabaAshi> Further, in the past years when TF was known as ER2 on the CME...
[10:00] <@NihabaAshi> The same 3 contract prints in ER2 was similar to what we saw in ES.
[10:00] <+drt> cl es 79.25
[10:01] <@NihabaAshi> Another thing...ICE exchange doesn't advertise as much as the CME when they should to keep trading instruments like TF more liquid.
[10:01] <+luffy> today seems easy range fading
[10:02] <+luffy> too bad didn't take any trades...
[10:03] <+rickf> short TF 482.80 paper
[10:05] * codehead_afk is now known as codehead
[10:07] <@NihabaAshi> Shorts TF @ 482.70 -> small size
[10:07] <@NihabaAshi> 2 only
[10:08] <@NihabaAshi> We have Oil and Gold helping on these shorts now.
[10:09] <+rickf> out 482.10 +.70 paper
[10:10] <@NihabaAshi> Covered all TF Short @ 482.60 --> + 0.1
[10:11] <@NihabaAshi> Shorts TF @ 482.70 -> small size
[10:11] <@NihabaAshi> 2 only
[10:11] <@NihabaAshi> intution in reaction to prior Short
[10:11] <+jbuch> Shorts ES @ 881.25
[10:13] <@NihabaAshi> trail @ profit
[10:13] <@NihabaAshi>
[10:13] <+jbuch> Covered all ES Short @ 881 --> + 0.25
[10:13] <@NihabaAshi> Covered all TF Short @ 482.60 --> + 0.1
[10:14] <+rickf> weird tape today
[10:14] <+rickf> bloomie says market will be goofy until AA earnings tonight
[10:15] <TradeLancer> crude oil @ 10:30
[10:15] <+jbuch> 19 billion 10 year auction at 1 pm est
[10:15] <@NihabaAshi> Long TF @ 482.40 -> small size
[10:16] <@NihabaAshi> 2 only
[10:17] <@NihabaAshi> trail @ profit
[10:18] <+rickf> i'm finding the 133 at 233t charts are quite tradable on the TF
[10:18] <+rickf> can't trade that fast on the ES -- no way
[10:21] <@NihabaAshi> Exited all TF Long @ 483.70 --> + 1.3
[10:25] <+pdays> Shorts ES @ 883.0
[10:25] <+pdays> Covered all ES Short @ 882.0 --> + 1
[10:29] <TraderG> 10:30am USD Crude Oil Inventories
[10:29] <+luffy> long
[10:29] <+luffy> 881
[10:30] <Awash> good morning all
[10:31] <@NihabaAshi> weak support area
[10:31] <+luffy> stopped
[10:31] <+luffy> too weak
[10:32] <+TraderG> 10:30am USD Crude Oil Inventories -2.9M -2.8 expected
[10:39] <@NihabaAshi> Long TF @ 480.30 -> small size
[10:39] <@NihabaAshi> 2 only
[10:43] <@NihabaAshi> Exited all TF Long @ 480.10 --> - 0.2
[10:43] <skeet> 1
[10:43] <@NihabaAshi> may re-enter the Long
[10:45] <@NihabaAshi> Long TF @ 480.70 -> small size
[10:45] <@NihabaAshi> 2 only
[10:50] <@NihabaAshi> Exited all TF Long @ 480.20 --> - 0.5
[10:52] <+rickf> back in a bit
[10:53] <@NihabaAshi> Long TF @ 481.00 -> small size
[10:53] <@NihabaAshi> 2 only
[10:54] <+Awash> narrow range today
[10:54] <werner> all
[10:55] <@NihabaAshi> Exited all TF Long @ 480.50 --> - 0.5
[10:56] <@NihabaAshi> Yes an volatility is getting tighter and tighter
[10:57] <+Awash> Shorts YM @ 8130
[10:58] <@NihabaAshi> It could do like yesterday...find stability by 12noon...go sideways in a tighter narrow range until late in the trading day when it decides to move after every body has given up
[10:58] <+Awash> true
[10:59] <@NihabaAshi> Shorts TF @ 479.70 -> small size
[10:59] <@NihabaAshi> 3 only
[11:01] <+Awash> one quick question wrbtrader, what's TF?
[11:02] <@NihabaAshi> Covered 2/3 TF Short @ 478.50 --> + 1.2
[11:02] <@NihabaAshi> formerly known as ER2
[11:02] <+Awash> k
[11:05] <codehead> long ES 876.50 <paper>
[11:05] <@NihabaAshi> volatility declining fast...
[11:05] <+codehead> 7 tick stop
[11:06] <@NihabaAshi> I'm expecting a price spike here soon.
[11:06] <@NihabaAshi> Don't know which direction
[11:06] <@NihabaAshi> tightning trailing stop @ profit
[11:07] <@NihabaAshi> Covered Remainder TF Short @ 477.00 --> + 2.7
[11:08] <+codehead> stopped -1.75 ES <paper>
[11:08] <+Awash> we're getting a good push thru ES support, on nice volume
[11:09] <+codehead> major breakdown
[11:09] <@NihabaAshi> Key markets declined in sync.
[11:09] <+codehead> put/call relatively high
[11:13] <@X> #FuturesTrades Info -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm. Also, do not mimic (shadow) trades of others without their permission.
[11:21] <+jbuch> Long ES @ 873
[11:22] <+Awash> Covered 1/2 YM Short @ 8080 --> + 50
[11:22] <+jbuch> Exited all ES Long @ 872.25 --> - 0.75
[11:22] <+Awash> holding one more
[11:23] <+Awash> once we fall off the cliff here, does anyone have any major support below this level
[11:24] <+Alturus> Long ES @ 871
[11:34] <+Alturus> Exited ES Long @ 872 --> + 1
[11:35] <+jbuch> Long ES @ 871.75
[11:37] <+jbuch> Exited Remainder ES Long @ 872.5 --> + 0.75
[11:49] <+jbuch> Shorts ES @ 873
[11:55] <+Awash> nice jbuch
[11:56] <+jbuch> Covered all ES Short @ 870 --> + 3
[11:56] <+jbuch> thanks awash
[11:57] <+Awash> buy limit to cover YM short @ 8030
[11:58] <+Awash> got to go run an errand, be back in a half hour
[11:58] <+Awash> targets/stops set
[11:58] <+Awash> will post after the fact if they are filled
[11:58] * Awash is now known as Awash_afk
[12:16] <+jbuch> Long ES @ 870.25
[12:19] <+jbuch> Exited all ES Long @ 868.75 --> - 1.5
[12:21] <Nesi> hi all
[12:28] <+jbuch> Shorts ES @ 867.25
[12:30] <+jbuch> Covered all ES Short @ 866.75 --> + 0.5
[12:30] <+Nesi> Long ES @ 867.00
[12:39] <+Nesi> Exited all ES Long @ 866.25 --> - 0.75
[12:42] <+Nesi> Long ES @ 867.25
[12:46] * Awash_afk is now known as Awash
[12:49] <+Awash> decided to cover remainder short
[12:50] <+Awash> Covered all YM Short @ 8067 --> + 63
[12:50] <+jbuch> Shorts ES @ 868.75
[12:52] <+jbuch> Covered all ES Short @ 869.25 --> - 0.5
[12:52] <+Nesi> Exited all ES Long @ 869.00 --> + 1.75
[12:52] <+jbuch> nice nesi
[12:53] <+Nesi> thx
[12:54] <@NihabaAshi> Ok...just got back from an early but long lunch.
[13:01] <+Nesi> Long ES @ 869.50
[13:06] <@NihabaAshi> amsg FYI - To prevent someone from stealing your user name or impersonating you...just type the following command line /msg NS register password
[13:06] <+jbuch> treasury auction went well
[13:06] <@NihabaAshi> Replace the word "password" with an actual password (numbers or letters or mixed)
[13:08] <+Awash> Shorts YM @ 8093
[13:12] <+jbuch> dangit tried to catch that short 3 times
[13:12] <+Awash> what price are you trying to get?
[13:13] <+jbuch> at first I was at 871.75 then 871.5 then 871.25.
[13:13] <+jbuch> keeep hitting it and not filling
[13:13] <+Awash> understood
[13:14] <+jbuch> looks like it is going to try and get back up there again
[13:14] <+Awash> lots of contracts on that offer price
[13:14] <+Awash> hopefully you get filled
[13:16] <@X> #FuturesTrades Info -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm. Also, do not mimic (shadow) trades of others without their permission.
[13:17] <+Nesi> Exited all ES Long @ 872.00 --> + 2.5
[13:18] <+jbuch> Shorts ES @ 871.75
[13:21] <+Awash> only one contract on this one
[13:21] <+Awash> will add if we push higher to average into my short
[13:25] <@NihabaAshi> got some ISP connection problems here
[13:25] <jbuch> Covered all ES Short @ 871.5 --> + 0.25
[13:26] <rickf> back
[13:27] <rickf> lost track of time .... too gorgeous a day to be trading
[13:29] <Awash> Shorts YM @ 8110 -> Add
[13:33] <Awash> Average 8102
[14:10] <Nesi> Long ES @ 869.25
[14:10] <Awash> buy limit to cover YM short @ 8049
[14:11] <jbuch> Shorts ES @ 869.25
[14:11] <Awash> need to go outside for a second, brb
[14:11] <Awash> orders set
[14:11] <codehead> long ES 868.00 <paper> stop 865.00, target 870.00
[14:12] <codehead> trying this trade, but lod is not the low
[14:12] <jbuch> Covered all ES Short @ 868 --> + 1.25
[14:12] <codehead> maybe for today, but not a bounce point
[14:19] <Nesi> Exited all ES Long @ 868.00 --> - 1.25
[14:20] <Nesi> Long ES @ 868.00
[14:21] <jbuch> Long ES @ 868.5
[14:21] <Nesi> Long ES @ 869.00
[14:22] <Nesi> Long ES @ 869.00 -> Add
[14:22] <Nesi> it was an add
[14:25] <jbuch> Exited all ES Long @ 868 --> - 0.5
[14:26] <tomosyn57> Shorts SSO @ 23.46
[14:26] <Nesi> Exited all ES Long @ 867.00 --> - 4
[14:28] <Nesi> Long ES @ 867.50
[14:30] <jbuch> Shorts ES @ 867.5
[14:33] <Reno> Shorts ES @ 867 «« paper »»
[14:34] <Nesi> Exited all ES Long @ 866.00 --> - 1.5
[14:34] <tomosyn57> exit stop set SSO @ 23.4
[14:34] <jbuch> Covered all ES Short @ 865.5 --> + 2
[14:34] <Awash> late post
[14:34] <Reno> Covered 1/2 ES Short @ 865.75 --> + 1.25 4,0 «« paper »»
[14:34] <Awash> but i was filled
[14:35] <Awash> Covered all YM Short @ 8049 --> + 105
[14:35] <tomosyn57> exit stop lowered SSO @ 23.38
[14:35] <jbuch> nice awash
[14:35] <Reno> Covered all ES Short @ 866.75 --> + 0.25 4,0 «« paper »»
[14:35] <Nesi> Long ES @ 866.50
[14:35] <Awash> +53 points from my average of 8102
[14:35] <tomosyn57> Trailing Stop Hit SSO @ 23.38 --> + 0.08
[14:36] <Awash> thanks jbuch, market did a repeat of yesterday's action with a deeper pullback
[14:36] <Awash> just like yesterday during lunch
[14:36] <jbuch> yeah exact
[14:36] <Awash> couldn't pass it up
[14:37] <jbuch> three push up and all
[14:38] <Nesi> Long ES @ 867.50 -> Add
[14:40] <codehead> exit ES +.25 <paper>
[14:41] <jbuch> Shorts ES @ 868.25
[14:42] <codehead> consumer confidence at top of hour
[14:43] <Reno> Long ES @ 868.75 «« paper »»
[14:44] <jbuch> should be some people trapped here looking to bail
[14:45] <Reno> Exited all ES Long @ 867.50 --> - 1.25 «« paper »»
[14:45] <Reno> like me
[14:50] <Reno> Shorts ES @ 867 4,0 «« paper »»
[14:50] <rickf> jeez
[14:51] <jbuch> Covered all ES Short @ 867.5 --> + 0.75
[14:51] <rickf> been waiting for a fill on SPX options spread for nearly an hour, and it's traded through the price several times already
[14:51] <Reno> Covered all ES Short @ 868.25 --> - 1.25 «« paper »»
[14:52] <rickf> i know these things are hard to fill but .... sheesh
[14:54] <Reno> Shorts ES @ 870.25 «« paper »»
[14:55] <Reno> Covered all ES Short @ 871.50 --> - 1.25 «« paper »»
[14:55] <TradeLancer> consumer credit @ 3pm, that was a big $ move off bottom, but volumes than the drop, so let's see what happens after 3pm
[14:55] <rickf> ahh that's right -- forgot about that
[14:56] <TradeLancer> volumes up lower than dw, sorry
[14:56] <Nesi> exit stop set ES @ 867.25
[14:58] <jbuch> that was a strong move up someone must know something.
[14:58] <rickf> heheh good to short from a higher move up
[15:01] <Nesi> 15:00ET U.S. MAY CONSUMER CREDIT DOWN $3.23 BILLION [MKW]
[15:01] <jbuch> Shorts ES @ 870.5
15:03] <rickf> short TF 474.10 paper
[15:03] <Reno> Shorts NQ @ 1401.50 «« paper »»
[15:03] <Nesi> bad numbers and we are not selling
[15:03] <Nesi> so...
[15:03] <jbuch> Covered all ES Short @ 870.5 --> 0
[15:04] <Reno> Covered all NQ Short @ 1404 --> - 2.5 «« paper »»
[15:04] <Reno> geesh, calling it a day
[15:04] <jbuch> better than expected
[15:04] <Nesi> if takes 872.50 it may get some moro mojo..imho
[15:07] <jbuch> Shorts ES @ 871.75
[15:09] <jbuch> Covered all ES Short @ 872.5 --> - 0.75
[15:10] <jbuch> Shorts ES @ 871.5
[15:11] <X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[15:11] <rickf> outt tf 474.00 +.1 paper
[15:12] <jbuch> Covered all ES Short @ 871 --> + 0.5
[15:13] <Nesi> feels like coiling
[15:13] <Nesi> to 874 or so..imho
[15:14] <jbuch> looks like dumping
[15:14] <Nesi> u mean i am in the dark side?
[15:15] <jbuch> Shorts ES @ 871.75
[15:11] <+rickf> outt tf 474.00 +.1 paper
[15:12] <+jbuch> Covered all ES Short @ 871 --> + 0.5
[15:13] <+Nesi> feels like coiling
[15:13] <+Nesi> to 874 or so..imho
[15:14] <+jbuch> looks like dumping
[15:14] <+Nesi> u mean i am in the dark side?
[15:15] <+jbuch> Shorts ES @ 871.75
[15:17] <+jbuch> Covered all ES Short @ 871.75 --> 0
[15:18] <+Nesi> here we go probably
[15:18] <+jbuch> Long ES @ 871.5
[15:19] <+jbuch> Exited all ES Long @ 872 --> + 0.5
[15:19] <+jbuch> and I missed th reentry short
[15:19] <+jbuch> dangit
[15:19] <+codehead> ES same size bounce as earlier one
[15:20] <+codehead> +7.75
[15:20] <+Nesi> nice code
[15:21] <+jbuch> nice code head
[15:21] <+TradeLancer> wild swings in both directions, but no followthru
[15:21] <+Awash> done for today
[15:21] <+Awash> good night all
[15:21] <+Nesi> take care awash
[15:21] <+Awash> happy trading the remainder of this session
[15:22] <+Nesi> another try here
[15:22] <@X> #FuturesTrades Info -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm. Also, do not mimic (shadow) trades of others without their permission.
[15:22] <+Nesi> still coiling..imho
[15:26] <+Nesi> Exited ES Long @ 870.00 --> + 3.5
[15:26] <+Nesi> Reverse and Enter Short ES @ 870.00
[15:26] <+jbuch> Shorts ES @ 870
[15:27] <+jbuch> phewwwwww
[15:28] <+Nesi> Covered all ES Short @ 870.00 --> - 2.5
[15:29] <+jbuch> Covered all ES Short @ 869.75 --> + 0.25
[15:29] <+Nesi> that was a mistake... i had a breakeven exit
[15:31] <+Nesi> Long ES @ 870.50
[15:35] <+Nesi> Long ES @ 871.00 -> Add
[15:44] <@NihabaAshi> I had a disconnection problem earlier via problems with my ISP and most likely will get disconnected again...can someone email their copy of the log between 1pm to 3:15pm est
[15:45] <@NihabaAshi> The entire log is ok too...please email to intradaystrategies@yahoo.com
[15:45] <@NihabaAshi> Thanks
[15:45] <+Nesi> Exited all ES Long @ 876.50 --> + 11.5
[15:45] <+Nesi> i will do it..wrbtrader
[15:45] <@NihabaAshi> Thanks Nesi
[15:45] <+jbuch> nice nesi
[15:46] <+Nesi> took lots of patience
[15:46] <+Nesi> i am done
[15:46] <+Nesi> decent green points
[15:46] <@NihabaAshi> Nesi...nice power trade on that ES
[15:46] <+Nesi> yes..but i could not hold any longer
[15:46] <@NihabaAshi> Was +11 your profit target
[15:47] <+Nesi> well.. i was trying to juice it..i got greedy ...and i got more then i wanted
[15:47] <@NihabaAshi>
[15:48] <+rickf> grrrrr
[15:48] <+rickf> would have been a nice runner on the TF if i hadnt been on the phone
[15:48] <+rickf> wtg nesi
[15:53] <+rickf> still waiting on the spx fill *sigh*
[15:53] <+rickf> not like futures
[15:54] <+rickf> long TF 477 paper
[15:56] <+rickf> exit TF 478.20 +1.2 paper
[16:00] <+rickf> ding
[16:00] <+Nesi> thanks all
[16:00] <+Nesi> wrbtrader...email on the way
[16:06] <@NihabaAshi> Nesi...perfect...thank you.
Session Close: Wed Jul 08 16:06:32 2009

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