##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: Mon Sep 28 09:28:52 2009
Session Ident: #futurestrades
[09:28] * Now talking in #futurestrades
[09:28] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:29] <drt> all
[09:30] <rickf>
[09:31] <Forex2stay>
[09:32] <jbuch> morning all
[09:33] <OICU812> GM
[09:33] <TraderG>
[09:34] <+TraderG> raining cats and dogs here
[09:34] <+TraderG> and some water too
[09:34] <+jbuch>
[09:35] <pat255> no report today
[09:35] <@wrbtrader> Long ES @ 1045.25 -> large size
[09:35] <@wrbtrader> 9 only
[09:37] <@wrbtrader> Exited all ES Long @ 1045.25 --> 0
[09:38] <+pat255> was good entry ...missed it
[09:39] <@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.
[09:39] <pdays> Shorts TF @ 599.7
[09:40] <+pdays> Covered 1/2 TF Short @ 599.4 --> + 0.3
[09:40] <+pdays> Covered Remainder TF Short @ 599.2 --> + 0.5
[09:40] <+jbuch> Long ES @ 1045.25
[09:42] <@wrbtrader> Shorts ES @ 1046.25 -> large size
[09:42] <@wrbtrader> 9 only
[09:43] <+rickf> for some reason i have been futzing with my chart timeframes this past week -- not sure why, almost like i'm hunting for an entry or something
[09:43] <+rickf> i used to have 2 timeframes -- premarket-until-10 and then one for the rest of the day
[09:43] <@wrbtrader> Covered all ES Short @ 1047.50 --> - 1.25
[09:43] <+rickf> i don't like doing that so frequently
[09:44] <+jbuch> Exited all ES Long @ 1047.75 --> + 2.5
[09:44] <+rickf> vm jb
[09:44] <+jbuch> thanks
[09:45] <+pat255> geez ...
[09:45] <+pat255> vn jb
[09:46] <+jbuch> not as nice as it coulda been
[09:46] <+pat255> man just took off
[09:46] <@wrbtrader> ES is within a BIG window of supply/demand right now 1057.00 - 1048.75
[09:46] <codehead> short ES 1051.00
[09:47] <+jbuch> thought we would stay in that range for a while longer
[09:47] <+codehead> stop 152.25
[09:47] <+jbuch> Long ES @ 1050.75
[09:48] <+jbuch> Exited all ES Long @ 1051.75 --> + 1
[09:53] <+codehead> stopped out -1.25
[09:55] <@wrbtrader> Shorts ES @ 1052.25 -> large size
[09:55] <@wrbtrader> 9 only
[09:59] <+jbuch> Long ES @ 1051.5
[09:59] <@wrbtrader> Covered all ES Short @ 1051.75 --> + 0.5
[10:00] <@wrbtrader> that's actually a late post
[10:00] <@wrbtrader> be back later...gotta take care of a bad cough I have
[10:00] * wrbtrader is now known as wrbtrader_away
[10:00] <+jbuch> Exited all ES Long @ 1053.5 --> + 2
[10:01] <+OICU812> nice trading today jb
[10:01] <+jbuch> thanks oic
[10:15] * wrbtrader_away is now known as wrbtrader
[10:16] <@wrbtrader> We're a lot closer now to that 1057 area of that big zone
[10:16] <+pat255> y seems pent up demand after 2-3 days of down draft
[10:18] <+OICU812> tying a short
[10:18] <+OICU812> lets see how it does
[10:20] <+OICU812> scaled 54
[10:20] <@wrbtrader> Long ES @ 1054.00 -> large size
[10:20] <@wrbtrader> 6 only
[10:20] <@wrbtrader> volatility declining
[10:27] <@wrbtrader> Exited all ES Long @ 1054.00 --> 0
[10:28] <@wrbtrader> next trade will most likely be an intuition trade
[10:29] <@wrbtrader> Long ES @ 1054.25 -> large size
[10:29] <@wrbtrader> 9 only
[10:31] <+OICU812> well BE on the last leg of my short
[10:32] <+pat255> vn N ...gutsy trade ..
[10:33] <@wrbtrader> Exited all ES Long @ 1056.25 --> + 2
[10:33] <@wrbtrader> that's an EARLY exit
[10:33] <@wrbtrader> my uncontrollable cough has returned...
[10:34] <@wrbtrader> Going to go to the pharmacy and get some medicine...be back later.
[10:34] * wrbtrader is now known as wrbtrader_away
[10:37] <+jbuch> strong up move but the vol is realtively light especially when compared with last weeks plummetwhich was on extremely high vol
[10:38] <+pat255> unbelievable
[10:38] <+codehead> short ES 1056.75 <paper>
[10:38] <+codehead> 5 ticks stop
[10:38] <+codehead> close ot a small gap fill, otherwise it goes to 1060
[10:39] <+codehead> Jewish holiday today, right?
[10:39] <+jbuch> nice tick divg
[10:39] <+codehead> exit half ES +1.00 <paper>
[10:46] <+OICU812> prepping for a move down?
[10:46] <+OICU812> looks like the one up has exhausted
[10:47] <+OICU812> bit unsure at this time
[10:48] <+codehead> 1052.75 downside target first on ES
[10:49] <+codehead> if that was top for now
[10:52] <+codehead> lower stop to 1057.25 <paper>
[11:07] <+codehead> exit remainder ES +.25<paper>
[11:07] <+codehead> taking too long, may go to 1060
[11:15] <+codehead> German mkt helping things up
[11:15] <+codehead> election
[11:15] <+jbuch> just bought some uso in case isreal bombs Iran
[11:17] <+codehead> lol--mccain... bomb bomb, bomb bomb iran...
[11:18] <+codehead> who can forget that little gem
[11:18] <Nesi> hi all
[11:19] <+jbuch> hey nesi
[11:19] <+pat255> hi nesi
[11:19] <+pat255> jb USO oil?
[11:20] <+jbuch> yeah code that was a riot when McCain lost it I espacially liked how he laterplayed it off as just a joke
[11:21] <+codehead> great moments in politics
[11:21] <+jbuch> yeah pat
[11:23] <+jbuch> USO chart looks UUUUGLY but will GIVE IT A RUN
[11:23] <+Nesi> Shorts ES @ 1056.75 «« simulator »»
[11:26] <+codehead> ES filled a gap
[11:26] <+codehead> 1057.25
[11:26] <+codehead> short 1c ES 1056.50 <paper>
[11:27] <+codehead> 6 tick stop for now
[11:28] <+jbuch> Long ES @ 1057
[11:31] <+codehead> stopped on ES 1c -1.5
[11:34] <+jbuch> Exited all ES Long @ 1058 --> + 1
[11:34] <+pat255> vn jb ..gutsy but correct trade
[11:34] <+jbuch> chased it all the way up from 56.5
[11:35] <+jbuch> so bad entry with a large stop but with trend so it worked for a lil bit
[11:35] <+pat255> 2-3 ticks not bad
[11:36] <+Nesi> Shorts ES @ 1057.50 -> Add «« simulator »»
[11:45] <@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.
[12:13] <+OICU812> non stop up day
[13:04] <+jbuch> Long ES @ 1058.25
[13:12] <+jbuch> exit stop set ES @ 1057.5
[13:23] <+jbuch> Exited all ES Long @ 1058.5 --> + 0.25
[13:48] <@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.
[13:56] <tomosyn57> Shorts SSO @ 34.75
[13:59] <+tomosyn57> Covered 1/2 SSO Short @ 34.73 --> + 0.02
[14:01] <+rickf> long es 1058.75 paper
[14:02] <+tomosyn57> Covered Remainder SSO Short @ 34.76 --> - 0.01
[14:07] * code is now known as codehead
[14:21] <+jbuch> Long ES @ 1058.5
[14:22] <+jbuch> wasn't paying attention missed the good entry at 57.75
[14:27] <+rickf> exit es 1059 +.25 paper
[14:28] <+rickf> lol
[14:30] <+jbuch> Exited all ES Long @ 1059 --> + 0.5
[14:31] <+Nesi> majority expecting a rally here..imho.. for big 10k again, usually majority is wrong
[14:47] <+jbuch> Long ES @ 1058
[14:57] <+jbuch> looks reaaly good on the 30 min if we can maintain
[15:00] <+jbuch> ruh roh
[15:01] <+rickf> 1057 congestion area on the 30m, no?
[15:01] <+jbuch> Exited all ES Long @ 1057.25 --> - 0.75
[15:01] <+rickf> then cler to 1068-70 i would think if we break through that
[15:02] <+jbuch> we had a double hammer but crumpled the last couple of seconds
[15:02] <+rickf> the past week i've been sorely tempted to just stick with a 5m chart -- too tempting to enter in the middle of chop
[15:03] <+jbuch> Long ES @ 1057
[15:03] <+rickf> sell stop 1056 paper
[15:09] <+rickf> getting conflicting signals here -- still holding out for a short breakdown though
[15:10] <jigglyhippo> jb
[15:10] <+jigglyhippo> I'm long with you at 1057
[15:10] <+jbuch> u might be waiting for a while
[15:10] <+jigglyhippo> stop at 1055
[15:10] <+jbuch>
[15:10] <+rickf> lol
[15:11] <+jbuch> should'nt have said that the surest way to have a set up fail is cockiness.
[15:12] <+jbuch> the trading gods no like it
[15:12] <+rickf> right now it could go either way ... as i said, conflicting signals to me
[15:12] <+jigglyhippo> they will smite you!
[15:12] <+jbuch> lol
[15:12] <+jbuch> looks like they want to
[15:13] <+jbuch> they will probably come back down tag me out and then go
[15:19] <+jigglyhippo> wheres your stop
[15:19] <+jbuch> here we go
[15:20] <+jbuch> sorry jh just saw the below the last swing at 1056
[15:20] <+jigglyhippo> cool
[15:23] <+jigglyhippo> exited 1/2 at 1059
[15:24] <+jbuch> good place to bail only have 1 trying to move my stop up
[15:26] <+jigglyhippo> ill bail if it hits 1058 again
[15:30] <+jigglyhippo> taken out
[15:30] <+jigglyhippo> 1058
[15:30] <+jbuch> Exited all ES Long @ 1057.75 --> + 0.75
[15:31] <+jbuch> been kicking my self in the arse for early exits on trades the last couple of days and the one I try to hang onto fails.
[15:32] <+jigglyhippo> tough man
[15:32] <+jigglyhippo> sounds very frustrating
[15:32] <+jbuch> don't piss the gods off
[15:34] <+jbuch> Long ES @ 1058.5
[15:35] <+jbuch> I am lighting some incense at the alter
[15:35] <+jigglyhippo> lol
[15:44] <+jbuch> Exited all ES Long @ 1057.75 --> - 0.75
[15:49] <+rickf> short @ 1056 paper
[15:51] <@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.
[15:52] <+jbuch> Long ES @ 1056.5
[15:53] <+Nesi> Covered all ES Short @ 1056.75 --> + 0.75 «« simulator »»
[15:53] <+Nesi> good night all
[15:54] <codehead> 1060.50 was .618 bounce, 1075.5 market high to overnight low 1035.75
[15:54] <+codehead> i did a chart last night with level at 1060.0-1060.50
[15:54] <+codehead> (1060.0 was symmetry)
[15:54] <+codehead> i didn't think it would get there in one move tho :-/
[15:56] <+jbuch> what a choppy biatch
[15:58] <OICU812> +1 jb
[15:58] <+OICU812> but trend seems down
[15:59] <+jbuch> shame it so late
[16:00] <+jbuch> Exited all ES Long @ 1058.5 --> + 2
[16:00] <+jbuch> ohh lucky exit
[16:00] <+OICU812>
[16:00] <+jbuch> I am back in favor with the gods
[16:00] <+OICU812> nice one
[16:02] <+OICU812> well guys
[16:02] <+OICU812> have a good PM
[16:02] <+rickf> back - out at 57.50 -1.5 paper
[16:03] * +rickf serves me right for doing a counter-trend setup :|
[16:04] <+rickf> er, trying to predict a breakout
[16:13] <+jigglyhippo> later everyone
[16:13] <+jigglyhippo> see you guys tomrrow
[17:57] <@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.

Market Summary: Stocks Bounce Back

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