#FuturesTrades February 5th Tuesday 2008 Trade Log

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 Feb 05 09:27:28 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	09:27
<X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<Brutus>	GM everyone	09:28
<drt>	gm all	09:29
<Nesi>	good trading all
<rickf>	you too	09:30
<PapaJon>	gm all	09:33
<NihabaAshi>	Shorts ER2 @ 712.30 -> large size	09:38
<szubaark>	Shorts ES @ 1356.50 «« paper »»	09:39
<NihabaAshi>	my anti-vrus program just kicked in :(	09:40
<startrader>	Long ES @ 1357
<NihabaAshi>	Covered all ER2 Short @ 713.50 --> - 1.2
<startrader>	Exited 1/2 ES Long @ 1358 --> + 1	09:41
<szubaark>	Covered all Short ES at 1358.25 --> - 1.75 «« paper »»
	Buys ES @ 1358.25 «« paper »»
<KN-ES>	Long ES @ 58.25
<startrader>	Exited Remainder ES Long @ 1359.25 --> + 2.25
<KN-ES>	Exited 3/4 ES Long @ 59.25 --> + 1	09:42
<Nesi>	pinball
<startrader>	this action and levels give me the jitters. 57 handle is 62% of 1.31 lows. trying to hold it here.	09:43
<NihabaAshi>	Shorts ER2 @ 714.00 -> large size
<KN-ES>	Exited ES Long @ 56 --> - 2.25	09:44
	Reverse and Enter Short ES @ 56
<startrader>	Long ES @ 1355.25
<KN-ES>	Covered 3/4 ES Short @ 55 --> + 1	09:45
<NihabaAshi>	Covered ER2 Short @ 713.80 --> + 0.2
<robert1>	Long ES @ 55.25	09:46
<NihabaAshi>	Shorts ER2 @ 713.90 -> large size
	volatility contracting
<startrader>	Exited all ES Long @ 1353.75 --> - 1.5
<NihabaAshi>	pin ball machine price action too :(
<KN-ES>	1/5 out 53.50 + 2.50
	1/5 out 54.00 + 2.00	09:47
	2/5 out 53.50 + 2.50	09:48
	s/l 56
	s/l 59	09:49
<ripsboy>	gm all..
<NihabaAshi>	Covered ER2 Short @ 712.80 --> + 1.1	09:50
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)
	:(
<KN-ES>	Covered ES Short @ 56 --> 0	09:51
	Reverse and Enter Long ES @ 56
	med sz
	Exited 3/4 ES Long @ 57 --> + 1	09:52
<NihabaAshi>	Shorts ER2 @ 714.00 -> medium size
	Covered ER2 Short @ 714.70 --> - 0.7	09:54
<startrader>	Shorts ES @ 1359.75 -> large size
<KN-ES>	Exited 1/4 ES Long @ 59.25 --> + 3.25
<NihabaAshi>	Long ER2 @ 715.00 -> medium size
<KN-ES>	s/l 57	09:55
<startrader>	Shorts ES @ 1360 -> Add
<robert1>	Exited all ES Long @ 60 --> + 4.75	09:56
<startrader>	Covered all ES Short @ 1361 --> - 2.25
<NihabaAshi>	Exited ER2 Long @ 716.80 --> + 1.8	09:57
<szubaark>	Exited all Long ES at 1362 --> + 3.75 «« paper »»	09:58
	Exited all Long ES at 1362 --> + 3.75 «« paper »»
<startrader>	Shorts ES @ 1363.25 -> large size
<KN-ES>	Exited 1/4 ES Long @ 62.75 --> + 6.75
<szubaark>	that was wrong
<startrader>	Covered 3/4 ES Short @ 1361 --> + 2.25
<szubaark>	Buys ES @ 1358.25 «« paper »»
	Exited all Long ES at 1363 --> + 4.75 «« paper »»	09:59
<NihabaAshi>	Resistance up here
	Shorts ER2 @ 716.70 -> medium size
<Nesi>	Paulson: US Housing Downturn 'Significant,' 'Necessary'	10:00
	(Dow Jones 02/05 10:00:06)
<KN-ES>	Exited 1/4 ES Long @ 61.25 --> + 5.25
<NihabaAshi>	Necessary ???
<KN-ES>	s/l 57
<NihabaAshi>	Covered ER2 Short @ 715.40 --> + 1.3	10:01
<startrader>	Covered Remainder ES Short @ 1359.50 --> + 3.75	10:02
<NihabaAshi>	volatility contracting	10:03
<KN-ES>	s/l hit 56 out 57 ............ +1.00
	Long ES @ 58.25	10:04
	sz
<NihabaAshi>	Long ER2 @ 716.30 -> medium size
<szubaark>	Buys ES @ 1358.25 «« paper »»	10:06
<NihabaAshi>	more contracting volatility
	Exited ER2 Long @ 715.50 --> - 0.8	10:07
<KN-ES>	out 56 ........ -1.00
<Pepe>	:(
<KN-ES>	- 2.25	10:08
<NihabaAshi>	Shorts ER2 @ 715.40 -> medium size
<szubaark>	lots of shakes out there
<NihabaAshi>	geeesh...its fast this morning
<KN-ES>	Long ES @ 56
	sz
<cFox>	Ym db bottom in play	10:09
<KN-ES>	Exited 3/4 ES Long @ 55 --> - 1
	?
	Exited 3/4 ES Long @ 58 --> + 2
<NihabaAshi>	Covered ER2 Short @ 715.80 --> - 0.4	10:10
	Long ER2 @ 715.70 -> large size	10:12
<KN-ES>	add 57	10:13
	out 3/4 58 +1.00	10:14
<szubaark>	Exited all Long ES at 1356.50 --> - 1.75 «« paper »»	10:15
	Shorts ES @ 1356.50 «« paper »»
<KN-ES>	add 58	10:17
	out 3/4 59 +1.00
<robert1>	Long ES @ 58.75	10:18
<NihabaAshi>	Exited ER2 Long @ 716.20 --> + 0.5
<robert1>	Exited all ES Long @ 60 --> + 1.25
<NihabaAshi>	position size error...
<robert1>	exit error ;>)
<NihabaAshi>	I went large when I should have been medium or small size	10:19
	This ER2 price action has to be the "fastest" I've ever traded in.	10:20
	Something big is about to occur.
<ItalianSharp>	yeah, mkts are crazy today
<NihabaAshi>	Today is a good example of learning about the price action via "Hindsight Charts" at the end of the trading day.	10:22
	Hindsight charts do not capture the "speed" of the price action.	10:23
	You need to experience that in realtime or study live recordings of the price action...
	No other way around it.
<szubaark>	yup.
<KN-ES>	Exited all ES Long @ 56 --> 0	10:24
<NihabaAshi>	I got $800 bucks to my name today and I could easily be down a few grand due to not being use to this type of "speed".
<ItalianSharp>	wedge on ES...this exlains the chop
	need to breakout either way to get better price action	10:25
<NihabaAshi>	My profit goal for the day is only $1500
<ItalianSharp>	why niha? because of price action?	10:26
<sb>	'only' :)
<KN-ES>	Long ES @ 57.50
<NihabaAshi>	Long ER2 @ 716.30 -> medium size
	ItalianSharp...yes
<KN-ES>	Exited 3/4 ES Long @ 58.50 --> + 1
<NihabaAshi>	Push higher...geeesh.	10:27
<KN-ES>	1/5 59.75 + 2.25
<robert1>	nice entry niha
<KN-ES>	1/5 60.75 + 3.25	10:28
<startrader>	man they are painting this 60 min bar, tough action.	10:29
<NihabaAshi>	Exited ER2 Long @ 718.40 --> + 2.1	10:30
	Holding 1 contract
	rober1...its "only a nice entry" depending upon where I exit :)
<KN-ES>	1/5 62.75 + 5.25	10:31
<NihabaAshi>	Thus, if I was at a loss right now...that entry wouldn't be so hot :)
<KN-ES>	1/5 61.75 + 4.25
	s/l 57.50
<startrader>	Lost data for 3 minutes and missed that sell!
<NihabaAshi>	Geeesh...its all over the place.	10:33
	Pin Ball Machine
<szubaark>	that last Volatlity spike candle is getting retraced completely LOL	10:35
<KN-ES>	add 58.00
<ItalianSharp>	if ES can't get back up quickly, new lows are in the cards
	some buyers should step in now	10:36
<KN-ES>	3/4 out 59.50 ..........+1.50
<szubaark>	overall tough price action since opening
<KN-ES>	58 out 59 ......+1.00	10:37
<KiwiRoo>	chopy chopy....	10:41
<KN-ES>	its a perfect day for scalping	10:42
<KiwiRoo>	perfect day for your methodology.hehehe
<cFox>	yes nice trade kn	10:43
<KN-ES>	too much work
	thanks cFox
<KiwiRoo>	i got too many levels too close to each other around here... bouncing like anything....
<KN-ES>	good luck	10:44
	:)
<KiwiRoo>	yeah.. i'm sitting flat.. hheehe
<KN-ES>	s/l hit 57.50 ...... 0.00
<startrader>	only signifigant level is r2 level at 63.50. Minor retrace level at 58.
<NihabaAshi>	Exited ER2 Long @ 718.10 --> + 1.8	10:45
<KiwiRoo>	i have. 60, 58.25, 55.50 .....
<NihabaAshi>	I got my profit goal for the day :)	10:46
<KiwiRoo>	nice job niha.
<KN-ES>	Long ES @ 58.25
	2 con
<NihabaAshi>	Dropping my position size down to 1 contract only.
	Price action is crazy = Pin Ball Machine
	I had one trade today that as soon as my order got filled...
	In less than 2 seconds it was 9 ticks against me :(
<KiwiRoo>	that gotta suck....	10:47
<startrader>	Long ES @ 1357.50
<KN-ES>	out 57.25 .... -1.00	10:48
<cFox>	don't see much room for upside from here
<startrader>	Exited all ES Long @ 1356.50 --> - 1
<KiwiRoo>	I think it'd be two sided trading from here on.... unless break of HOD/LOD...	10:49
	under 55.50 and i have 53, 52,51....	10:50
<startrader>	Long ES @ 1355.50
<KiwiRoo>	actually 51.50
	big boys are selling...	10:51
<cFox>	ER2 was so strong this morning, once it drops, others will follow	10:53
<KiwiRoo>	LOD held...
	ER2 on its on there...	10:54
<cFox>	dow leads the downside
<KN-ES>	well. i think it wil fill up the gap at the end of day	10:55
<cFox>	ofcause posible.	10:56
<KN-ES>	they will get everyone on sell side and then
<KiwiRoo>	Long way up.. but yes... possible :P
	but given the type of day it is.... hard to do..
<KN-ES>	:)
<KiwiRoo>	under 51.. say goodnight.. hehehe
<KN-ES>	well, anything anytime
<KiwiRoo>	I'm trialing squawk box at trading the news.... not bad....	10:57
<KN-ES>	Long ES @ 55	10:58
	2 con
	out 1 at 56.25 ........ + 1.25	10:59
	s/l 55
	hit
	long 55	11:00
	2 con
	out 54	11:01
<szubaark>	expecting volatility spike soon, hopefully to downside, im Short	11:02
<KN-ES>	long 54.50 sm
<KiwiRoo>	it wants to go UP... getting rid of the sellers now maybe?
	check out double bottom.....	11:03
<szubaark>	exit stop moved to breakeven ES @ 1356.50 «« paper »»
<cwellsi>	719.5 was major resistance...may be hod
<szubaark>	tough conditions either if you Long or Short	11:04
<KiwiRoo>	YUP!
<KN-ES>	out 53.50	11:05
<Brutus>	Institute for Supply Management's January non-manufacturing index moves to a reading of 41.9, from December's 54.4. Data are released early due to a possible breach of information. Forecasters expected a reading of 52.5.
<KiwiRoo>	LOD needs to hold here.... or goneeeski...
	nope..
<szubaark>	ES busting thru Support
<KN-ES>	long 51.50
<KiwiRoo>	I'm shorting this......	11:06
<cwellsi>	will watch reaction around SPX 1350 area
<startrader>	between the weather moving into chicago and parade in ny, this could be a grueling day. Lot's of participants are focused elsewhere.	11:07
<KiwiRoo>	47 target..
	damn bounce.... out +1tick.. :(
<cwellsi>	GLOBAL SERVICES INDEX FALLS SHARPLY TO 45.8 IN JANUARY FROM 54.1 IN DECEMBER -JP MORGAN
<KN-ES>	3/4 out 52 .5	11:08
	3/5 out 52.75 ........... + 1.25	11:10
<cwellsi>	if 1350 breaks, looking for a low around 1336.5 area
<KN-ES>	s/l 50.50
<KiwiRoo>	lots of levels be4 that I think cwell.
<KN-ES>	not sure but feels like we have a bottom	11:11
<cwellsi>	well 1350 the important one imo
<KiwiRoo>	51.50 was my support... no one was willing to take it further just then....	11:12
<KN-ES>	:)
<KiwiRoo>	could be just reaction bounce :P
<szubaark>	its tough even watching this
<KiwiRoo>	under 51.50 and I'll short it again...	11:13
<startrader>	46 handle is 38% of of 1.22.07 low.	11:14
<KiwiRoo>	or looking for short at 55 areas....
<KN-ES>	1/5 out 53.75 ....... +3.25	11:15
<KiwiRoo>	nice going KN.
<KN-ES>	thanks KiwiRoo
<pdays>	Long ES @ 1352.75	11:19
<KN-ES>	now 50 or 60
<Andy>	Long ER2 @ 712.2 «« paper »»	11:20
<szubaark>	Covered all Short ES at 1354 --> + 2.5 «« paper »»	11:21
	Buys ES @ 1354 «« paper »»
<pdays>	Exited all ES Long @ 1353.75 --> + 1
<startrader>	Shorts ES @ 1354.50	11:22
<Andy>	Exited 1/2 ER2 Long @ 713.8 --> + 1.6 «« paper »»
<startrader>	was tryin to build a position up to 56.	11:23
	Shorts ES @ 1355 -> Add	11:24
<szubaark>	Exited all Long ES at 1354.25 --> + 0.25 «« paper »»	11:26
* szubaark	is now known as szubaark_away
<startrader>	Covered 1/2 ES Short @ 1354 --> + 1	11:27
<Andy>	Exited Remainder ER2 Long @ 713.3 --> + 1.1 «« paper »»	11:28
<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)
<startrader>	Covered 1/4 ES Short @ 1353.75 --> + 0.75
	Covered Remainder ES Short @ 1352 --> + 2.5	11:31
	Shorts ES @ 1355.50	11:33
	Shorts ES @ 1355.75 -> Add
	Shorts ES @ 1356.75	11:36
<KN-ES>	add 56.50
* codehead_afk	is now known as codehead	11:40
<startrader>	Covered 1/2 ES Short @ 1355 --> + 0.75	11:41
	Covered Remainder ES Short @ 1355. --> + 1.75	11:44
<NihabaAshi>	Long ER2 @ 715.70 -> small size	11:46
	1 only
<Pepe>	nice entry Niha	11:47
<startrader>	Shorts ES @ 1359
<NihabaAshi>	No chasing to :)
<KN-ES>	out 3/4 at 59.00 .......... + 2.50
<NihabaAshi>	Got my signal at 715.50
	If I chase more than 2 ticks...it gets documented as a "poor entry trade".	11:48
<KN-ES>	out 3/5 at 58.25 .......... + 2.25
<Pepe>	ok
<NihabaAshi>	Those trades don't get included in my normal trading stats.
<KN-ES>	+1.75
<NihabaAshi>	They get categoriezed in a different group of stats.
	So far, this breakout not holding its weight.	11:49
	Exited ER2 Long @ 715.80 --> + 0.1
<Pepe>	:(
<NihabaAshi>	It'll setup a re-entry...hopefully not too far above the original signal	11:50
	Long ER2 @ 716.30 -> small size
<startrader>	Shorts ES @ 1358.50 -> Add	11:51
<silo>	why exit initial and buy higher?
<NihabaAshi>	New signal for the buy
	Didn't matter where another pattern signal occurred...just as long as it wasn't too far away	11:52
<startrader>	Covered all ES Short @ 1356.25 --> + 5	11:53
<NihabaAshi>	At least the "fast paced" pin ball machine price action has been minimized for awhile now.	11:56
<silo>	oh wow niha.. you held through that dip?	11:57
<NihabaAshi>	Exited ER2 Long @ 716.50 --> + 0.2	11:59
<Andy>	Shorts ER2 @ 716.7 «« paper »»	12:00
<NihabaAshi>	Hopefully another signal appears becasue the price action has slowed nicely with normal tradable volatility
	Shorts ER2 @ 715.50 -> small size	12:01
<Andy>	Covered 1/3 ER2 Short @ 715.4 --> + 1.3 «« paper »»
<Pepe>	nice Andy	12:02
<szubaark_away>	Shorts ES @ 1356.25 «« paper »»
<Andy>	thanks Pepe	12:03
<NihabaAshi>	oh oh...pin ball machine	12:05
	Tough to get points today...	12:06
	Easy to get a few ticks :(
<Andy>	Covered 1/3 ER2 Short @ 715.9 --> + 0.8 «« paper »»	12:07
<NihabaAshi>	I have a support area down around 714.00	12:08
	Good profit target when there's no WRB's to get me out of a profitable trade	12:09
<szubaark_away>	followthru is non-existant...feels like im swing trading	12:11
<NihabaAshi>	WRB profit target right now
	May get lucky here and capture more
	Covered ER2 Short @ 714.00 --> + 1.5	12:12
<Pepe>	very nice NIha
<NihabaAshi>	Got 5 ticks more than the WRB pt1 level :)	12:13
<Andy>	Covered Remainder ER2 Short @ 714.3 --> + 2.4 «« paper »»
<Pepe>	very Nice Andy
<NihabaAshi>	agree
<Andy>	thanks, today i'm in the groove	12:14
	but now that i've said, it could get difficult...:)	12:15
	"said that"
<Nesi>	*DJ Fed's Lacker: Recent Econ Data Have Raised Downside Risks	12:16
	(Dow Jones 02/05 12:15:06)
	DJ Fed's Lacker: Uncomfortable With Inflation Picture
	(Dow Jones 02/05 12:15:05)
	*DJ Fed's Lacker Sees Possibility Of Mild Recession
	(Dow Jones 02/05 12:15:02)
	DJ Fed's Lacker: Further Easing May Be Warranted	12:17
	(Dow Jones 02/05 12:15:00)
	Fed's Lacker Sees `Sluggish' Econ Growth For 6 Mos
	(Dow Jones 02/05 12:17:36)
	ECB's Noyer: No SocGen-Type Risks Exist In Other Banks	12:18
	(Dow Jones 02/05 12:17:47)
	Fed's Lacker Expects Job Growth To Be `Lethargic'
<szubaark_away>	exit stop moved to breakeven ES @ 1356.25 «« paper »»	12:19
<Nesi>	DJ Fed's Lacker: Further Easing May Be Warranted	12:22
	(Dow Jones 02/05 12:22:15)
<NihabaAshi>	Shorts ER2 @ 713.80 -> small size	12:23
	missed the actual entry @ 714.10	12:24
	tighten the stop	12:25
	Dark Hammer Line :(	12:27
<szubaark_away>	Covered all Short ES at 1353.75 --> + 2.5 «« paper »»	12:28
	:(.. too early	12:29
<NihabaAshi>	Covered ER2 Short @ 712.90 --> + 0.9
<cwellsi>	1350 area test again
<szubaark_away>	Buys ES @ 1352 «« paper »»	12:30
<NihabaAshi>	Lunch time and a snow break...we have our 9th big snow storm of the winter.
	Took two days to dig out last one on Friday :(
<szubaark_away>	exit stop moved to breakeven ES @ 1352 «« paper »»	12:31
	Exited all Long ES at 1352 --> 0 «« paper »»	12:32
	Shorts ES @ 1351.50 «« paper »»	12:34
	Covered all Short ES at 1353.25 --> - 1.75 «« paper »»	12:35
	Buys ES @ 1353.25 «« paper »»
	Exited all Long ES at 1349.50 --> - 3.75 «« paper »»	12:36
	Shorts ES @ 1349.50 «« paper »»
<KN-ES>	Long ES @ 49	12:37
	sz
	Exited 1/2 ES Long @ 50.25 --> + 1.25	12:39
<KiwiRoo>	that was a good stop hunting then...	12:41
<szubaark_away>	Covered all Short ES at 1351.25 --> - 1.75 «« paper »»	12:42
	Buys ES @ 1351.25 «« paper »»
<KN-ES>	Exited 1/4 ES Long @ 51.25 --> + 2.25
	s/l 48.75
<cFox>	Can anyone help me with a mIRC setting?	12:46
	remember a option setting to highlight a line
	don't seem to be able to locate the it
<KiwiRoo>	you have to click one of the bar.	12:47
	address book
	just under Tools.	12:48
	and highlight is on the last tab.
<cFox>	Tools under main menu?	12:50
<KiwiRoo>	it just an icon.
	you mean.. highlight words right?
	just go to Tools - address book.
<cFox>	a message line
<nqlove>	Dexpot has hidden my NT	12:51
<cFox>	got it, thank you KiwiRoo
<KiwiRoo>	np.
<Nesi>	WSJ: Banks In Early Talks To Shore Up Bond Insurer FGIC	12:54
	(Dow Jones 02/05 12:54:08)
<KN-ES>	add 53
	out 53 52 ........ -1.00	12:59
	out 49.00 52 ............ +3.00	13:00
	long 53	13:01
	out 3/4 53 54.25 ............ +1.25	13:02
	s/l 50.75	13:04
	50.50 long	13:08
	out 49.50	13:09
	long 48.75	13:10
	s/l 45.00
	3/4 out 51 ............. +2.25	13:22
<pat255>	vn kn...	13:23
<KN-ES>	s/l 47.75
<pat255>	man o man take L heer was right..
<Nesi>	DJ Fed's Lacker: Tax Rebates Could Provide Econ Boost In Late 08	13:24
	(Dow Jones 02/05 13:23:59)
<KN-ES>	thansk Pat255	13:25
	thanks	13:26
	:)
<pat255>	kn what tf u use for tades?
	N uses 1 2 5 mins star uses 1 hr & 15 mins
	i need to c the setups right..dang miss them
<KN-ES>	:)	13:27
<pat255>	when u have a moment .
<KN-ES>	out 48.75
	well, today, I am just following the volume
	500 volume chart helps
<pat255>	vol chart?	13:28
<KN-ES>	yes
<pat255>	kty
<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)
<KN-ES>	since es has no direction voulume can save giving an early direction of the short, very short move	13:29
	long 48.75	13:30
	out 7/8 49.75 +1.00	13:31
	s/l 48
	very tight s/l
	out 48 last con -0.75	13:33
	long 47.50 1 con
	out 46.50	13:34
<pat255>	hmm i gotta use 1 pt stop too...
<KN-ES>	we dont have a choice
<pat255>	y agree
<KN-ES>	long 46.75	13:35
<cFox>	should have support here
<KN-ES>	small lot tight s/l early exit with most of the lots
	brb	13:36
<NihabaAshi>	I'm looking for ER2 to try and find some support here.	13:37
<pat255>	seems every move up is shorted	13:38
<Nesi>	DJ Fed's Lacker:Risks Of Recession Have Risen Lately
	(Dow Jones 02/05 13:38:05)
<pat255>	they know it but wont admit it
<Nesi>	J Fed's Lacker: Plenty of Liquidity in Bank Market
	(Dow Jones 02/05 13:38:32)
<cwellsi>	now that 1350 is broken, more downsiide to come	13:39
<pat255>	y looks that way..
<cwellsi>	but expect some retests
<KiwiRoo>	down wedge about to break on ES.	13:42
	if not then... short again.	13:43
<NihabaAshi>	Shorts ER2 @ 708.70 -> small size	13:44
<startrader>	Long ES @ 1346.00
<KiwiRoo>	this area is a struggle...	13:45
	too many numbers...
<Nesi>	DJ =WSJ: Fed's Bernanke To Testify On Econ Feb 14	13:46
	(Dow Jones 02/05 13:45:53)
<NihabaAshi>	Covered ER2 Short @ 708.30 --> + 0.4
	geeesh :(
<KN-ES>	there are some huge buy orders sitting in this area	13:47
<KiwiRoo>	watch for trend line break to the upside.
	gonna be big.
<NihabaAshi>	Long ER2 @ 709.80 -> small size
<startrader>	Exited 1/2 ES Long @ 1348 --> + 2
<KN-ES>	lets see who win	13:48
	should go down
<KiwiRoo>	nope.. can't do it..
<startrader>	Exited Remainder ES Long @ 1356 --> + 10
	46
<cwellsi>	looking good for 1336.5 target
<NihabaAshi>	volatility spike
	trying hard to do a volatility breakout
<KiwiRoo>	both trend lines held... up/down.	13:49
	still a wedge....
<startrader>	Long ES @ 1345	13:50
<NihabaAshi>	Exited ER2 Long @ 708.10 --> - 1.7
	Reverse and Enter Short ER2 @ 708.10
<KiwiRoo>	holly monkey........	13:52
<NihabaAshi>	back to back trades not doing what I expected...
	There's that feeling of being "lost in the forrest".
	:(
<KiwiRoo>	they're not sure which way to break out..
<NihabaAshi>	volatility contracting too...	13:53
	Easy position reversal if I'm wrong...
	Nice profit if I'm right and it pops downward instead of upwards.
<startrader>	Exited all ES Long @ 1345.50 --> + 0.5
<KiwiRoo>	i'm flat and waiting for confirmation..	13:54
<NihabaAshi>	Oil seemes to want to go down
<startrader>	Long ES @ 1345
<NihabaAshi>	Gold wants to go up
	:(
<KiwiRoo>	there go.. .. buy on pull back.
<KN-ES>	finally. i guess	13:55
<NihabaAshi>	Covered ER2 Short @ 708.50 --> - 0.4
	Reverse and Enter Long ER2 @ 708.50
<cwellsi>	no washout selling so expect more
<NihabaAshi>	Pin Ball Machine has returned again :(
<KN-ES>	fundamentals against sentiment
<KiwiRoo>	AD/DC is 1825... wow.....	13:56
	trin 2.22.....
	@@'
<startrader>	just looked at big picture, 45 is 38% of low to high including overnight, 1255-1400
<NihabaAshi>	Lost in the Forrest :(	13:57
<cwellsi>	big picture would be oct high/jan low...fib that	13:58
<KiwiRoo>	from the look of PA. I seems like they're trying to do a spring board bounce (IMO)...
<NihabaAshi>	sneaky little booger	13:59
<KiwiRoo>	they're trying hard... sellers hasn't dried up yet.......
<NihabaAshi>	Exited ER2 Long @ 708.60 --> + 0.1
	Be back later...more snow to plow again.	14:00
<cwellsi>	S3 1345.75
	2pm lows	14:01
<KN-ES>	long 43
<startrader>	Long ES @ 1343.50
<KN-ES>	out 7/8 42.25 +1.25	14:03
	s/l 43
<KiwiRoo>	I wish they can pull this thing back to 51 again so I can enter short.....
<KN-ES>	46 looks like the next LH	14:04
<KiwiRoo>	yeah. i have 46,47 above this.
	42.50 suppost as mentioned earlier.
<KN-ES>	44.25 was the exit	14:05
	s/l hit 43
<KiwiRoo>	under that i got 35.50.. woo long way down...
<KN-ES>	short 46	14:07
<startrader>	Exited 1/2 ES Long @ 1346.25 --> + 2.75	14:08
<robert1>	nice star
<startrader>	ty
<pat255>	vn star
<Andy>	kudos, star
<KiwiRoo>	nice trade there.
<KN-ES>	out 47	14:09
<startrader>	was looking at the close on 1.22.07 at 42 to give a bounce.
	Exited all ES Long @ 1347.75 --> + 4.25	14:10
<pat255>	vvn	14:11
<KiwiRoo>	awesome...
<KN-ES>	short 47
	out 47 doesnt look ok	14:12
<KiwiRoo>	Italian Parliament to be dissolved on Wed .. wow..
<KN-ES>	short 47	14:13
	s/l 48
	7/8 out 46.00 +1.00	14:15
<Andy>	Long ER2 @ 707.7 «« paper »»	14:18
<KN-ES>	add 46 1 con
	ht s/l 48	14:19
<Andy>	Exited 2/3 ER2 Long @ 709.2 --> + 1.5 «« paper »»
<KN-ES>	srt 47.50
	out 48.50	14:20
<Pepe>	NIce trading Andy	14:26
<Andy>	thanks Pepe - in the learning mode, just like you	14:27
<Pepe>	ok :)
<Andy>	Exited Remainder ER2 Long @ 710.0 --> + 2.3 «« paper »»	14:28
<silo>	andy doing well	14:30
	:P
<Andy>	thanks, silo
<KiwiRoo>	This area is real important...	14:36
	Short must hold or they'll lose control..
	Here come the Calvary	14:38
<pat255>	yup	14:39
<KiwiRoo>	they must keep going here..
	other sellers will jump on them.
	there ya go.... lol.
<Andy>	Shorts ER2 @ 711.1 «« paper »»	14:40
<KiwiRoo>	I think they gonna keep pushing till they poke above 53.... imo.
	guess not... ..	14:41
<Andy>	Covered 2/3 ER2 Short @ 710.4 --> + 0.7 «« paper »»	14:42
	Covered Remainder ER2 Short @ 709.3 --> + 1.8 «« paper »»	14:44
<startrader>	Long ES @ 1347.50	14:46
	Exited all ES Long @ 1348.25 --> + 0.75	14:49
<szubaark_away>	Exited all Long ES at 1346.75 --> - 4.5 «« paper »»	14:52
<silo>	true	14:54
<codehead>	YM held the .382 retrace level of the pop off the bottom, do far	14:56
	long YM 12340 <paper>	14:57
	stop 12329 <paper>
	hm, struggling	14:58
	lost it
	stopped -11 YM <paper>	14:59
<NihabaAshi>	Shorts ER2 @ 707.40 -> small size	15:00
	Just got back	15:01
<KiwiRoo>	OI YOI yeii.... are we going to test the low again....	15:02
<NihabaAshi>	Covered ER2 Short @ 706.90 --> + 0.5
	volatility contracting	15:03
<KiwiRoo>	it will get wild at the LOD. :P
<codehead>	long YM 12310 <paper>	15:04
	stop 12299 <paper>
<cwellsi>	SPX retested 1350 establishing it as resistance	15:05
<codehead>	just a dbl bottom try
<KiwiRoo>	reaction bounce... watch to go back though..
	this tape is too slow.. zz zZ Z zZ	15:06
<NihabaAshi>	shallow volatility breakout
	Long ER2 @ 706.90 -> small size
	I got Oil on my side but not Gold :(	15:07
	I need both.
<KiwiRoo>	- S&P Cuts 26 ratings on 4 US CDOs of ABS, affecting $4.327B -	15:08
<NihabaAshi>	more contraction in the volatility...
	Something is going to pop soon	15:09
	Hopefully up and not down
	Exited ER2 Long @ 706.30 --> - 0.6
	Reverse and Enter Short ER2 @ 706.30
<KiwiRoo>	lower low....
<startrader>	Long ES @ 1342.50
<codehead>	stopped -11 YM <paper>	15:11
<KiwiRoo>	this is gone... look at the sellers...coming in.
<codehead>	messed, was looking for +15, didn't see that it would have filled
<KiwiRoo>	badluck mate.
<NihabaAshi>	Covered ER2 Short @ 704.90 --> + 1.4	15:13
<KiwiRoo>	what the hell was that bounce about... hmm...	15:15
<codehead>	selling went to extremes
<startrader>	Exited all ES Long @ 1343.75 --> + 1.25
<codehead>	friend has a fib-related turn time coming up in 14 mins, see if it pans out	15:16
	no, i think it's right now...
	potential turn time	15:17
	meaning up of course
	2:15 central
<NihabaAshi>	volatility contracting
<codehead>	long 12307 <paper> YM	15:18
	just to track the viability of the turn time
<Andy>	Long ER2 @ 705.3 «« paper »»	15:19
	only got half on
<NihabaAshi>	volatility spike
	lets see if it can convert to a volatility breakout
<codehead>	exit half YM +20 <paper>	15:20
<Andy>	Exited 1/2 ER2 Long @ 707.1 --> + 1.8 «« paper »»
<codehead>	raise stop b/e on remainder <paper>
<NihabaAshi>	volatility breakout	15:21
	Shorts ER2 @ 706.70 -> small size	15:22
<codehead>	stopped flat on reaminder <paper>	15:23
<Andy>	Exited Remainder ER2 Long @ 705.8 --> + 0.5 «« paper »»
<NihabaAshi>	Covered ER2 Short @ 705.40 --> + 1.3
<startrader>	this does not look good.	15:24
<NihabaAshi>	Gold and Oil trying to spike upwards...weird.	15:25
<startrader>	Shorts ES @ 1343
<NihabaAshi>	come on...a little lower	15:26
<KiwiRoo>	gold+oil up = Stock down correct?
<NihabaAshi>	Gold+Oil+Futures in the same direction = Milk the trade :)	15:27
<rickf>	weird day
<NihabaAshi>	Back to Back Hammer lines in the DAX being threaten right now.
<startrader>	Covered 1/2 ES Short @ 1340 --> + 3	15:28
<NihabaAshi>	Long ER2 @ 704.30 -> small size
<KiwiRoo>	hit some sell stop just then.	15:29
	wow... wtf..
<NihabaAshi>	Pin ball machine price action
<KiwiRoo>	about 6-7 or more 500 lots contracts... hmm..	15:30
<startrader>	60 min close looks bad here.
<NihabaAshi>	ER2 missing the boat right now because the others are trying hard to leave the dock yard
<Andy>	dax is in the water	15:31
<startrader>	Shorts ES @ 1343.75	15:33
<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)	15:34
<Andy>	should hit 706	15:35
	er
<rickf>	long es 1345.50 paper
<NihabaAshi>	Exited ER2 Long @ 706.70 --> + 2.4	15:36
	Finally able to put together consecutive trades for points instead of a few ticks.	15:37
WRB Analysis	Learn More
<KiwiRoo>	good work there..
<rickf>	exit market -- no idea on price. oxps data just died (paper)
	1346-ish	15:38
<NihabaAshi>	That was another goal I had today that I was able to accomplish...
	Three consecutive winners that produce points and not a few ticks.
<KiwiRoo>	<@NihabaAshi> Gold+Oil+Futures in the same direction = Milk the trade :) Isn't Gold travel opposite direction to stock?	15:39
<NihabaAshi>	I don't know about stocks in general but not true every minute of the intraday.	15:40
	I want them to move together when I'm at a profit...
	When they do move together (Gold, Oil and Futures)...	15:41
	I can capture a bigger profit.
	When they don't move together...
	That's when you see me sometimes say the following...
	"ER2 is on its own".
	Oil and Gold trying hard to go lower	15:42
<startrader>	Covered 1/2 ES Short @ 1399 --> - 55.25	15:43
	1339
<NihabaAshi>	support area
	for ER2
	It's going to need help from Oil and Gold to keep from dropping below the support	15:44
	Long ER2 @ 705.10 -> small size
* cwellsi	covers ES from last week 1339.5 +54.75, +34, +21.25, +12
<startrader>	Covered Remainder ES Short @ 1341 --> + 2.75	15:45
<NihabaAshi>	I now have help from Gold and Oil...
	Lets see if I can exit at a WRB
	Exited Remainder ER2 Long @ 706.20 --> + 1.1	15:46
	caught a WRB pt1 level
	Oil and Gold dropping again
	In fall...Oil, Gold and the DAX just put in a Dark WRB	15:47
	Be careful...that 4pm est rush hour traffic can start anytime soon.	15:49
<KiwiRoo>	got cha Niha... thanks for explaining..... was watching this tanker go down...	15:50
<NihabaAshi>	volatility spike	15:52
	Shorts ER2 @ 703.10 -> small size	15:53
	Covered ER2 Short @ 703.00 --> + 0.1	15:54
<startrader>	Long ES @ 1339.25
	I see some support at 39.25 on the 60 min
<NihabaAshi>	:(
	I got picked pocketed :(	15:55
<startrader>	big snow heading into Chicago, will keep things unusual tomorrow.	15:58
<Brutus>	http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={c12e2 91d-3f9a-4217-9ac0-e3132d40f73f}	15:59
<KiwiRoo>	making new lowsss....gogogo.
<codehead>	long Ym 12261 <paper>
<startrader>	Exited all ES Long @ 1338 --> - 1.25
<Brutus>	thurs ECB interest rate decision
<KiwiRoo>	huge sellers....	16:00
	huge bid though.. will go through i guess..
* sep34	is now known as sep34_away
<KiwiRoo>	wow wow..
<codehead>	exit YM +20 <paper>
<cwellsi>	close enough to the 1336.5 target :}	16:01
* sep34_away	is now known as sep34
<codehead>	figgered they wanted to close cash lod, then a bounce
<startrader>	there comes the short covering I was looking for,
* sep34	is now known as sep34_away	16:02
<startrader>	gn all.
<Andy>	gn st
<Brutus>	============ U.S. MARKETS ACTION ===========
	DJIA down 356.13 points to 12279.03
	NASDAQ down 69.50 points to 2313.35
	S&P 500 down 41.22 points to 1339.54
	10-year T-note up 86/32 at 105 15/32 yield 3.580
	NYMEX Spot Crude down $1.70 at $88.32/bbl at close
	Dollar/Euro down 0.0180 at 1.4640
	http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={883e3 87d-8ea7-4979-8df9-d6eceb446165}
<KiwiRoo>	Lots of report just came out beating estimate.	16:03
<cwellsi>	lol SPX 1336.73
<NihabaAshi>	#FuturesTrades Poll -> What futures broker/platform do you prefer? Thoughts, comments, recommendations will be collected, anonymized and made available for all next week both on the web and in the TSL forums. Please send responses to rickf (#FuturesTrades member) at rickf@attrition.org
<rickf>	gn	16:04
<cwellsi>	[11:10] <cwellsi> if 1350 breaks, looking for a low around 1336.5 area	16:05
<Brutus>	gn all	16:07
<cFox>	nice call
	how did come up with that?
	did you
<cwellsi>	it's a magnet just like DOW 12266	16:09
<cFox>	yes but seems like magic to me, good call anyway	16:10
<cwellsi>	thanks :))	16:11
<NihabaAshi>	#FuturesTrades Purpose -> No gurus, no head traders...you're here to document your own trades and thoughts as you traverse from one trade to the next trade because it provides critical information you cannot get from your broker statements (real money or simulator)...use this room as your trade journal.
	Take care all and see all tomorrow	16:12
* NihabaAshi	is now known as NihabaAshi_away
<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)	17:37
* DisconnectedSession	Close: Tue Feb 05 18:12:58 2008	18:12
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