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#FuturesTrades May 7th Monday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+7.10	+48.60	+1179.80
$710	$4,860	$117,980

Current Performance Record

Candlestick Pivot Point Trading Triggers

Trader Workstation and Profit/Loss Statement

Today's WRB Analysis: The only decent price action with good volatility for my trading style occurred within the first 45mins of trading.

However, after 1015am est, the market volatility contracted as it has been since the prior Thursday to prepare for the FOMC Announcement (May 9th Weds).

Yet, this is normal price action as FOMC comes closer and too many traders forget such a fact...they become frustrated, stressed and overtrade on trading day's like today.

Simply, the afternoon was another trading session to do some personal stuff if you had any to do that you've been putting on hold.

General Strategy Info: Currently, I'm exclusively trading the Russell 2000 Emini ER2 futures even though my strategies are applicable and profitable on all the trading instruments listed towards the bottom of this webpage along with my past trade journals showing consistent profits in other trading instruments prior to exclusively trading Emini Futures ER2.

In addition, I use a rule based (no subjectivity) methodology via my best strategies involving WRB Analysis. However, there are other key variables integrated with WRB Analysis that involves simple concepts of intermarket analysis, market seasonal tendencies, volatility analysis, support/resistance zones and position size management along with custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

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. Also, I use the user name NihabaAshi in the below trade posting chat log.

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.

Session Start: Mon May 07 09:25:42 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:25

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

<NihabaAshi> I have a slight Bearish Bias based upon Friday's price action. 09:28

However, the GAP down may put me at Neutral within the first 3mins of the open. 09:29

Meant within the first 3mins "after" the open.

<pat255> yes niha gap up would have been good to S.. 09:31

@office today...:(

<NihabaAshi> Long ER2 @ 836.80 -> medium size 09:32

<Brutus> Shorts ER2 @ 837 «« paper »» 09:34

<PapaJon> gm all

<NihabaAshi> Exited 1/2 ER2 Long @ 837.80 --> + 1 09:35

<Brutus> Shorts ER2 @ 837.9 -> Add «« paper »»

<NihabaAshi> Exited ER2 Long @ 838.20 --> + 1.4 09:37

Holding 2 contracts

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 with a money back guaranteed policy...click here.

Trading Strategies -> These strategies, from entry to exit, will exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments via WRB Analysis: Emini Index Futures (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), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<eminitrader> Shorts ES @ 1515.25

<NihabaAshi> Exited Remainder ER2 Long @ 837.20 --> + 0.4 09:38

<eminitrader> Covered all ES Short @ 1516.25 --> - 1 09:41

<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, GLD, IWM, OIH, QQQQ, SPY) 09:46

<eminitrader> Shorts ES @ 1515.50 09:47

hope it gets fixed soon

sorry ...was in a chat 09:48

having pbs with trade station...looks like delayed data

<Brutus> Covered 1/4 ER2 Short @ 836.4 --> + 1.5 «« paper »» 09:56

late

Covered all ER2 Short @ 837.3 --> - 0.3 «« paper »» 09:58

<eminitrader> Covered 1/3 ES Short @ 1514.50 --> + 1 10:03

hope this pa is not a precursor to summertime action 10:08

Covered 1/3 ES Short @ 1513.50 --> + 2 10:16

<pat255> wtg em..

<eminitrader> thx pat .. 10:17

Covered Remainder ES Short @ 1515.50 --> 0 10:23

<jperl> ER2 VWAP 836.60 10:26

peak volume 836.70 10:27

<Brutus> Wed FOMC meeting; interest rate decision 10:29

at 14:15

<eminitrader> Long ES @ 1514.50 10:31

Exited all ES Long @ 1514 --> - 0.5 10:33

Long ES @ 1513.25 10:34

Exited 1/2 ES Long @ 1514.25 --> + 1 10:38

<pat255> later guys ..ty all @office 10:40

<eminitrader> later pat

<jperl> I've had enough chopping around for the morning..... 10:49

this mornings trades here...

<werner> wiz?

<jperl> http://charts.dacharts.com/2007-05-07/JP ERL_0111.png

<wizardofrijnsaterwou> y 10:53

<werner> see p2p 10:54

<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, GLD, IWM, OIH, QQQQ, SPY) 10:58

<RussellDaytrade> Jp, what charting software you use?

<jperl> ensign 10:59

<RussellDaytrade> ok, thx.

<Brutus> Shorts ES @ 1514.75 «« paper »» 11:01

Covered ES Short @ 1515 --> - 0.25 «« paper »» 11:04

<eminitrader> Exited Remainder ES Long @ 1515 --> + 1.75 11:05

<jperl> here is todays ER2 2 min chart with the VWAP STdev points drawn in... 11:07

http://charts.dacharts.com/2007-05-07/JP ERL_0112.png

* codehead_afk is now known as codehead

<jperl> yellow lines are previous day, week, month STdevs

red line is peak volume today

<RussellDaytrade> well, I like the way the upper SD lines are pointing down, and will assume that it may take relatively minor, (perhaps as little as a couple three bucks) price declines to get the lower lines also pointing down. 11:10

<jperl> well if you are looking for a short..... 11:11

you have 3 stddev points to get through 11:12

<RussellDaytrade> you refering to the lower lines...the red vwap SD's? 11:13

<jperl> yesterdays 834.58, 1 month 834.18 and 1 week 833.86

<RussellDaytrade> may as well just hunker down and try not to get too excited. :) 11:15

<jperl> I would consider a long if price touches 834.58 again....

or if it breaks out of 837.02 again 11:16

<RussellDaytrade> looks like it'll do 837 first 11:17

<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, GLD, IWM, OIH, QQQQ, SPY) 12:10

<karsat> hi everyone 13:06

<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, GLD, IWM, OIH, QQQQ, SPY) 13:22

<eminitrader> Shorts ES @ 1514.50 14:06

<Brutus> you waiting for some CNBC negative news EMT? :) 14:15

<eminitrader> nah...see some res here 14:17

<RussellDaytrade> dow and sp seem 'sticky', ie resistant to price drops 14:19

<Brutus> 1500/1900 Mar Consumer Credit +$3B 14:27

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<eminitrader> Covered all ES Short @ 1515 --> - 0.5 14:46

<Brutus> sell limit to enter short ES @ 1515.5 «« paper »» 14:55

Greenspan comments 14:57

all.com: March Consumer Credit released on 5/7 at 3:00 PM; consensus $4.0B :theflyonthewall 14:58

US Consumer Credit Increased $13.5 Billion In March 15:02

<NihabaAshi> Shorts ER2 @ 833.70 -> small size 15:07

High risk trade for me via shorting the Dark WRB but there should be enough momentum for a few ticks. 15:09

Covered all ER2 Short @ 833.60 --> + 0.1 15:10

:(

<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, GLD, IWM, OIH, QQQQ, SPY) 15:46

* sep344 is now known as sep34 16:02

<NihabaAshi> It wasn't much of a trading day for me...I was mainly interested in the first 30mins of trading. 16:04

Take care all and see all tomorrow. 16:05

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Mon May 07 16:19:14 2007 16:19

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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 ES, NQ and ER2

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

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.