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#FuturesTrades April 30th Wednesday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+15.80	+248.80	+1441.70
$1,580	$24,880	$144,170

Profitable Trade

1512pm - 1515pm est

Losing Trade

1521pm - 1529pm 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 30 09:33:25 2008Session Ident: #futurestrades

* Now talking in #futurestrades 09:33

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

<Andy> "generally" positive bias into expected fed rate cut 09:35

<szubaark> Buys ES @ 1395.25 «« paper »» 09:36

<KN-ES> Shorts ES @ 1394.75 09:38

<rickf> short es 1394.75 paper

<+KN-ES> s.l 1 09:39

Covered ES Short @ 1394.50 --> + 0.25 09:41

Reverse and Enter Long ES @ 1394.50

s.l 1

Exited 3/4 ES Long @ 1395.50 --> + 1 09:42

<+rickf> exited TYM8 short +103' 09:44

<+szubaark> whats TYM8? 09:45

<+KN-ES> Exited 1/3 ES Long @ 1396.50 --> + 2

out 2

<+rickf> 10 year note futures -- had 'em short for a few days

<+KN-ES> h5

<+rickf> wanted to clear out before fed

<+KN-ES> Exited 1/3 ES Long @ 1397.50 --> + 3 09:46

<+szubaark> Exited all Long ES at 1397.25 --> + 2 «« paper »»

<+KN-ES> out 2

h3

Exited ES Long @ 1397.25 --> + 2.75

Reverse and Enter Short ES @ 1397.25

Covered 3/4 ES Short @ 1396.25 --> + 1 09:47

<+rickf> nice run kn

<+KN-ES> s.l 1

thanks rickf

Covered ES Short @ 1396.25 --> + 1

Reverse and Enter Long ES @ 1396.25

s.l 1

Exited 3/4 ES Long @ 1397.50 --> + 1.25 09:52

Exited ES Long @ 1397.25 --> + 1

Reverse and Enter Short ES @ 1397.25

s.l 1

<+szubaark> Shorts ES @ 1396.25 «« paper »» 09:53

<@NihabaAshi> Shorts ER2 @ 722.10 -> small size 09:54

<+KN-ES> Covered 3/4 ES Short @ 1395.75 --> + 1.5

Covered ES Short @ 1395.75 --> + 1.5 09:55

Reverse and Enter Long ES @ 1395.75

s.l 1

Exited ES Long @ 1395.50 --> - 0.25 09:56

Reverse and Enter Short ES @ 1395.50

Covered ES Short @ 1394.75 --> + 0.75 09:57

Reverse and Enter Long ES @ 1394.75

s.l 1

<@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 09:58

<@NihabaAshi> Covered all ER2 Short @ 721.80 --> + 0.3 09:59

<+rickf> exited es 1394.75 +0 paper

<@NihabaAshi> Getting too jumpy as if some traders think there's a 10am est report when there isn't

<+szubaark> Covered all Short ES at 1395 --> + 1.25 «« paper »» 10:01

too jumpy

<+rickf> short es 1395.25 paper 10:02

<+KN-ES> Exited 3/4 ES Long @ 1395.75 --> + 1 10:03

<+szubaark> Shorts ES @ 1395.50 «« paper »»

<PapaJon> I think there is more than normal confusion about what the fomc report may or maynot do to the market.... 10:05

<+PapaJon> Lots of indecision

<+rickf> agreed

<+PapaJon> no commitment

<Pepe> Niha can you lokk here? 10:06

<+Pepe> sorry, wrong room

<Bambam-77> using 94 as a short triger 10:08

<+Bambam-77> so longs above ss below

<+KN-ES> Exited 1/3 ES Long @ 1396.25 --> + 1.5 10:10

out 2

h5

Exited 1/3 ES Long @ 1395.75 --> + 1 10:13

h3

<+rickf> exit es 1395 +.25 paper

done for now -- my head ain't in the game today after 2 bad entries

back later 10:14

<+KN-ES> Exited ES Long @ 1395.5 --> + 0.75

Reverse and Enter Short ES @ 1395.5

s.l 2 10:15

<+szubaark> Covered all Short ES at 1395.75 --> - 0.25 «« paper »» 10:17

Shorts ES @ 1394.50 «« paper »»

<+KN-ES> Covered 3/4 ES Short @ 1394 --> + 1.5 10:18

Covered 2/3 ES Short @ 1393.50 --> + 2 10:19

h4

Covered ES Short @ 1393.75 --> + 1.75 10:20

Reverse and Enter Long ES @ 1393.75

s.l 1

Exited 3/4 ES Long @ 1394.75 --> + 1 10:21

Exited 1/3 ES Long @ 1395.25 --> + 1.5 10:24

h5

Exited 1/3 ES Long @ 1395 --> + 1.25 10:25

h3

<A22> petroleum status report 10:30 10:30

<+szubaark> Covered all Short ES at 1395.75 --> - 1.25 «« paper »»

Buys ES @ 1395.75 «« paper »» 10:31

<+KN-ES> Exited 1/3 ES Long @ 1395.75 --> + 2

h2

<@NihabaAshi> Long ER2 @ 724.00 -> small size 10:33

intuition only 10:34

<+KN-ES> Exited 1/3 ES Long @ 1396.75 --> + 3

h1

<+szubaark> nice KN

<+KN-ES> thanks szubaark

Exited ES Long @ 1396.50 --> + 2.75 10:35

Reverse and Enter Short ES @ 1396.50

s.l 2

<+szubaark> Exited all Long ES at 1395.25 --> - 0.5 «« paper »» 10:47

Shorts ES @ 1395.25 «« paper »» 10:48

<+KN-ES> Covered 3/4 ES Short @ 1395.50 --> + 1

<@NihabaAshi> ER2 on its own because it doesn't have the support of all key markets except for a few. 11:04

Exited 2/3 ER2 Long @ 725.30 --> + 1.3 11:05

<+szubaark> i got faked out too much by the noise today 11:07

* codehead_afk is now known as codehead 11:11

<pdays> Shorts ER2 @ 725.7 11:17

<+pdays> Shorts ER2 @ 725.9 -> Add 11:24

Covered all ER2 Short @ 725.6 --> + 0.4

<@NihabaAshi> Exited Remainder ER2 Long @ 724.30 --> + 0.3 11:35

<@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 12:04

<+Pepe> Guys, what do you expect today? FED 2.00% 12:07

I think the market need 2.00% Federal Funds Rate. And then market UP, dollar down, Gold and Oil down. 12:08

:)

<+rickf> back 13:24

looking at the es pa today it's been far more 'fluid' than other fed days. usually these days are boring until 2:15 13:32

weird

short es 1398.25 paper 13:47

exit 1/2 es 1387.25 +1 paper 13:48

exit remainder es 1396 +2.25 paper 13:57

* Spartan_Away is now known as Spartan 14:03

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)

<@NihabaAshi> Long ER2 @ 725.00 -> small size 14:07

<+rickf> hrmmm 14:08

<@NihabaAshi> I didn't expect to get a fill so soon :)

<+rickf> :) 14:09

<@NihabaAshi> tight trailing stop now...lets see what happens. 14:10

<@NihabaAshi> Worst...a +0.1 tick profit

<+rickf> :( 14:11

<+KN-ES> Long ES @ 1401.00

nop

Shorts ES @ 1401 14:12

<+szubaark> Kiss 1404 then send it Screaming down? LOL

<@NihabaAshi> Exited ER2 Long @ 725.10 --> + 0.1

Now I sit and watch for awhile 14:13

<pat255> that is better KN ...

<+rickf> same here - waiting for the "wave effect" for possible setup

<+KN-ES> scale in entries

from 1 to 12

<+szubaark> then again it might just go Flat after announcment 14:15

<@NihabaAshi> Any rate surprise that's not a 1/4 cut...should produce a strong parabolic price movement

<+KN-ES> Shorts ES @ 1402 -> Add

<+rickf> short at 1399 paper 14:16

<+szubaark> 1404 kissed

<+KN-ES> didnt get filled

<@NihabaAshi> .25 cut announced

<+KN-ES> Covered 1/2 ES Short @ 1396 --> + 6

<@NihabaAshi> Long ER2 @ 723.00 -> small size 14:17

<+KN-ES> Covered 1/4 ES Short @ 1399 --> + 2

<+rickf> exit 96.50 3.5 paper

<+KN-ES> Covered ES Short @ 1401.00 --> 0

Reverse and Enter Long ES @ 1401.00

<@NihabaAshi> intuition only

<+KN-ES> Exited 1/2 ES Long @ 1403 --> + 2

<+rickf> long 1401.50

paper 14:18

<+KN-ES> Exited ES Long @ 1403 --> + 2

Reverse and Enter Short ES @ 1403

<+rickf> exit es 1406 +5.5 paper

<+KN-ES> Shorts ES @ 1405 -> Add

<+szubaark> first reaction up, now lest see if they whack it down

<+rickf> short 1404 paper

<+KN-ES> sl. 12

<@NihabaAshi> tighting up my stops again

<+KN-ES> brb 14:19

<@NihabaAshi> exit stop raised ER2 @ 724.00

<+rickf> exit 1403.75 paper

not getting greedy

<@NihabaAshi> EER2 pausing temporaily 14:20

That's a sign its' going to pop again...

Hopefully up and not down

<+KN-ES> Shorts ES @ 1405

add

<@NihabaAshi> volatility contracting fast

<+szubaark> and down she goes 14:21

<+rickf> wow yeah, niha

<+KN-ES> Covered 1/2 ES Short @ 1402 --> + 3

<+rickf> short es 1402.25 paper 14:22

<@NihabaAshi> Trailing Stop Hit ER2 @ 724.00 --> + 1

<+rickf> exit 1/2 es 98.25 + 4 paper 14:23

<@NihabaAshi> buy limit to enter long ER2 @ 722.00 14:24

Long ER2 @ 722.00

<+rickf> exit remainder es 1398 +4.25 paper 14:25

whew :) 14:26

<+KN-ES> nice trade rickf

<+rickf> thx kn -- best series i've done in a while

<+KN-ES> Covered 1/4 ES Short @ 1400 --> + 5

<@NihabaAshi> Exited 2/3 ER2 Long @ 724.30 --> + 2.3

<+rickf> you're on fire, per usual :) 14:27

<@NihabaAshi> exit stop raised ER2 @ 722.10

exit stop raised ER2 @ 722.50 14:29

<+rickf> nice niha

<@NihabaAshi> Trying to give this trade some room to breadth

:(

Trailing Stop Hit ER2 @ 722.50 --> + 0.5

<+szubaark> setting up for next Volatility spike 14:30

<@NihabaAshi> 1 contract only for the remainder of the trading day

<+rickf> es volatility is tight

yep

<+Spartan> Long ER2 @ 1403 -> small size «« paper »» 14:32

<+rickf> i went to the 1m chart at 2:14 -- forgot how noisy it can be after trading off 3m for the past month or two. :(

but helpful on fed days

<@NihabaAshi> Price action trying hard to become bullish

It's got support in place around 723.80 14:33

Meant 723.80 - 723.10

<+szubaark> retracing the last Red WRB 14:34

<@NihabaAshi> Long ER2 @ 723.50 -> small size 14:35

<+rickf> short es 1401.75 paper small sz

<@NihabaAshi> intuition only and 1 contract only

<+KN-ES> vol dropping....... 14:36

most likely end of upside run

<@NihabaAshi> volatility declining more

<+KN-ES> vol less then 4k 14:37

not a good news

<+szubaark> lots of noise now, just wait and see and Wide Stops

<+KN-ES> for either side

<+rickf> exit es 1401 +.75 paper

yep - folks still repositioning i guess

<@NihabaAshi> ER2 probing that lower support area of 723.10

Exited ER2 Long @ 722.80 --> - 0.7 14:40

<+KN-ES> anyone watcing uefa cup soccer........... not a good time for me to trade today 14:41

well at this moment,

<+szubaark> KN u watching TV and trading at same time? i coudnt do that, i need Silence 14:42

<+KN-ES> one thing for sure, it may go down or may not go down BUT most likely doesnt have enough vol to break out upside

<@NihabaAshi> Long ER2 @ 723.10 -> small size

<+KN-ES> hahaha

its liverpool

i dont think i will miss it for anything :)

<+szubaark> You going against Pros that watch EVERY Tick 14:43

<+KN-ES> i have covered my stop loss

already with first 2 trades

and otu 3/4th of this trade :) 14:44

<+rickf> i turned the tv off when trading -- even on fed days, it gets too distracting

<@NihabaAshi> Exited ER2 Long @ 724.30 --> + 1.2

<+KN-ES> i am trying to hold onto my trade while trying not to miss a sec of the game

<+szubaark> Ive heard a lot of Pros do Meditation, Yoga etc before EACH Opening day 14:45

<+KN-ES> and i got back from NY just and just for this match

:)

<+rickf> szu - i hit the gym at 11 each day --- figure that will ensure i don't trade during my 'bad' periods :) 14:46

clears my head, i can run errands after, do other work, and then come back for the pm session

<+szubaark> meanwhile, Price doing nothing 14:48

<+KN-ES> :)

dont know about yoga or gym...........just start when i feel like getting up 14:49

<+szubaark> that 1400 is defended on ES,,cant go thru it

<+KN-ES> well, dont have enough vol at this moment to break out upside either 14:50

so playing short should be the safe game here

<+szubaark> "Volume" "Volatility", whatever u wanna call it. can come in at any milli-second

<+KN-ES> Covered 1/3 ES Short @ 1399 --> + 6

out 2

not 1/3 14:51

we will see 89.50 sometime today, i guess

tp1 98 (+7) tp2 97 (+8) tp3 96 (+9) tp4 95 (+10) tp5 94 (+11) tp6 93 (+12) 14:54

<+rickf> short es 1398.75 paper sm sz

<+szubaark> nice KN

<+KN-ES> Covered 1/3 ES Short @ 1398 --> + 7

<+Spartan> Exited all ER2 Long @ 1397 --> - 6 «« paper »»

<+KN-ES> Covered 1/3 ES Short @ 1397 --> + 8

Covered 1/3 ES Short @ 1396 --> + 9 14:55

<+rickf> exit 1/2 es short 95.50

+3,25 paper

<+KN-ES> and will hold 2 after tp6

<+rickf> gahd

<+KN-ES> need to go back to the game

Covered 1/3 ES Short @ 1395 --> + 10

<+rickf> vn

<@NihabaAshi> nice

<lumenPharmer> wtg kn

<+KN-ES> thanks 14:56

<+szubaark> Nice 10pt KN

<+rickf> that drop happened right as i got filled

<+KN-ES> Covered 1/3 ES Short @ 1394 --> + 11 14:59

all 1 contracts.......not 1/3

Covered 1/3 ES Short @ 1393 --> + 12 15:00

h 2

tp1 89.50

tp2 85.75

<+codehead> long 715.90 ER <paper> 15:01

<+KN-ES> s.l 1404 (+1.00)

<+szubaark> Covered all Short ES at 1392 --> + 3.25 «« paper »» 15:02

<+codehead> exit half ER 716.90 <paper>

+1

<robert> wtg KN

<+rickf> exit 1/2 es 1393 +5,75 paper

<+KN-ES> cool 15:03

<@NihabaAshi> Shorts ER2 @ 715.50 -> small size 15:04

<+szubaark> again, tough FOMC day for me, but made it Profitible after breaking rules :(

<@NihabaAshi> intuition only 15:05

Covered ER2 Short @ 716.20 --> - 0.7 15:09

<+rickf> exit 1/2 es 1392 +6,75 15:10

paper

<+codehead> exit remainder ER +1.2 <paper> so i can get back to work 15:11

but potential target of 720.2, maybe not today

<@NihabaAshi> Shorts ER2 @ 715.50 -> small size 15:12

<+rickf> exit es remainder 1388.50 +10.25 paper !

<+codehead> long ER 714.80 <paper>

exit ER +1 <paper>

long ER 713.60 <paper> 15:13

<+KN-ES> Covered 1/3 ES Short @ 1385 --> + 20 15:14

WRB Analysis

Learn More

<+codehead> add ER 712.60 <paper>

<+KN-ES> h1

<+rickf> vn

<+KN-ES> :) 15:15

thanks

tp 1380+-

<@NihabaAshi> Covered ER2 Short @ 712.80 --> + 2.7

<+KN-ES> sl 1395 (+10.00) 15:17

<+codehead> exit add ER +1 <paper>

exit other +.70 <paper>

<+KN-ES> huge vol 15:19

<@NihabaAshi> weak support here for ER2 15:20

<+codehead> 718.5 possible bounce target

<+KN-ES> 55k vol

<+rickf> done for day - going to sit and watch now

<+KN-ES> or...... taking profit

<@NihabaAshi> Long ER2 @ 714.90 -> small size 15:21

I'm losing my patience...ER2 should have tested 716.00 by now 15:26

volatility contracting fast 15:27

volatility spike 15:28

Exited ER2 Long @ 713.20 --> - 1.7 15:29

Shorts ER2 @ 713.00 -> small size 15:30

Covered ER2 Short @ 712.90 --> + 0.1 15:32

<+codehead> long ER 712.80 <paper>

typed it in wrong room

exit +1 <paper>

<@NihabaAshi> Long ER2 @ 714.00 -> small size

Lets see if I can geet that 716.00 price area now 15:35

It shook me out good once...lets see if it can do it again.

volatility contracting 15:36

tightning up trailing stop 15:37

exit stop raised ER2 @ 714.20

Trailing Stop Hit ER2 @ 714.20 --> + 0.2 15:40

We're now in that rush hour traffic zone

Long ER2 @ 714.00 -> small size 15:42

One try at it...last trade of the day.

exit stop raised ER2 @ 714.20 15:43

Exited ER2 Long @ 716.60 --> + 2.6 15:45

Got 6 ticks more than plan... 15:46

I'm done for the day

<+lumenPharmer> nice niha 15:48

<+rickf> least you ended on a profit :)

good way to finish

<@NihabaAshi> Yeah...took a few trades more than I wanted because that price zone off the lows was big 15:50

Around 2 points

<Brutus-L1> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={50563 4df-57ba-40f4-b4de-8278b056512a} 16:02

* NihabaAshi is now known as NihabaAshi_away 16:07

<@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 16:13

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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.