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#FuturesTrades February 28th Thursday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+2.90	+339.70	+757.20
$290	$33,970	$75,720

Profitable Trade

1138am - 1201pm est

Losing Trade

1129am - 1130am est

click on image to view actual size

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

General Strategy Info: The above profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi) only and all trades were posted in realtime as shown in the below chat log.

Although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based (no subjectivity) methodology that involves WRB Analysis.

There is some subjectivity involved with some of my trades when I'm developing a new strategy (hence the name TheStrategyLab.com) that uses WRB Analysis.

In fact, many of my trades or profit targets will occur within key WRB support/resistance zones because these price areas gives me a better understanding of key changes in supply demand.

Traditional pivot point analysis or traditional s/r levels are inadequate in understanding changes in supply/demand of the Russell 2000 Emini ER2 or any other trading instrument of today's markets in comparison to WRB Analysis.

WRB Analysis is also a key aspect in my use of intermarket analysis (ex. Oil and Gold), market seasonal tendencies, volatility analysis and custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

Further, position size management is a key aspect of my trading and I trade any where between 1 to 9 contracts per trade depending upon the volatility, pattern signal, seasonal tendencies or intuition.

All of my trades and commentary for today's market action (posted below) are via the user name NihabaAshi (Japanese Candlestick term) and I exclusively trade the Russell 2000 Emini ER2 futures even though I closely monitor other key markets so that I'll have a better understanding of ER2 price action.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in realtime along with the trades of other members of #FuturesTrades.

Further, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Session Start: Thu Feb 28 09:26:43 2008Session Ident: #futurestrades

* Now talking in #futurestrades 09:26

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

<drt> gm all 09:31

<pw998> gm 09:32

<ripsboy> gm traders... 09:35

<szubaark> Buys ES @ 1372.25 «« paper »»

<Spartan> Shorts ER2 @ 710.1 «« paper »» 09:37

Covered all ER2 Short @ 711.1 --> - 1 «« paper »» 09:40

<szubaark> Exited all Long ES at 1369.50 --> - 2.75 «« paper »» 09:45

Shorts ES @ 1369.50 «« paper »»

<Spartan> Shorts ER2 @ 708.1 «« paper »»

Covered all ER2 Short @ 709.1 --> - 1 «« paper »» 09:51

<szubaark> Covered all Short ES at 1371 --> - 1.5 «« paper »»

Buys ES @ 1371 «« paper »»

<Spartan> Shorts ER2 @ 710.1 «« paper »» 09:55

<szubaark> exit stop moved to breakeven ES @ 1371 «« paper »» 10:00

Pinball action 10:01

<ItalianSharp> bernie is speaking...bush due up at 10.05am

chop chop chop

<werner> :( 10:02

<szubaark> Exited all Long ES at 1372.75 --> + 1.75 «« paper »» 10:04

<pw998> what's bush going to talk about? 10:06

<ItalianSharp> bush speaking now

probably talking about the monkeys and how similar they look to its face...:)

<szubaark> lol 10:07

<pw998> funny

<megus> damn, missed the opening

<werner> lol

<megus> hey all 10:08

<szubaark> Buys ES @ 1371.25 «« paper »» 10:10

exit stop moved to breakeven ES @ 1371.25 «« paper »» 10:12

Exited all Long ES at 1371.25 --> 0 «« paper »» 10:15

Buys ES @ 1373 «« paper »» 10:18

<NihabaAshi> Bernanke speaking now ??? 10:19

<megus> didn't he do that yesterday?

<NihabaAshi> If so...he's put a voodoo spell on the futures :)

<pat255> lol 10:20

<NihabaAshi> Ahhh...I know what's going on...

President Bush is on TV and the financial networks is covering his speech :(

<tmk> megus, -- he addressed "the house" yesterday ... today, he's chatting with the Senate.

<ItalianSharp> bernie & bush are a really bad combo 10:21

<pat255> y 10:22

<megus> "chatting"

better off chatting about the weather than the financials

<szubaark> they should be on AFTER markets close, its tough enough dealing with market without them 10:23

<megus> he's causing havoc

<Tim_a1> really, it should be to an advantage, you know where the hcop will be concentrated, that's half the game, avoiding it 10:24

<NihabaAshi> reason why I'm not in a trade right now until Bush is off TV

<ItalianSharp> szu, i think they are on now BECAUSE markets are open 10:25

<Tim_a1> chop, not hcop

<ItalianSharp> the big boys dont wanna work long hrs

<megus> only a 4 point span on ES

<ItalianSharp> so they prefer to have speeches during the 6hr working day...:)

of bush, bernie, etc...were to speak at 5pm...big boys would have to sit in the office for another hour or two... 10:26

<szubaark> Volatility spike to upside 10:27

<Spartan> Covered Remainder ER2 Short @ 712.1 --> - 2 «« paper »»

<megus> any reason for the upside ?

i have no idea what's going on with the speech 10:28

<NihabaAshi> I'll be back when Bush is off TV

* NihabaAshi is now known as NihabaAshi_away

<szubaark> Exited all Long ES at 1373 --> 0 «« paper »» 10:33

<robert> Anyone have any suggestions for the XP taskbar clock to display seconds? 10:41

<megus> no way of doing that 10:43

Trading Edge:
Strategies
If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management, intermarket analysis with a money back guaranteed policy...click here.

Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<robert> yeah, maybe there's an add-on or something..

<megus> perhaps

let me look up

i found an atomic clock :) 10:44

<robert> hmm.. someone in the room mentioned that once 10:45

thnx 10:46

<megus> np

maybe i'll program it someday 10:47

<robert> ;-) 10:48

<megus> Long ES @ 1374 10:49

just for the heck of it :)

aiming at 76.5

<szubaark> Shorts ES @ 1373 «« paper »» 10:50

typical Bush reaction from market 11:04

exit stop moved to breakeven ES @ 1373 «« paper »»

expecting volatility spike soon, hopefully to downside, im Short 11:18

* NihabaAshi_away is now known as NihabaAshi 11:20

<X> #FuturesTrades Info -> I am only trading the first few hours of each trading day for the remainder of the week due to tax preparations. 11:27

<szubaark> exit stop moved to breakeven ES @ 1368 «« paper »»

<megus> szu, what signals you the spike?

that rise in volume? 11:28

<szubaark> i dont look at Volume.. it was a lot of things, Bush, Euro,Gap, retrace off Overnight 11:29

<NihabaAshi> Long ER2 @ 704.90 -> small size

intuition trade

Exited ER2 Long @ 704.10 --> - 0.8 11:30

Reverse and Enter Short ER2 @ 704.10

<szubaark> looked like for a while market for ready to retrace that last Volatility spike

nice reversal Niha :)

<NihabaAshi> Covered ER2 Short @ 703.60 --> + 0.5 11:32

<megus> usually when i reverse, i lose on both occasions :) 11:33

missing out the first trade's whole movement

<pw998> same here

<megus> unless it's really a scalp

<NihabaAshi> szu...Gold and Oil helped on that one by giving me heads up was about to happen. 11:34

<megus> nihaba, which indices do you keep on watch?

<NihabaAshi> All the major indices

<megus> AMEX oil & gas? 11:35

<NihabaAshi> Yes

<megus> i'd have to take time to experience it, i guess 11:36

otherwise, it'd just work against me

<pat255> invese relation N?

<NihabaAshi> none that i know about

<pat255> k ...just check

<NihabaAshi> Long ER2 @ 702.80 -> small size 11:38

intuition trade

<szubaark> Niha u still watch Euro for your Volatility Analysis with ER2?

Covered all Short ES at 1365.25 --> + 7.75 «« paper »» 11:39

Buys ES @ 1365.50 «« paper »» 11:51

<megus> nice move on the es, szu

<szubaark> thanks

<Kn-Es> lgn 65 11:54

s/l 63.50

<NihabaAshi> Exited 1/2 ER2 Long @ 704.10 --> + 1.3 11:55

<szubaark> exit stop moved to breakeven ES @ 1365.50 «« paper »»

<NihabaAshi> szu...I use EuroFX only when to confirm contracting volatility if I'm not sure that it is contracting. 11:57

* codehead_afk is now known as codehead

<NihabaAshi> Thus, if I'm sure its contracting in ER2...I don't bother looking at EuroFX

<Kn-Es> out 3/4 67.50 + 2.50

<NihabaAshi> Usually (9 out of 10) I know if its contracting or not

<pat255> N just confirm ...if oil/gold up u are bullish on futs? 11:58

<NihabaAshi> Bullish and Bearish ONLY if I'm already in a trade...not before. 11:59

<pat255> i c...ty

<Kn-Es> cons vol es 6 min

out 2 67.00 .......... + 2.00 12:00

<NihabaAshi> pat255...right now both Oil and Gold are retracing a little...

I'm now looking at a possible exit of my remaining Long contract 12:01

<pat255> y N

<NihabaAshi> Exited Remainder ER2 Long @ 703.90 --> + 1.1

In contrast, my trailing stop was @ 702.90 12:02

<pat255> c what u mean ..

<NihabaAshi> I also exited to protect profits but exited within "contracting volatility"...

That allows me an opportunity to re-enter another Long position not too far away from the current price action because contracting volatility is a big ALERT I may soon get another trade signal. 12:03

Thus, right now is not the time for me to go to the toilet

:) 12:04

<szubaark> :)

<pat255> thks N

<Kn-Es> out 1 66.00 .......... + 1.50 12:07

66.50

out 1 66.00 .......... + 1.00 12:08

<szubaark> Exited all Long ES at 1365.50 --> 0 «« paper »»

<Kn-Es> rev 66 12:09

s.l 68

out 3/4 64.50 + 1.50 12:11

out 2 65 + 1.00 12:13

<NihabaAshi> Long ER2 @ 703.50 -> small size 12:14

1 only

DAX trying hard to roll over again 12:15

downward

Exited ER2 Long @ 704.30 --> + 0.8 12:17

I'm done trading for the day...not much profits but it is profitable. 12:18

<pw998> have fun doing your taxes! :) 12:19

<megus> nice consolidation, would've bought at support line 12:25

<rickf_> test 12:28

<Kn-Es> srt 68 12:31

<Tim_a1> backtested the 2/13-2/22 zig zag 12:32

<Kn-Es> sl 70 12:33

<codehead> YM low was 9 ticks away from .382 retracement of the 601 point move up 12:45

Ym consolidated in this area on the way up too 12:46

<megus> Long ES @ 1369 -> small size 12:48

Exited all ES Long @ 1368 --> - 1 12:53

:)

paper, of course

<robert> Shorts ES @ 68.75

Covered all ES Short @ 67.50 --> + 1.25

<Kn-Es> nice trade robert

<robert> thnx 12:54

<szubaark> yup, nice scalp 12:57

* NihabaAshi is now known as NihabaAshi_away 12:59

<Kn-Es> out 7/8 66 + 2.00 13:01

out 2 67.00 + 1.00 13:07

add 69.50 13:09

rev 70 13:10

out 7/8 71 + 1.00

rev 70

out 7/8 69 + 1.00

s.l 71 13:11

out 70 13:12

all

0.00

srt 70

2 con

s.l 71 13:13

tp1 ---> 68 13:16

tp2 ---> 67

<Andy> Shorts ER2 @ 707.6 «« paper »» 13:17

Covered 1/2 ER2 Short @ 706.4 --> + 1.2 «« paper »» 13:19

<Kn-Es> out 1 68.00 +2.00 13:20

<Pepe> nice Andy 13:21

<Kn-Es> s/l 70

<rickf_> vn

<Kn-Es> 0.00

<Andy> thanks guys

<Kn-Es> nice trade Andy 13:22

<Andy> thanks KN!

Covered Remainder ER2 Short @ 707.4 --> + 0.2 «« paper »» 13:26

Shorts ER2 @ 706.9 «« paper »» 13:27

Covered 2/3 ER2 Short @ 705.7 --> + 1.2 «« paper »» 13:29

<Pepe> very nice Andy

<Andy> muchos gracias, Pepe :) 13:30

<Kn-Es> out 1 66.00 + 4.00

rev

out 7/8 67 + 1.00

s/l 64 13:31

<X> #FuturesTrades Info -> I am only trading the first few hours of each trading day for the remainder of the week due to tax preparations. 13:33

<Kn-Es> out 1 67.50 + 1.50

s.l 65 13:35

<pw998> quitting for the day, good luck! 13:40

<Kn-Es> lng 65.00 13:41

s.l 64

out 7/8 66.50 + 1.50 13:42

<Andy> Covered Remainder ER2 Short @ 705.2 --> + 1.7 «« paper »» 13:43

<Kn-Es> out 1 67 + 2.00

sl. 65 13:44

0.00

out 1 68 + 3.00 13:47

tp1 69 tp2 70

out 1 69 + 4.00 13:59

add 67 14:01

2 con

out 1 67.00 68.00 +1.00

out last 67.00 68.00 +1.00 14:02

add 66.50

2 con

out all 66.50 67.50 +1.00 14:03

add 1 68 14:04

add 1 67.50 14:11

out 67.50 69 +1.50 14:12

out 1 68.00 69.00 + 1.00 14:13

add 1 68

out 1 65.00 70.00 + 5.00 14:16

out 1 68.00 69.50 + 1.50

out all

lng 69.50 14:17

2 con

bad call

out 1 71.50 + 2.00 14:19

some how saved

tp 73.75 14:21

sl 67.50

out 1 69.50 73.75 + 4.25 14:24

srt 73.25

out 7/8 72.25 + 1.00

sl 24.25 14:25

74.25

tp 1 71.25

tp 2 70.25

tp 3 69.25 14:26

sl 74.75 14:29

out 1 72.25 1.00 14:30

<szubaark> Shorts ES @ 1371.25 «« paper »» 14:42

Covered all Short ES at 1372 --> - 0.75 «« paper »» 14:43

Buys ES @ 1371.75 «« paper »» 14:44

<Kn-Es> srt 74.25 14:47

out 7/8 73.25 + 1.00 14:48

s.l 75.75

<codehead> YM above has potential retest of 12648 hod and 12652 .500 retrace 14:49

and the gap, of course

<szubaark> Exited all Long ES at 1372.50 --> + 0.75 «« paper »»

<Kn-Es> out 2 72.25 + 2.00 14:50

<szubaark> dont like this action, No Followthru 14:52

and i dont like to scalp for ticks 14:53

<rickf_> weird tight range most of the day

<Kn-Es> well, change ur trading as the market changes, thats my thinking 14:54

we dont have another choice

<silo> actually today is a good indication of the market coming back around 14:56

speaking from a swing trader's poit of view

<Tim_a1> standing aside is another option - 1/2 the battle is knowing what you can do, and when you can do it 14:57

<silo> yeah. cash is king 14:58

:P

<Kn-Es> :)

<silo> and kn-es is the queen

<Kn-Es> nop 14:59

<silo> :P

<Tim_a1> 64 and 70 (ES) were 2 imprtant levels, and they held

i'm not as nible as kn-es, i'd like to be, but i'm not there yet 15:00

nimble

WRB Analysis

Learn More

<Kn-Es> come on

i was late, so pushing my luck 15:01

and of course bored sitting here

out 1 71.25 + 3.00 15:05

tp 69.25 15:06

sl 74.25

0.00 15:07

add 71 15:09

2 con

not going anywhere 15:15

sl 73.25 + 1.00 15:16

sl 71.00 69.00 + 2.00 15:17

out both 71s

tp 67+- 15:18

sl 74.25 67.00 + 7.25 15:28

sng 67.25

1 con

lng

sl 66 15:30

out 68.25 + 1.00 15:31

limit srt 2 con 69

sl 70 tp 66 15:32

it hit

s

if it hits

cancelled 15:35

lng 2 con 66.50

s.l 63.50

out 1 67.50 +1.00 15:38

<X> #FuturesTrades Info -> I am only trading the first few hours of each trading day for the remainder of the week due to tax preparations. 15:39

<Kn-Es> tp 69 +-

out 1 70 +2.50 15:41

<werner> wow kn

vn

<Kn-Es> thanks

srt 69.50

2 con

s/l 71.50

if loose, it will be last trade 15:42

:(

the last trade. 15:43

out 1 68.50 +1.00 15:44

tp 67+- 15:45

we may see a 10+ pts long move from 66 15:49

<werner> amazing to see you trade :) 15:54

<Kn-Es> out last 69.50 67.00 ........ + 2.50

lng

67

out 7/8 68.00 .............. + 1.00 15:55

sl 67

no space

thanks werner

tp 1 70+- tp2 ... 15:56

sl 65.25

we may hit 66

out 1 69.00 + 2.00 16:01

shuold have a long here 66.25 16:08

<Tim_a1> congrats to anyone who made money today, you really had to snatch it off the counter quick 16:09

<Kn-Es> i m hit 66.25 and out

calling it a day, take care all, good trading, see u all tomorrow 16:10

<Brutus> gn all 16:44

<werner> gn all 17:37

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Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Israel, Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:

CME Emini Futures EMD, ER2, ES and NQ

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives BUND, BOBL and Schatz

Euronext Futures FTSE-100 and CAC-40

CME Futures EuroFX EC

Treasury Futures T-Notes ZN, ZF and T-Bonds ZB

Forex Currencies EurUsd, EurYen and UsdCdn

Exchange Traded Funds DIA, IWM, QQQQ, SPY, OIH, XLE and GLD

NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

COMEX Metals Gold GC and ZG

Hang Seng Index Futures HSI

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