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#FuturesTrades February 7th Wednesday 2007 Trade Log

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Click here for the instructions on gaining access to #FuturesTrades.

In addition, trades posted by members of #FuturesTrades in the below trade post chat log are by traders that do not have access to TheStrategyLab.com strategies except for NihabaAshi.

Fee-based clients of TheStrategyLab.com strategies use the private IRC rooms called #TheStrategyLab and #SwingTradingTSL.

Further, you'll find below the chat room time stamped text log of realtime trades (real money and simulator) that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est). 

Also, below NihabaAshi's trading blog like comments, you can read the time stamped trades (prices, entries, exits et cetera) and market discussions that sometimes contains trading tips or insights that are more useful than what you will see at any other futures blog or chat room.

Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary on a few occasions as time permits and such will contain trading tips that should help your trading as I attempt to sum up my thoughts for the trading day.

 

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ER2 EuroFX EC
+15.00 +0.0000
$1,500.00 $0.00

Adding to a Position

Profit/Loss Statement

Volatility has been horrible for the past few trading days and I suspect it will continue as such until the market begins trading in the G7 (G8) Meetings that starts on Friday.

Someone once asked me what prompts me to ADD to a winning position or a losing position.

I replied when the price enters a key s/r zone without hitting my initial stop nor trailing stop...something that should be part of any trader's contingency plan. 

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 February...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.com

Note: 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.

  

  #FuturesTrades purpose, benefits and access info...click here.
Session Start: Wed Feb 07 09:28:51 2007Session Ident: #futurestrades
* Now talking in #futurestrades09:28
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<PapaJon> gm all09:29
<pat255> hi papa09:31
<NihabaAshi>  Long ER2 @ 814.40 -> large size 09:33

Exited ER2 Long @ 813.40 --> - 1

Reverse and Enter Short ER2 @ 813.40

Covered 1/2 ER2 Short @ 812.90 --> + 0.5 09:41

Covered Remainder ER2 Short @ 812.90 --> + 0.5

Long ER2 @ 812.80 -> large size 09:43

Long ER2 @ 812.70 -> Add 09:46

Long ER2 @ 812.20 -> Add 09:48
<werner> gm all09:53
<pat12> just chop...sigh09:55
<NihabaAshi> Tough to be patient especially with that 10am est minor FED speech.09:56
<AmazingJason>  Long ER2 @ 811.90 -> large size
<NihabaAshi>  Long ER2 @ 811.90 -> Add 09:58
<szubaark>  Buys NQ @ 1806 «« paper »»
<NihabaAshi>  Exited 1/2 ER2 Long @ 812.60 --> + 0.7 10:00
<AmazingJason>  Exited all ER2 Long @ 812.80 --> + 25.7

should be +0.910:01
<pat12> vn jason
<RussellDaytrade> makes you think about the merits of longer term holding periods. :)10:02
<szubaark> Continued chop from Monday10:05
<pat12> yes szu
<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)10:06
<szubaark>  Exited all Long NQ at 1809.50 --> + 3.5 «« paper »» 10:13
<NihabaAshi>  Exited ER2 Long @ 814.30 --> + 1.5 10:14
Holding 4 contracts
I caught that WRB almost at its peak for an exit...10:15
Good enough to get me profitable for the day.
<pat12> yup...
<NihabaAshi> Will dramatically reduce my size for the remainder of the trading day after I close this position.
Too tough of a trading day already...now willing to sweat anymore.10:16
now = not
<ItalianSharp> wow niha, great patience there10:19
<NihabaAshi>  Exited ER2 Long @ 814.60 --> + 1.8
Holding 3 contracts
I'm slowly getting Bearish here...10:20
Hopefully I can get lucky and catch a higher exit before I get too bearish and dump my remainders.
Exited ER2 Long @ 814.90 --> + 2.1 10:22
Holding 2 contracts
Exited ER2 Long @ 815.10 --> + 2.3 10:23
Holding 1 contract
<pat12> vvn
<RussellDaytrade>  Shorts ER2 @ 815.3 «« paper »» 10:25
<NihabaAshi>  Exited Remainder ER2 Long @ 815.60 --> + 2.8

Lucky exits on those last 4 contracts.10:26
   
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<ItalianSharp> lucky or not lucky, you are a hell of a trader niha...congrats
<NihabaAshi> I'm now bearish but if the markets move a little higher...

I will go back to NEUTRAL bias.
<pat12> emini es is not participate ?10:33
<NihabaAshi>  Shorts ER2 @ 815.40 -> small size 10:35

1 contract only
<RussellDaytrade>  Shorts ER2 @ 815.9 -> Add «« paper »» 10:37
<NihabaAshi>  Covered ER2 Short @ 816.10 --> - 0.7 10:38
<venedom> gm10:39
* codehead_afk is now known as codehead10:40
<ItalianSharp> it looks like today is slowly turning into one of those creepy uptrend days10:42
<RussellDaytrade> its a stilt, when combined with yesterdays action10:43

Shorts ER2 @ 817.3 -> Add «« paper »» 10:44
<NihabaAshi> Looks like the consecutive prior tight range days setup nicely today's price surge on volatility spike.
<RussellDaytrade> short 3 at ap 816.210:45
<ItalianSharp> RD: what's a stilt?
<NihabaAshi> Today is a good example why it pays to be attentive to "consecutive range days" on declining volatility.

It implies a be price surge is coming (up or down).
<RussellDaytrade> IS, i define it as a rapid, relatively, and uninterupted, once again relatively, price rise10:46
<ItalianSharp> thanks RD10:47
<RussellDaytrade> u bet IS.
how you come out on the super bowl? colts won pulling away.10:48
<ItalianSharp> RD: yep, i won some nice cash thanks to indy. I hedged off a little betting on Chicago ML, but after that quick kickoff return TD by the Bears in the first 15 secs of the game, I checked live betting odds and Indy was paying -120 to win the game...that means if you laid 120 on Indy down 7 with the whole game to go and the Colts won the game, you'd win 10010:53
<NihabaAshi>  Shorts ER2 @ 817.00 -> small size 10:54
Geesh...almost every trade today as soon as I enter...it immediately moves about 3 ticks against me :(
<ItalianSharp> niha, ER is testing your patience today
<NihabaAshi> Not anymore...I'm now at a position size that will keep about 90% of my profits even if I get consecutive losers.10:55
<RussellDaytrade> t = 814.5 by 11:29, hopefully.10:57

sometimes, on days like this, the pa exhibits a 'fair amount of hang-time'. may be up here for hours before retreating, and may even go higher before retreating, on a relative basis, relative to its own usual pa.11:04
<pat12> back to office ...ty guys11:05
<NihabaAshi>  Covered ER2 Short @ 817.90 --> - 0.9 11:08

Reverse and Enter Long ER2 @ 817.90

:(

Got a nice position reversal signal but there's not much potential in it to produce 3-5 ticks of profit :(11:09

Wiser choice would have been to just close the position and stay on the sidelines.
<RussellDaytrade> this retest would usually provide a secondary entry short, and may be just that, but today, as staed in prior post, pa may have 'unusual' hangtime. gotta take the bad with the good, i guess.11:12
<venedom>  Shorts ER2 @ 817.60 -> small size 11:13
<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)11:18
<NihabaAshi> Volatility dropping fast...expecting a volatility spike here soon.11:19

Hopefully not downwards.
<venedom>  Covered all ER2 Short @ 817.10 --> + 0.5
<NihabaAshi>  Exited ER2 Long @ 817.00 --> - 0.9

That's one of those upside volatility spikes that leaves the market breadth price action in the dust...scrambling to catch up.11:41

Shorts ER2 @ 817.50 -> small size 11:43

Went two contracts when I only wanted one contract :(

Last trade of the morning after a position size error like that.

Covered all ER2 Short @ 817.30 --> + 0.2 11:48

Too bad the position size entry error had me in the take a quick profit mode as soon as I get it :(

I'm bearish since the 817.90 price area.11:49

Spouse just reminded me I have a dental check up on that oral surgery I recently had...11:50

Will be leaving around 1:30pm est.
<RussellDaytrade>  Covered all ER2 Short @ 814.9 --> + 2.8 «« paper »» 14:38

thanks ole tiger! hope you're havin a good day too!14:39

may be more in it, but, under the circumstances, will accept my gain and be happy.14:40

i'd say i was fairly accurate on that hangtime prognistication (another 5 syllable utterance). :)14:41
  
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<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)14:51
<jperl> hope you all had a good day today.....here are my trades....14:55

http://charts.dacharts.com/2007-02-07/JP ERL_0115.png
<RussellDaytrade> wow, you were busy as a beaver JP. another day of scalping type trades for you today? looks more positive than negative in there, looks like you came out on top again. ;)14:56
<jperl> yes I did14:57
<RussellDaytrade> wtrg.
wtg.
<jperl> I've been scalping about every 15 minutes
<venedom> C U TOMORROW15:19
* NihabaAshi_away is now known as NihabaAshi15:39
<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)16:03
<NihabaAshi> Take care all and see all tomorrow.16:31
* DisconnectedSession Close: Wed Feb 07 16:31:49 2007
  
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TheStrategyLab.com

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