May 2nd Tuesday 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: Tue May 02 09:17:43 2006Session Ident: #futurestrades * Now talking in #futurestrades 09:17 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm #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) 09:20 <PapaJon> gm all 09:23 <eminitrader> morn pj <PapaJon> gm et 09:24 * JavaGuest842 is now known as ice1962 09:28 <ice1962> gm all <NihabaAshi> Shorts NQ @ 1703.00 -> small size 09:37 That spike gave me a chance at a better entry because my pattern signal was at 1701.75 09:38 <eminitrader> Covered 1/3 ES Short @ 1313.75 --> + 1 09:40 <aym> Short ES @ 114. Risk 2, 09:41 <NihabaAshi> Covered 2/3 NQ Short @ 1700.00 --> + 3 09:42 That fixes yesterday's NQ trading problems. Covered NQ Short @ 1700.25 --> + 2.75 09:46 Reverse and Enter Long NQ @ 1700.25 <eminitrader> Covered Remainder ES Short @ 1314.75 --> 0 <NihabaAshi> I got the price direction correct but really don't want to be in NQ. 09:47 <mispe> Shorts YM @ 11402 <NihabaAshi> Exited NQ Long @ 1699.25 --> - 1 09:49 Reverse and Enter Short NQ @ 1699.25 <mispe> Covered 1/2 YM Short @ 11396 --> + 6 <NihabaAshi> I think the Eminis are going to counter-thrust back upwards here soon. 09:50 Thus, I'm slightly bullish. <mispe> Covered Remainder YM Short @ 11397 --> + 5 09:51 <NihabaAshi> Covered NQ Short @ 1697.75 --> + 1.5 09:52 Ok... As I said before...I'm bullish and looking for any bullish patterns to get Long. If nothing appears...I stay on the sidelines even if this goes upwards without me. 09:54 ER2 made its move early and without giving me any pattern signals to confirm what it was about to do :( 09:59 Long ER2 @ 765.50 -> small size 10:00 A very weak continuation signal. <WannaBeBOS> yes 10:01 <NihabaAshi> Exited ER2 Long @ 764.00 --> - 1.5 Reverse and Enter Short ER2 @ 764.00 Shorts ER2 @ 763.50 -> Add 10:02 Back to a neutral bias. 10:03 Position at 3 contracts...will not add again to it. <aym> Covered ES @ 1312.75 <NihabaAshi> Covered all ER2 Short @ 763.10 --> + 1.3 10:09 ES seems like the worst of the bunch to trade. 10:11 Long ER2 @ 764.70 -> small size 10:12 2 contracts only 10:13 <mispe> Long YM @ 11407 <NihabaAshi> Intuition trade...no pattern signal. <mispe> Exited all YM Long @ 11402 --> - 5 10:15 <NihabaAshi> Exited ER2 Long @ 763.00 --> - 1.7 Reverse and Enter Short ER2 @ 763.00 Shorts ER2 @ 762.30 -> Add 10:16 Position now a large size. <mispe> Shorts YM @ 11395 Covered 1/2 YM Short @ 11391 --> + 4 10:19 <NihabaAshi> ER2 volatility drying up... 10:21 Preparing for a WRB spike to either reverse my position or exit at a WRB profit target. <mispe> Covered Remainder YM Short @ 11392 --> + 3 <NihabaAshi> Covered ER2 Short @ 763.40 --> - 0.4 10:23 Reverse and Enter Long ER2 @ 763.40 :( 10:26 If this doesn't hit 764.50 soon.... Nevermind. Exited 2/3 ER2 Long @ 765.90 --> + 3.6 10:28 <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) 10:32 <NihabaAshi> After watching yesterday's late sell-off on Fed Chairman Bernanke comments... I don't think this is a good time to hope this trade turns into a "position trade" where I can keep it for most of the trading day. 10:33 Too much stuff going on... Weak dollar, rising Euro, Iran, Bernanke and interest rates and Oil. Wouldn't be surprise we see some range for the rest of the weak unless price gets a spark from one of the variables I mentioned. 10:34 That prior loss was actually a -0.4 on 2 contracts and a -1.10 on two contracts. 10:38 Exited ER2 Long @ 764.90 --> + 1.5 10:39 Reverse and Enter Short ER2 @ 764.90 <pdays> Shorts ER2 @ 765.1 10:41 <NihabaAshi> Covered 1/2 ER2 Short @ 763.60 --> + 1.3 10:44 Holding 1 contract. <pdays> Covered all ER2 Short @ 763.9 --> + 1.2 10:45 <NihabaAshi> Tighting up my stop. exit stop lowered ER2 @ 764.80 10:46 If I get lucky and can get 3 points out of this contract...I'll call it a day. 10:47 Trailing Stop Hit ER2 @ 764.80 --> + 0.1 10:49 :( 10:50 <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) 11:44 <NihabaAshi> Long NQ @ 1703.50 -> small size 12:38 1 contract only Horrible fill :( Exited NQ Long @ 1701.75 --> - 1.75 12:43 Reverse and Enter Short NQ @ 1701.75 <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) 12:53 <NihabaAshi> Covered NQ Short @ 1701.25 --> + 0.5 Volatility has just dried up...waiting for a WRB spike. 12:54 Shorts NQ @ 1702.00 -> small size 13:11 2 contracts only Need to be careful...this could be a forming creeper uptrend. <eminitrader> from another room .. US Confirms Capture In Pakistan Of Top Al-Qaida Strategist 13:15 (Dow Jones 05/02 13:09:09) <NihabaAshi> Ahh...so maybe that's the cause behind the price surge. 13:16 <eminitrader> Q is will this hold ??? 13:17 <NihabaAshi> Tightning up my stop. 13:18 Covered all NQ Short @ 1701.75 --> + 0.25 I'm done for the day... 13:19 Will set some price alerts just in case there's a strong parabolic price movement I may want to jump on its "continuation price action". Forgot to do that yesterday and missed the big late afternoon drop. 13:20 <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) 14:05 <togglex> short ym 11438 14:48 <codehead> YM 5 min inverted ghost on cci 15:12 might get a pop needs a little more time to print but it has green lsma in its favor 15:13 <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) 16:23 <NihabaAshi> Reminder -> Today's #FuturesTrades daily chat room trade logs and an occasional trading tip at the end of some trading days are posted @ http://www.thestrategylab.com/RecentTrades.htm (logs will be updated tonight by 9pm est to current) 16:27 Take care all and see all tomorrow. 16:39 * DisconnectedSession Close: Tue May 02 16:40:04 2006 16:40 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 +7.20 +8.50 $720.00 $170.00 Candlestick Charts versus Bar Charts
First of all, most traders using candlestick charts are not doing any Japanese Candlestick analysis. They prefer candlestick charts instead of bar charts because they can visually see changes in supply/demand much faster than bar charts.
This is very important and can be all the difference in getting good fills on positions instead of chasing the price action because in the business of trading...seconds do have an impact on our profit curve.
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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