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#FuturesTrades April 9th Monday 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 to be among profitable traders that fulltime or part-time as day traders, swing traders or position traders.

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.

Therefore, do not use #FuturesTrades to judge the merits of TheStrategyLab.com strategies due to the fact that members of #FuturesTrades are using their own trade methodology.

Fee-based clients of TheStrategyLab.com strategies use the private IRC rooms called #TheStrategyLab, #SwingTradingTSL or their own private chat room to post their trades with commentary.

Further, you'll find below the #FuturesTrades chat room text log of realtime trades (real money and simulator) to be timestamp to help correlate the trades with your charts and the 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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Russell 2000 Emini ER2 Futures

Today Month Year
-14.30 +9.90 +952.80
($1,430) $990 $95,280

Post Easter Holiday Strong Trend Day  

Profit/Loss Statement

I enter the trading day with a trading plan that today or tomorrow will produce a trend day and that I'm willing to ignore my normal trading plan to try and catch a big trading day.

Unfortunately, a trend day did not appear and I ended the trading day at a loss.

Other than that, a lot of little things I did wrong that could have produced a small profit for the day had I done those things correctly.

Nothing else to say other than that I will trade a lot better tomorrow especially since I know exactly what I did wrong today along with knowing how to prevent such problematic trading from occurring tomorrow.

Commentary by M.A. Perry (a.k.a. NihabaAshi)  

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 Apr 09 08:58:14 2007Session Ident: #futurestrades
* Now talking in #futurestrades08:58
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm
* subq MP charts with delta coloring today09:22

http://www.charthub.com/images/2007/04/0 9/MP_ER2_S2.png

http://www.charthub.com/images/2007/04/0 9/MP_ES_S2.png09:23

http://www.charthub.com/images/2007/04/0 9/MP_NQ_S2.png

http://www.charthub.com/images/2007/04/0 9/MP_YM_S2.png
<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)09:25
<pat255> gm all09:27

<PapaJon> gm all
<pat255> bulls not giving up..09:30
<jperl> ER2 Thursday VWAP 817.8109:31
<NihabaAshi>  Long ER2 @ 818.30 -> large size 09:32
<RussellDaytrade> i am still short one at ap 816.8. will wait to add if price rises sharply, significantly into the 20's
<NihabaAshi>  Long ER2 @ 818.00 -> Add 09:35
<RussellDaytrade> looks like the es may have a couple points of pullback this am...1453 area???09:36
<eminitrader> think we close beow 1456 today...cld see a huge swing down ...high probability09:37

cld be powerful if this downswing happens in the pm09:38
<pat255> looks like em ...slow vol move up last 3-4 days
<RussellDaytrade> seems abt time for a move down again, maybe not real big, just enuf to turn them down for a couple days.09:40

Iran sqauwking abt nukes again today, yet to be fully reflected in pcs, may be more down on that news09:41
<NihabaAshi>  Long ER2 @ 817.80 -> Add 09:43
Long ER2 @ 817.70 -> Add 09:47
<eminitrader>  Shorts ES @ 1455.75 09:53
<AmazingJason> little bit whippy here09:54
<jperl> ER2 VWAP 818.0509:56
<NihabaAshi> If it drops through the support area...it will be a no-brainer easy position reversal for me.10:02
Exited ER2 Long @ 816.70 --> - 1.6 10:07
Reverse and Enter Short ER2 @ 816.70
<eminitrader>  Covered 1/2 ES Short @ 1453.75 --> + 2 10:09
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   Trading Strategies ->   These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: Emini Index Futures (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), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI) 
<NihabaAshi> Reminder about what I said on Thurs last week...10:10
I'm looking for a strong trend day (up or down) within the 1 - 2 trading days after Easter Holiday.10:11
<RussellDaytrade>  Covered all ER2 Short @ 815.4 --> + 0.6 paper 10:12
<NihabaAshi> I'm willing to take a loss or two to catch a big trend.
<RussellDaytrade> + 1.4
<eminitrader>  Covered 1/3 ES Short @ 1452.75 --> + 3 10:18
gap closed on the ES
high probability trade to sell on the bounce off here10:19
<NihabaAshi> ER2 volatility dropping fast...I'm expecting a volatility spike here soon...10:22

Hopefully, it goes my way.

Covered all ER2 Short @ 815.50 --> + 3.4 10:23

That's incorrect math by the script...10:24

Should have said +1.20 and not +3.4

Shorts ER2 @ 815.30 -> large size 10:26
<RussellDaytrade> i have an up t of 817.5
<NihabaAshi>  Shorts ER2 @ 815.60 -> Add 10:31
<eminitrader>  Shorts ES @ 1454.25 -> Add
<RussellDaytrade> this is usually the point at which it splikes up and begins to gaff the shorts10:35
<NihabaAshi> Whatever it does...I hope if does it with some "volatility" and not via one of those "creeper price action".
Its just too tough to get follow-through on the trades when doing a "position reversal" when its a "creeper price action" instead of a volatility spike.10:36
<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)10:37
<RussellDaytrade> yes, volatilty has really dried up, and compressed ranges ove the past 3 days, if one excludes that early am spike the thrid day back
could be more of the same today
<NihabaAshi>  Shorts ER2 @ 815.70 -> Add 10:39
<RussellDaytrade> also, as an indicator / tell, if it does not spike up right about now...as it usually does, may be indicative that 'something is different' today, and to no longer ecpectt he usual
<NihabaAshi>  ER2 volatility declining steadily now...I'm expecting a volatility spike here soon.10:40
<Brutus> RD if you are expecting lower prices the next couple of days why did you cover all of your shorts?
<RussellDaytrade> thats my style of trading, looking to go short again at higher prices, which i am expecting to see10:41

very muted follwthru on that spike just now, no vim or vigor to it10:43
<NihabaAshi>  Covered all ER2 Short @ 816.00 --> - 1 10:44
Shorts ER2 @ 815.90 -> large size
It's time to abandon my goal of catching a trend day for today and go back to day trading instead of trying to hold a position trade all day.10:48
Will try again tomorrow to catch a trend day with some size and hold it most of the day.
<jperl> ER2 VWAP 816.93

peak volume 815.5710:49
<eminitrader>  Covered all ES Short @ 1454.25 --> + 1.5 10:51
still a good probability of new lows10:52
Shorts ES @ 1454.75 10:53
<RussellDaytrade>  Shorts ER2 @ 816.2 paper 10:54

still very early in the life-cycle of this setup to be going short, buts thats alright, i want it to go higher, even as i am short.10:55
<Brutus>  sell limit to enter short ES @ 1455.25 paper 10:56
<eminitrader> es i think has reached its puyllback level ...hopefully continue its down move...unless there is a chop
<pdays>  Shorts ER2 @ 816.3
<RussellDaytrade> time has just expired on the 817.5 call. possibility of a bigger up target of 822.6. hope so.10:57
<eminitrader> i dont think er will touch 819 again today10:59
i dont think = very low probability11:00
<jperl> ER2 back to VWAP...

time for a break....

this mornings trades here....11:01

http://charts.dacharts.com/2007-04-09/JP ERL_014.png
<NihabaAshi>  Covered all ER2 Short @ 817.90 --> - 2
<Brutus>  Shorts ES @ 1455.25 paper
<NihabaAshi>  Long ER2 @ 817.00 -> large size
<Brutus>  Shorts ES @ 1455.75 -> Add paper
<NihabaAshi> Back to day trading mode of a range...will look for a trend tomorrow.11:02
<eminitrader>  Shorts ES @ 1455.75 -> Add 11:04
<NihabaAshi>  Exited all ER2 Long @ 817.20 --> + 0.2 11:05
<RussellDaytrade> i guess it was just a few minutes late, no biggie, missed it by a tick again, not unusual, may still get it, either way, close enuf, i'm satisfied with my price and time projections11:06
<pat255> em still feel down on es?11:13
<Brutus>  exit stop set ES @ 1457.25 paper 11:14
<NihabaAshi>  Long ER2 @ 817.40 -> large size 11:15
<pdays>  Covered all ER2 Short @ 817.3 --> - 1 11:17
<Brutus>  Covered all ES Short @ 1455.5 --> 0 paper 11:23
With current PA, Im thinking after 1130 we could hit 1458 before heading down11:27
<NihabaAshi> 15mins of a 4 tick range with contracting volatility :(
<Brutus> Many stops in the 1457 range11:28
<jperl> ER2 price action hanging aroun Peak Volume 817.4011:30
<NihabaAshi>  Exited all ER2 Long @ 817.80 --> + 0.4 11:31
<RussellDaytrade> the er stopped, and has hesitated, right at my target. like a 'good dog' it is waiting for further instructions from me, and standing obediantly by. :)

'go boy', onward to 822.6!11:32
<Brutus> Each minute reduces the probability for my outlook11:40
<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)11:46
* Nana_CO ----[ shorts ER2 @ 818.0 ]----11:47
<NihabaAshi>  Shorts ER2 @ 817.80 -> large size 11:49

I don't like price action putting pressure on me when I'm hungry to go to lunch.12:03

<RussellDaytrade> if mkt gets moving to dnside, my t for er is 811.2212:05
* Nana_CO is now known as Nana_afk12:06
<jperl> ER2 VWAP 817.0212:07
<NihabaAshi>  Covered all ER2 Short @ 818.20 --> - 0.4

I'm not sure what the heck is going on with my "script math code" but its been incorrect on many trades today.12:08

Will repost to see if my numbers get changed again...

Shorts ER2 @ 817.80 12:09

Covered ER2 Short @ 817.20 --> + 0.6

Going to lunch...be back later.
<RussellDaytrade> correction to above..dn t = 811.63
* NihabaAshi is now known as NihabaAshi_away12:10
<Brutus>  Shorts ES @ 1456 paper 12:33
exit stop set ES @ 1456.75 paper 12:35
Covered all ES Short @ 1456.75 --> - 0.75 paper 12:41
* NihabaAshi_away is now known as NihabaAshi12:46
<eminitrader>  Shorts ES @ 1457.75 -> Add 12:49
<NihabaAshi>  Shorts ER2 @ 818.50 -> large size 12:51
* Looking up thn user info...12:55
<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)12:58
<NihabaAshi> Looks like it doesn't want to give me a 818.1013:00
<eminitrader>  Covered 2/3 ES Short @ 1456.50 --> + 1.25 13:05

thats a 0.25 on the avg
<NihabaAshi>  Covered ER2 Short @ 819.00 --> - 0.5 13:20
Reverse and Enter Long ER2 @ 819.00
Exited all ER2 Long @ 818.20 --> - 0.8 13:33
* Nana_afk is now known as Nana_CO
* Nana_CO ----[ Shorts ER2 @ 818.7 Add ]----
----[ Covers ER2 @ 818.1 +.6 partial ]----13:35
<AmazingJason> think it's just going to be choppy for rest of day13:41

bouncing back and forth between support and resistance
<Brutus>  buy limit to enter long ES @ 1455.5 paper 13:47
<NihabaAshi> Geeesh...13:54
<eminitrader>  Covered Remainder ES Short @ 1455.75 --> - 1

Traders Accounting 

As traders we must treat our trading like a business if we are to succeed as traders and as a business. Therefore, waiting till the last few weeks March to prepare for April's taxes is not good for your trading and could put extra stress on your trading during tax month or the months that follow if your one of those traders that filed an extension.. Therefore, its best to be on top of your taxes throughout the year and Traders Accounting is a great resource for such especially if you want to prevent penalties or an audit several years from now.
<szubaark> the trend is NOT your friend13:55
<eminitrader> + 1 from avg
<Brutus>  Long ES @ 1455.5 paper 13:56

exit stop set ES @ 1454.25 paper 13:58
<eminitrader>  Long ES @ 1455.25 13:59
<NihabaAshi>  Shorts ER2 @ 817.30 -> large size 14:01
<Brutus>  Exited all ES Long @ 1454.25 --> - 1.25 paper
<RussellDaytrade> nice little decline14:02
<NihabaAshi>  Covered all ER2 Short @ 816.80 --> + 0.5 14:04
Long ER2 @ 816.40 -> large size 14:05
That's a short...not a long...sorry.
Shorts ER2 @ 816.40 -> large size
<RussellDaytrade>  Covered all ER2 Short @ 816.2 --> 0 paper 14:06

gonna see if i can put it back out at a better/higher price, not being agressive enuf today in building a short, had a favorable prive action profile for doing so14:07
<NihabaAshi> Volatility lost again :(14:09
<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)14:10
* Nana_CO ----[ Covers ER2 @ 815.9 +2.1 ]----
<NihabaAshi> I got the volatility I wanted but not a cover at 815.50 :(14:13
<codehead> long QM 61.650 <paper>14:20
Qm maybe too slammed to bounce at all into the close14:21
target 61.750 on QM <paper>14:23
<NihabaAshi>  Covered all ER2 Short @ 816.20 --> + 0.2 14:28

Don't want to do battle with those Hammers

It came within 1 tick of my order getting filled at 815.5014:29
<codehead> wow, i was about to type exit for 2 ticks on paper trade and it plunged--nasty crude close
<NihabaAshi> Looks like its one of those trading days :(
<codehead> you think tomorrow a trend day?14:31
<eminitrader>  Exited ES Long @ 1453.75 --> - 1.5

Reverse and Enter Short ES @ 1453.75
<NihabaAshi> Codehead...there's a high probability for tomorrow to be a trend day considering today was not.14:32
My seasonal cycle has today or tomorrow as a strong trend day.
<codehead> that's what i was thinking
<NihabaAshi> Wish I had a crystal ball to tell me today was the day to stay in bed :)14:33
<codehead> hehe, yeah

well, i kinda did stay in bed
<Brutus> 143PB?14:34
OIL FUTURES:Nymex Crude Tumbles Almost $3; Iran Worries Ease
Shorts ES @ 1454 paper 14:35
<NihabaAshi> Oil started getting hit hard around 1243pm est
<RussellDaytrade> stocks should gain some on that, all things being equal, especially that they didn't react much, negatively, on that nuke banner-waving by Iran this am14:36
if they don't, that in itself may be indicating something, which or course is also a possibility14:37
<eminitrader>  Covered all ES Short @ 1454.25 --> - 0.5 14:38
<szubaark> s stayed in bed.. gave myself a 4 DAY WEEKEND LOL14:41
Have Cash will Play :)))
<codehead> exit QM flat <paper>14:42
<Brutus>  Covered 1/2 ES Short @ 1453.5 --> + 0.5 paper 14:48
<eminitrader> looks like a nice hold B...good call14:49
<Brutus> thx, stop at BE14:50
<eminitrader> shld break the low ...high probability
<Brutus>  Covered all ES Short @ 1454 --> 0 paper 14:56
<eminitrader>  Shorts ES @ 1455 14:58
<jperl> no good fishing today.....only nibbles....14:59
http://charts.dacharts.com/2007-04-09/JP ERL_015.png
ER2 back to VWAP 817.1415:00
<RussellDaytrade> late post, short 1 81715:05

Shorts ER2 @ 817 paper

i doubt that'll be the high for the move, but you never know15:06
<eminitrader>  Covered all ES Short @ 1455 --> 0 15:15
<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)15:22
<RussellDaytrade>  Shorts ER2 @ 818.3 -> Add paper 15:45
another early salvo
according to my work, 818.45 oughtta about do it15:46
Covered 1/2 ER2 Short @ 817.4 --> + 0.9 paper 15:55
<NihabaAshi>  Shorts ER2 @ 816.60 -> large size 15:59
<codehead> crude finally gave me the bounce i was looking for--sheesh16:10
<NihabaAshi>  Covered all ER2 Short @ 817.30 --> - 0.7 16:11
<RussellDaytrade> ending the day short one, up 330 or so, less comm. slow day, didn't trade much, kept exposure very light.
thats over 2 accts
<NihabaAshi> Take care all and see all tomorrow.16:22
<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)16:34
* DisconnectedSession Close: Mon Apr 09 16:52:39 200716:52




#FuturesTrades past logs can be searched via using Google. For example, pretend you want to research what has been said about volatility analysis. Go to the Google search window below and type in "volatility analysis" site:thestrategylab.com (exactly as I typed it including the quotation marks) and you will find everything associated with those key words that were used by any member of  #FuturesTrades.



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

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

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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

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


M.A. Perry and Associates



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