##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 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 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.

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Session Start: Thu Sep 24 09:21:02 2009
Session Ident: #futurestrades
[09:21] * Now talking in #futurestrades
[09:21] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:21] <rickf> all
[09:21] <JimL28> Covered 1/3 TF Short @ 614.5 --> + 1 «« simulator »»
[09:21] <pat255> n others
[09:22] <TraderG> good start Jim
[09:27] <Forex2stay> morning
[09:29] <+JimL28> Covered 2/3 TF Short @ 613.5 --> + 2 «« simulator »»
[09:29] <drt>
[09:30] <+rickf> short es 1059.75 paper
[09:31] <+JimL28> Covered Remainder TF Short @ 613.4 --> + 2.1 «« simulator »»
[09:31] <JimL14> to switch of simulator
[09:32] <+JimL14> off simul.
[09:34] <+[2]luffy>
[09:36] <+JimL28> Shorts TF @ 614.6 «« simulator »»
[09:36] <+JimL28> 2
[09:36] <@wrbtrader> Looks like Jim been shooting before the open
[09:37] <+JimL14> only b4 open, practicing entries/exits
[09:37] <+JimL14> only simula b4 open
[09:37] <+drt> l es 59
[09:39] <+JimL28> Covered 1/2 TF Short @ 613.5 --> + 1.1 «« simulator »»
[09:39] <+JimL14> TF gap area
[09:40] <+rickf> out exit es 1059.25 +.50 paper
[09:41] <+JimL28> Covered Remainder TF Short @ 614 --> + 0.6 «« simulator »»
[09:41] <+drt> cl es 60.25
[09:49] <@wrbtrader> FYI - Today is the start of the G20 Summit in Pittsburgy...expect news out of there to impact prices today in the markets.
[09:49] <@wrbtrader> Long ES @ 1059.00 -> large size
[09:49] <@wrbtrader> 9 only
[09:49] <+rickf> short es 1059.25 paper
[09:50] <@wrbtrader> late entry but I can live with it
[09:50] <Nesi> we have numbers in 10 min fwiw
[09:51] <@wrbtrader> thanks Nesi...I forgot about that one
[09:53] <@wrbtrader> Exited all ES Long @ 1059.00 --> 0
[09:53] <+Nesi> good exit
[09:53] <jbuch> Shorts ES @ 1058.5
[09:54] <@wrbtrader> Shorts ES @ 1058.25 -> large size
[09:54] <@wrbtrader> 9 only
[09:54] <codehead> existing home sales top of the hour
[09:56] <+jbuch> Covered all ES Short @ 1057.75 --> + 0.75
[09:56] <+rickf> exit es 1058 +1.25 aper
[09:56] <@wrbtrader> Covered all ES Short @ 1058.00 --> + 0.25
[09:57] <@wrbtrader> 2 big efforts and all I got was a tick
[09:57] <+rickf>
[09:57] <+jbuch> shoot here it goes
[09:57] <+Nesi> too much stress here ..imo
[09:58] <+jbuch> guess not
[09:59] <+Nesi> 1 minute
[09:59] <@wrbtrader> Long ES @ 1058.50 -> large size
[09:59] <@wrbtrader> 9 only
[10:00] <+Nesi> Shorts ES @ 1059.50 «« simulator »»
[10:00] <+Nesi> late post
[10:00] <@wrbtrader> Exited all ES Long @ 1056.75 --> - 1.75
[10:01] <+Nesi> FED is pulling the TAF program
[10:01] <+Nesi> heads up
[10:01] <@wrbtrader> just heard
[10:01] <+Nesi> 09/24/2009 10:00 *DJ US Aug Median Existing Home Price -12.5% On Yr To $177,700
[10:01] <+pat255> taf?
[10:01] <+Nesi> feels lower..imo
[10:01] <+Nesi> looks like pretty bad news.. watching how market will react
[10:01] <+Nesi> feels lower right now..imo
[10:02] <@wrbtrader> Shorts ES @ 1055.50 -> large size
[10:02] <@wrbtrader> 9 only
[10:02] <+jbuch> Shorts ES @ 1055
[10:03] <+Nesi> 10:03ET U.S. existing home sales unexpectedly drop in Aug [ RTR http://tinyurl.com/yepupgh ]
[10:03] <+jbuch> Covered all ES Short @ 1054 --> + 1
[10:05] <+jbuch> Shorts ES @ 1054
[10:06] <@wrbtrader> profit target reached ...now for the greed
[10:06] <+jbuch> globex lows
[10:06] <+Nesi> looks lower to me
[10:07] <+Nesi> i learned that i must no play my bias
[10:07] <+jbuch> Covered all ES Short @ 1052 --> + 2
[10:07] <+Nesi> nice jb
[10:08] <+jbuch> thanks had my target at 50.25 moved it
[10:08] <@wrbtrader> Covered all ES Short @ 1050.50 --> + 5
[10:08] <+Nesi> nice trading
[10:09] <@wrbtrader> It was an angry trade...will explain in a minute
[10:09] <+Nesi> 10:09ET US mortgage rates stay at May low - Freddie Mac [ RTR http://tinyurl.com/ycvbk6f ]
[10:09] <+Nesi> seems that the 8k credit did not help much
[10:10] <@wrbtrader> I had a trade management error on the prior trade that resulted in a -1.75 loss...
[10:11] <@wrbtrader> I was at a profit target @ 1059.75 for a +1.25 and knew I needed to get out fast before the 10am est numbers get leaked...
[10:12] <@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.
[10:12] <@wrbtrader> I took an extra 2 - 3 seconds to open my "tweetdeck" and the BAM...it dropped before I could exit at a profit
[10:12] <@wrbtrader>
[10:13] <@wrbtrader> It's rare that I let a profitable trade like that turn into a loss.
[10:13] <+pat255> well it fell so fats
[10:13] <+pat255> fast
[10:13] <@wrbtrader> The Short was easy because I when ES had me at a profit...I also got a Short signal.
[10:14] <@wrbtrader> Thus, was easy for me to jump back in as an "intuition short" after the losing Long position./
[10:14] <+Nesi> trying to break big 1050
[10:15] <+pat255> oh my
[10:15] <@wrbtrader> this could get ugly...will just watch
[10:15] <@wrbtrader> sidelined
[10:15] * +rickf agreed
[10:20] <+Nesi> 1045 probably soon..imo
[10:22] <+jbuch> Shorts ES @ 1048
[10:22] <+jbuch> missed that entry by 52 on the phone
[10:22] <+jbuch> need to turn that thing off
[10:23] <+jbuch> Covered all ES Short @ 1047 --> + 1
[10:24] <+jbuch> can't find anything on the taf do u guys have any links
[10:26] <+jbuch> Shorts ES @ 1049
[10:31] <+jbuch> Covered all ES Short @ 1047.5 --> + 1.5
[10:33] <+Nesi> here we go probably
[10:34] <+Nesi> 1042 1044 next area..imho
[10:51] <+rickf> - they're testing fire alarms here today and besides gym time
[10:51] * rickf is now known as rickf_away
[12:15] <@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.
[12:35] <+Nesi> here we go again
[12:35] <+Nesi> pressure coming in
[12:59] <@wrbtrader> Shorts ES @ 1044.00 -> medium size
[12:59] <@wrbtrader> 4 only
[13:01] <@wrbtrader> Covered all ES Short @ 1045.00 --> - 1
[13:05] <+codehead> 1043.50 is .382
[13:05] <+codehead> so some accumulation/covering there
[13:18] <@wrbtrader> Shorts ES @ 1045.75 -> medium size
[13:18] <@wrbtrader> 4 only
[13:18] <+jbuch> I have a high vol close in spy from a week ago which correspondes with 1042.75
[13:21] <+jbuch> Shorts ES @ 1044.5
[13:23] <+Nesi> come on , break
[13:23] <+jbuch> Covered all ES Short @ 1044.5 --> 0
[13:24] <+jbuch> Long ES @ 1045
[13:25] <+jbuch> Exited all ES Long @ 1044.5 --> - 0.5
[13:30] <@wrbtrader> Covered all ES Short @ 1045.00 --> + 0.75
[13:30] <+jbuch> Long ES @ 1045
[13:30] <@wrbtrader> gave that trade a ton of breathing room to make new intraday lows.
[13:36] <+jbuch> Exited all ES Long @ 1045 --> 0
[13:37] <+jbuch> Long ES @ 1045
[13:38] <+jbuch> Exited all ES Long @ 1044.5 --> - 0.5
[13:39] <@wrbtrader> Shorts ES @ 1044.00 -> medium size
[13:39] <@wrbtrader> 4 only
[13:39] <@wrbtrader> intuition trade
[13:41] <@wrbtrader> support level trying to form
[13:42] <+jbuch> Shorts ES @ 1043.75
[13:43] <@wrbtrader> Covered all ES Short @ 1041.75 --> + 2.25
[13:43] <+rickf_away> vn
[13:44] <+jbuch> Covered all ES Short @ 1042 --> + 1.75
[13:44] <@wrbtrader> glad I didn't give up...took 3 trades to ride it down to a new intraday low (all shorts...1 loser and 2 winners)
[13:45] <+rickf_away> exited 1/2 my SPX 1105/1110 call spread for 50% gain
[13:45] <+jbuch> trading like a monkey with my hair on fire
[13:45] <+jbuch> nice rick
[13:45] <+rickf_away> ty
[13:46] * rickf_away is now known as rickf
[13:46] <@wrbtrader> nice option trade
[13:46] <+rickf> thx
[13:46] <+jbuch> 50% gain in 2 day thats awesome
[13:46] <+rickf> nope - since last friday
[13:46] <+jbuch> oh well never mind
[13:47] <+jbuch>
[13:47] <+rickf>
[13:48] <+Forex2stay> is a monkey trading with it's hair on fire good or bad?
[13:48] <+Forex2stay> lol
[13:50] <+jbuch> he he
[13:51] <+jbuch> doesn't work for me usually.
[13:52] <+rickf> my ToS monkey is smiling at the charts right now, fwiw saying lol
[13:52] <+jbuch> but aven a crazy monkey gets lucky every once in a while
[14:09] <+jbuch> Long ES @ 1043.25
[14:10] <+jbuch> Exited all ES Long @ 1042.75 --> - 0.5
[14:14] <+Nesi> 1037 1039 probably soon..imho
[14:16] <@wrbtrader> There blaming this price drop on the unexpected drop in the housing market after 4 consecutive month of gains in the housing market @ http://www.marketwatch.com/story/us-sto ... 2009-09-24
[14:19] <+jbuch> Long ES @ 1043
[14:21] <@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.
[14:21] <+codehead> 1037.50 then 1033.50 the next majors
[14:23] <+rickf> fyi posted a vid link in the forum to a bloomberg commentary from last evening that i found particularly interesting
[14:23] <+jbuch> Exited all ES Long @ 1042.75 --> - 0.25
[14:23] <+rickf> under trading lounge / trading talk
[14:24] <+jbuch> Shorts ES @ 1042.25
[14:26] <+jbuch> Covered ES Short @ 1042.25 --> 0
[14:26] <+jbuch> Reverse and Enter Long ES @ 1042.25
[14:31] <+jbuch> Exited all ES Long @ 1043.75 --> + 1.5
[14:33] <+rickf> wtg
[14:38] <+jbuch> thanks choppy
[14:38] <+jbuch> oops
[14:38] <+jbuch> it is choppy
[14:38] <@wrbtrader> thanks rickf...direct link @ viewtopic.php?f=41&t=309
[14:39] <+rickf> np
[14:39] <@wrbtrader> be back later...need some rest.
[14:39] * wrbtrader is now known as wrbtrader_away
[14:41] <+rickf> short es 1044 paper
[14:56] <+rickf> short es 1046 (add) paper
[15:30] <+jbuch> Shorts ES @ 1047.25
[15:31] <+jbuch> oops that wasa long
[15:32] <+jbuch> Covered all ES Short @ 1047.25 --> 0
[15:32] <+jbuch> choppy
[15:33] <+jbuch> Shorts ES @ 1046.75
[15:39] <@wrbtrader_away> Shorts ES @ 1045.50 -> medium size
[15:39] <@wrbtrader_away> 4 only
[15:40] * wrbtrader_away is now known as wrbtrader
[15:40] <@wrbtrader> missed 1046.00
[15:42] <@wrbtrader> Covered all ES Short @ 1045.75 --> - 0.25
[15:43] <+Nesi> Covered all ES Short @ 1046.00 --> + 13.5 «« simulator »»
[15:44] <@wrbtrader> nice
[15:44] <+rickf> vn
[15:44] <+rickf> a fire-and-forget trade today?
[15:44] <+Nesi> thx
[15:45] <+Nesi> i just set a stop price and let it go
[15:45] <+rickf> nice
[15:45] <+Nesi> but now it seems bit of bounce going on
[15:51] <@wrbtrader> Long ES @ 1047.25 -> medium size
[15:52] <@wrbtrader> correction
[15:52] <@wrbtrader> Long ES @ 1048.25 -> medium size
[15:52] <@wrbtrader> intuition
[15:53] <@wrbtrader> Emini ES ($ES_F) resistance @ 1049.75 - 1049.00
[15:55] <@wrbtrader> taking some heat on this.
[15:56] <@wrbtrader> Exited all ES Long @ 1046.25 --> - 2
[16:00] <+rickf> exit es 1045,25 -.25 paper
[16:05] <@wrbtrader> Shorts ES @ 1045.25 -> medium size
[16:06] <@wrbtrader> 4 only
[16:06] <@wrbtrader> volatility showed up but it won't last
[16:06] <@wrbtrader> if it does...could turn into a rare runner after 4pm rth close
[16:09] <+rickf> RIMM must have bad #s today
[16:10] <@wrbtrader> Lets put it this way, that -2 point hit I got nailed with was via breaking stock news
[16:11] <+rickf> (
[16:11] <@wrbtrader> Covered all ES Short @ 1045.00 --> + 0.25
[16:12] <@wrbtrader> Shorts ES @ 1044.50 -> medium size
[16:13] <@wrbtrader> 4 only
[16:15] <@wrbtrader> Covered all ES Short @ 1044.25 --> + 0.25
[16:16] <@wrbtrader> Anybody in here using BitDefender Total Security ??
[16:17] <+rickf> nope
[16:17] <+rickf> whats wrong?
[16:17] <+Nesi> I have eset nod32 antivirus
[16:21] <@wrbtrader> I switched to it from Norton...Norton slowed my system down by about 3% while BitDefender doesn't slow it down...but...it doesn't handle well updates to XP Professional.
[16:21] <@wrbtrader> It works good so far on my other system XP home and Vista.
[16:21] <@wrbtrader> The problme is XP Pro
[16:22] <+rickf> the only AV I recommend windows folks use is f-prot .... never had problems with it between windows updates / fixes and it's a cheap, small, robust, and damn fine program for AV
[16:22] <@wrbtrader> Just a heads up to anybody considering using it if you're using XP professional
[16:22] * +rickf recommended it for 15 years as a security person
[16:23] <@wrbtrader> Only problem I had with Norton was caused a slow reboot whenever I shut off my computer and then turned it back on.
[16:23] <winmax60> wrbtrader..you mean... bitdefender or f-prot
[16:24] <@wrbtrader> I'm talking about bit...rickf talking about f-prot
[16:24] <@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.
[16:24] <+winmax60> ok...thanks...
[16:24] <+winmax60> does bit... work also on vista 64bit
[16:25] <@wrbtrader> It's suppose to only had one minor problem with my audio but a reboot fixed it on its own
[16:28] <+TraderG> would anyone know wether it is worth the $ to buy ani7 /920 system compared with an i5/850?
[16:29] <@wrbtrader> Gotta do a reboot of everything...take care and see all tomorrow...got some computer problem solving work to do for the next hour or so.
[16:29] * wrbtrader is now known as wrbtrader_away

Market Summary: Stocks Slide for 2nd Straight Day

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