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#FuturesTrades April 29th Tuesday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+8.10	+233.00	+1425.90
$810	$23,300	$142,590

Profitable Trade

0941am - 1000am est

Losing Trade

"no losers today (rare)"

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: Tue Apr 29 06:23:22 2008Session Ident: #futurestrades

* Now talking in #futurestrades 06:23

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

<@NihabaAshi> I have a lot of personal stuff to do today... 06:29

Thus, I don't think I will be trading today.

Talk to all later

* NihabaAshi is now known as NihabaAshi_away 06:30

<@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 07:09

* Retrieving #futurestrades modes... 07:20

<nqcruiser> is there a way i can set MIRC 08:52

<+nqcruiser> to see only moderators posts

<werner> hi all 08:53

<stoch08> gm all 08:54

<@NihabaAshi_away> nqcruiser, there is a way but I don't know how. 08:55

You can go to #help room (they are the othernet folks) and ask them that question. 08:56

It may require a special script is my guess and they may be able to help you.

[06:29] <@NihabaAshi> I have a lot of personal stuff to do today... 08:57

[06:29] <@NihabaAshi> Thus, I don't think I will be trading today.

<pat12> gm all NihaSession Close: Tue Apr 29 09:02:36 2008 08:59

Session Start: Tue Apr 29 09:02:36 2008Session Ident: #futurestrades

* Disconnected 09:02

* Attempting to rejoin channel #futurestrades 09:03

* Rejoined channel #futurestradesSession Close: Tue Apr 29 09:04:29 2008 09:04

Session Start: Tue Apr 29 09:04:29 2008Session Ident: #futurestrades

* DisconnectedSession Close: Tue Apr 29 09:04:29 2008

Session Start: Tue Apr 29 09:30:36 2008Session Ident: #futurestrades

* Now talking in #futurestrades 09:30

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

<DrTT> gm everyone

<futurible> gm all

<@NihabaAshi> I have a busy day today...will try to squeeze off a few trades 09:32

<PapaJon> just heard... Bush spose to be talking in about an hour re: the economy 09:34

<+PapaJon> just a heads up

<+Spartan> Long ES @ 1395.25 -> small size «« paper »»

geez, wakeup es 09:36

Exited all ES Long @ 1395.25 --> 0 «« paper »»

finally woke up :( 09:37

<@NihabaAshi> Be careful all... 09:38

That 10am est Consumer Confidence report will be well watched by the big boys or those that can move the markets in a parabolic way 09:39

There's just a little more hype with that report above the norm for it.

<+Spartan> Long ES @ 1397.50 -> small size «« paper »» 09:40

<@NihabaAshi> Shorts ER2 @ 724.50 -> medium size 09:41

<+Spartan> Exited all ES Long @ 1396.75 --> - 0.75 «« paper »»

<@NihabaAshi> intuition only

<+PapaJon> nice intuition niha 09:42

<lumenPharmer> ts a mess here 09:43

<werner> here also...pfffffffff

<+Spartan> Shorts ES @ 1396 -> small size «« paper »»

<@NihabaAshi> Covered 3/4 ER2 Short @ 722.70 --> + 1.8 09:44

<+Spartan> Covered all ES Short @ 1394.50 --> + 1.5 «« paper »»

<Pepe> very nice Niha 09:45

<+futurible> vn NIHA for your intuition

<@NihabaAshi> :) 09:46

Not sure if my remainder can survive the 10am est price move...

tightning up my trailing stop

exit stop lowered ER2 @ 724.00 09:47

<startrader> Shorts ES @ 1395.25

<+Spartan> Shorts ES @ 1395 -> small size «« paper »» 09:48

<@NihabaAshi> weak resistance area around 723.40 09:50

<+werner> djeez ts 09:51

<@NihabaAshi> So far via the price action, consumers don't have a lot of confidence. 09:54

<+werner> lol

<@NihabaAshi> If ER2 gets about that 734.40 resistance area... 09:55

I too won't have a lot of confidence on my Short

<+startrader> Covered 1/2 ES Short @ 1393.75 --> + 5.25

<+pat12> vn star

<@NihabaAshi> exit stop lowered ER2 @ 723.50 09:56

<+Spartan> Covered all ES Short @ 1394.25 --> + 0.75 «« paper »»

nq sacaring me

<Andy> my tradestation has died :(

<+lumenPharmer> Data probs andy 09:57

<+Andy> 3 min to consumer confidence

yes, lP 09:58

as in no data, right now

<+lumenPharmer> lol, ts said they were having data probs

<+Spartan> Shorts ES @ 1393.50 -> small size «« paper »» 09:59

<+lumenPharmer> hehehe we are all having data probs

did u upgrade yet andy?

<+Spartan> Covered all ES Short @ 1395.50 --> - 2 «« paper »» 10:00

<@NihabaAshi> Trailing Stop Hit ER2 @ 723.50 --> + 1

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)

<+Andy> no...I always let as much time as possible pass so they can work out the kinks

<+lumenPharmer> people trying to blame it on the upgrade, but ts says its the data

<szubaark> Shorts ES @ 1395.75 «« paper »» 10:01

<+Spartan> Long ES @ 1396 -> small size «« paper »» 10:02

<+Andy> ts back on line here

<@NihabaAshi> Shorts ER2 @ 722.60 -> small size

<+lumenPharmer> NQ in its own world right now

<+Spartan> Exited all ES Long @ 1394 --> - 2 «« paper »»

<@NihabaAshi> intuition only

<+szubaark> Covered all Short ES at 1393.75 --> + 2 «« paper »»

<+Spartan> Shorts ES @ 1393.25 -> small size «« paper »» 10:03

Covered all ES Short @ 1395.25 --> - 2 «« paper »» 10:04

<+szubaark> ping pong type price action

<+Spartan> Should have stayed away from the report trade(s)

was up, now down:( 10:05

<@NihabaAshi> NQ holding up well so far

<+szubaark> yup

<+Spartan> very well 10:06

<+szubaark> Shorts ES @ 1393.75 «« paper »»

<+Spartan> Long ES @ 1394.50 -> small size «« paper »» 10:07

<@NihabaAshi> volatility dropping fast

I didn't expect that...my trade is now high risk :( 10:08

Covered all ER2 Short @ 722.50 --> + 0.1 10:09

<+szubaark> Covered all Short ES at 1394 --> - 0.25 «« paper »» 10:10

<+startrader> Covered Remainder ES Short @ 1393 --> + 2.25

<@NihabaAshi> weak support area around the intraday lows

<+szubaark> Shorts ES @ 1393 «« paper »» 10:11

<+Spartan> Exited all ES Long @ 1392.50 --> - 2 «« paper »»

<+startrader> Long ES @ 1392.75

<+Spartan> got beat down trading news today, calling it quits, good luck everyone! 10:12

<@NihabaAshi> Gold dropping hard and Oil trying to follow 10:13

* Spartan is now known as Spartan_Away

<+startrader> Long ES @ 1392.50 -> Add

<@NihabaAshi> Shorts ER2 @ 721.70 -> small size 10:14

<+szubaark> all markets getting in sync now

<@NihabaAshi> Yeah and hopefully they can stay the way 10:15

At least until I reach a profit target

<+Andy> Long ES @ 1391.75 «« paper »»

<+szubaark> we need more followthru and less jumpy price action

<@NihabaAshi> I'm short at a support area...

This thing can bounce a whole point against me in a blink of an eye 10:16

Gold trying hard to find its own support level

<+szubaark> im looking for one more spike to downside 10:17

<+Andy> Exited all ES Long @ 1391.25 --> - 0.5 «« paper »»

<@NihabaAshi> Geeesh...

<+szubaark> Covered all Short ES at 1391.75 --> + 1.25 «« paper »» 10:18

missed my target entry by 1 Tick

<+startrader> Long ES @ 1391.50

<@NihabaAshi> Covered all ER2 Short @ 721.00 --> + 0.7 10:20

Be back later all...need to be out of here by 1030am est for an appointment @ 11am est 10:24

<+startrader> could be a 10:30 reversal setting up. 10:31

<A22> Long NQ @ 1922.5 «« paper »» 10:52

<+startrader> 87 handle 50% of 4.22 lows and r2 on es and ym reached. 10:53

<+A22> Exited 1/2 NQ Long @ 1923.75 --> + 1.25 «« paper »»

Exited Remainder NQ Long @ 1923 --> + 0.5 «« paper »» 10:54

error :( 10:56

oops

<@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 11:07

<szubaark_Away> Buys ES @ 1391.50 «« paper »» 11:29

<+Andy> Shorts ES @ 1391 «« paper »» 11:30

* codehead_afk is now known as codehead 11:35

<+Andy> Covered 1/4 ES Short @ 1390.5 --> + 0.5 «« paper »» 11:41

Covered 1/4 ES Short @ 1390.25 --> + 0.75 «« paper »» 11:43

<+startrader> Long ES @ 1390.25 11:44

<+Andy> Covered 1/4 ES Short @ 1390.25 --> + 0.75 «« paper »» 11:45

<+szubaark_Away> Exited all Long ES at 1389.75 --> - 1.75 «« paper »» 11:51

Shorts ES @ 1389.75 «« paper »»

<+Andy> Covered Remainder ES Short @ 1390.5 --> + 0.5 «« paper »» 11:53

<+startrader> Long ES @ 1389.50 11:57

<+szubaark_Away> markets waiting for FOMC announcment tomorrow 11:58

<+Andy> Long ER2 @ 716.8 «« paper »» 12:02

Exited 1/3 ER2 Long @ 717.2 --> + 0.4 «« paper »» 12:04

<HK> Shorts ER2 @ 716.9 «« paper »» 12:12

<+Andy> Exited Remainder ER2 Long @ 716.7 --> - 0.1 «« paper »» 12:13

* szubaark_Away is now known as szubaark

<+HK> Covered ER2 Short @ 716.6 --> + 0.3 «« paper »» 12:14

Reverse and Enter Long ER2 @ 716.6 «« paper »»

Long ER2 @ 715.9 -> Add «« paper »» 12:17

<+startrader> Exited 1/2 ES Long @ 1392 --> - 0.5 12:29

<+HK> Exited all ER2 Long @ 717.2 --> + 1.9 «« paper »» 12:30

<+startrader> Exited Remainder ES Long @ 1392 --> + 2.5

<+HK> Shorts ER2 @ 716.8 «« paper »» 12:34

Covered ER2 Short @ 717.3 --> - 0.5 «« paper »» 12:40

Reverse and Enter Long ER2 @ 717.3 «« paper »»

<+startrader> Shorts ES @ 1392.50 12:42

<+HK> Long ER2 @ 716.2 -> Add «« paper »» 12:50

Long ER2 @ 714.8 -> Add «« paper »» 13:06

<+szubaark> Covered all Short ES at 1392.25 --> - 2.5 «« paper »» 13:11

Buys ES @ 1392.25 «« paper »»

pump it before FOMC then Dump it? 13:12

<+HK> Exited 2/3 ER2 Long @ 717.4 --> + 2.6 «« paper »» 13:13

<+szubaark> nice HK

<@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

<+HK> tnx szu-wish it was real $

<+szubaark> u getting good results on paper? 13:14

<+HK> yes, now testing new plaform 13:15

Exited Remainder ER2 Long @ 717.9 --> + 0.6 «« paper »» 13:20

<pdays> Long ER2 @ 717.2 13:25

<+codehead> 720.0 is .382 if the ER holds 13:31

<rickf> short es 1394 paper 13:34

<+pdays> Exited 1/2 ER2 Long @ 718.0 --> + 0.8 13:35

exit stop moved to breakeven ER2 @ 717.2

exit stop raised ER2 @ 717.7 13:41

<+rickf> exit es 1393 +1 paper (late post) 13:52

WRB Analysis

Learn More

<+pdays> Trailing Stop Hit ER2 @ 717.7 --> + 0.5 13:54

<+HK> anyone know how to turn off in mIrc who's coming, quitting, disconnect...just want to see the postings 14:21

<Brutus-L1> click on little book (top right hand of channel) - events - modify as required 14:24

<+HK> ok, i'll try that. thx Brutus. 14:26

<+Brutus-L1> yw - correction top left

<+HK> got it, thx 14:27

720 target 14:31

<+szubaark> Exited all Long ES at 1392.75 --> + 0.5 «« paper »» 14:39

Shorts ES @ 1393 «« paper »» 14:40

Covered all Short ES at 1394.75 --> - 1.75 «« paper »» 14:43

Buys ES @ 1394.75 «« paper »» 14:44

<+startrader> Shorts ES @ 1396.75 14:48

<+codehead> ER hit the .382, exceeded it by 1.1...

721.7 is .500 retracement

<+szubaark> Exited all Long ES at 1396 --> + 1.25 «« paper »» 14:50

<+startrader> Shorts ES @ 1397 -> Add 14:58

<+rickf> short es 1396.25 paper 15:00

<+codehead> dink--721.70 hit, .500 retracement 15:03

if ER breaks 721.70, next is 723.4 15:09

for .618

has a wave target at 722.2 also 15:10

only got a tick thru .500 so far, they're trying to hold it there 15:16

<@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

<+rickf> exit 1/2 es 1394.25 +2 paper 15:22

<+HK> Long ER2 @ 719.6 «« paper »» 15:24

<+rickf> exit remainder es 1395 +1.25 paper 15:25

k guys need to run. good trading, see you tomorrow 15:28

<+startrader> Covered all ES Short @ 1392.75 --> + 8.25 15:31

Shorts ES @ 1393.25 -> small size 15:33

Shorts ES @ 1394.25 -> Add 15:37

<+HK> Long ER2 @ 719.1 -> Add «« paper »» 15:40

<+startrader> Covered 1/2 ES Short @ 1392.25 --> + 2 15:47

<+HK> Exited all ER2 Long @ 719.9 --> + 1.1 «« paper »» 15:48

<robert> wtg star 15:53

<+startrader> ty 15:54

<+HK> Long ER2 @ 717.9 «« paper »» 15:56

<+startrader> Covered Remainder ES Short @ 1392 --> + 1.25 15:59

<+HK> Exited all ER2 Long @ 719.9 --> + 2 «« paper »» 16:00

<+Brutus-L1> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={d9e13 0ff-4cad-48e8-9f0d-b07e699adcf0}

<+werner> gn all 16:10

<mishnas> anyone here trade the Russell? 16:55

<@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 17:22

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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.