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#FuturesTrades March 6th Thursday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+16.30	+61.50	+830.00
$1,630	$6,150	$83,000

Profitable Trade

1531pm - 1551pm est

Losing Trade

0953am - 0958am 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 Mar 06 09:17:21 2008Session Ident: #FuturesTrades

* Now talking in #FuturesTrades 09:17

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

<NihabaAshi> Good morning all. 09:27

<drt> gm

<Spartan> gm 09:28

<Pat> gm all

<pw998> good morning

<Spartan> Shorts ES @ 1327.25 «« paper »» 09:32

<ripsboy> gm all... 09:33

<robert> Shorts ES @ 27.70 «« paper »» 09:34

Covered all ES Short @ 25.50 --> + 2.2 «« paper »»

oops paper mode on..

<Spartan> Covered 1/2 ES Short @ 1325.50 --> + 1.75 «« paper »» 09:35

exit stop moved to breakeven ES @ 1327.25 «« paper »»

<NihabaAshi> Shorts ER2 @ 681.50 -> large size 09:37

<pdays> Shorts ER2 @ 681.1 09:39

Covered all ER2 Short @ 680.5 --> + 0.6

<NihabaAshi> Covered ER2 Short @ 680.40 --> + 1.1 09:40

pin ball machine

<szubaark> Shorts ES @ 1323.75 «« paper »» 09:41

<Spartan> exit stop lowered ES @ 1326 «« paper »»

Covered Remainder ES Short @ 1326 --> + 1.25 «« paper »» 09:43

<Kn-Es> lng 26 09:45

s.l 24 09:46

<Spartan> Shorts ES @ 1325.75 «« paper »» 09:49

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 09:51

<Spartan> Covered 1/2 ES Short @ 1324.25 --> + 1.5 «« paper »»

exit stop moved to breakeven ES @ 1325.75 «« paper »» 09:52

Covered Remainder ES Short @ 1325.75 --> 0 «« paper »» 09:53

<NihabaAshi> Long ER2 @ 679.80 -> medium size

<szubaark> Covered all Short ES at 1326.25 --> - 2.5 «« paper »» 09:55

Buys ES @ 1326.25 «« paper »»

<Spartan> Long ES @ 1325.75 «« paper »»

* subq market profile charts for today - http://www.charthub.com/chart/search/mpc hart 09:56

<Spartan> Exited Remainder ES Long @ 1323.75 --> - 2 «« paper »» 09:57

<NihabaAshi> Exited ER2 Long @ 678.00 --> - 1.8 09:58

Reverse and Enter Short ER2 @ 678.00

<Spartan> Shorts ES @ 1322 «« paper »»

<robert> Long ES @ 21.75

<Spartan> Covered Remainder ES Short @ 1324 --> - 2 «« paper »» 09:59

<robert> Long ES @ 19 10:01

<NihabaAshi> Covered ER2 Short @ 677.60 --> + 0.4

ooops

Covered ER2 Short @ 676.60 --> + 1.4 10:02

<Pat> vn n

<NihabaAshi> Took a bigger hit on that Long due to my late entry...

Paid the price for it :(

<Spartan> That was a terrible series of trades for me, I should have waited for candle confirmation. I would have been short and avoided two losing trades:( 10:05

<robert> Long ES @ 17.50 -> Add

<NihabaAshi> Long ER2 @ 674.30 -> small size 10:07

<Pepe> NIha 674.30? 10:08

<futurible> Niha,674.3? 10:09

<NihabaAshi> O 10:12

I'll fix it on my exit 10:13

correction 10:14

Long ER2 @ 676.30 -> small size

Exited 2/3 ER2 Long @ 678.20 --> + 1.9 10:15

<Pepe> very nice Nihaba

<Spartan> Shorts ES @ 1321 «« paper »» 10:18

<NihabaAshi> Exited Remainder ER2 Long @ 677.00 --> + 0.7 10:19

<Spartan> Covered 1/2 ES Short @ 1319 --> + 2 «« paper »»

exit stop moved to breakeven ES @ 1321 «« paper »» 10:20

Covered Remainder ES Short @ 1321 --> 0 «« paper »» 10:21

<robert> Exited 1/2 ES Long @ 22.50 --> + 5 10:23

Exited Remainder ES Long @ 22.75 --> + 3.75 10:24

<szubaark> nice trades robert 10:25

<robert> thnx szu 10:26

<Pepe> nice Robert 10:28

<Spartan> Shorts ES @ 1321.25 «« paper »» 10:30

Covered Remainder ES Short @ 1323.25 --> - 2 «« paper »» 10:33

Shorts ES @ 1323 «« paper »» 10:34

<NihabaAshi> Dollar still getting slammed this week :( 10:35

<Pat> big time

<tim_a1> was in a brand new walmart supercenter last night, looked around 'all of it made in china', and wondered how long can that continue? 10:37

looks like we're getting our answer

<Spartan> Covered 1/2 ES Short @ 1321 --> + 2 «« paper »» 10:40

exit stop set ES @ 1323 «« paper »» 10:41

<intowin> 18 looks good for a long

<Spartan> exit stop lowered ES @ 1321 «« paper »» 10:43

Covered Remainder ES Short @ 1321 --> + 2 «« paper »» 10:45

Shorts ES @ 1320 «« paper »» 10:48

Covered Remainder ES Short @ 1322 --> - 2 «« paper »» 10:50

<szubaark> Exited all Long ES at 1319.50 --> - 6.75 «« paper »» 10:53

Shorts ES @ 1319.50 «« paper »»

<Spartan> Shorts ES @ 1317 «« paper »» 11:13

<NihabaAshi> another support level broken

<robert> Long ES @ 16.50 «« paper »»

<Spartan> 1317.5 I meant

<NihabaAshi> Shorts ER2 @ 673.20 -> small size 11:14

Intuition trade...2 contracts only 11:15

I though it would collapse by now much further...at least another point :( 11:18

Covered ER2 Short @ 674.00 --> - 0.8 11:21

<robert> Exited 1/2 ES Long @ 18.50 --> + 2 «« paper »»

<intowin> 26 next 11:22

<Spartan> Covered Remainder ES Short @ 1319 --> - 2 «« paper »»

<robert> Exited Remainder ES Long @ 20.50 --> + 4 «« paper »»

Trading Edge:
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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)

<szubaark> Covered all Short ES at 1319.50 --> 0 «« paper »» 11:23

Buys ES @ 1319 «« paper »»

<rickf> gm all 11:24

<werner> gm rickf 11:25

<NihabaAshi> now it breaks down :( 11:35

May get another opportunity here

<szubaark> amazing fakeouts 11:38

<NihabaAshi> Long ER2 @ 674.30 -> small size

Yeah...it had me faked out from going Long @ 673.20 :( 11:39

<szubaark> so far March Price Action is shitty 11:40

<NihabaAshi> szu...I'm expecting this type of price action due to the latter month price action of February. 11:41

Reason why I've reduced my overall position size and tend to shorten my expectations. 11:42

Even my profit targets and goals are less in comparison to February.

<szubaark> seems we get one quick sneaky Volatility spike (usually 10am news) then they chop it rest of day 11:43

<NihabaAshi> Exited ER2 Long @ 673.10 --> - 1.2 11:51

Reverse and Enter Short ER2 @ 673.10

It had its chance but couldn't find a strong enough support 11:52

<szubaark> if this support holds here we goin up

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 11:54

<NihabaAshi> Covered ER2 Short @ 674.10 --> - 1 11:56

Geeesh 11:59

<szubaark> yeah, extremely frustrating day

<NihabaAshi> Look at the bright side...

Volatility is contracting a lot now.

It's going to move strongly here soon :) 12:00

<szubaark> Exited all Long ES at 1317.25 --> - 1.75 «« paper »»

Shorts ES @ 1317.25 «« paper »»

<NihabaAshi> Shorts ER2 @ 673.10 -> medium size 12:01

<szubaark> eating more Stops then i like to :((

<pw998> most of my stops got hit today

<NihabaAshi> pin ball maching price action just returned :(

All you can do is put an order out there and wait to see if it gets hit :( 12:02

<szubaark> geez, just no followthru retrace after retrace 12:03

<robert> Long ES @ 16 «« paper »»

<NihabaAshi> Covered ER2 Short @ 671.90 --> + 1.2 12:04

I'm just paying the broker only over the last several trades :( 12:06

<rickf> :( 12:07

<szubaark> creeper downtrend 12:08

<NihabaAshi> We got a nice movement out of that contracting volatility 12:12

Hopefully the pin ball machine price action doesn't return.

<robert> Long ES @ 13.25 -> Add «« paper »»

<NihabaAshi> Housing credit or Mortgage stuff seems to got this market down today. 12:17

<Pepe> yeah

<szubaark> also Oil selling off

<NihabaAshi> Long ER2 @ 670.30 -> small size 12:18

These Longs have been high risk trades all day (hindsight analysis). 12:21

:)

Someone should have warned me earlier. :) 12:22

<Celeronman37> anyone here 12:23

oops wrong window

<NihabaAshi> :)

<robert> Exited 1/4 ES Long @ 15.25 --> + 2 «« paper »» 12:25

<NihabaAshi> Exited ER2 Long @ 671.60 --> + 1.3 12:26

<robert> Exited 1/4 ES Long @ 15.75 --> - 0.25 «« paper »»

<NihabaAshi> I'm going to take a break from trading due to the fact a +1.3 per contract trade feels like a lucky trade. 12:27

Be back later.

* codehead_afk is now known as codehead 12:30

* NihabaAshi is now known as NihabaAshi_away 12:31

<szubaark> Covered all Short ES at 1315.50 --> + 1.75 «« paper »» 12:35

Buys ES @ 1315.75 «« paper »» 12:36

<robert> Exited 1/4 ES Long @ 17 --> + 1 «« paper »» 12:43

Exited Remainder ES Long @ 19 --> + 3 «« paper »» 12:44

<szubaark> Exited all Long ES at 1515 --> + 199.25 «« paper »» 13:13

Exited all Long ES at 1315 --> - 0.75 «« paper »» 13:14

Shorts ES @ 1315 «« paper »»

Covered all Short ES at 1314 --> + 1 «« paper »» 13:38

Buys ES @ 1314 «« paper »»

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 14:00

<Spartan> Long ES @ 1317.25 «« paper »» 14:05

Exited Remainder ES Long @ 1315.25 --> - 2 «« paper »» 14:15

<brotherofjared> Short ER2 669.8 (paper) 14:20

Sold ER2 667.8 -2 (glad it's paper) 14:36

correction- closed ER2 667.8

<pw998> don't you mean +2? 14:38

<Celeronman37> hi 14:39

<rickf> wild afternoon :( 14:57

<szubaark> Exited all Long ES at 1314 --> 0 «« paper »» 15:00

cant watch this any more

* szubaark is now known as szubaark_away

<ItalianSharp> price action sucks

<rickf> understatment of the day

<ItalianSharp> lol

<szubaark_away> yeah, the downtrend from Hell

<ItalianSharp> i feel we are gonna snap to the upside...YM has been holding the lows nicely 15:01

we could snap anytime

if YM makes new lows, expect a major drop because someone has been buying off the lows all day long

the 15min chart makes me wanna puke 15:02

<rickf> going down

<ItalianSharp> rick, long squeeze coming up? 15:03

<rickf> perhaps -- dax is heading south more and more

wonder if we break 12K on the dow today 15:05

* NihabaAshi_away is now known as NihabaAshi 15:06

<Spartan> Shorts ES @ 1311.50 «« paper »» 15:08

Covered 1/2 ES Short @ 1309.5 --> + 2 «« paper »» 15:10

<rickf> nice

<NihabaAshi> Long ER2 @ 667.30 -> small size 15:11

trade error...will reverse or look for a profit of a few ticks only. 15:13

Exited ER2 Long @ 666.50 --> - 0.8

Reverse and Enter Short ER2 @ 666.50

<Spartan> thanks rickf 15:14

<rickf> i sense a psychological dive if we cross 12K on the Dow 15:15

<NihabaAshi> Covered ER2 Short @ 667.00 --> - 0.5

<rickf> lotta fear

<Spartan> Covered Remainder ES Short @ 1311.50 --> 0 «« paper »»

<NihabaAshi> Long ER2 @ 667.20 -> small size 15:16

Exited ER2 Long @ 668.60 --> + 1.4 15:21

Shorts ER2 @ 668.60 -> small size 15:24

1 only...intuition trade

volatility dropping fast 15:27

Covered ER2 Short @ 668.80 --> - 0.2 15:28

Long ER2 @ 669.70 -> small size

Should'uv did a position reversal on that exit of the Short position :( 15:29

Exited ER2 Long @ 668.40 --> - 1.3 15:31

Reverse and Enter Short ER2 @ 668.40

Shorts ER2 @ 667.90 -> Add

<rickf> jeez like we're all on ES death watch :) 15:33

<NihabaAshi> Pin Ball Maching price action :( 15:35

<ItalianSharp> unreal price action again 15:37

ES is gonna crack

hope we break down hard to get out of this nasty chop

<NihabaAshi> Covered 1/2 ER2 Short @ 666.80 --> + 1.1 15:39

<ItalianSharp> nice "last hr rally" fake i must say

<rickf> 1.1 is good on a day like today, eh?

<ItalianSharp> they shook out all shorts, hooked longs, and then took it down hard...:) 15:40

sometimes they are really good at it

<NihabaAshi> Market making me earn every tick on this current trade :(

<ItalianSharp> yep...it's been tough lately

this is usually what happens when markets try to build a bottom...hopefully this temporary bottom will disappear and we'll get decent volatility again 15:41

what i really hate is when we don't fall hard...it feels like it could snap to the upside anytime 15:42

like now

<NihabaAshi> Volatility spike in ES

<rickf> shake out the stops... 15:43

<ItalianSharp> yep, before another breakdown...:)

<NihabaAshi> Nice looking higher lows in Gold since 1215pm est 15:44

DAX acting as if its found some support 15:49

Starting to look like I need to dump my Short in the next push down. 15:50

Such as now :)

<rickf> they're going to drop it into the close 15:51

<NihabaAshi> Covered Remainder ER2 Short @ 665.30 --> + 3.1

WRB Analysis

Learn More

<rickf> nice!

good way to end the day 15:52

<NihabaAshi> I'm 3 ticks below my secondary profit target

Shorts ER2 @ 664.30 -> small size

intuition trade only 15:53

:( 15:54

Covered ER2 Short @ 662.70 --> + 1.6 15:57

<rickf> :)

<NihabaAshi> That was an early exit :) 15:58

I'm expecting a phone call and the phone started ringing...I dumped my position to answer the phone. 15:59

Some guy had the wrong number :(

* NihabaAshi is now known as NihabaAshi_away 16:02

<Brutus> gn a33 16:14

<werner> gn all 16:31

* sep34 is now known as sep34_away 16:42

* codehead is now known as codehead_afk 21:43

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htmSession Close: Fri Mar 07 00:00:01 2008 22:18

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We are proud to say that our chat room members are from the following geographical areas in the world:

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

Last of all, if you have any questions about any of the above commentary, specific trades et cetera...

Don't hesitate to ask your questions and we'll reply back as soon as possible.