#FuturesTrades trade log for traders - CBOT, CME, ICE, EUREX, EURONEXT, NYMEX, COMEX and FOREX

April Trade Log

Trade Strategies

WRB Analysis Tutorials

Music While Trading

Testimonials

Disclaimer

#FuturesTrades April 23rd Wednesday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+9.40	+185.00	+1377.90
$940	$18,500	$137,790

Profitable Trade

0934am - 0949am est

Losing Trade

1547pm - 1557pm 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: Wed Apr 23 09:24:12 est 2008 Session Ident: #futurestrades

[09:24] * Now talking in #futurestrades

<@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm 09:24

[09:24] * X sets mode: +o NihabaAshi

<pat29> me think too many S may drive it up..? 09:25

[09:25] * NihabaAshi sets mode: +v pat29

<eminitrader> r still looking @ yest area 1396-88 for a potential sell....but will wait for a pa set-up to occur in that area

[09:25] * NihabaAshi sets mode: +v eminitrader

<rickf> exit EUR/USD short 159050 +346 pips paper

[09:25] * NihabaAshi sets mode: +v rickf

<+pat29> tyem

<+rickf> still short GBP 09:26

<+eminitrader> 1386 npt 1396

npt=not

<+pat29> k..

<+eminitrader> urw pat

<+pat29> y may have to give some slack to L 09:27

<+eminitrader> have a feeling its prolly better to take the day off :))

<+pat29> lol why not///:) 09:28

<+rickf> :)

<+eminitrader> will be off by 10:30 anyways...prolly be back for the pm session

[09:31] <@NihabaAshi> Not common to see today's Open so close to yesterday's Close

<drt> gm all 09:31

[09:31] * NihabaAshi sets mode: +v drt

<+pat29> y N..

<+Spartan> Shorts ES @ 1382.50 -> small size «« paper »» 09:33

[09:34] <@NihabaAshi> weak resistance area for ER2

<+eminitrader> S ..was this based of the NQ 09:34

it give a noce sell @ 1907

<+Spartan> yes

<+eminitrader> k

<+rickf> spartan nice entry :)

[09:34] <@NihabaAshi> Shorts ER2 @ 705.30 -> medium size

<+eminitrader> yep ..low risk 09:35

[09:35] <@NihabaAshi> I had a chance to grab 705.90 but it moved to darn fast

<+rickf> short es 1380.50 paper 09:36

<+Spartan> Covered all ES Short @ 1379.50 --> + 3 «« paper »» 09:37

<+rickf> vn 09:38

<+eminitrader> nice start S

<+Spartan> thanks

<szubaark> nice spartan

[09:38] * NihabaAshi sets mode: +v szubaark

<+rickf> exit 1/2 es short 78.50 +2 paper

<+eminitrader> nice r

<+rickf> ty 09:39

[09:40] <@NihabaAshi> 703.90 - 702.90 is a support zone ER2

<T-stop> nice trade Niha 09:41

[09:41] * NihabaAshi sets mode: +v T-stop

[09:41] <@NihabaAshi> Covered 3/4 ER2 Short @ 703.10 --> + 2.2

<+pat29> vn

<+szubaark> nice Niha, rick

<+rickf> wtg

<+Spartan> Long ES @ 1379 -> small size «« paper »»

<+rickf> ty

<+szubaark> Buys ES @ 1377.75 «« paper »» 09:43

<+rickf> exit remainder es 77.50 +3 paper

fat fingered the dom, didnt want to exit completely. :( too much coffee

<Andy> Long ES @ 1377.75 «« paper »» 09:44

[09:44] * NihabaAshi sets mode: +v Andy

<+eminitrader> ")

<+rickf> shorted es 1378 paper 09:46

<+Andy> Exited all ES Long @ 1377.75 --> 0 «« paper »»

<+Spartan> Exited all ES Long @ 1377 --> - 2 «« paper »»

<+eminitrader> not ripe enough yet for a bounce 09:47

<+rickf> exit 1/2 es short 1376 +2 paper

<startrader> Long ES @ 1376.25

[09:47] * NihabaAshi sets mode: +v startrader

<+Andy> Long ES @ 1376.25 «« paper »»

<+Spartan> if we get a bounce, might not be much judging the way things are going

<+eminitrader> looks like 73-75 will provide some support for a bounce 09:48

<Pepe> emini, what do expect today? Bullish or bearish?

[09:48] * NihabaAshi sets mode: +v Pepe

[09:49] <@NihabaAshi> Covered Remainder ER2 Short @ 701.90 --> + 3.4

[09:49] <@NihabaAshi> Got some family distractions here...

[09:49] <@NihabaAshi> Be back later.

<+Spartan> nice 09:49

<+eminitrader> k

[09:49] * NihabaAshi is now known as NihabaAshi_away

<+eminitrader> nice one N

<+rickf> exit remainder es 1377.25 +.75 paper

nice niha

<+Andy> Exited 1/3 ES Long @ 1377.5 --> + 1.25 «« paper »» 09:50

<+startrader> Exited all ES Long @ 1377.25 --> + 3.25

<+Andy> Exited 1/3 ES Long @ 1377 --> + 0.75 «« paper »» 09:51

<werner> gm all

<@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

[09:51] * NihabaAshi_away sets mode: +v werner

<+rickf> gm werner

<+startrader> Shorts ES @ 1378.50 09:54

<+Spartan> Shorts ES @ 1378.25 -> small size «« paper »»

<+Andy> Exited Remainder ES Long @ 1377.5 --> + 1.25 «« paper »» 09:55

<+werner> hi rickf 09:56

<+Spartan> Covered all ES Short @ 1378 --> + 0.25 «« paper »» 09:57

<+szubaark> exit stop moved to breakeven ES @ 1377.75 «« paper »» 09:58

<+Spartan> Shorts ES @ 1379 -> small size «« paper »»

<+szubaark> Exited all Long ES at 1377.75 --> 0 «« paper »» 09:59

missed exit by 1 tick

<+rickf> exit GBP/USD short 1.97945 +375 pips paper

<+szubaark> Shorts ES @ 1377.25 «« paper »» 10:00

<+Spartan> nq being a trooper 10:02

<+rickf> short es 1377 paper

<+eminitrader> good trading guys...back later

<+startrader> Covered 1/2 ES Short @ 1376.75 --> + 1.75 10:03

<+pat29> vn star 10:04

<+rickf> exit es 1377 be paper

<+Spartan> tough area

<+rickf> gut feeling didnt like the pa

<+startrader> Covered Remainder ES Short @ 1376 --> + 2.5 10:05

<+rickf> shorted es 1376.50 paper small size

<+Spartan> Covered all ES Short @ 1377 --> + 2 «« paper »» 10:06

<+rickf> wtg

<+Spartan> thanks

<+szubaark> lots of chop, consolidation zones lately

<+Spartan> worried about potential double bottom on 1 min

<+rickf> exit es short 1377 -1.50 paper :( 10:07

thought i got in after the chop....grr

<+Spartan> Long ES @ 1377.75 -> small size «« paper »» 10:09

<PapaJon> er2 is hanging out around yesterdays poc 10:13

[10:13] * NihabaAshi_away sets mode: +v PapaJon

<+Spartan> Exited all ES Long @ 1375.75 --> - 2 «« paper »»

<+rickf> short es 1376.25 paper

<+Spartan> Shorts ES @ 1375.75 -> small size «« paper »»

<+PapaJon> It acted as a great magnet for this mornings short 10:14

<+Spartan> Covered all ES Short @ 1377.75 --> - 2 «« paper »» 10:15

geez

<+rickf> exit es short 1378 -2.25 paper 10:16

<+Spartan> Long ES @ 1379 -> small size «« paper »» 10:19

<+startrader> Shorts ES @ 1380.25 10:21

<+Spartan> Exited all ES Long @ 1379 --> 0 «« paper »» 10:23

[10:25] * NihabaAshi_away is now known as NihabaAshi

<+Spartan> Shorts ES @ 1380 «« paper »» 10:26

Covered all ES Short @ 1382 --> - 2 «« paper »» 10:28

[10:29] <@NihabaAshi> Long ER2 @ 705.40 -> small size

[10:29] <@NihabaAshi> Not looking for much on this Long position because it's in a resistance area

[10:32] <@NihabaAshi> Exited ER2 Long @ 705.60 --> + 0.2

<+rickf> short es 1382 paper 10:33

[10:35] <@NihabaAshi> Shorts ER2 @ 706.10 -> small size

[10:36] <@NihabaAshi> Covered ER2 Short @ 707.30 --> - 1.2

[10:36] <@NihabaAshi> Reverse and Enter Long ER2 @ 707.30

<+rickf> just like yesterday afternoon toward the close -- wrbs going vertical up 10:36

<+startrader> Shorts ES @ 1384.50 10:37

<+Andy> Shorts ES @ 1384.25 «« paper »»

<+rickf> short es 1385 (add) paper 10:38

<KiwiRoo> this is mad..... lol

[10:38] * NihabaAshi sets mode: +v KiwiRoo

[10:39] <@NihabaAshi> Exited ER2 Long @ 709.00 --> + 1.7

<+Andy> Covered all ES Short @ 1385.5 --> - 1.25 «« paper »» 10:39

<+szubaark> Brutal sneaky upmove out of nowhere

frikin 5 Green WRB's in a row LOL 10:40

<+rickf> yah no kidding

[10:41] <@NihabaAshi> Eurex DAX very close to retracing it's big drop that had occurred around 0632am est

<+KiwiRoo> wow.. still going.... 10:41

i'm wacthing 89 closly (ES)... 10:42

<@NihabaAshi> Out of curiousity...anybody know what caused the big drop in Eurex DAX or DJ-EuroStoxx50 between 0632am - 0715am est ???

<+Spartan> Shorts ES @ 1386 -> small size «« paper »» 10:43

<+rickf> was it the credit suisse news?

http://www.bloomberg.com/apps/news?pid=2 0601109&sid=apUQ.jMF809U&refer=home

[10:43] <@NihabaAshi> Not sure because I don't have a time for that news

<+Spartan> Covered all ES Short @ 1385.50 --> + 0.5 «« paper »» 10:46

[10:48] <@NihabaAshi> DAX has now completely retraced the price action of that big drop

[10:49] <@NihabaAshi> weak resistance area for DAX

<ItalianSharp> Niha, i have no specific news related to the big drop 10:50

[10:50] * NihabaAshi sets mode: +v ItalianSharp

<+Spartan> Shorts ES @ 1385.75 -> small size «« paper »»

Covered all ES Short @ 1387.75 --> - 2 «« paper »» 10:51

hard lesson

<+szubaark> ok, gap closed from yersturday 10:52

moves like this usually happen on Fed days, this is "unexpected" 10:53

[10:54] <@NihabaAshi> Long ER2 @ 711.10 -> small size

[10:54] <@NihabaAshi> Buying the highs :)

<+ItalianSharp> Niha, either buy the highs or sit out :) 10:55

no retracements for "classic" trading

[10:57] <@NihabaAshi> Exited ER2 Long @ 711.40 --> + 0.3

[10:57] <@NihabaAshi> There's retracements...soon after entry :(

<+rickf> murphy's law of trading 10:57

[10:57] <@NihabaAshi> :)

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)

<+szubaark> yup, retracement time LOL 10:58

[10:59] <@NihabaAshi> Oil just amazes me every week.

[11:01] <@NihabaAshi> Glad my brother listen to me about 3 years ago and bought a large position in OIH exchange traded fund in the $80 dollar range as a way to hedge against his Oil costs...a position he's still holding :)

<+rickf> heh 11:02

<+KiwiRoo> 89 Held. :)

<+rickf> i traded oih options last summer/fall and did fairly well

[11:03] <@NihabaAshi> :)

[11:03] <@NihabaAshi> I regret not trading OIH or XLE over the past few years.

<+rickf> never did xle 11:04

i rode the xlf down several points earlier this year/end of last year

[11:05] <@NihabaAshi> Shorts ER2 @ 709.50 -> small size

[11:05] <@NihabaAshi> high risk considering my actual entry should have been @ 710.50

[11:07] <@NihabaAshi> Covered ER2 Short @ 709.30 --> + 0.2

[11:08] <@NihabaAshi> That's where I would have exited had I not "chased" it.

[11:08] <@NihabaAshi> Thus, still needed to respect the profit target that doesn't change regardless to my entry price

[11:09] <@NihabaAshi> Excellent example of why I don't believe in nor use risk:reward ratios (fixed ratios).

<+rickf> excellent example of trading discipline too 11:10

<rep1acs> in that trade your target profit was so much smaller than it should have been cuz it's a 'chase'?

[11:10] * NihabaAshi sets mode: +v rep1acs

<+rep1acs> yeah i'm amazed u still took it..

[11:11] <@NihabaAshi> rep1acs...if I lack discpline on the entry and chase the price beyond my "chase range"...

[11:11] <@NihabaAshi> I usually get the discpline back on the exit to prevent making the trade worst.

[11:13] <@NihabaAshi> Yes, my actual entry that was way beyond my "chase range" limited my profit potential due to the fact my profit potential is associated with the entry I should have taken back around 710.50

<talickca> gm 11:13

[11:13] * NihabaAshi sets mode: +v talickca

<+rickf> hey t 11:14

<+talickca> how's it playing out so far?

<+rickf> did great on my fx paper trades

<+talickca> nice

<+rickf> ok on a few es trades

<+talickca> massive ES move earlier, crazy

<+rickf> got caught on the last big spike up :(

got a few of us

<+talickca> yeah 11:15

i thought it was a fake out.

[11:15] <@NihabaAshi> We have a nice stable retracement from the highs in ER2

[11:15] <@NihabaAshi> Hopefully it sets up a trade signal soon

<+rep1acs> i've been having the 'newbie luck'...10 profitable days in a row lol

<+rickf> when i first got into options trading a friend told me he hoped my first few trades were losses -- just to pevent me from getting cocky and thinking 'this is easy' :) 11:17

<+talickca> true

<+rep1acs> yeap

<+rickf> but go with what you got, rep1acs :)

<+rep1acs> dont know when my luck runs out lol 11:18

<+Andy> Long ES @ 1385 «« paper »» 11:21

<+talickca> Long ES @ 1385.0 ?? paper ??

<+Spartan> Long ES @ 1385.75 -> small size «« paper »» 11:23

<+Andy> Exited 1/3 ES Long @ 1386 --> + 1 «« paper »»

<+talickca> Exited all ES Long @ 1385.75 --> + 0.75 ?? paper ?? 11:24

<+Andy> Exited 1/3 ES Long @ 1386 --> + 1 «« paper »»

Exited Remainder ES Long @ 1385 --> 0 «« paper »» 11:25

Long ES @ 1385 «« paper »» 11:29

[11:29] <@NihabaAshi> Shorts ER2 @ 708.70 -> small size

[11:32] <@NihabaAshi> I see something I don't like in my trading over these recent 3 trades

<+Andy> Exited 1/2 ES Long @ 1385.75 --> + 0.75 «« paper »» 11:32

[11:32] <@NihabaAshi> Will take a lunch break when I close this position

<+talickca> Care to share Niha?

[11:33] <@NihabaAshi> Poor trading via chasing beyond my chase range

<+Andy> Exited Remainder ES Long @ 1385 --> 0 «« paper »» 11:33

[11:36] * codehead_afk is now known as codehead

[11:38] <@NihabaAshi> Covered ER2 Short @ 708.40 --> + 0.3

[11:39] * NihabaAshi is now known as NihabaAshi_lunch

<Bambam-77> trend is down for now 11:42

[11:42] * NihabaAshi_lunch sets mode: +v Bambam-77

<+Bambam-77> using 86.75 area as long trigger below ss 11:43

<+Andy> Shorts ES @ 1387.5 «« paper »» 11:47

Covered 2/3 ES Short @ 1386.5 --> + 1 «« paper »» 11:49

<@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 11:54

<+Andy> Covered ES Short @ 1385.75 --> + 1.75 «« paper »» 11:55

<+Bambam-77> wtg

<+rickf> vn .... on this tape 11:56

<+Andy> thanks bambam...great name, btw

thanks, rickf...

still have 1...

<+Spartan> Exited all ES Long @ 1383.75 --> - 2 «« paper »» 11:58

<+Bambam-77> thx its a nic and my daughter birth weight 7 lbs 7 oz been with me for 10 yrs now

protect shorts more to come

<+szubaark> Bambam any thoughts on this runup? looks like nothing but Gap close from yersurday 11:59

<+Bambam-77> i see this as a bear flag

<+Andy> Covered Remainder ES Short @ 1383.25 --> + 4.25 «« paper »»

<+szubaark> what time frame? 12:00

<lumens> NQ in the lead, with earnings 12:01

[12:01] * NihabaAshi_lunch sets mode: +v lumens

<+lumens> ES ER double bottom yesterday

<+Bambam-77> range aprox 11+ es points in bear flag formation

<+lumens> still holding uptrend lines 12:02

<+Bambam-77> p&f charts do not lie they just cut out the noise

<+lumens> er could have had a wave 5, es in wave 4 12:03

so watch the trendline and scalp ;)

<+Bambam-77> pos bounce here 0/8 and dbl btm 12:04

<+lumens> like to see a double top, not sure if they buy again today

<+Bambam-77> 1386 pos rtrc lvl posible 12:05

<+szubaark> rtrc lvl?

ohh..retracement level? 12:06

<+Bambam-77> thx exactly

86 is a vpoc

virgin 12:07

in the mean time we trail ss scalp long

<+rickf> short es 1382 paper small size 12:08

<+Spartan> just curious, when you guys scalp the es, ow many ticks is your stop usually? 12:15

ow=how

<+rickf> dont use a hard stop when scalping 12:16

er I dont

<+Spartan> so you just exit if it turns sour?

<+rickf> exit es short 1381.75 +.25 paper

when scalping, yes. if i think the trade is going bad i'll get out. 12:17

perhaps 2-3 points

<+Spartan> poitns or ticks?

<+rickf> i have doubled-down a few times and been lucky

points

<+szubaark> Too much noise on ES to use 2-3 Pt Stops, they whack you every time

<+rickf> i'm not one to scalp for ticks 12:18

szu - that's why i dont use stops on the es

<+szubaark> me neither.. sometimes will let it go against me and take a Hit, but its averaging OK 12:19

<+Spartan> interesting

<+rickf> when i first started with futs, those 2-3 stops would kill me every time --- yet everyone i spoke with said you gotta use stops when you enter a pos

<+szubaark> U need Very Good (Precise) entries for tight Stops, which can take 10-20 Years to develop 12:20

<+talickca> This is good discussion. I would be curious what KN had to say if he was present

<+rickf> these days when i enter i put my limit in right then, and then work the stops/risk management as i monitor the trade

<+szubaark> Understanding Volatility can also help with Stops/Entries, but that also takes thousands of hours of screen time,reading about it wont help LOL 12:22

<+rickf> short es 1379.25 paper small size

for me i simply watch for the pa along with a big compression of BB/keltner to signal a vol spike may be immient 12:25

not to a direction of the spike, just a heads-up to be on-guad :) 12:26

er on-guard

exit 1/2 es 1377.25 +2 paper

<+Andy> Long ES @ 1378 «« paper »» 12:27

<+rickf> exit es remainder 1378.50 +1.25 paper 12:28

<+Andy> Exited 1/2 ES Long @ 1379 --> + 1 «« paper »» 12:29

Exited Remainder ES Long @ 1378 --> 0 «« paper »» 12:30

<pdays> Long ES @ 1378.5 12:31

[12:31] * NihabaAshi_lunch sets mode: +v pdays

<+Andy> Long ES @ 1377.5 «« paper »» 12:33

Exited all ES Long @ 1377 --> - 0.5 «« paper »» 12:34

<+pdays> Exited all ES Long @ 1376.5 --> - 2

<+szubaark> Yersturday double bottom test likely 12:36

<+Bambam-77> sweet 12:44

bear flag break and drop

<+szubaark> what timeframe? 12:46

im seeing a downward channel on 15,30

<+Bambam-77> 5 min chart shows it

but i look at p&f charts 12:47

<+szubaark> ohh.. i know nothing about that

<+talickca> p&f ?

<+szubaark> Point and Figure, old school charting

<+Bambam-77> point and figure google it

<+talickca> oh ok

<+rickf> back in a bit - meeting 12:49

<+Andy> Long ES @ 1375.25 «« paper »» 13:03

[13:08] * NihabaAshi_lunch is now known as NihabaAshi

<@NihabaAshi> Anybody in here using Trade Navigator via AMP Futures or any other broker ??? 13:08

<+Andy> Exited 1/2 ES Long @ 1376.75 --> + 1.5 «« paper »» 13:09

<+Pepe> I use Trade navigator but only software Genesis, no broker.

<+Andy> Exited 1/4 ES Long @ 1377.25 --> + 2 «« paper »» 13:13

Exited Remainder ES Long @ 1377 --> + 1.75 «« paper »» 13:14

Shorts ES @ 1377 -> small size «« paper »» 13:16

Covered 1/2 ES Short @ 1376.25 --> + 0.75 «« paper »» 13:19

Covered Remainder ES Short @ 1376.5 --> + 0.5 «« paper »» 13:21

Long ES @ 1377.75 «« paper »» 13:37

Exited 1/2 ES Long @ 1378.75 --> + 1 «« paper »» 13:38

Exited Remainder ES Long @ 1377.75 --> 0 «« paper »» 13:40

<KN-ES> Long ES @ 1377.75 13:49

[13:49] * NihabaAshi sets mode: +v KN-ES

<+rickf> back 13:51

just out of curiosity did my status change to 'away' and then 'back' ? hard to tell from this end 13:52

<+KN-ES> Exited 3/4 ES Long @ 1379.25 --> + 1.5

s.l 76.75

h5 13:53

[13:57] <@NihabaAshi> Shorts ER2 @ 704.60 -> medium size

<@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 14:00

<+lumens> could be making right shoulders here 14:04

<+Andy> Long ES @ 1377.75 «« paper »» 14:05

[14:05] <@NihabaAshi> Covered ER2 Short @ 705.30 --> - 0.7

[14:08] <@NihabaAshi> Shorts ER2 @ 705.20 -> medium size

<+Andy> Exited all ES Long @ 1377.5 --> - 0.25 «« paper »» 14:09

Long ES @ 1377.5 «« paper »» 14:10

[14:10] <@NihabaAshi> starting to look like ER2 is trying to establish a support area to go higher :(

<+werner> good trading all 14:11

<+rickf> you too

<+Andy> Exited 2/3 ES Long @ 1379.25 --> + 1.75 «« paper »»

<+werner> :) 14:12

[14:12] <@NihabaAshi> Covered ER2 Short @ 705.90 --> - 0.7

<+KN-ES> Exited 1/3 ES Long @ 1380.25 --> + 2.5 14:13

out 1

Exited 1/3 ES Long @ 1379.75 --> + 2 14:15

out 1

<+rickf> like watching paint dry today on the es right now 14:17

[14:18] <@NihabaAshi> Shorts ER2 @ 705.70 -> medium size

[14:19] <@NihabaAshi> starting to feel like another Short trap

[14:22] <@NihabaAshi> contracting volatility

[14:22] <@NihabaAshi> It'll setup a good reversal opportunity if this trade continues to go against me.

<+rickf> short es 1379.75 paper 14:23

<+Andy> Exited Remainder ES Long @ 1378.75 --> + 1.25 «« paper »» 14:24

[14:26] <@NihabaAshi> Covered ER2 Short @ 705.70 --> 0

[14:26] <@NihabaAshi> volatility spike Hammer Line :(

[14:27] <@NihabaAshi> Shorts ER2 @ 705.20 -> large size

<+rickf> exit 1/2 es 1377.75 +2 paper 14:27

[14:28] <@NihabaAshi> :(

[14:28] <@NihabaAshi> Feels like I brought a knife to a gun fight

<+rickf> :( 14:28

<+talickca> Exactly

<+szubaark> yup, tons of zig-zagging action lately 14:30

<+rickf> exit remainder es 1379 +.75 paper

felt that pop coming -- short trap attempt #1 perhaps? 14:31

[14:34] <@NihabaAshi> Covered all ER2 Short @ 706.20 --> - 1

<+szubaark> now maybe quick fakeout to upside then Drop HARD DOWN 14:34

[14:35] <@NihabaAshi> szu...its in that 1.4 tight trading range

[14:36] <@NihabaAshi> They've been happening at least once per day for the last 3 weeks

[14:36] <@NihabaAshi> contracting volatilty then volatility spikes within a very small tradning range

<+KN-ES> Exited 1/3 ES Long @ 1379.75 --> + 2 14:36

nop

Exited 1/3 ES Long @ 1380.75 --> + 3 14:37

out 1

[14:38] <@NihabaAshi> We are right now at the 1.4 range limit on ER2 at 706.50

[14:38] <@NihabaAshi> Lets see if it pulls back

<+szubaark> also, right at Retrace area from last high to low 14:38

[14:39] <@NihabaAshi> Yeah...some pivot stuff going on in this price area

[14:39] <@NihabaAshi> Took me 4 trades to see it

<Guest> Shorts ER2 @ 706.5 «« paper »» 14:39

[14:39] * NihabaAshi sets mode: +v Guest

<+Andy> wow 14:40

[14:40] <@NihabaAshi> crazy huh

<+szubaark> now watch them quickly retrace this WRB LOL back and forth.. nuts

<+Andy> any explanations? Just button pushers hitting the programs all at once?

[14:40] <@NihabaAshi> Shorts ER2 @ 705.70 -> large size

<+szubaark> Their Super Computers probobly whacking us retail around 14:41

[14:41] <@NihabaAshi> Lets see if I can now play this tight range before it pops back upwards

<+szubaark> My EMA's are FLAT, expecting Volatility spike now with followthru, Up or Down :)) 14:42

[14:42] <@NihabaAshi> I've already been shaken once out of a 705.70 trade for breakeven a few trades ago

[14:43] <@NihabaAshi> A retest of the 705.30 would have me dumping my position

[14:44] <@NihabaAshi> volatility contracting

<+rickf> yup 14:46

short es 1378.25 paper small size

<+Guest> Covered all ER2 Short @ 704.5 --> + 2 «« paper »» 14:48

[14:48] <@NihabaAshi> Greed

<+rickf> vn

[14:49] <@NihabaAshi> We are a few ticks below that earlier tight trading range.

<+Guest> Long ER2 @ 704.6 «« paper »» 14:50

<+szubaark> we are still retracing that last red WRB spike

[14:52] <@NihabaAshi> volatility contracting

[14:55] <@NihabaAshi> Geesh...back to fighting for every tick

[14:56] <@NihabaAshi> May catch a shallow WRB pt2 here

[14:56] <@NihabaAshi> Covered ER2 Short @ 704.50 --> + 1.2

[14:57] <@NihabaAshi> pt1 to pt2 was only 0.2 ticks

<+rickf> exit 1378.25 breakeven paper 14:57

short es 1378.25 paper 14:59

maybe :| 15:00

<+szubaark> Covered all Short ES at 1379.25 --> - 2 «« paper »» 15:01

<+rickf> exit es 1379 - .75 paper

<+Guest> Exited all ER2 Long @ 706.1 --> + 1.5 «« paper »»

<+rickf> stupid me -- didnt notice it was top of the hour 15:02

[15:02] <@NihabaAshi> Long ER2 @ 706.30 -> medium size

[15:02] <@NihabaAshi> back at that 706.50 price area...

[15:03] <@NihabaAshi> Lets see if there's enough volatility for a breakout

<+Guest> Shorts ER2 @ 706.2 «« paper »» 15:03

<+rickf> watching 83 area on the es 15:05

long es 1380 paper 15:08

<+talickca> I'm out, later rick 15:12

<+rickf> exit 1/2 es 1382 +2 paper

later t

[15:13] <@NihabaAshi> Exited ER2 Long @ 707.40 --> + 1.1

<+Guest> Covered ER2 Short @ 707.8 --> - 1.6 «« paper »» 15:16

Reverse and Enter Long ER2 @ 707.8 «« paper »»

<+rickf> exit remainder es 1382 +2 paper 15:17

essh. like watching a suspense movie....will the red candle pop out and getcha? :) 15:24

<+Guest> 710 next target

<+rickf> 4 doji on the es back to back -- not seen that before 15:25

<+Bambam-77> i have 709.60 close enough 15:26

<+startrader> Shorts ES @ 1383.25 15:27

<+rickf> short es 1382.50 paper

reading my chart again, star? lol 15:28

<+startrader> yes: 15:30

<+rickf> that was your voice in the back of my head....gotcha 15:31

[15:33] <@NihabaAshi> ER2 just can't stay too long from that 706.50 price area

[15:33] <@NihabaAshi> It gets away from it then runs back to it :)

<+rickf> exit 1/2 es 1378.50 +4 paper 15:36

hld 4

dont forget aapl earnings after the close

<+startrader> wow, same exit rick, scary.... 15:37

<+rickf> really? yow! 15:38

*looks behind his monitor*

<+Andy> Long ES @ 1378.75 «« paper »»

<+rickf> nope, no star here....

<+startrader> seperated at birth?

<+rickf> LOL

<+Andy> Exited 2/3 ES Long @ 1379.75 --> + 1 «« paper »»

<+startrader> I was raised by baboons in Africa so could be... 15:39

<+rickf> or similar trading style / pa reading

<+Guest> Long ER2 @ 706.1 -> Add «« paper »»

<+rickf> exit remainder es 1381 + 1.5 paper 15:40

:)

[15:40] <@NihabaAshi> whipsaw price action

<+Andy> Exited ES Long @ 1380.75 --> + 2 «« paper »»

[15:40] <@NihabaAshi> Bronco Ride

<+startrader> Shorts ES @ 1381.25 15:42

looking for 76.50 to 77. 15:47

[15:47] <@NihabaAshi> Shorts ER2 @ 705.40 -> medium size

[15:48] <@NihabaAshi> dark hammer line trying to form :(

[15:48] <@NihabaAshi> just did

[15:48] <@NihabaAshi> Hopefully ER2 will retest the low of that Hammer line

<+Andy> Exited Remainder ES Long @ 1378.75 --> 0 «« paper »» 15:49

<+rickf> nice entry star

[15:49] <@NihabaAshi> geeesh

<+startrader> can't break 78... 15:53

[15:53] <@NihabaAshi> Not a normal price action for the 3:45pm - 4:00pm est price action

[15:54] <@NihabaAshi> Almost as if we got something big occurring early tomorrow or soon after the closing bell

WRB Analysis

Learn More

<+rickf> durable goods and jobless claims 0830 tomorrow 15:55

apple earnings tonight 15:56

k guys i am done for the day. good luck see you tomorrow

[15:56] <@NihabaAshi> Covered ER2 Short @ 707.00 --> - 1.6

[15:57] <@NihabaAshi> Apple

[15:57] <@NihabaAshi> Long ER2 @ 706.90 -> medium size

[15:59] <@NihabaAshi> too late for learning about what's going on after the close

[15:59] <@NihabaAshi> Ooops...nevermind :)

<+Andy> I'm sure it is impossible that the apple numbers are known beforehand :) 16:00

[16:01] <@NihabaAshi> Yeah...I was just commenting about knowing it was Apple Earnings

<Brutus-L1> 04/23/2008 16:01 *DJ Amazon.com 1Q EPS 34c Vs EPS 26c >AMZN 16:01

[16:01] * NihabaAshi sets mode: +v Brutus-L1

<+Brutus-L1> 04/23/2008 16:01 *DJ Amazon.com Announces 1Q Sales Up 37% To $4.1 B; Electronics And Other General Merchandise Grows 56%; Media Grows 28% 16:02

[16:02] <@NihabaAshi> Not the actual numbers...just knowing it was going to occur after the close.

[16:02] <@NihabaAshi> Market gets weird a lot when its someone like Apple

[16:02] <@NihabaAshi> Bronco Ride

<+Brutus-L1> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={bb08a 131-5fe5-4ef7-8a4c-6e746f2c6964}

[16:03] <@NihabaAshi> Exited ER2 Long @ 707.60 --> + 0.7

<+Andy> got some delicous ES stops at 83.50; surely don't want to short before having that meal :) 16:04

[16:04] <@NihabaAshi> Weird...I've been watching Bloomberg all afternoon and not once did it mention a Apple Earnings pending :(

<@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 16:06

<GoodMood> numbers for AAPL already out ? 16:07

[16:07] * NihabaAshi sets mode: +v GoodMood

[16:07] <@NihabaAshi> Daily chart doesn't look so hot.

<+Andy> gn all, see you tomorrow

[16:07] <@NihabaAshi> Thus, I'll be small size all day tomorrow

[16:07] <@NihabaAshi> Take care all and see all tomorrw

<+startrader> Covered all ES Short @ 1378.50 --> + 2.75 Session Close: Wed Apr 23 16:23:00 2008 16:15

Sponsor:
Skype

Google:

#FuturesTrades past logs can be searched via using Google. For example, pretend you want to research what has been said about volatility analysis. Go to the Google search window below and type in "volatility analysis" site:thestrategylab.com (exactly as I typed it including the quotation marks) and you will find everything associated with those key words that were used by any member of #FuturesTrades.


We are proud to say that our chat room members are from the following geographical areas in the world:

Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Israel, Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:

CME Emini Futures EMD, ER2, ES and NQ

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives BUND, BOBL and Schatz

Euronext Futures FTSE-100 and CAC-40

CME Futures EuroFX EC

Treasury Futures T-Notes ZN, ZF and T-Bonds ZB

Forex Currencies EurUsd, EurYen and UsdCdn

Exchange Traded Funds DIA, IWM, QQQQ, SPY, OIH, XLE and GLD

NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

COMEX Metals Gold GC and ZG

Hang Seng Index Futures HSI

Last of all, if you have any questions about any of the above commentary, specific trades et cetera...

Don't hesitate to ask your questions and we'll reply back as soon as possible.