##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. 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 methods and different perspective of the markets.

Also, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different 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 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.

By the way, 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: Fri Aug 07 08:48:46 2009
Session Ident: #futurestrades
[08:48] * Now talking in #futurestrades
[08:48] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[08:57] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[09:00] * codehead_afk is now known as codehead
[09:08] <pdays> Shorts EC @ 1.4317
[09:08] <+pdays> Covered all EC Short @ 1.4379 --> - 0.0062
[09:09] <+pdays> oops
[09:09] <+pdays> Shorts EC @ 1.4381
[09:09] <+pdays> Covered all EC Short @ 1.4379 --> + 0.0002
[09:10] <+pdays> Shorts EC @ 1.4317
[09:10] <+pdays> Covered all EC Short @ 1.4307 --> + 0.001
[09:10] <+pdays> after the fact
[09:11] <jbuch> morning all
[09:12] <JimL14> i'm waiting here for an oppty ss GU & EU when things settled dwn, maybe setup some good short opptys in eminis if the tops aren't cleared with good volumes after the cash markets open, but we'lll see if it breaks higher with conviction, i'll take that too
[09:13] <JimL28> Long TF @ 564.5 «« simulator »»
[09:13] <+JimL28> 1
[09:13] <+JimL28> exit stop raised TF @ 564.8 «« simulator »»
[09:14] <+JimL14> i couldn't get back to my office in time for the 8:30 release, but at least we'll get some action. up or dwn doesn't matter as long as its trending
[09:14] <+JimL28> Trailing Stop Hit TF @ 564.8 --> + 0.3 «« simulator »»
[09:19] <+JimL28> Shorts TF @ 565 «« simulator »»
[09:19] <+JimL28> 1
[09:21] <+JimL28> exit stop lowered TF @ 565.2 «« simulator »»
[09:23] <+JimL14> micro-tight stop, not horsing around with any preconcieved premarket notions
[09:25] <Forex2stay_Away> everyone
[09:25] * Forex2stay_Away is now known as Forex2stay
[09:25] <+Forex2stay> going to be hard to get a good read on EURO today
[09:26] <+JimL28> Covered all TF Short @ 565 --> 0 «« simulator »»
[09:26] <+Forex2stay> to many folks lost there shorts it that violent NFP move, they will be revenge trading and irrational
[09:26] <+Forex2stay> hard to get a feel for that type of price action
[09:30] <drt>
[09:30] <+Forex2stay> look for EURO to test release low so more pain can be felt
[09:31] <+JimL28> Long TF @ 565.4 «« simulator »»
[09:31] <+JimL28> 1
[09:31] <@NihabaAshi> Shorts ES @ 1004.25 -> large size
[09:32] <@NihabaAshi> 6 only
[09:32] <@NihabaAshi> Covered all ES Short @ 1005.50 --> - 1.25
[09:32] <@NihabaAshi> may take a few Shorts to catch this
[09:32] <pat255> oops ...
[09:33] <+pat255> yes
[09:33] <+JimL28> Exited all TF Long @ 568 --> + 2.6 «« simulator »»
[09:34] <+JimL14> trgt hit while fiddling with stop move :\
[09:34] <+pat255> oh my bulls in nasty mood this AM
[09:34] <@NihabaAshi> Shorts ES @ 1007.00 -> large size
[09:34] <+JimL14> but maybe good cest la vie
[09:34] <@NihabaAshi> 6 only
[09:36] <+JimL28> Shorts TF @ 566.3 «« simulator »»
[09:36] <+JimL28> 2
[09:36] <+JimL28> exit stop set TF @ 566.1 «« simulator »»
[09:37] <+JimL28> exit stop raised TF @ 566.3 «« simulator »»
[09:38] <+drt> l es 04.25
[09:38] <+pat255> N u onn the right side S...
[09:38] <@NihabaAshi> Covered ES Short @ 1002.75 --> + 4.25
[09:38] <@NihabaAshi> Holding 1 contract remainder
[09:38] <+pat255> still looking for L side setup
[09:39] <+pat255> vn
[09:39] <@NihabaAshi> I'm using the 15min chart interval for this trade...
[09:39] <+JimL28> Covered 1/2 TF Short @ 564 --> + 2.3 «« simulator »»
[09:39] <@NihabaAshi> Reason why I didn't mind a few losers until I caught the runner.
[09:40] <+JimL14> try something diff & hold @ entryinto 1st tier premrk support
[09:40] <+pat255> k..ty
[09:40] <@NihabaAshi> Luckily I only had one loser before catching the price decline.
[09:41] <+drt> cl es 03.50
[09:42] <+pat255> N what made u look for S? cuz big move earlier?
[09:43] <+JimL28> Shorts TF @ 564 -> Add «« simulator »»
[09:43] <+pat255> was looking for pb to go L...
[09:44] <+pat255> oil helped too
[09:44] <+JimL28> Covered 1/2 TF Short @ 562.4 --> + 1.6 «« simulator »»
[09:48] <+Forex2stay> EURO testing low of NFP release
[09:49] <+JimL28> exit stop lowered TF @ 564.8 «« simulator »»
[09:50] <+JimL28> Trailing Stop Hit TF @ 564.8 --> + 1.5 «« simulator »»
[09:50] <+jbuch> Long ES @ 1003.75
[09:52] <+jbuch> Exited 1/2 ES Long @ 1004.75 --> + 1
[09:52] <@NihabaAshi> [09:42] <+pat255> N what made u look for S? cuz big move earlier?
[09:53] <@NihabaAshi> Yes...that big move around 0830am est caught my eye...
[09:53] <@NihabaAshi> I was expecting at least a pullback to the close of that big move @ 1002.50
[09:53] <+jbuch> Exited Remainder ES Long @ 1003.75 --> 0
[09:53] <+pat255> k ...got u ...thks
[09:54] <+pat255> 1007 was a double top ..
[09:54] <+pat255> sort of
[09:54] <@NihabaAshi> The Emini ES has done that now it's just a "waiting game" to see if it will power higher or retrace back down into at least 1/2 of that big price movement of 0830am est.
[09:55] <+JimL14> also it made a 3x top into prior days & stopped immeditately
[09:55] <@NihabaAshi> Odds are that it's going to go higher
[09:55] <@NihabaAshi> Covered Remainder ES Short @ 1005.00 --> + 2
[09:56] <@NihabaAshi> If it doesn't...I'll be looking for a Short but with a small size
[09:57] <+JimL14> this area is weak resistance zone, may need some consolid to see it higher tops can be challenged
[09:58] <@NihabaAshi> I'm now bullish but there's no support from other key markets to help with a Long position
[09:58] <+JimL28> Shorts TF @ 565.4 «« simulator »»
[09:58] <+JimL28> 1
[09:59] <+JimL28> exit stop lowered TF @ 565.2 «« simulator »»
[10:00] <+JimL28> exit stop lowered TF @ 564.3 «« simulator »»
[10:01] <+JimL28> exit stop lowered TF @ 563.8 «« simulator »»
[10:01] <+JimL28> Trailing Stop Hit TF @ 563.8 --> + 1.6 «« simulator »»
[10:03] <+jbuch> Shorts ES @ 1001.75
[10:03] <+jbuch> Covered 1/2 ES Short @ 1000 --> + 1.75
[10:04] <@NihabaAshi> That 1000 level has like balls and chains on it.
[10:04] <+JimL28> Long TF @ 562.2 «« simulator »»
[10:04] <+JimL28> 1
[10:05] <@NihabaAshi> The market starts to run away to only get jerked back.
[10:05] <+JimL28> exit stop raised TF @ 562.4 «« simulator »»
[10:06] <@NihabaAshi> Long ES @ 1000.75 -> medium size
[10:06] <@NihabaAshi> 4 only
[10:06] <+JimL28> Covered TF Short @ 52.6 --> + 509.6 «« simulator »»
[10:06] <+JimL28> Reverse and Enter Long TF @ 52.6 «« simulator »»
[10:07] <+JimL28> Exited all TF Long @ 52.6 --> 0 «« simulator »»
[10:07] <+JimL28> Shorts TF @ 562.7 «« simulator »»
[10:07] <+JimL28> 2
[10:07] <+JimL28> exit stop lowered TF @ 562.5 «« simulator »»
[10:08] <+pat255> vn jb on s side
[10:08] <+JimL28> Trailing Stop Hit TF @ 562.5 --> + 0.2 «« simulator »»
[10:08] <+jbuch> Covered Remainder ES Short @ 1000.5 --> + 1.25
[10:08] <@NihabaAshi> Exited all ES Long @ 1000.50 --> - 0.25
[10:09] <+jbuch> thanks pat
[10:09] <+pat255> geez tried 1 L be
[10:09] <@NihabaAshi> Long ES @ 1000.50 -> medium size
[10:09] <@NihabaAshi> 4 only
[10:10] <@NihabaAshi> intuition in reaction to prior trade
[10:12] <+JimL14> top gun read & execut wrbtrader
[10:12] <@NihabaAshi> Exited all ES Long @ 1002.75 --> + 2.25
[10:14] <+JimL14> my piper cub was sputtering & trying to maintain trim ))
[10:14] <+pat255> vn N
[10:14] <+pat255> L 1001
[10:14] <+pat255> try 1 more time
[10:15] <+Forex2stay> EURO below it's NFP release low and feeling heavy
[10:16] <+pat255> out +1
[10:17] <+JimL28> Shorts TF @ 563.9 «« simulator »»
[10:17] <+JimL28> 2
[10:18] <+jbuch> Shorts ES @ 1002
[10:18] <+JimL28> Covered 1/2 TF Short @ 563.1 --> + 0.8 «« simulator »»
[10:18] <+JimL28> exit stop lowered TF @ 563.8 «« simulator »»
[10:19] <+JimL28> Trailing Stop Hit TF @ 563.8 --> + 0.1 «« simulator »»
[10:20] <+jbuch> Covered all ES Short @ 1002 --> 0
[10:20] <+JimL14> wedging in this consol zone, hard to pick a breakout direction, for me
[10:21] <+jbuch> shoot tried to get back in short missed it
[10:21] <+pat255> oil going lower
[10:22] <+JimL14> have t/b real quick/lucky to catch the edge of the wedge & the revrsl
[10:22] <+JimL14> & bail or protect the next revrsl
[10:24] <+JimL14> the am pattern has alot of room to fall the interday pattern has alot of room to soar if the tops are cleared
[10:24] <+Forex2stay> looks EURO might settle into a creeper trend for the day....hate those
[10:26] <luffy>
[10:26] <+jbuch> Long ES @ 1002.25
[10:26] <+JimL14> Maybe correct. I couldn't focus on EU or GU to find an smaller interval entry from my 60 min chart, but it looks nice now $$$
[10:26] <+JimL14> if i was in from above :> not enter now
[10:27] <+jbuch> Exited 1/2 ES Long @ 1003.75 --> + 1.5
[10:28] <+JimL14> JB, JB, JB
[10:28] <@NihabaAshi> Long ES @ 1003.50 -> small size
[10:28] <@NihabaAshi> 1 only
[10:29] <+jbuch> if we can get past this pivot might run for a ways
[10:30] <@NihabaAshi> change of plans...going to take a break due to some distractions here at home.
[10:31] <@NihabaAshi> Exited ES Long @ 1004.50 --> + 1
[10:31] <@NihabaAshi> be back later
[10:31] * NihabaAshi is now known as NihabaAshi_away
[10:31] <+JimL28> Long TF @ 565.1 «« simulator »»
[10:35] <+JimL28> Exited all TF Long @ 566.4 --> + 1.3 «« simulator »»
[10:35] <+jbuch> Exited Remainder ES Long @ 1005 --> + 2.75
[10:35] <+pat255> vn
[10:36] <+jbuch> thanks
[10:37] <+jbuch> think that I will regret selling that later but that was all the patience that I had
[10:37] <+jbuch> lol
[10:37] <+jbuch> there it goes
[10:39] <+JimL14> when i buy brkouts, i'm happy with profits in this mrkt, i've almost taken brkouts out of my playbook bcuz of too many failures recently, but if mrkt resumes trending may reconsider
[10:40] <+jbuch> dangit
[10:40] <+JimL28> Shorts TF @ 568.5 «« simulator »»
[10:40] <+JimL28> 1
[10:41] <+JimL28> exit stop lowered TF @ 568.3 «« simulator »»
[10:43] <+JimL14> es & ym brkup, but tf, nq, cl, gc lagging right now,
[10:44] <+codehead> short ES 1008.00 <paper> target 1006.00 stop 1011.00
[10:45] <+JimL28> Covered all TF Short @ 568 --> + 0.5 «« simulator »»
[10:45] <+Forex2stay> EURO testing a key support
[10:45] <+codehead> that is mechanical trade, but because we broke 1008.00, we are going higher
[10:46] <+codehead> so this trade may well fail, just tracking it
[10:46] <+Forex2stay> EURJPY testing HOD again
[10:48] <+Forex2stay> 4th time testing, lets see if it pops
[10:48] <+Forex2stay> going to need a little help from the EURO though
[10:50] <+luffy> short 8.5
[10:51] <+JimL14> new to forex, but that move in UJ is very nice for only 2 hrs (200 pips)?
[10:52] <+Forex2stay> yeah getting some great movement today
[10:55] <+luffy> out -1tk
[10:55] <TraderG> E/x & G/x are r moving in opposite direction. U/J should retrace tp correct the imballance the question is when
[10:55] <+JimL28> Shorts TF @ 568.7 «« simulator »»
[10:55] <+JimL28> 1
[10:56] <+JimL28> Covered TF Short @ 568.9 --> - 0.2 «« simulator »»
[10:56] <+JimL28> Reverse and Enter Long TF @ 568.9 «« simulator »»
[10:57] <+codehead> stop hit, out ES -3.00 <paper>
[10:58] <+JimL28> Exited all TF Long @ 568.9 --> 0 «« simulator »»
[10:58] <+JimL14> argh, reverse didn't execute in ninja just out
[10:59] * NihabaAshi_away is now known as NihabaAshi
[11:00] <@NihabaAshi> Hmmm...looks like I miss the big power up move.
[11:00] <+JimL14> & @ 569.4 so -0.7
[11:00] <@NihabaAshi> Hopefully, another strong price movement happens before the volatility dies.
[11:01] <+codehead> short ES 1011.25 <paper> target 1009.25, stop 1014.25
[11:02] <+codehead> same trade, bad day for this one, just testing--two failures and rule is to stop that trade for the day
[11:02] <+codehead> two consecutive
[11:02] <+codehead> waiting to short 1015.5 actually
[11:02] <+JimL14> a real US lead move, not getting any help from gold or oil
[11:03] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[11:04] <+luffy> so more discouraged workers is positive news
[11:04] <+luffy> jobless >0
[11:04] <+luffy> unemploment dropped
[11:04] <+luffy> = discouraged workers.. not real unemployment
[11:04] <+JimL14> by US, I'm even mean the $USD, how about that
[11:04] <+luffy> joblosses >0
[11:09] <+JimL14> well its a ray of sunshine for a morning, maybe day or 2 in a very, dreary economic forecast, no false hopes, until emplymt, pers income, home valu, actually demonstrate comeback & then figure out how to pay USA debts
[11:09] <+Forex2stay> by the way i got a nephew going into the Navy...signed up last month and they are not taking him until Feb 2010, said they are full. They told him people are inlisting like crazy cause they can not find jobs.
[11:10] <+jbuch> for what we do what does it matter the market is moving up.
[11:11] <+JimL14> absoultely true, & the military budget is tapped out for the next 5 yrs
[11:11] <+jbuch> it will stop eventually but when ur looking at a 1 to 5 min time frame
[11:11] <+jbuch> the big picture doesn't matter
[11:12] <+jbuch> it is interesting to discuss and of a concern for long term positions
[11:14] <+JimL14> the big picture, mainly matters for long term capital/preservation/growth, I'm trying to figure out what to do about the next swing pt from the last :o
[11:14] <+JimL28> Shorts TF @ 571.5 «« simulator »»
[11:14] <+JimL28> 1
[11:14] <+TraderG> JB I agree with you. People are looking at timeframes that does not effect them in trading
[11:15] <+TraderG> and news for that matter that r not relevant
[11:15] <+Forex2stay> really depend on what you are looking at...price action today is most likely from the numbers or should i say everyone's first impression of the numbers. Now when these folks get home and realize that the numbers might not be what they thought what will they do Monday?
[11:15] <+Forex2stay> thus a trading plan for Monday
[11:16] <+jbuch> all I wanna do is get on a weak retracement of a strong move and try to hang on until the mave is complete
[11:16] <+TraderG> yesterday on one of the channels there was a report that home prices /economy will not go up until 2015. CAN THEY REALLY SEE THAT FAR? ))))
[11:16] <+TraderG> how come they did not c this reccesion?
[11:17] <+jbuch> trying to figure out where a strong move is going to end and predict where the market will be in a day or a week is to difficult for
[11:17] <+jbuch> me
[11:17] <+TraderG> there is a guy by the name of NASSIM TALEB. he said that he does not trust men in suits and ties (=Economists, Lawyers)
[11:18] <+JimL14> some finacial wizards did see the collapse, that's why they created martgaged backed securities, to unload to the next buyers
[11:22] <Sidhartha> a stopped clock is right twice a day
[11:22] <+JimL14> to everyones point, the rule to always winning is the keep churning, accumulating, and massaging your capital in such a way that you're always in a position to sell @ a profit after expenses/taxes. the GS way
[11:23] <+luffy> paper long
[11:23] <+luffy> 1011
[11:26] <+luffy> paper out
[11:26] <+luffy> be+1
[11:26] <+JimL28> Shorts TF @ 571.6 «« simulator »»
[11:26] <+JimL28> 1
[11:27] <+luffy> guys whats the diff between cl and qm?
[11:27] <+codehead> double size on CL
[11:27] <+luffy> qm is mini cl?
[11:27] <+codehead> the big contract
[11:27] <+luffy> icic
[11:27] <+codehead> yes
[11:27] <+luffy> which one has better volume?
[11:28] <+codehead> hang on...
[11:28] <+codehead> i think CL but checking
[11:28] <+luffy> ok thnx
[11:29] <+codehead> my paper trade expires in 7 mins, trading at entry still
[11:29] <+JimL28> Covered 1/2 TF Short @ 569.9 --> + 1.7 «« simulator »»
[11:30] <+codehead> k, friend says CL trades about 10x QM
[11:30] <+JimL28> 570.9 +7
[11:32] <+JimL28> Covered all TF Short @ 571.2 --> + 0.4 «« simulator »»
[11:33] <+JimL14> todays vol # on cl vs qm concurr with codehead
[11:35] <+codehead> oh cool :-)
[11:35] <+codehead> i didn't check numbers, just asked friend who trades em
[11:35] <+codehead> prefers CL
[11:36] <+codehead> exit ES short at market -.25 <paper> time limit
[11:38] <+luffy> ok thanks code
[11:38] <+JimL14> I just looked quickly @ quote its either 10 or 100 times in that direction
[11:40] <+jbuch> Shorts ES @ 1112.25
[11:41] <+JimL28> Shorts TF @ 572.3 «« simulator »»
[11:41] <+JimL28> 1
[11:42] <+JimL14> i have to get out of these crappy countertrend shorts & get in the right direction b4 lunch break
[11:42] <+jbuch> Covered 1/2 ES Short @ 1111.25 --> + 1
[11:42] <+JimL28> exit stop lowered TF @ 571.9 «« simulator »»
[11:45] <+JimL28> Covered all TF Short @ 571.1 --> + 1.2 «« simulator »»
[11:46] <+jbuch> Covered Remainder ES Short @ 1109.25 --> + 3
[11:46] <+TraderG> jb
[11:47] <+TraderG> IF IN DOUBT - GET OUT. I don't know where I got this from......
[11:47] <@NihabaAshi> weak support area
[11:51] <OICU812> hey guys hows it going today
[11:51] <@NihabaAshi> HI OIC...it's good.
[11:51] <+OICU812> fun morning
[11:51] <+OICU812> i cought a chunk of the way up but got out too early
[11:52] <@NihabaAshi> If this weak support breaks down...it'll test 1007.00 - 1006.00
[11:52] <@NihabaAshi> Good position reversal if wrong on any Longs.
[11:55] <+jbuch> Shorts ES @ 1009.75
[11:56] <+jbuch> hmm doesn't look like a good short on the 5 min
[11:56] <+JimL28> Shorts TF @ 571.2 «« simulator »»
[11:56] <+JimL28> 2
[11:56] <@NihabaAshi> Long ES @ 1009.75 -> small size
[11:56] <@NihabaAshi> 2 only
[11:57] <+jbuch> Covered all ES Short @ 1009.75 --> 0
[11:57] <+JimL28> Covered all TF Short @ 571.8 --> - 0.6 «« simulator »»
[11:58] <@NihabaAshi> it's got support from Oil and Gold
[11:58] <@NihabaAshi> will try to hold this a little longer
[11:58] <+jbuch> can't wait until we get bACK BELOW 1000 typing in the trades is a bitch )
[11:59] <+JimL28> Shorts TF @ 573.5 «« simulator »»
[11:59] <+JimL28> 3
[12:00] <+JimL28> Covered 1/3 TF Short @ 572.5 --> + 1 «« simulator »»
[12:00] <+JimL28> exit stop lowered TF @ 573.3 «« simulator »»
[12:03] <@NihabaAshi> Key markets back to moving sideways.
[12:03] <@NihabaAshi>
[12:03] <werner> hi all
[12:06] <+werner> wosa usd is strong
[12:07] <@NihabaAshi> That means EuroFX or EurUsd must be getting pushed down strongly.
[12:08] <+werner> financials also strong
[12:08] <+werner> yea indd
[12:09] <+JimL28> Covered 1/3 TF Short @ 572.7 --> + 0.8 «« simulator »»
[12:11] <+jbuch> Shorts ES @ 1011
[12:11] <+Forex2stay> yes EURUSD is trending down today
[12:12] <+Forex2stay> once it got out of the 3day range it was all a down move
[12:13] <+JimL28> Shorts TF @ 572.6 -> Add «« simulator »»
[12:14] <+JimL28> exit stop lowered TF @ 572.7 «« simulator »»
[12:15] <@NihabaAshi> Exited all ES Long @ 1010.25 --> + 0.5
[12:15] <@NihabaAshi>
[12:15] <+jbuch> Covered 1/2 ES Short @ 1010.5 --> + 0.5
[12:17] <+JimL14> gotta run, i'll leave 2 tf ss @ 573 & stops @ 572.7, will clean up results later
[12:19] <+jbuch> Covered Remainder ES Short @ 1010.25 --> + 0.75
[12:19] <petrpe> Shorts NQ @ 1621.75
[12:20] <+OICU812> ive been holding on to a short from 12 for the last hour and a half
[12:26] <+jbuch> Long ES @ 1010.25
[12:26] <+petrpe> Covered all NQ Short @ 1623.25 --> - 1.5
[12:34] <+jbuch> dead market
[12:35] <+werner> yep ...i do not trade here in this area
[12:35] <+jbuch> Exited 1/2 ES Long @ 1011.25 --> + 1
[12:35] <+werner> good one
[12:36] <+jbuch> exit stop set ES @ 1009.75
[12:36] <+jbuch> thanks
[12:38] <+jbuch> exit stop moved to breakeven ES @ 1010.5
[12:39] <@NihabaAshi> Long ES @ 1011.50 -> small size
[12:40] <@NihabaAshi> 2 only
[12:40] <@NihabaAshi> intuition in reaction to prior trade
[12:43] <+jbuch> Exited Remainder ES Long @ 1011.5 --> + 1.25
[12:44] <+jbuch> price going up tick going down
[12:44] <+jbuch> something wil pop
[12:44] <@NihabaAshi> You got to have the patience of a snail right now and I don't have it
[12:44] <@NihabaAshi> Exited all ES Long @ 1011.50 --> 0
[12:45] <@NihabaAshi> be back later...knew it was a good trade but just lost the urge to trade.
[12:45] <@NihabaAshi> Going to go get some rest and return later if something inspires me.
[12:46] * NihabaAshi is now known as NihabaAsh_away
[12:53] <+luffy> short
[12:53] <+luffy> s 12.5
[12:58] <rickf> hi all
[12:58] <+werner> hi
[12:58] <+jbuch> hey rick
[12:58] <+werner>
[12:58] <+rickf> hey jb
[12:59] <+luffy> out 1tik
[13:00] <+luffy> got scared..
[13:00] <+luffy> slow lunch moves suck
[13:04] <+OICU812> patience
[13:06] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[13:12] <+jbuch> Long ES @ 1012.25
[13:14] <+jbuch> Exited 1/2 ES Long @ 1012.75 --> + 0.5
[13:22] <+jbuch> Exited all ES Long @ 113.25 --> - 899
[13:23] <+jbuch> Exited Remainder ES Long @ 1113.25 --> + 101
[13:23] <+jbuch> oops screwed it up twice
[13:23] <+jbuch> plus 1
[13:24] <+jbuch> going for a bike ride be back later
[14:13] <+werner> Shorts NQ @ 1626.25
[14:20] <+werner> Covered all NQ Short @ 1626.00 --> + 0.25
[14:21] <+werner> mmm too slow for me
[14:25] <+werner>
[14:42] * NihabaAsh_away is now known as NihabaAshi
[14:47] <+jbuch> Long ES @ 1012
[14:48] <+werner> Shorts NQ @ 1623.25
[14:54] <+werner> Covered all NQ Short @ 1623.50 --> - 0.25
[14:55] <+werner> this is not for me ...no patience here
[14:56] <+werner> gn all and have a nice weekend all
[15:02] <+jbuch> Exited all ES Long @ 1011.25 --> - 0.75
[15:02] <+JimL14> back for the last hr., last open trade results
[15:03] <+JimL28> Trailing Stop Hit TF @ 572.7 --> + 0.7 «« simulator »»
[15:05] <+JimL14> that's freaky, my stops were hit @ 12:29 & we're back to the same $
[15:09] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @ viewtopic.php?f=5&t=36 and TOU policy @ viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[15:13] <+JimL28> Shorts TF @ 572.6 «« simulator »»
[15:13] <+JimL28> 1
[15:15] <+luffy> paper short
[15:15] <+luffy> 9.5
[15:15] <+luffy> close for be+1
[15:15] <+luffy> dont liek it..
[15:15] <+luffy> maybe even coulda got +2
[15:20] <+JimL14> Luffy, something that helped me; if your only trading 1 car; u either take 1 of 2 views of your profit/loss objective. Try & enter where
[15:21] <+JimL14> your stops will be near natural, last support/swing/resistance.
[15:22] <+JimL14> if trade moves in your direction, use the most recent trend/retracement action to guage when you can move your stop
[15:22] <+JimL14> when you are there, move your stop to b/e + whatever you need for slippage
[15:23] <+JimL14> then mgmt the trade like you looking for another car in the same direction
[15:24] <+luffy> long 1008.25 out for +3tick
[15:25] <+luffy> youre right jim
[15:25] <+luffy> i look for lowest possible point to get in
[15:25] <+JimL14> as long as nothing is happening to upset the otherall perspective of the trend, leave it alone and only exit when your ready to go in the other direction
[15:25] <+luffy> i shoulda have kept that last one open
[15:25] <+luffy> just move my stop
[15:25] <+luffy> instead of taking 3 ticks
[15:25] <+luffy> but these ticks add up...
[15:25] <+luffy> but i'm afraid my expectancy will be negative
[15:25] <+luffy> if i take too many small winners
[15:26] <+luffy> i may go back to 2 car system
[15:26] <+luffy> i feel much better
[15:26] <+JimL14> the other way to look at it is, exit as soon as your analysis tells you the trend is exhausted & exit.
[15:26] <+luffy> +1 on first car
[15:26] <+luffy> ride 2nd car
[15:26] <@NihabaAshi> Long ES @ 1009.25 -> small size
[15:26] <@NihabaAshi> 3 only
[15:26] <+luffy> i waited forever for that long...
[15:26] <+luffy> only took 3 ticks..
[15:27] <+luffy> this is worse than working at mcdonalds
[15:27] <+luffy> but its alot more fun
[15:27] <+luffy> i needa do 2 cars
[15:27] <+luffy> back to to 2 cars
[15:27] <+JimL14> but don't flip flop between the 2 views or your always going to be 2nd quessing the decision
[15:27] <+luffy> yea
[15:27] <+luffy> i decided to only take super safe plays
[15:29] <+luffy> now i'm kicking myself for taking 3 ticks
[15:29] <+luffy> jesus...
[15:29] <+JimL28> Covered all TF Short @ 572.5 --> + 0.1 «« simulator »»
[15:30] <+JimL14> for eminis, because of the overlapping nature of the moves, its really impractical to stay in long trends unless your enrty is near (what turns out to be) a major swingpt
[15:30] <@NihabaAshi> Exited all ES Long @ 1010.25 --> + 1
[15:30] <+jbuch> just curious luffy where u entered the market was moving sharply down. what was safe about it
[15:31] <+jbuch> so far it has made a v bottom which is quite rare
[15:32] <+OICU812> i got in on the same trade as luffy
[15:33] <+OICU812> 1008 here
[15:33] <+luffy> nice oic!! to the tick
[15:33] <+JimL28> Long TF @ 572.3 «« simulator »»
[15:33] <+JimL28> 2
[15:34] <+JimL28> Exited 1/2 TF Long @ 573.1 --> + 0.8 «« simulator »»
[15:34] <+JimL28> exit stop raised TF @ 572.3 «« simulator »»
[15:35] <+JimL14> in my trail/error 2 cars are better than 1, but the "choice" of the view for maximizing profit its still the same
[15:36] <+jbuch> Shorts ES @ 1011
[15:37] <@NihabaAshi> Long ES @ 1010.50 -> small size
[15:37] <@NihabaAshi> 3 only
[15:38] <+JimL14> besides constantly analyzing support/resistance & relative swing pts across the eminis & other correlated markets, I'm analyszing the tick overlap of each "meaningful" trend, to get a feel for how much retrcment is happening most recently
[15:39] <+JimL14> its not scientific, more artsy, but it helps in judging where to let runners breath
[15:39] <@NihabaAshi> Exited all ES Long @ 1009.50 --> - 1
[15:39] <+luffy> cool
[15:39] <+jbuch> Covered all ES Short @ 1009.25 --> + 1.75
[15:39] <@NihabaAshi> Shorts ES @ 1009.25 -> medium size
[15:39] <@NihabaAshi> 4 only
[15:39] <+jbuch> oops only covered 1/2
[15:39] <+JimL28> Trailing Stop Hit TF @ 572.3 --> 0 «« simulator »»
[15:40] <+JimL14> too busy typing on other computer, need to focus on trades
[15:41] <@NihabaAshi> Covered all ES Short @ 1010.25 --> - 1
[15:42] <@NihabaAshi> Shorts ES @ 1009.75 -> medium size
[15:42] <@NihabaAshi> 4 only
[15:42] <+JimL28> Shorts TF @ 572.7 «« simulator »»
[15:42] <+JimL28> 1
[15:43] <+JimL28> Covered all TF Short @ 572.5 --> + 0.2 «« simulator »»
[15:45] <+jbuch> anyways luffy I am not critiquing just wondering what made that seem like a safe trade to u
[15:45] <+JimL14> intraday H&S froming, rt shoulder now, S&H haven't been working too much lately
[15:45] <+JimL28> Shorts TF @ 571.9 «« simulator »»
[15:45] <+JimL28> 1
[15:47] <+jbuch> Covered all ES Short @ 1008.5 --> + 2.5
[15:47] <+OICU812> nice jb
[15:47] <+OICU812> im still holding on to my long
[15:47] <+OICU812> i think it still has potential
[15:47] <+jbuch> thanks
[15:47] <+jbuch> looks good
[15:48] <+OICU812> this is the level that makes it or breaks it lol
[15:48] <+OICU812> scaled at 1010.75
[15:48] <+JimL28> Shorts TF @ 572.5 -> Add «« simulator »»
[15:48] <+jbuch> that broke the hell out of that downtrend and it is definetly an up day
[15:48] <+OICU812> so im safe
[15:48] <+luffy> h/s break here
[15:48] <+luffy> if it breaks
[15:48] <+luffy> too early
[15:50] <@NihabaAshi> Covered all ES Short @ 1009.00 --> + 0.75
[15:50] <+JimL14> sometimes these patterns reverse up right here & brk highs of the day
[15:50] <+luffy> hard to get in...
[15:50] <+luffy> no chance for good fill on the 2nd leg
[15:51] <+luffy> crap 9 mins left to close...
[15:52] <+jbuch> I just noticed as well didn't realize how late it was.
[15:53] <@NihabaAshi> Long ES @ 1010.00 -> medium size
[15:53] <@NihabaAshi> 4 only
[15:53] <+JimL28> Covered TF Short @ 572.4 --> - 0.5 «« simulator »»
[15:53] <+JimL28> Reverse and Enter Long TF @ 572.4 «« simulator »»
[15:54] <+JimL28> 2
[15:54] <+luffy> yea no more trades...
[15:54] <@NihabaAshi> ES being stubborn in the last hour of trading
[15:54] <+luffy> yea
[15:55] <@NihabaAshi> Looks like another close where everybody is over a few ticks
[15:55] <+luffy> looks like shorts are covering...
[15:55] <@NihabaAshi> that creates chop
[15:55] <+JimL28> Long TF @ 572.5 -> Add «« simulator »»
[15:56] <@NihabaAshi> Exited all ES Long @ 1009.25 --> - 0.75
[15:56] <+OICU812> out and flat
[15:56] <+luffy> nice
[15:57] <+OICU812> yeah, 1009.5 last half
[15:57] <+OICU812> but not breaking 11.25 made me exit
[15:57] <+luffy> icic yea
[15:57] <@NihabaAshi> Shorts ES @ 1008.50 -> medium size
[15:57] <+luffy> good observation
[15:57] <@NihabaAshi> 4 only
[15:58] <+JimL28> Exited all TF Long @ 571.7 --> - 1.5 «« simulator »»
[15:59] <@NihabaAshi> geeesh
[16:00] <@NihabaAshi> Covered all ES Short @ 1006.75 --> + 1.75
[16:03] <+jbuch> great day
[16:04] <+luffy> cya everyone
[16:05] <+OICU812> have a good weekend everyone
[16:05] <+OICU812> hope you all had a good week
[16:08] <@NihabaAshi> Shorts ES @ 1006.50 -> small size
[16:08] <@NihabaAshi> 2 only
[16:08] <@NihabaAshi> trade error (saw something that's really not there)
[16:09] <@NihabaAshi> will keep to see how it plays out now that the volatility has died.
[16:09] <@NihabaAshi> simply, I'm expecting one more small volatility spike
[16:13] <@NihabaAshi> trailing stop @ breakeven
[16:14] <@NihabaAshi> Covered all ES Short @ 1006.25 --> + 0.25
[16:15] <@NihabaAshi> Last year it was easy to make +30 Emini ES points or +15 Emini ER2 (now known as TF) points due to the incredible volatility.
[16:16] <@NihabaAshi> However, towards the latter part of last year we had a few in-depth conversations in here about the longevity of that unusual volatility...
[16:16] <@NihabaAshi> There seem to be a consensus it wouldn't last and most traders may never see it again in their trading careers.
[16:17] <@NihabaAshi> I agree although we would seem some signs of that type of volatility maybe 1 - 3 times per month this year but nothing close to the consistency it appeared last year.
[16:18] <@NihabaAshi> On Jan 1st 2009...I lower my profit expectations for 2009...
[16:18] <@NihabaAshi> lower my profit targets...
[16:18] <@NihabaAshi> lower my average position size et cetera due to expecting a lack of volatility
[16:19] <@NihabaAshi> Someone asked told me recently that they've noticed I've INCREASED my position size for the past several trading days.
[16:19] <@NihabaAshi> Why?
[16:20] <@NihabaAshi> I think we're going to SOON see that unusual volatility but I don't know how long it will last.
[16:20] <@NihabaAshi> Since I can't time it...I just figure I'll just hit it hard every trading day from this point on until it appears
[16:20] <@NihabaAshi> If it doesn't appear...broker makes some extra dough.
[16:22] <@NihabaAshi> I think the market is in price arear where there's a pending PARABOLIC price movement in key markets (UP or DOWN) and I want to be increasing my position size into that volatility when it occurs.
[16:22] <+jbuch> seeems to me that ur making some extra doe as well
[16:22] <+jbuch> doe +dough
[16:24] <+jbuch> even if it doesn't appear and u r still taking ur 2 to 4 point winners u will make more $ wth the 6 contracts instead 2 or 3
[16:26] <@NihabaAshi> Current profit level for June and July this year is decptive when comparing to last year June & July of last year.
[16:27] <@NihabaAshi> I took a lot of time off last year in the same duration in comparison to this year.
[16:28] <@NihabaAshi> The true comparison of my trading for this year will be for Aug - Dec.
[16:28] <@NihabaAshi> Jan - July I have too much personal stuff going on that has a great impact on my overall profit level.
[16:30] <@NihabaAshi> Just documenting my thoughts for review months or years later as usual
[16:31] <@NihabaAshi> Take care all, have a good/safe weekend...will be taking the kids on a hiking trip this weekend to look for snakes (spouse doesn't want to come).
[16:31] <@NihabaAshi>
[16:31] * NihabaAshi is now known as NihabaAshi_away

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