Thursday, June 6, 2013

June 6 2013

Not only are we having a great trading session, we hit this beauty titled "How do you profit from the market crash?" Simple: you follow the trend and take tested and proven setups.

Together with some interesting discussions of trader's development, made for a good day.

Session Time: Thu Jun 06 00:00:01 2013
[08:46] {dino} gm
[08:47] {thomcbell} gm
01[08:47] {&Threei}  dino :)
01[08:47] {&Threei}  tbell :)
[09:02] {stevw} g'mornin lads
01[09:02] {&Threei}  stev :)
[09:03] {_traderasc} gm
01[09:04] {&Threei}  morning traderasc, welcome to the room
[09:05] {dptl} gm
01[09:05] {&Threei}  dp :)
[09:06] {stevw} pleased to meet you, traderasc; what part of world do you hail from?
[09:06] {_traderasc} India :D
[09:06] {dino} welcome to our jungle -traderasc
01[09:07] {&Threei}  wow... our geography widens
[09:07] {stevw} cool!
01[09:07] {&Threei}  switzerland, germany, india... shipped a course to australia yesterday
01[09:08] {&Threei}  where is our spanish friend, still sleeping?
[09:09] {+cc_9} Good morning fellas
[09:09] {backman} gm
01[09:09] {&Threei}  cc9, bman :)
[09:10] {nemo} we're going to test the gap today it looks like
[09:11] {jdetente} Good morning...
[09:11] {stevw} futures were up before the labor data, but i'm seeing gap downs now
01[09:12] {&Threei}  jd :)
[09:13] {nemo} easy to push the futures around in pre-market to set up a fade
[09:13] {RonS} hi everyone
01[09:13] {&Threei}  ron :)
[09:15] {nemo} I feel so ignored...
[09:15] {nemo} not like I'm Les
01[09:15] {&Threei}  doesn't it make you feel good?
[09:16] {nemo} more so when the girlfriend ignores's peaceful
[09:16] {Will49} gm
01[09:16] {&Threei}  and, I didn't see you complaining when I skyped you the newest sophisticated insult, with permission to use at will
[09:17] {stevw} man, i love those days when my wife ignores me!
01[09:17] {&Threei}  not at this will
01[09:17] {&Threei}  hi will
[09:17] {Will49} hi
[09:17] {nemo} yes, but have to have right situation
[09:17] {dino} lol stevw
01[09:18] {&Threei}  see? I care enough to arm you for the situation that is not even there yet
01[09:18] {&Threei}  and you complain
[09:20] {Les} morning
01[09:20] {&Threei}  les :)
[09:21] {Alexs} gm
01[09:23] {&Threei}  alex :)
[09:25] {cipher} gm
01[09:26] {&Threei}  cipher :)
[09:30] {+cc_9} buy vs sell algos, lets see who wins the first 5 mins
01[09:32] {&Threei} Long Setup:  TZA  .15 break hl
01[09:32] {&Threei}  If holds  .05
01[09:33] {&Threei}  stop to .09
01[09:33] {&Threei}  out
01[09:34] {&Threei} Short Setup: GDX  .85
01[09:34] {&Threei}  If holds  .95
[09:35] {dino} hci sm l .50
[09:35] {dino} athn sm l .15
[09:35] {dino} wide on both
01[09:36] {&Threei}  1:1
[09:37] {+cc_9} Another day, another SSO }}
01[09:37] {&Threei} Long Setup:  TZA  .60 break
[09:37] {thomcbell} kors 61.18 long break
01[09:38] {&Threei}  If holds  .55
[09:39] {+cc_9} Out SSO +$0.49
01[09:39] {&Threei}  meh
[09:43] {thomcbell} kors no go
01[09:44] {&Threei} Long Setup:  GDX  .20 break
01[09:44] {&Threei}  sorry
01[09:44] {&Threei}  qwrong symbol
01[09:44] {&Threei} Long Setup:  C  .20 break
01[09:44] {&Threei}  If holds  .10
[09:45] {_epach} gm
01[09:45] {&Threei}  here comes spain
01[09:45] {&Threei}  morning epach
01[09:45] {&Threei}  Invalidated  C
[09:45] {Les} oh lol. thought u meant market was about to go down the toilet
[09:46] {dino} hci to .00
01[09:46] {&Threei}  just continuing international theme, started by entrance if a guest from India this morning :)
01[09:46] {&Threei}  if = of
[09:46] {Les} ah ok
[09:47] {dino} hci to .24
[09:50] {dino} out hci .23, +.73
01[09:50] {&Threei} Short Setup: JPM  53 break
01[09:50] {&Threei}  If holds  .05
[09:52] {thomcbell} lvs presumably good news and muted action -
01[09:53] {&Threei}  1:1
[09:53] {_epach} INTC .84 long
[09:54] {_epach} if hols .80
[09:54] {_epach} holds
[09:55] {nemo} pay
01[09:55] {&Threei}  1:2
01[09:55] {&Threei}  finally hooked a good one
[09:55] {_epach} inval
[09:55] {Will49} YES
[09:55] {dino} out athn .95, +.80
[09:57] {dino} iep drop, thinny
[10:00] {Will49} got 1:2 tks Vad
01[10:00] {&Threei}  yw
[10:01] {+cc_9} Round 2 SSO }}
[10:01] {_epach} INTC .86 LOng if hols .80?
01[10:02] {&Threei}  INTC is way too narrow for my taste, don't want to fight for 5 cents
[10:03] {_epach} ok
[10:03] {_epach} ty
01[10:09] {&Threei} Long Setup:  IWM  .80 break
01[10:10] {&Threei}  If holds  .70
01[10:10] {&Threei}  Invalidated
[10:11] {_epach} JPM .02 Long if holds .95
01[10:11] {&Threei}  yes, just do half lot
[10:12] {_epach} ok
01[10:12] {&Threei}  volatility is a bit higher than normal
[10:12] {_epach} $vix } 17
[10:14] {_epach} Inval or maybe could be recross?
[10:14] {Les} I took the view that the early bears are being shook off for another leg down, so shorted JPM at the DT under .20 holding 100 shares for hopefully to after lunch
[10:14] {+cc_9} Scaling long this SPY $161.40
[10:15] {_epach} y'r right. ty
[10:16] {Les} I see cc's play...
[10:16] {Les} by the sea shore
[10:16] {Will49} :) goo les
[10:16] {Will49} good
[10:17] {Will49} see what happens when you don't fight with nemo?
[10:17] {Will49} opens up your creativity
[10:17] {Les} 15 mins tightening up. new swing move coming but which way...
[10:17] {Les} oh piss off will
[10:18] {Will49} :)
[10:18] {nemo} fight?  it's more like scolding a child
[10:18] {Will49} you scold, he fights
[10:19] {nemo} insect buzzing
[10:19] {Les} yeh I let go of my ego Nemo
06[10:20] * nemo faints
01[10:20] {&Threei}  hey, not bad!
[10:21] {+cc_9} SPY bounce off .40 scale lovely
[10:21] {+cc_9} cashing out TNA :D
[10:21] {Les} nicely done
01[10:22] {&Threei} Long Setup:  JPM  .95 break
[10:23] {+cc_9} TNA entry on that SPY 162.40 setup }}
01[10:23] {&Threei}  change to .90 break
[10:23] {+cc_9} TNA exit on that SPY bounce }}
01[10:24] {&Threei}  If holds  .80
[10:24] {thomcbell} hope someone shorted lvs
01[10:25] {&Threei}  good call
01[10:26] {&Threei}  change to .85 break
01[10:26] {&Threei}  Invalidated
[10:29] {nemo} crm looks like going to test the gap
[10:30] {dino} dhi sm l .25
[10:31] {_epach} LVS euphoria?
[10:31] {nemo} look to short 57-57.10 area
[10:32] {_epach} ok.ty
01[10:32] {&Threei}  friking JPM got away
[10:32] {_epach} 1:1 JPM
[10:32] {_epach} ty Vad
01[10:33] {&Threei}  yw...
[10:33] {jdetente} yeah JPM finally settled itself
[10:34] {nemo} sorry dude lvs only got to .95
[10:34] {Les} tza closing in on 33
[10:35] {Les} l .92 holding .80
[10:35] {Les} half out .99
01[10:37] {&Threei} Short Setup: JPM  .80 break
01[10:37] {&Threei}  If holds  .85
01[10:37] {&Threei}  very tight stop
01[10:37] {&Threei}  but target is about 20 cents if works
01[10:40] {&Threei}  and, as Yoda would say, go we here
01[10:40] {&Threei}  1:1
[10:40] {dptl} watching PCL for .70 break short HL
[10:40] {+cc_9} IWM keeps bouncing hard off yesterday's close 96.40, plenty stops below it, see if holds
01[10:41] {&Threei}  my bet is, it will break it and dive hard
01[10:41] {&Threei}  or die hard
01[10:41] {&Threei}  5th installation of which is a crap
01[10:42] {&Threei} Short Setup: IWM  .40 break
01[10:42] {&Threei}  If holds  .50
[10:42] {jdetente} nope
01[10:43] {&Threei}  JPM could do just 1:1
01[10:43] {&Threei}  oh well
[10:43] {+cc_9} And bounce lol
[10:44] {Les} tight ass day in 15 min bb's could be sideways
[10:44] {+cc_9} i wish everyday could be like the past 3 days
[10:44] {+cc_9} SSO / SDS  |  TNA / TZA from bell to bell
[10:46] {nemo} anybody watch the Bruins game last night?
[10:46] {jdetente} yup
[10:46] {jdetente} that was a great game
[10:46] {nemo} I didn't stay up for overtime, but that poor bastard got his leg broken on that slapshot and stayed in
[10:46] {jdetente} My brother lives in Pittsburgh so I root against the Pens haha
[10:47] {jdetente} I saw that play...didn't know it was broken
[10:47] {nemo} I live south of Boston, so I root against the Pens
[10:47] {Will49} one of the best games all year
[10:47] {nemo} They were iffy this year, but when they pulled out that game 7 against Toronto I thought they might have found their far so good
[10:48] {jdetente} must kill the Pens fans that Jagr started the winning play
[10:48] {backman} and i live N of i root against those S of Boston :=)
01[10:49] {&Threei} Short Setup: JPM  53 break
01[10:49] {&Threei}  If holds  .05
[10:50] {dptl} LCC .35 short
01[10:51] {&Threei}  1:1
[10:51] {_epach} 1:2 JPM
[10:51] {_epach} ty Vad
01[10:52] {&Threei}  yw
[10:52] {jdetente} scalped it thanks Vad
01[10:52] {&Threei}  :)
[10:52] {Les} took lions share scalp fishing for more
[10:52] {_epach} Vad, what is your email address?
01[10:53] {&Threei}
[10:53] {_epach} ty
[10:53] {nemo}
[10:53] {Les} alerting all google bots and nigerian scammers
[10:54] {dino} slow day
01[10:54] {&Threei}  here my 20 cents on JPM come (thanks Yoda)
[10:54] {nemo}
[10:55] {Les} .82 partial
01[10:55] {&Threei}  choking stop to .86
[10:55] {Les} c'mon baby go all the way
01[10:55] {&Threei}  1/4 out .81
[10:56] {_epach} 1:4 too and out. ty again
01[10:56] {&Threei}  :)
01[10:56] {&Threei}  your math is too precise
[10:56] {Les} hmmm iwm .50
[10:56] {Les} ready to go lower?
01[10:57] {&Threei}  since we don't uisually scalp for 5 cents, we simply consider 10 ceents to be 1:1, even when stop is 5 cents
[10:57] {Will49} out jpm tks Vad
01[10:57] {&Threei}  just for uniformity of alerts
01[10:57] {&Threei}  yw
[10:57] {Les} that be vad's mathematics
[10:57] {Les} and to think, he built buildings
[10:57] {dptl} invalidated lcc
01[10:57] {&Threei}  and more than that, they still stand erect
[10:57] {nemo} if OXY drops city
[10:57] {Les} :P
01[10:58] {&Threei}  even scarier, Les:
[10:58] {backman} ...and in his youth to leap buildings in a single bound
[10:58] {Les} quieten down brown noser
01[10:58] {&Threei}  my specialty was not civil construction but industrial one,
01[10:58] {&Threei}  and in my city it meant checal and metallurgical plants
01[10:59] {&Threei}  chemical
[10:59] {backman} i in your way? :=)
01[10:59] {&Threei}  chemical one offically produced fertilizer
01[10:59] {&Threei}  guess what it did in reeality'
[10:59] {Will49} careful bman...don't raise his ire
[10:59] {Les} nah bman, but Nemo ain't here, so I'm fillin
[11:00] {nemo} gonna' love this...I just watched soda get traded on my account and it had nothing to do with me
[11:00] {Les} nerve gas vad?
01[11:00] {&Threei}  hint: it was very militarized country in the day
[11:00] {+cc_9} Take a look @ that IWM 96.40 from earlier
[11:00] {+cc_9} 10:40 cc_9 IWM keeps bouncing hard off yesterday's close 96.40, plenty stops below it, see if holds
[11:00] {Les} yeh flat bb's just playin the range cc
[11:00] {+cc_9} 3 times in a row today, like taking candy from a crippled orphan child
[11:00] {Les} market waiting for something
[11:01] {Les} you must be an American cc :P
[11:01] {+cc_9} replace candy with burger
[11:01] {Les} lol
[11:01] {+cc_9} why Les, would you like a dose of freedom ?
[11:02] {RonS} suggesting divorce cc?
01[11:02] {&Threei}  freedom fries with that?
[11:03] {Les} hehehe can imagine all the billionaires in switzerland dreading that day
[11:04] {Les} mind u, Washington doing decent job strong arming swiss banks already
[11:04] {Les} freedom all round
03[11:05] * Retrieving #discussions modes...
[11:06] {Les} heeeeeeee's baaack!!
01[11:07] {&Threei} Long Setup:  JPM  .05 break
01[11:07] {&Threei}  aggressive for .10
01[11:07] {&Threei}  If holds  53
01[11:08] {&Threei}  target is 20 cents again, with usual partials
01[11:10] {&Threei}  1:1
01[11:11] {&Threei}  to account for today's volatility increase and keep stop tighter, picking entries allowing for this kind of stops, yet leaving room for nicer targets
01[11:11] {&Threei}  might lead to more stops than usual but overall, works nicely
01[11:11] {&Threei}  these days are more about right management than stock picking
[11:11] {Les} damn hashed my exit out .18 ty
01[11:11] {&Threei}  as stev found out yesterday :)
01[11:12] {&Threei}  dont hash thy exits
[11:12] {nemo} might be worth shorting fas her cc9
[11:12] {Les} double partial entry sloppy
[11:13] {stevw} off to the bank, be back in awhile - TD Canada Trust mistakenly deposited several cheques of mine in my ex-wife's account!
[11:13] {Les} gonna call it a day vad. Pyjama night tonight and I don't wanna give profits back
01[11:13] {&Threei}  yikes
[11:13] {stevw} i probably won't be a TD Canada Trust client an hour or so from now
01[11:13] {&Threei}  take care les
[11:14] {Les} done yer good deed for the day stevw ex will be happy
[11:14] {stevw} oh, and she so deserves it - not
[11:14] {Les} cheers all
01[11:15] {&Threei}  so, I am trying to understand... is it pyjama night in the whole Switzerland, or Les household only?
[11:19] {dino} gl stevw
[11:19] {jdetente} I think it's a code word Vad
[11:19] {jdetente} "pyjama party"
01[11:19] {&Threei}  I don't want to know for what
[11:19] {dino} "swingers"
[11:20] {Will49} Vad, maybe les means he only wears pjs one night per year
[11:20] {jdetente} they say Les has lost his keys many a time
[11:20] {dino} lol
01[11:21] {&Threei}  jd... you owe me a new keyboard
[11:21] {jdetente} coffee spilt?
01[11:21] {&Threei}  this one is hopelessly ruined by coffee
01[11:21] {&Threei}  balance JPM on a trail
[11:22] {jdetente} been scalping the full amount a lot today...
[11:22] {jdetente} sort of a profit preservation
01[11:22] {&Threei}  can't blame you, jerky market
01[11:23] {&Threei}  so, in plus column: profitable day, fun at Les expense... in minus - one ruined keyboard. Balance: still positive
[11:24] {nemo} I could have a losing day and fun at Les expense would still balance it out
01[11:24] {&Threei}  well, you are a special case
[11:24] {nemo} excuuuuuusssseeee me!!!!
01[11:25] {&Threei}  sight of Les starts this sparkle in your eyes...
[11:25] {jdetente} that's not a sparkle
[11:25] {jdetente} it's his scope
01[11:25] {&Threei}  ignites I should say
01[11:25] {&Threei}  lol
[11:28] {backman} short C .21....
[11:33] {dino} dhi to .45. don't like mkt drop
[11:35] {ese} ese is away......story of my life this week.
[11:35] {backman} out BE
[11:35] {ese} sheesh
[11:36] {Will49} speaking in third person=not good
[11:36] {Will49} split personality
01[11:37] {&Threei}  Switzerland is out, Germany is in
[11:37] {RonS} ese thinking...fine will use 4th and 5th...
01[11:37] {&Threei}  hi KS
01[11:37] {&Threei}  lol ron
01[11:37] {&Threei}  what is it with keyboard supply today
[11:38] {Will49} yeah ron:)
[11:38] {~KSystems} Hey :)
01[11:39] {&Threei}  KS, whatever you do, do not, I repeat do NOT visit Switzerland today
[11:39] {~KSystems} what happened?
01[11:39] {&Threei}  they are having countrywide pyjama party, whatever that means... and Les is coordinating it
01[11:41] {&Threei}  btw... imagine how many keyboards Les will destroy reading the log tonight
[11:43] {~KSystems} holy crap
[11:44] {nemo} besides, they butcher Deutsch down there
[11:44] {_epach} I need to go with my daughter. Have a nice session. See you
[11:44] {jdetente} hasta manana
[11:44] {_epach} thanks a lot
[11:44] {Will49} peace epach
01[11:44] {&Threei}  take care epach
01[11:45] {&Threei}  Spain is out too... KS, you are last European left standing
[11:46] {Will49} most Europeans stand left no?
01[11:46] {&Threei}  and no, I am not describing EU collapse
01[11:46] {&Threei}  yet
01[11:46] {&Threei}  I guess will...
[11:47] {Will49} is that like dressing left? :)
[11:47] {jdetente} left or les?
[11:48] {Will49} lol
01[11:53] {&Threei} Long Setup:  IWM  .65 break
01[11:53] {&Threei}  If holds  .60
01[11:56] {&Threei}  meh
[11:56] {dino} out dhi .45, +.20
[11:57] {jdetente} ruh we have another freefall today?
[11:57] {backman} C....there's the break of .19 i was looking for....sigh
[11:57] {nemo} KEEP THE BUNNIES!!!
[11:57] {Will49} f*^%$
[11:57] {dptl} nice
[11:57] {backman} take my wife, plz
[11:58] {dptl} lol
01[11:58] {&Threei}  no news for this drop
[11:58] {nemo} frickin Henny Youngman
[11:59] {backman} and u prob don't like Woody Allen and his familial bride, either
[11:59] {jdetente} VIX hasn't been this high in quite a while
[11:59] {backman} GDX took off on C break
[11:59] {nemo} no, I'm all for cannubial relations with individuals in close genetic proximity
[12:00] {nemo} and she was adopted anyway
[12:00] {nemo} all bets off
[12:00] {nemo} this country is one of the only ones where you can't marry your first cousin
[12:01] {backman} wish my wife had been family.....would saved lots of legal expense :=)
[12:05] {dptl} with these talks we all soon join Les's pyjama thing
[12:05] {nemo} marriage is lose all your leverage
[12:05] {nemo} oh...Les go to Aikido again?
[12:05] {dptl} who knows..its a mystery pyjamas thing
[12:06] {RonS} gay sister takes Dad to WNBA game during Bush cloning debate...he comes back and says ...what's the controversy about cloning? must already exist...everyone at game was the same...5'4" tall 21/2 feet wide and had a mullet
[12:06] {jdetente} LOL
01[12:06] {&Threei}  lol
01[12:06] {&Threei} Long Setup:  TZA  .20 break
01[12:06] {&Threei}  If holds  .10
[12:13] {RonS} another time sister stays at parent's house w/ gay friends to attend a women's regional b-ball tourney while parents' at beach condo...after dad says " I guess they had a good time, I couldn't find a battery in the house after they left."
[12:14] {dptl} lol
01[12:14] {&Threei}  lol
[12:14] {jdetente} yikes
[12:14] {jdetente} hahaha
[12:15] {Will49} lol
01[12:15] {&Threei}  300-strong First Nation band takes Federal Govt to Court Arguing Govt Should Have Consulted Them Before Signing Trade Agreement with China
01[12:16] {&Threei}  widely supported by environmental groups, unions and FN tribes all over Canada
01[12:16] {&Threei}  left is losing it
01[12:16] {&Threei}  stop to .14 TZA
[12:17] {RonS} who do they think they are?...the boys from Brussels?
[12:20] {dino} p0retty good drop
01[12:20] {&Threei}  1:1
[12:21] {dptl} ye..i like it too Dino...specialy when i am short :)
01[12:21] {&Threei}  1:2
[12:21] {Will49} tks Vad
01[12:21] {&Threei}  yw sir
[12:21] {dino} breaking the 50 dma s/p
[12:24] {dino} ycs drop
01[12:24] {&Threei}  1:3, out in full
01[12:24] {&Threei}  Les will regret that pyjama choice
[12:25] {robbers} Nice trade, Vad.
01[12:26] {&Threei}  1:4... without me
[12:26] {jdetente} wow
[12:26] {dptl} waterfall
[12:26] {RonS} dollar kind of crashing vis eur gbp jpy
01[12:26] {&Threei}  cascade
01[12:26] {&Threei}  love those
[12:27] {+cc_9} big ol crash
[12:27] {Will49} BOHICA
[12:29] {dino} ycs sm l .94
[12:31] {jdetente} well it looks we've finally hit a correction...the question is how deep will it be
01[12:31] {&Threei}
[12:32] {dptl} what software is it Vad...its not laser is it?
[12:33] {dino} stop ycs .64-.30
01[12:33] {&Threei}  fusion
[12:33] {dptl} you using it for trades or just charts?
01[12:34] {&Threei}  charts
[12:34] {dptl} ok
[12:35] {dino} rinsed
[12:37] {dino} re-loaded .90
[12:38] {dino} out .98, +.08
[12:39] {dino} whats symbol for yen?
01[12:41] {&Threei}  FXY
[12:41] {dino} ty
[12:42] {RonS} dino, use here for fx real time charts:
[12:42] {RonS} oops sorry...
[12:46] {backman} gotsa go....success this afternoon
01[12:46] {&Threei}  take care bman... do stay away from Switzerland today
[12:55] {dino} thx ron
[12:56] {+cc_9} All done for the day : my trades (click
[12:56] {+cc_9} )
[12:56] {+cc_9} }}}
[12:56] {+cc_9} hopefully tomorrow is just as nasty as today
[12:56] {dino} lol
[12:56] {dino} makes no difference to me
[12:57] {+cc_9} just need swings, direction is irrelevent
[12:57] {+cc_9} (here comes the dick jokes)
[12:57] {nemo} Why?  Is Les back?
[12:57] {dino} lol
[12:57] {+cc_9} shhh, he might hear you
[12:58] {nemo} I'm trembling
[12:58] {nemo} He's only dangerous if he's logged into my trading account
[12:59] {+cc_9} lol
[12:59] {RonS} alk 65 day low...
[13:03] {dino} watching it
[13:08] {dino} missed it
[13:11] {dino} dhi sm l .98
[13:13] {dino} alk sm l .85
[13:17] {stevw} what the heck's with TOL?
01[13:18] {&Threei}  decent earnings yesterday
[13:18] {dino} last week
[13:18] {dino} tol just beaten down for last 5 days or so
01[13:19] {&Threei}  HOV decent earnings yesterday
[13:19] {stevw} sell the rumor, buy the news?!?
01[13:19] {&Threei}  TOL is sympathy
[13:20] {stevw} maybe the implied part of my comment/question is being answered now, i.e. when it will top
01[13:24] {&Threei} Short Setup: C  50 break
01[13:24] {&Threei}  If holds  .10
[13:32] {+cc_9} anyone feels like calling the SPY close today ?
[13:33] {stevw} i'll make a call on "when"
[13:34] {nemo} 162ish
[13:36] {jdetente} pffft
01[13:36] {&Threei}  meh
01[13:37] {&Threei}  very much yesterday's clone
01[13:38] {&Threei}  in a sense that managing your trades right gets you in profitable territory even though win/lose ratio is rather pedestrian
[13:39] {jdetente} frustrating trading though...but profit is all that matters at the end of the day
01[13:40] {&Threei}  dunno... doesn't frustrate me
01[13:40] {&Threei}  you may be assigning some personal significance to the very fact of winning a given trade or losing it
[13:41] {jdetente} yeah that's always the challenge for me...getting better day by day at that aspect
[13:41] {jdetente} I can admit that.
01[13:41] {&Threei}  as dino loves to quote... forget about stop as soon as you've taken it. It's those trades where you haven't kept your stop and got hit hard that should bother you
01[13:41] {&Threei}  Just think of it this way:
01[13:43] {&Threei}  it's never personal, market has no idea about you or the fact that you entered a trade. Winning or losing a trade doesn't reflect on you as a person, as a trader, and doesn't indicate your deficiency or effectiveness
01[13:43] {&Threei}  One thing that does reflect though is: whether you followed the rules with discipline
01[13:44] {&Threei}  do that, results will follow
01[13:44] {&Threei}  the rest is that thing that nemo despises so much
01[13:44] {&Threei}  feeeeelings
01[13:45] {&Threei}  which takes us back to that video about nail in the head
[13:45] {dino} gut says green close
[13:45] {jdetente} very good advice, Vad.
01[13:46] {&Threei}  it'll come
01[13:46] {&Threei}  at some point something clicks in your head,
01[13:46] {&Threei}  and this game becomes just a game of odds for you
[13:47] {_richa} lol I'm waiting for that click
01[13:47] {&Threei}  follow right system with discipline, odds are on your side
[13:47] {dino} the game, the game...nothing quite the same...all that really matters is the game
01[13:47] {&Threei}  when it happens (click I mean), you no longer react emotionally on any outcome of any given trade
01[13:48] {&Threei}  how long do you trade richa?
[13:48] {_richa} Full time since Feb trading 20 years
[13:48] {_richa} Full time day trader
01[13:48] {&Threei}  usually takes anywhere from 1 to 2 years of doing it seriously to achieve this mindset
[13:48] {dino} welcome richa
[13:48] {_richa} I should say investing 20 years
[13:49] {_richa} my issue is just what you described
[13:49] {dino} alk to .20
01[13:49] {&Threei}  we are good in whipping traders in this state of mind... ask those who are here long term :)
[13:49] {_richa} fantastic
[13:49] {dino} long term, as in an hour?
01[13:50] {&Threei}  not even that long... Will is what, just about 1 year?
01[13:50] {&Threei}  lol, I mean in the room
[13:50] {dino} lol
[13:50] {Will49} one year in Sept
01[13:50] {&Threei}  right, 3/4
[13:50] {dino} i must be 6 or more years
[13:50] {_richa} It looks like the Best Value Offer is the way to go
01[13:51] {&Threei}  you have ice in your veins for years now, dino
01[13:51] {&Threei}  will is almost there
[13:51] {Will49} almost is operative word.
01[13:51] {&Threei}  I would look at Practicality combo, richa
[13:51] {Will49} some days I wonder though :)
[13:51] {dino} an vad, you are a machine
01[13:51] {&Threei}  111 Trades is one of the best shortcuts one can think of
[13:52] {_richa} Ok I will take a look
01[13:52] {&Threei}  will, look at it this way... put today's you next to sept you
[13:52] {dino} mwe spike
01[13:52] {&Threei}  compare
01[13:53] {&Threei}  what say you? :)
[13:53] {Will49} for sure Vad
[13:53] {Will49} I'm very happy with progress but just want it to happen quicker
01[13:53] {&Threei}  don't we all
[13:54] {dino} alk to .35
01[13:54] {&Threei}  but it happens as it happens... there is certain time one just has to spend actually doing it and internalizing the lessons
01[13:54] {&Threei}  you can read all you want about racing cars or piloting planes, and you should if you want to learn to do it
01[13:54] {&Threei}  but practice starts cementing it
01[13:55] {&Threei}  and creating this thing... whaddoyacallit
[13:55] {dino} out .33, +.48
01[13:55] {&Threei}  intuition
[13:55] {dino} alk that was
01[13:56] {&Threei}  when you look at dino's trades, cipher trades, anyone who got it down cold, you can't help but notice one this: they seem effortless
01[13:56] {&Threei}  natural, like breathing
[13:56] {Will49} what about nemo?
01[13:56] {&Threei}  nemo is special case
[13:57] {Will49} as you said
01[13:57] {&Threei}  {G}
[13:57] {Will49} doesn't trade just insults les
01[13:59] {&Threei}  why, he trades when Les is not here
01[14:02] {&Threei} Short Setup: JPM  .75 break
01[14:02] {&Threei}  If holds  .82
01[14:06] {&Threei}  meh
[14:06] {_richa} What does meh mean you used it several times
01[14:07] {&Threei}  expression of mild disappointment in a small stop
[14:07] {_richa} ok I see that with JPM
[14:07] {Will49} hurray for tight stop
01[14:07] {&Threei}  gotta add it to a room slang dictionary :)
[14:07] {_richa} I like your small stops
01[14:08] {&Threei}  very rarely wider than 10 cents
[14:08] {_richa} I knew it wasn't good
[14:08] {_richa} that is great, been in other rooms where the stops can amount to $1000
01[14:08] {&Threei}  yikes
[14:08] {_richa} yes
01[14:08] {&Threei}  how many losses it takes to deplete one's trading account with this size of hits
[14:09] {_richa} First day here and simply following the trades and reading from the website
01[14:09] {&Threei}  you missed morning though
[14:09] {_richa} Was in one room that lost $5000 in 1 day
01[14:09] {&Threei}  when we had a few more nice winners
[14:09] {_richa} Will be here tomorrow
01[14:09] {&Threei}  oh god...
[14:09] {_richa} yes unreal
[14:10] {_richa} got out real quick
01[14:10] {&Threei}  this reminds me my first year of trading
01[14:10] {&Threei}  with no concept of risk control
01[14:11] {&Threei}  1996-97
01[14:11] {&Threei}  75% of trading account destroyed
01[14:12] {&Threei}  these days, nothing can make today a losing day, thanks to this methodology:
01[14:12] {&Threei}
[14:16] {_richa} Wow could have been written about me, very good plan of action
01[14:16] {&Threei}  you'll have this feeling reading much of our materials...
[14:16] {_richa} Good hope to have found a home
01[14:16] {&Threei}  because none of them is theory, it's all derived from personal experience
01[14:17] {&Threei}  school of hard knocks so to speak
01[14:17] {&Threei}  and let's address one more since it's crucial and very widespread problem
01[14:18] {&Threei}
01[14:18] {&Threei}  whole collection is well worth the read though,
01[14:22] {&Threei} Long Setup:  GDX  .45 break
01[14:22] {&Threei}  If holds  .35
[14:22] {_richa} ok thanks I will read them
01[14:22] {&Threei}  :)
[14:23] {dino} dhi to .08, stingy time
[14:28] {dino} to .18
[14:30] {dino} out dhi .23, +.25
[14:31] {RonS} ...get the bat...
[14:31] {dino} ?
01[14:31] {&Threei}  bat? or boots?
[14:31] {RonS} poosh gdx...
[14:32] {RonS} whatever works...
06[14:32] * &Threei kicks GDX in the rear
[14:33] {dino} ahh
06[14:34] * &Threei pokes GDX in the ribcage with sharp stick
[14:35] {Will49} that helped
01[14:35] {&Threei}  ok, staying with sharp objects as motivating devices
06[14:38] * &Threei recharges the stick and pokes GDX in the ribcage again
01[14:38] {&Threei}  hmmm
[14:40] {jdetente} GDX is wearing a suit of armor it seems
01[14:45] {&Threei}  GR) Germany is said to have rejected another debt reduction for Greece - Handelsblatt
01[14:45] {&Threei}  KS is so cruel
01[14:50] {&Threei}  sigh
[14:50] {Les} might be useful to sign in for a setup
[14:50] {Les} ....or maybe not
01[14:51] {&Threei}  you missed good one earlier
[14:52] {Les} cool
[14:52] {nemo} if we don't pull back at all, means job number is likely good
01[14:53] {&Threei}  or at least market bets on it
01[14:55] {&Threei}  as last hour starts, hopefully some activity resumes
[14:57] {jdetente} who called SPY 162 at the close?
01[14:57] {&Threei} Long Setup:  IWM  .85 break
01[15:00] {&Threei}  If holds  .77
01[15:00] {&Threei}  this boat just entered the harbor:
[15:03] {stevw} ah the Roaring 20's, it's a great time to live, isn't it?!?
[15:03] {jdetente} yacht pals? lol
[15:04] {stevw} funnily enough, i have a good friend with a very nice 70' sailboat, but it's a little dinghy relative to some of the stuff sailing the world these days
01[15:05] {&Threei}  trail to .79
[15:05] {Les} what the heck u here then for vad?
[15:05] {Les} get out there and photo damn thing
01[15:06] {&Threei}  nah, it maneovers in the harbor with sails down
01[15:06] {&Threei}  not as spectacular
[15:07] {Les} FAZ .45 break?
[15:08] {Les} trendline resistance is here
01[15:08] {&Threei}  if market reverses, yes... but that's what I can't tell
[15:08] {Les} dunno if wants to break
[15:09] {jdetente} 50/50 it looks like
01[15:09] {&Threei}  SPY did form something top-like
[15:09] {~KSystems} who rang?
01[15:09] {&Threei}  so maybe 51/49
[15:09] {Les} IWM has broken its trendline support
[15:09] {~KSystems} oh Greece
01[15:09] {&Threei}  lol
[15:10] {~KSystems} it is still my favourite holiday country
[15:10] {~KSystems} last year I was there in summer with my ex-gf watching the football match Germany - Greece there in a pub during the European Championship
[15:10] {~KSystems} it was a lot of fun though everyone at home warned me
[15:10] {~KSystems} bullshit
[15:11] {Les} nice TZA catch c it on FB
01[15:14] {&Threei}  FAZ 51% works
[15:15] {jdetente} yup
[15:15] {Les} I like the dive to .25. no hesitation to buy there. But .20 higher holds my hand
[15:24] {jdetente} Dow is up, VXX is dropping. All is well with the world. Nothing to see here.
[15:24] {Les} outta here
[15:24] {Les} yeh resolution with numbers tomorrow
[15:24] {Les} can wait. cheers
01[15:26] {&Threei}  whippy and patternless
[15:27] {jdetente} impossible to read almost
[15:27] {jdetente} which, going back to earlier, makes discipline essential
01[15:28] {&Threei}  eqzaktly
[15:29] {jdetente} this one goes in your book of Vadisms for sure
01[15:29] {&Threei}  while patterns are there, they don't work 100% as market is uncertain environment; they work in odds. Anything can happen any time, thus discipline is what separates a winner from the rest
01[15:30] {&Threei}  IWM, you SoMG
[15:31] {nemo} well, I thought 162ish, now the question is if it will be 163ish
[15:36] {jdetente} definitely possible
[15:53] {dino} calling it a day, good one, thx all
01[15:53] {&Threei}  thank you all
01[15:53] {&Threei}  have a good evening, see you tomorrow
[15:54] {jdetente} til tomorrow