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#FuturesTrades February 26th Monday 2007 Trade Log

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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.

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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).

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ER2 EuroFX EC

+24.50 +0.0000

$2,450.00 $0.00

Position Size Management and Former Chairman Greenspan

Profit/Loss Statement

I had an initial neutral bias at the Open. However, with bearish comments by former federal reserve chairman Greenspan and the lack of any positive news, my bias quickly shifted to bearish especially after the first 2mins price action.

In addition, the market suckered me into going Long (I was only looking for a few tick profits) in my second trade of the day and I took a quick loss but reversed back into the direction of my bearish bias along with increasing my position size due to a pattern signal.

Simply, position size management and the experience of not dwelling to long about a losing trade allowed for today to be a big profitable trading day.

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: Mon Feb 26 09:29:02 2007Session Ident: #futurestrades

* Now #FuturesTrades purpose, benefits and access info...click here. 09:29

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

<pat255> rock & roll mkt will not go down..

gm all

<PapaJon> gm all, gm pat

<pat255> papa.. 09:31

<eminitrader> Shorts ES @ 1459 09:32

<NihabaAshi> Shorts ER2 @ 830.30 -> large size

<werner> gm all 09:37

<wizardofrijnsaterwou> gm werner, all

<werner> :) 09:38

<NihabaAshi> Covered ER2 Short @ 830.90 --> - 0.6 09:39

Reverse and Enter Long ER2 @ 830.90

I gave that Short a lot of breathing room and it didn't pay off :(

Exited ER2 Long @ 830.00 --> - 0.9 09:40

Reverse and Enter Short ER2 @ 830.00

Shorts ER2 @ 829.30 -> Add 09:44

Covered 1/2 ER2 Short @ 828.70 --> + 0.6 09:45

That was an equal size add on a large position....rarely do I do that but the conditions was ripe for it.

<pat255> wow..loaded the boat 09:46

<NihabaAshi> Covered ER2 Short @ 828.60 --> + 1.4

Holding 5 contracts

Geeesh...look at the tight range on ES :( 09:50

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<eminitrader> :((

<pat255> yes...

<eminitrader> days like r4 when i wish i were trading the er2

<NihabaAshi> Covered ER2 Short @ 828.00 --> + 2

Holding 2 contracts

<jperl> Friday's VWAP ER2 827.16 09:51

<eminitrader> Covered 1/2 ES Short @ 1457 --> + 2 09:54

<pat255> vn..

<eminitrader> thx pat

<NihabaAshi> Covered ER2 Short @ 826.90 --> + 3.1

Holding 1 contract

<eminitrader> :))

<pat255> wtg niha..

<NihabaAshi> Just making up for being "suckered" into that Long position. 09:55

<eminitrader> er and nq gap filled ...es strong so fat

<NihabaAshi> Here's the "behind the scenes" story on reversing that Losing Long position into a profitable Short position... 09:56

I tried reversing at 830.50 and it would have resulted in only a -0.40 loss instead of a -0.90 loss. 09:57

However, I'm using a wireless keyboard and my battery went dead...took me about 2 seconds to pop up my laptop hood and use the normal keyboard to reverse my Long into the Short :(

Be back while I look around the house for some AA bateries.\ 09:58

<pat255> dang..niha that is why i use hardwired stuff..

* NihabaAshi is now known as NihabaAshi_away

<pat255> @office today tho laptop & dial up cpnnect..lol 09:59

<RussellDaytrade> Covered all ER2 Short @ 826 --> + 1.2 «« paper »» 10:01

<NihabaAshi_away> ++++++++++``````````````

* NihabaAshi_away is now known as NihabaAshi

<NihabaAshi> Sorry about that

I bought some Rechargable Energizer batteries...they only lasted one week :( 10:02

In comparison, the rechargable Duracell batteries last about one month. 10:04

<eminitrader> Covered 1/3 ES Short @ 1456 --> + 3 10:05

hokding 2

<RussellDaytrade> samll up target now on?

<pat255> biab,, 10:06

back to work..

ty all 10:07

<szubaark> Buys NQ @ 1841 «« paper »»

<NihabaAshi> Covered Remainder ER2 Short @ 825.50 --> + 4.5 10:10

<asuni> great trade niha

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<szubaark> exit stop set NQ @ 1841 «« paper »» 10:11

<eminitrader> Covered ES Short @ 1457 --> + 2

Reverse and Enter Long ES @ 1457

<szubaark> Exited all Long NQ at 1843.50 --> + 2.5 «« paper »» 10:13

<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) 10:17

<eminitrader> Exited all ES Long @ 1456.50 --> - 0.5 10:20

<szubaark> ES just untradable in 2 Point Range. Bot vs Bot 10:22

<eminitrader> :( very true(

Long ES @ 1456.25 10:23

Exited 1/3 ES Long @ 1457 --> + 0.75 10:25

Exited Remainder ES Long @ 1456.25 --> 0 10:27

<jperl> ER2 1 week VWAP=824.23 10:30

<eminitrader> Long ES @ 1454.25 10:36

Exited all ES Long @ 1453.75 --> - 0.5 10:43

<jperl> today's ER2 VWAP = 826.69 11:02

<RussellDaytrade> greensapn must need something to do, not busy enough these days, wants to be back in the limelight, calling a market top. 11:04

<jperl> This morning's trades..... 11:05

http://charts.dacharts.com/2007-02-26/JP ERL_016.png

<NihabaAshi> I heard about his comments...some traders were expecting a bearish day because of such comments.

Does anybody have a link to Greenspan (ex Fed Chairman) bearish comments. 11:06

?

<RussellDaytrade> yes, while he called for a reccession, the market top are my words, on how his comments may be reflected and interpreted by mky, etc. looks like it had the desired effect, at least as far as the morning session was concerned. 11:08

<Chilly> http://biz.yahoo.com/ap/070226/hong_kong _us_greenspan.html?.v=4

<RussellDaytrade> seller near and above 828

<NihabaAshi> Thanks RD and Chilly 11:09

<eminitrader> Shorts ES @ 1456.50 11:11

<RussellDaytrade> still short one, with this am clsoe of fridays 827.2 short, ap on that open short now at 820.7. no profits generated on poast 4-5 days, but have about closed/offset all losses with gains on closed trades, and have most of my firepower / reduced risk exposure, and, id drops, will gain more. 11:12

* codehead_afk is now known as codehead 11:16

<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) 11:26

<eminitrader> Covered 1/3 ES Short @ 1455.50 --> + 1 11:33

<NihabaAshi> Shorts ER2 @ 825.90 -> small size 11:34

:( 11:40

Now I see my analysis error. 11:41

Looking for a lucky exit if I can get it.

Covered all ER2 Short @ 825.80 --> + 0.1 11:42

<eminitrader> thers ur lucky exit niha :))

<NihabaAshi> :)

<eminitrader> not sure of er but es high probability new lows 11:43

Covered 1/3 ES Short @ 1454.50 --> + 2 11:45

<RussellDaytrade> EM, they seem to be paying you more to be short today. 12:03

<eminitrader> oh the pain in being short...lots of shakeouts....like my original entry @1459 :(( 12:04

looks like the mrkt is strong ..may rebound this pm 12:05

<RussellDaytrade> i think it breaks sup today, referrinbg to the er.

looks poised to right about now. 12:06

may go dn 4-6 if so. have expected it for past couple days, so maybe today it will occur. 12:07

<eminitrader> Covered 1/3 ES Short @ 1453.50 --> + 3 12:11

holding 1

Covered Remainder ES Short @ 1452.50 --> + 4 12:22

running out of patience 12:23

<RussellDaytrade> oh the pain! :)

<eminitrader> was finally worth it ...no pain np gain :}}

<RussellDaytrade> nice run.

<eminitrader> thx rd 12:24

<RussellDaytrade> now what? i think its still got more to resolve down.

<eminitrader> will prolly test 1446-1448 on the ES i think ...before new highs 12:25

nice supp near 1450 too ...so lets wait and see 12:26

<RussellDaytrade> if not now, that low may become pivot later for lower leg

<eminitrader> smoke time ...later 12:27

<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) 12:38

<RussellDaytrade> Covered all ER2 Short @ 821.9 --> + 5.3 «« paper »» 12:39

<codehead> long YM 12654 12:40

stop 12649

<eminitrader> excellewnt RD :))

<RussellDaytrade> actually, that a close of the last open short, for an approx loss of 120. now flat, and total loss for all approx 120. recovered virtually all drawdowns 12:41

<eminitrader> good for you 12:42

<RussellDaytrade> thx EM. will do better next time.

<codehead> stopped out YM 12:43

<RussellDaytrade> still think it ses 817-818 or so on this main move.

<eminitrader> Long ES @ 1448.50 12:48

<RussellDaytrade> all drawdowns on all sim accounts are converted to profits, and all shorts closed. 12:50

time for breakfast.

was short for about 5 days on one account. 12:51

<eminitrader> lol

Exited 1/3 ES Long @ 1449.50 --> + 1

<RussellDaytrade> good money if one has patience. perhaps better $ if not!

<eminitrader> Exited Remainder ES Long @ 1448.75 --> + 0.25 12:54

<NihabaAshi> Long ER2 @ 820.00 -> small size 12:56

Exited ER2 Long @ 819.50 --> - 0.5

Reverse and Enter Short ER2 @ 819.50

Shorts ER2 @ 819.50 -> Add 12:57

Covered all ER2 Short @ 820.20 --> - 1.4 13:01

Long ER2 @ 820.60 -> medium size 13:04

<werner> gn all 13:09

<Chilly> Long ES @ 1449.75 «« paper »» 13:30

<NihabaAshi> Exited 1/2 ER2 Long @ 822.00 --> + 1.4 13:31

Even though 3 out of 7 trades are profitable... 13:33

I'm having a big profitable trading day only because I have more size on my winners and two of my winning traders have been much larger in comparison to the losing trades. 13:34

<codehead> nice 13:41

<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) 13:50

<NihabaAshi> Exited ER2 Long @ 823.10 --> + 2.5 14:07

Holding 1 contract

<RussellDaytrade> Shorts ER2 @ 823 «« paper »» 14:14

<Chilly> Exited 1/3 ES Long @ 1451.00 --> + 1.25 «« paper »» 14:19

<NihabaAshi> Exited Remainder ER2 Long @ 824.10 --> + 3.5 14:21

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<Chilly> Exited 1/3 ES Long @ 1451.75 --> + 2 «« paper »» 14:22

<eminitrader> Shorts ES @ 1451 14:31

Shorts ES @ 1452 -> Add 14:36

<RussellDaytrade> next short scale at 827 14:37

nothing magical about 827, just a wide scale-in rate. 14:41

<eminitrader> most likely a TANK coming ... 14:43

<Chilly> exit stop set ES @ 1450.00 «« paper »» 14:45

<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) 15:02

<eminitrader> Shorts ES @ 1451.75 -> Add 15:08

Covered 1/3 ES Short @ 1451 --> + 0.75 15:12

thats a b/e from 1 lot short

<Chilly> Exited 1/3 ES Long @ 1450.75 --> + 1 «« paper »» 15:22

holding one

exit stop set ES @ 1449.75 «« paper »» 15:23

so hard to concentrate with all the Anna Nicole Smith drama to follow ;) 15:25

<eminitrader> Covered 1/3 ES Short @ 1450.75 --> + 0.25 15:40

Covered Remainder ES Short @ 1451.75 --> - 0.75 15:45

<Chilly> saved by a tick but gotta go 15:46

Exited Remainder ES Long @ 1452.00 --> + 2.25 «« paper »» 15:47

EM nice trading today .. c ya folks

<NihabaAshi> TAke care all and see all tomorrow. 15:57

<codehead> cya 15:58

<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) 16:14

* DisconnectedSession Close: Mon Feb 26 16:23:04 2007 16:23

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