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#FuturesTrades April 15th Tuesday 2008 Trade Log

 

Russell 2000 Emini ER2 Futures

Today Month Year
+15.80 +125.20 +1318.10
$1,580 $12,520 $131,810

Profitable Trade

1510pm - 1529pm est

Losing Trade

1022am - 1026am est

click on image to view actual size

 

Current Performance Record

Key Trades of the Day

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.
Time Zone Info Chat Log below is eastern standard time (est) - New York City, U.S.A and/or Montréal, Canada time zone.
Session Start: Tue Apr 15 09:30:41 est 2008 Session Ident: #futurestrades
* Now talking in #futurestrades09:30
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<drt> gm all09:31
<pat255> gm all..
still stuck @ office this week...:9
<lumenPharmer> oil crazy
<szubaark>  Buys ES @ 1338.50 «« paper »» 09:32
<talickca>  Long ES @ 1338.25 09:36

Exited all ES Long @ 1337.75 --> - 0.5

nope09:37

reverse that should be +0.5
<Spartan>  Long ES @ 1338 -> small size «« paper »»
Exited all ES Long @ 1336 --> - 2 «« paper »» 09:39
new I should have waited
knew
I meant
<eminitrader> Es support area 1329-1332 ...good area to go long09:40
<NihabaAshi>  Shorts ER2 @ 689.70 -> medium size 09:41
<eminitrader> also gap fill in that area...high prpbability of mrkt testing that level
<NihabaAshi>  Covered all ER2 Short @ 689.30 --> + 0.4 09:46
<Spartan>  Long ES @ 1336.25 -> small size «« paper »»
<NihabaAshi> I don't like how the volatility was contracting09:47
<ItalianSharp> trying to build some support although i consider it a weak area09:48
<NihabaAshi> agree
<ItalianSharp> guess they are just building some stops to make a bigger pop :)09:49
<NihabaAshi>  Shorts ER2 @ 688.70 -> small size 09:50
<talickca>  Long ES @ 1335.25 09:51
<Spartan>  Exited all ES Long @ 1334.50 --> - 1.75 «« paper »»
<NihabaAshi> I see the downside pressure but ER2 not willing to test that 688.00 price area09:52

WRB spike and I couldn't exit :(09:53

Too fast for me.09:54

May get a second chance at my own pace.
<PapaJon> it should test the 686.5 area eventually09:56
hard to be patient tho
is a creeper
<NihabaAshi>  Covered 2/3 ER2 Short @ 688.00 --> + 0.7 09:57
<KN-ES>  Covered 1/4 ES Short @ 1334.25 --> + 3
Covered 1/4 ES Short @ 1335.25 --> + 2
<NihabaAshi>  Covered Remainder ER2 Short @ 688.60 --> + 0.1 09:58
<ItalianSharp> we are getting the same tough price action from yesterday...wehre all WRBs are quickly retraced10:01
<pat255> drip drip...
<KN-ES>  Covered ES Short @ 1334.75 --> + 2.5 10:06
Reverse and Enter Long ES @ 1334.75
<talickca> get up there ES.
<KN-ES>  Exited ES Long @ 1334 --> - 0.75 10:07
Reverse and Enter Short ES @ 1334
<talickca>  Exited all ES Long @ 1333.25 --> - 2
<KN-ES>  Covered 1/2 ES Short @ 1333 --> + 1 10:08
Covered 1/4 ES Short @ 1333 --> + 1
<NihabaAshi>  Shorts ER2 @ 687.40 -> small size 10:14
<KN-ES>  Covered 2C ES Short @ 1332 --> + 2 10:15
<startrader>  Long ES @ 1332
<KN-ES> s.l 110:16
<NihabaAshi> trade error that's so far has become a lucky trade :)

I see Dark Hammer Lines in key markets now10:17
<pdays>  Long ES @ 1332.25
<NihabaAshi>  Covered ER2 Short @ 687.00 --> + 0.4 10:18

ER2 making a move on its own
<KN-ES>  Covered 2C ES Short @ 1331 --> + 3
<szubaark> ok, gap closed on ES10:19
<NihabaAshi> Oil rising and Gold declining now...mixed signals10:20
<startrader>  Exited all ES Long @ 1332.50 --> + 0.5 10:21
<pdays>  Exited all ES Long @ 1332.5 --> + 0.25 10:22
<NihabaAshi>  Long ER2 @ 687.40 -> small size

1 only
<talickca>  Long ES @ 1331.25 10:24
Exited all ES Long @ 1331.75 --> + 0.5
<NihabaAshi>  Long ER2 @ 687.10 -> small size

That's an ADD10:25
<szubaark> just creeping lower and lower
<NihabaAshi>  Exited all ER2 Long @ 686.40 --> - 0.7 10:26

-1 point on the other contract
<startrader>  Long ES @ 1330.25
<talickca>  Long ES @ 1330.75 10:27
<KN-ES>  Covered 2C ES Short @ 1330 --> + 4
<NihabaAshi> weak support
<KN-ES> should have a turning point here, or looking at 22.5010:29
<NihabaAshi>  Shorts ER2 @ 685.80 -> small size 10:30

3 only
<startrader>  Exited 1/2 ES Long @ 1330.75 --> + 0.5 10:31
<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={e1e2b 0d5-0f55-4baf-a77b-8491019a7c18}
<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.htm10:32
<startrader>  Exited Remainder ES Long @ 1331 --> + 0.75 10:33
<lumenPharmer> options exp on friday, so big boys & girls do there work on tues - wed, so maybe we get a trend day here soon
<KN-ES>  Covered ES Short @ 1331 --> + 3

Reverse and Enter Long ES @ 1331
<talickca>  Exited all ES Long @ 1331.25 --> + 0.5 10:34
<NihabaAshi> oh oh...volatility contracting now
<KN-ES> s.l 210:35
<NihabaAshi>  Covered ER2 Short @ 686.40 --> - 0.6 10:36

Long ER2 @ 686.60 -> large size
<lumenPharmer> nice page for the statistics and pivots people10:37
http://www.mypivots.com/dn/
<NihabaAshi> volatility spike so far10:38

It's got a little support from other key markets10:39

Exited ER2 Long @ 686.80 --> + 0.2 10:40
<talickca>  Shorts ES @ 1331.25 10:46
<NihabaAshi>  Long ER2 @ 687.90 -> medium size
<szubaark> showing some support here10:47
<pdays>  Long ES @ 1330.25
<NihabaAshi> I'm getting a ton of mixed signals that shows up and disappears than shows up...back -n- forth
:(
My market experience is kicking in and its saying its time for an early lunch to regain my perspective10:49
<KN-ES>  Exited 1/4 ES Long @ 1332 --> + 1
<talickca>  Covered all ES Short @ 1330.75 --> + 0.5 10:52
<NihabaAshi>  Exited ER2 Long @ 687.90 --> 0 10:53

Exited ER2 Long @ 686.90 --> - 1

ER2 dropped a full point while support was still intact :(10:54
<szubaark> annoying price action
<talickca> taking a break, brb10:56
<jperl> time to stop this morning.....lost a bunch
trades here....
http://charts.dacharts.com/2008-04-15/JP ERL4.png10:57
<NihabaAshi>  Long ER2 @ 686.60 -> medium size 10:58

pin ball machine price action that showed up about 1min before my entry

Same support area...10:59

Can't figure out if it has a good chance to hold

A prior similar trade retraced 9 ticks and took me out for only a +0.211:00

WRB pt1 right now11:01

Once again...I have a little support but Gold is giving mixed signals against every body else
<KN-ES> - defended from the breakdown but struggling to go further -11:05
<rickf> gm
<KN-ES> anad finally11:06
<NihabaAshi> :(
<KN-ES> dax is leading i guess
<NihabaAshi>  Exited ER2 Long @ 687.10 --> + 0.5
<KN-ES>  Exited ES Long @ 1330.50 --> - 0.5 11:07
Reverse and Enter Short ES @ 1330.50
Covered ES Short @ 1329.50 --> + 1
Reverse and Enter Long ES @ 1329.50
<startrader>  Long ES @ 1329.75
<szubaark> back to back WRB's
<NihabaAshi>  Shorts ER2 @ 686.60 -> medium size
<KN-ES> s.l 211:08
Exited ES Long @ 1329.75 --> + 0.25
Reverse and Enter Short ES @ 1329.75
<NihabaAshi> I'm not in touch with this price action...too easily shaken out of positions for tiny profits11:09
<KN-ES>  Covered ES Short @ 1328.75 --> + 1 11:10
Reverse and Enter Long ES @ 1328.75
<NihabaAshi> Also, my biggest moving trade is a loser.
<KN-ES> s.l 2
<NihabaAshi> Whenever I can have my biggest winner > biggest loser...
<KN-ES>  Exited ES Long @ 1329.25 --> + 0.5
Reverse and Enter Short ES @ 1329.25
<NihabaAshi> It's a high probability my trading day will result as a profit11:11
<startrader>  Exited all ES Long @ 1328.75 --> - 1
<NihabaAshi> The biggest moving position for me today is -1 point
<talickca>  Long ES @ 1328.25
<KN-ES>  Covered ES Short @ 1327.75 --> + 1.5 11:12

Reverse and Enter Long ES @ 1327.75
<NihabaAshi> weak support here
<KN-ES> s.l 2
<talickca> So close.
<NihabaAshi> Hopefully it doesn't gain any strength
<KN-ES>  Exited ES Long @ 1328 --> + 0.25 11:13
Reverse and Enter Short ES @ 1328
s.l 2
<NihabaAshi>  Covered 3/4 ER2 Short @ 685.20 --> + 1.4 11:14
<talickca>  Exited all ES Long @ 1326.25 --> - 2 11:15
<NihabaAshi> That's my biggest moving trading of the day and its a positive one :)

Odds now in my favor I'll finish the day at a profit.
<KN-ES>  Covered 1/2 ES Short @ 1326 --> + 2 11:16
Covered ES Short @ 1326 --> + 2
Reverse and Enter Long ES @ 1326
s.l 2
<startrader>  Long ES @ 1326
<rickf> KN's at it again, I see. VN, sir!11:17
<KN-ES>  Covered ES Short @ 1326.25 --> - 0.25 11:20

Reverse and Enter Long ES @ 1326.25
<rickf> short es 1325.75
<startrader>  Long ES @ 1325.50 -> Add 11:21
<talickca>  Long ES @ 1325.5
<KN-ES>  Covered ES Short @ 1325.50 --> + 0.75

Reverse and Enter Long ES @ 1325.50

s.l 2
<talickca>  Exited all ES Long @ 1326.0 --> + 0.5
<KN-ES>  Exited ES Long @ 1326.25 --> + 0.75 11:22

Reverse and Enter Short ES @ 1326.25

s.l 1

Covered ES Short @ 1326.75 --> - 0.5 11:24

Reverse and Enter Long ES @ 1326.75

s.l 1

2
<rickf> reverse to long es 1327 -1.2511:25
<talickca>  Shorts ES @ 1327.00
<KN-ES>  Exited ES Long @ 1327.25 --> + 0.5 11:26
Reverse and Enter Short ES @ 1327.25
s.l 1
<NihabaAshi>  Covered ER2 Short @ 685.50 --> + 1.1

Reverse and Enter Long ER2 @ 685.50
<rickf> exit es 1327 +011:27
short es 1327
<talickca>  Covered all ES Short @ 1326.50 --> + 0.5 11:28
<KN-ES>  Covered 1/2 ES Short @ 1325.25 --> + 2 11:29
<rickf> exit 1/2 es 1325 +2
<NihabaAshi> pin ball machine price action
<KN-ES>  Covered 1/4 ES Short @ 1225.75 --> + 101.5
<NihabaAshi> It's probing a support area
<KN-ES> nop

Covered 1/4 ES Short @ 1325.75 --> + 1.5 11:30
<NihabaAshi>  Exited ER2 Long @ 685.10 --> - 0.4
Reverse and Enter Short ER2 @ 685.10
<KN-ES>  Covered ES Short @ 1325.75 --> + 1.5 11:31

Reverse and Enter Long ES @ 1325.75

s.l 2
<rickf> exit remainder es 1326.50 + .50
  
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) 
  
<KN-ES>  Exited 1/2 ES Long @ 1326.75 --> + 1 11:32

Exited ES Long @ 1326.50 --> + 0.75

Reverse and Enter Short ES @ 1326.50

s.l 1
<rickf> short es 132611:33
hard to get my 'game' on this week :(
<KN-ES>  Covered ES Short @ 1326 --> + 0.5

Reverse and Enter Long ES @ 1326

s.l 1
<talickca> I feel the same rickf.
<NihabaAshi>  Covered ER2 Short @ 684.90 --> + 0.2 11:36
<KN-ES>  Exited 1/2 ES Long @ 1327 --> + 1 11:37
Exited ES Long @ 1326.50 --> + 0.5
Reverse and Enter Short ES @ 1326.50
s.l 1
<talickca> forgot to enter this11:38

Long ES @ 1327.0

Exited all ES Long @ 1326.50 --> - 0.5

nop reverse that should +0.511:39
<rickf> exit es 1325.75 +.2511:41
going back to paper for today
<NihabaAshi>  Shorts ER2 @ 684.30 -> small size
<rickf> 2 weeks no trades = borked mindset :(
<KN-ES>  Covered 1/2 ES Short @ 1325.50 --> + 1
<rickf> short es 1326.75 paper11:42
<NihabaAshi> sneaky11:43
<KN-ES> s.l...1327.75 tp +-2311:44
brb
need a break
<NihabaAshi>  Covered ER2 Short @ 685.30 --> - 1

Long ER2 @ 685.40 -> medium size 11:45
<KN-ES>  Shorts ES @ 1327.50 11:47
s.l 28.50
<NihabaAshi> geeesh...11:48

Gotta fight for every little tick today :(
<KN-ES> :)
<rickf> :( weird week
<talickca> Agreed, its been a battle all day11:49
<NihabaAshi> I think its gonna get more weird for the remainder of the week
<talickca> I'll be happy with break even for today.
<NihabaAshi> I've lowered my profit targets from $1,500 to $500 per day for the week...
<talickca>  Shorts ES @ 1328.0 11:50
<NihabaAshi> I obvious don't have a lot of faith in this price action
<ItalianSharp> yeah, that's smart niha11:51
i am wondering how long it'll keep being this bad11:52
this price action is good to strenghten discipline and patience
<rickf> short es 1328 add
<szubaark> yeah, look like they flipped the script again.. few weeks before we had creeper trends, which are tough also
<rickf> av price 1326 (paper)11:53
<NihabaAshi> So far...that Friday price action has set the tone for this week's trading.
Contracting Volatility
<talickca>  Covered all ES Short @ 1327.5 --> + 0.5 11:54
<NihabaAshi> That's the usual after a WRB trading day like what we saw on Friday
DAX spiked down or I got some weird data issues with the DAX
<rickf> no dax spike that i saw recently11:55
<szubaark> Overnight spiked up hard, was looking for followthru :(
<ItalianSharp> yeah, no spike in dax11:56
<talickca> Mr. Toads wild ride.11:57
<rickf> but not as fun
<talickca> Yeah this one actually hurts.
<rickf> maybe i should go back on vacation this week
<NihabaAshi> volatility is dead :(11:58
<lumenPharmer> i'm out of here, the little one is off to art class then scoccer, tuesday going to hard for me, oh well what can u do ;)12:00
<talickca> have a good day
<lumenPharmer> good luck people,take care

c ya talickca :)12:01
<rickf> cya
<NihabaAshi> I gave this trade a lot more breathing room than I normally do...12:03

Hasn't paid off so far :(

volatility is too low
<talickca> flatline over here with occasional crazy bumps12:04
<NihabaAshi>  Exited ER2 Long @ 685.50 --> + 0.1
<rickf> exit 1/2 es 26.50 +,2512:05
paper
exit remainder es 1326.50 +.0 (paper)12:06
phew, tough recovery
<talickca> =)12:07
<rickf> hey, stuck to my plan -- tis best thing
:)
<KN-ES>  Shorts ES @ 1326.75
<talickca>  Long ES @ 1326.25
Exited all ES Long @ 1326.75 --> + 0.5 12:08
<rickf> short es 1326,75 paper12:14
<KN-ES> s.l 212:17
* codehead_afk is now known as codehead12:20
<rickf> short es 1329 (add)(paper)12:30
<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.htm12:35
<PeterPanBoy> test13:25
<szubaark> hello peterpanboy
<PeterPanBoy> hello to everyone
my first time in this chat
<rickf> welcome13:26
<talickca> glad to have ya
<PeterPanBoy> thank you to everyone for warm welcome13:27
<talickca> Its very quiet right now given the time.
<PeterPanBoy> be patient with me I no use chat too much13:28
<Andy>  Shorts ER2 @ 689.6 «« paper »»
<PeterPanBoy> is it possible get the older message?
<talickca> I think the log is posted on website.13:31
<PeterPanBoy> Ok so is it not possible get by this chat all msg from start?13:33
<Andy>  Covered 1/2 ER2 Short @ 698.4 --> - 8.8 «« paper »» 13:36
oops13:37
<talickca> Not really sure. Someone else who's more familiar with this might be able to answer that
<Andy>  Covered 1/2 ER2 Short @ 689.4 --> + 0.2 «« paper »»
<talickca> I'm out early today, have a good day everyone
<rickf> later
<talickca> later rickf
<Andy>  Covered 1/4 ER2 Short @ 689 --> + 0.6 «« paper »» 13:39
<PeterPanBoy> Thank you talikkca for help anyway13:40
<Andy>  Covered Remainder ER2 Short @ 689.4 --> + 0.2 «« paper »» 13:43
Shorts ER2 @ 689.7 «« paper »» 13:45
<startrader>  Exited all ES Long @ 1331 --> + 10.5
<Andy>  Covered 1/2 ER2 Short @ 698.8 --> - 9.1 «« paper »» 13:46
oops
<rickf> nice star13:47

:( andy --- been there myself today
<Andy>  Covered all ER2 Short @ 690.1 --> - 0.4 «« paper »»
<rickf> oh
<Andy> you know you're not on when you screw up the trade AND the log entry :)
<rickf> lol13:48
<Andy>  Shorts ER2 @ 690.9 «« paper »» 13:51
glutton for ze punishment
Covered all ER2 Short @ 691.3 --> - 0.4 «« paper »» 13:54
<KiwiRoo>  Shorts ES @ 34.25
<startrader>  Shorts ES @ 1334.50 13:55
<KiwiRoo> might be too early for me :(

still lots of buyers.

maybe not :P13:56
<eminitrader> looks like some kind of pullback in this area...safe area to sell
<Andy>  Shorts ER2 @ 691.6 «« paper »» 13:57
<KiwiRoo> hope so..
<eminitrader> keep the change in trend ...in mind though
<Andy>  Covered 1/3 ER2 Short @ 691.1 --> + 0.5 «« paper »» 13:58
<KiwiRoo> +1tick..14:00

getting out for now.

unsure of tape.14:01
<Andy>  Covered Remainder ER2 Short @ 691.6 --> 0 «« paper »»
<eminitrader> pa says high prpbability pullback here ...34-36
<KiwiRoo> or it could just go sideway and setup for higher price.14:02
I thought I could get a point of out it just then...
<eminitrader> or cld go straught up :))
<KiwiRoo> oh well..there it is.. :(
<eminitrader> expect pullback 29-31 area14:03
<KiwiRoo> but its ok.. I wasn't sure so better get out :P
yes looking for L around 31.
31.50 :)14:04
baaah...14:06
<eminitrader> patience my friend..
<NihabaAshi>  Long ER2 @ 691.70 -> small size
<KiwiRoo> lol yep...!
<eminitrader> noew see this low taken out14:08
<KiwiRoo> I guess if price is still below 34.50.then pretty safe to say.. it won't go up.. oherwise L above it..14:11
<eminitrader> taking a bit too long for my liking
price shld have tested 32.50 by now14:12
<rickf> the pa today has been pretty sluggish, yes?
<eminitrader> yep....
<rickf> then it's not just me thinking that. good
<eminitrader> but the overall pa is clear...its just the ability to hld a position during the noise14:13
<rickf> yup
<KiwiRoo> true..
<eminitrader> got stopped out all my trades today...cld not hld any runners :((14:15

tired of scalping
<rickf> there weren't any decent runners that i saw...
but i've missed so much today anyway
<eminitrader> open shorts were good14:16
<KiwiRoo> I'm still looking for S below 34.50 but......
<Andy>  Shorts ER2 @ 692.2 14:17
<eminitrader> but thwen againg by the time pa confirmed the trend...cld not milk much out of it
<KiwiRoo> but trend is still UP :(
<eminitrader> yes as of now..
<KiwiRoo> but look at the failure to take price higher above 34.50.. pretty tiring.14:18

only take one big kick and price will shoot though.
<eminitrader> nothing key abt 34.50
<KiwiRoo> depending on what you're looking at :)14:19
<NihabaAshi>  Exited ER2 Long @ 691.20 --> - 0.5
<eminitrader> now comes the move
<Andy>  Covered 1/2 ER2 Short @ 691.1 --> + 1.1
<KiwiRoo> nice andy
<NihabaAshi>  Shorts ER2 @ 691.10 -> medium size
<Andy> thanks Kiwi :)
<rickf> vn
<KiwiRoo> this was the move I was looking for ealier... :(14:20
<Andy> thanks rickf
<startrader>  Covered 1/2 ES Short @ 1332.50 --> + 2
<KiwiRoo> nice star14:21
<startrader> ty
<eminitrader> excellent hold ..good patience :))
<rickf> hehehe was waiting for that drop for a while mysef :)14:22
<eminitrader> hehehehe
<startrader> It helps when you put your stops in and leave the house, nice outside.
<rickf> star - where are ya? here in dc it's gorgeous :)14:23
<eminitrader> true...

it did ttake more time than i expected..
<Nesi> hello all
<rickf> hi nsei
<KiwiRoo> Hi nesi14:24
<startrader> ohio, are the cherry blossoms out yet?
<rickf> short es 1332 paper
<PeterPanBoy> hi nesi14:25
<rickf> yep - had the parade last weekend, fireworks and all
and the pope tomorrow :(
traffic = horrible
<startrader> lol
<KiwiRoo> Looking for buy entry now.
<NihabaAshi>  Covered ER2 Short @ 690.90 --> + 0.2 14:26
<Andy>  Covered Remainder ER2 Short @ 690.9 --> + 1.3
<KiwiRoo> missed my entry by one tick 31.50 :(14:27
<eminitrader> shld get there14:29
shld = high probability
long from 32 ...my self...will add on @ 31 and 30 if it gets there14:30
<NihabaAshi>  Long ER2 @ 621.20 -> large size
<startrader>  Covered Remainder ES Short @ 1333 --> + 1.5
<rickf> exit es short 1332 +014:31

reverse long es 1333 paper
<Andy> Niha...621.20...
<eminitrader> if it breks 36...hig probability of testing 45-50 area14:32
<KiwiRoo> 34.50 :)
<eminitrader> uptrend now confirmed :))14:33

buyers will start coming in now14:34
<KiwiRoo> yep. on the break of 34.50
goldman selling light..14:35
<eminitrader> 32.50-33.50 is the new buying area
<Andy>  Shorts ER2 @ 691.9 «« paper »»
<NihabaAshi>  Exited all ER2 Long @ 691.60 -> + 0.4
<rickf> exit es long 34 +1 paper
<eminitrader> a test of that high was all that was needed as per the pa ...K

now for this trend to continue ...look for 1) 1331 to hold14:37

if it breks 1328 ...it means a trend reversal
<Andy>  Covered all ER2 Short @ 691.8 --> + 0.1 «« paper »»
<NihabaAshi>  Long ER2 @ 691.70 -> small size 14:38
<eminitrader> looks like its going to be a creeper move
<rickf> my instinct thnks downward14:39

(fwiw saying, of course)14:40
<KiwiRoo> 34.50 holds
<eminitrader> cld be right ...

but since pa is clear to me i will stick on to the trend unless it showa a change14:41
<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
<NihabaAshi>  Exited ER2 Long @ 691.00 --> - 0.7 14:42
<eminitrader> yep this is the buy area...14:43
but dont see any yet :((
<KiwiRoo> going back down at 29.50 i guess14:44
<NihabaAshi>  Shorts ER2 @ 690.70 -> medium size
<KiwiRoo> below that then its a sell off.. imo.
<eminitrader> looks like floor is set 31-33 area...14:45
up move maybe in the making14:46
<startrader>  Shorts ES @ 1333 14:47
<KiwiRoo> trend line here.14:48
<NihabaAshi>  Covered 3/4 ER2 Short @ 689.60 --> + 1.1 14:49
<KiwiRoo> rejection of 34.50 was pretty strong trendline is breaking.14:50
<eminitrader> 28-31 key area
<KiwiRoo> 29.50
<eminitrader> :)
<startrader>  Covered 1/2 ES Short @ 1331 --> + 2 14:51
Covered Remainder ES Short @ 1330.50 --> + 2.5 14:52
<PeterPanBoy> Trend looking for downside14:55
<eminitrader> not yet14:57
res now @ 32-33 area...if rejected there then a high probability of change in trend14:58
0r if it breks 28
before that
<Andy>  Long ER2 @ 688.4 «« paper »» 14:59
<PeterPanBoy> thanks for comment eminitrader15:00
<eminitrader> just my read ..p
<rickf> he's really quite good, that eminitrader :)
<KiwiRoo> 29.5 bounces just like clock work.15:01
<eminitrader> eminitarder blushes :))
<rickf> heh
<Andy>  Exited 1/2 ER2 Long @ 688.7 --> + 0.3 «« paper »» 15:02
<NihabaAshi>  Covered Remainder ER2 Short @ 689.00 --> + 1.7 15:03
<rickf> nice niha
on a day like today
<Andy>  Exited 1/4 ER2 Long @ 689. --> + 0.6 «« paper »»
<NihabaAshi>  Long ER2 @ 689.20 -> small size 15:05
<pdays>  Exited all ES Long @ 1330.25 --> 0
<Andy>  Exited Remainder ER2 Long @ 689.2 --> + 0.8 «« paper »»
<Nesi>  Shorts ER2 @ 688.80 15:07
<ItalianSharp> very choppy right now15:08
trying hard to rebound from earlier support...however, weak bounce...
need it to creep higher to short it15:09
<eminitrader> choppy = brek to the downside
<NihabaAshi>  Exited ER2 Long @ 688.70 --> - 0.5
Long ER2 @ 689.10 -> small size 15:10
3 contracts15:11
<Nesi>  Shorts ER2 @ 689.50 -> Add 15:14
<eminitrader> 32 ...was rejected fast the first time
<KiwiRoo> I think they 'll take out 29.50 this time..15:15
<eminitrader> then trend is down..
<KiwiRoo> watch for speed under that price..15:16
<eminitrader> i mean current trends changes to a downtrend
<KiwiRoo> number one pushing lower *15:17
<eminitrader> looks like res now @ 31-32
<KiwiRoo> same guy as yesterday that pushed market down.
<eminitrader> looks like it wants to test 33 real bad :)15:19
<Nesi>  Covered all ER2 Short @ 690.30 --> - 2.3 15:20
<NihabaAshi>  Exited 2/3 ER2 Long @ 690.60 --> + 1.5 15:21
  
WRB Analysis
  
<eminitrader> looks like tis up is now done

good trading all...see u tomorow15:22
<Andy>  Shorts ER2 @ 690.7 «« paper »»
Covered all ER2 Short @ 690.6 --> + 0.1 «« paper »» 15:27
<NihabaAshi>  Exited ER2 Long @ 691.40 --> + 2.3 15:29

Long ER2 @ 692.10 -> small size 15:31

1 only
<Andy>  Shorts ER2 @ 692.1 «« paper »» 15:33
<NihabaAshi>  Exited ER2 Long @ 691.50 --> - 0.6

Reverse and Enter Short ER2 @ 691.50

2 only
<Andy>  Covered 3/4 ER2 Short @ 691.5 --> + 0.6 «« paper »» 15:34
<NihabaAshi> Short doesn't look so hot for me right now...key markets still providing some support15:35

weak support area now15:38
<Andy>  Covered Remainder ER2 Short @ 690.7 --> + 1.4 «« paper »»
<NihabaAshi> Hammer Lines trying to provide some support15:39

WRB pt115:40

Covered ER2 Short @ 680.20 --> + 11.3 15:41

Covered ER2 Short @ 690.20 --> + 1.3

correction15:42
<PeterPanBoy> Ok but nice anyway
<startrader>  Long ES @ 1332.25
<Andy>  Long ER2 @ 690 «« paper »» 15:43
<silo> hey guys

anyone use tradelog for taxes by any chance?15:44
<Andy>  Exited all ER2 Long @ 690.4 --> + 0.4 «« paper »»
only got 1 on
<startrader>  Exited all ES Long @ 1334 --> + 1.75 15:45
<silo> hey andy
<Andy> yes silo15:46

hello15:47
<silo> :P
trying to do taxes on my trades right now
i need to do the taxes from jan.1 2007 to dec 31 2007 right?
or do i need jan of 2008 as well
:P
first t ime doing taxes for trading
<Andy> no, only through December 3115:48
<rickf> 12/31
<silo> k
<Andy> but silo, you need to be very careful about taxes on trading
<silo> dont know why the trade records my broker sent me is up to feburary
<Andy> PLEASE do not do them without tax advice
<silo> i am trying to use tradelog

to calculate the stuff for me15:49
<Andy> silo, listen to this carefully:
there is a feature about trading and taxes
that will forever define you as a trader once you declare it
<silo> ?15:50
<Andy> in the eyes of the IRS...and please anyone correct me if I am wrong
it has to do with how you handle your trading losses and deductibility of trading losses against gains15:51
<rickf> mark to market i think you mean
<Andy> exactly
<silo> this tradelog software has 2 packages

the regular

and one with mark to market

i dont know what that is exactly
<Andy> but, if you "mark to market" and define yourself as a trader you will not be able to
<silo> so i picked the regular one15:52
<Andy> enjoy the tax benefits of the futures
<sb> if doing m2m as a sole-proprietor, simply form an entity if you want it to change
<Andy> the income from the futures is taxed at a lower rate than trader who "marks to market"
<silo> ah ok15:53

so essentially i shouldn't pick markes to market when i try to do my taxes
<Andy> silo...I know next to nothing about taxes...please get some advice before you commit...and, btw, you might need an extension :)15:54
<silo> nah

i just need to get this software working

once this is done i'm pretty much set

:)15:55

i still got till 12am :P
<rickf> early this year
lol
<Andy> silo, you have the invincible confidence of the young :)
<silo> lol15:56
true
<startrader> Write a check and file an extension. And it's easier to ask the IRS for forgiveness than permission.
<Brutus> 04/15/2008 15:18 DJ OIL FUTURES: Nymex Crude Settles At Record $113.79/Bbl
<rickf> k guys i'm done. tty tomorrow15:58

good lukc on taxes :)
<silo> :P16:00
<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={4dd52 e5a-ec41-4cd8-8b4d-5d4685a259a9}16:02
<startrader> I could get a lot more excited about this market if the upmove volume over 4 hours could at least eclipse the downmove of the first 2 hours.16:05
<PeterPanBoy> Ok thank to everyone see ya tomorrow16:06

see you tomorrow16:10

bye16:11
<werner> gn all
<Brutus> 04/15/2008 16:15 *DJ Intel 1Q Net $1.44B Vs Net $1.64B, -12% >INTC16:15

04/15/2008 16:15 *DJ Intel 1Q Rev $9.67B Vs $8.85B, +9.3% >INTC16:16

04/15/2008 16:15 DJ Intel Sees 2Q Rev $9B-$9.6B >INTC16:17
<startrader> Someone knew that this afternoon ya think?16:18
<NihabaAshi> Take care all and see all tomorrow.16:22
* DisconnectedSession Close: Tue Apr 15 16:22:36 2008
  
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