May 1st Monday 2006 Trade Log
#FuturesTrades is a private and free realtime trading posting chat room on the IRC Othernet server that allows traders from all over the world to communicate.
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In addition, NihabaAshi is the only trader in #FuturesTrades that represents TheStrategyLab.com strategies.
Further, you'll find below the chat room text log of realtime trades (real money and simulator) that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est).
Also, you should read NihabaAshi's trading blog like comments (posted below after the trade posts) because sometimes the commentary will contain trading tips that are more useful than what you will see at any other futures blog.
Session Start: Mon May 01 09:27:52 2006Session Ident: #futurestrades * Now talking in #futurestrades 09:27 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <ice1962> gm all 09:28 <NihabaAshi> Europe is closed via May Day holiday (international workers day). <WannaBeBOS> gm 09:29 <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, IWM, QQQQ, SPY) 09:32 <pat255> gm all <eminitrader> morn ice62, wbb, pat255 <pat255> morn emini 09:34 <eminitrader> hi pat255 09:35 <ice1962> morn mini 09:38 <eminitrader> hi ice <ice1962> what is this sunny New York day going to bring <eminitrader> wish i knew ahead of time :) 09:39 <ice1962> long es 1321 <NihabaAshi> Shorts NQ @ 1716.75 -> small size 09:40 <ice1962> close .25 <NihabaAshi> Covered NQ Short @ 1718.00 --> - 1.25 09:41 Reverse and Enter Long NQ @ 1718.00 If I reverse into a Short again...it will bump it up to 2 contracts. 09:42 Will keep my overall size small due to Europe's May Day holiday and the timing of the U.S. protests on "international day". 09:43 Exited NQ Long @ 1718.25 --> + 0.25 09:44 Shorts NQ @ 1716.25 -> small size 09:46 2 contracts only <eminitrader> Long ES @ 1320.25 09:47 <aym> Short ES @ 1321, Risk 2. 09:50 <eminitrader> Exited 1/3 ES Long @ 1321.25 --> + 1 09:51 exit stop raised ES @ 1319.75 09:53 <NihabaAshi> Covered NQ Short @ 1718.25 --> - 2 09:54 Reverse and Enter Long NQ @ 1718.25 Long NQ @ 1718.75 -> Add No way.... Pres. Bush now live on TV :( 09:55 <eminitrader> exit stop moved to breakeven ES @ 1320.25 <NihabaAshi> Looks like my trade is dead in the water and Bush speech will have a lot of impact on the pending 10am est key econ reports :( 09:57 <eminitrader> Trailing Stop Hit ES @ 1320.25 --> 0 <NihabaAshi> Somebody needs to give that guy a key economic calendar of when not to go live on TV :) 09:58 <pat255> yeah agree ...lol 09:59 <NihabaAshi> Exited NQ Long @ 1716.25 --> - 2 Reverse and Enter Short NQ @ 1716.25 Switch into a Large short position. 10:00 Thanks to Bush...had no choice in the matter. If NQ test the 1713.00 I'll add to the position. 10:02 Nevermind...I see a White Hammer Line on NQ 2min chart that's trying hard to give NQ some support. 10:03 Covered all NQ Short @ 1715.75 --> + 0.5 10:05 Shorts NQ @ 1714.50 -> large size 10:07 Covered NQ Short @ 1716.25 --> - 1.75 10:09 Reverse and Enter Long NQ @ 1716.25 Europe is on vacation and protesters are headline news in the U.S...not exactly bullish conditions to keep this market up... 10:10 :( 10:11 <WannaBeBOS> i agree <NihabaAshi> Exited all NQ Long @ 1717.25 --> + 1 10:12 Shorts NQ @ 1715.50 -> large size 10:14 <eminitrader> Long ES @ 1320 <NihabaAshi> Looking for that ADD again around the 1713.00 area if this drops. 10:15 No White Hammer Line to mess with my Short positions this time :) <substanz> Long YM @ 11435 «« paper »» 10:18 <NihabaAshi> Geesh :( 10:19 NQ should be at 1712.00 by now. <eminitrader> Exited all ES Long @ 1319 --> - 1 10:21 <NihabaAshi> No ADD. 10:22 I see something bullish trying to setup. * JavaGuest781 is now known as ice1962 10:23 <NihabaAshi> Covered all NQ Short @ 1714.50 --> + 1 <ice1962> tradestation keep breaking up on me. <NihabaAshi> Will only Short this again if something bearish appears above 1718.00 10:24 <eminitrader> must be the internet ..ts ok here <NihabaAshi> If NQ drops like a rock without going above 1718 again... I'll just sit hear and watch and not jump on the band wagon. 10:25 May move over to ER2 if a short signal appears. Shorts ER2 @ 770.20 -> small size 10:30 1 contract only. Covered ER2 Short @ 770.00 --> + 0.2 10:32 <eminitrader> Long ES @ 1319 <aym> Cover ES @ 1318.75 10:34 <NihabaAshi> Long ER2 @ 769.70 -> small size 2 contracts only. Will take a break and get some personal stuff done after I close this trade... Maybe when I return the price action will improve for me to sink me teeth into something that has stable volatility. 10:35 Exited ER2 Long @ 769.00 --> - 0.7 10:37 Reverse and Enter Short ER2 @ 769.00 Shorts ER2 @ 768.50 -> Add 10:38 Shorts ER2 @ 768.00 -> Add <substanz> Exited all YM Long @ 11425 --> - 10 «« paper »» <NihabaAshi> Turning this trade into a position trade... 10:41 If I'm wrong...I'll need to be aggressive tomorrow morning out of the gate to compensate for today's loses. <eminitrader> Long ES @ 1317 -> Add 10:42 <NihabaAshi> exit stop raised ER2 @ 771.00 Be back later by 1130am est and if stop is hit while I'm gone...will post late trade result. 10:43 * NihabaAshi is now known as NihabaAshi_away 10:44 <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, IWM, QQQQ, SPY) <eminitrader> Exited 1/2 ES Long @ 1319 --> + 2 10:52 exit stop raised ES @ 1317 Trailing Stop Hit ES @ 1317 --> - 2 11:07 <pdays> Long ER2 @ 767.3 «« paper »» 11:12 Exited ER2 Long @ 768.2 --> + 0.9 «« paper »» 11:17 Reverse and Enter Short ER2 @ 768.2 «« paper »» Covered all ER2 Short @ 767.9 --> + 0.3 «« paper »» 11:21 * NihabaAshi_away is now known as NihabaAshi 11:46 <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, IWM, QQQQ, SPY) 11:56 <NihabaAshi> Covered 1/4 ER2 Short @ 766.80 --> + 1.2 12:25 I'm going to take advantage of this current price action and start looking for an area to close my position trade prior to it reaching its profit target of 765.00 and call it a day. Tomorrow will be a better trading day because Europe will be open and that's important to help with my trading of the Eminis and EuroFX. 12:27 Covered 1/4 ER2 Short @ 766.00 --> + 3 12:31 <pat255> vn niha ... <NihabaAshi> I'm still holding because the price action in Oil suddenly became bearish. 12:32 Oil now putting up a good fight to keep its gains. 12:34 <pat255> niha u think oil still corelated to er? 12:41 <NihabaAshi> What do you mean by correlated? 12:47 Most talk about correlation via price movement. I talk about correlation via volatility via comparing WRB's which represents volatility. 12:48 Thus, based upon volatility...they are correlated only when the following situations: 12:49 Tues, Weds and Thurs and when all major markets are open. Today Europe is closed :( Usually tought trading trading when one or the other (Europe or U.S.) is closed. 12:50 Volatility is almost like holiday trading. <pat255> yes ...shows in the action today <NihabaAshi> I've had some big losses on days's when the U.S. markets are open while Europe is closed... 12:51 EuroFX EC was obviously (hindsight) the better trading instrument to trade today. 12:53 However, I haven't been trading NQ for a few months and wanted to jump in its waters today to be prepare to do some big size in NQ or ES next week. Next week is a "market seasonal tendency" for NQ and ES and I don't want to enter the week cold (not use to trading them). 12:54 Covered Remainder ER2 Short @ 767.80 --> + 1.2 12:55 WRB in Oil and ER2 at the same time...my day is done. <pat255> vn ...niha 12:56 <NihabaAshi> Profits in ER2 helps counter the poor performance today in NQ :) Tomorrow will be a new day :) 12:57 <pat255> wish i had followed your advice on fri ...lost..dang & not traded... <NihabaAshi> May the 4th Thurs should be a very good trading day via the volatility that's going to be produced by the ECB Announcement. 12:59 Hopefully I can catch at least one trade with some size. 13:00 <eminitrader> Shorts ES @ 1318.25 13:01 <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, IWM, QQQQ, SPY) 13:08 <togglex> short ym 11437 13:09 close short ym 11443 -6 13:23 <eminitrader> Shorts ES @ 1319.25 -> Add 13:53 <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, IWM, QQQQ, SPY) 14:17 <eminitrader> Covered 1/2 ES Short @ 1317.25 --> + 2 15:18 Covered Remainder ES Short @ 1314.25 --> + 4 15:20 <codehead> nice 15:28 <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, IWM, QQQQ, SPY) 15:29 <eminitrader> thx cd <NihabaAshi> #FuturesTrades Purpose -> No gurus here, no signal calling by a head trader and no intentions to educate. This room is being used as a realtime trade journal of trades (real money or simulator) and discussions. Do not mimic (shadow) the trades by others without their consent nor without private realtime consultation during such trades as stated at http://www.thestrategylab.com/FuturesTradesChatRoom.htm 16:17 Take care all and I expect a few more room participants tomorrow with Europe markets open again after today's holiday for them. 16:18 See all tomorrow. <substanz> bye niha * NihabaAshi is now known as NihabaAshi_away * DisconnectedSession Close: Mon May 01 16:30:32 2006 16:30 Sponsors: QCharts #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, IWM, QQQQ, SPY) Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary that on a few occasions will contain trading tips that should help your trading as I attempt to sum up my thoughts as I traversed from the first trade to the last trade that was posted above in #FuturesTrades realtime trade posting chat room.
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ER2 NQ +5.40 (- 4.50) $540.00 ($90.00) Europe May Day Holiday
Trading the U.S. Emini futures while Europe is on a holiday will produce difficult trading for those that are dependent upon volatility to produce pattern signals.
I'm one of those types of traders that are dependent upon volatility and such also implies I'm dependent upon Eurex and Euronext futures to be open so that I can have an easier route to profit targets.
Therefore, this is one of those holidays that should be included in your trade journal and put in your computer scheduler to alert you next year so that you'll know its a day to either reduce your position size or not be as aggressive for to manage the increased risk exposrue.
Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of May...click here. To see results for the months of 2006 and prior years...click here.
Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.comNote: Each month there are a few trading days that we consider to involve key price action interconnecting different markets and you can view the charts along with their stories at our key chart story archives.
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