Wednesday, September 25, 2013

Sept 25 2013

Beautiful day with profitable trades throughout the day, nicely reaching their juicy targets while stops were well controlled with no harm to the bottom line at all. GDX, GLD, CAT, JPM, this, that... all the usual suspects, with room members catching some of news-related moves like WMT, SSO, SWFT. Do also read a discussion of treading education for newer traders at the last hour while we babysat last trades.

Session Time: Wed Sep 25 00:00:00 2013
[08:51] {fish_49} gm all
[08:51] {nemo} hey minnow-brain
[08:52] {fish_49} I love you too Nemo
[08:52] {fish_49} Futures showing some promises this am
[08:52] {nemo} kinda' the pot calling the kettle black depending
[08:52] {nemo} up down, who cares
[08:52] {fish_49} I do
[08:53] {nemo} just bet in the right direction
[08:53] {fish_49} my style of trading futures is get direction go in the direction of the trend on a pull back into a demand zone
01[08:59] {&Threei}  good morning
[08:59] {RonS} hi 3i, everyone
01[09:00] {&Threei}  ron :)
[09:10] {dino} gm
01[09:11] {&Threei}  dino :)
[09:18] {jdetente} morning guys
01[09:18] {&Threei}  jd :)
[09:20] {Will49} gm
01[09:20] {&Threei}  will :)
[09:24] {Alexs} gm
01[09:25] {&Threei}  alex :)
[09:28] {jdetente} alright more obesity
01[09:28] {&Threei}  really
[09:28] {robbers} Babies on a diet.
01[09:29] {&Threei}  eating hamburgers and having candies for desert
[09:29] {jdetente} we're going to drink their milkshakes
01[09:33] {&Threei} Long Setup:  GLD  .70 break
01[09:33] {&Threei}  If holds  .60
01[09:35] {&Threei}  1:1
01[09:37] {&Threei} Short Setup: C  .85 break
01[09:37] {&Threei}  If holds  .95
[09:37] {+cc_9} late start, gm guys
01[09:37] {&Threei}  morning cc9
01[09:38] {&Threei}  Poland & Germany should unite, says Lech Walesa
01[09:39] {&Threei}  they did once already
[09:39] {Alexs} lol
[09:39] {jdetente} yikes
[09:39] {jdetente} haha
[09:39] {nemo} yeah, something about a radio outpost
[09:39] {+cc_9} SSO gap near 85.40
[09:41] {+cc_9} GMCR same pattern as yesterday : open/drop, bounce
01[09:41] {&Threei}  no go
[09:41] {jdetente} charity candy
[09:45] {cipher} SDS s.01
[09:45] {cipher} I mean long
01[09:45] {&Threei} Short Setup: SLW  .50 break
01[09:46] {&Threei}  If holds  .60
[09:49] {nemo} jpm looks short
[09:49] {cipher} regn s.83
[09:52] {dino} bax sm l .10
01[09:53] {&Threei}  1:1
[09:54] {cipher} cov REGN .72 +1.11
01[09:54] {&Threei}  wtg
[09:54] {fish_49} gj
[09:54] {jdetente} nice one cipher
01[09:54] {&Threei}  1:2 close enough
01[09:54] {&Threei}  1/4 more out
01[09:54] {&Threei}  stop .46
01[09:56] {&Threei}  babies retreated a bit, candy wrappers clutched
[09:56] {cipher} cldx l.26
[09:56] {nemo} 67.50 support on bax dino
01[09:57] {&Threei} Long Setup:  GDX  .20 break
01[09:57] {&Threei}  If holds  .15
[09:59] {dino} bax stop .78, -.33
01[09:59] {&Threei}  *(US) AUG NEW HOME SALES: 421K V 420KE
01[10:00] {&Threei}  1:1
[10:01] {dino} bax sm l .80
[10:01] {dino} cipher, regn serious hooker
[10:01] {dino} about .90
[10:01] {dino} gj
[10:05] {+cc_9} GMCR tanking
[10:09] {Will49} out GDX tks Vad
01[10:09] {&Threei}  yw
01[10:11] {&Threei} Short Setup: JPM  .90 break
01[10:11] {&Threei}  If holds  51
[10:11] {+cc_9} test
01[10:11] {&Threei}  passed
01[10:13] {&Threei}  change to 51 break
01[10:13] {&Threei}  If holds  .05
[10:15] {cipher} gmcr bids
[10:18] {cipher} infi l .55
01[10:18] {&Threei}  1:1
01[10:18] {&Threei}  GDX 1:2
[10:19] {dino} out bax .10, +.30
01[10:19] {&Threei}  babies drag their toys back home
[10:19] {jdetente} rolling along on this candy taking train
[10:19] {+cc_9} GMCR crash
[10:19] {Alexs} it touched 1:2 alraedy at 10:05
[10:19] {jdetente} yeah it did
01[10:19] {&Threei}  I am deeply sympathetic to babies but obesity must be eradicated
[10:22] {Alexs} spoken as O wife
[10:24] {+cc_9} Taking starter entry GMCR 76.15
[10:24] {+cc_9} looking for 77.50+ tgt
01[10:26] {&Threei}  (US) Senator Boxer (D-CA) introduces legislation to end the US gasoline tax and replace it with a refinery tax
[10:27] {Will49} typical politician....hide the taxes
[10:28] {nemo} guess she figures the refinery will pay the tax instead of the customer
[10:28] {nemo} duh
[10:29] {RonS} that's how dumb she is...
[10:29] {Will49} dumbber
[10:29] {Will49} dumber
[10:29] {nemo} Makes me sick to my stomach when she talks...arrogant
01[10:29] {&Threei}  *US) DOE CRUDE: +2.6M V -1ME; GASOLINE: +215K V 0E; DISTILLATE: -235K V -0.5ME
[10:31] {jdetente} They need to have a steel cage deathmatch between Boxer and Pelosi
[10:31] {Alexs} in NYC gasoline comes from NJ, NJ has alower taxes, so make sense for me
[10:32] {Will49} it all gets passed on to us
[10:32] {Will49} no matter where it's levied
[10:33] {RonS} ergo "take my Chevy to the levy"
[10:33] {+cc_9} GMCR all out 77.00 +$0.85
[10:33] {fish_49} markets back into positive territory
[10:33] {RonS} gj
[10:34] {+cc_9} thx
[10:37] {Alexs} jpm looks short 51
[10:45] {dino} bax sm l .55
01[10:49] {&Threei} Long Setup:  FCX  .77 break
01[10:49] {&Threei}  If holds  .70
01[10:54] {&Threei}  1:1 close enough
01[10:55] {&Threei}  1:1
01[10:56] {&Threei}  so, let's decide... will we make babies do jumping jacks?
[10:57] {nemo} put 'em in a stew
01[10:57] {&Threei}  ogre
[10:57] {nemo} I like veal, what can I say
[11:00] {dino} ccl hl l .80 stop .69
01[11:08] {&Threei}  1:2
[11:08] {fish_49} out in full thanks Vad
01[11:09] {&Threei}  :)
[11:10] {Alexs} how it's going fish?
[11:10] {fish_49} Well Alex  hope your well and in a sharing mood
[11:11] {Alexs} lol
[11:15] {cipher} regn l  294.28
[11:15] {Will49} 1:3 out tks Vad
[11:15] {cipher} LNCO l.29
01[11:16] {&Threei}  yw
[11:17] {cipher} out REGN 295.34 +1.06
[11:17] {dino} ccl to b/e
[11:17] {dino} gj cipher
[11:18] {cipher} out LNCO .49 +.20
[11:18] {cipher} ty
[11:18] {RonS} lol...that's the freakin spread...were you on both sides...lnco
[11:19] {cipher} that's the trick Ron :)
[11:19] {cipher} buy the bid sell the offer
[11:19] {cipher} timing is key
[11:23] {Will49} timing and balls cipher
[11:25] {cipher} SSO l.35
[11:36] {dino} out ccl .04, +.24
[11:37] {RonS} gj
[11:38] {dino} ty
[11:38] {nemo} finnies just hit the 50 day, IWM headed for all time highs
[11:38] {cipher} out SSO .48 +.13
[11:38] {nemo} gdx might be setting up short here
[11:39] {cipher} SDS l .80
[11:40] {cipher} SPY should pull back
[11:41] {cipher} REGN s .67
01[11:41] {&Threei}  Markets on Hold as Congress Dithers
01[11:41] {&Threei}  - Volumes remain thin and US markets pretty much flat this morning as investors wait out the continuing fiscal drama in Washington, DC.
[11:41] {nemo} IWM almost at all time highs
[11:42] {fish_49} markets on hold?
[11:42] {fish_49} good time to beat up Nemo?
[11:42] {Will49} lots of movement though
01[11:42] {&Threei}  what time isn't
[11:42] {fish_49} good point Vad
01[11:42] {&Threei}  - As Senator Cruz continues his quixotic "filibuster," the Senate is preparing to complete its version of the CR funding bill by Sunday, Sept 29th. The Senate version will fund the federal government through November 15th (versus the House bill's December 15th target) and obviously strips out Obamacare defunding.
[11:43] {fish_49} what a nut
01[11:43] {&Threei}  This morning Treasury Sec Lew said the extraordinary measures designed to keep government finances afloat would be exhausted by October 17th, and condemned plans to "prioritize" payments as just "default by another name." The House may see an initial vote to increase the debt ceiling as soon as Friday.
[11:44] {Will49} This Cruz is an idiot
[11:44] {Will49} Sad to say he was born in Alberta
[11:44] {cipher} no he's not
[11:44] {Will49} ultimate grandstander
[11:45] {cipher} I like him
[11:45] {Will49} to each his own
[11:45] {cipher} Cruz for president
[11:45] {Will49} I like nemo too, but what does that say about me?
[11:45] {Will49} :)
[11:45] {fish_49} lol
[11:45] {fish_49} lol
[11:45] {fish_49} lol
[11:45] {nemo} I'm the good taste exception that proves the rule about your choice of company
[11:45] {Will49} lol
[11:46] {nemo} steppin' in the ring again Willy-boy?
[11:46] {Will49} oh yeah
[11:46] {fish_49} he is trying to copy what rand paul did a few months ago
[11:46] {Will49} I'm all healed up and ready to rumble
[11:46] {nemo} Been at the little purple pill again?
[11:47] {Will49} pill?
01[11:47] {&Threei} Short Setup: FCX  .05 break
01[11:47] {&Threei}  If holds  .12
01[11:48] {&Threei}  Study by UK Scientists Shows Chocolate Help Improve Mood
01[11:48] {&Threei}  they haven't heard of vodka or what
[11:48] {RonS} lol
[11:50] {+cc_9} I want my GMCR back
[11:50] {+cc_9} :(
[11:53] {nemo} here come IWM all time highs...maybe
[11:54] {nemo} the proveribial pube away
[11:54] {nemo} proverbial
[11:56] {Will49} sara palin:)
[11:56] {fish_49} don't kick girls  Vad  we need them
[11:56] {fish_49} lol
[11:57] {Will49} friend of yours cipher?
[11:57] {cipher} :)
[11:57] {nemo} hope she doesn't have a gag reflex
[11:57] {RonS} oh no
[11:57] {Will49} Vad will fix her up
[11:57] {nemo} what?
[11:58] {Will49} help her get connected
[11:58] {nemo} btw...this market comes in, joy should too
[11:58] {Will49} as in joy to the world?
[11:59] {RonS} strange time of day for the bax puke...
[11:59] {nemo} why don't you  make like one is the loneliest number
[12:00] {nemo} the boatman is back
[12:01] {Chaeron} No matter how long I'm away, no matter what time of day I come sneaking in, I look at previous comments and always find a reference to vodka... even before noon....
[12:01] {nemo} two coins Chaeron?
01[12:01] {&Threei}  rofl
01[12:01] {&Threei}  here comes another gem Chaeron:
[12:01] {cipher} here comes the SPY pullback
01[12:01] {&Threei}  vodka doesn't help find answers. It helps forget the question
[12:01] {Will49} and not a moment too soon
[12:02] {Will49} i need to get a shower
01[12:02] {&Threei}  what about FCX, will?
[12:02] {Will49} yeah..i'll wait
[12:02] {RonS} tell us when you are gone so we can get a 1:3'r...
[12:02] {Will49} maybe pullback will drag FCX too
[12:02] {Will49} haha Ron
[12:03] {RonS} ...then we can start calling you Murphy...
[12:03] {dino} lmos
[12:03] {Will49} you smart-ass young guys with good memories make me sick
[12:03] {RonS} is that l mos or lmos}
[12:03] {Will49} here i am strggling to trade with my dimentia
[12:04] {nemo} and your spelling
[12:04] {Will49} that tto
[12:04] {Will49} too
[12:04] {Will49} :)
[12:04] {nemo} stutter also, huh?
[12:04] {fish_49} how old is Will?
[12:04] {Will49} 74
[12:04] {fish_49} ohhhh
[12:04] {nemo} stx looks short to the whole number
[12:05] {dino} lmos sm s ave .72
[12:05] {Will49} i'm trying to set a record as oldest trader in Vad;s room
01[12:05] {&Threei}  I think you have ways to go Will
01[12:05] {&Threei}  we had 78
[12:05] {Will49} 26 years
[12:05] {Will49} how did the old bastard do?
[12:06] {fish_49} Will I'm curious about something
01[12:06] {&Threei}  and I suspect you are trying to add some years don't look the over 70 part
01[12:06] {&Threei}  fake ID or something...
[12:06] {Will49} can i buy you a drink?
01[12:06] {&Threei}  can you do that legally?
[12:06] {fish_49} Will?
[12:07] {Will49} you're NSA right fish?
[12:07] {fish_49} I'm just curious..  Do depends really work?
[12:07] {RonS} lol
[12:07] {Will49} not with some of the trades Vad calls
[12:08] {nemo} I'm having trouble following the conversation here
[12:08] {Will49} early alzhiemers
[12:08] {nemo} don't think so
[12:08] {Will49} you don't seem too sure
[12:09] {nemo} I"m being polite
[12:09] {fish_49} huh?
[12:09] {fish_49} Nemo must have fallen and bumped his head  Polite?
[12:10] {Will49} come on nemo...I deserve the same level of attention as Les
[12:10] {nemo} doubtful
[12:10] {nemo} when I rode motorcycles they made me wear a helmet so I wouldn't damage the street
[12:10] {dino} ron LMOS
[12:10] {Will49} Les asked me to make sure you were given enough opportunity
[12:11] {nemo} what, do I look like a nursing home orderly?
01[12:11] {&Threei}  {Les} guys, do nemo a favor and insult him more often, in order to train him for my arrival
[12:11] {fish_49} lol
[12:11] {Will49} lol
[12:12] {Will49} sheesh...this FCX cutting into my shower time
01[12:13] {&Threei}  {FCX} great, now I have to take care of their cleansing rituals
[12:13] {nemo} don't forget the desitin with Will
[12:14] {Will49} what;s that?
[12:14] {nemo} Give fish some Massengill for mouthwash
[12:15] {nemo} Don Rickles must have been a donor at my spermbank
[12:16] {Will49} now see what you've done?
[12:16] {nemo}
[12:16] {nemo} what am I being blamed for now?
[12:16] {Will49} FCX
[12:17] {Alexs} meh
[12:17] {fish_49} testing the handle of the cup and handle on a 3 min chart
[12:18] {nemo} what is minnow-face?
[12:18] {fish_49} FCX
[12:20] {Will49} FCX is rat-face
[12:20] {cipher} SPY breaking down
[12:20] {cipher} as expected
[12:21] {cipher} my SDS is looking good
[12:21] {fish_49} what news hit?
[12:21] {cipher} sellathon
[12:21] {cipher} big boys at work
[12:22] {nemo} volume not that big in spy
[12:23] {cipher} round 2 selling coming
01[12:23] {&Threei}  IMF Exec: IMF will lower 2013 GDP forecast for Latin America- Reminder: IMF lowered Russia GDP forecasts yesterday
01[12:24] {&Threei}  this is the only thing I see
[12:24] {cipher} gap way below
[12:24] {cipher} here we go
01[12:32] {&Threei} Short Setup: CAT  .15 break
01[12:32] {&Threei}  If holds  .25
01[12:33] {&Threei}  ok CAT... while will's in the shower...
[12:33] {Alexs} lol
[12:33] {Will49} I'm here and I'm in  hahaha
01[12:34] {&Threei}  lol
01[12:34] {&Threei}  chaeron... aren't you glad to be back
[12:34] {jdetente} trading and showering at the same time...impressive
[12:34] {Will49} I try to only make mistakes three times
01[12:34] {&Threei}  really?
[12:35] {Will49} yeah JD...have a waterproof laptop
01[12:35] {&Threei}  it takes me three times just to realize it was a mistake
[12:35] {Will49} lol
01[12:35] {&Threei}  at least that's what one redhead claimed
[12:36] {Will49} yikes
01[12:36] {&Threei}  funny enough, she called herself Big Mistake
[12:37] {Will49} that her pole dancer name?
01[12:40] {&Threei}  1:1
[12:49] {dino} bax sm l .45
[12:58] {+cc_9} keeping an eye on GMCR, tanking again
[12:58] {nemo} quasimodo configurations on indexes
[13:18] {dino} cov/out lmos some vat ,22, some at ,55, ave .44, +.28
[13:29] {cipher} finally SPY
[13:29] {cipher} round 2
[13:29] {cipher} beauty
[13:30] {nemo} wmt news
[13:30] {fish_49} out cat  thanks Vad
[13:31] {+cc_9} getting long SSO on this drop
[13:32] {nemo} wmt cutting domestic orders for inventory
[13:32] {cipher} not yet cc imo
[13:32] {cipher} more downside
[13:32] {+cc_9} any news on this drop, was on a conference call
[13:32] {nemo} inventory pile up at Walmarts
[13:33] {+cc_9} ...really ?
[13:33] {nemo} yes
[13:33] {RonS} Senate votes 100 - ZERO to advance bill to keep gov't open
[13:33] {+cc_9} yea, long SSO on this drop
[13:33] {+cc_9} sounds like fluff to me
[13:33] {nemo} well, Walmart is the pulse of the proletariat
[13:33] {+cc_9} first scale 85.74
[13:33] {RonS} algos running the turns today
[13:34] {+cc_9} Looking to sell 85.90+
[13:36] {+cc_9} WMT already bouncing
[13:36] {fish_49} Walmart shoppers doing well and moved up to Macy's  now
[13:37] {dino} truckers dropping
[13:37] {cipher} cov REGN 293.28 +2.39
[13:37] {+cc_9} nice one cipher
[13:37] {cipher} still holding SDS
[13:38] {cipher} almost there
[13:38] {nemo} retailers selling off visa
[13:38] {nemo} amzn making lows
[13:39] {dino} swft l .40
[13:39] {+cc_9} looking for power bounce off 169 SPY
[13:39] {+cc_9} snap back 169.25
[13:39] {+cc_9} At least this wont be full
[13:39] {+cc_9} dull*
[13:40] {cipher} took scalp on SWFT +.23 thx
[13:41] {dino} out swft .69, +.29
[13:41] {+cc_9} SWFT wow, where was I
[13:41] {dino} yw
01[13:42] {&Threei}  grrr CAT
[13:43] {fish_49} it's almost 10:1  lol
[13:43] {dino} bax to .88
[13:43] {cipher} out SDS .19 +.33
[13:44] {cipher} SPY should bounce soon
[13:44] {+cc_9} SPY testing previous LOD from 10AM
[13:45] {cipher} SSO L .56
[13:45] {+cc_9} avg now 85.668
[13:45] {+cc_9} tgt unchanged, still looking for 85.90
[13:46] {cipher} SSO scalp only
[13:46] {+cc_9} SPY tgt 169.25
[13:46] {+cc_9} we get there.
[13:47] {+cc_9} gives ~ 85.85 on SSO
[13:48] {dino} out bax .88, +.44
[13:48] {+cc_9} SPY teens coming up
[13:49] {cipher} out SSO .67 +.11
[13:50] {fish_49} spy turned away at 12 teen
[13:50] {cipher} turned fast
[13:52] {+cc_9} trying to put intraday bottom here
[13:52] {dino} swft drop again
[13:54] {+cc_9} BOOM SSO
[13:54] {+cc_9} BABYYYYY
[13:54] {dino} spike from somewhere
[13:54] {+cc_9} thanks for SWFT again guys
[13:54] {+cc_9} SPY target 169.25 around the bend
[13:54] {+cc_9} lets get it!
[13:55] {+cc_9} SPY 169.25 printing, SSO 85.80
[13:55] {dino} np
[13:55] {nemo} WMT just came out said the story about them cutting orders is misleading
01[13:56] {&Threei} Short Setup: C  .15 break
01[13:56] {&Threei}  Wal-Mart Stores Inc CNBC: Company indicates that it is constantly managing inventory; earlier reports were 'misleading'; inventories changing all the time
[13:57] {+cc_9} out SSO @ target
[13:57] {+cc_9} SPY 129.25 tgt
[13:57] {+cc_9} :D
01[13:57] {&Threei}  Invalidated  C
[13:57] {cipher} nice one cc
[13:58] {cipher} I didn't have the balls this time
[13:58] {nemo} should go to .40
[13:58] {Will49} cipher :)
[13:58] {fish_49} 129 cc?
[13:58] {+cc_9} 169.25 sorry
[13:59] {+cc_9} 13:47 cc_9 SPY tgt 169.25 13:47 cc_9 we get there. 13:48 cc_9 gives ~ 85.85 on SSO
[13:59] {fish_49} thanks for the clarification  I was just ready to hit the short button
[13:59] {fish_49} lol
[14:01] {+cc_9} SWFT trade (thanks to Dino) }}}
[14:01] {+cc_9} SSO trade (thanks to Walmart plebs) }}}
[14:02] {nemo} te morituri salutamos
[14:02] {dino} gj cipher, glad to help
[14:02] {dino} htwr smackdown
[14:04] {+cc_9} This is why I scale in long on SPY drops, no matter what the news is
[14:04] {+cc_9} 9 times out of 10, we bounce just as hard
[14:08] {cipher} SHOO s.49
[14:10] {+cc_9} GMCR free fall mode
[14:13] {+cc_9} SPY another drop = another scalp
[14:13] {+cc_9} JPM volume spike
[14:14] {+cc_9} JP Morgan $JPM national settlement may reach USD 11bln
[14:16] {nemo} price action getting a tad erratic
[14:16] {nemo} Les must be mind melding with the market
[14:17] {cipher} shoo stopped .39 +.10
[14:17] {+cc_9} 14:13 cc_9 SPY another drop = another scalp
[14:17] {+cc_9} ;)
[14:19] {fish_49} I'm not sure which way to swim
[14:21] {+cc_9} i would like to see SPY tank again if possible.
[14:21] {+cc_9} before we slowly creep back to yesterday's closing PPS and get bored.
[14:23] {nemo} spy getting hung up under vwap, mmmhhh
[14:25] {nemo} we've got EOQ markups coming
[14:25] {+cc_9} market trying to rip
[14:25] {+cc_9} JPM bouncing on that great news
[14:25] {+cc_9} all that brouhaha about WMT and its back to its pps before the "news" came out.
[14:26] {+cc_9} in other words : news don't matter, buy the effing dip
[14:29] {nemo} kinda' leaning towards spy drop, it's having trouble getting back above vwap
[14:29] {nemo} IWM too
[14:30] {nemo} gdx short vad?
01[14:30] {&Threei}  not sure
01[14:30] {&Threei}  26 break long is just as valid
[14:33] {dino} rrms drop
[14:33] {RonS} odfl pressure
[14:35] {RonS} rkt 44 day low
[14:35] {+cc_9} i put a chart together that shows all entry/exits for SSO today :
[14:36] {dino} damn, missed rrms
[14:36] {nemo} going gray, huh CC?
[14:36] {+cc_9} I had to change background color so the arrows are visible, even with that, i had to circle them...
[14:38] {nemo} P and FB should be good for shorting next week
[14:39] {+cc_9} AAPL saw some profit taking right out the gate
01[14:42] {&Threei}  pains me to say but
01[14:43] {&Threei}  nemo was right about GDX
01[14:43] {&Threei}  really painful
[14:45] {+cc_9} JPM new session highs
01[14:55] {&Threei} Short Setup: GLD  .90 break
[14:57] {+cc_9} JPM :
[15:03] {jdetente} Alright fellas. Great day again(thanks Vad). Going to take off early. See you all tomorrow.
[15:03] {Will49} peace jd
01[15:03] {&Threei}  take care jd
01[15:03] {&Threei}  nice to keep those babies lean, eh?
[15:05] {+cc_9} why is this analyst on bloomberg saying there is a 40% change of a gov shutdown
[15:05] {+cc_9} why do they still act like we are children...
[15:05] {nemo} PT Barnum
[15:06] {+cc_9} we are all well aware and up to speed on their scams...they will raise the debt as always and nothing will change
01[15:07] {&Threei}  they lure you into complacency, cc_9... and just when you get used to nothing changing, change comes
[15:07] {nemo} When I try to get out....they pull me back in...
01[15:07] {&Threei}  right
[15:09] {nemo} We had to watch Coppola's daughter in that movie because Winona Ryder wigged out
01[15:14] {&Threei} Short Setup: GLD  .95 break
01[15:14] {&Threei}  If holds  .05
01[15:17] {&Threei}  drew, here?
[15:18] {drewj} yup
[15:18] {drewj} what's up
01[15:18] {&Threei}  just wanted to ask how you are doing
[15:18] {dino} how you doing w/trades drew? you're quiet
[15:19] {drewj} still trying to come to terms with all of this
01[15:19] {&Threei}  no troubles following trade calls?
[15:19] {dino} keep at it, it will click
[15:20] {drewj} i mess up more than i would like
01[15:20] {&Threei}  something isn't clear?
[15:20] {drewj} i am learning each day...
01[15:20] {&Threei}  should be pretty straightforward...
01[15:20] {&Threei}  enter, partial, trail, exit
[15:20] {drewj} that emotional discipline is lacking.
01[15:22] {&Threei}  don't focus on your inner world... focus on action
01[15:22] {&Threei}  trigger is here, take the trade
01[15:22] {&Threei}  stop or target is here, take it
01[15:22] {&Threei}  move on to the next
01[15:22] {&Threei}  don't think
01[15:22] {&Threei}  don't guess
01[15:22] {&Threei}  let them system work
[15:23] {Chaeron} cold, reflex - no emotion. {sorry, new here but like the help if I can}
[15:23] {drewj} go for it...
[15:23] {Chaeron} that's all I got :)
[15:23] {drewj} :)
[15:23] {drewj} short but sweet
[15:24] {nemo} yeah, in the mode of "what's old is new again."
[15:24] {drewj} right
[15:24] {dino} if its emotions, its what you believe that isn't true drew
[15:24] {drewj} you are right dino
[15:25] {drewj} i guess i am fighting myself...after years in another profession
[15:26] {drewj} i'm used to making a lot of my own decisions
[15:26] {Will49} drew..took me months to "tame the tiger" and keep my emotions under control
[15:26] {Chaeron} most large houses that have floor traders will not allow people looking to be traders to have a master's degree... and some prefer not college grad... they don't want them "thinking"
[15:26] {dino} we've all been there. you must become a machine. react, don't think
[15:26] {Will49} becoming a machine is a big challenge for some of us
01[15:27] {&Threei} Short Setup: JCP  .10 break
[15:27] {drewj} that feels like such a leap of faith guys
[15:27] {Chaeron} maybe "analyzing"  better word,.... don't analyze at all.
01[15:27] {&Threei}
[15:27] {Chaeron} lol
[15:28] {drewj} which one are you vad?
[15:28] {Chaeron} drew... let go... trust the force... you're here... trust Threei... (Yoda?)
[15:28] {RonS} no jcp shares here...
01[15:28] {&Threei}  I am overseeing them
[15:28] {drewj} oh no...
[15:28] {drewj} Chaeron i already like you:)
[15:28] {drewj} my wife will love that one.
[15:28] {nemo} lucky him
[15:29] {Chaeron} thanks drew... but be warned.. I am not "Sharon" or female for that matter...
[15:29] {nemo} algo's looking for order flow
[15:29] {Chaeron} nemo... lol
[15:29] {nemo} Yeah, I make a Sith lord look like Santa Clause
[15:30] {dino} size down drew, when set-up is there hit it. stay smaller shares until you get it. perhaps bigger trade size is messing you up. find your edge and comfort zone.
01[15:30] {&Threei}  so, doln't call him Shirley
[15:30] {drewj} i'm really having a hard time with that one dino
[15:30] {nemo} are u jesting?
[15:30] {dino} i'll crack you up, only 1 trade for me today was bigger than 400 shares, and i've hit my target
[15:30] {drewj} i can't get comfortable with share sizes
[15:31] {dino} back in ten minutes
[15:31] {+cc_9} Ron, who's your broker ?
[15:32] {+cc_9} got shares available here
[15:32] {nemo} E. F. Hutton
[15:32] {Chaeron} lol
[15:32] {fish_49} that's old Nemo
[15:32] {nemo} yeah, I used it yesterday
[15:35] {Alexs} stop .18 JCP?
01[15:35] {&Threei}  yup
01[15:35] {&Threei}  GLD 1:1
01[15:36] {&Threei}  seriously drew... devote a few days to just following the calls and SOP instructions, with no thinking whatsoever
01[15:36] {&Threei}  it doesn't mean you will trade like that all the time
01[15:36] {&Threei}  but it'll help take edge off
01[15:37] {&Threei}  and make transition easier
01[15:37] {&Threei}  trading in some ways is unlike any other profession
01[15:37] {&Threei}  we are too conditioned to think through each separate case
01[15:37] {&Threei}  and take it as reflection of our intelligence
[15:38] {drewj} i know.  you are right
01[15:38] {&Threei}  In trading, intelligence is being used and applied at the pre-trading stage, during system design
01[15:38] {&Threei}  and during actual execution is't pure discipline
01[15:38] {&Threei}  it's
[15:38] {drewj} i can't understand that but i believe you
01[15:38] {&Threei}  why can't?
01[15:39] {&Threei}  it's not a completely foreign concept
01[15:39] {&Threei}  soldiers execute general's orders
01[15:39] {&Threei}  they don't design operation
[15:39] {drewj} how can i recognize situations and act without intelligence?
01[15:39] {&Threei}  you are at early stage
01[15:40] {&Threei}  you are using someone else's ability to recognize them
[15:40] {drewj} fair enough
01[15:40] {&Threei}  when you learn crawling you startt walking
01[15:40] {&Threei}  but soldier who nevber learned to execute has no chance to become an officer
[15:40] {dino} gcap hl s .97
01[15:40] {&Threei}  and start designing operations
[15:41] {Chaeron} and more than likely died in action
01[15:41] {&Threei}  leap of faith you say? but trades work in front of your very eyes, day by day
01[15:41] {&Threei}  not that big of a leap, is it
[15:41] {drewj} that's the part where i am fighting myself
01[15:42] {&Threei}  what is it you are fighting, put it in words
[15:42] {drewj} i seem to want to be disobediant:)
01[15:42] {&Threei}  ah
01[15:42] {&Threei}  well
01[15:42] {&Threei}  good luck qwith that :)
01[15:42] {&Threei}  one thing to keep in mind:
[15:42] {fish_49} Drew are you taking trades other than what Vad calls in the room?
01[15:42] {&Threei}  it's not personal, it's not about obeying me or someone else
01[15:42] {&Threei}  it's abpouit following the system
[15:43] {drewj} funny: i'm used to getting paid to be bossed I'm paying to be bossed around!
01[15:43] {&Threei}  tried, tested, proven
01[15:43] {&Threei}  wrong
01[15:43] {&Threei}  you are paying to make money and learn to make money
[15:43] {drewj} ahhhhhhhh
01[15:44] {&Threei}  following all the calls, you would have been paid by the market itself for a month of your expense in a matter of a few days, even with small shares
01[15:44] {&Threei}  process all the calls of this weerk alone, just three days
01[15:44] {&Threei}  see what you'd have made by fiollowing them exactly
[15:45] {drewj} point taken
[15:45] {dino} discipline vtrumps conviction drew
01[15:45] {&Threei}  don't tell me it's less than $300 even with 200-300 shares
01[15:45] {&Threei}  JCP meh
[15:45] {drewj} gld 1:2 yet?
01[15:46] {&Threei}  2 cents more
01[15:48] {&Threei}  stop .91
01[15:48] {&Threei}  time becomes an issue
01[15:49] {&Threei}  weed out this angle of "boss, bossing around" drew... it's inapplicable here
01[15:50] {&Threei}  thwere is a system based on about a hundred years of observations at least,
01[15:50] {&Threei}  and on a human psychology observed and analyzed for many hundred of years
01[15:51] {&Threei}  It's honed tested here in the very room for 13 years
[15:51] {dino} gcap stopped .14-.17
[15:51] {fish_49} Damn Vad your older than I thought
01[15:51] {&Threei}  yeah
01[15:51] {&Threei}  I provide instructions according to system's signals
01[15:52] {&Threei}  I don't command you or order you around or boss you arounmore than, say, gravity does
01[15:52] {&Threei}  if you ignore gravity, physic laws will take care of teaching you a lesson
01[15:52] {&Threei}  same with market
[15:53] {fish_49} Don't Feel bad Drew  Vad used to boss me around  but  My wife yelled at him for trying to take her job
01[15:53] {&Threei}  follow the system as you would consider gravity before jumping from 100th floor
[15:53] {drewj} now i feel better:)
[15:53] {nemo} then she gave fish the strap-on
01[15:53] {&Threei}  lol fish
[15:53] {+cc_9} nice SPY finish
[15:53] {+cc_9} more juice for tomorrow
01[15:53] {&Threei}  5 min, GLD
01[15:53] {&Threei}  drrrrop
[15:53] {nemo} probably visit the 50 day tomorrow
[15:54] {drewj} how close do we get to the EOD with gld?
01[15:54] {&Threei}  2 min
01[15:54] {&Threei}  1:2 baby
01[15:54] {&Threei}  and still have 4 min to go
01[15:54] {&Threei}  see? gravity
[15:54] {drewj} good point
01[15:54] {&Threei}  you are not thinking how to fool it, right?
01[15:55] {&Threei}  same way don't think how to gert around laws of market movement
01[15:55] {&Threei}  just follow them
01[15:55] {&Threei}  you don't know them yet well enough though
[15:55] {drewj} i'm getting there:)
01[15:55] {&Threei}  and that's where I come in
[15:55] {drewj} that's for sure
01[15:55] {&Threei}  hope it helps making that leap :)
[15:56] {drewj} it's only an internal leap but it has seemed very far.
[15:56] {drewj} i do believe you though
01[15:56] {&Threei}  2 min GLD
[15:56] {drewj} out now?
[15:57] {drewj} neverming
[15:57] {drewj} nevermind
06[15:57] * &Threei is looking at GLD imitating great patience but drumming his fingers on the table
[15:57] {fish_49} I'm out in full
[15:57] {fish_49} thanks Vad
[15:57] {Will49} Great day Vad...tks big
01[15:57] {&Threei}  :)
[15:58] {Alexs} time to share fish
[15:58] {fish_49} have a great night guys and you also Nemo
01[15:58] {&Threei}  babies... clubbed back to their sandboc
01[15:58] {&Threei}  with no candy
[15:58] {nemo} trying to get on my bad side I see
[15:58] {fish_49} Check is in the mail Alex
01[15:58] {&Threei}  ok, out GLD +.24
01[15:58] {&Threei}  thank you all
01[15:58] {&Threei}  have a great evening
[15:58] {fish_49} you only have one side Nemo
01[15:58] {&Threei}  see you tomorrow
[15:58] {drewj} good evening all
[15:58] {Will49} dark
[15:58] {Will49} cheers all
[15:58] {Alexs} :) gn
[15:59] {fish_49} There are streets in New Yorked named after you  "One Way"
[15:59] {fish_49} good night all
[15:59] {Alexs} lol
[15:59] {dino} gn all