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#FuturesTrades January 22nd Tuesday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+32.40	+226.70	+226.70
$3,240	$22,670	$22,670

Profitable Trade

0935am - 0950am est

Losing Trade

0831am - 0840am est

click on image to view actual size

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

General Strategy Info: The above profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi) only and all trades were posted in realtime as shown in the below chat log.

Although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based (no subjectivity) methodology that involves WRB Analysis.

There is some subjectivity involved with some of my trades when I'm developing a new strategy (hence the name TheStrategyLab.com) that uses WRB Analysis.

In fact, many of my trades or profit targets will occur within key WRB support/resistance zones because these price areas gives me a better understanding of key changes in supply demand.

Traditional pivot point analysis or traditional s/r levels are inadequate in understanding changes in supply/demand of the Russell 2000 Emini ER2 or any other trading instrument of today's markets in comparison to WRB Analysis.

WRB Analysis is also a key aspect in my use of intermarket analysis (ex. Oil and Gold), market seasonal tendencies, volatility analysis and custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

Further, position size management is a key aspect of my trading and I trade any where between 1 to 9 contracts per trade depending upon the volatility, pattern signal, seasonal tendencies or intuition.

All of my trades and commentary for today's market action (posted below) are via the user name NihabaAshi (Japanese Candlestick term) and I exclusively trade the Russell 2000 Emini ER2 futures even though I closely monitor other key markets so that I'll have a better understanding of ER2 price action.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in realtime along with the trades of other members of #FuturesTrades.

Further, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Session Start: Tue Jan 22 08:25:43 2008Session Ident: #futurestrades

* Now talking in #futurestrades 08:25

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<NihabaAshi> I just saw the news alert about the FED "surprised rate cut". 08:26

<Nesi> yup

<rickf> i made it a point not to be short premarket -- had a feeling this would happen

<NihabaAshi> Unbelievable market stuff the last 48hrs.

<rickf> friend got burned 20 points on that first whipsaw on the es 08:27

btw gm all :)

<pat255> gm all

<NihabaAshi> Shorts ER2 @ 754.70 -> small size 08:28

<Nesi> 654.70 :)

<rickf> cnbc says they 'expect' another 50pt cut @ the meeting next week?!? 08:29

<NihabaAshi> Yeah...I'll correct it in a minute

Shorts ER2 @ 654.70 -> small size

<ItalianSharp> rick...yes

<rickf> wow

<ItalianSharp> today's was an emergency rate cut

i take this as very bearish though 08:30

that means the US economy is in big sh..t

<rickf> IS: definately

though the es action since the cut today is really ducky --- almost like they're sceptical

<NihabaAshi> It's trying to spike :( 08:31

Covered ER2 Short @ 657.50 --> - 2.8

Reverse and Enter Long ER2 @ 657.50

<werner> gm niha,all 08:32

<rickf> gm werner 08:33

<werner> :)

<NihabaAshi> Too bad the "pin ball machine" like price action still remains... 08:37

Was hoping the big drop and the FED surprised rate cut cleared out that junk that we've seen the past few weeks. 08:38

<GoodMood> what happened to the DAX-quotes between 08:20 and 08:25 ? I have no quotes at all 08:39

<NihabaAshi> I have dead quotes too

<Nesi> i am ok here

<NihabaAshi> I expect a lot of data vendors to have data problems today :)

<GoodMood> due to the heavy load ... 08:40

<NihabaAshi> Exited ER2 Long @ 654.50 --> - 3

Reverse and Enter Short ER2 @ 654.50

volatility still declining 08:43

<ItalianSharp> yes niha...i had problems the other day so today i am sitting out until things settle down a little 08:44

in addition, you gotta be willing to risk 40-50 ticks per trade to even participate in this thing 08:45

it'll be interesting to see what Trichet has to say tomorrow morning during his speech... 08:48

<NihabaAshi> Pin Ball Machine price action just returned again

<ItalianSharp> Europe is the only country left that hasnt cut rates yet

<Nesi> Europe a country? :) 08:49

<werner> lol

<Nesi> joke :)

<werner> wow 08:51

<NihabaAshi> geeesh

<Nesi> amazing

<rickf> ?

whoa

<Nesi> this is history on real time

<Brutus> home run N

<NihabaAshi> Covered ER2 Short @ 648.00 --> + 6.5

<sb> nothing like 150 tick, 1min moves

<rickf> nice

<pat255> vn N.. 08:52

<NihabaAshi> I manage to get two order in when it went below 657.00

No fills :(

<pat255> :( 08:53

Trading Edge:
Strategies
If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management, intermarket analysis with a money back guaranteed policy...click here.

Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<Brutus> once the 5% floor is gone, who knows

<NihabaAshi> Anyways...I'm only trading 1 contract.

<sb> this spread scares me

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY)

<NihabaAshi> Still wished the FED did their surprised cut during regular trading hours to really juice up the price action.

<Brutus> fed is much more considerate these days :) 08:54

<NihabaAshi> :)

<Brutus> and least its out of the way

<rickf> almost like there was no rate cut today 08:55

looking @ the es

<NihabaAshi> Good point...I got tired of hearing that the market is expecting a rate cut over the past 2 weeks.

On the consumer side...great time to reduce the credit card debt. 08:56

Unfortunately, on the flip side, most will increase their debts due to lower rates :(

Simply, we haven't hit bottom yet concerning the economy to force consumers to change their habits. 08:58

<rickf> exactly 09:00

but the consumer credit has a long way to go down imho

<ItalianSharp> consumer credit will be the next bubble to burst 09:03

<werner> what a day...limit down...fed cut... 09:05

<pat255> y consumer tapped out ..

more bankruptcies

<PapaJon> gm all 09:06

<ItalianSharp> bob pisani just said somethign interesting:

majority of traders want to see the ECB cut rates 09:07

stay tuned to mr trichet's speech tomorrow

<rickf> bank of canada cut .25pts 09:08

<werner> thats the first time pisani said someting interesting :) 09:09

<rickf> lol 09:10

ubs and bac came out w/notes suggesting folks BUY the equity dip today

i figure they wanted to get buyers for all the stuff they needed to sell

<ItalianSharp> maria bartiromo just warned today's will be one of the worst opens on record 09:22

she's speaking from davos, switzerland...she looks hot with that nice russian hat...:) 09:23

<rickf> at least she didnt sound like a squeaky-voiced cheerleader like she normally does

must be the cold :)

<werner> lol IS

<ItalianSharp> i am going to be very careful trading the first hr today... 09:24

i expect a lot of yo-yo price action early in teh day due to markets having been closed yesterday

lots of settlements will take place in the early minutes

<NihabaAshi> Long ER2 @ 651.00 -> small size

<pat255> y dont want to get caught in that.. 09:25

<KN-ES> Shorts ES @ 1267 09:26

<NihabaAshi> Exited ER2 Long @ 649.30 --> - 1.7

Reverse and Enter Short ER2 @ 649.30

<KN-ES> Covered 5/6 ES Short @ 1265 --> + 2 09:27

<NihabaAshi> :( 09:28

Gotta tighten the stop on this one

exit stop lowered ER2 @ 649.00

<rickf> 1 minute to showtime 09:29

<NihabaAshi> Yep...reason why I'm tightning things up

<KN-ES> Covered Remainder ES Short @ 1267 --> 0 09:30

<NihabaAshi> :( 09:31

Trailing Stop Hit ER2 @ 649.00 --> + 0.3

<ItalianSharp> data problems already 09:32

hate this

<rickf> NAS index down 115

<werner> you use TS?

<ItalianSharp> yes 09:33

tradestation jsut can't handle all this action...really bad servers

<werner> no prop here

<ItalianSharp> man...what's wrong with my feed then?

<Nesi> my sistem down

<ItalianSharp> i had no problems until the open

<werner> :( 09:34

<ItalianSharp> the moment markets opened my feed was cut...it comes back every 30 secs

cant trade under these conditions

<werner> wow :(

<NihabaAshi> Long ER2 @ 652.60 -> small size 09:35

2 only

<ItalianSharp> i wouldnt be trading anyways now...yet, i'd like to have the option to trade or not to trade...

now i am forced to NOT TRADE...:( 09:36

<NihabaAshi> If this doesn't clear 655 price area...it has a good chance of retracing and making new intraday lows.

<silo> did the contract symbols changed? 09:38

anyone using TS?

<werner> no

i had that yesterday

reboot your pc

<silo> ok nevermind 09:39

works now

<werner> ok

<NihabaAshi> Exited 1/2 ER2 Long @ 657.10 --> + 4.5

<silo> nice

<rickf> vn 09:40

<KN-ES> Shorts ES @ 79.25 09:41

Covered all ES Short @ 80.25 --> - 1

<startrader> Shorts ES @ 1284.25 09:44

<ripsboy> gm folks...

<NihabaAshi> Just lost my Oil and Gold data :(

<szubaark> Shorts ES @ 1483.75 «« paper »»

<startrader> Covered 2/3 ES Short @ 1483 --> - 198.75 09:45

<silo> hey niha.... how come you are not switching to a different platform if qcharts gives you so much trouble? 09:46

<NihabaAshi> All my data vendors gives me trouble :( 09:47

Not just QCharts

<Nesi> my sistem holding up very well

<silo> mine too 09:48

<disciple33> maybe its a computer or connection issue? 09:49

<NihabaAshi> Exited Remainder ER2 Long @ 667.70 --> + 15.1 09:50

<rickf> bravo!

<NihabaAshi> geeeesh

<Nesi> wow

<NihabaAshi> crazy

<pat255> wtg

<disciple33> nice

<futurible> WWN

<werner> wow nice

<ripsboy> great trade...

<rickf> niha buys the drinks tonight

<ItalianSharp> niha, is that a record trade on your reminder?

<Brutus> VN N

<NihabaAshi> ItalianSharp...no.

<silo> what's the most points you've made with one move 09:51

<NihabaAshi> My record trade was a swing trade Short position that was open the trading day before 911.

<ItalianSharp> niha...what about intraday? 09:52

<NihabaAshi> I won't say exactly how much I made but I used the money to pay off my condo at the ski resort.

<silo> how about an intraday play

lol

<NihabaAshi> ItalianSharp...my intraday record is like +22 points on ES

<ItalianSharp> wow...that's HUGE

<rickf> shorted es 1294.25 09:56

<NihabaAshi> volatility is rising again 09:57

<rickf> exit es 1286.50 +7.75 09:58

<werner> nice

<rickf> ty

<jperl> quick morning....trades here...

http://charts.dacharts.com/2008-01-22/JP ERL_014.jpg

<rickf> only 1 contract tho -- looked like a decent opportunity

<Brutus> 1000/1500 Jan Richmond Fed Mfg Index 09:59

Manufacturing Index -4

<ItalianSharp> tradestation users who have no datafeed problems: are you on TS 8.1 or 8.3? 10:02

<werner> 8.3 here 10:03

<ItalianSharp> :(

i am on 8.3 too

<Andy> I have had nothing but datafeed/computer problems all morning...:( on Tradestation, latest release 1419

<silo> 8.3

<werner> build 1419 10:04

<ItalianSharp> same with me

<Andy> call them up, I hear they're giving refunds on trades you "would have made" 10:05

<ItalianSharp> you sure andy?

<Andy> :)

<ItalianSharp> :)

<rickf> i'm leery of these 'micro rallies' 10:24

<werner> . 10:42

<rickf> geez it's tempting to go long es but i remain sceptical 10:43

well i've been on since 0630, i'm going to head out to the gym for a bit to clear the head -- gl all, back soon 10:47

<NihabaAshi> Long ER2 @ 672.80 -> small size 10:55

2 only

volatility contracting again... 10:57

was not expecting that to happen

Exited 1/2 ER2 Long @ 674.90 --> + 2.1 10:58

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 10:59

<NihabaAshi> Just lost my support from Oil and Gold...ER2 on its own now :( 11:00

Exited Remainder ER2 Long @ 677.20 --> + 4.4 11:03

<pat255> vn N.. 11:04

misseed the enetry but L is betetr

<NihabaAshi> I'm making up nicely for the $40 trading day I had on Friday that was due to having to quit trading for the day after my second trade of the day.

<KiwiRoo> ER2 is +3.5 for the day.. wow.....

<NihabaAshi> Wow 11:05

ER2 closed its overnight gap. 11:06

<ItalianSharp> amazing rally thus far

<NihabaAshi> Incredible after all the negativity

<Trader222> this is reminding me of the Option Friday after 9/11/01

<Nesi> greed amd fear at its best 11:07

<Trader222> when the tape owned down YM 500 pts and saw green

<ItalianSharp> the problem for the markets is that the close is still 5 hrs away...

mkts can fall a lot in 5hrs

<startrader> Shorts ES @ 1318.25

<Trader222> but not trading today; my first day 'back' after being away for 2-3 weeks due to family issue

<NihabaAshi> If it does drop...today should produce a record breaking day of volatility

<ItalianSharp> niha, how does today's volatility compare to high volatility you saw in the past? 11:08

<NihabaAshi> Past as in yester years ??? 11:19

<ItalianSharp> past years i meant

<NihabaAshi> I remember the late 90's like this often and even when the bubble bursted... 11:20

Some crazy volatility days produced big profits.

I learned quickly back then to not fear volatility because that's where the profits were at. 11:21

<Nesi> wow 11:33

<startrader> 15 min ivb breakout and weak 60 min bar brought in the sellers. 11:34

<NihabaAshi> ER2 has retraced all the way back to the most recent prior "rocket launch".

It needs to hold here or it's in trouble 11:35

675.30 - 670.60 is my key price acrea for ER2 11:36

<ItalianSharp> need to reboot my computer...:(

<NihabaAshi> It's only big due to the extreme volatility

<startrader> should trade back to 1309

<robert> star were you able to hang on to your recent short? 11:38

<startrader> Added to 23.75, no kidding. I posted to a buddy last night 1324 will be a magnet because of the 60 min bodies on Friday. Started at 18 aas it was the low of one of the 60 min bars. 11:43

Got out at 10.25. 11:44

<Nesi> Shorts ER2 @ 672.00 «« paper »»

agressive entry

<NihabaAshi> Long ER2 @ 672.20 -> small size

1 only

<robert> nice star 11:45

<Nesi> Covered all ER2 Short @ 671.00 --> + 1 «« paper »»

<NihabaAshi> Exited ER2 Long @ 673.30 --> + 1.1 11:47

crazy

* codehead_afk is now known as codehead

<Nesi> i bet most traders wont take lunch today :) 11:51

news? 11:52

<startrader> Wearing depends here, better than self catheterization. I knew a long distance kayaker that did that. 11:53

<Guest35179> Long ER2 @ 672.4 11:54

<Nesi> Shorts ER2 @ 673.00 «« paper »» 11:55

<Guest35179> Exited all ER2 Long @ 673.2 --> + 0.8 11:57

<Nesi> Covered all ER2 Short @ 673.50 --> - 0.5 «« paper »» 12:00

<TraderO> test 12:07

<Guest35179> Shorts ER2 @ 679.8 12:10

<NihabaAshi> Anybody have their brokers raise margins due to the recent volatility and FED action ??? 12:13

<Nesi> yes

<NihabaAshi> I just heard OpenEcry did.

<Nesi> 50 % more

<startrader> oec up to 50% of overnight. 12:14

<ItalianSharp> well, i think it's the right thing to do

<Nesi> no complains here

<ItalianSharp> there are some crazy inconsiderate irresponsible traders who like to blow out these day

so brokers must do whatever necessary to protect themselves from losing money due to these guys 12:15

<Nesi> http://www.youtube.com/watch?v=rCtQL5b_r CM

take a look at that video, italiano

* Retrieving #futurestrades modes...

<Guest35179> Covered all ER2 Short @ 678.1 --> + 1.7

<sb> poor guy. 12:16

<NihabaAshi> wow

<ItalianSharp> man...is that guy stupid or what?

<sb> but holding into a holiday weekend seems odd, on the long side

<NihabaAshi> He looks like like he's about to faint :(

<Nesi> he spent sunday night trading

no funny at all.. imo

<ItalianSharp> he keeps swearing but it's all his fauly

fault

<rickf> idiot....no stops

no plan

just hope 12:17

<ItalianSharp> yeah...well said rick

<silo> is that a college student :P

<ItalianSharp> that's what you get when you dont use money management

i am going to take a break...be back later

<NihabaAshi> I'm afraid to fast forward the video...may see a live suicide.

<rickf> lol

* ItalianSharp is now known as ItalianSharp_away 12:18

<startrader> I was waiting for that as well.

<Andy> Anybody's computer melting down with Tradestation? This is the second time today all my screens have gone black 12:20

<silo> lol

<NihabaAshi> How's he able to do the split screen like that???

<silo> he just flipped over his keybarod

<Andy> with prices and symbols flashing all over the place :(

<TraderO> That is a great VIDEO. lolllllllllll 12:21

How many Contracts does he have?

<NihabaAshi> I'm trying to figure that out too.

Geeshhh...

<domvert> 10 er2

<futurible> 10 CONTRACTS IN ER2

<TraderO> Whats he talking about . Looks like he's LONG ER2 12:22

OK

<NihabaAshi> Wow...crazy video.

<silo> the funny thing is... his name on youtube is called : HIGH PROBABILITY TRADE 12:23

:D

<TraderO> lol

<NihabaAshi> No WAY.

I know that guy online

<silo> really? 12:24

http://www.youtube.com/watch?v=2qlPW4wSz M8

follow up video

<NihabaAshi> Yeah...this is his blog at http://highprobability.blogspot.com

<silo> oh shit he follows the hershey method

haha

he follows the hershey method right?

or uses it

'cuz i see some things on his charts that the hershey traders use 12:25

<Brutus> it was high probability until today :)

<startrader> Long ES @ 1309.50 12:26

Exited 3/4 ES Long @ 1312 --> + 2.5

<TraderO> Low was around 637 that's another that lost another 17,000 at the LOW 12:27

<NihabaAshi> His blog saids the total loss was 31,272.87 :(

<futurible> YES 12:28

<silo> i'd bet he no longer has a computer today when he sees the futures up this much

and he sold out

:)

<rickf> egads

<silo> 'cuz he punched a hole through his monitor

<NihabaAshi> Wished he kepted his cool and been able to go Long this morning.

<jc> If he held, he'd have a profit right now, Ha! 12:29

<NihabaAshi> Yep...it was 10 ER2 contracts

<Guest35179> he got out at 647?...if he held on to now... 12:30

<silo> just found this link on this blog

http://traderhalloffame.blogspot.com/

<NihabaAshi> Yeah...he posted that last year...almost forgot about that. 12:31

<Guest35179> very unhealthy way of trading..affecting his whole life

<NihabaAshi> Glad he didn't post about my my biggest losing day back in early 2002 12:32

-15k in one day :(

<silo> how did yo know this guy

did he use to follow your system ?

<Guest35179> what did you learn from that day Niha?

<NihabaAshi> silo...someone in here already said what system he uses...

Something called Hershey.

<rickf> jack hershey method 12:33

<NihabaAshi> Only hershey method I heard about was a ET member Jack Hershey

<rickf> there's a big thread on ET about it

<NihabaAshi> [12:32] <Guest35179> what did you learn from that day Niha?

<silo> i think i made the mistake of saying he might be trading jack hershey method

<Guest35179> Hershey? seems like that method melted like chocolate

<silo> i read the chart wrong

:) 12:34

he is using HA chart

<NihabaAshi> I learned prior to that big loss from a prior big loss 5 years earlier...

"DON'T PANICK".

Anyways...I didn't panick and made the money back in 3 trading days. 12:35

<silo> that was back in the days right ? when you used to swing trade? 12:36

<NihabaAshi> No...back when I was trading between 10 - 30 ES contracts 12:37

Day trading

<Guest35179> Shorts ER2 @ 676.1

<NihabaAshi> More importantly, I didn't do a lot of position size management back then. 12:38

Back then I used the same size all trading day. 12:39

<TraderO> Shorts ER2 @ 675.6

<NihabaAshi> The next day I would use a different size but again use the same size all day.

In contrast, I know the price action volatility changes from minute to minute.

Thus, I change my position size intraday now. 12:40

<Guest35179> higher probability=bigger contract?

<TraderO> 2 contracts sTOP 677.6 Target 1 674.6 12:41

<NihabaAshi> And higher volatility = bigger size

Only if everything else was in place.

<Guest35179> Long ER2 @ 674.2 12:42

correction...that was exit

<TraderO> Covered 1/2 ER2 Short @ 674.6 --> + 1 12:43

<pat255> vn

<startrader> Looks like they are setting up to make some hay one way or the other.

<TraderO> Stop At B/E 675.6 12:44

<rickf> es having hard time passing 1310 12:48

<NihabaAshi> volatility declining in lots of key markets right now 12:49

<TraderO> Covered Remainder ER2 Short @ 674.6 --> + 1 12:50

<NihabaAshi> Shorts ER2 @ 674.30 -> small size 12:52

trade error

<pat255> looks it may bounce .. 12:53

<Andy> This is the type of price action that has chewed me up to hamburger in the past...

<pat255> y andy ... 12:54

<NihabaAshi> Covered ER2 Short @ 674.60 --> - 0.3 12:55

<Guest35179> Long ER2 @ 674.9 12:57

<NihabaAshi> Long ER2 @ 674.80 -> small size 12:58

<startrader> Exited Remainder ES Long @ 1313.25 --> + 3.75

<rickf> nice 12:59

<startrader> This could melt up here.

<Andy> I know where I don't have an edge...and it's right here.

though, nice job Niha 13:00

<TraderO> Shorts ER2 @ 676.7

Stop 678.7

<NihabaAshi> Exited ER2 Long @ 677.30 --> + 2.5

<pat255> vn .. 13:01

<rickf> nice es spike

<Guest35179> Exited all ER2 Long @ 677.2 --> + 2.3

<NihabaAshi> Back to back trade errors... 13:02

One unlucky trade and one lucky trade.

Will take a break...be back later.

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY)

<TraderO> Target 675.7 on 1 13:03

<startrader> Shorts ES @ 1318.75 13:05

Covered 3/4 ES Short @ 1315.75 --> + 3 13:08

<TraderO> Covered 1/2 ER2 Short @ 675.7 --> + 1

<startrader> Covered Remainder ES Short @ 1318.50 --> + 0.25

shouldve traded the meltup. 13:09

<Guest35179> Long ER2 @ 679.3 13:11

<startrader> Shorts ES @ 1321.75 13:12

<rickf> still not sure 'bout going long; prolly a sucker's rally to sell stuff

<startrader> Covered 3/4 ES Short @ 1316.75 --> + 5 13:14

<pat255> vn star ...dang cud not take it ..

<rickf> almost had that one star - 21.75 was top of my fib graph on that run 13:15

but watched from the sidelie instead

<pat255> vvn tarde 13:16

<startrader> Also top of 15 min ivb.

<rickf> ivb?

oh nm 13:17

<startrader> inside vertical bar from 11:15 est

<Guest35179> Exited all ER2 Long @ 677.9 --> - 1.4 13:19

<startrader> Covered Remainder ES Short @ 1315.50 --> + 6.25 13:20

<rickf> vn

<startrader> holding 1 for be or 1309. 13:21

<pat255> star i dont c inside bar on 15 min.. 13:22

np will check 13:23

<startrader> 11:15 15 min bar inside proceeding wide bar.

<pat255> i c it ty 13:24

* ItalianSharp_away is now known as ItalianSharp 13:26

<startrader> covered remainder at 10.50. 13:29

may the meltup continue.. 13:30

<pat255> vn trade star ... 13:31

start for that ivb u took the S @1:10...? 13:32

<startrader> yes, I was shorting various levels within for awhile. I will usually trade the top or bottom of it too depending on time of day and where we are in the daily range. 13:35

<pat255> ..ty 13:36

<rickf> lotta chop here 13:39

<Guest35179> Long ER2 @ 676.3 13:41

Exited all ER2 Long @ 675.2 --> - 1.1 13:42

Shorts ER2 @ 673.2 13:48

<startrader> Long ES @ 1307.75 13:49

<rickf> right off the fib line -- startrader, you readin' my charts? :)

<Guest35179> Covered all ER2 Short @ 673.9 --> - 0.7 13:50

<startrader> Exited 2/3 ES Long @ 1311.75 --> + 4 13:51

I am reading you mind...

<rickf> either that or my ta is getting better... 13:52

<startrader> this volume is pathetic. 13:53

<Guest35179> Shorts ER2 @ 672.9 13:57

668 target 14:05

Covered all ER2 Short @ 671.3 --> + 1.6 14:08

Shorts ER2 @ 672.2 14:14

Covered ER2 Short @ 673.8 --> - 1.6 14:20

Reverse and Enter Long ER2 @ 673.8

<pdays> Long ER2 @ 673.1 14:23

Exited 1/2 ER2 Long @ 673.6 --> + 0.5

Exited Remainder ER2 Long @ 673.8 --> + 0.7

<Guest35179> Exited all ER2 Long @ 671.9 --> - 1.9 14:33

<startrader> Shorts ES @ 1305.75 14:41

Covered all ES Short @ 1307 --> - 1.25 14:43

do not trade out of boredom!

<rickf> :(

<startrader> Long ES @ 1310 14:47

Exited all ES Long @ 1312.25 --> + 2.25 14:48

<rickf> nice scalp

bush speaking in a few seconds

<startrader> thanks for the heads up.

<Brutus> 01/22/2008 14:43 *DJ Bush: Optimistic Lawmakers Can Find Common Ground On Stimulus 14:49

<rickf> done 14:50

nothing major

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 15:05

<rickf> lol....abbie jo cohen says 11pct return on Dow by year end 15:18

does she EVER go even mildly bearish?

long MSCI EAFE 2003.80 15:21

(paper)

exit MSCI EAFE 2008.00 (paper) 15:22

<startrader> what is the symbol on the eafa on your platform r? 15:23

<NihabaAshi> Long ER2 @ 675.00 -> small size

1 only

<rickf> EFEH8

but next to no volume

also papertrading the n225 emini, trying to learn more about it 15:24

<startrader> does that trade in yen? 15:28

<rickf> cme has 2 contracts, one usd one jpy

<NihabaAshi> Exited ER2 Long @ 675.40 --> + 0.4 15:30

<startrader> Long ES @ 1316.50 15:31

<Guest35179> Long ER2 @ 675.6

<startrader> late entry but looking for test of highs.

<rickf> maybe headfake? 15:32

<startrader> thanks for the support r?:) 15:33

<rickf> lol -- sorry :(

*waves hands* It *will* go UP!

*happy?)

<startrader> just kidding, thanks, yes!

it's working! 15:34

<rickf> no warranties, guarantees, trade @ your own risk. magic not warrantied

long NKH8 13055 1 contract (paper)

<Guest35179> Exited all ER2 Long @ 676.7 --> + 1.1 15:35

<NihabaAshi> Long ER2 @ 677.30 -> small size 15:36

<startrader> that was a meltup! Thanks.!

<NihabaAshi> intuition re-entry based upon the same bullish price action of the prior trade.

<rickf> where shall i send invoice for magic services?

es - maybe this was a short squeeze before close?

<startrader> Exited 1/2 ES Long @ 1322.25 --> + 5.75 15:37

try the north pole, I keep a summer place there..

<Guest35179> Long ER2 @ 677.9

<robert> nice

<NihabaAshi> Exited ER2 Long @ 678.70 --> + 1.4

<startrader> Exited Remainder ES Long @ 1324 --> + 7.5

WRB Analysis

Learn More

<rickf> star - very very nice 15:38

<Guest35179> Exited all ER2 Long @ 679.4 --> + 1.5

<werner> geeez what a day 15:39

<startrader> may settle back down to 1310

<werner> index here 10% in the reverse 15:40

<rickf> short es 1317 15:42

exit 1319 - 2 pts 15:43

<startrader> Shorts ES @ 1317.25 15:45

<Guest35179> Shorts ER2 @ 677.1 15:47

<Nesi> Long ER2 @ 677.50 «« paper »» 15:48

<Guest35179> Covered all ER2 Short @ 677.4 --> - 0.3

<Nesi> feels coiling to me 15:49

like last attempt for dow to end green

just a risky feel

Exited all ER2 Long @ 676.60 --> - 0.9 «« paper »» 15:50

i was wrong

VERY wrong

* silo slaps Nesi around a bit with a large trout 15:51

<Nesi> good :)

<silo> :D

this is to help you remember this mistake

:P

<Nesi> all this mess and we are getting earnings for big names

gonna be interesting again

<startrader> Covered 1/2 ES Short @ 1314 --> + 3.25 15:52

<Nesi> another reality check? 15:53

<silo> still got 6 more minutes

DROP DROP DROP !

haha

<startrader> Covered Remainder ES Short @ 1310.50 --> + 6.75 15:54

<rickf> nice

<startrader> 1 tick from getting stopped out at 20 to boot. 15:56

<NihabaAshi> Long ER2 @ 672.50 -> small size 15:57

<rickf> k guys i'm off for the night. been a loooong day. :) gl, see you tomorrow! 15:58

<Nesi> NQ weak 16:00

<NihabaAshi> Exited ER2 Long @ 673.30 --> + 0.8

Looks like I got out just in time before the last 4pm est rush hour traffic. 16:01

<Nesi> yes

ER was lagging a bit 16:02

<Guest35179> Long ER2 @ 671.1

<GoodMood> when will the AAPL-news be released ?

<Guest35179> Exited all ER2 Long @ 669.6 --> - 1.5 16:05

<NihabaAshi> Awesome trading day due to the high volatility 16:12

<werner> yeps 16:13

15 hours study in enough for today 16:18

gn all

<NihabaAshi> Take care all and see all tomorrow 16:20

* NihabaAshi is now known as NihabaAshi_away

<Nesi> good night maestro

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