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#FuturesTrades
April 22nd Tuesday 2008 Trade Log
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Profitable Trade 0931am - 0958am est Losing Trade 1424pm - 1444pm est |
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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.
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 22 09:18:03 2008Session Ident: #futurestrades [09:18] * Now talking in #futurestrades <@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm 09:18 [09:18] * X sets mode: +o NihabaAshi <ripsboy> gm all... 09:27 [09:27] * NihabaAshi sets mode: +v ripsboy <werner> gm all [09:27] * NihabaAshi sets mode: +v werner <drt> gm 09:29 [09:29] * NihabaAshi sets mode: +v drt [09:31] <@NihabaAshi> Shorts ER2 @ 714.10 -> large size [09:32] <@NihabaAshi> Covered 1/3 ER2 Short @ 712.80 --> + 1.3 <+werner> nice 09:32 [09:33] <@NihabaAshi> Covered 1/3 ER2 Short @ 711.80 --> + 2.3 <pat255> gm all 09:37 [09:37] * NihabaAshi sets mode: +v pat255 <Spartan> Long ES @ 1383.50 -> small size «« paper »» [09:37] * NihabaAshi sets mode: +v Spartan <+pat255> late ...@office ... em S this am? 09:44 <eminitrader> and out here pat 09:45 [09:45] * NihabaAshi sets mode: +v eminitrader <+Spartan> Exited all ES Long @ 1381.50 --> - 2 «« paper »» <+pat255> k ty <+eminitrader> looking 86-88 for re-entry <szubaark> im Looking 81 Long 09:46 [09:46] * NihabaAshi sets mode: +v szubaark [09:46] <@NihabaAshi> Covered ER2 Short @ 710.80 --> + 3.3 <+eminitrader> be careful with longs SP 1383 now res.. [09:46] <@NihabaAshi> Holding 2 contracts remainder <T-stop> v n trade 09:47 [09:47] * NihabaAshi sets mode: +v T-stop <+pat255> vn N em <+eminitrader> thx pat... <anglo> . 09:48 [09:48] * NihabaAshi sets mode: +v anglo <+pat255> yup L not looking good .. <+szubaark> Buys ES @ 1381 «« paper »» 09:49 <+eminitrader> i am long here tight stop [09:49] <@NihabaAshi> Covered ER2 Short @ 710.00 --> + 4.1 [09:50] <@NihabaAshi> Holding 1 contract remainder <+eminitrader> looks like today u will get the gap fill u were talking abt yest..szu 09:50 nice hld niha [09:50] <@NihabaAshi> Wow...what was that ? <PapaJon> yeah.. no kiddin 09:51 [09:51] * NihabaAshi sets mode: +v PapaJon <+PapaJon> boink <+eminitrader> .78-80 area good for a bounce... 09:52 <+werner> Existing Home Sales.....7min 09:53 <Bambam-77> pos trgt 74.5 09:55 [09:55] * NihabaAshi sets mode: +v Bambam-77 <+Spartan> Long ES @ 1379.75 -> small size «« paper »» [09:55] <@NihabaAshi> 10am est Existing Home Sales, Home Price Index and FED TAF Summary around the corner <+Bambam-77> lower half of gap that needs to be filled <+eminitrader> looking ripe for bounce...oversold short term timr frame 09:56 [09:57] <@NihabaAshi> volatility contracting [09:58] <@NihabaAshi> Covered Remainder ER2 Short @ 706.90 --> + 7.2 <+pat255> wtg 09:58 <Pepe> very nice trading Nihaba!!! [09:58] * NihabaAshi sets mode: +v Pepe <lumenPharmer> ES broken trendline that started on 4-15, might see 1370 soon 09:59 [09:59] * NihabaAshi sets mode: +v lumenPharmer <+eminitrader> maybe a bit lower too... <+lumenPharmer> see what the volume is like <+eminitrader> waiting for nice sell area hopefully this bounce will get us there 10:00 <+lumenPharmer> a bounce to short would be nice ;) lol got me <+Spartan> Exited all ES Long @ 1381.75 --> + 2 «« paper »» 10:01 Trading Edge: 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) <+eminitrader> out half my long <+szubaark> Exited all Long ES at 1383 --> + 2 «« paper »» <+eminitrader> nice szu <+szubaark> thanks <+Pepe> emini what do you expect today? 10:03 bullish, bearish? <+Spartan> Long ES @ 1382.50 -> small size «« paper »» 10:04 <+eminitrader> gotto go ...by 10 30 all this week...good trading all <+PapaJon> take care em <+szubaark> bye 10:05 <+eminitrader> oh..down p ...like i said will sell 86-88 area ..expecting test of 1364 on the SP ...before any meaningful bounce bye papaj szu but still got some time... 10:06 <+Pepe> thanks, have a nice day <+eminitrader> urw yes szu...plus my ma's around that area 10:08 <+lumenPharmer> sold my SKF, will buy again if ES daily uptrend can break 10:10 only way i can short in the IRA 10:11 ETF's work but they are sloppy <+eminitrader> if we see new lows in the next half hr.. with a failure at the highs on a retest ...then expect a trend down day...pattern works quite effectively...if brek of 84.50...expect gap fill wnd 1386-88 area gap fill is 1388...expect 1388-1390 area... 10:12 dont see much upside ..as of now and based on the dailies pa 10:13 hld 2 for a high probability gap fill 10:14 <+Spartan> Exited all ES Long @ 1384 --> + 1.5 «« paper »» 10:16 had to get green again 10:17 <+szubaark> Shorts ES @ 1380 «« paper »» 10:26 <+Spartan> Shorts ES @ 1381 -> small size «« paper »» 10:27 seems like it es want the 70s 10:28 <+szubaark> yes, that was a strong reversal at opening high <+Spartan> Covered all ES Short @ 1379 --> + 2 «« paper »» 10:30 <+szubaark> this could develop into a trend day <+Bambam-77> looking for 74.50 still 10:31 <+Spartan> I think if we break the 75 area hard, yes it should be a trend day, may bounce there too 10:32 [10:33] <@NihabaAshi> weak support area here for ER2 <+Spartan> Shorts ES @ 1379.50 -> small size «« paper »» 10:33 see if it rejects the 80s on this move 10:34 <+Bambam-77> pos by 11 am if not i will look for a bounce using 81.75 as trail stp <+Spartan> will go for bigger profit if so [10:35] <@NihabaAshi> Long ER2 @ 706.80 -> small size <+Bambam-77> the retest of the open says they want lower to me 10:35 <+Spartan> niha's long making my short nervous 10:36 [10:37] <@NihabaAshi> spartan...I'm Long in a weak support area. [10:37] <@NihabaAshi> I won't hesitate to dump this if it starts to move fast against me. <+Spartan> I see 10:37 <+Bambam-77> i want a retrc to add to my pos just below stp to reduce risk 10:38 [10:38] <@NihabaAshi> I'm also not looking for a big profit...just some ticks. <+Spartan> seems like the 80s are over on the es for a little bit 10:39 [10:39] <@NihabaAshi> DAX making me nervous :) <+szubaark> every chatroom was saying 1400 on ES next :)) <+Spartan> uh oh [10:40] <@NihabaAshi> Exited ER2 Long @ 707.20 --> + 0.4 <+Bambam-77> good scalp 10:40 <+szubaark> exit stop moved to breakeven ES @ 1380 «« paper »» <+Spartan> Covered all ES Short @ 1379.50 --> 0 «« paper »» 10:41 <+szubaark> Covered all Short ES at 1380 --> 0 «« paper »» <+Spartan> :( <startrader> Shorts ES @ 1379.75 10:42 [10:42] * NihabaAshi sets mode: +v startrader <+Spartan> Shorts ES @ 1379.75 -> small size «« paper »» 10:43 <+szubaark> Shorts ES @ 1380.50 «« paper »» 10:44 <+startrader> Shorts ES @ 1381 -> Add 10:45 <+Spartan> Covered all ES Short @ 1381.75 --> - 2 «« paper »» 10:52 <+Bambam-77> 82.5 is vpoc fron last 1/2 hr below ss above long 10:54 <+Spartan> Long ES @ 1381.50 -> small size «« paper »» [10:59] <@NihabaAshi> volatility has died <Andy> Shorts ES @ 1382.5 «« paper »» 10:59 [10:59] * NihabaAshi sets mode: +v Andy <@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 <+szubaark> expecting Volatility spike soon, hopefully to downside, Im Short 11:00 <rickf> gm all [11:00] * NihabaAshi sets mode: +v rickf <+Andy> Covered 1/2 ES Short @ 1381.5 --> + 1 «« paper »» 11:01 <+Spartan> Exited all ES Long @ 1381.50 --> 0 «« paper »» <Nesi> Shorts ER2 @ 708.20 [11:01] * NihabaAshi sets mode: +v Nesi <+Bambam-77> 1382.50 holding as res so far protect positions <+szubaark> again, tricky price action 11:02 <+Andy> Covered Remainder ES Short @ 1382.5 --> 0 «« paper »» Shorts ES @ 1383.5 «« paper »» 11:03 <+Spartan> Long ES @ 1382.50 -> small size «« paper »» <+Andy> Covered 1/2 ES Short @ 1382.5 --> + 1 «« paper »» 11:04 Covered 1/4 ES Short @ 1382.25 --> + 1.25 «« paper »» 11:05 <+Spartan> Exited all ES Long @ 1380.50 --> - 2 «« paper »» 11:07 <+Andy> Covered Remainder ES Short @ 1380.75 --> + 2.75 «« paper »» 11:08 <+Spartan> Shorts ES @ 1380.50 -> small size «« paper »» 11:09 [11:13] <@NihabaAshi> Long ER2 @ 707.90 -> small size <+Spartan> Covered all ES Short @ 1382.50 --> - 2 «« paper »» 11:13 [11:13] <@NihabaAshi> 1 only and will stay stay at 1 contract only for the remainder of the trading day because I've already reached my profit goal for the day. [11:16] <@NihabaAshi> Exited ER2 Long @ 708.50 --> + 0.6 <+szubaark> tough zig-zagging action 11:17 <+Spartan> yeah, I should have waited for new high or lows, on sidelines until then 11:18 <+szubaark> i think its even better to wait til we break 1400 or 1370, which is what smart money is doing <robert> Anyone know if its possible to adjust the font size in the chat window? 11:22 [11:22] * NihabaAshi sets mode: +v robert <+Nesi> Shorts ER2 @ 707.90 -> Add 11:25 <+Spartan> Shorts ES @ 1380.50 -> small size «« paper »» 11:29 couldn't resist [11:34] <@NihabaAshi> robert...there is a way to adjust the FONT size for the chat window but I'm not sure how. [11:34] <@NihabaAshi> I did it one day by accident :) [11:34] <@NihabaAshi> Try the "View" menu [11:34] <@NihabaAshi> There may be a Font menu in there at least that's what I have on the mIRC VISTA version <+T-stop> click in the upper right of window, and choose font 11:35 oops upper left thats for mirc <+Spartan> Covered all ES Short @ 1382.50 --> - 2 «« paper »» 11:46 <+szubaark> Covered all Short ES at 1382.50 --> - 2 «« paper »» Buys ES @ 1382.50 «« paper »» back to down for day :( 11:47 hopefully its not a fakeout <+Spartan> Shorts ES @ 1381.50 -> small size «« paper »» 11:48 <+szubaark> Exited all Long ES at 1380.75 --> - 1.75 «« paper »» Shorts ES @ 1380.75 «« paper »» 11:49 nice fakeout LOL <+Spartan> for me it is so tough catching moves in the middle of the day unless we are trending <+szubaark> will try to Milk this Short, hopefully go plus for day Spartan, its tough when u got Low Volatility(no followthru) like we do right now 11:50 you get too many firkin fakeouts and Stop runs 11:51 <+Spartan> everyone just watch prices to measure volatility? <+szubaark> dont worry, you pick it up with experiece (thousands and thousands of hours screentime) 11:52 <+Spartan> seems like I do good at the beginning of the session and then screw it up midday 11:53 <+szubaark> Niha is a Pro at it, im just a amateur that was almost an hour of Volatility contraction before this Spike, thats a LONG time 11:55 <+Bambam-77> 74.5 on dec [12:02] <@NihabaAshi> Oil over $119 [12:02] <@NihabaAshi> Wow <+werner> ai 12:02 <@NihabaAshi> Looks like Othernet is having problems...we lost a bunch of folks from the room at the same time. 12:03 <+rickf> eesh <+Pepe> test 12:04 [12:04] <@NihabaAshi> . <+Pepe> I am still here :) [12:06] <@NihabaAshi> 702.10 is a support area for ER2 [12:06] <@NihabaAshi> $119 Oil on Earth Day...ironic :) <+Pepe> 119USD? wow 12:07 so, I must sell my big car :( [12:08] <@NihabaAshi> Pepe...get a Moped or Scooter and then you can just park the big car :) <+rickf> better yet - work @ home :) 12:08 <+Pepe> yeah Niha :) 12:09 [12:09] * Houston.TX.US.Othernet.org sets mode: +vvvvv Bambam-77 T-stop szubaark Spartan startrader <Andy> disconnected 12:10 [12:10] * NihabaAshi sets mode: +v Andy [12:11] <@NihabaAshi> 702.10 is a weak support area for ER2 <+Andy> Long ES @ 1376.25 «« paper »» 12:11 [12:13] <@NihabaAshi> Long ER2 @ 702.80 -> small size <+startrader> Shorts ES @ 1376.75 12:14 <+Andy> Exited 1/4 ES Long @ 1377 --> + 0.75 «« paper »» 12:16 Exited 1/4 ES Long @ 1377.25 --> + 1 «« paper »» 12:17 Exited 1/4 ES Long @ 1377.25 --> + 1 «« paper »» <+startrader> Shorts ES @ 1377.50 12:18 <+Spartan> Exited all ES Long @ 1377.50 --> + 1 «« paper »» 12:19 Shorts ES @ 1376.75 -> small size «« paper »» 12:21 <+Andy> Exited Remainder ES Long @ 1376.25 --> 0 «« paper »» 12:22 [12:22] <@NihabaAshi> ER2 probing that 702.10 weak support area [12:23] <@NihabaAshi> I have not support on this Long the about 30 secs after my entry :( <ItalianSharp> bush due up to speak 12:26 [12:26] * NihabaAshi sets mode: +v ItalianSharp <+ItalianSharp> :((( [12:27] <@NihabaAshi> Exited ER2 Long @ 701.60 --> - 1.2 [12:27] <@NihabaAshi> Reverse and Enter Short ER2 @ 701.60 <+Bambam-77> trgt hit tigtening stp 12:28 [12:28] * Warren.MS.US.Othernet.org sets mode: +ov X X <+startrader> Covered 2/3 ES Short @ 1375 --> + 2.5 <+Bambam-77> 74.5 <+Spartan> yep good call <+Andy> Long ES @ 1375.25 «« paper »» 12:29 [12:30] <@NihabaAshi> Now that 702.10 is acting like a magnat...making it tough for ER2 to move further away from it. <+Spartan> Covered all ES Short @ 1374.75 --> + 2 «« paper »» 12:30 <+Andy> Exited all ES Long @ 1374.25 --> - 1 «« paper »» <+Bambam-77> aft 74 look for 1369 area 12:31 [12:31] <@NihabaAshi> Key Markets in sync...down and that may be enough pressure for ER2 to retest 701.00 <+Spartan> Shorts ES @ 1374.50 -> small size «« paper »» 12:32 <+Andy> Long ES @ 1374.5 «« paper »» <+startrader> Covered Remainder ES Short @ 1375.25 --> + 2.25 12:33 [12:33] <@NihabaAshi> Pres. Bush on national TV about NAFTA <+Andy> Exited all ES Long @ 1374 --> - 0.5 «« paper »» 12:34 [12:34] <@NihabaAshi> Covered ER2 Short @ 700.30 --> + 1.3 <+Spartan> you still short szu? [12:35] <@Ni