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#FuturesTrades March 26th Friday 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.

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.

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ER2 EuroFX EC

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Support/Resistance Zones

Profit/Loss Statement

Support Resistance levels or zones are very popular among us traders. There are hundreds of different ways to come up with these numbers and hundreds of different ways of using them.

My s/r zones (not levels) are based upon particular types:

* WRBs (wide range bodies)

* Japanese Candlestick Hammer Lines

* Recent (prior) Pattern Signals that produced a profit

* Key Market Events or Breaking News

There are a few others but the above are the most important ones and all of my s/r zones are involved with volatility spikes (volatility analysis).

However, I mainly use s/r zones for scaling into a position or as profit targets when I have reason to believe they will be more suitable than WRBs as profit targets.

To give you an example of one of the above (Key Market Event) via my annotation on the ER2 chart...click here.

The link above shows a volatility spike via a disappointing Home Sales Report that raised more worries about the U.S. economy.

Key news of the day

Archived Past Results: To see my total accumulated points for the month of March...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 produce big price movement as the result of other key trading instruments in its own market or within other markets (intermarket analysis).
You can view the charts and a few clues that's associated with the key price action at our key market archives.


#FuturesTrades purpose, benefits and access info...click here.

Session Start: Mon Mar 26 09:30:15 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:30

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

<PapaJon> gm all

<NihabaAshi> Long ER2 @ 816.40 -> medium size 09:36

Long ER2 @ 816.00 -> Add 09:38

<eminitrader> Shorts ES @ 1446 09:44

<NihabaAshi> Tightning up my stop and preparing a position reversal order.

We have a pending 10am key economic report 09:45

Exited 1/3 ER2 Long @ 816.80 --> + 0.8

<eminitrader> Covered all ES Short @ 1447 --> - 1

<NihabaAshi> Exited 1/3 ER2 Long @ 816.70 --> + 0.3 09:46

Exited Remainder ER2 Long @ 816.50 --> + 0.1

Lucky escape out of this trade because the price action started becoming BEARISH after my ADD. 09:47

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<eminitrader> Shorts ES @ 1446.50 09:48

Shorts ES @ 1447 -> Add 09:50

<NihabaAshi> Key Econ Report Alert: 10am est New Home Sales...its been hyped a little (talk of the town) this morning. 09:51

<Brutus> +ve or -ve hype Niha? 09:52

<NihabaAshi> Hyped as in too many traders and advisors are talking about it.

<Brutus> ok 09:53

<NihabaAshi> Thus, I'm expecting some nice volatility starting around 0955am est. 09:54

ER2 volatility has contracted...I'm expecting a volatility spike here soon. 09:58

<szubaark> Buys NQ @ 1818 «« paper »» 09:59

<eminitrader> Covered 1/2 ES Short @ 1443.50 --> + 3.5 10:00

<NihabaAshi> That's what happens when a Econ report gets hyped all morning and in the overnight trading session.

They almost act like a FOMC announcement. 10:01

Shorts ER2 @ 814.70 -> small size

Got fills higher than that but that's my worst fill. 10:02

Covered ER2 Short @ 813.50 --> + 1.2

Holding 1 contract

<eminitrader> Covered 1/3 ES Short @ 1441 --> + 5.5 10:03

<RussellDaytrade> Covered all ER2 Short @ 812.7 --> + 2.1 «« paper »»

<eminitrader> holding 2

<NihabaAshi> Covered Remainder ER2 Short @ 812.60 --> + 2.1 10:05

Too bad I was on the small side of the "medium position". 10:06

Wish I had the other 3 contracts to bring it to a normal medium size.

<pat255> gm all..

late & at office

<NihabaAshi> eminitrader is "milking" this very nicely :) 10:07

emini...good patience on that Short and the ADD. 10:08

<eminitrader> :)) ...yes went by the daily charts

very bearish

<NihabaAshi> Now you know why I felt my exit out of the Long position at a profit was a "lucky trade" :)

<eminitrader> Covered Remainder ES Short @ 1436 --> + 10.5

actually was wondering by u didn;t reverse there 10:09

<NihabaAshi> I couldn't find a decent entry especially among the spikes prior to the drop. 10:10

<eminitrader> spike was on nq rtoo.. only es held steady

<NihabaAshi> I almost grabbed a Short @ 817.40 with some size but it then dropped to quick to around 816.80 on one of the spikes. :( 10:12

Could'uv, Would'uv and Should'uv.

<eminitrader> :)

anyways looks like we will have a couple more good trades today 10:13

<NihabaAshi> Long ER2 @ 810.90 -> small size 10:22

Long ER2 @ 810.60 -> Add 10:23

Exited ER2 Long @ 809.80 --> - 1.1 10:25

Reverse and Enter Short ER2 @ 809.80

<Brutus> Long ES @ 1434.5 «« paper »»

<NihabaAshi> Covered all ER2 Short @ 809.70 --> + 0.1 10:28

<eminitrader> Shorts ES @ 1437

<NihabaAshi> Shorts ER2 @ 809.80 -> large size

<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) 10:29

<eminitrader> Covered 1/2 ES Short @ 1434.50 --> + 2.5

<NihabaAshi> Covered all ER2 Short @ 809.40 --> + 0.4 10:30

<Brutus> exit stop set ES @ 1331.5 «« paper »» 10:31

<NihabaAshi> Shorts ER2 @ 809.30 -> large size 10:32

Covered all ER2 Short @ 808.90 --> + 0.4 10:33

<Brutus> 1st target 1441 2nd 1445

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<Brutus> 2nd May be after hrs

<werner> gm all

<NihabaAshi> Shorts ER2 @ 809.60 -> small size 10:36

<RussellDaytrade> Long ER2 @ 809.7 «« paper »» 10:38

hmmm, looks like that uptrend turned on a dime.

<NihabaAshi> Covered ER2 Short @ 8101.10 --> - 7291.5 10:39

Reverse and Enter Long ER2 @ 8101.10

ooops...will correct

Exited ER2 Long @ 8101.10 --> 0

Shorts ER2 @ 809.60 -> small size

Covered ER2 Short @ 810.10 --> - 0.5 10:40

Reverse and Enter Long ER2 @ 810.10

<eminitrader> Covered Remainder ES Short @ 1437 --> 0

<RussellDaytrade> Exited all ER2 Long @ 810.5 --> + 0.8 «« paper »» 10:41

<NihabaAshi> Exited all ER2 Long @ 810.70 --> + 0.6

<Brutus> I was very bearish in the morning just couldnt comit to an entry :(

exit stop set ES @ 1434.5 «« paper »» 10:44

<pat255> later guys @office 10:46

<Brutus> Stop at BE and near LOD as I am looking for the rest of the day to gradually (very slowly) ramp up 10:50

<eminitrader> low probility of new high today...will prolly see lower lows ...today 10:52

<Brutus> OK, Im not expecting new highs, just a long bias

<eminitrader> :) 10:53

very bearish today....will prolly see more selling in the pm...after a pull back - 1440- 1442 and prolly 1445 if the mrkt gets there 10:54

<RussellDaytrade> Long ER2 @ 809.5 «« paper »» 11:03

<Brutus> Exited all ES Long @ 1434.5 --> 0 «« paper »» 11:04

<NihabaAshi> Shorts ER2 @ 808.50 -> small size 11:05

Covered all ER2 Short @ 808.80 --> - 0.3 11:06

<RussellDaytrade> t = 811.5

<jperl> Not happy with the price action in the last hour...enough for now... 11:07

http://charts.dacharts.com/2007-03-26/JP ERL_018.png 11:08

<NihabaAshi> Long ER2 @ 808.30 -> small size 11:16

<RussellDaytrade> iooonna mak ethhnol froom woodchippss ang swittchgraas. don't forget squirrel droppings, ole W, dink. 11:17

811.5 still on

<NihabaAshi> Exited all ER2 Long @ 809.70 --> + 1.4 11:21

<eminitrader> Shorts ES @ 1438 11:34

<RussellDaytrade> Exited all ER2 Long @ 810.7 --> + 1.2 «« paper »» 11:37

<Brutus> Question can you, legally have 2 futures accounts and have opposing positions in them, for like swing/daytrading ? 11:39

<RussellDaytrade> why not, have 10 accounts if you wanna.

<jperl> sure no problem 11:40

* Retrieving #futurestrades modes...

<RussellDaytrade> 811.2, close enuf

may not be done yet.

<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) 11:41

<Brutus> Thx guys, EMT, Niha is this correct

<RussellDaytrade> in consideration that price dropped approx 3 ticks lower then where i first set that t from, i'm gonna say that was pf good!

<eminitrader> yeah sure B...u can have 2 a/c and be in opposite side in each a/c while in the same instrument 11:42

<Brutus> Thx 11:43

<RussellDaytrade> may be a good way to go, that way one is always bound to be correct!

<eminitrader> :) 11:44

<RussellDaytrade> the t minute projection is right at this moment striking. 11:45

<eminitrader> Shorts ES @ 1439.75 -> Add

<RussellDaytrade> i doubt it'll fulfill today, but i have a larger timeframe t of 816.8 11:46

B, the above, having both a long and short open, may be a way to get long, or short, at a 'good fill price', in situations of extreme volatility. for example, if price was surging, and one didn't wanna chase it, it can be assumed that 'closing a short', will be taken at a relatively good price, (as buyers are tripping over themselves to get in some long exposure), thereby leaving an open long at the same good price, and vice 11:54

<Brutus> Yes good point RD. You save yourself the spread in a high volatility situation and even more benifits if doing some real size. 12:13

no what I said is not correct 12:15

RD I dont see any benefit 12:17

You still take a offsetting loss on the position you close

Next time I'll put my stop at the LOD - 2 ticks for a possible DB 12:21

<eminitrader> Shorts ES @ 1441 -> Add

<RussellDaytrade> yes, in re-reading through what i wrote, and reflecting, if one were closing a short, (on a hypothetical surge), one would actually be buying, and competing with others doing same, so may end up paying up. I think the jist of what i really had in mind is that one could theorically have a fast response time, with perhaps less regard for specific price, but having the ability to get net long or short very quickly, via closing 12:23

a little more up and that 816.8 will begin to become feasible, and possibly probable 12:24

<Brutus> In stocks the benefit is to overcome the downtick rule but in futures ? 12:25

<jperl> ER2 VWAP 811.56

<Brutus> Hitting 61% retrace here

<eminitrader> yep 12:26

<RussellDaytrade> perhaps an ancillary benefit is helping one to become accustomed to 'being in the market', ie, get exposed.

<eminitrader> exit stop set ES @ 1442.75 12:27

be back

Covered all ES Short @ 1442.75 --> - 6.5 12:47

<Brutus> imo its looking like a good short 12:48

<eminitrader> looks like a fade :(

got stopped out

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<RussellDaytrade> update to above..... the uptrend 'turning on a dime'.... it only took a couple three days to do so! :) 12:58

<Brutus> Shorts ES @ 1442.25 «« paper »» 13:36

exit stop set ES @ 1443.25 «« paper »»

Covered ES Short @ 1441.75 --> + 0.5 «« paper »» 13:44

<eminitrader> Long ES @ 1441.25 13:47

cld see new highs ..good probability if 1439 holds on retest 13:50

hope mrkt does'nt get into a chop 13:58

<RussellDaytrade> i'm giving that 816.8 another 40 minutes to fulfill 14:01

<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) 14:02

<eminitrader> trend change now cofirmed on the ES ....major supp 1439....shld hold today for test oh hod

<szubaark> Exited all Long NQ at 1812 --> - 6 «« paper »» 14:16

:(((

<eminitrader> Exited 1/3 ES Long @ 1444.25 --> + 3 14:18

<ItalianSharp> emini, are you bullish for the afternoon or you haven't given up on possible new lows yet? 14:24

<eminitrader> [14:02] <eminitrader> trend change now cofirmed on the ES ....major supp 1439....shld hold today for test oh hod 14:25

<ItalianSharp> sorry, didnt read that

<eminitrader> high probability of new hig now ...trend change @ 1:39 pm

<ItalianSharp> new highs would be a great comeback for the bulls 14:26

basically, new highs would erase all the bad 10am news 14:27

<eminitrader> yep ...but we never know the mrkt :))

on the other side if it breaks 1439 ...then we may see new lows ...so just go with what the flow is saying as of this moment :)) 14:29

<ItalianSharp> i only hope we arent gonna be choppin till close

<eminitrader> true ...thats one thing we dont want ...but likely ...

<ItalianSharp> we have no news nor speeches for the remainder of the day...i am starting to think we might be seeing some good ole chop 14:34

<eminitrader> hope not .. 14:36

<ItalianSharp> after the big 10am selloff volatility has dropped dramatically with price action turning into a slow uptrend...however, i didn't actually see the type of strong upthrust that could produce new highs...for me it's either new lows or chop at this point 14:38

Is Bernanke speaking by the way? 14:41

<eminitrader> the way i read the flow .... pullback to 1440-42 area was normal reactionto the initial swing...as expected... a break of that level @ 14:42

12:27 was in violation of the current trend ..

and was watching for a trend reversal ...this happend and was confirmed by pa 14:43

<ItalianSharp> yep emini...the 1439 area is key support for ES now 14:44

<eminitrader> so as of now my money is on the bull side ...barring a brek of 1430 which was confirmed as critical suppt ..with the change in trend

soory 1430 + 1439

<ItalianSharp> can anyone confirm whether Bernanke is holding a speech?

<NihabaAshi> [11:41] <Brutus> Thx guys, EMT, Niha is this correct

Brutus, you can have trades in the same trading instrument (Long and Short) via different brokers. 14:45

I've done such a few times as a hedge when I was stuck in a trade at one broker.

<eminitrader> not today IS ...think big B is on wed... 14:46

<ItalianSharp> ok thanks...i was reading a trading commentary with some Bernanke's comments on it about the YUAN 14:47

dont really know where they got those statements from

<eminitrader> wed is testimony and friday is his speech 14:48

<Brutus> OK thx wasnt sure on the rules or where you cross the line on 'wash trades' (I think) for example

<NihabaAshi> Long ER2 @ 812.20 -> small size 14:53

Exited 1/2 ER2 Long @ 812.70 --> + 0.5 15:00

<RussellDaytrade> Shorts ER2 @ 812.8 «« paper »» 15:06

<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) 15:14

<NihabaAshi> Exited Remainder ER2 Long @ 812.40 --> + 0.2 15:24

I took a gamble to try for a WRB pt3...couldn't get it...

As soon as I dumped the remainder...it goes back up :(

<RussellDaytrade> nice tight trading ranges, again, kinda like the past couple days, good action. 15:25

<NihabaAshi> I'm done for the day because that type of trade will cause damage via the "emotions" being played when it went back up after I dumped it.

Going to do my market wrap now. 15:26

* NihabaAshi is now known as NihabaAshi_away

<eminitrader> Exited 1/3 ES Long @ 1446.25 --> + 5 15:32

<werner> gn all 15:33

<ItalianSharp> well done emini 15:34

nice patience

<eminitrader> there we go ...new high for the day

thx IS

<ItalianSharp> yep...your analysis was right on target 15:35

<eminitrader> holding 3 more

<ItalianSharp> this was a nice comeback for the markets

<eminitrader> will see if i can manage another 10 pointer today ...will be cool if it happens

<ItalianSharp> im surprised eurofx has been quiet since 10am 15:36

the dollar not participating to this rally

<eminitrader> Exited 1/3 ES Long @ 1447.25 --> + 6 15:41

holding 1 15:42

<ItalianSharp> isnt it funny how the markets took a couple of mins to drop this morning and then it took them the remainder of the session to make up for the morning losses? 15:46

<eminitrader> Exited Remainder ES Long @ 1448.25 --> + 7 15:55

nice day today :)) see u all tommorow 15:56

<Brutus> Nice trading EMT cu 15:59

<RussellDaytrade> so long Em, great trading today.

nice comeback. 16:00

i'd say that 816.8 mostly fulfilled, more so than i expected., the general theme palyed out...you guessed it...close enuf! 16:02

<NihabaAshi_away> Take care all and see all tomorrow. 16:10

<Brutus> 1610 Flu-Like Symptoms Affect 85 On Plane From S Korea To US -TV 16:16

:) cul8r

* DisconnectedSession Close: Mon Mar 26 16:18:15 2007 16:18

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