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| April Trade Log | Trade Strategies | WRB Analysis Tutorials | Music While Trading | Testimonials | Disclaimer |
#FuturesTrades
April 24th Thursday 2008 Trade Log
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Profitable Trade 1130am - 1135am est Losing Trade 1215pm - 1219pm 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: Thu Apr 24 09:30:33 2008Session Ident: #futurestrades [09:30] * Now talking in #futurestrades <@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm 09:30 [09:30] * X sets mode: +o NihabaAshi <szubaark> Shorts ES @ 1383 «« paper »» 09:32 [09:32] * NihabaAshi sets mode: +v szubaark <eminitrader> stop @ b/e now [09:32] * NihabaAshi sets mode: +v eminitrader <pat255> em wud appreciate if u cud post the entries ...very helpful ..ty 09:34 [09:34] * NihabaAshi sets mode: +v pat255 <+pat255> when u get the chance ...:) <+Spartan> Shorts ES @ 1383.75 -> small size «« paper »» 09:35 <+eminitrader> stopped doing that pat <+pat255> ooops ...lol <+eminitrader> too many pm... 09:36 <+pat255> igore them all.. 09:37 folks should not do that while trading .. <+eminitrader> teh wahts the piont in being in a chat room ?:) [09:37] <@NihabaAshi> Shorts ER2 @ 705.40 -> medium size <+eminitrader> dont mind chatting in the open forum <+Spartan> Covered all ES Short @ 1381.75 --> + 2 «« paper »» 09:38 <+eminitrader> true...thats what puts u off...bombarding while in a trade and i dont want to be rude ..by not responding 09:39 <stoch08> <eminitrader> and i dont want to be rude ..by not responding ->u r a nice person em :) 09:40 [09:40] * NihabaAshi sets mode: +v stoch08 <+eminitrader> lol..thx s hld 2 now <+szubaark> Covered all Short ES at 1380 --> + 3 «« paper »» <+eminitrader> nice szu 09:41 <+Spartan> nice szu <+szubaark> thanks, u had better entry@1385 :) [09:41] <@NihabaAshi> Covered 3/4 ER2 Short @ 704.30 --> + 1.1 <+eminitrader> like i said szu..still feel 1383 on the SP is strong res 09:42 <+pat255> may be N cud tell traders not to pm during trading.. <+eminitrader> and am still expecting test of 1364 <+Spartan> Shorts ES @ 1380 -> small size «« paper »» Covered all ES Short @ 1380 --> 0 «« paper »» 09:43 <+eminitrader> minor support 75-78...bounce area.. 09:44 <+Spartan> Long ES @ 1380.25 -> small size «« paper »» <PapaJon> anyone have a clue to the cause of the gap between 9:08est and 9:10est?... news? [09:44] * NihabaAshi sets mode: +v PapaJon <werner> gm all 09:45 [09:45] * NihabaAshi sets mode: +v werner <+eminitrader> no news pj...just think too much noise.. [09:45] <@NihabaAshi> Covered Remainder ER2 Short @ 704.90 --> + 0.5 <+stoch08> econ # papa <+PapaJon> hmmff.. was a 10 tick jump on er2 <+eminitrader> that was at 8:30 <+PapaJon> yup.. 09:46 <+Spartan> Exited all ES Long @ 1380.5 --> + 0.25 «« paper »» 09:47 Shorts ES @ 1379.50 «« paper »» 09:48 <+eminitrader> looks like its getting ready for a bounce <+Spartan> great glad I shorted <+eminitrader> wonder how big ?? <anglo> . [09:48] * NihabaAshi sets mode: +v anglo <+eminitrader> S ..u never know...i am known to be wrong <+Spartan> right much more than me 09:49 <+eminitrader> am short too...just that u know :)) <+Spartan> Covered all ES Short @ 1378 --> + 1.5 «« paper »» <+eminitrader> right at the top of my supp area .. <Andy> Long ES @ 1377.75 «« paper »» 09:50 [09:50] * NihabaAshi sets mode: +v Andy [09:50] <@NihabaAshi> Shorts ER2 @ 702.30 -> medium size <+eminitrader> [09:44] <eminitrader> minor support 75-78...bounce area. [09:50] <@NihabaAshi> geeesh...that move fast...was thinking about getting short @ 703.00 and then it dropped :( <+eminitrader> hld 1 09:51 <+PapaJon> er2 testing below yest value area <+Spartan> Long ES @ 1377.75 -> small size «« paper »» <+PapaJon> likely hesitation or bounce [09:52] <@NihabaAshi> Yeah...its alos within one of my s/r zones <+eminitrader> pa says bounce ...prolly 80-82 area 09:52 <+PapaJon> yep.. they usually coincide <+eminitrader> lowered stop 1383 09:53 <+Andy> Exited 1/2 ES Long @ 1378.75 --> + 1 «« paper »» 09:54 [09:54] <@NihabaAshi> Covered ER2 Short @ 702.90 --> - 0.6 <+Spartan> Exited all ES Long @ 1379.25 --> + 1.5 «« paper »» <+szubaark> nice trades Spartan <+eminitrader> yep <+Spartan> thanks, its my early session luck <lumenPharmer> wtg 09:55 [09:55] * NihabaAshi sets mode: +v lumenPharmer <+Andy> Exited 1/4 ES Long @ 1379.25 --> + 1.5 «« paper »» <jsbach> nice [09:55] * NihabaAshi sets mode: +v jsbach <+jsbach> that was a true scalp <+PapaJon> heya lumenPharmer.. just curious.. are you into solar energy? <+Spartan> ty <+Andy> thanks js 09:56 <+lumenPharmer> light farmer where ever the light may be :) <+PapaJon> or hydro? <+lumenPharmer> lol soil <+PapaJon> gotcha.. <+lumenPharmer> the light can be in people also :) 09:57 <+eminitrader> that was a fast reversal...nice S <+PapaJon> yes.. is true [09:58] <@NihabaAshi> weak support area for ER2 <+lumenPharmer> now papa can u send me a pizza, lol 09:59 [09:59] <@NihabaAshi> Long ER2 @ 703.00 -> medium size <+Andy> Exited Remainder ES Long @ 1380 --> + 2.25 «« paper »» <+PapaJon> lol.. i been in this room bout 3 years... how many times u think people have ordered pizza? <+eminitrader> heheheh <+lumenPharmer> hehehe 10:00 <+PapaJon> :) maybe i should change professions [10:00] <@NihabaAshi> Bronco Ride <+eminitrader> wow...u guys see that <+szubaark> yeah crazy <+pat255> y what the hell was that [10:00] <@NihabaAshi> Exited ER2 Long @ 702.00 --> - 1 <+stoch08> homesales down <+eminitrader> screen freezing [10:01] <@NihabaAshi> Shorts ER2 @ 701.00 -> medium size <+lumenPharmer> ts down 10:01 <+szubaark> Shorts ES @ 1375 «« paper »» <+jsbach> glad I didn't get weak <+werner> not here lp <+PapaJon> sheesh [10:01] <@NihabaAshi> Throw your order out there and see if it gets filled :) <+szubaark> yup <+Andy> a great trader once told me he always stood aside two minutes into an announcement and three minutes after... <+lumenPharmer> matrix ok but graphs no so good 10:02 <+szubaark> geez i forgot about the 10am news <+pat255> good point andy <pdays> Lumen..same thing on TS here [10:02] * NihabaAshi sets mode: +v pdays [10:03] <@NihabaAshi> I've learned not to ignore volatility and to stay aside if I didn't understand it. [10:04] <@NihabaAshi> We get these crazy spikes sometimes even without news... <+lumenPharmer> i think we are ok now in ts 10:04 [10:04] <@NihabaAshi> We just gotta learn how to manage them when these volatility spikes occur. [10:04] <@NihabaAshi> If not...nothing wrong with staying on the sidelines. <+szubaark> at least we getting followthru on the Volatility so far [10:04] <@NihabaAshi> I do it often (stay on the sidelines) and miss at least one big move each trading day. <+pat255> missed S today ..sigh 10:06 [10:06] <@NihabaAshi> volatility declining :( <+szubaark> there has to be a lot of Stops under the lower Wick of the Dark Hammer Line Yersturday [10:07] <@NihabaAshi> Hopefully it goes into a creeper move downwards before it decides to do the next volatility spike [10:07] <@NihabaAshi> tighning up my trailing stop because this thing is going to pop but I don't know which direction <+szubaark> bouncing off the low of the Dark Hammer Line 10:08 [10:08] <@NihabaAshi> volatility declining a little more [10:09] <@NihabaAshi> Volatility Spike <+szubaark> Covered all Short ES at 1372.75 --> + 2.25 «« paper »» 10:09 [10:09] <@NihabaAshi> Covered 3/4 ER2 Short @ 698.40 --> + 2.6 <+szubaark> Volatility spike caused by Stops below the Dark Hammer Line <+Spartan> nice trades <+lumenPharmer> looks like we are stuck in that 680-720 on ER, did it all february, now doing it all april ;( 10:10 <+szubaark> Nice Volatility so far, wonder how long it will Last..... 10:11 <+Spartan> Shorts ES @ 1375 «« paper »» 10:12 [10:12] <@NihabaAshi> Covered ER2 Short @ 699.70 --> + 1.3 [10:12] <@NihabaAshi> Reverse and Enter Long ER2 @ 699.70 <+Spartan> Covered all ES Short @ 1375.75 --> - 0.75 «« paper »» 10:13 [10:13] <@NihabaAshi> Exited ER2 Long @ 700.20 --> + 0.5 <+Spartan> Shorts ES @ 1375 «« paper »» 10:14 [10:14] <@NihabaAshi> Exited too soon considering there's a strong support :( <+Spartan> Covered all ES Short @ 1376.25 --> - 1.25 «« paper »» 10:15 gees [10:16] <@NihabaAshi> volatility contracting <+Andy> I know this is cynical thinking, but how surprising is a mild/moderately bad housing report? It seems way overdone to the downside. 10:17 [10:17] <@NihabaAshi> This thing has a chance to spike upwards...with my watching the train go by :( <+PapaJon> Andy.. the news and econ reports has only a fraction of impact on the shortterm intraday action 10:19 <+szubaark> Shorts ES @ 1376.75 «« paper »» <+PapaJon> true that certain key numbers will cause volatility spikes.. but he realy moves are more impacted by all the traders (big and small) 10:20 <+Spartan> Shorts ES @ 1376 «« paper »» <+PapaJon> big traders impacting (manipulating), small traders reacting 10:21 <+Andy> I'm all ears PJ, for any observations you have...thanks 10:22 <+PapaJon> np.. but i am not the expert here.. just been in this room quite some time 10:23 <+szubaark> Covered all Short ES at 1374 --> + 2.75 «« paper »» 10:24 <+Spartan> Covered all ES Short @ 1374.50 --> + 1.5 «« paper »» annoying [10:27] <@NihabaAshi> weak support area ER2 <+Andy> Long ES @ 1373.5 «« paper »» 10:27 [10:29] <@NihabaAshi> Long ER2 @ 701.70 -> small size <+Andy> Exited 1/2 ES Long @ 1375 --> + 1.5 «« paper »» 10:29 <+szubaark> Buys ES @ 1375.25 «« paper »» 10:30 [10:30] <@NihabaAshi> weak resistance area 702.30 [10:31] <@NihabaAshi> I saw it too late :( <+Andy> Exited Remainder ES Long @ 1373.5 --> 0 «« paper »» 10:31 [10:32] <@NihabaAshi> May get second chance to exit around 702.30 [10:32] <@NihabaAshi> Exited 2/3 ER2 Long @ 702.30 --> + 0.6 <+Andy> Long ES @ 1373.25 «« paper »» 10:33 [10:33] <@NihabaAshi> Exited Remainder ER2 Long @ 701.80 --> + 0.1 [10:34] <@NihabaAshi> I just heard something interesting... [10:35] <@NihabaAshi> Fund Managers are trading Crude Oil like a currency instead of via fundamental reasons <+Andy> Exited all ES Long @ 1372.25 --> - 1 «« paper »» 10:35 [10:36] <@NihabaAshi> I have a neighbor (few houses down) that saids his gas expenses each month almost equals his mortgage payment. [10:36] <@NihabaAshi> Scary <+stoch08> wow.. 10:37 [10:38] <@NihabaAshi> I also saw a news channel interviewing someone in Atlanta at a gas pump that said the same thing. [10:38] <@NihabaAshi> Time for these folks to get a Moped or carpool :) [10:38] <@NihabaAshi> Get a double seater for the spouse :) <+pat255> y N we are spoiled & especially in US.. 10:38 [10:40] <@NihabaAshi> ER2 creeping higher on contracting volatility [10:40] <@NihabaAshi> Something is going to pop soon. <+Andy> ER the strongest index today 10:41 [10:42] <@NihabaAshi> Yeah...lets see if the others try to catch up with ER2 <@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 10:45 [10:45] <@NihabaAshi> 703.00 weak resistance area [10:45] <@NihabaAshi> Thus, a breakout point <+Andy> 75 in es [10:46] <@NihabaAshi> Shorts ER2 @ 703.40 -> small size [10:46] <@NihabaAshi> correcting [10:46] <@NihabaAshi> Shorts ER2 @ 702.40 -> small size [10:47] <@NihabaAshi> Will consider reversing my position into a Long around 703.00 [10:48] <@NihabaAshi> Pin Ball Machine price action :( <+pdays> Shorts ER2 @ 702.6 10:49 Covered all ER2 Short @ 702.2 --> + 0.4 [10:51] <@NihabaAshi> WRB pt1 reached and it was too fast to exit at :( <+pat255> N cud u pl request traders not to PM during trading hours ...s folks like em dont get haseld ..ty 10:51 just a thot .. em is a very good trader on es.. 10:52 [10:52] <@NihabaAshi> You can turn that feature off or other things <+pat255> k .. [10:52] <@NihabaAshi> Covered ER2 Short @ 703.00 --> - 0.6 [10:52] <@NihabaAshi> Reverse and Enter Long ER2 @ 703.00 <+szubaark> market finding Support here 10:53 [10:54] <@NihabaAshi> Pin Ball Machine price action again [10:57] <@NihabaAshi> Exited ER2 Long @ 703.20 --> + 0.2 [10:58] <@NihabaAshi> Too many key markets trying to contract in their volatility <+pat255> futs catching up with er now 10:59 [10:59] <@NihabaAshi> Long ER2 @ 703.20 -> small size [11:00] <@NihabaAshi> something is going to pop (volatility spike) here soon [11:01] <@NihabaAshi> Hopefully upwards and not down [11:06] <@NihabaAshi> Exited ER2 Long @ 703.60 --> + 0.4 <+szubaark> just creeping upwards 11:06 [11:06] <@NihabaAshi> :( <+szubaark> hopefully i can get small Volatility spike around Resistance area to exit my Long Exited all Long ES at 1377 --> + 1.75 «« paper »» 11:08 <+Andy> Shorts ES @ 1378.5 «« paper »» 11:17 Long ES @ 1379 -> Add «« paper »» 11:20 error 11:21 with the add -> Shorts ES @ 1378.75 -> large size «« paper »» 11:22 Covered 1/2 ES Short @ 1377.75 --> + 1.25 «« paper »» that should be 1, not 1.25 11:23 Covered Remainder ES Short @ 1379.25 --> - 0.5 «« paper »» 11:25 [11:30] <@NihabaAshi> Long ER2 @ 707.20 -> small size 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) <+PapaJon> interesting day 11:34 [11:35] <@NihabaAshi> Exited ER2 Long @ 710.40 --> + 3.2 [11:35] <@NihabaAshi> Geeesh <+PapaJon> nice niha 11:35 [11:35] <@NihabaAshi> Just think...I almost exited at a +0.40 profit <+PapaJon> i been away for a bit... missed all this 11:36 [11:36] <@NihabaAshi> It was at a WRB pt1 @ +0.40 profit [11:36] <@NihabaAshi> Decided to get greedy and let it ride a little with a tight stop <+szubaark> Back to the upper line of the channel... 11:37 [11:38] <@NihabaAshi> Since 1010am est my trades (6 of them) have had 5 on the Long side. [11:39] <@NihabaAshi> That tells me I wasn't fighting that creeper uptrend until it found its legs around 1118am est <+szubaark> Nice Trades Niha. 11:45 [11:46] <@NihabaAshi> Just missed getting an entry in the last shallow pullback at 711.00 :( [11:49] * codehead_afk is now known as codehead <+PapaJon> er2 just filled its hidden gap from 4/21 11:50 at 714 [11:50] <@NihabaAshi> Geesh <Brutus-L1> EUR/USD Euro 1.5666-69 -1.36% 11:58 [11:58] * NihabaAshi sets mode: +v Brutus-L1 <+Andy> the dollar rally kills the commodity rally feeds the equity rally 11:59 [12:00] <@NihabaAshi> On the daily chart this price movement doesn't look too impressive [12:01] <@NihabaAshi> Shorts ER2 @ 713.00 -> small size