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#FuturesTrades February 20th Tuesday 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

+16.30 +0.0000

$1,630.00 $0.00

Position Size Management Saves the Day

Profit/Loss Statement

I consider today to be my first full trading day of the month where I wasn't trying to take it easy.

The trading day started good and the profits from my first trade gave me a nice cushion to play with going into the afternoon trading session.

However, I had one major problem in that I stopped trading prior to the appearance of a key pattern signal from the Swing Trading Report (STR) at around 1044am est (see chat log below to the reason why I missed the biggest pattern signal of the trading day...maybe of the trading week).

Not only did I miss the bullish long signal, I missed watching the key price action of the uptrend that developed afterwards.

I know my afternoon trading habits well enough to know that when I start trading in the afternoon after not having the opportunity to understand and feel the price action move upwards strongly...the afternoon trading session can be very hard for me because I don't have my normal confidence level.

Knowing this important characteristic about my own trading...my first two afternoon trades were intentionally via a small size only.

Both trades resulted in a loss and the loss was minimized.

Thus, one of the key aspects of Position Size Management is knowing how you interact with the markets when particular problems occurs...knowing when to go small, when to trade via the normal size and when to go large.

After the first two losses in the afternoon trading session, I started developing a feel for the price action and begin increasing my position size along with having a better understanding of the volatility (volatility analysis).

The result was that I was able to bounce back from consecutive losing trades and add more profits to my morning profits.

It's funny because I had a Bearish Bias from start to finish even though my win:loss ratio wasn't too good.

However, I did get a chance to trade something (pattern signal) that's new to my trade methodology.

It'll be months of further testing with small size trades and an occasional normal size trade because I include it in either the trading reports or the trading manual.

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.


Session Start: Tue Feb 20 09:28:42 2007Session Ident: #futurestrades

* Now #FuturesTrades purpose, benefits and access info...click here. 09:28

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

<NihabaAshi> Good morning all 09:29

<asuni> gm niha, gm all 09:30

<Chilly> gm folks

<eminitrader> morn all

<andrei> gm all

<PapaJon> gm niha, all

<pat255> morn all 09:31

<RussellDaytrade> Covered all ER2 Short @ 817.1 --> - 0.6 «« paper »»

<eminitrader> Long ES @ 1457.25 09:32

<NihabaAshi> Shorts ER2 @ 817.00 -> large size

Shorts ER2 @ 817.30 -> Add 09:35

Covered 1/3 ER2 Short @ 816.20 --> + 1.1 09:37

<szubaark> Buys NQ @ 1821 «« paper »» 09:39

<eminitrader> Long ES @ 1456.25

thats an add

<NihabaAshi> Covered 1/3 ER2 Short @ 815.60 --> + 1.4 09:40

<AmazingJason> Long ER2 @ 816.50 09:47

<NihabaAshi> Covered Remainder ER2 Short @ 816.70 --> + 0.3

<pat255> nice start niha,,

<NihabaAshi> Thanks

<RussellDaytrade> sell limit to enter short ER2 @ 818.5 «« paper »» 09:52

<NihabaAshi> Shorts ER2 @ 815.90 -> small size 09:54

<eminitrader> Exited all ES Long @ 1454.25 --> - 2

<AmazingJason> Exited ER2 Long @ 815.50 --> - 1

Reverse and Enter Short ER2 @ 815.50

<NihabaAshi> Covered 2/3 ER2 Short @ 815.20 --> + 0.7 09:56

Covered Remainder ER2 Short @ 815.30 --> + 0.6 09:57

I have a Bearish bias and normally I would have held my remainders much longer for the two trades.

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<AmazingJason> Covered 1/2 ER2 Short @ 815.20 --> + 0.3 09:58

<szubaark> my IB froze.. had to re-boot :(

<NihabaAshi> However, we're getting some heavy snow fall here and I need to make sure spouse can get out. Simply, its snow blower and shoveling time whenever she's ready to leave :(

Until then, I'm officially in profit protection mode...one contract only. 09:59

<pat255> oh man i have been thru that years ago...

<NihabaAshi> Current spike related to the 10am est report...something that's suppose to not generate volatility like this. 10:00

<RussellDaytrade> Long ER2 @ 814 «« paper »» 10:01

Exited all ER2 Long @ 813.5 --> - 0.5 «« paper »» 10:02

<szubaark> Exited all Long NQ at 1818 --> - 3 «« paper »»

<AmazingJason> Covered 1/4 ER2 Short @ 813.50 --> + 2

Covered 1/4 ER2 Short @ 813.50 --> + 2

<szubaark> Shorts NQ @ 1817.25 «« paper »»

<RussellDaytrade> Long ER2 @ 814 «« paper »» 10:03

<NihabaAshi> ER2 volatility almost dead...I'm expecting another volatility spike soon. 10:06

<AmazingJason> Long ER2 @ 814.30 10:08

<RussellDaytrade> Exited all ER2 Long @ 814.6 --> + 0.6 «« paper »» 10:09

<NihabaAshi> Long ER2 @ 814.50 -> small size

1 contract only

<szubaark> Covered all Short NQ at 1817.25 --> 0 «« paper »»

Buys NQ @ 1817.25 «« paper »»

<NihabaAshi> Not much of a volatility spike :(

Hopefully there's some energy left in it.

<AmazingJason> Exited all ER2 Long @ 814.90 --> + 0.6 10:11

<NihabaAshi> Exited ER2 Long @ 814.90 --> + 0.4

<AmazingJason> just ahead of you niha :)

<NihabaAshi> :) 10:12

Be back later...snow maintenance time. 10:14

* NihabaAshi is now known as NihabaAshi_away

<szubaark> Exited all Long NQ at 1817.25 --> 0 «« paper »» 10:26

* szubaark is now known as szubaark_away

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 10:31

<szubaark_away> IB down here :( 10:33

<RussellDaytrade> Shorts ER2 @ 816.5 «« paper »» 10:36

<AmazingJason> Shorts ER2 @ 816.20 10:40

Covered 1/3 ER2 Short @ 815.70 --> + 0.5 10:42

Covered Remainder ER2 Short @ 816.10 --> + 0.1

damn wanted to go long, er2 popped 10:45

<RussellDaytrade> t just fulfilled

Short ER2 @ 816.5 «« paper »» 10:52

* codehead_afk is now known as codehead 10:53

<RussellDaytrade> thas a fill from earlier this am limit sell

Shorts ER2 @ 819.5 -> Add «« paper »» 11:01

* NihabaAshi_away is now known as NihabaAshi 11:17

<RussellDaytrade> IS, if you were still wondering what a stilt looks like, you're looking at it. 11:34

<ItalianSharp> yep...i took the early part of this stilt...exited 6pts ago...:( 11:35

<RussellDaytrade> i took the early part too...short!

still short.

<ItalianSharp> i guess this move ahead of the FOMC minutes is pretty indicative of what Bernanke is going to say tomorrow 11:36

there are rumors about US housing market being strong

<RussellDaytrade> Shorts ER2 @ 825.2 -> Add «« paper »» 11:37

thats 3 short

correction, 4 at ap 819.92 11:38

<ItalianSharp> ER is the most bullish of all...impressive surge indeed 11:42

<RussellDaytrade> may end day neg

<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) 11:43

<RussellDaytrade> Japanmay raise rates tonight, (which will be tommorow over there), if so, market here may take a hit right from the get-go. 11:46

<AmazingJason> Shorts ER2 @ 824.70 11:55

Covered all ER2 Short @ 824.50 --> + 0.2 11:58

<pat255> k guys later ty all 12:14

<AmazingJason> Shorts ER2 @ 825.30 12:20

Shorts ER2 @ 825.70 -> Add 12:21

Covered all ER2 Short @ 826.80 --> - 2.6 12:22

Shorts ER2 @ 826.50 12:30

Covered all ER2 Short @ 825.90 --> + 0.6 12:33

<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) 12:55

<AmazingJason> Long ER2 @ 826.30 13:07

Long ER2 @ 825.90 -> Add 13:08

Exited ER2 Long @ 825.10 --> - 1.2 13:12

Reverse and Enter Short ER2 @ 825.10

Covered all ER2 Short @ 824.50 --> + 2 13:20

Long ER2 @ 824.60

Long ER2 @ 824.60 -> Add 13:28

Exited 2/3 ER2 Long @ 825 --> + 0.4 13:33

Exited Remainder ER2 Long @ 825.50 --> + 0.9 13:35

Shorts ER2 @ 825.30 13:43

Shorts ER2 @ 825.50 -> Add 13:46

Shorts ER2 @ 825.6 -> Add 13:48

Covered all ER2 Short @ 825.90 --> - 0.9 13:57

Long ER2 @ 825.90

Exited 1/3 ER2 Long @ 826.20 --> + 0.3 14:00

Exited all ER2 Long @ 825 --> - 0.9 14:01

Long ER2 @ 825

mistake, supposed to be short 14:02

<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) 14:04

<AmazingJason> got burned on that short...bad day :( 14:14

<pat255> S this one not easy.. 14:16

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<NihabaAshi> Shorts ER2 @ 826.60 -> small size

1 contract only

<AmazingJason> Shorts ER2 @ 826.70 14:17

<NihabaAshi> Covered ER2 Short @ 826.90 --> - 0.3 14:18

Reverse and Enter Long ER2 @ 826.90

<AmazingJason> Covered all ER2 Short @ 826.90 --> - 0.2 14:19

Shorts ER2 @ 826.90 14:23

<NihabaAshi> Exited ER2 Long @ 826.40 --> - 0.5 14:24

Reverse and Enter Short ER2 @ 826.40

At 3 contract on the Short

May add to bring it near a medium size position. 14:25

<pat255> this tuff to tade from office... 14:26

<pdays> Shorts ER2 @ 826.6 14:32

<NihabaAshi> ER2 volatility almost dead...expecting a volatility spike soon. 14:35

<AmazingJason> getting more leery of another powerful swing up 14:36

<NihabaAshi> Shorts ER2 @ 827.80 -> Add 14:38

<AmazingJason> mistake niha? 14:40

<NihabaAshi> Shorts ER2 @ 827.30 -> Add

Covered all ER2 Short @ 827.30 --> - 0.9 14:46

<pdays> Covered all ER2 Short @ 827.6 --> - 1 14:47

<AmazingJason> Covered all ER2 Short @ 827.70 --> - 0.8

<NihabaAshi> Shorts ER2 @ 827.90 -> large size 14:52

<AmazingJason> doesn't seem like anything's going to stop the bull today 14:57

<NihabaAshi> Covered ER2 Short @ 828.40 --> - 0.5 14:58

Reverse and Enter Long ER2 @ 828.40

<AmazingJason> gonna go, have had enough of this market 14:59

<NihabaAshi> Exited all ER2 Long @ 829.10 --> + 0.7

Shorts ER2 @ 828.00 -> large size 15:00

Oooops... 15:01

Shorts ER2 @ 829.00 -> large size

<andrei> 829.00???

<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) 15:16

<NihabaAshi> Volatility declining again...expecting a volatility spike here soon. 15:17

I'm at a good price area to either reverse my Short into a high probability Long if volatility spikes it upwards or cover the Short at a WRB pt1 level if volatility spikes it downwards. 15:18

:( 15:21

Covered ER2 Short @ 828.10 --> + 0.9 15:24

Holding 2 contracts.

Had an order entry problem at 828.30 that worked in my favor.

Gets me back above my profit goal for the day :)

<RussellDaytrade> for some reason, right at this minute, i have this vision of the movire'Titanic', in the scene where the ship is sinking, the bow has gone in, and the stern has lifted, but not yet broken-off. 15:38

<NihabaAshi> I needed about a 2 point safety net to hold my remaining Shorts into near the close of 4:15pm est. 15:46

Anything less can easily take me out of this Short.

I'm expecting another volatility spike...ER2 volatility has just died. 15:50

Covered ER2 Short @ 827.40 --> + 1.6 15:51

Holding 1 contract

Covered ER2 Short @ 827.40 --> + 1.6 15:57

Reverse and Enter Long ER2 @ 827.40

<WannaBeBOS> go niha 15:59

<NihabaAshi> Exited ER2 Long @ 827.90 --> + 0.5

<WannaBeBOS> i was hoping you would get a point 16:00

<NihabaAshi> Shorts ER2 @ 827.70 -> small size

Covered 1/2 ER2 Short @ 826.80 --> + 0.9 16:06

Covered Remainder ER2 Short @ 827.20 --> + 0.5 16:13

I'm done for the day.

<WannaBeBOS> nice trading there niha 16:19

<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) 16:28

<Awash> . 16:52

* DisconnectedSession Close: Tue Feb 20 17:36:25 2007 17:36

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