#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)
------------------------
Session Start: Fri Jul 16 08:37:42 2010
Session Ident: #FuturesTrades
[08:37:42] * Now talking in #FuturesTrades
[08:37:42] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:36:33] <@wrbtrader> Similar down draft before the open that we saw yesterday
[09:36:43] <pat255>
all
[09:36:51] <+pat255> @ofice :9
[09:42:35] <@wrbtrader> Shorts TF @ 625.10 -> small size
[09:42:42] <@wrbtrader> 3 only
[09:42:50] <@wrbtrader> intuition
[09:45:10] <@wrbtrader> Covered all TF Short @ 623.70 --> + 1.4
[09:46:45] <@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[09:47:21] <JimL1> not fast enuff should have sold it again
[09:50:43] <+pat255> L 80 es paper
[09:52:15] <+pat255> out -1
[09:53:57] <+pat255> heading for yesterday low
[09:55:28] <Sidhartha> crikey... moving fast
[09:55:31] <+pat255> oh my ...
[09:55:31] <+Sidhartha> any news...
[09:55:36] <+JimL1> no volume
[09:55:50] <@wrbtrader> Yes...price reaction to the 0955am est news
[09:55:55] <+pat255> may get disconnected heavy rains ;(
[09:56:06] <@wrbtrader> most likely leaked around 0945am est
[09:56:09] <+JimL1> pulled volumes during news
[09:56:52] <+JimL1> voulem rebuilding on the DOM's now
[09:57:51] <@wrbtrader> weak support area
[09:57:59] <@wrbtrader> if Longs show up...I'm buying too
[09:58:35] <@wrbtrader> However, with this much downside pressure...I'll manage the risky trade much better via 1 - 2 contrasts only
[10:00:07] <@wrbtrader> support established with help from contracting volatility
[10:00:14] <@wrbtrader> now lets see what happens with the Longs
[10:00:25] <@wrbtrader> looking for knife catchers to show up
[10:00:35] <+pat255> lol
[10:05:20] <@wrbtrader> Long TF @ 618.50 -> small size
[10:05:24] <@wrbtrader> 2 only
[10:05:53] <@wrbtrader> won't hang around too long
[10:06:23] <@wrbtrader> Exited all TF Long @ 617.90 --> - 0.6
[10:07:00] <@wrbtrader> Shorts TF @ 616.90 -> medium size
[10:07:04] <@wrbtrader> 4 ony
[10:07:09] <@wrbtrader> support failure
[10:08:54] <@wrbtrader> Covered 3/4 TF Short @ 615.60 --> + 1.3
[10:10:34] <@wrbtrader> Covered Remainder TF Short @ 616.50 --> + 0.4
[11:13:45] <@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[12:43:46] <@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[13:18:26] <codehead> AAPL green
[13:35:51] <rickf> hi all
[13:53:11] <@wrbtrader> Just got back from a long lunch
[13:54:18] <+rickf> just got back from interview --- university 'murder board' job interview
[13:54:26] <+rickf> you had more fun.
[13:55:17] <+pat255> what job are u looking for rick?
[13:55:24] <+rickf> university reaching
[13:56:19] <@wrbtrader> University jobs are almost like Government jobs...once you get in...you can never get out
[13:56:46] <+rickf> hotel california.
[13:56:50] <@wrbtrader> Yep
[13:57:01] <+pat255> what area u teach rick?
[13:57:15] <+rickf> information security, cybersecurity, cyberwarfare, etc
[13:57:32] <+pat255> k
[13:57:57] <+rickf> with evening study sessions on trading lol
[13:58:16] <+pat255> nice u on west coast?
[13:58:25] <+rickf> DC
[13:58:35] <+pat255> k
[13:58:59] <+rickf> what sucked was hearing the SPX dropping this morning on the radio and not being able to catch it......didn't want to call the trade desk, that'd be too weird. lol
[14:04:04] <@wrbtrader> With most universities connected well into the internet and many universities having each dorm fully equiped with cable or dsl connections for each room...
[14:04:25] <@wrbtrader> More students are trading today in comparison to the 90's.
[14:04:48] <+rickf> yeeah - i see occasional ET posters saying they're trading from their dorms
[14:07:26] <@wrbtrader> Now we know what's going on with those student loans and grants...they're using it to fund their trading accounts
[14:07:58] <+rickf>
[14:09:20] <Time4now> ouch, that's debt that will never disappear
[14:10:08] <+rickf> actually paid for a good chunk of my tuition via FX futures --- my Uni is in Australia, so exchange rates were kind of fun these past few years
[14:10:46] <@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[14:23:08] <Richie> hi guys
[14:23:58] <+rickf> whole lotta nothing this afternoon
[14:25:13] <+Richie> i don't know what the normal etiquette is on irc so if as a newbie and without anything to contribute trading-wise for the moment i am supposed to shut up, please let me know, but...
[14:27:29] <+rickf> as long as you're polite and not trolling or otherwise pssing off our benevolent host, i think you'll be fine
[14:28:22] <+Richie> don't want to promise too much :-)
[14:28:55] <+rickf> no worries, we're a decent group here --- rather mature place to learn, actually.....helped me out a bit
[14:29:50] <+Richie> cool. i ve been trading full time for 5, nearly 6 years now, which obviously does NOT mean I can't learn anything new
[14:30:17] <+rickf> just stick around, watch and learn, that's how communities are built.
[14:30:28] <+Richie> but I trade from europe and usually close shop at 2 london time
[14:30:58] <+Richie> so i can't really contribute much about what is going on NOW
[14:31:26] <+rickf> no worries - we've had euro traders here
[14:33:24] <Inertia> what do u trade?
[14:33:27] <+Richie> I was wondering as I have been and am trading from an office but am considering trading from home going onwards if you guys have any troubles with execution?
[14:33:53] <+Richie> latency i believe technically more gifted people call it
[14:34:10] <+Richie> i trade mainly teds
[14:34:24] <+Richie> euribor-schatz/bobl/bund
[14:34:36] <+rickf> nifty
[14:34:36] <+Richie> eurodollar-2yr/5yrs
[14:34:44] <+Richie> etc
[14:34:49] <+Richie> spreads
[14:35:08] <+Inertia> so u buy/sell 2 instruments @ a time?
[14:35:13] <@wrbtrader> Richie...in the past when I traded the Eurex and Euronext...I had execution problems.
[14:35:23] <@wrbtrader> More than I did when trading the Emini futures
[14:36:06] <+Richie> well mark you are sending the signal accross the atlantic...
[14:36:24] <+Richie> exactly inertia
[14:36:45] <+Richie> that's why it's so important that you get THE price you want
[14:36:57] <+Richie> pain in the back otherwise
[14:42:41] <+rickf> tempting to chase this creep, but not sure i trust it given the time and expiration
[14:42:51] <+codehead> 1062.50 is .382
[14:43:02] <+rickf> if it breaks down it will break hard i think
[14:45:27] <+Inertia> since Jul 16 2day is 1 of the largest drops on a daily basis so not sure how much more it can drop but I would not stand in front of it
[14:47:35] <+rickf> yup
[14:48:01] <+rickf> tho a quiet afternoon --- hard lesson i learned is "never trade a dull market"
[14:48:24] <+Inertia> again a losing day.
[14:48:35] <+rickf> break your rules?
[14:48:51] <+Inertia> on the bright side, I will have less taxes 2 pay next year
[14:48:57] <+Inertia> y
[14:49:07] <+rickf> ;((
[14:49:31] <+Inertia> not as bad as the usual
[14:50:23] <+Inertia> did a few counter trend trads (by the book) but it makes no sense to do that and then not do the same with the trend. there is a lot more $$ in the trend direction
[14:51:24] <+Inertia> I don't understand why I felt more secure going against the trend and I am afraid to go with the trend.
[14:51:46] <+rickf> and i'm the opposite
[14:51:48] <+Inertia> the risk was obviously higher going against the trend
[14:52:05] <+Inertia> opposite how?
[14:52:26] <@wrbtrader> Price action has been creeping downwards most of the trading day...
[14:52:38] <+Inertia> it's a down day. practically every retracement was a winner had 1 shorted it
[14:52:38] <+pat255> y
[14:52:39] <@wrbtrader> Glad I've been mostly on the sidelines to prevent losses
[14:52:41] <+rickf> i prefer going with the trend
[14:52:49] <@wrbtrader> Creeper price action is very tough to trade
[14:52:51] <+rickf> wrbtrader - yeah slow creeper
[14:53:03] <+Inertia> logically me 2 but in practice I am afraid
[14:53:18] <+rickf> imho counter-trend is akin to picking tops and bottoms, which has burned me in the past
[14:53:28] <+Inertia> I agree
[14:53:37] <+rickf> plus it keeps me from over-trading ;:)
[14:53:52] <+Inertia> but how do u explain the comfort level which in my case is higher going against the trend?
[14:54:08] <+rickf> dunno - all a matter of personal psychology i guess
[14:54:28] <+Inertia> I was asking u in the capacity of a shrink.....
)
[14:54:49] <+rickf> ahhh my couch is closed for business today
[14:55:03] <+Inertia> really - this is my problem.
[14:55:12] <+Inertia> too bad. maybe next week then
[14:55:19] <+rickf> do you FEEL a need to go against the trend?
[14:55:24] <+Inertia> no
[14:55:30] <+Inertia> I am just not afraid
[14:55:38] <+rickf> how do you define a trend?
[14:55:58] <+Inertia> lower lows lower highs and vice versa
[14:56:23] <+Inertia> small bars (short or no wicks)
[14:57:02] <+Inertia> volume ondulating with peaks and troughs
[14:57:02] <+rickf> hrmm.
[14:57:32] <+Inertia> since 11AM EST we have a beautiful trend day. text book case
[14:57:48] <+Inertia> I see it but cannot take advantage of it
[14:57:57] <+rickf> dunno what to say, honestly.....we all have our own trading styles / personalities / methods
[14:58:09] <+Inertia> somekind of a Greek Mythological torture
[14:58:11] <+rickf> were i here, i'd have been short around 1045-1100 ET
[14:58:24] <+rickf> set my target price and get out.
[14:58:46] <+rickf> maybe trail a stop if i wanted to 'rude the trend'
[14:59:15] <+rickf> maybe another short around 1340 ET
[14:59:24] <+rickf> (based on how I would trade with the trend)
[14:59:29] <+rickf> looking at 5m ES chart
[14:59:41] <+rickf> but alas, i wasn't here. *sniffle*
[14:59:44] <+Inertia> right now I am afraid that if I would go short on the next retracement it will kill me by going up strongly
[15:00:22] <+rickf> sounds like you have a hard time finding entry points in a trend-- ie the pop ps before dropping down
[15:00:26] <+Inertia> *hugging RF* don't cry...
[15:00:47] <+Inertia> actually no
[15:00:59] <+Inertia> the entries are clearly defined
[15:01:29] <+rickf> you just cant fire off the trade?
[15:02:04] <+Inertia> Shorts TF @ 610.4 «« simulator »»
[15:02:11] <+Inertia> let's c
[15:02:27] <@wrbtrader> I'm calling it quits for the day...not willing to trade this creeper price action.
[15:02:27] <+rickf> for me until this market breaks one way or other, i am sidelined
[15:02:28] <+Inertia> not the best signal but close enough
[15:03:50] <@wrbtrader> Going to go to the store to get some "barbless" fishing hooks so that I don't need to get them surgically removed when the kids hook me instead of getting it into the river
[15:03:59] <+rickf>
[15:04:00] <@wrbtrader> Take care and see all on Monday.
[15:04:03] <+rickf> cya
[15:04:12] <+pat255> lol N
[15:04:35] <+Time4now> bye
[15:04:43] <+pat255> u gotta warn them to leave papa alone or else
[15:04:55] <+pat255> k later N
[15:04:58] <+Inertia> Covered all TF Short @ 611.4 --> - 1 «« simulator »»
[15:05:08] <+Inertia>
[15:05:14] <+Inertia> glad it was not live
[15:05:21] <+Time4now> you don't have to "buy" barbless
[15:05:26] <+rickf> TF what timeframe?
[15:05:45] <+Time4now> just take a pair of needle nose pliers and crimp them down
[15:05:57] <+Time4now> good to go
[15:06:42] <+Inertia> 1 min
[15:07:13] <+rickf> ouch ... too fast for me.
[15:07:20] <+Inertia> direction was good but timing was off
[15:07:45] <+rickf> 609 or 612 would be my breakeven points to do a trade imho
[15:07:52] <+rickf> anything else it's chop in my view
[15:07:57] <+Inertia> stop might have been 2 close
[15:09:24] <+rickf> how tight?
[15:11:01] <+Inertia> i set it to 1 point
[15:11:16] <+rickf> *shrug*
[15:11:17] <+Inertia> should have set it to prior peak
[15:11:48] <+rickf> i dunno .... tho i rarely use stops myself
[15:11:57] <+Inertia> so here we r 3 points after the stop ......... which would actually b a profit of 2 points
[15:12:27] <+codehead> ES .382 on reg session is 1061.50
[15:12:38] <+rickf> the HARDEST HARDEST lesson for me to learn was to accept that a trade may move against me and to not panic or stop myself out due to 'noise'
[15:12:44] <+codehead> last chance to bounce, very ugly day
[15:14:04] <+rickf> ruh row.....going down
[15:15:21] <+rickf> any bets on when Geitner pushes the PPT 'buy' button?
[15:16:40] <+codehead> he doesn't have to
[15:16:44] <+codehead> it's options expiry
[15:16:49] <+rickf> true
[15:16:53] <+codehead> if button gets pressed, it's GS etc. ;-)
[15:17:03] <+codehead> we're only at .382 on ES
[15:17:10] <+codehead> of course, all in one day
[15:17:12] <+rickf> i would not be surprised to see a massive spike up to 1080-ish to settle
[15:17:12] <+codehead> lol
[15:17:30] <+codehead> it would sure help the options writers
[15:17:40] <+rickf> yup
[15:17:41] <+codehead> (lol was to my comment, not yours)
[15:18:29] <+codehead> see what happens at 3:30
[15:18:37] <+rickf> yup
[15:18:50] <+codehead> Ym hit a support # too, but ES and Ym have had little ups
[15:19:11] <+codehead> NQ was stronger, but getting weary
[15:24:05] <+Time4now> 605.8 is the close of a gap on 7th
[15:27:17] <+Inertia> I am looking at SPY daily. we lost everything we made in the last 6 6 trading days
[15:27:34] <+Inertia> 6 6 >> 6
[15:27:55] <+rickf> right back at support from may
[15:28:03] <+rickf> good catch
[15:32:15] <+Time4now> I'm sure all these shorters will be encouraged to take some profits at this point.
[15:37:10] <+rickf> still sidelined ... going long would be against my rules.
[15:40:47] <@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[15:47:42] <+rickf> was hoping to short from 1065. oh well
[15:56:53] <+rickf> meh ... done looking @ this.
[15:56:59] <+rickf> have a good w/e all ... see you next week
[15:57:11] <+rickf> it's margarita (or beverage-du-jour) time!
[16:07:40] <+Time4now> bye all
[17:10:47] <@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/forumSession Close: Fri Jul 16 17:24:45 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=5The 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:
CME Emini Futures EMD, ES and NQ
ICE Emini TF Futures (formerly CME ER2)
CBOT mini-sized Dow Futures YM
Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50
Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz
Euronext Futures FTSE-100 and CAC-40
CME Futures EuroFX 6E and EC
Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB
Forex Currencies GBPUSD, EurUsd, EurYen and UsdCdn
Exchange Traded Funds VXX, DIA, IWM, QQQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD
NYMEX Energy Futures Light Crude Oil CL, e-miNY QM and Natural Gas NG
COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI
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)
@
http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
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