#FuturesTrades February 9th Friday 2007 Trade Log
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ER2 EuroFX EC +12.80 +0.0000 $1,280.00 $0.00 Trading Perspective
The day begin with horrible low volatility but I was very suspicious about the volatility due to the drop in Eurex much earlier in the overnight trading hours (U.S. time) along with it being the day that the G7 meetings started.
Simply, volatility would show up but I just didn't know when.
Unfortunately I had gone into profit protection mode prior to the appearance of volatility.
Simply, my position size was too small to make big profits when the geopolitical event like a G7 (G8) meeting showed its impact on the markets.
Yet, as the log below shows and the PnL statement above shows...it was still a good trading day for me.
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.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: Fri Feb 09 09:30:35 2007Session Ident: #futurestrades * Now talking in #futurestrades 09:30 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <pat255> gm all <RussellDaytrade> i thought it would crack yesterday, but it held, and, it seemed to firm up,like its got support under it. leads me to think it may go into a dynamic move up, perhaps stilt-like in trajectory. <pat255> ty niha will check the arcves 09:31 <NihabaAshi> I haven't had time to update for a few days...will update them tonight to make them current. 09:32 <NihabaAshi> 1:00 PM ET : Dallas Federal Reserve Bank President Richard Fisher to speak about the U.S. economic outlook to the Rotary Club, in Dallas, Texas. Audience Q&A expected. <pat255> k.. <venedom> gm 09:33 <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> Long ER2 @ 819.60 -> large size 09:34 Exited 1/3 ER2 Long @ 820.10 --> + 0.5 09:36 <eminitrader> Shorts ES @ 1456.75 09:37 <NihabaAshi> Exited 1/3 ER2 Long @ 820.20 --> + 0.6 <szubaark_away> Shorts NQ @ 1826.50 «« paper »» <NihabaAshi> Exited Remainder ER2 Long @ 819.70 --> + 0.1 09:38 I was too slow in my analysis to reverse that into a Short position :( 09:39 <szubaark_away> Covered all Short NQ at 1824.25 --> + 2.25 «« paper »» 09:43 <eminitrader> Covered 1/3 ES Short @ 1455.75 --> + 1 <NihabaAshi> By the way, volatility is very LOW so be careful. 09:46 I'm not looking for my normal WRB pt level profit targets. Instead, due to the low volatility and lack of key economic reports...I'm taking quick profits. <ItalianSharp> smart thing to do niha...price action is not reliable thus far 09:47 <NihabaAshi> 3 to 8 tick profits. Shorts ER2 @ 818.50 -> small size 09:48 Covered 2/3 ER2 Short @ 818.10 --> + 0.4 09:49 <eminitrader> Covered 1/3 ES Short @ 1454.75 --> + 2 <szubaark_away> go emini <NihabaAshi> Covered Remainder ER2 Short @ 818.20 --> + 0.3 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) <eminitrader> thx szu <NihabaAshi> Long ER2 @ 818.70 -> small size 09:51 Exited 3/4 ER2 Long @ 819.20 --> + 0.5 09:54 Exited Remainder ER2 Long @ 818.90 --> + 0.2 <asuni> crazy market 09:56 <eminitrader> Covered Remainder ES Short @ 1454.25 --> + 2.5 10:01 <pat255> vn emini <eminitrader> thx pat <pat255> Elite 10:02 <eminitrader> done for the day week ...just watching <szubaark_away> Buys NQ @ 1821.75 «« paper »» <RussellDaytrade> yeah, right. :) 10:03 <eminitrader> serious ...maybe sigle contracts only :)) <szubaark_away> exit stop set NQ @ 1821.75 «« paper »» 10:06 taking too long here :( 10:07 <RussellDaytrade> hey, EM, was i / am i incorrect in my earlier analysis of firmness in mkt? in the space of a half hour, it now seems to have taken a turn. my usual strong sense of one direction or anotrher is not as clear today. you gotta read on it? or plan A /plan B? 10:08 <eminitrader> simply - if it breks 820.60 ..new highs...or 814.40 is new lows... 10:09 <RussellDaytrade> based on yesterdays pa, i began to think late in the day we will see 825 before seeing 815 again. 10:10 <eminitrader> mean brrk out day or brek down day <szubaark_away> Exited all Long NQ at 1821.75 --> 0 «« paper »» <RussellDaytrade> ok, thx. btw, yesterday was the single most tighest daily range to date since the first of year, and likely some time before. 10:11 <eminitrader> thats one of the reasons ..given the set-up ...i expect a b/o or b/d 10:12 <RussellDaytrade> ok. ain't doing much today, it isn't up enough for me to sell, or down enough to buy, for my liking, though if had to do one or another, still dfaulting to selling up spikes, whenever they may occur. just waiting. 10:14 <NihabaAshi> This volatility is horrible...I'm going to stay at small size only and looking for quick profits only. 10:15 <AmazingJason> Shorts ER2 @ 818.50 10:18 <RussellDaytrade> i think fortress open at 35 10:20 <pat255> back to work..ty all...office 10:22 <szubaark_away> not worth trading this for me.. too stressful watching every tick drip 10:23 <AmazingJason> Covered all ER2 Short @ 818.30 --> + 0.2 10:24 damn should have kept it 10:25 jesus could have made a couple more ticks :/ 10:26 oh well looks like i was right, just not patient enough... 10:27 <RussellDaytrade> 35, right on the button 10:29 <NihabaAshi> Long ER2 @ 817.20 -> small size 10:30 * codehead_afk is now known as codehead 10:31 <NihabaAshi> Exited all ER2 Long @ 817.40 --> + 0.2 10:33 Couldn't get that extra 2 ticks :( <ItalianSharp> does anyone know when the G8 meeting kicks off today? 10:34 <NihabaAshi> I know the G7 meeting started today. 10:35 Is the G8 and G7 the same thing ? <ItalianSharp> yes...i thought it's 8 nations now...well, whatever 10:36 <NihabaAshi> :) <ItalianSharp> i know the G7-8 members will be talking about currencies and forex 10:37 <RussellDaytrade> the outcome of meeting may be that Japan talks up their rates and pressures the carry trade traders. 10:44 <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) 10:45 <RussellDaytrade> may result in lower equitiy prices after the meeting come next week, if that were to occur. 10:51 <venedom> Shorts ER2 @ 817.00 10:54 <AmazingJason> wish i kept my short, looks more and more like a down day the spot that niha wanted to reverse earlier in the morning would have been the best spot 10:55 <venedom> exit stop moved to breakeven ER2 @ 817 10:56 Covered all ER2 Short @ 816.60 --> + 0.4 11:01 <RussellDaytrade> Long ER2 @ 816.8 «« paper »» 11:02 i think it may go up over next hour or so 11:04 <venedom> lunch time here c u later good weekend 11:07 <NihabaAshi> Long ER2 @ 817.00 -> small size 11:17 :( 11:18 Exited ER2 Long @ 816.50 --> - 0.5 11:19 Reverse and Enter Short ER2 @ 816.50 Added a few contracts on the position reversal Covered 2/3 ER2 Short @ 815.90 --> + 0.6 11:20 Got lucky and caught a WRB pt1 exit Covered Remainder ER2 Short @ 816.30 --> + 0.2 Long ER2 @ 816.40 -> small size 11:22 Long ER2 @ 816.20 -> Add 11:28 Long ER2 @ 816.10 -> Add 11:29 <RussellDaytrade> Exited all ER2 Long @ 816.2 --> - 0.6 «« paper »» 11:33 <eminitrader> mrkt certainly giving a reminder thats its a friday 11:35 <NihabaAshi> Exited 1/2 ER2 Long @ 816.50 --> + 0.4 11:37 Exited ER2 Long @ 816.60 --> + 0.2 11:39 Holding 1 contract remainder from the original 4 contracts. Exited Remainder ER2 Long @ 816.80 --> + 0.4 11:40 <NihabaAshi> Reminder - 1:00 PM ET : Dallas Federal Reserve Bank President Richard Fisher to speak about the U.S. economic outlook to the Rotary Club, in Dallas, Texas. Audience Q&A expected. 11:50 <NihabaAshi> It may produce the first decent volatility of the trading day. <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) 11:57 * Looking up asuni user info... <AmazingJason> Long ER2 @ 817.10 12:06 <NihabaAshi> ER2 5min chart has a rising White Hammer Line...its a tough one to trade because the key price action is below it in the prior recent price action. 12:07 <AmazingJason> Long ER2 @ 816.50 -> Add 12:12 <NihabaAshi> That's a good ADD...should pay off for a few tick profits. 12:13 <codehead> short YM 12688 <paper> 12:16 exit +1 YM <paper> 12:21 don't have time to watch even paper trade it made it to my meager target here 12:27 <NihabaAshi> ER2 needs to hold here or risk dropping a fast 1 point. 12:29 <AmazingJason> Exited all ER2 Long @ 815.60 --> - 2.4 <NihabaAshi> That's a stop runner decline. 12:31 Lets see if it can find some support around 815.10 after a retest. <eminitrader> u bullish for the day niha ? <NihabaAshi> Yes :( 12:32 <eminitrader> k.. <asuni> probably looking for runnin stops at double low of yesterday <NihabaAshi> Not as strong bullish as I would like because the volatility is just "too low" to have a strong bias today. <eminitrader> k thx 12:33 <RussellDaytrade> i no longer am of the outlook that we see 825 before 815, think this is still gathering steam tot he downside, albeit slowly, but seems to be picking up along the way 12:34 <NihabaAshi> Shorts ER2 @ 814.60 -> small size Covered 2/3 ER2 Short @ 814.10 --> + 0.5 12:35 <RussellDaytrade> i think we just broke the lows of past 2 days at 814.6, if memory serves. it may be a buy with a tight stop at the lows. 12:36 <NihabaAshi> Covered Remainder ER2 Short @ 814.40 --> + 0.2 Sponsor: Volatility declining...expecting a volatility spike here soon. 12:41 <RussellDaytrade> but, strong vol may be indicate of lower ultimateley,possibly even another leg down on this overall thrust down...this was what i originally expected yesterday, the intervening late-day up move yesterday, i have to admit, gave the lie to the rise, and had me rethinking, and got me thinking higher. i now think we see 805-810 over nexr day or so. comments welcome Long ER2 @ 814.2 «« paper »» 12:43 <NihabaAshi> RD...I like the 805 price area because that's within a key s/r zone I have designated as a key swing point. <RussellDaytrade> stop 3 ticks <NihabaAshi> If ER2 drops that low regardless to when (today or anytime next week)...I'll be looking for any Long signals to do some size (very large position). 12:44 <codehead> oil hod 12:45 <RussellDaytrade> yes Niha, thats the general theme with that level, and in addition, is my observations that in many instancces, prices will retrace, either up or down, to prior levels where they first 'broke out of'. 12:46 if it before the G-7 announcements, (as in today, unless early enough in day to allow soem time for trade to work), i might suggest waitng for possible g-7 announcemnt fallout to hit the street, etc. 12:47 i don't think we see that low today, but anythings possible. 12:48 Exited all ER2 Long @ 813.9 --> - 0.3 «« paper »» 12:49 <AmazingJason> Shorts ER2 @ 813.90 <RussellDaytrade> i am fairly ceratin i trade the short side with better results. 12:50 <AmazingJason> Covered all ER2 Short @ 813.20 --> + 0.7 12:51 arg 12:53 <NihabaAshi> G7 starting to really hammer the markets Shorts ER2 @ 812.00 -> small size 12:54 <RussellDaytrade> Long ER2 @ 812 «« paper »» 12:55 <NihabaAshi> Covered all ER2 Short @ 811.80 --> + 0.2 <RussellDaytrade> averaing in wide scales <NihabaAshi> Shorts ER2 @ 811.20 -> small size 12:56 1 contract only and for the remainder of the trading day. 12:57 I've reached my profit target for the day. Therefore, I'm officially in profit protection mode. <RussellDaytrade> Long ER2 @ 810.6 -> Add «« paper »» <NihabaAshi> Covered ER2 Short @ 810.60 --> + 0.6 <RussellDaytrade> hey, i ain't sleepy anymore! 12:58 Long ER2 @ 809.9 -> Add «« paper »» 13:01 <AmazingJason> Long ER2 @ 809.60 13:06 <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) <RussellDaytrade> ap = 810.8 13:08 <pdays> Long ER2 @ 809.7 13:09 <codehead> short QM 60.40 <paper> 13:10 man, i didn't stick with that YM short, went 50 ticks without the signal wavering <AmazingJason> Exited 1/2 ER2 Long @ 810.10 --> + 0.5 13:12 <werner> don't look back ch 13:29 yy bc d he 13:32 sorry <codehead> exit Qm 60.275 <paper> +.125 13:33 <werner> nice 13:34 <RussellDaytrade> well, i'd say that fulfilled my downside projections, sooner than i expected them, in a sense, since i had origianlly expected this from early yesterday, but as i said that late day rally gave me pause, so if measured from early yeaterday, its about right, if measured from today, seems like it got here kinda fast. i think it played 'catch-up' today 13:41 <NihabaAshi> Wow...this thing reached the 808.00 price zone 13:45 I'm in profit protection mode :( 13:46 Looking to go Long even though I can't load the boat. Long ER2 @ 808.30 -> small size 13:47 ER2 is searching for a temporary bottom. 13:48 <AmazingJason> Long ER2 @ 808.00 13:49 Exited 1/4 ER2 Long @ 808.50 --> + 0.5 13:50 <NihabaAshi> Long ER2 @ 808.10 -> Add 13:51 Long ER2 @ 807.70 -> Add Exited 1/3 ER2 Long @ 808.20 --> + 0.5 13:52 <AmazingJason> Exited 1/4 ER2 Long @ 808.50 --> + 0.5 13:54 <NihabaAshi> Exited 1/3 ER2 Long @ 808.50 --> + 0.2 Got another order in to dump it at 808.60 Exited Remainder ER2 Long @ 808.60 --> + 0.3 13:55 That was my easiest trade all day. Too bad I'm in profit protection mode :( 13:56 <AmazingJason> Exited 1/4 ER2 Long @ 809.00 --> + 1 <RussellDaytrade> my guess it this has to get north of 811 to make the majority of the buyers ove the past hour-hour half whole and or in the money. i think it does. is there a script short-hand for a 'crossing of fingers' sign? or a 'hands together in prayer'? 13:57 <AmazingJason> Exited Remainder ER2 Long @ 808.10 --> + 0.1 13:58 <RussellDaytrade> i got a positive div on that last drop, ie, lower price, less selling pressure. small comfort, but its there. 13:59 t = 810.8 by 14:33et 14:02 on days like today, however, that up t may take the shapre of a sideways-type move/flattish in relation to the drop, and the tangent of an arc swung near the timeframe of t-time may help in identifying such. 14:05 witht he pivot of said arc the low, (major last low where most vol transacted). kinda the inverse of wednesdays 'hangtime'. 14:07 <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) 14:15 <codehead> long YM 12602 <paper> 14:30 hm, signal didn't print yet ic 14:31 down more likely... 14:33 exit -10 YM <paper> 14:34 oh well wow quick flush 14:35 <NihabaAshi> Long ER2 @ 807.10 -> small size 14:40 My last trade of the day. :( 14:44 Exited ER2 Long @ 807.30 --> + 0.2 Sponsor: <codehead> long YM 12586 <paper> 14:50 dang, jumped the signal again 14:52 sheesh exit YM -1 <paper> 15:00 signal finally going this time 15:01 sheesh <RussellDaytrade> up targets now on. 15:13 overall lower ap on all buys past 3 hours, muy guess is ap near 809.5-810, srmounting of those levels puts the buyers in the money, if it occurs. hopefully, the sellers have spent the bulk of their ammo. 15:15 if no fallout arises from outcome of g-7, possible sharp rise first thing monday am, possible revist of 813-815 area. 15:19 <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) 15:27 <pdays> Exited all ER2 Long @ 808.7 --> - 1 15:36 <RussellDaytrade> Exited all ER2 Long @ 810.7 --> - 0.5 «« paper »» 16:01 whadya know. 16:02 <werner> gn all 16:11 <NihabaAshi> Take care all and have a nice safe weekend. 16:22
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