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#FuturesTrades May 2nd Friday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+10.40	+27.30	+1469.00
$1,040	$2,730	$146,900

Profitable Trade

0951am - 1003am est

Losing Trade

1057am - 1106am 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 - martial arts and Japanese Candlestick term) only and all trades were posted in real-time within 5 seconds after entry or exit as shown in the below chat log.

Also, I'm the moderator of #FuturesTrades and I use the below chat log as feedback to critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading.

Further, although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based methodology (very objective) that involves price action only trading (no indicators).

There is some subjectivity involved with some of my trades when I'm developing a new entry signal or new trade management (hence the name TheStrategyLab.com).

In addition, my intermarket analysis allows me to switch and profitably trade any other trading instrument whenever I want if/when I don't want to trade the Russell 2000 ER2 Emini Futures.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in real-time 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.

* DisconnectedSession Close: Fri May 02 04:59:28 2008 04:59

Session Start: Fri May 02 09:28:22 2008Session Ident: #futurestrades

* Now talking in #futurestrades 09:28

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

<ripsboy> gm all... 09:29

<drt> gm guys

<KN-ES> Covered 1/4 ES Short @ 1420.75 --> + 3 09:35

<+KN-ES> h6

<+Spartan> Long ES @ 1420.25 -> small size «« paper »» 09:38

Exited all ES Long @ 1419.75 --> - 0.5 «« paper »» 09:39

<+KN-ES> Covered 1/4 ES Short @ 1418.75 --> + 5

h4

<szubaark> Buys ES @ 1418.75 «« paper »»

<+Spartan> Long ES @ 1418.50 -> small size «« paper »» 09:43

Exited all ES Long @ 1418.50 --> 0 «« paper »» 09:45

Shorts ES @ 1418.50 -> small size «« paper »» 09:46

<+szubaark> Exited all Long ES at 1417.50 --> - 1.25 «« paper »» 09:47

Shorts ES @ 1417.50 «« paper »»

:( 09:50

<@NihabaAshi> Long ER2 @ 731.40 -> small size 09:51

<+Spartan> Covered all ES Short @ 1419.75 --> - 1.25 «« paper »» 09:52

<startrader> Shorts ES @ 1419 09:53

<+Spartan> Long ES @ 1419.75 -> small size «« paper »» 09:55

<+startrader> Shorts ES @ 1420.25 -> Add 09:57

<@NihabaAshi> Exited 2/3 ER2 Long @ 732.40 --> + 1 09:58

tight trail

10am est Factory Orders Report around the corner 09:59

<+Spartan> Exited all ES Long @ 1421.50 --> + 1.75 «« paper »» 10:00

<@NihabaAshi> exit stop raised ER2 @ 733.00

exit stop raised ER2 @ 734.00 10:03

<+Spartan> 2000 nq

<@NihabaAshi> Exited Remainder ER2 Long @ 735.00 --> + 3.6

<+Spartan> Shorts ES @ 1421.50 -> small size «« paper »» 10:06

Covered all ES Short @ 1422.50 --> - 1 «« paper »» 10:07

Long ES @ 1422 -> small size «« paper »» 10:13

Exited all ES Long @ 1420.75 --> - 1.25 «« paper »» 10:16

Long ES @ 1420.50 -> small size «« paper »» 10:20

Exited all ES Long @ 1418.50 --> - 2 «« paper »» 10:22

<+KN-ES> Covered 1/4 ES Short @ 1416.75 --> + 7 10:24

h3

<+szubaark> very nice KN 10:25

<+KN-ES> thanks szubaark

<+Spartan> Long ES @ 1415.25 -> small size «« paper »» 10:44

Exited all ES Long @ 1415.25 --> 0 «« paper »» 10:45

<@NihabaAshi> Long ER2 @ 731.10 -> small size 10:51

Exited ER2 Long @ 730.30 --> - 0.8 10:53

<+KN-ES> Covered 1/4 ES Short @ 1414.75 --> + 9

h2

<@NihabaAshi> Long ER2 @ 731.10 -> medium size

Exited ER2 Long @ 730.40 --> - 0.7 10:57

Shorts ER2 @ 730.00 -> large size

<+KN-ES> Covered 1/4 ES Short @ 1413.75 --> + 10 10:59

h1

sl 1419.75 ( + 4.00 ) 11:00

tp 1392.25 ( + 31.50) 11:01

<@NihabaAshi> That's one tough support area to trade around of 730.00

<MK> Long ER2 @ 729.9 «« paper »» 11:03

<@NihabaAshi> Covered all ER2 Short @ 731.40 --> - 1.4 11:06

Long ER2 @ 731.60 -> large size 11:07

<+startrader> Shorts ES @ 1417

<@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 11:08

<rickf> back 11:09

<+Spartan> Long YM @ 13055 -> medium size «« paper »» 11:10

* codehead_afk is now known as codehead 11:11

<+Spartan> Exited all YM Long @ 13063 --> + 8 «« paper »» 11:12

<+MK> Exited all ER2 Long @ 732.2 --> + 2.3 «« paper »»

<@NihabaAshi> Exited all ER2 Long @ 731.90 --> + 0.3 11:13

Trading Edge:
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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)

<+Spartan> Long YM @ 13062 -> medium size «« paper »» 11:16

<@NihabaAshi> Long ER2 @ 731.70 -> large size

If this becomes a little more jumpy... 11:17

It'll be a Pin Ball Machine Price Action

<+Spartan> Exited 1/2 YM Long @ 13072 --> + 10 «« paper »»

<+MK> Long ER2 @ 732.5 «« paper »»

<+KN-ES> Covered Remainder ES Short @ 1419.75 --> + 4 11:18

<@NihabaAshi> Pin Ball Machine

<+Spartan> Exited Remainder YM Long @ 13062 --> 0 «« paper »»

<@NihabaAshi> Exited all ER2 Long @ 731.50 --> - 0.2 11:20

<+KN-ES> Shorts ES @ 1417.50

<@NihabaAshi> Shorts ER2 @ 731.30 -> large size

<+Spartan> Shorts YM @ 13051 -> medium size «« paper »»

<+MK> Long ER2 @ 731 -> Add «« paper »»

<+KN-ES> sl 1419.75 11:21

<@NihabaAshi> Lets see if the 730.00 price level is calling again 11:22

<+KN-ES> Covered 3/4 ES Short @ 1416 --> + 1.5

h8

<@NihabaAshi> Hammers trying to form :(

<+KN-ES> Covered 1/4 ES Short @ 1416.50 --> + 1

h6 11:23

<@NihabaAshi> correction...it's not 730.00...it's 730.40 as the key price level :( 11:26

<+Spartan> Covered all YM Short @ 13056 --> - 5 «« paper »»

<@NihabaAshi> :( 11:29

bad timing for distractions 11:30

<+Spartan> Shorts YM @ 13051 -> medium size «« paper »» 11:35

<+rickf> short es 1415.75 paper 11:37

<+Spartan> Covered 1/2 YM Short @ 13041 --> + 10 «« paper »»

<+MK> Long ER2 @ 729.8 «« paper »» 11:38

add 11:39

<@NihabaAshi> Covered ER2 Short @ 729.60 --> + 1.7 11:40

That was a very stressful trade for me...

<pat255> vn N ..yes

<+pat255> @offce scared to S

<@NihabaAshi> Got some family distractions going on here....

Be back later.

* NihabaAshi is now known as NihabaAshi_away 11:41

<+rickf> exit es 1415.75 +0 paper 11:42

<+Spartan> Covered all YM Short @ 13046 --> + 5 «« paper »»

Long YM @ 13053 -> medium size «« paper »» 11:45

<+KN-ES> Covered 1/4 ES Short @ 1413.50 --> + 4 12:03

h4

Covered 1/3 ES Short @ 1312.50 --> + 105 12:05

nop

Covered 1/3 ES Short @ 1412.50 --> + 5

out 1

h3

<pat255> vn kn 12:06

<+startrader> Covered 1/2 ES Short @ 1412 --> + 8.25

<+KN-ES> thanks pat255

cool 12:07

<+MK> Long ER2 @ 728.1 -> Add «« paper »» 12:08

<+Spartan> Long YM @ 13023 -> small size «« paper »» 12:11

Exited 1/2 YM Long @ 13030 --> + 7 «« paper »» 12:14

Exited Remainder YM Long @ 13023 --> 0 «« paper »» 12:19

Shorts YM @ 13025 -> small size «« paper »» 12:22

* szubaark_away is now known as szubaark

<szubaark> nice star

<+Spartan> Covered 1/2 YM Short @ 13018 --> + 7 «« paper »» 12:28

Covered all YM Short @ 13025 --> 0 «« paper »» 12:29

* Spartan is now known as Spartan_Away 12:30

<+szubaark> Covered all Short ES at 1413.25 --> + 4.25 «« paper »»

Buys ES @ 1413.25 «« paper »»

<+startrader> Covered Remainder ES Short @ 1412.50 --> + 4.5 12:32

<+pat255> vn star ...missed the S...:( 12:33

<+rickf> sweet

short es 1412 paper 12:36

<+startrader> Long ES @ 1412 12:40

Exited all ES Long @ 1411 --> - 1 12:45

<+KN-ES> need to break 10.25 to confirm downtrend

.

not this time i guess 12:48

Covered 1/3 ES Short @ 1410.50 --> + 7 12:50

h2

heading to 12.50....... 12:51

* NihabaAshi_away is now known as NihabaAshi 13:00

<+szubaark> Exited all Long ES at 1410.75 --> - 2.5 «« paper »» 13:01

Shorts ES @ 1410.75 «« paper »»

<+KN-ES> that 10.25 ...........still holding 13:02

<+szubaark> shitty entries today.. last trade gonna call it a week

<+KN-ES> :) 13:03

it it breaks 10.25 we are heading to 1392.25

most likely

<+szubaark> why 1392?

<+KN-ES> thats what i think gonna happen

<+rickf> exit 1/2 es 1410 +2 paper

finally :(

<+KN-ES> finally :) 13:04

<+rickf> hld 4

<+pat255> vn KN ...

<+szubaark> finally :)

<+KN-ES> thanks pat255

<+rickf> kept flittering with that 10.25-10.50, teasing me

<+startrader> Long ES @ 1408.50

<+KN-ES> Covered 1/3 ES Short @ 1408.50 --> + 9 13:05

holding the last one 13:06

<+rickf> exit 1/2 es 1408 +4 paper

hld 2

<+KN-ES> nice job rickf

<+rickf> thx kn

<+KN-ES> looking for 1401.75 ........ pice will hold there i think till the last hour of trading 13:07

price 13:08

<+startrader> Long ES @ 1407.50

<@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 13:14

<+rickf> tempted to add to my es short here, not going to 13:16

<+KN-ES> heading to 10.50 again..........i guess 13:20

you will have lots of time and opportunity if you want to add to your es short

<pdays> Long ES @ 1407

<+rickf> true 13:21

<+pdays> exit stop moved to breakeven ES @ 1407 13:23

<+szubaark> missed my Exit by 1 tick at the lows, now go to sit thru this pullback :((

<+KN-ES> :0

<+rickf> exit es remainder 1410 paper +2

<+KN-ES> it most likely will get a bounce from here

<+rickf> conference call starting :(

<+szubaark> soon as hit 1407 it frikin Popped 2 points in millisecond 13:24

<+KN-ES> will have to break 12.75 to get the trend changed 13:25

<+szubaark> 1407 FOMC High :(

<+KN-ES> so till then shorts are safe

<+startrader> Exited 1/2 ES Long @ 1410 --> + 2.5 13:26

<+KN-ES> nice trade

<+szubaark> nice star, u had that as Fibzz?

<+KN-ES> sl 14.50 ( + 3.00 ) tp 1402.50 ( + 15.00 ) 13:27

<+pdays> Exited all ES Long @ 1410.0 --> + 3 13:28

<+startrader> fib, 60 min ivb from 1:30 est yest.

<+KN-ES> nice job pdays

have to go............ 13:29

<+rickf> vn

<+KN-ES> sl 14.50 ( + 3.00 ) tp 1402.50 ( + 15.00 )

take care all, see you all on monday........good trading

<+rickf> cya

<+startrader> Exited Remainder ES Long @ 1410.25 --> + 2.75 13:32

wanted to see if 12.25 was tested but gotta go.

<+rickf> short es 1407 paper 14:09

<+szubaark> late post 14:18

Covered all Short ES at 1406.75 --> + 4 «« paper »»

<+rickf> nice szu

<+szubaark> thanks, gonna call it a week, bad entries all day, BUT got the trend right 14:19

<@NihabaAshi> Long ER2 @ 724.90 -> medium size

<+szubaark> also, im taking next week off(vacation), good trades all. 14:20

<+rickf> :)

have fun szu

* szubaark is now known as szubaark_away 14:21

<@NihabaAshi> Exited 3/4 ER2 Long @ 726.30 --> + 1.4 14:22

Exited Remainder ER2 Long @ 726.00 --> + 1.1 14:28

Long ER2 @ 725.60 -> small size 14:32

1 only

Exited ER2 Long @ 726.00 --> + 0.4 14:34

<+rickf> exit es 1411 -4 paper 14:37

<@NihabaAshi> Shorts ER2 @ 726.10 -> small size 14:41

1 only

Covered ER2 Short @ 725.00 --> + 1.1 14:42

I'm done for the day 14:43

Missed a lot of trading opportunities due to family distractions especially to big time short signal around 1010am est 14:44

Yet, still manage to reach my profit target dispite having 3 consecutive losing trades today. 14:45

Take care all and have a safe/good weekend.

<+rickf> cya niha

* NihabaAshi is now known as NihabaAshi_away

WRB Analysis

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<+rickf> chop chop 14:49

k guys have a great weekend, see you monday 15:18

<+startrader> Long ES @ 1410.75 15:31

Exited 1/2 ES Long @ 1412.50 --> + 1.75 15:38

Exited Remainder ES Long @ 1414.75 --> + 4 15:59

<Brutus-L1> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={a766a fa1-377f-4372-a0a7-49ce73ed2e5d} 16:12

<@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.htmSession Close: Fri May 02 18:05:23 2008 17:26

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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.