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Posted by M.A. Perry
Trader and Founder of
WRB Analysis (wide range body analysis)
------------------------
Session Start: Fri Dec 11 00:00:00 2009
Session Ident: #futurestrades
[01:38] <@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.
[03:15] <mistaker> Good morning
[03:16] <+mistaker> I had one trade already, long @ 1101.25 exited at 1102.25
[03:42] <+mistaker> Went in again long at 1102.25, exited at 1103.25
[06:52] <+mistaker> Hey Trader
[08:40] <werner>
all
[08:42] <+mistaker> Morning
[08:43] <+mistaker> Uninspiring move at 8:30
[08:57] <Nesi> hi all
[08:57] <+mistaker> Hey Nesi
[08:57] <pat255>
all
[08:57] <+Nesi> wow dollar and oil
[08:58] <+pat255> eur S but where?
[09:04] <+Nesi> dollar strong
[09:04] <+pat255> y
[09:04] <+Nesi> gold losing it
[09:04] <+Nesi> oil probably goes under 70
[09:15] <+Nesi> i took my loss yesterday.. 28 points
[09:16] <+Nesi> but i feel better now
[09:16] <+pat255> omg nesi u need to take smaller stops
[09:16] <+Nesi> yup
[09:16] <+pat255> lose 1-2 pts k ...
[09:16] <+Nesi> stupidity..lol
[09:17] <+pat255> now i follow n & jb just smaller stops
[09:17] <+Nesi> i took it in the chin...lol
[09:17] <+pat255> v hard to recoup
[09:18] <+Nesi> no, i feel much better now
[09:18] <+pat255> k ...
[09:18] <+Nesi> brand new day
[09:18] <+pat255> new day ...start fresh
[09:18] <+Nesi> i felt sick while i was in that trade
[09:19] <+pat255> now i think that i should hedge in another fut at the same time
[09:20] <+pat255> let the loser stop out & go with the winning
[09:20] <+pat255> one
[09:25] <Forex2stay> morning everyone
[09:26] <+mistaker> Mornin
[09:26] <+mistaker> Morning
[09:26] <+mistaker> We've still got consumer sentiment on deck at 9:55 am ET
[09:29] <drt>
everyone
[09:30] <+Nesi> good trading all
[09:39] <jbuch> morning all
[09:39] <+Nesi> jb
[09:42] <+Nesi> tight range so far
[09:44] <+mistaker> Dollar is going higher
[09:48] * wrbtrader_away is now known as wrbtrader
[09:48] <+mistaker> Hi wrb
[09:48] <+Nesi> quote es please
[09:48] <@wrbtrader> Hi mistaker and good morning all...late because of a long distance phone call.
[09:49] <+mistaker> 1100.50
[09:49] <+mistaker> March
[09:49] <+Nesi> thanks
[09:50] <+mistaker> Falling
[09:51] <@wrbtrader> Shorts ES @ 1099.25 -> large size
[09:51] <@wrbtrader> 9 only
[09:53] <+Nesi> Shorts ES @ 1099.00
[09:54] <@wrbtrader> Covered all ES Short @ 1100.25 --> - 1
[09:55] <@wrbtrader> Long ES @ 1101.50 -> large size
[09:56] <@wrbtrader> 9 only
[09:57] <@wrbtrader> Exited all ES Long @ 1102.25 --> + 0.75
[09:57] <@wrbtrader> Rarely do I forget about a pending schedule key market event and I did such when I took that Short position...should have tighten my stop but didn't
[09:58] <@wrbtrader> Long ES @ 1103.25 -> large size
[09:58] <@wrbtrader> 9 only
[09:58] <@wrbtrader> intuition
[09:58] <+mistaker> Next report in a minute
[09:58] <+mistaker> Business Inventory
[09:59] <@wrbtrader> in reaction to the prior trade
[09:59] <@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.
[09:59] <@wrbtrader> My CBOT is down (no data)...anybody else having similar problems
??
[10:00] <+Nesi> same here
[10:00] <+pat255> nope
[10:00] <@wrbtrader> ok...thanks
[10:01] <@wrbtrader> Exited all ES Long @ 1103.00 --> - 0.25
[10:02] <@wrbtrader> Shorts ES @ 1102.75 -> large size
[10:02] <@wrbtrader> 9 only
[10:04] <@wrbtrader> Covered all ES Short @ 1103.25 --> - 0.5
[10:04] <@wrbtrader> Shorts ES @ 1102.75 -> large size
[10:05] <+Nesi> my YM is down
[10:05] <@wrbtrader> 3 trades within 3 ticks of each other
[10:05] <@wrbtrader> Need to be careful and not get caught in a range
[10:05] <+Nesi> doolar about to make new high
[10:06] <+Nesi> oil almost going under 70
[10:06] <+Nesi> and gold at low
[10:06] <@wrbtrader> Yes it is.
[10:06] <@wrbtrader> If that dollar is going to make another move...right now would be great considering I Short
[10:07] <+Nesi> just did it
[10:07] <+Nesi> oil under
[10:08] <+Nesi> wow oil
[10:08] <@wrbtrader> Key markets in sync now...that makes for easier trading
[10:09] <+Nesi> short squeeze big time.. dollar
[10:10] <+Nesi> OIL FUTURES: Nymex Crude Hits 2-Month Low On Stronger Dollar
[10:10] <@wrbtrader> EuroFX 6E and Forex EurUsd trying to go lower...both dropped below a major support today
[10:12] <@wrbtrader> Covered all ES Short @ 1101.75 --> + 1
[10:12] <@wrbtrader>
[10:12] <@wrbtrader> thought for sure I would get about 2 - 3 points before the first wiggle out attempt in the price action
[10:14] <+Nesi> ouch gold
[10:14] <+mistaker> I was expecting a wider range for today's trading
[10:14] <+Nesi> yeh
[10:14] <+mistaker> I had two trades in the European session, and we've not even come close to those highs
[10:15] <+Nesi> dollar attacking again
[10:16] <+Nesi> new high dollar
[10:16] <@wrbtrader> Shorts ES @ 1101.25 -> large size
[10:16] <@wrbtrader> 9 only
[10:16] <+Nesi> Shorts ES @ 1101.00 -> Add
[10:16] <@wrbtrader> slipper dog the price action is today so far
[10:17] <@wrbtrader> slipper = slippery
[10:17] <+Nesi> squeeeze dolalr
[10:19] <+mistaker> I might call it a day, too choppy
[10:19] <+pat255> y
[10:20] <@wrbtrader> Covered all ES Short @ 1101.00 --> + 0.25
[10:20] <+mistaker> I had two nice trades in the early session
[10:20] <+mistaker> This range isn't too my liking, feel like I'd be scalping for ticks
[10:20] <+mistaker> on weak moves
[10:20] <@wrbtrader> I held that as long as I could...it still doesn't want to produce a volatility spike on the way down
[10:20] <+Nesi> may do it now
[10:21] <+mistaker> I expect us to get some traction downwards at some point
[10:21] <+pat255> tight range killing on both sides
[10:21] <@wrbtrader> Shorts ES @ 1100.25 -> large size
[10:21] <+Nesi> dollar non stop
[10:21] <@wrbtrader> 6 only
[10:21] <@wrbtrader> volatility dropping
[10:21] <+mistaker> I don't like taking short positions on support levels
[10:21] <@wrbtrader> will begin decreasing my overall position size
[10:21] <+mistaker> without some confirmation through volume
[10:22] <+Nesi> amazing dollar
[10:23] <+Nesi> big big suppoert 1100
[10:23] <+pat255> 1098 heer S
[10:24] <@wrbtrader> no clues why Eminis
so hard to stay above this weak support area.
[10:24] <+mistaker> These little bounces off support get weaker each time, should crack with the DX rising still
[10:24] <@wrbtrader> I'm lost in the forrest
[10:25] <@wrbtrader> Covered all ES Short @ 1101.00 --> - 0.75
[10:25] <+pat255> just muddling here
[10:25] <+Nesi> Covered all ES Short @ 1101.50 --> - 3
[10:26] <+mistaker> I think in Hell the ES trades between 1011 and 1011.50 each session for all time
[10:29] <@wrbtrader> Long ES @ 1101.75 -> large size
[10:29] <@wrbtrader> 6 only
[10:31] <+Nesi> Shorts ES @ 1101.25
[10:31] <+pat255> 3 pt range
[10:32] <+Nesi> Covered all ES Short @ 1102.50 --> - 1.25
[10:32] <@wrbtrader> Exited all ES Long @ 1102.75 --> + 1
[10:32] * codehead_afk is now known as codehead
[10:39] <+Nesi> Shorts ES @ 1102.25
[10:45] <+Nesi> Shorts ES @ 1101.50 -> Add
[10:45] <+pat255> looks like another slow day ..
[10:45] <+pat255> news did not do anything
[10:47] <@wrbtrader> Long ES @ 1102.00 -> small size
[10:47] <@wrbtrader> 3 only
[10:48] <@wrbtrader> volatility declining more and range tightning
[10:49] <+Nesi> u guys watching the dolalr/
[10:50] <+Nesi> another high
[10:50] <@wrbtrader> Yes
[10:50] <+pat255> y nesi too late for anything on eur
[10:50] <+Nesi> i hear about another default.. ukraine?
[10:50] <+Nesi> not sure
[10:50] <@wrbtrader> In fact, I feel lost in the price action right now and will exit thiis trade early to take a break
[10:51] <@wrbtrader> Exited all ES Long @ 1102.25 --> + 0.25
[10:51] <@wrbtrader> sidelined for awhile...will just watch several different key markets.
[10:52] <+Nesi> Ukraine appeals to IMF for $2bn loan - FT
[10:52] <+Nesi> Ukraine has made an urgent appeal to the International Monetary Fund for about $2bn in emergency loans to ease “an extremely difficult situation” in meeting its external obligations and avoid the danger of a “spill-over effect” on other economically vulnerable states.
[10:52] <+Nesi>
http://www.unian.net/eng/news/news-351670.html[10:52] <+Nesi> gold about t make new low
[10:52] <+Nesi> strage day
[10:52] <+Nesi> strange
[10:54] <+Nesi> amazing dollar
[10:54] <+Nesi> gold keeps drilling
[10:57] <+Nesi> Covered all ES Short @ 1103.25 --> - 2.75
[11:03] <+Nesi> Shorts ES @ 1102.00
[11:05] <+Forex2stay> all USD econ releases this morning were $$ positive, so that could also be helping move the EU down
[11:06] <+Forex2stay> once EU got below yesterdays range it was a free fall
[11:07] <+Nesi> Shorts ES @ 1101.00 -> Add
[11:14] <+Nesi> 1100 seems like wall of china
[11:14] <+Nesi> dollar again..trying to make new high
[11:17] <+jbuch> the relationship between the $ and the markets don't seem as inverse as they have been
[11:19] <+Nesi> again the dollar
[11:19] <+Nesi> non stop
[11:19] <+Nesi> come on ES, drill
[11:19] <+Nesi> die
[11:19] <+Nesi> you pos
[11:20] <+Nesi> gold.. u guys watching it
[11:20] <+Nesi> wowze
[11:20] <+pat255> y
[11:20] <+pat255> ws green in am
[11:20] <+Nesi> dieeeeeee es
[11:21] <+Nesi> exit stop set ES @ 1101.50
[11:21] <+pat255> vn nesi
[11:21] <+Nesi> breakeven
[11:21] <+Nesi> i get stopped out or i get many points
[11:21] <+jbuch> nice Nesi
[11:21] <+Nesi> amazing dollar
[11:22] <+Nesi> ES should have been down 10 points already.. if it was following the dollar and gold...and oil
[11:22] <+Nesi> etc
[11:22] <+mistaker> lower the stop Nesi
[11:22] <+mistaker> protect some of those gains
[11:23] <+Nesi> 1101 ok
[11:23] <+mistaker> 1097 is an area of support
[11:23] <+mistaker> might be hard to crack considering today's action
[11:23] <+Nesi> strange action
[11:24] <+Nesi> dieeeeeeeeeeee
[11:25] <+pat255> vn
[11:28] <+codehead> NQ tapped .618
[11:31] <+codehead> long NQ 1785.50 <paper>
[11:33] <+codehead> exit half +1.75 <paper>
[11:33] <+jbuch> Shorts ES @ 1098.25
[11:35] <+codehead> 2 pt stop on NQ remainder <paper>
[11:36] <+Nesi> dieee
[11:39] <+jbuch> Covered all ES Short @ 1098.75 --> - 0.5
[11:41] <+jbuch> Shorts ES @ 1098
[11:44] <+jbuch> Covered all ES Short @ 1098 --> 0
[11:45] <+codehead> raise stop b/e <paper> remainder
[11:45] <+codehead> hit
[11:45] <+codehead> 1784.00 need to hold on NQ
[11:46] <+codehead> 1782
[11:49] <+jbuch> boy NQ plummeted
[11:49] <+pat255> y
[11:50] <+codehead> yeah, it hit a key # pre market, then sold off all day since
[11:50] <+codehead> lower highs and lows since the touch
[11:51] <+codehead> in bounceable area tho
[11:51] <+codehead> 1788.50 first bounce target
[11:52] <+jbuch> this market not really worth trading might take a very long xmas vaca
[11:53] <+codehead> 1811.00 was the level, it hit 1811.50 pre
[11:58] <+jbuch> Long ES @ 1097.5
[12:02] <@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.
[12:09] <+jbuch> shooting for 99.75
[12:10] <+werner> i see
[12:10] <+werner> go go
[12:11] <+jbuch> Exited all ES Long @ 1099. --> + 1.5
[12:11] <+werner> nice
[12:12] <+jbuch> couldn't hang
[12:12] <+codehead> 1100.50 and 1101.75 are symmetry points
[12:12] <+jbuch> thabks
[12:12] <+werner> lol
[12:12] <+codehead> oil finally got higher low then higher high
[12:12] <+jbuch> there it is
[12:13] <+werner> greedy .......
[12:13] <+jbuch> nice steady lil march up there.
[12:16] <+werner> Shorts NQ @ 1099
[12:23] <+codehead> oil continuing to show inprovement
[12:25] <+werner> Shorts NQ @ 1199.50 -> Add
[12:29] <+werner> its es
[12:34] <+werner> Covered all NQ Short @ 1099.25 --> + 100
[12:34] <+werner> lol
[12:34] <+werner> Covered all NQ Short @ 1199.25 --> - 100.25
[12:35] <+werner> mmm
[12:35] <matinthehat> how?
[12:36] <+mistaker> I am done for the day / week
[12:37] <+mistaker> Had three trades today
[12:37] <+werner> all out 1099.25
[12:41] <+codehead> boy, was looking at NQ at the time, but that low on ES was a real nice symmetry point
[12:44] * mistaker is now known as mistaker_away
[12:57] <+Nesi> Covered all ES Short @ 1101.00 --> + 1
[13:02] <+codehead> 1792.50 is NQ level
[13:13] <+codehead> ES hit the major intraday symmetry, 1101.75
[13:25] <+Nesi> Shorts ES @ 1100.00
[13:39] <+codehead> YM strong
[13:39] <+codehead> retesting hod, no wekaness yet
[13:42] <@wrbtrader> Long ES @ 1101.50 -> small size
[13:43] <@wrbtrader> 1 only
[13:44] <@wrbtrader> Exited ES Long @ 1101.00 --> - 0.5
[14:05] <@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.
[14:05] <@wrbtrader> Long ES @ 1101.75 -> small size
[14:05] <@wrbtrader> 2 only
[14:08] <@wrbtrader> Exited all ES Long @ 1102.25 --> + 0.5
[14:09] <@wrbtrader> still very little price action...
[14:10] <+Nesi> Covered all ES Short @ 1102.25 --> - 2.25
[14:11] <+codehead> hm, YM filled gap
[14:11] <+codehead> fromt he 7th
[14:21] <mo2t> took 3 trades today, -1 pt on YM. Thing not too bad in this market. Have a nice weekend.
[14:24] <+codehead> NQ retested .500, still no break
[14:30] <+Nesi> US House approves sweeping financial regulation overhaul bill- Reuters
[14:32] <+Nesi>
http://www.reuters.com/article/idUSTRE5B90CY20091210[14:32] <+pat255> man what a slow mkt ..
[14:33] <+pat255> thks nesi
[14:48] <@wrbtrader> The best price action to trade after 0930am est was between 1100am - 1145am est and I wasn't even here for that
[14:48] <+Nesi> have a great weekend all
[14:49] <+pat255> u too neai
[14:49] <@wrbtrader> Everything else has been either low volatility tight trading range or low volatility creeper price action.
[14:49] <+pat255> nesi
[14:50] <@wrbtrader> May take my +5 points and call it quits because I suspect this price action will continue to smell into the close.
[14:58] <+pat255> y looks like ...
[15:21] <+pat255> N u there?
[15:25] <+jbuch> had an order at 1101 for 4 min hit it about 10 times no fill
[15:25] <+jbuch> that is a dead market
[15:27] <+pat255> for L entry?
[15:28] <+jbuch> yeah
[15:29] <+jbuch> look at her go that makes me sad
.
[15:29] <+pat255> y
[15:35] <@wrbtrader> I don't know where the bulk of the price action is at exactly but it looks like it's between 1103 - 1099
[15:36] <@wrbtrader> That's a 4 point range
[15:36] <+pat255> just been tuff all day
[15:39] <@wrbtrader> Reading - "The House OK's a sweeping overhaul of financial regulations" @
http://www.dailyfinance.com/2009/12/11/ ... gulations/[15:39] <+jbuch> haven't really been watching the market all weekbut it looks likeit was a tough week
[15:40] <+jbuch> around these big holidays it might be better to just go skiing
[15:40] <@wrbtrader> My trading tends to slow down a lot in December
[15:40] <+jbuch> bam
[15:41] <+jbuch> the handicap ramp up and a rocket back down
[15:41] <@wrbtrader> Unfortunately, I've seen too many traders join #FuturesTrades in December thinking that the Market is hot and that #FuturesTrades is sluggish (boring)
[15:41] <@wrbtrader>
[15:42] <@wrbtrader> In reference to new members that join in December
[15:43] <+pat255> lol Dec is dangerous month
[15:44] <+pat255> k guys have a peaceful weekend ty all
[15:44] <+pat255> see u all next week
[15:44] <+jbuch> take care pat
[15:46] <+jbuch> Shorts ES @ 1101
[15:48] <+jbuch> shoot back at 1100
[15:49] <@wrbtrader> Shorts ES @ 1100.00 -> small size
[15:49] <@wrbtrader> 2 only
[15:50] <+jbuch> Covered all ES Short @ 1100.5 --> + 0.5
[15:50] <@wrbtrader> Covered all ES Short @ 1100.25 --> - 0.25
[15:51] <+jbuch> thought if it broke it would run
[15:51] <@wrbtrader> It tried but volatility quickly dried up...may try again
[15:52] <@wrbtrader> Shorts ES @ 1100.50 -> small size
[15:52] <@wrbtrader> 3 only
[15:52] <@wrbtrader> volatility picking up again
[15:52] <@wrbtrader> It's got a "little help" from oil but will need Gold to push it through that support area
[15:56] <@wrbtrader> Covered all ES Short @ 1101.25 --> - 0.75
[15:56] <@wrbtrader> Both Oil and Gold found support
[15:59] <@wrbtrader> Long ES @ 1101.25 -> medium size
[15:59] <@wrbtrader> 4 only
[16:01] <@wrbtrader> Lets the profits run and minimize the losses...seems to be the only edge for today's trading session.
[16:01] <@wrbtrader> Exited all ES Long @ 1102.50 --> + 1.25
[16:02] <+jbuch> nice
[16:02] <+jbuch> good strategy on all days in my opinion
[16:03] <@wrbtrader> Had a difficult price zone to play with...in review...it was too tight to play.
[16:03] <@wrbtrader> Got a lucky additional +0.75 tick on that last trade than expected.
[16:05] <+codehead> INDU right at the closing high of the year
[16:05] <+codehead> within a tenth
[16:06] <+codehead> .15
[16:06] <+jbuch> wow
[16:08] <@wrbtrader> EuroFX and Forex EurUsd fell asleep around 1130am est after the big price drop from 0830am - 1125am est.
[16:09] <+jbuch> it is interesting that the dollar and the indexes kept their gains
[16:09] <@wrbtrader> Yeah...I was a little surprise the Eurodollar didn't put up a better fight
[16:10] <@wrbtrader> Will read more this weekend about what actually happen today in the currencies.
[16:10] <+jbuch> just noticed nq that got pummeled
[16:11] <@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.
[16:11] <+jbuch> have a good weekend everyone
[16:11] <+werner> dito all
[16:12] <@wrbtrader> Take care all and have a good/safe weekend.
[16:12] * wrbtrader is now known as wrbtrader_away
-------------------------
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