#FuturesTrades May 12th Monday 2008 Trade Log

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.
	Session Start: Mon May 12 09:24:47 2008 Session Ident: #FuturesTrades [09:24] * Now talking in #FuturesTrades [09:24] <@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm [09:27] <anglo> gm [09:27] <PapaJon> gm all [09:27] <futurible> gm all [09:27] <rickf> gm [09:27] <@NihabaAshi> Good morning all [09:27] <drt> gm everyone [09:27] <T-stop> gm [09:28] <Brutus-L1> http://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={eb723cce-f397-41a8-8449-0ba4ff968c41} [09:29] <+Brutus-L1> http://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={787c9209-44df-4780-9699-1c92f0219259} [09:39] <szubaark> 0,3 Buys ES @ 1392.75 4,0 «« paper »» [09:40] <+rickf> short es 1392.25 paper [09:42] <@NihabaAshi> 0,4 Shorts ER2 @ 721.70 -> medium size [09:45] <+szubaark> 0,2 Exited all Long ES at 1390.50 --> - 2.25 4,0 «« paper »» [09:45] <+szubaark> 0,4 Shorts ES @ 1390.50 4,0 «« paper »» [09:45] <+rickf> exit es 1390.25 paper +2 [09:46] <dragon310> short #S @ 1390.50 [09:46] <+PapaJon> hmmf... looking like a "wash, rinse, tumble dry" day [09:47] <@NihabaAshi> 0,2 Covered ER2 Short @ 721.50 --> + 0.2 [09:47] <@NihabaAshi> :( [09:47] <+PapaJon> course we could get a quick spin here soon... hehe [09:47] <+rickf> lol [09:51] <+dragon310> covered es short at 1390.25 > +.25 [09:52] <@NihabaAshi> 0,4 Shorts ER2 @ 720.10 -> small size [09:52] <@NihabaAshi> intuition only [09:53] <@NihabaAshi> I'm selling the lows :) [09:56] <@NihabaAshi> geeesj :( [09:57] <+PapaJon> er2 has a magnet at around 717.4... if it will ever get going [09:57] <+PapaJon> needs a little momo to get there tho [09:58] <+PapaJon> very little conviction in these moves [09:59] <+szubaark> Volatility going Flat [10:01] <+PapaJon> yeah.. volume is very lite [10:02] <@NihabaAshi> 0,2 Covered ER2 Short @ 720.60 --> - 0.5 [10:02] <@NihabaAshi> 0,3 Reverse and Enter Long ER2 @ 720.60 [10:05] <+szubaark> 0,2 Covered all Short ES at 1389 --> + 1.5 4,0 «« paper »» [10:05] <+szubaark> :( too early [10:06] <@NihabaAshi> 0,2 Exited ER2 Long @ 720.00 --> - 0.6 [10:07] <+szubaark> 0,3 Buys ES @ 1388 4,0 «« paper »» [10:09] <@NihabaAshi> 0,4 Shorts ER2 @ 719.50 -> medium size [10:14] <@NihabaAshi> Geeeesh...flatlined volatility [10:15] <@NihabaAshi> If this keeps up a little longer...I may just go back to bed or go outside and do some gardening work :) [10:15] <pat255> very slow ...europe holiday .. [10:15] <+rickf> i'll go build my ark -- like 2" more rain expected today [10:15] <+szubaark> lol [10:16] <@NihabaAshi> Ahhh...I didn't know Europe was on a holiday nor is it on my International Calendar :( [10:16] <Pepe> only Swiss Holiday [10:16] <ItalianSharp> europe is not on holiday [10:16] <+ItalianSharp> just the swiss [10:16] <+Pepe> Swiss bank [10:16] <+pat255> k.. [10:18] <+PapaJon> wow... where you located rickf? [10:18] <+rickf> dc [10:18] <+PapaJon> we spose to have record highs at the end of the week here in ca [10:19] <+PapaJon> i hate the heat [10:19] <+rickf> :( [10:19] <lumenPharmer> papaj where are u in ca [10:20] <+lumenPharmer> Ventura county here [10:21] <+PapaJon> between Sacramento & Lake Tahoe... in the foothills [10:21] <+PapaJon> El Dorado County [10:21] <+lumenPharmer> ooo sac gets hot ;) [10:21] <+PapaJon> yah.. i hate it .. mainly cuz i have to work in it [10:22] <+lumenPharmer> yep but fun to play in it :) [10:22] <@NihabaAshi> 0,2 Covered ER2 Short @ 720.90 --> - 1.4 [10:23] <+PapaJon> well.. only if you are playing in the water [10:23] <+rickf> long es 1388.50 paper sm sz [10:23] <@NihabaAshi> 0,3 Long ER2 @ 721.60 -> medium size [10:25] <+szubaark> Volatility spike [10:28] <@NihabaAshi> I had problems before in that 722.00 price area [10:32] <+rickf> exit es 1389.25 +.75 paper [10:34] <+dragon310> long er2 721.60 [10:35] <+szubaark> 0,2 Exited all Long ES at 1390 --> + 2 4,0 «« paper »» [10:35] <+rickf> :( [10:36] <+rickf> intended target would've been hit [10:36] <+lumenPharmer> 14 out of the last 17 trading days, 720 was traded, what a mess [10:36] <startrader> 0,4 Shorts ES @ 1391.25 [10:36] <+dragon310> half off er2 at 723.00 [10:38] <@NihabaAshi> 0,2 Exited ER2 Long @ 724.00 --> + 2.4 [10:40] <+dragon310> exit all er2 at 724.9 [10:40] <@NihabaAshi> 0,3 Long ER2 @ 725.90 -> medium size [10:43] <+Pepe> any news: [10:43] <+Pepe> any news? [10:46] <@NihabaAshi> 0,2 Exited all ER2 Long @ 727.30 --> + 1.4 [10:46] <+pat255> vn N ..dang to take L there .. [10:46] <@NihabaAshi> Yeah...3 last trades were tough to take. [10:47] <@NihabaAshi> First one a loser (short) of the 3 and the following two (longs) were just as tough to hold [10:47] <+szubaark> 0,4 Shorts ES @ 1395 4,0 «« paper »» [11:04] <@NihabaAshi> 0,3 Long ER2 @ 726.90 -> small size [11:04] <@NihabaAshi> 2 only [11:05] <@NihabaAshi> Will began reducing my overall position because I'm near my profit goal for the trading day. [11:07] <@NihabaAshi> Haven't had control lately with my patience on trades when I was near my profit goal for the trading day :( [11:08] <@NihabaAshi> Problem with some FEAR [11:13] <+szubaark> did u increase size? [11:16] <@NihabaAshi> No...my overall size has been decreasing even though I wanted it to increase. [11:16] <@NihabaAshi> Just haven't like the price action the last few months. [11:19] <@NihabaAshi> 0,2 Exited ER2 Long @ 725.20 --> - 1.7 [11:19] <@NihabaAshi> 0,4 Reverse and Enter Short ER2 @ 725.20 [11:19] <@NihabaAshi> back to medium size on the reversal [11:23] <@X> 1,4 #FuturesTrades Info -> 8,2 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/FuturesTradesChatRoom.htm [11:25] <+szubaark> so far no pullback, just sitting here at High of day :( [11:27] <+rickf> *yawn* [11:35] <@NihabaAshi> 0,2 Covered ER2 Short @ 72580 --> - 71854.8 [11:36] <@NihabaAshi> ooops [11:36] <@NihabaAshi> 0,2 Covered ER2 Short @ 725.80 --> - 0.6 [11:39] <@NihabaAshi> 0,3 Long ER2 @ 726.20 -> medium size [11:40] * codehead_afk is now known as codehead [11:41] <+szubaark> sneaky Price Action [11:43] <@NihabaAshi> 0,2 Exited ER2 Long @ 727.80 --> + 1.6 [11:44] <@NihabaAshi> Yeah...I was in the middle of talking to myself while repeating...patience, patience, patience :) [11:45] <+lumenPharmer> heheee [11:45] <@NihabaAshi> Had to talk to myself to stay with all the Longs today eventhough I have a neutral bias. [11:46] <+rickf> short es 1396.75 paper sm sz [11:48] <@NihabaAshi> 0,3 Long ER2 @ 724.50 -> medium size [11:49] <@NihabaAshi> Buying the intraday highs...still trying to get better at it. [11:49] <+lumenPharmer> nice fill ;P [11:49] <+rickf> exit es 1397.75 -1 paper [11:50] <@NihabaAshi> Should'uv had 724.20 a few ticks below [11:50] <+szubaark> slowly moving higher, tick by tick [11:50] <@NihabaAshi> That's been working well lately via buying a few ticks below the intraday high instead of waiting for the high to be reached [11:51] <@NihabaAshi> Script will make a correction on the exit by itself. [11:54] <@NihabaAshi> 0,2 Exited 1/2 ER2 Long @ 730.60 -> + 2.1 [11:55] <+lumenPharmer> 732 is where the last run burnt out, let see what she does [11:55] <+lumenPharmer> nice niha [11:55] <+dragon310> short er2 @ 730.20 [11:56] <@NihabaAshi> I saw the volatility pick up around 727.80 [11:56] <@NihabaAshi> Wanted a short around 728.20 but could only graB 728.50 [12:07] <@NihabaAshi> This is that problematic price action when buying intraday highs...a "contracting volatility" price action when the intraday high occurs. [12:08] <@NihabaAshi> You just don't know which way the soon to be volatility spike will take price [12:08] <+szubaark> this is just Price Creeping higher, tick by tick [12:14] <MK> 0,3 Long ER2 @ 730.8 4,0 «« paper »» Session Close: Mon May 12 12:15:21 2008 Session Start: Mon May 12 12:15:21 2008 Session Ident: #FuturesTrades [12:15] * Disconnected Session Close: Mon May 12 12:16:46 2008 Session Start: Mon May 12 12:18:45 2008 Session Ident: #futurestrades [12:18] * Now talking in #futurestrades [12:18] <@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm [12:23] <+rickf> exit es 1397.50 +1 paper [12:23] <+szubaark> nice entries rick [12:24] <+rickf> thx szu [12:24] <+rickf> really trying to work on price-volume only today [12:25] <+szubaark> i keep missing my Exit Targets by 1 tick today :( [12:25] <+rickf> thought wed have a bigger drop, but given the pa so far today i'll take a point here or there [12:25] <@NihabaAshi_away> 0,2 Exited ER2 Long @ 729.50 -> + 1.5 [12:25] <+dragon310> cover half er2 at 729.4 --> +.7 [12:26] <+rickf> on days like this i'd rather be 'out with a small profit' than overly patient [12:26] <@NihabaAshi_away> That's 730.00 on 1 contract and 729.50 on another contract [12:26] * NihabaAshi_away is now known as NihabaAshi [12:28] <+dragon310> im all out [12:28] <+dragon310> trend day up for er? [12:28] <+szubaark> still no pullback , they probobly wont let this go any higher [12:29] <+rickf> yep keep bouncing off the 1399.50 high [12:30] <+szubaark> must be some Fib # [12:39] <+rickf> short es 1397.50 paper [12:47] <+MK> 0,2 Covered ER2 Short @ 729.8 --> + 0.4 4,0 «« paper »» [12:47] <+MK> 0,3 Reverse and Enter Long ER2 @ 729.8 4,0 «« paper »» [12:54] <Kn-Es> lng er 730.20 [12:54] <+Kn-Es> sl 1 [12:56] <+Kn-Es> out 1/2 ER2 ...... 730.90 ..... + 0.7 [12:56] <+Kn-Es> S.L .7 [12:57] <+Kn-Es> out 1/4 ER2 ...... 730.70 ..... + 0.5 [12:58] <+szubaark> we at 50% retrace from 5/7 to today lows, lets see if they drop the hammer here [12:58] <+Kn-Es> s.l .5 [13:00] <+Kn-Es> lng er2 729.5 [13:00] <+Kn-Es> s.l 1 [13:05] * +Kn-Es slaps dragon310 around a bit with a large trout [13:05] <+Kn-Es> nop [13:05] <+Kn-Es> mistype [13:05] <+rickf> lol [13:05] <+Kn-Es> trying to practice the script [13:05] <+Kn-Es> its getting me no where [13:06] <+Kn-Es> where is er2 in the script! [13:07] <+MK> 0,3 Long ER2 @ 728.7 -> Add 4,0 «« paper »» [13:19] <+rickf> exit es 1397 +.50 paper [13:26] <@X> 1,4 #FuturesTrades Info -> 8,2 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/FuturesTradesChatRoom.htm [13:31] <+rickf> short es 1396.50 paper sm sz [13:33] <+MK> 0,3 Long ER2 @ 726.7 -> Add 4,0 «« paper »» [14:19] <+MK> 0,2 Exited all ER2 Long @ 729.8 --> + 3.1 4,0 «« paper »» [14:26] <@NihabaAshi> 0,3 Long ER2 @ 730.70 -> small size [14:30] <@NihabaAshi> 0,2 Exited ER2 Long @ 732.00 --> + 1.3 [14:32] <+szubaark> 0,2 Covered all Short ES at 1402 --> - 7 4,0 «« paper »» [14:32] <+szubaark> 0,3 Buys ES @ 1402 4,0 «« paper »» [14:32] <@NihabaAshi> volatility declining and this is where I usually get into trouble when I buy intraday highs on contracting volatility [14:39] <+MK> 0,4 Shorts ER2 @ 732.2 4,0 «« paper »» [14:39] <+szubaark> 0,2 Exited all Long ES at 1402.25 --> + 0.25 4,0 «« paper »» [14:40] <+szubaark> 0,4 Shorts ES @ 1402.25 4,0 «« paper »» [14:45] <+MK> 0,2 Covered ER2 Short @ 732.4 --> - 0.2 4,0 «« paper »» [14:45] <+MK> 0,3 Reverse and Enter Long ER2 @ 732.4 4,0 «« paper »» [14:45] <@NihabaAshi> 0,3 Long ER2 @ 732.40 -> small size [14:50] <+MK> here it comes i think [14:50] <+szubaark> 0,2 Covered all Short ES at 1404.25 --> - 2 4,0 «« paper »» [14:50] <+szubaark> done.. took too many big losses today [14:50] * szubaark is now known as szubaark_away [14:50] <@NihabaAshi> 0,2 Exited ER2 Long @ 733.70 --> + 1.3 [14:52] <+MK> 0,2 Exited all ER2 Long @ 734 --> + 1.6 4,0 «« paper »» [15:04] <pdays> 0,4 Shorts ER2 @ 733.4 [15:06] <+rickf> should have stayed in bed today :( [15:21] <+pdays> 0,2 Covered all ER2 Short @ 732.4 --> + 1 [15:29] <@X> 1,4 #FuturesTrades Info -> 8,2 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/FuturesTradesChatRoom.htm [15:51] <+MK> 0,3 Long ER2 @ 731.9 4,0 «« paper »» [15:55] <+MK> 0,3 Long ER2 @ 731.5 -> Add 4,0 «« paper »» [15:58] <+MK> 0,2 Exited all ER2 Long @ 732.7 --> + 2 4,0 «« paper »» [15:58] <+rickf> vn mk [15:58] <+MK> thx [16:00] <+MK> 0,3 Long ER2 @ 731.8 4,0 «« paper »» [16:01] <+Brutus-L1> http://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={a8099809-622b-44fc-b4ed-9668306b21d6} [16:03] <+MK> 0,2 Exited all ER2 Long @ 731.9 --> + 0.1 4,0 «« paper »» [17:32] <@X> 1,4 #FuturesTrades Info -> 8,2 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/FuturesTradesChatRoom.htm Session Close: Mon May 12 19:20:31 2008
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)
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Google:	#FuturesTrades past logs can be searched via using Google. For example, pretend you want to research what has been said about volatility analysis. Go to the Google search window below and type in "volatility analysis" site:thestrategylab.com (exactly as I typed it including the quotation marks) and you will find everything associated with those key words that were used by any member of  #FuturesTrades.

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.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

 questions@thestrategylab.com

"The point of this whole exercise is to make money. Everything else is just conversation." --Jonathan Hoenig

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