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#FuturesTrades April 25th Wednesday 2007 Trade Log

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Russell 2000 Emini ER2 Futures

Today Month Year

+20.10 +155.70 +1098.60

$2,010 $15,570 $109,860

Trading Perspective

Profit/Loss Statement

I've said many times that volatility analysis is key to profits. We need to know as many market tendencies about volatility to increase our chances of ending the trading day at a profit.

Today was one of those market tendencies when there's a Fed Chairman speech, 10am est key report, 1030am est EIA Petroleum Status Report and a 2pm Beige Book Report all in the same trading day.

Simply, if you want to catch big trades...study trading days like today and learn how to trade on them because the above key market events are price movers. More importantly, they are the reason why our trade signals do appear regardless to the type of strategy you are using.

As for my own trading, I had some problems in the first trade as shown below in the chat log and I lost my patience in another trade later in the trading day that could have been costly (no profits).

Key news of the day

Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.com
Note: Position Size Management is very important in my trading and my position size varies from one trading day to the next trading day or from one trade to the next trade. Also, 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.
However, if you want to see up-to-date pattern signals in other trading instruments...click here.


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Session Start: Wed Apr 25 09:08:59 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:08

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

<pat255> gm all 09:10

mo mo not stopping..

S getting squeezed.. 09:11

<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) 09:12

* subq market profile charts for today

http://www.charthub.com/images/2007/04/2 5/MP_ER2_S2.png 09:13

http://www.charthub.com/images/2007/04/2 5/MP_ES_S2.png

<NihabaAshi> Thanks subq

* subq http://www.charthub.com/images/2007/04/2 5/MP_NQ_S2.png

http://www.charthub.com/images/2007/04/2 5/MP_YM_S2.png

<subq> quick color explanation, solid lines are tpo based, dashed are volume based 09:14

yellow is the POC, green is the value area, singles are orange 09:15

and there is a gray volume profile next to the purple standard tpo profile

oh blue dot is the open, red hash is the close 09:16

<venedom> gm 09:24

<PapaJon> gm all 09:26

<NihabaAshi> Long ER2 @ 835.50 -> large size 09:35

Weak Hammer line and its pushing further than I expected :)

Alert: Fed Chairman Bernanke speaking at 10am est. 09:37

Exited ER2 Long @ 834.50 --> - 1 09:39

Reverse and Enter Short ER2 @ 834.50

<szubaark> Shorts NQ @ 1875 «« paper »» 09:41

<NihabaAshi> Covered 1/2 ER2 Short @ 832.90 --> + 1.6 09:45

The Engulfing pattern alerted me that it was time to reverse my Long position into a Short position.

In addition...it's was behaving like it wanted to "attempt" at a GAP fill when the engfuling pattern also engulfed the body of the White Hammer Line. 09:46

<PapaJon> nice trade niha 09:47

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Trading Strategies ->   These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: Emini Index Futures (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), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<NihabaAshi> Getting back to the pending Fed Bernanke comments... 09:48

It's rare to see volatility drop or sideways market action when that guy speaks...

Thus, I'm expecting volatility spikes to occur soon after 0955am est.

Hopefully, this Short I'm still holding...price drops further to give me a bigger cushion (breathing room) when that volatility increases start to show up in reaction to the Fed Chairman Bernanke speech. 09:50

<base> NihabaAshi: What timeframe are you talking about, please? I mean the mentioned CS formations.

<NihabaAshi> My first two trades were via the 2min chart. 09:51

Regular session and the All Data Session.

<pdays> New home sales @ 10:00 also

<NihabaAshi> One showed the GAP (Regular Chart) and the other showed the 0830am est price action (All Data Chart) 09:52

<base> NihabaAshi: Thank you Niha.

<NihabaAshi> :)

ES Emini is still creeping lower as if it want's to go for a GAP fill. 09:53

<szubaark> Niha i see the same thing (engulfing of 8:30 White WRB) on 5min ES/NQ 09:54

<NihabaAshi> Yep...I forgot to mention the engulfing candle was a Dark WRB.

There goes my cushion (wiggle room) :( 09:56

<szubaark> now that Red WRB is getting retraced :((

<NihabaAshi> Covered Remainder ER2 Short @ 833.70 --> + 0.8 09:57

<pdays> New home sales Est 5.0 in @ 2.6 10:00

<NihabaAshi> Shorts ER2 @ 831.80 -> medium size

:(

Shorts ER2 @ 832.00 -> Add 10:01

<szubaark> exit stop set NQ @ 1878.50 «« paper »» 10:02

<NihabaAshi> Shorts ER2 @ 832.30 -> small size

Shorts ER2 @ 833.10 -> Add 10:04

I'm now at a normal large size position.

Covered 1/3 ER2 Short @ 831.80 --> + 1.3 10:07

<WannaBeBOS> nice trade niha

<NihabaAshi> The numbers are a little incorrect but that's ok. 10:08

<szubaark> Niha what was the reason u kept adding Shorts?

<NihabaAshi> Covered 1/3 ER2 Short @ 831.60 --> + 0.7 10:10

szu...price is within a resistance area (s/r zone).

It's now below the s/r zone. 10:11

Hopefully it keeps dropping to the next s/r zone.

Almost there...

<szubaark> ES NQ gap closing now :) 10:15

<NihabaAshi> Covered ER2 Short @ 829.90 --> + 2.4 10:16

Covered within another s/r zone. Holding 2 contracts just in case I got "lucky" and caught the early stage of a Trend Day (downward).

<pat255> vn niha ..

<NihabaAshi> szu...look at the 2min chart for ER2 at 0944am - 0946am est 10:17

That price range was my key s/r zone. 10:18

It's 833.90 - 832.50

What I did wrong in the trade management of the last trade was that I added two times a little too early prior to price reaching that s/r zone... 10:19

I got tricked by the volatility level. 10:20

Also, I was too slow in reacting for an ADD around 833.60 10:21

That last trade was via the 1min chart due to the Fed Chairman Bernanke speech. 10:22

I'm now switching to mainly using the 3min chart. 10:23

<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) 10:24

<pdays> Petro report 4 min 10:26

<NihabaAshi> Next s/r zone is 826.40 - 825.90 and below that is 825.00 - 823.90 10:27

Hopefully I can cover 1 contract in each of those s/r zones. 10:28

Got the perfect day for a trend day possibility...

Fed Chairman Bernanke, Home Reports and a EIA Petroleum Report. 10:29

<pdays> #s out 10:31

<NihabaAshi> No reaction so far :(

Not a good sign.

If volatility dries up further...I'm dumping my position. 10:32

Covered Remainder ER2 Short @ 831.40 --> + 0.9 10:35

As I said before, the numbers on the profits are incorrect due to the ADDs.

Those two contracts was only a +0.40 profit per. 10:36

<szubaark> crap..wanted 1870 on my Short now its back to my entry :( 10:45

<NihabaAshi> Taking a break from watching the paint dry since 1030am est. 10:50

Be back later. 10:51

* NihabaAshi is now known as NihabaAshi_away

<szubaark> Covered all Short NQ at 1878 --> - 3 «« paper »» 11:08

<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) 11:36

* codehead_afk is now known as codehead 11:56

<RussellDaytrade> excellent price action again today

<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) 12:48

* NihabaAshi_away is now known as NihabaAshi 13:43

<pat255> beige book @ 2? 13:53

<NihabaAshi> Yep...I'm just sitting here waiting for it :)\

<pat255> ty 13:54

looks like it is gonna blow up 13:56

<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) 13:57

<NihabaAshi> Long ER2 @ 835.80 -> small size 13:58

2 contracts only. 13:59

Long ER2 @ 835.00 -> Add 14:01

Exited 1/3 ER2 Long @ 835.50 --> + 0.5 14:04

I'm losing my patience on this price action :( 14:06

Exited 1/3 ER2 Long @ 836.80 --> + 1 14:07

Exited Remainder ER2 Long @ 838.20 --> + 2.4 14:09

<ItalianSharp> well done niha 14:10

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<PapaJon> looks like you kept it long enough tho niha.. :) 14:11

<NihabaAshi> That ADD gave me enough breathing room to keep my patience when I got +0.50 ticks out of the ADD.

That was the key to getting the +1 and +2.4 on the other contracts. 14:12

<szubaark> [10:30] <NihabaAshi> Got the perfect day for a trend day possibility... 14:28

too bad you did not know which way :))

IN HINDSIGHT, that opening drop was just Gap close then never looked back 14:32

<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) 15:06

<ItalianSharp> some heavy selling going on in the dow right now 15:45

T&S is all blooded 15:46

prices not dropping yet...still lots of buyers left i guess 15:49

as soon as longs start to cash in some profits, the dow will correct a bit

<NihabaAshi> It was a good trading day and only because of the key market events today brought some nice volatility. 16:35

Take care all and see all tomorrow.

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Wed Apr 25 16:40:40 2007 16:40

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