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E-mini Trading Room Conversation April 15, 2013

This is an early entry of the e-mini trading room conversation transcript. None of my entries will be excluded from these conversations and the only edits will come from those who wish to not be included and those who violate room rules. I hope that you can grab the bits and peices to make sense of reasoning as well as approach to trading.

This is meant to be informative and educational for all traders including those who may have arrived late to the room. The room begins for each trader as they enter and some information can be missed. All kinds of events can occur that would prevent me from including the day's conversation such as temporary internet issues which log my own account. It is my goal to provide all transcript, but it is not a guarantee that I will be able to do so. This early conversation was not accompanied by time stamps, but future conversations will include timestamp's for greater use.

The E-mini Room Transcript Without Timestamps

thnickster: gm?
schoolin: Hello
asiaexpat: morning
Tom: gm
thnickster: TF took a tradable dive there
thnickster: anybody trade gold
TomG: long Tf at 23.5 out at 25.2 went to fast for me to call
Tom: Good trade
thnickster: nice
asiaexpat: i been simiing gold for hours
TomG: nice Mike
asiaexpat: getting about 80% right
TomG: see I remembered your name
asiaexpat: yes----need a good memory in this business
asiaexpat: gold in a tight cahannel at present
amiles: is Chris around then
asiaexpat: wow that gold spike down ignored my stop
asiaexpat: is that a sim thing
Tom: That is not just a sim thing. It can ignore stops. That is where you get slippage. That is the reason I do not like Oil or Gold.
asiaexpat: aha it can gap over your stop
asiaexpat: thats dangerous
Tom: VERY!
asiaexpat: unless it can also gap over your fill
asiaexpat: does that also happen?
Tom: Not sure about that.
TomG: Ive had that trading silver when the moves are to violent
TomG: I had a trrade where I was up about 3 .5 points and when it closed I was only up about 2.25 because of the slippage
asiaexpat: wow
asiaexpat: u closed it manually?
thnickster: had that stuff when I used IB long ago
thnickster: drove me nuts
asiaexpat: im using ib
thnickster: the thing with IB is they don't go tick by tick. It is an accumulative thing.
asiaexpat: so i heard
thnickster: I always kept the phone number handy because I had to get out of trades despite the DOM.
asiaexpat: that sucks
thnickster: TF looks like a bear pennant on 5 min chart
Humber: thanks
thnickster: short stop on TF at 23
Chris: russ lookin bad
Chris: whoops...'russ looking bad'
SueL: 921.6 needs to hold
SueL: for the bulls
SueL: Chris, did you trade oil this AM??
Terry: gm
Terry: looking for long in 6j
TomG: morning Terry
Terry: hey Tomg
Chris: no Sue..I couldn't convince myself to do it last night ...I'll send email when I do
SueL: ok
Chris: may be an earlier time span so I'll let everyone know
thnickster: in TF short at 23
SueL: looking for..
thnickster: 20 or so with the break
Tom: Nice
TomG: good trade Nick
thnickster: out 21.8
SueL: see how they defended 921.6
thnickster: yes
thnickster: lost momentum
Terry: long 6j at 185
SueL: if they hold back upto 953 this week
TomG: Sue what size chart are you looking at to find teh 21.6 support level
SueL: just a fib level
SueL: from 907.20 to 951.3
SueL: to 945
SueL: not 951.3
TomG: OK thanks
thnickster: I don't see a support level at 21.6 unless I go to a weekly. I see loss of momentum there, but if it is
thnickster: a defended area there should be more hits at 21.6
SueL: it is a 61.8%
SueL: it came that far; weakness indeed.
thnickster: Yeah. I place more credence at 50%, but if multitudes of traders use fibs..then the fibs will work in my opinion
thnickster: kind of self perpetuating which validates it I guess
thnickster: what a dump
T omG: short 20.5
thnickster: nice one
Tom: Another great call
Tom: dump
TomG: out 18.2
thnickster: short es at 70.25 if it hits it
thnickster: again
thnickster: missed that one
thnickster: 58,25 short if it hits it again
TomG: got out to early, lookede like it was going to retrace a bit so I took the profit
thnickster: in
thnickster: that was 68.25
thnickster: sorry
Terry: out 205
Terry: +20 ticks
thnickster: out 66.75
TomG: nice Terry, good job
Terry: ty tomg
TomG: very good nick
TomG: Chris are you doing anything?
Chris: not yet
thnickster: short 14
thnickster: out 12.8
thnickster: big support coming up
thnickster: looks like 907 or so
SueL: TomG, I think today is one of those days where Chris won't trade.
Chris: haha I'm glad you guys are finally getting the feel of my style
Chris: I'm still interested though
Tom: Hey Chris
Chris: hey Tom
Chris: today is def one of those days where any trader can make dumb moves...I'm no exception...so I'm sitting on hands for a bit
Terry: at 12.3
Terry: out
asiaexpat: i had a great day today--followed my plan-stuck with a strategy and am up 21 ticks for the day
Chris: nice job
asiaexpat: and most of all- i resisted to trade cash-- was in sim all day
asiaexpat: i can't sustain the losses i have been taking
Chris: nice discipline
asiaexpat: its seems to be a natural process
asiaexpat: i just reacheda breaking point
asiaexpat: i will continue with this until i have consistant up days
asiaexpat: on the bad side--i was playing around with gold in sim--lost 6k
SueL: ?
Humber: hello everyone, im new here, is anybody trading e-sp mini??
asiaexpat: NQ for me
Humber: ok thanks asiaexpat
Chris: from time to time Humber
Chris: mostly TF for me
Chris: I know there are others who do though
Humber: ok thanks Chris
Humber: what is TF??
Chris: sorry, That is the russell futures.
Humber: ah ok, thanks
asiaexpat: how volatile is the TF??
asiaexpat: similar to ES
thnickster: more volatile in my opinion than ES, but you get more if you get it right
asiaexpat: bigger spikes--longer moves??
thnickster: short stop 6E at 73
thnickster: in 6e vmt has left.
thnickster: -3 ticks on 6E
thnickster: getting late in the day for 6E now
asiaexpat: im outta here good trading everyone
Humber: see you later guys, good trading
Terry: calling it a day got softball practice....very good day!!!
thnickster: yes
Terry: ?
thnickster: I had a bunch myself
thnickster: and then dropped 3 ticks
Terry: same her and no losers
Terry: here
thnickster: short on TF at 0
Terry: good trading to all
thnickster: that was 11.0
thnickster: 911.0
thnickster: out 909.8
thnickster: made a ton on TF today
thnickster: these are my kind of trades
TomG: good job Nick
thnickster: thnx. Took a loss on 6E and look at it now.
thnickster: Finished for the day. See you all.
thnickster: and good trading
TomG: done for today, very profitable day, see you tomorrow

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