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#FuturesTrades February 22nd Thursday 2007 Trade Log

#FuturesTrades is a private and free realtime trading posting chat room on the IRC Othernet server that allows traders from all over the world to communicate.

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

+20.90 +0.0000

$2,090.00 $0.00

Trend Reversals via Intermarket Analysis

Profit/Loss Statement

My key trade today was @ 1114am est when I reversed a losing small Long position into a larger Short position and my position size management on the short position reflects my bearish bias of the trading day.

This was a key trade due to the fact that the market bounced off the intraday lows to take out my remainders in that Short position as small profits instead of as big profits.

However, the reason for the counter-thrust bounce back upwards is usually not obvious to most retail traders and it was correlated with the price action of the Oil markets.

Had I continue trading, instead of deciding during the Short position it would be my last trade of the day, I would have caught a nice bullish signal from the Swing Trading Report (STR) and possibly held the trade to a WRB pt2 level.

Further, if you look at the chat logs below around 1130am est, there's no discussions about what the other key markets are doing like Oil, Gold, DAX et cetera...called intermarket analysis.

Simply, if we want to be consistently profitable traders, we need to pay attention on what's occurring in other markets to be able to exploit one of the most common reasons to the development of trend reversals signals.

Key news of the day

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: Thu Feb 22 09:17:54 2007Session Ident: #futurestrades

* Now #FuturesTrades purpose, benefits and access info...click here. 09:17

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

<PapaJon> gm all 09:26

<pat255> gm all..

<eminitrader> hi all 09:28

<ItalianSharp> morning EM, morning all

<asuni> gm pat, ET, IS, gm all

<pat255> asuni niha emini ...:) 09:29

<Chilly> gm

<eminitrader> morn IS A

Shorts ES @ 1462.50 09:31

<Chilly> oil at 10:30 this morning 09:32

<venedom> gm 09:33

<NihabaAshi> Shorts ER2 @ 829.20 -> medium size 09:34

<venedom> Shorts ER2 @ 829.30 -> medium size

<NihabaAshi> Covered 1/3 ER2 Short @ 828.10 --> + 1.1 09:36

Gap fill

<venedom> Covered 1/2 ER2 Short @ 828.10 --> + 1.2

Covered all ER2 Short @ 828.60 --> + 0.7 09:37

<NihabaAshi> Covered 1/3 ER2 Short @ 828.90 --> + 0.3

Covered Remainder ER2 Short @ 828.70 --> + 0.5 09:38

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* codehead_afk is now known as codehead 09:39

<NihabaAshi> Volatility dropping fast...expecting a volatility spike here soon. 09:42

<RussellDaytrade> which direction? 09:43

<NihabaAshi> Direction not important...what's important is to be "prepared" to trade when it spikes if a pattern signal appears with the spike. 09:44

<Chilly> Long ES @ 1462.25 «« paper »»

<RussellDaytrade> ok, thx. 09:45

<NihabaAshi> Long ER2 @ 829.80 -> large size

<szubaark> Buys NQ @ 1852.50 «« paper »»

<Chilly> Exited 1/3 ES Long @ 1463 --> + 0.75 «« paper »»

<NihabaAshi> By the way, I currently have a Bearish Bias...will load up if I get a Short signal. 09:47

<szubaark> exit stop set NQ @ 1852.50 «« paper »» 09:48

Not much room

Exited all Long NQ at 1853.75 --> + 1.25 «« paper »» 09:50

<Chilly> Exited 1/3 ES Long @ 1463.25 --> + 1 «« paper »»

Exited 1/3 ES Long @ 1464.50 --> + 2.25 «« paper »» 09:52

<szubaark> Shorts NQ @ 1856.25 «« paper »» 09:53

Looking for 10Am report to take this down now.

<NihabaAshi> Exited 1/3 ER2 Long @ 831.00 --> + 1.2

Exited 1/3 ER2 Long @ 831.60 --> + 1.8 09:54

<RussellDaytrade> Shorts ER2 @ 831.4 «« paper »» 09:55

<szubaark> Report in 4 minutes,.

<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) 09:58

<szubaark> exit stop set NQ @ 1856.25 «« paper »» 10:01

Volatility spike coming up. hopefully to downside, Im SHORT :) 10:02

<NihabaAshi> Exited Remainder ER2 Long @ 830.10 --> + 0.3 10:03

<RussellDaytrade> Covered all ER2 Short @ 829.8 --> - 0.8 «« paper »»

<szubaark> Covered all Short NQ at 1852.75 --> + 3.5 «« paper »» 10:04

<RussellDaytrade> closed the short from this am at 831.4. 10:05

still short 4 with ap 822.1, 823.3 or so if i count gains on closed trades. 10:06

<szubaark> No Bounce so far since the 10 Am Run-up 10:09

<pat255> emini u stil S on es? 10:10

<szubaark> pat i didnt see him post Exit. 10:11

<pat255> yes was wondering .. 10:12

he dis that indy.. 10:13

<eminitrader> yes pat

<pat255> k emini ...thks

emini go some guts ...i tell ya

freaking hell...went like gangbusters came down like that too.. 10:17

<eminitrader> Covered 1/3 ES Short @ 1460.50 --> + 2

<pat255> vn emini

<eminitrader> thx pat 10:19

<szubaark> emini how much further would u have let that go against you?

High was 1464.75

<pat255> yeah szu em got guts .. 10:20

he just goes for a smoke & make money ..

i gotta get me a packet too..

<eminitrader> 1465.50 was my stop 10:21

will wait for a 10 pionter 10:22

<szubaark> Gap close bounce here.. lets see if Sellers will Re-Load their Ammo

<NihabaAshi> Long ER2 @ 828.00 -> small size 10:24

<pat255> niha er not holding .. new low 10:25

<NihabaAshi> Exited ER2 Long @ 827.50 --> - 0.5

Reverse and Enter Short ER2 @ 827.50

<szubaark> My only problem with a trade here is where the hack do i put a Stop? 10:28

<RussellDaytrade> ap on last 2 sales from late yesterday is 826.75, always nice to see it coming in. that said, we may have up targets now on, of a sorts, but obviously, i am hoping for more downside, in a general way, before too much longer. 10:29

<szubaark> ok Russell :))

<NihabaAshi> Ooops...we have a 1030am est EIA Petroleum Status Report today 10:30

<pdays> #s out invtories smaller than est

<NihabaAshi> Wasn't the EIA report cancelled for Wednesday due to Monday's Holiday? 10:31

<szubaark> Barrons says 10:30 10:32

<NihabaAshi> Ok...that gives me a better trading plan of my current position.

<RussellDaytrade> could we possible have a 15 point donday in the er in store today, 15 from high to low, not from close to close? 10:34

* szubaark is now known as szubaark_away 10:35

<NihabaAshi> Covered all ER2 Short @ 826.80 --> + 0.7

Long ER2 @ 828.30 -> small size 10:38

I should'uv waited for a better entry. 10:40

Exited all ER2 Long @ 828.50 --> + 0.2 10:41

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<RussellDaytrade> i wonder if thewre may be too much of a shelf of support from past 2 days around here to become a 15 pointer down, as mentioned in above post? 10:42

<NihabaAshi> We have enough volatility for a strong move to occur...something is keeping it close to its Opening price. 10:43

<RussellDaytrade> up t on this move may extend to 830.4 10:44

by 11:16 or so.

<jperl> ER2 VWAP 828.95 10:45

<pat255> jp vwap acted as R on er 11:06

<RussellDaytrade> indeed it did.

a nice whoosh in here will really demoralize longs, and turn this into a downside with gusto happening, i think. 11:08

that could feed on itself.

<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) 11:10

<NihabaAshi> Long ER2 @ 827.30 -> small size 11:12

Exited ER2 Long @ 826.60 --> - 0.7 11:14

Reverse and Enter Short ER2 @ 826.60

Added extra contracts on the reversal

<pat255> nice reverse as usual niha.. 11:15

<eminitrader> Covered 1/3 ES Short @ 1458.50 --> + 4

<pat255> vn...

<eminitrader> tyx pat 11:16

<RussellDaytrade> i cannot and do not see any good reason for it to stop, i do see it continuing to gahter steam, to downside. :) 11:17

<jperl> Done for the morning....couldn't do anything correct this morning....

<ItalianSharp> i guess lunch break is a good reason for it to stop

<jperl> http://charts.dacharts.com/2007-02-22/JP ERL_011.png

<NihabaAshi> Covered 1/3 ER2 Short @ 825.40 --> + 1.2 11:18

<RussellDaytrade> 'stop the presses!' hold selling!, gotta go out for a coney-dog! on wall and broad.

<NihabaAshi> Reason for the increase in contracts because I'm back within my initial Bearish Bias and the breakdown occurred on "increasing volatility". 11:19

<RussellDaytrade> starting to get filled on buys (to close shorts) below mkt. 11:20

<NihabaAshi> I also missed an earlier Short signal around 1102am est :(

<RussellDaytrade> tiered from 825 to 817, at about every point down

<eminitrader> Covered 1/3 ES Short @ 1455.50 --> + 7

<pat255> wtg

<eminitrader> holding 1

<NihabaAshi> Covered 1/3 ER2 Short @ 824.90 --> + 1.7

<eminitrader> thx pat

<RussellDaytrade> have you no shame EM? 11:21

<NihabaAshi> Wow...nice hold eminitrader.

<RussellDaytrade> Covered 1/2 ER2 Short @ 824.9 --> + 6.5 «« paper »»

<eminitrader> thx niha...had a bearish bias from the open

<pat255> learning em ...vvn 11:23

<RussellDaytrade> i wish, that was script calculating from 831.4, had already closed that. what i just closed was a short from 826.1, so thats about a 2.2 gainer. only closing so i have 1)reduced risk, and 20 so i can sell it again.

Covered 1/3 ER2 Short @ 824.9 --> + 6.5 «« paper »» 11:25

same thing, only that was from a sale at 827.5 or so, i forget, from yesterday, still short the 2 at ap 817.5. wanna sell again, just covering a couple in case it bounces, trying to reduce risk, and free up ammo. :) 11:27

with gains on closed trades, my ap on those 2 open shorts, is now closer to 821.5. getting closer, and have reduced risk exposure. 11:29

now 'only ' down 700, as opposed to over 4000 at eh worst of it 11:30

just filled at 824 11:31

next buy at 822

<NihabaAshi> I'm going to call it a day after I close this position so I can do some personal stuff this afternoon. 11:38

<pat255> later niha ...

<RussellDaytrade> Shorts ER2 @ 825.7 «« paper »» 11:39

startin early again 11:40

<NihabaAshi> Covered ER2 Short @ 825.80 --> + 0.8 11:45

Holding 1 contract remainder

Covered Remainder ER2 Short @ 826.00 --> + 0.6 11:46

I was going to try to hold those remainders for the remainder of the trading day but decided to get some personal stuff done today. 11:47

* NihabaAshi is now known as NihabaAshi_away

<pat255> k guys later ty all 12:08

<RussellDaytrade> Covered all ER2 Short @ 825.7 --> 0 «« paper »» 12:14

gonna continue to reduce risk every chance i get.

Covered 1/2 ER2 Short @ 825.8 --> - 0.1 «« paper »» 12:18

that a loss from a close of the 818.5 from day before yesterday offset by gains, for an approx flat. now short 1 from 816.5. have reduced risk to 1 open position, so if moves against my price, will have less impact. 12:20

<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) 12:22

<eminitrader> gotto go guys ...stop @ b/e ...limit @ 52.50 for a tenner ...either way good day...nice trading all 12:56

<ItalianSharp> well done EM 13:00

<RussellDaytrade> wtg EM.

<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) 13:34

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<RussellDaytrade> Shorts ER2 @ 828.8 «« paper »» 15:15

good a place as any, happy i reduced my risk from lower.

<jperl> Today's trades....better this afternoon than the morning.... 15:49

http://charts.dacharts.com/2007-02-22/JP ERL_012.png

<RussellDaytrade> looks like you got it back to a slight positive, wtg. 15:50

<jperl> Yes...I think so 15:54

<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) 15:58

<RussellDaytrade> asuni, you gotta get that fixed, it must be maddening to have to constantly be logging in repeatedly. 16:14

<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) 17:07

* DisconnectedSession Close: Thu Feb 22 17:15:30 2007 17:15

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