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#FuturesTrades April 16th Monday 2007 Trade Log

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Russell 2000 Emini ER2 Futures

Today Month Year

+3.10 +70.00 +1012.90

$310 $7,000 $101,290

Trading Perspective

Profit/Loss Statement

We all know what Asia and Europe markets were doing prior to the 0830am est U.S. Retail Sales key economic report release...they had made a very strong bullish price movement.

However, the real move occurred back on August 12th Thursday that bounced off the intraday lows via a volatility breakout price action that quickly retraced the intraday lows from the prior trading day of August 11th Wednesday.

Yep, I was long then but didn't exploit it because I went into the trade with a goal of only a few ticks worth of profits and nothing more.

Simply, I stuck to the trading plan and have no regrets about missing a huge upside price movement.

Key news of the day

Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.com
Note: I'm currently exclusively trading the Russell 2000 Emini ER2 futures even though my strategies are applicable and profitable on all the trading instruments listed towards the bottom of this webpage along with my past trade journals showing consistent profits in other trading instruments prior to exclusively trading ER2.
Further, I can switch and trade any trading instrument that's listed below at the bottom of this webpage for any trader that request such mainly because I do a lot of intermarket analysis while trading ER2.


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

Session Start: Mon Apr 16 09:25:29 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:25

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

<ItalianSharp> morning all 09:27

<pat255> gm all.. 09:28

futs gangbusters ..

only 10 pts short of high ..amazing mkt

report @10

<NihabaAshi> Asia, Europe and early Eminis...all up. 09:29

<eminitrader> welcome back IS ...hope u had a good holiday :))

<pat255> em just buy buy ...:)

<eminitrader> :)

<RussellDaytrade> gm all...rallying for another day and a hlf or so , I figure

<ItalianSharp> thanks emini, yes i had a great holiday thanks...:)

today i'll be paper trading and tomorrow maybe i'll start small...just need to get back into it...i feel totally lost now...:( 09:30

<PapaJon> gm all

<eminitrader> Shorts ES @ 1468.50 09:34

<Brutus> Shorts ES @ 1469.25 «« paper »» 09:35

<NihabaAshi> I don't do too many trades like this...it's a counter-trend trade.

Shorts ER2 @ 830.60 -> large size 09:36

However, whenever I do counter-trend trading...I try very hard to take quick profits.

<eminitrader> Covered all ES Short @ 1469.25 --> - 0.75 09:38

<NihabaAshi> Shorts ER2 @ 831.40 -> Add

<szubaark> no 10 AM News.. 09:39

<eminitrader> Shorts ES @ 1469.50 09:40

looks like NQ will pull it down a bit

<NihabaAshi> Covered 1/2 ER2 Short @ 831.20 --> + 0.2 09:41

Shorts ER2 @ 831.30 -> Add 09:42

<eminitrader> Covered all ES Short @ 1470.50 --> - 1

<NihabaAshi> Covered ER2 Short @ 831.70 --> - 1.1 09:43

Reverse and Enter Long ER2 @ 831.70

<eminitrader> Shorts ES @ 1471.50 09:44

<NihabaAshi> Long ER2 @ 832.30 -> Add

<Brutus> Shorts ES @ 1471.5 -> Add «« paper »»

<eminitrader> nice pa setup niha on the 3 min er2

<NihabaAshi> Exited all ER2 Long @ 832.50 --> + 1 09:47

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<pat255> vn niha ...tuff to go L but that was the play 09:48

<NihabaAshi> Yeah...tough trade for me...I scouted out a possible Long at 831.50 - 831.70 before I even took the Short. 09:49

<venedom> gm

<NihabaAshi> Long ER2 @ 831.70 -> large size 09:55

<Brutus> Covered all ES Short @ 1470.5 --> - 0.25 «« paper »» 09:56

<NihabaAshi> Exited all ER2 Long @ 832.00 --> + 0.3 09:57

<Brutus> 1000/1400 Feb Business Inventories +0.2%

<NihabaAshi> Shorts ER2 @ 831.50 -> large size 09:58

Where I live at we are in the middle of a snow storm and ice storm... 10:01

Lights has just started flickering on and off :(

<pat255> oh boy ..geez have to put up with weather stuff too ..as a trader..beside the other things 10:02

<ItalianSharp> you serious niha? where i live at it's about 90 degrees outside...:)

i can't believe you still are getting snow in mid april... 10:03

sounds like it's been a very snowy season...hasnt it?

<NihabaAshi> That's normal to be still getting snow here at this time of the year...

Covered all ER2 Short @ 832.00 --> - 0.5

What's not normal is to have a snow storm and ice storm. 10:04

<eminitrader> Shorts ES @ 1471.50 -> Add

<NihabaAshi> Shorts ER2 @ 832.10 -> large size 10:05

<szubaark> Volatility spike coming up.. but which way? :)) 10:10

<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)

<szubaark> Shorts NQ @ 1841.50 «« paper »» 10:11

<NihabaAshi> Volatility spike coming...I just don't know which way. 10:12

WRB pt level now and a shallow one at that :( 10:14

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={f548d 67e-f0a4-4df6-b115-6599619e0397} 10:16

<RussellDaytrade> 824.82 is my current large dn target. today is a hangtime kinda day, so targets may 1) take their times, 2) take the scenic route, ie, deviate from a fair trajectory, and 30 may be muted due to the thrust up. i think it robbed some from tomorrow on this move, which helps support a full large target down. :) 10:19

<NihabaAshi> Covered 1/3 ER2 Short @ 831.00 --> + 1.1

<szubaark> exit stop set NQ @ 1841.50 «« paper »» 10:20

<venedom> Shorts ER2 @ 831 -> large size 10:21

<szubaark> Covered all Short NQ at 1839 --> + 2.5 «« paper »» 10:23

<NihabaAshi> Geeesh...

<eminitrader> Covered ES Short @ 1470 --> + 1.5 10:24

Reverse and Enter Long ES @ 1470

<NihabaAshi> ER2 just won't drop :(

<venedom> Covered all ER2 Short @ 830.80 --> + 0.2

<NihabaAshi> It should have easily tested the 830.00 price area by now.

<venedom> Long ER2 @ 831.20 10:26

Exited all ER2 Long @ 830.80 --> - 0.4 10:28

<Brutus> YM hitting highs 10:36

<ItalianSharp> this is a classic creeping uptrend with very low volatility...typical of creeping uptrends 10:37

<pdays> Shorts ER2 @ 831.5

<eminitrader> Exited 1/3 ES Long @ 1472 --> + 0.5 10:39

<NihabaAshi> Covered all ER2 Short @ 832.00 --> + 0.1

<eminitrader> thats + 2

<pat255> vn em ..

<eminitrader> thats pat ... 10:40

shld see uptrend till pm ...as per my read ..may tank ..but not as of now ..maybe later 10:41

<pdays> Covered all ER2 Short @ 832.6 --> - 1.1 10:44

<NihabaAshi> Shorts ER2 @ 833.10 -> medium size 10:46

Volatility dropping too fast for a Short like this :( 10:49

Looking to dump or reverse. 10:50

Covered ER2 Short @ 833.20 --> - 0.1

Reverse and Enter Long ER2 @ 833.20

Exited all ER2 Long @ 833.70 --> + 0.5 10:52

volatility increasing now with smaller ranges. 10:56

Shorts ER2 @ 833.50 -> small size

Volatility declining...I'm expecting another volatility spike here soon. 11:00

I'm looking to dump into a WRB pt level or reversing my position.

<eminitrader> Exited 1/3 ES Long @ 1473.75 --> + 3.75 11:08

<Brutus> Review of U.S. Economic Data for Monday, April 16th 11:17

<NihabaAshi> Covered all ER2 Short @ 833.30 --> + 0.2 11:19

<AmazingJason> Long ER2 @ 833.40

<NihabaAshi> Be back later...gotta do some shoveling outside in the snow storm... 11:20

May also get lucky and shovel some poor trading too :(

<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) 11:22

<eminitrader> :)) 11:23

<AmazingJason> Exited all ER2 Long @ 833.60 --> + 0.2 11:30

<eminitrader> Exited 1/3 ES Long @ 1475 --> + 5 11:36

holding 1

<werner> nice emini 11:39

<eminitrader> thx W

<Brutus> Shorts ES @ 1476 «« paper »» 11:46

<NihabaAshi> Just got back from doing some shoveling...wet snow is the worst :(

Nearby city power went out... 11:47

<RussellDaytrade> when i said 835 yesteday. i thought it would take until Tuesday to arrive. :)

<NihabaAshi> I'm reducing my position size down to 1-2 contract trading only just in case the power goes out and I don't want to get caught with some size. 11:48

ER2 not too far away from those February highs. 11:51

<Brutus> Covered ES Short @ 1476 --> 0 «« paper »» 11:52

sell limit to enter short ES @ 1447.5 «« paper »» 11:55

* codehead_afk is now known as codehead 12:30

<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) 12:31

<RussellDaytrade> nice hangtime...may be near an end 12:53

<naked> locals have been buying the SPs all day long. In my opinion, we could potentially selloff and get the locals stuck. IF so, we could witness a very interesting phenomena of locals pushing the markets lower by being forced to sell. 13:34

<RussellDaytrade> beautiful price structure thus far today. 13:43

<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)

<RussellDaytrade> new downside target is now 827.4 13:44

<naked> to summarize, ER2 has traded to new contract highs. 7400 more contracts traded at the ASK than at the BID. Since trading 835.50 approximately two-hours ago, we have failed to find continued buying. Merrill covered their shorts (approx > 2000cts in SP) and Goldman entered into a new short position. If NYSE TICK spikes below -600 and $VIX spikes higher, than we will have a confirmed long-liquidation short signal. A br 13:48

violates the premise of this trade idea...

******* -600 tick + $vix spike here! long liq mode 13:59

* naked shorts ER2 aggressive 833 14:02

<RussellDaytrade> it sure 'looks like' the downside will gain more traction. i expect it will gather steam / build momentum, to the dnside, little by little, but in a steadily growing manner.

<naked> notable that paper has been selling to locals... FYI 14:08

* szubaark is now known as szubaark_away 14:37

<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) 14:55

<NihabaAshi> Long ER2 @ 835.60 -> small size 15:35

1 contract only

<naked> ER2 has traded to new session highs at 836.20, but ES YM and NQ are still below their previous session highs. ER2 currently has 10k contracts traded more at the ASK than at the BID. This is the highest I have ever seen it in the Russell. Not sure of the next-day implications of such a high demand for the Russell. 15:45

<eminitrader> case for a gap open ? 15:46

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<RussellDaytrade> i assume you mean gap open up EM? 15:47

<eminitrader> true Rd on the er2

if as per naked demand is more than supply ... 15:48

<RussellDaytrade> bound to be some followthru on this....my guess last Friday was rallu into Tuesday am soemtime, thought its gone farhter faster then i expected.

<naked> eminitrader -- prvt msg

-X- The BANNER Frequency has been set to 90:minutes 15:50

-X- BANNER has been turned OFF

-X- BANNER has been turned ON 15:51

<werner> gn all 15:53

<NihabaAshi> Lately when the market gets moves up strongly in the morning and keeps its gains going into the close... 15:55

It doesn't sell off.

<eminitrader> signs of a strong mrkt ?

<NihabaAshi> Could be 15:56

<eminitrader> looks like it 15:57

<NihabaAshi> Longs don't take profits (on up days) when the market moves strongly in the morning.

<eminitrader> u mean position traders

<NihabaAshi> Meant...if the buying continues into the afternoon after a strong morning...its has a strong chance to keep its gains into the close. 15:58

<eminitrader> k

Exited Remainder ES Long @ 1476 --> + 6 16:00

<NihabaAshi> This strong price movement started in the overnight trading session when in reaction to Asia and Europe. 16:02

These are tough bullish trends to jump on (Go Long at the Open) when the U.S. markets open. 16:03

<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) 16:04

<NihabaAshi> In hindsight, froma swing trader's point of view...the intraday bounce of the lows on August 12th was the key technical move. 16:05

<RussellDaytrade> today was a giveback day for me, established a short trade as prices rose this am..still short approx 4-5 dollars below mkt on both acct. not large positions in either, but large enuf to make a significant dd. will work my way out again, by the time it's all said and done. 16:06

<naked> someone just msg'd me and brought it to my attention that i didn't post the trade exit from 833.00 short earlier. I stopped out at 833.30 -- sorry for not posting guys. Just an FYI, I always always keep very tight stops. NEver are my stops greater than 10 ticks. This helps me keep my reward/risk ratio high.

<NihabaAshi> Exited Remainder ER2 Long @ 836.10 --> + 0.5 16:07

I didn't try to push it too hard today and got some needed mental rest from the markets via doing a lot of personal stuff...I've been overdue for such. 16:09

<naked> russelldaytrader: do you scale into and scale out of your "add on" positions to increase your avg price? 16:10

<NihabaAshi> Take care all and see all tomorrow. 16:11

<naked> au revior

<NihabaAshi> :)

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Mon Apr 16 16:18:34 2007 16:18

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