#FuturesTrades January 22nd Monday 2007 Trade Log
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ER2 EuroFX EC +10.70 +0.0000 $1,070.00 $0.00 Trading Perspective
I had a bearish bias at the Open but was unable to exploit it properly because of a late entry that forced me to reduce my position size. As a result, although profitable on the trade, I traded the late afternoon trading session which is usually my weakness.
Further, I took a loss on a key trade that should not have occurred due to the fact I was told that the 10am est Leading Indicator report had been cancelled when in fact it had been postponed for about 5mins.
The result was that by the time I saw the volatility rise...the trade position had gone a good ways against me (prior to my stop/loss) before I recognize the error and reversed the trade position into the correct price direction.
Simply, I wasn't able to minimize my loss nor able to maximize my profits on the position reversal.
However, I was in control in the p.m. via small size trades in comparison to the position size in the morning trading session. In addition, the market seemed lost (trying to find a direction) and these are the times to take quick profits even though profit targets may not have been reached.
In fact, the few times I held on to a winning position in an effort to reach a profit target...the trade retraced and resulted in either a loss or small profits.
Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of January...click here. To see results for the months of 2007 and prior years...click here.
Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.comNote: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and such is represented by a particular type of price action from one of the key markets. You can view the charts and their clues that's associated with the key price action at our key market archives.
Session Start: Mon Jan 22 09:31:42 2007Session Ident: #futurestrades * Now 09:31 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <wizardofrijnsaterwou> gm everybody 09:32 <PapaJon> gm all 09:34 <szubaark> gm <NihabaAshi> Shorts ER2 @ 786.60 -> large size 09:35 Covered all ER2 Short @ 785.90 --> + 0.7 09:38 <pat255> nce start @office ...:( 09:39 <les> Shorts ER2 @ 785.8 09:41 <eminitrader> Long ES @ 1435.50 09:42 <RussellDaytrade> Long ER2 @ 785.3 «« paper »» <les> Covered all ER2 Short @ 785.1 --> + 0.7 09:43 <NihabaAshi> Long ER2 @ 785.60 -> small size Exited ER2 Long @ 785.10 --> - 0.5 09:44 Reverse and Enter Short ER2 @ 785.10 <venedom> gm <szubaark> Buys NQ @ 1804.25 «« paper »» <eminitrader> Exited 1/3 ES Long @ 1436.50 --> + 1 09:45 <NihabaAshi> Shorts ER2 @ 785.60 -> Add 09:46 Covered 1/2 ER2 Short @ 785.20 --> + 0.4 09:48 <szubaark> Exited all Long NQ at 1806.50 --> + 2.25 «« paper »» <venedom> esignal delayed? <PapaJon> is ok here ven <NihabaAshi> Covered ER2 Short @ 785.70 --> - 0.6 09:49 Reverse and Enter Long ER2 @ 785.70 <venedom> ty <PapaJon> yw 09:50 <NihabaAshi> Long ER2 @ 785.40 -> Add <szubaark> 10 am Leading Indicators.. expect Volatility <NihabaAshi> Exited all ER2 Long @ 785.00 --> - 1.1 09:51 Trading Edge: Trading Strategies -> These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: Emini Index Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI) <werner> leading indicators postponed <venedom> definitive lag on esignal here <szubaark> Buys NQ @ 1805 «« paper »» 09:54 exit stop set NQ @ 1803 «« paper »» <NihabaAshi> Long ER2 @ 785.40 -> large size 09:55 <PapaJon> venedom.. hows ur cpu usage? is it pegged? <NihabaAshi> Long ER2 @ 785.00 -> Add 09:56 <eminitrader> Long ES @ 1435.50 -> Add 09:57 <NihabaAshi> Exited 1/3 ER2 Long @ 785.50 --> + 0.5 09:58 Sorry...that was a 1/4 exit...not 1/3 09:59 <szubaark> Exited all Long NQ at 1802.50 --> - 2.5 «« paper »» 10:02 <NihabaAshi> Exited ER2 Long @ 784.40 --> - 1 Reverse and Enter Short ER2 @ 784.40 <eminitrader> Exited Remainder ES Long @ 1435 --> - 1 <szubaark> Shorts NQ @ 1802.50 «« paper »» <NihabaAshi> Shorts ER2 @ 783.20 -> Add 10:03 <RussellDaytrade> Long ER2 @ 783.3 -> Add «« paper »» <szubaark> Covered all Short NQ at 1800 --> + 2.5 «« paper »» 10:04 <NihabaAshi> Covered 1/3 ER2 Short @ 782.30 --> + 0.9 <RussellDaytrade> Long ER2 @ 782.5 -> Add «« paper »» <pat255> L 82.4 paper 10:05 <NihabaAshi> Covered 1/3 ER2 Short @ 782.00 --> + 2.4 10:06 <pat255> vn guys <NihabaAshi> It got me a little positive as long as it doesn't retrace back up to 783.00 10:07 Didn't have the size I wanted...went a little low on the large size :( 10:08 <les> Shorts ER2 @ 781.8 <NihabaAshi> Need to hold a little longer beyond my next WRB profit target to compensate for the lack of size. Covered ER2 Short @ 780.90 --> + 3.5 10:10 Holding 1 contract <szubaark> Buys NQ @ 1789 «« paper »» looking for a quick bounce scalp <eminitrader> Long ES @ 1432.50 <RussellDaytrade> Long ER2 @ 781.1 -> Add «« paper »» 10:11 <les> Covered all ER2 Short @ 781.3 --> + 0.5 <szubaark> Exited all Long NQ at 1789.25 --> + 0.25 «« paper »» 10:12 <les> Shorts ER2 @ 780.9 <eminitrader> Exited all ES Long @ 1430.50 --> - 2 10:13 <RussellDaytrade> Long ER2 @ 780.5 -> Add «« paper »» <les> Covered all ER2 Short @ 780.5 --> + 0.4 10:17 <szubaark> Niha u "think" this selloff in eminis was caused by the strong rally off lows by Oil? 10:25 Buys NQ @ 21790.25 «« paper »» 10:26 Buys NQ @ 1790.25 «« paper »» <les> Long ER2 @ 781.6 10:27 <szubaark> Exited all Long NQ at 1792.25 --> + 2 «« paper »» 10:28 <les> Exited all ER2 Long @ 782.1 --> + 0.5 10:29 <pat255> nice sle S 82.2 10:31 paper <RussellDaytrade> Exited 1/3 ER2 Long @ 782.3 --> + 1.8 «« paper »» 10:32 sold three lower priced ones, still long 2 at ap 784.2 or so. 10:33 Long ER2 @ 781.7 -> Add «« paper »» Long ER2 @ 781 -> Add «« paper »» 10:36 <szubaark> Great my IB just Froze :(( 10:37 <NihabaAshi> Covered ER2 Short @ 781.60 --> + 2.8 10:40 Reverse and Enter Long ER2 @ 781.60 1 contract only on that position reversal <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) <NihabaAshi> Looking for a test of 782.30 with me still in the trade :) 10:41 <RussellDaytrade> Exited ER2 Long @ 781.9 --> - 2.5 «« paper »» sold the 781.7 <NihabaAshi> ER2 volatility declining now...expecting a volatility spike soon... 10:42 Hopefully in the direction of my trade. <RussellDaytrade> Long ER2 @ 781.4 -> Add «« paper »» 10:43 <szubaark> Niha u "think" this selloff in eminis was caused by the strong rally off lows by Oil? <pat255> later guys back ro work...ty all 10:45 <NihabaAshi> Exited ER2 Long @ 781.30 --> - 0.3 10:48 Reverse and Enter Short ER2 @ 781.30 3 contracts...still small May add... Shorts ER2 @ 780.30 -> Add 10:49 <szubaark> Oil going higher <RussellDaytrade> Long ER2 @ 780.4 -> Add «« paper »» <NihabaAshi> Covered all ER2 Short @ 781.00 --> - 0.4 10:52 Overall, a -0.10 and not a -0.40 10:53 * NihabaAshi is now known as yournewname 10:54 <yournewname> Ooopss... * yournewname is now known as NihabaAshi <venedom> lol <NihabaAshi> Long ER2 @ 781.70 -> small size 10:55 Maybe I can get the target now. <RussellDaytrade> Exited ER2 Long @ 781.9 --> - 1.9 «« paper »» <venedom> lots of internet conection problems today 10:56 <RussellDaytrade> sold the 781.4 still long 4 at ap above market 10:57 * fseitun is now known as ItalianSharp 10:58 <RussellDaytrade> Exited ER2 Long @ 782.5/la --> + 782.5/la - 785.3 «« paper »» 11:01 oops, had an exit loaded, that was an add at 781.3, will re-enter 11:02 Long ER2 @ 781.3 -> Add «« paper »» <NihabaAshi> Long ER2 @ 781.20 -> Add Exited all ER2 Long @ 780.50 --> - 1.9 11:05 Shorts ER2 @ 780.40 -> large size Covered 1/2 ER2 Short @ 779.80 --> + 0.6 11:06 This time I have the right size and just in time... 11:07 Got my profit target for the day. <venedom> nice Ni 11:08 <Brutus> Long ER2 @ 779.4 11:09 Exited ER2 Long @ 779.4 --> 0 11:10 <RussellDaytrade> dow lifting a little 11:11 <NihabaAshi> Covered ER2 Short @ 779.60 --> + 0.8 Holding 3 contracts Covered Remainder ER2 Short @ 780.20 --> + 0.2 11:15 Ooops Nevermind...its right. Looks like my poor entry on my first trade because I wasn't ready to trade and was trying to catch up on my pre-market analysis...it was costly. 11:16 Should have had an entry above the 788.00 price area and my size was too low. 11:17 Instead, got an entry around 786.60 and only walked away with a 785.90 However, I had to reduce my size because of the late entry to compensate for the increased risk exposure via my entry being about 5 ticks away from my first profit target area. 11:18 ER2 volatility declining...expecting a volatility spike soon. 11:19 Long ER2 @ 779.80 -> small size 11:21 <RussellDaytrade> long 5 at ap of 782 .3, thats whats currently open. closed trades thus far have net of 350, (not inclusive of comm), so, real ap is approx 781.6. above that i may actually make some money. most likely will close at first glimpse of daylight, and start over. <NihabaAshi> Exited 1/3 ER2 Long @ 780.10 --> + 0.3 11:22 Exited Remainder ER2 Long @ 780.00 --> + 0.2 11:26 Long ER2 @ 780.00 -> small size 11:27 1 contract only...officially in profit protection mode. I thought Eurex would help a little for the Long position...so far...I'm wrong 11:37 Just low volatility chop. 11:38 :( Exited ER2 Long @ 780.20 --> + 0.2 11:39 Time for an early lunch. Be back later. * NihabaAshi is now known as NihabaAshi_away <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 11:52 * codehead_afk is now known as codehead 12:02 <RussellDaytrade> Exited all ER2 Long @ 791.8 --> + 17 «« paper »» 12:44 <codehead> long YM 12505 <paper> 12:45 <RussellDaytrade> oops, thats at 781.8 Exited all ER2 Long @ 781.8 --> - 3.5 «« paper »» Long ER2 @ 780.7 «« paper »» startin over. that whole group trade essentially ended flat, and possiv=bly even paid for a little commisions 12:47 Long ER2 @ 780 -> Add «« paper »» most definitely didn't make anything, but, came back from an 1100 or so DD at the worst point. 12:49 net .70 after commisions for the morning trades group(s), not counting the last 2 buys just now. 12:58 long 2 at ap of 780.4 12:59 amzing how good them awful-looking shorts from late friday look this am. 13:00 timing is gettin beter, has improved from being aday or so early, to about a half day, moving in the right direction. :) 13:01 <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 13:04 <RussellDaytrade> Exited all ER2 Long @ 780.3 --> - 0.1 «« paper »» 13:06 wanna be long, a little hesitant after this am's trading. 13:07 Long ER2 @ 780.4 «« paper »» got a 783.5 target working with approx 20 minutes remaining 13:10 good luck! <pdays> RD top of last 3 hour range is only 782.4 13:15 <RussellDaytrade> yes. it that signify something to you pdays? 13:16 <codehead> exit half YM +10 <paper> 13:18 <RussellDaytrade> Exited all ER2 Long @ 782.5 --> + 2.1 «« paper »» 13:19 thats better <codehead> exit remainder YM +11 <paper> 13:26 taking too long, had 20 tick target on rest 13:27 think it still might get there <Brutus> 1430/1930 San Francisco Fed Pres Yellen speaks on 13:45 the economic outlook in Reno, Nev. <RussellDaytrade> shes just speaking about the econ outlook of Reno Nev?? just kidding Brut! 13:48 i think i am officially in PPM. its more like, 'i was screwing up right and left this am, and will leave it alone for the time being', mode. up aprox 260 net of comissions, after all is said and done so far today, but really dented the long DD/to profit factor, (by a whole point at worst level, last trade gained it a bit, from 3.84 this am, to 4.86, now at 4.33). 13:55 Niha, thanks again for setting up my password to SL. i am planning on periodically updating my trade log into the trade journal forum, and noticed that the file-types for attaching do not include xls, which is what i have my trade log on. any idea whether this may be made an additional option? can always update it to ET and post link, would rather post it to SL if possible. 14:00 <szubaark> 09:52] <werner> leading indicators postponed 14:09 there sure was a drop following 10 am <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 14:13 <NihabaAshi_away> Shorts ER2 @ 782.50 -> small size 15:04 2 contracts only 15:05 * NihabaAshi_away is now known as NihabaAshi <NihabaAshi> Oh oh...I'm starting to smell a little trouble. 15:06 <pat255> it may move up a bit niha... 15:08 just on stch readings.. <NihabaAshi> pat...agree...trying to bail with a 2 tick profit. Covered ER2 Short @ 783.00 --> - 0.5 15:10 Reverse and Enter Long ER2 @ 783.00 Long ER2 @ 782.90 -> Add 15:11 <pat255> biab back to work...ty 15:13 <NihabaAshi> Exited ER2 Long @ 782.20 --> - 0.8 15:18 Reverse and Enter Short ER2 @ 782.20 <ItalianSharp> nice chop i should say 15:19 <NihabaAshi> Reversed into some extra contracts after getting suckered into that Long position. <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 15:25 <NihabaAshi> Market breadth all over the map the last 10mins... 15:30 Covered 1/3 ER2 Short @ 781.90 --> + 1 15:32 Script error..should say +0.30 15:33 <ItalianSharp> jeess...volatility appears and it quickly disappears making it very tough to hold onto positions <NihabaAshi> Covered 1/3 ER2 Short @ 782.10 --> + 0.1 15:35 Covered Remainder ER2 Short @ 782.20 --> 0 15:36 Long ER2 @ 782.40 -> medium size 15:37 ER2 missing in action so far for the past 3mins :( 15:44 I think the term is MIA. <ItalianSharp> yes...unbelievable how dead this index has become seriously...i think i am gonna quit trading ER2 after the open...maybe i can take a look at price action around news time, but i think i'm much better off staying out of this crap ...most of the days its been like this...forget it 15:47 the dow jones looks much nicer...making new highs while ER2 stuck in a 5 tick range 15:48 <NihabaAshi> Some days its vice versa...volatility very low and at equilibrium since I've returned to trading this late afternoon trading session. 15:50 Exited ER2 Long @ 782.90 --> + 0.5 15:51 Holding 4 contracts Exited ER2 Long @ 783.00 --> + 0.6 Holding 3 contracts Exited ER2 Long @ 783.30 --> + 0.9 15:52 Holding 2 contracts <ItalianSharp> yes...thats true...however, if the open is very volatile...i am gonna quit right there, hopefully catching some of that volatility...if the open is not volatile, markets likely are waiting for some late news...and i am just gonna be patient and stay out until the market decides to pick up its volatility... <NihabaAshi> Right back to my profit level prior to returning to trading this afternoon. 15:53 <ItalianSharp> the risk-reward is just aweful when volatility is not there <NihabaAshi> Not worth it so far. If I can catch a lucky 784 on these two remaining contracts... I'll consider it worthwhile. <ItalianSharp> tough price action...really tough...2 minutes ER2 looked like it was ready to explode...and now we are almost back to the same level.... 15:54 <NihabaAshi> Exited Remainder ER2 Long @ 782.60 --> + 0.2 15:55 Shorts ER2 @ 782.10 -> small size 15:56 2 contracts only Rising volatility on the retrace but I was late in reacting to it to get Short. 15:57 Covered ER2 Short @ 781.50 --> + 0.6 16:00 Holding 1 contract Covered Remainder ER2 Short @ 782.00 --> + 0.1 16:01 Long ER2 @ 781.90 -> small size 16:04 Exited 1/2 ER2 Long @ 782.30 --> + 0.4 16:05 Exited Remainder ER2 Long @ 782.60 --> + 0.7 It was very "interesting" volatility this afternoon but I wanted to trade it to try to become more comfortable with it. 16:07 Usually I avoid it and call it quits earlier in the trading day. Made a little extra to go with my morning profits but not worth the effort :( On that note...I'm done trading for the day. 16:08 <RussellDaytrade> i think you can develop a good feel for it... perhaps not quite as volatile as the am sessions, but still offer opportunities. <NihabaAshi> Yes...there are opportunities. 16:13 <WannaBeBOS> nice trading at any rate niha 16:17 <NihabaAshi> Eventually I'm going to figure out a way to trade that low volatility late afternoon session when there's very little institutional involvement. 16:19 Will soon be experimenting with tick charts or charts less than 1min or not based upon time...just ticks. 16:20 <werner> gn all 16:35 <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 16:37 <NihabaAshi> Take care all and see all tomorrow. 16:45 * DisconnectedSession Close: Mon Jan 22 16:46:19 2007 16:46 Sponsor: Sponsor:
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