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April 13th Thursday 2006 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.
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In addition, NihabaAshi is the only trader in #FuturesTrades that represents TheStrategyLab.com strategies.
Further, you'll find below the chat room text log of realtime trades that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est).
Also, you should read NihabaAshi's trading blog like comments (posted below after the trade posts) because sometimes the commentary will contain trading tips that are more useful than what you will see at any other futures blog.
Session Start: Thu Apr 13 08:24:25 2006Session Ident: #futurestrades * Now talking in #futurestrades 08:24 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <NihabaAshi> Shorts EuroFX @ 1.21490 -> small size 08:31 Covered EuroFX Short @ 1.21560 --> - 0.0007 08:32 Reverse and Enter Long EuroFX @ 1.21560 Keeping it small until I get a stronger signal. If I get a position reversal signal or a signal to add to my current position... 08:33 I will bring it to 3 contracts. Long EuroFX @ 1.21520 -> Add 08:35 Exited EuroFX Long @ 1.21450 --> - 0.0011 08:36 Reverse and Enter Short EuroFX @ 1.21450 Shorts EuroFX @ 1.21410 -> Add 08:38 Now at a large short position and watching closely because a bullish signal is trying to setup :( 08:39 <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, IWM, QQQQ, SPY) 08:53 <NihabaAshi> Covered 1/2 EuroFX Short @ 1.21270 --> + 0.0014 09:07 That gets me profitable for the day. <pat255> nice Niha .... damn charts stuck ..no refresh ...what a start in the am.. <NihabaAshi> Still holding 1/2 from 1.21450 09:08 I had some problems with my broker about 3mins before this trade... <pat255> nice ... <NihabaAshi> Was a little hesitant in putting on some size this morning in EuroFX. <pat255> broker is k here it is the charts not getting the feed... wow paid well... 09:09 <NihabaAshi> Then my charts stalled for about 30secs where I couldn't see the price action but the quotes were good. Simply, not easy trading this morning. <pat255> yeah with charts quotes added stress...:( 09:10 <NihabaAshi> Reality of trading. <pat255> true ...lol <NihabaAshi> I think each year I get about 3k in losses that's related to either ISP problems, computer problems or broker execution problems. 09:12 <pat255> holy toledo eur...nice niha <NihabaAshi> It should be at 1.2100 by now... It's sluggish going down which starting to make me second guess the position in thinking its going to counter-thrust back upwards strongly. 09:13 However, I don't have access to my pre-easter trading notes from the past few years to see how CME EuroFX performed via its volatility level. <pat255> looks like more downside to come ... 09:14 <NihabaAshi> I suspect the low volume and low volatility reaction to the 0830am est reports is due to the Easter holidays. <pat255> yes <NihabaAshi> We also have a lot of "Bill Settlement Announcements" today... 09:26 That usually takes out a lot of market volatilty in the Eminis and EuroFX. <mispe> Shorts YM @ 11166 09:31 Covered 1/2 YM Short @ 11160 --> + 6 Covered Remainder YM Short @ 11159 --> + 7 09:32 <NihabaAshi> If anybody ever decides to trade EuroFX... 09:33 One of the keys to learning how to trade it is to monitor how the volatility goes back-n-forth when comparing it to the Eminis. 09:34 Most of the time in the first few hours of trading...EuroFX volatility dries up whenever the volatility in the Eminis spike. 09:35 That tells me that there's program trading occurring where some key individuals are moving back-n-forth between the Euro and the Eminis and they don't like being in both at the same time. <asad> Is there a difference between trading EC and EURUSD? 09:37 <NihabaAshi> Not much...one has volume while the other doesn't. In fact, you should have both on your monitors if you plan on trading one of them because you may not get a pattern signal in one but will get a pattern signal in the other... 09:38 Allowing you to trade the one without the pattern signal based upon the price action in the other. <mispe> Shorts YM @ 11164 09:39 <les> Shorts ER2 @ 748 «« paper »» Covered 1/3 ER2 Short @ 747.5 --> + 0.5 «« paper »» <mispe> Covered 1/2 YM Short @ 11159 --> + 5 <NihabaAshi> Just as important, regardless if your trading the CME EuroFX, Euro or Forex EurUsd... 09:40 You should also have up on your monitor the U.S. Dollar Index (not the futures). 09:41 <mispe> Covered Remainder YM Short @ 11157 --> + 7 <les> exit stop set ER2 @ 748.9 «« paper »» <mispe> the U.S. Dollar Index ....? With what program... 09:42 <NihabaAshi> DX00Y <mispe> What platform Qcharts ? <NihabaAshi> All the major programs have it... <asad> Thanks. My current broker seems does not provide EC trading. <NihabaAshi> QCharts, CQG, FutureSource, Bloomberg and the likes. <les> Covered ER2 Short @ 748.3 --> - 0.3 «« paper »» 09:44 Reverse and Enter Long ER2 @ 748.3 «« paper »» <mispe> Qcharts delayed 30 min ...Buy real time is a special expense and very expensive <les> :( 09:45 <NihabaAshi> Yes...the U.S. Dollar Index is one of those Index that's associated with some expensive data feed add-on :( <les> Exited all ER2 Long @ 747.2 --> - 1.1 «« paper »» <mispe> So you have to be sure of yourself before trading Euro ! 09:46 <asad> May I know the symbol of Dollar index and EC in QCharts. 09:47 <mispe> DX00Y for the index 09:48 <NihabaAshi> QCharts has two symbols...EC06I or 6E06I that depends upon what server your own. 09:49 mispe...I can trade the CME EuroFX by itself. However, I have more opportunities at finding pattern signals if I have the Forex EurUsd and U.S. Dollar Index chart on my monitor. 09:50 This is very important especially if I'm sitting at a loss for the day. I just don't want to miss the opportunity of becoming profitable for the day. <mispe> ? <NihabaAshi> Lets put it this way... 09:51 If I get a Bullish signla in the U.S. Dollar Index... Its a Bearish signal in the EuroFX. The two have an INVERSE price relationship. 09:52 <mispe> ok <NihabaAshi> Another example...if I get a bullish signal in EurUsd but no signal in EuroFX... I can still trade EuroFX because they have almost the exact same price action. What I trying to say also applies to any other trading instrument. 09:53 <mispe> Your trade signals are the same that you use for Eminis ? <NihabaAshi> Its absolutely critical to know what other Index or trading instrument has a "relationship" with what you trade. 09:54 Yes...my trade signals are "only" applicable to what I trade. Thus, wouldn't use them on stocks if I was a stock trader. Just the same...wouldn't use what I used on stocks for futures trading :) 09:55 <mispe> Shorts YM @ 11169 09:56 <les> Shorts ER2 @ 748.4 «« paper »» Covered 1/3 ER2 Short @ 747.9 --> + 0.5 «« paper »» <mispe> Covered all YM Short @ 11159 --> + 10 <NihabaAshi> Volume and volatility is very low...expect it to get worst soon as the day progress. 09:59 Thus, I'm now convince I won't get my 1.21100 profit target for my remaining short position in EuroFX. 10:00 exit stop lowered EuroFX @ 1.21400 10:01 <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, IWM, QQQQ, SPY) 10:02 <NihabaAshi> Covered Remainder EuroFX Short @ 1.21390 --> + 0.0006 10:03 <mispe> Shorts YM @ 11170 Covered 1/2 YM Short @ 11165 --> + 5 Covered Remainder YM Short @ 11170 --> 0 10:04 <les> Covered all ER2 Short @ 749.3 --> - 0.9 «« paper »» <mispe> Shorts YM @ 11197 10:07 Covered all YM Short @ 11192 --> + 5 10:08 <les> Shorts ER2 @ 750.9 «« paper »» 10:14 Covered 1/3 ER2 Short @ 750.4 --> + 0.5 «« paper »» 10:20 Covered 1/3 ER2 Short @ 749.5 --> + 1.4 «« paper »» 10:28 exit stop lowered ER2 @ 750.5 «« paper »» <jperl> ER2 at VWAP 749.59 10:29 <les> Trailing Stop Hit ER2 @ 750.5 --> + 0.4 «« paper »» 10:31 <NihabaAshi> Long ER2 @ 750.40 -> small size 10:34 Exited all ER2 Long @ 750.50 --> + 0.1 10:39 I had a great entry but couldn't survive the wiggle. 10:40 I had a chance to grab a better entry around 750.20 but I hesitated too long. 10:41 That would have given me a decent "wiggle room" to stay in the trade. 10:42 <pdays> Shorts ER2 @ 754.1 «« paper »» 10:58 <NihabaAshi> I'm done trading. 11:07 <pat255> damn low vol move up... <NihabaAshi> Too painful to watch ER2 continue creeping upwards without me on board after getting "wiggled out" of my Long position and without getting any re-entry Long signals. 11:08 Simply, when I get too emotional I feel like I'm on the edge of doing something stupid... 11:09 Time to close the broker platform and charting program. <pat255> :( <NihabaAshi> Will surf the net now and do some personal stuff like find somebody that sells Spiderman Underwear for my 3 year old toddler that's been harassing me to buy :) 11:10 <codehead> hehe <pdays> Covered all ER2 Short @ 754.0 --> + 0.1 «« paper »» 11:11 * NihabaAshi is now known as NihabaAshi_away 11:14 <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, IWM, QQQQ, SPY) <pat255> later guys ty 11:15 * DisconnectedSession Close: Thu Apr 13 21:05:15 2006 21:05 Sponsors: QCharts #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, IWM, QQQQ, SPY) Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary that on a few occasions will contain trading tips that should help your trading as I attempt to sum up my thoughts as I traversed from the first trade to the last trade that was posted above in #FuturesTrades realtime trade posting chat room.
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ER2 EuroFX EC +0.30 +0.0025 $30.00 $312.50 Compounding Trading Profits
Someone once asked me if my methodology is so good...why don't I just trade it and compound my profits to become filthy rich instead of selling my strategies.
First of all, any profitable trader has some years underneath their belt and probably has bills (this is my situation).
I have to pay private health insurance, home mortgage, life insurance, vacations, trading expenses, give the IRS a big chunk and all the things everybody else has to pay that works for a living.
To assume traders are exempt from this reality and have the ability to take their profits and compound it into millions is absolutely either naive or ridiculous.
Also, my selling of my strategies is my way of compensating myself for the time and energy when I help other traders.
More important, I want a residual income when I'm on vacations or not trading on particular days for personal reasons and too continue making this income far into my retirement years.
This type of multi-business ownership (trading and methodology selling) seems second nature considering most of my life I've always had two jobs at the same time even when in college (two delivery jobs) many years ago in the 80's.
Today's results shown above are that of NihabaAshi only. To see his total accumulated points for the month of April...click here. To see results for the months of 2006 and prior years...click here.
Commentary by M.A. Perry (a.k.a. NihabaAshi)
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