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 Post subject: July 14th Wednesday - Futures, ETFs and Forex Currencies
 Post Posted: Mon Jul 19, 2010 5:05 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.

This is not a signal calling chat room nor is the chat room designed to be educational. #FuturesTrades is 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. Yet, you will see members providing useful trading tips that may or may not help with your trading.

Therefore, we welcome all traders with their own methods or different perspective of the markets as long as they do not violate our Terms of Use (TOU) Policy.

Thanks for reading the trades or market commentaries that's below and it's highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful trading tips not discussed anywhere else online nor in any books.

Posted by M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

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

Image

Session Start: Wed Jul 14 06:52:20 2010
Session Ident: #FuturesTrades
[06:52:21] * Now talking in #FuturesTrades
[06:52:21] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[07:20:49] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @ http://www.thestrategylab.com/ftchat/forum
[08:49:31] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @ http://www.thestrategylab.com/ftchat/forum
[09:22:46] <rickf> gm
[09:23:21] <Inertia> gm
[09:24:59] <+Inertia> concerning the stats for the direction of the close based on the direction of an opening gap - there is a 50/50 chance that the close will be in the direction of the gap
[09:25:10] <+rickf> how profound
[09:25:11] <pat255> gm all
[09:25:21] <+rickf> ;)
[09:25:33] <+Inertia> ?
[09:25:49] <+Inertia> I thought that there will b some correlation
[09:25:58] <+rickf> 50-50 chance is a high risk price action. it will or it will not.
[09:26:04] <+Inertia> yes
[09:26:10] <+Inertia> exactly = no correlation
[09:26:47] <+rickf> there may be a correlation --- not something i've looked at myself
[09:26:56] <+Inertia> some people think that on a gap day there is a good chance of the move to continue in the direction of the gap but that is not the case
[09:27:38] <+rickf> honestly i rarely pay attention to the gaps unless it's to see a week or two on the chart
[09:28:13] <+rickf> ding
[09:28:33] <+Inertia> next I will look at the relationship between the gap and the close and the time (if the gap did not close let's say whithin x minutes from the open - what is the chance that the move will continue)
[09:37:46] <@wrbtrader> All the fun started in the overnight trading session...just like yesterday :(
[09:38:06] <@wrbtrader> Overnight in reference to prior to 0930am est
[09:38:50] <+pat255> doubt big gaps get filled ..small may be
[09:39:29] <Sidhartha> NQ bit out of sync
[09:39:32] <+pat255> like 2 days ago ..big gap up
[09:40:28] <+rickf> stupid trader trick: always use the correct symbol / fund class when placing orders. d'oh.
[09:40:43] <+rickf> thankfully order got cancelled but screwed my timing on the trade up :(
[09:40:52] <+rickf> stupidstupid
[09:41:08] <+rickf> surprising we are down this morning tho
[09:41:18] <@wrbtrader> [09:40:28] <+rickf> stupid trader trick: always use the correct symbol / fund class when placing orders. d'oh.
[09:41:30] <+rickf> not saying which fund - i know the rules :)
[09:41:33] <@wrbtrader> Oh yeah...I've done a few like that before
[09:41:55] <+rickf> did the instituttional vs. retail class at the close yesterday. oopsie.
[09:42:01] <@wrbtrader> I remember once last year buying Oil futures when I thought I bought the Emini ES
[09:42:03] <@wrbtrader> :)
[09:42:08] <+rickf> OUCH!
[09:42:20] <+rickf> CL better than the DAX though
[09:43:51] <@wrbtrader> Long TF @ 636.90 -> small size
[09:43:59] <@wrbtrader> 3 only
[09:44:15] <@wrbtrader> alittle late...but...
[09:44:40] <+Inertia> news in 15 min
[09:44:52] <+rickf> oh yeah - options expiration this week
[09:44:57] <@wrbtrader> I'm still pulling up my charts...got a late start this morning because of family distractions
[09:47:07] <+pat255> 1,5,15 min rth in uptrend
[09:47:19] <+Inertia> I have a short bias today which caused me to move my stops. luckily I won but this is not good so I will do nothing until after the news to cool off
[09:47:41] <@wrbtrader> Exited all TF Long @ 637.40 --> + 0.5
[09:48:49] <@wrbtrader> Shorts TF @ 636.50 -> small size
[09:48:55] <@wrbtrader> 3 only
[09:49:11] <@wrbtrader> I'm currently about 2 steps behind the market :(
[09:49:47] <+rickf> set yourself to displace +2 and see what happens
[09:49:48] <+pat255> L 89.25
[09:50:04] <+pat255> 88.25
[09:50:21] <@wrbtrader> rickf...I'll need a time machine for such
[09:50:27] <+rickf> ;)
[09:50:43] <+pat255> out -1
[09:52:27] <@wrbtrader> Covered all TF Short @ 636.00 --> + 0.5
[09:54:01] <@wrbtrader> Got a bunch of different gaps in different key markets...tough price action to analyze
[09:57:46] <@wrbtrader> More messy when you look at yesterday's big gap to the upside on the regular session chart
[09:58:04] <@wrbtrader> Confused Markets = Confused Traders
[09:58:16] <+Sidhartha> yup
[09:58:26] <+Sidhartha> i was about to say, I'm not sure the market knows
[09:59:31] <+Sidhartha> the sort of start where you force some trades and just get chopped up
[09:59:34] <@wrbtrader> Long TF @ 635.90 -> medium size
[09:59:37] <@wrbtrader> 4 only
[10:01:02] <@wrbtrader> Exited all TF Long @ 634.70 --> - 1.2
[10:06:19] <@wrbtrader> TF back inside a key price area
[10:08:11] <@wrbtrader> Long TF @ 635.70 -> medium size
[10:08:19] <@wrbtrader> 4 only
[10:08:25] <@wrbtrader> intuition
[10:16:14] <@wrbtrader> Exited all TF Long @ 635.80 --> + 0.1
[10:17:48] <@wrbtrader> Long TF @ 636.30 -> medium size
[10:18:11] <@wrbtrader> punks just grabbing trails
[10:18:17] <@wrbtrader> chop city
[10:18:26] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @ http://www.thestrategylab.com/ftchat/forum
[10:18:36] <@wrbtrader> intuition
[10:20:28] <@wrbtrader> Exited 1/2 TF Long @ 637.50 --> + 1.2
[10:22:49] <+rickf> short es 1089.50
[10:23:07] <@wrbtrader> Price action really hasn't gone anywhere today...reason why I'm just churning and having that feeling I'm behind a few steps
[10:23:56] <@wrbtrader> If my current remainders can turn into a "runner"...I'll feel a lot better about this morning session
[10:24:00] <+Inertia> oil news in 5
[10:24:09] <@wrbtrader> tighten trailing stop
[10:24:52] <@wrbtrader> Exited TF Long @ 638.50 --> + 2.2
[10:24:55] <@wrbtrader> Holding 1 contract remainder
[10:26:05] <JimL1> 639 is approx a-b-c target
[10:26:13] <@wrbtrader> Looking for a runner on this remainder for an exit above 639.10 if the market feels nice to me
[10:26:47] <+pat255> vn N
[10:27:58] <codehead> .500 bounces on NQ and YM
[10:28:25] <+codehead> oil report
[10:29:07] <pdays> Long ES @ 108.50
[10:29:15] <+Inertia> ivn down big time
[10:29:16] <+pdays> oops
[10:29:19] <+Inertia> oil inv
[10:29:23] <+pdays> Long ES @ 1089.5
[10:30:39] <+rickf> exit es 1089.25 +.25
[10:30:41] <+rickf> :(
[10:31:57] <+pdays> Exited all ES Long @ 1090.0 --> + 0.5
[10:34:13] <+rickf> bbl
[10:35:53] <@wrbtrader> Exited TF Long @ 637.50 --> + 1.2
[10:35:53] <@wrbtrader> Reverse and Enter Short TF @ 637.50
[10:36:30] <+pat255> I am looking L here ...:9
[10:37:09] <@wrbtrader> I'm having problems understanding the price action right now...
[10:37:17] <@wrbtrader> may just bail on this trade
[10:38:13] <@wrbtrader> Covered TF Short @ 637.20 --> + 0.3
[10:38:44] <+Sidhartha> markets quite out of sync with NQ open higher today...
[10:39:03] <+Sidhartha> and the bigger sell off in YM towards the close last night
[10:48:47] <+Inertia> could b a good idea 2 do nothing until after the FOMC news @2PM EST
[11:08:22] <@wrbtrader> A few markets starting to show higher lows with higher highs
[11:08:40] <+pat255> y both futs are HH HL
[11:15:40] <hp102> very funny - check out this: http://www.youtube.com/watch?v=qdIr422SjCc&NR=1 (scene from bedazzled)
[11:19:03] <@wrbtrader> Long TF @ 640.00 -> small size
[11:19:07] <@wrbtrader> 2 only
[11:19:10] <@wrbtrader> intuition
[11:19:22] <@wrbtrader> price action inside of a key price area
[11:19:55] <+Sidhartha> big resistance level around 1094 ish level in ES
[11:20:44] <@wrbtrader> geeesh
[11:23:45] <@wrbtrader> Exited all TF Long @ 640.70 --> + 0.7
[11:23:50] <@wrbtrader> Gap filled
[11:25:02] <+Sidhartha> wrbtrader, what do you have as last nights close in TF...?
[11:25:26] <+Sidhartha> just chekcing... i've a few charting issues recently around the end of session times
[11:27:38] <+pat255> N your ebtry is from 1m chart? or lower tf
[11:29:22] <@wrbtrader> Sid - I have 644.40
[11:29:47] <@wrbtrader> ooops...that's wrong
[11:30:12] <@wrbtrader> 644.10
[11:31:02] <+Sidhartha> what time...?
[11:31:35] <@wrbtrader> When you say last nights close...you're talking about TF closing price for yesterday
[11:31:41] <+Sidhartha> yes
[11:31:46] <+Sidhartha> 644.1..?
[11:31:47] <@wrbtrader> That's the price I have for 4:15pm est
[11:32:46] <@wrbtrader> pat...that last trade was via the 2min and 3min chart
[11:33:10] <+Sidhartha> I have the high yesterdya of TF as 642.9... are we talking about the same thing...?
[11:33:29] <+pat255> k ty but that was break of high but usually also use 2 3 mins charts?
[11:33:33] <@wrbtrader> probably not :(
[11:37:10] <@wrbtrader> pat...I always have on my monitor the 1min, 2min, 3min, 5min and 15min chart
[11:37:25] <@wrbtrader> I just happen to be looking only at the 2min and 3min chart at the time of the trade
[11:37:49] <@wrbtrader> could have easily been looking at the other charts if I had more eyes :)
[11:37:49] <+pat255> ah ha k ..so u cud take entry from any of them ?
[11:38:09] <@wrbtrader> Yes...I can take a "intuition" trade without charts :)
[11:38:19] <@wrbtrader> don't know if it will be profitable
[11:38:21] <+pat255> yes that too :)
[11:38:53] <+pat255> i need to do that sometimes I fel it but dont take it but will start doing it
[11:39:07] <+pat255> atleast attempt to do it
[11:47:04] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @ http://www.thestrategylab.com/ftchat/forum
[12:20:02] <@wrbtrader> I'm taking a long lunch...may not be back in time to trade the late p.m. session
[12:20:30] <@wrbtrader> Doing a family lunch down on the St. Lawerance
[12:20:39] * wrbtrader is now known as wrbtrader_away
[13:16:06] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @ http://www.thestrategylab.com/ftchat/forum
[13:59:12] <+JimL1> WTF, came back to trade FOMC & looks like soemone leaked it:<<<
[14:31:50] <+JimL1> looks like oil started tf (et al) down & the Fed piled on
[14:34:23] <+JimL1> cl made 2x boittom & cleared 1st up swing up, maybe some recovery now
[14:34:53] <+rickf> back
[14:35:22] <+JimL1> trying to scalp tf, but market (bid.ask) very thin scalping for 2-5 ticks at most
[14:38:22] <+Sidhartha> tough squeezing much out of this...
[14:38:46] <+rickf> if it pops to around 1090 i'd prolly go short
[14:39:07] <+rickf> if it makes it up there, obviously
[14:39:27] <+Sidhartha> that's about VWAP right now
[14:40:00] <+rickf> what can i say ;) --- and no, i don't use vwap.
[14:44:59] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @ http://www.thestrategylab.com/ftchat/forum
[15:08:11] <+codehead> Ym bounce got within a tick of .500
[15:08:30] <+codehead> NQ .500 was 1850.00, so they broke the sotp there for a few ticks, then it rolled over
[15:21:53] <+JimL1> trying to clear vwaps now
[15:23:38] <+JimL1> whcih by happen stance, near todays opens
[15:27:17] <+codehead> NQ tapped .618 there exactly
[15:29:48] <+codehead> and symmetry
[15:30:02] <+codehead> ES hit pivot
[16:10:56] <@X> #FuturesTrades Purpose -> Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended. More info about the chat room @ http://www.thestrategylab.com/ftchat/forum
Session Close: Wed Jul 14 17:09:11 2010

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

#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 methods and different perspective of the markets. 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.

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 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

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 UsdCdn

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, e-miNY QM and Natural Gas NG

Image COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

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 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 analysis)
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
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