#FuturesTrades realtime trade posting journal on IRC Othernet server for full-time and part-time traders

April 2006 Trade Log Archived Trade Logs Trading Strategies

Light Crude Oil CL Eurex DAX EuroFX EC Russell Emini ER2 S&P Emini ES Nasdaq Emini NQ Mini-Sized Dow YM 10 Year T-Notes ZN

To see other trading instruments annotated charts...click here.

April 19th Wednesday 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.

Click here for the instructions on gaining access to #FuturesTrades.

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 (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, 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: Wed Apr 19 08:27:36 2006Session Ident: #futurestrades

* Now talking in #futurestrades 08:27

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

<NihabaAshi> Long EuroFX @ 1.23650 -> small size 08:30

Intuiton trade...2 contracts only. 08:31

No pattern signal.

Exited 1/2 EuroFX Long @ 1.23690 --> + 0.0004 08:33

Exited Remainder EuroFX Long @ 1.23660 --> + 0.0001 08:34

Shorts EuroFX @ 1.23570 -> large size 08:35

Got caught chasing...looking to dump this position.

Covered EuroFX Short @ 1.23640 --> - 0.0007 08:36

Reverse and Enter Long EuroFX @ 1.23640

:( 08:38

Exited EuroFX Long @ 1.23600 --> - 0.0004

Reverse and Enter Short EuroFX @ 1.23600

<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)

<NihabaAshi> Covered EuroFX Short @ 1.23660 --> - 0.0006 08:41

Reverse and Enter Long EuroFX @ 1.23660

First pattern signal...added 3 contracts to the position.

<pat255> Niha looks like S on eur 08:46

<NihabaAshi> My support is down around 1.23600 08:47

<pat255> k....

<NihabaAshi> Not sure if I'm willing to watch it drift that low...

If my pattern signal had occurred lower and closer to that support level... 08:48

I would have better control over this trade. 08:49

It bounced around that support and dipped below it... 08:52

Making that support weak (new pattern).

<pat255> yes ..... 08:53

may be a bit of consolidate & resume down

<NihabaAshi> It needs to get back to 1.23700 for me to have to keep my faith in this trade.

If EC can test the 1.23750 price area...it has a good chance to filling in that Dark WRB gap of 1.23910 08:58

<pat255> yes ...but can seem to hold.. 08:59

cant 09:00

<NihabaAshi> Exited all EuroFX Long @ 1.23500 --> - 0.0016

That loss puts me below an second WRB with a very low reward on any Long signals :( 09:01

<pat255> dang...:(

<NihabaAshi> I took a chance with it hit 1.23710 not to go to +1 tick breakeven... 09:02

Didn't work out.

Long EuroFX @ 1.23520 -> large size 09:03

<pat255> :(

<NihabaAshi> Low reward on this pattern signal...don't plan on holding it too long.

<pat255> L side quick out ...for any profit 09:04

<NihabaAshi> Exited EuroFX Long @ 1.23490 --> - 0.0003 09:06

Reverse and Enter Short EuroFX @ 1.23490

EC trying hard to produce that same Pattern Siganl (Long). 09:11

<pat255> yeah but very iffy ... 09:12

<NihabaAshi> Covered all EuroFX Short @ 1.23480 --> + 0.0001 09:17

+1 tick trigger was hit when it tested 1.23440

Still downside pressure via that second WRB that formed around 9am est. 09:19

Only good thing is that volatility is drying up...

<pat255> yeah...but still down ward 09:20

<NihabaAshi> Waiting and hoping a pattern signal appears soon.

Shorts EuroFX @ 1.23420 -> large size 09:21

WRB volatility spike after the volatility dried up :) 09:22

A little too late...wished it had appeared much earlier to prevent some losing trades. 09:23

<aym> At What usually you start trading EuroFx?

<NihabaAshi> I like to trade it if there's a key 0830am est report that's being hyped by the financial networks... 09:25

More volatility but that can be a double edge sword if played wrong.

Covered all EuroFX Short @ 1.23410 --> + 0.0001 09:26

Geesh...another trailing stop hit :(

That's three Dark WRB spikes...making Long signals even more risky. 09:28

<pat255> yes ...S is the play but to catch the high a bit here 09:29

<NihabaAshi> Long ER2 @ 776.30 -> large size 09:31

:( 09:32

Geeesh...what's up with the Eminis volatility so far??? 09:37

It's trading like its a holiday. 09:38

<WannaBeBOS> summer time anyway

<NihabaAshi> I see the problem...Oil. 09:39

Exited ER2 Long @ 776.70 --> + 0.4 09:40

Reverse and Enter Short ER2 @ 776.70

<aym> When you reverse and short, Do you get a short signal? 09:42

<NihabaAshi> Yes it was a short signal but I got short 3 ticks late :( 09:46

<aym> Sorry, I should ask after you close your position.

<NihabaAshi> Didn't see what was occurring in my Oil index (didn't have the chart up).

exit stop lowered ER2 @ 776.60 09:47

<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)

<NihabaAshi> Long EC @ 1.23580 Large size 09:48

ER2 wiping away my EuroFX EC losses :) 09:49

<pat255> vn niha ...:) 09:50

<NihabaAshi> Exited ALL EC @ 1.23600 ---> +0.0002

Don't need to be tinkering with EC anymore especially since I'm not trading it well today. 09:51

Will still with what's currently working...ER2.

Oil Index felled sharply...not sure if it has room for further declines. 09:52

In reference to OIX.X 09:53

Covered all ER2 Short @ 776.00 --> + 0.7

EC retraced the prior two Dark WRB volatility spikes. 09:54

Long ER2 @ 777.10 -> large size 09:57

:( 09:58

Exited all ER2 Long @ 777.20 --> + 0.1

Shorts ER2 @ 776.90 -> large size 09:59

Lets see if this time it can retest the intraday lows and go lower. 10:00

Covered ER2 Short @ 777.60 --> - 0.7 10:02

Reverse and Enter Long ER2 @ 777.60

This isn't a volatility spike so my reversal is high risk. 10:03

Now its a volatility spike. 10:04

Long EC @ 1.23800 Large size. 10:05

EC has now retraced all of those prior Dark WRB Volatility Spikes.

Exited ER2 Long @ 776.30 --> - 1.3 10:10

Reverse and Enter Short ER2 @ 776.30

Added 3 contracts.

Still holding EC to see if it can test 1.23400

I'm still looking for ER2 to make new intraday lows... 10:11

Willing to take a few hits to get it.

Exited ALL EC @ 1.23840 ---> +0.0004 10:13

I "think" I need a 773.00 to be profitable for the day... 10:14

Won't know until I take a break and open my PnL window. 10:15

<pat255> this freaking eur manged to b/e today .. 10:17

<NihabaAshi> It's 1030am est EIA Petroleum Status Report day... 10:19

<les> Shorts ER2 @ 774.3 «« paper »» 10:20

<NihabaAshi> This volatilty was expected especially via the fact Oil is above the 70 price range.

However, the low initial volatility in ER2 caught me completely off guard.

Via that volatility being very LOW.

<les> Covered 1/3 ER2 Short @ 773.8 --> + 0.5 «« paper »» 10:23

<pdays> Long ER2 @ 774.2 «« paper »» 10:24

<les> exit stop lowered ER2 @ 775.1 «« paper »»

<NihabaAshi> This will either get UGLY and make me profitable for the day via a second push downwards...

Or its going to bounce hard against me in the next few minutes. 10:25

<pdays> Exited all ER2 Long @ 774.5 --> + 0.3 «« paper »» 10:26

<NihabaAshi> EC volatility has dried up.

ER2 volatility is declining... 10:27

Big boys preparing to do something.

<les> Covered 1/3 ER2 Short @ 773.5 --> + 0.8 «« paper »» 10:30

exit stop lowered ER2 @ 774.2 «« paper »» 10:31

<jperl> ER2 testing vwap 1st StdDev

http://charts.dacharts.com/2006-04-19/JP ERL_011.png

<les> exit stop lowered ER2 @ 774 «« paper »»

<NihabaAshi> Covered 2/3 ER2 Short @ 772.30 --> + 4 10:33

I see a Dark Hammer Line on ER2 2min chart... 10:34

That in itself is a warning sign to watch closely any following White Lines if such should form.

If that White Line becomes a White WRB... 10:35

I'm dumping my remainders.

Nevermind...

I see something I don't like.

<les> Covered Remainder ER2 Short @ 773.9 --> + 0.4 «« paper »»

<NihabaAshi> Covered ER2 Short @ 773.80 --> + 2.5 10:36

Reverse and Enter Long ER2 @ 773.80

Geeesh...at least its fighting hard to try and move higher. 10:42

exit stop raised ER2 @ 773.90 10:43

Exited Remainder ER2 Long @ 776.00 --> + 2.2 10:45

Be right back...need to update my written journal, take my pulse rate and blood pressure (seriously) and then see if I need to do anymore trading for the day. 10:46

* NihabaAshi is now known as NihabaAshi_away

<les> Shorts ER2 @ 775.3 «« paper »» 10:47

exit stop set ER2 @ 776.3 «« paper »» 10:48

Covered 1/3 ER2 Short @ 774.8 --> + 0.5 «« paper »» 10:50

Covered Remainder ER2 Short @ 776 --> - 0.7 «« paper »» 10:55

<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, IWM, QQQQ, SPY) 10:59

<NihabaAshi_away> Long ER2 @ 777.00 -> large size 11:05

Exited all ER2 Long @ 777.10 --> + 0.1 11:06

That was a small size and not a large size...didn't change my position size default on this trade.

* NihabaAshi_away is now known as NihabaAshi 11:07

<NihabaAshi> That was a WRB Volatility Spike that didn't have any follow-through.

Volatility dried up within seconds after I entered the trade :( 11:08

Unusual for ER2 to do that.

Geeesh...almost lost all my EC profits for the month in today's trading alone. 11:20

However, I'm profitable for the day overall only because of ER2. 11:21

That +4 points on 6 contracts was the big one.

Over traded EC and can't trade it anymore today.

Have only one trade remaining in ER2 and most likely won't take it. 11:22

<WannaBeBOS> wow

<NihabaAshi> One decent loss in that last trade could put me under for the day.

Thus, I'm going to take what I got and call it a day.

Rarely do I overtrade EC because it rarely gives me pattern signals. 11:23

Wanna...see comments in other room :) 11:24

<pat255> k guys back to office ...ty all later 11:25

<NihabaAshi> Will be hitting EuroFX hard tomorrow with some size because it's a good day for such... 11:31

Hopefully, I won't need to trade ER2 afterwards. 11:32

Wow...EC now green and looks a little stable in the green. 12:07

<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) 12:08

<NihabaAshi> This is turning into one of those mini-trend day (up and down) that you really need to be on your toes to close the day at a profit. 12:09

Tough day to be a position trader out of the gate.

I tried 3 position trades today and got nailed big time. 12:10

I'm starting to think today's odd volatility is due to Earnings Reports. 12:13

* NihabaAshi is now known as NihabaAshi_away 12:42

<codehead> some big ones out tonight 12:54

AAPL INTC 12:55

EBAY

or did they this am... 12:56

no tonight i think

<togglex> short ym 11309 13:12

close short ym 11313 -4 13:15

<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, IWM, QQQQ, SPY) 13:20

<les> Shorts ER2 @ 779.4 «« paper »» 14:30

<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, IWM, QQQQ, SPY) 14:32

<les> Covered 1/3 ER2 Short @ 778.9 --> + 0.5 «« paper »» 14:35

Covered Remainder ER2 Short @ 780.3 --> - 0.9 «« paper »» 14:40

<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, IWM, QQQQ, SPY) 15:44

<NihabaAshi_away> Tough trading day out of the gate...even tougher to get back on the right track. 16:10

Didn't have any fuel left to keep it going and would have been overtrading in ER2. 16:11

Take care all and see all tomorrow :)

<codehead> cya 16:15

INTC earnings

hit 20 or so

back to 20

* DisconnectedSession Close: Wed Apr 19 16:28:55 2006 16:28

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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Trading Perspective

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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