#FuturesTrades May 14th Wednesday 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.

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	Session Start: Wed May 14 09:30:20 2008 Session Ident: #futurestrades [09:30] * Now talking in #futurestrades [09:30] <@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm [09:31] <pat255> gm all ..N [09:31] <szubaark> 0,4 Shorts ES @ 1410 4,0 «« paper »» [09:31] <+pat255> sick as a dog since yesterday ..so wil just watch :9 [09:31] <anglo> gm [09:31] <tzar> morning everyone [09:31] <+tzar> thanks NihabaAshi [09:32] <rickf> short es 1410 sm sz [09:38] <+rickf> exit es 1411.25 -1.25 paper [09:38] <dragon310> long er @ 737.80 -> med [09:39] <@NihabaAshi> 0,3 Long ER2 @ 739.00 -> medium size [09:40] <+dragon310> half off er @ 739.00 [09:41] <@NihabaAshi> 0,2 Exited all ER2 Long @ 738.80 --> - 0.2 [09:42] <@NihabaAshi> 0,3 Long ER2 @ 738.90 -> medium size [09:44] <@NihabaAshi> volatility declining.... [09:44] <@NihabaAshi> Not good when buying intraday highs because it can easily contract [09:45] <@NihabaAshi> 0,2 Exited ER2 Long @ 739.40 --> + 0.5 [09:46] <@NihabaAshi> more contraction [09:47] <PapaJon> makes for tough trading [09:48] <+tzar> looking for a possible short on YM [09:50] <@NihabaAshi> 0,3 Long ER2 @ 740.00 -> medium size [09:52] <+dragon310> 1/2 of 1/2 remaining @ 740.40 :) [09:52] <@NihabaAshi> 0,2 Exited ER2 Long @ 740.60 --> + 0.6 [09:52] <+dragon310> going to try to ride this baby to r2 [09:52] <@NihabaAshi> volatility contracting again :( [09:55] <Pepe> gm all [09:58] <+rickf> short es 1414.75 paper sm sz [09:58] <+tzar> long YM 12925 [09:58] <KN-ES> 0,4 Shorts ER2 @ 740.20 [09:59] <+KN-ES> sl 1 [10:00] <+tzar> out 12932 +7 [10:02] <+rickf> exit es 1413.75 +1 paper [10:12] <@NihabaAshi> DAX volatility spike [10:12] <@NihabaAshi> Other key markets seem to be ignoring it [10:13] <@NihabaAshi> 0,4 Shorts ER2 @ 739.90 -> small size [10:15] <+KN-ES> 0,2 Covered 1/2 ER2 Short @ 739.2 --> + 1 [10:15] <@NihabaAshi> picked pocketed [10:15] <+KN-ES> :) [10:15] <@NihabaAshi> 0,2 Covered ER2 Short @ 739.80 --> + 0.1 [10:16] <@NihabaAshi> I adjusted my trailing stop too soon [10:19] <+szubaark> looks like we waiting for 10:30 Oil report [10:24] <+rickf> short es 1414/25 paper [10:25] <+tzar> possible short coming up on YM [10:46] <nikopa> l;; [10:59] <+tzar> long YM 12944 [11:05] <Andy> 0,3 Long ES @ 1414.5 4,0 «« paper »» [11:08] <@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 [11:08] <+Andy> 0,2 Exited all ES Long @ 1414.75 --> + 0.25 4,0 «« paper »» [11:09] <+Andy> didn't feel that reassured... [11:10] <+Andy> no volume coming in to the upside [11:11] <+Andy> no volume at all, really [11:18] <+KN-ES> 0,3 Long ES @ 1414.75 [11:18] <+KN-ES> s.l 1413.25 [11:29] <BigDawg291> morning all [11:30] <+Andy> gm BD [11:30] <+BigDawg291> morning andy [11:30] <+tzar> out 1246 +2 [11:30] <+BigDawg291> how has trading been for you all this morning? [11:31] <+KN-ES> 0,2 Exited 1/2 ES Long @ 1415.75 --> + 1 [11:34] <+Andy> 0,4 Shorts ES @ 1415.75 4,0 «« paper »» [11:39] <+Andy> geez [11:40] <+Andy> 0,2 Covered all ES Short @ 1415.75 --> 0 4,0 «« paper »» [11:40] <+KN-ES> dont give up... [11:40] <+Andy> I knuckled under :) [11:41] <+Andy> one area of improvement: I'm getting out, rather than letting my stop get hit... [11:41] <+Andy> I can always get back in... [11:41] <+KN-ES> agree [11:42] <+Andy> and listening to the voice of pa... [11:43] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1416.75 --> + 2 [11:43] <+KN-ES> h8 [11:48] * codehead_afk is now known as codehead [11:51] <+dragon310> exited remaining er long @ 743.2--> +4.4 [11:51] <+szubaark> these gap up days are tough, nothing but Creep higher [11:53] <lumenPharmer> wtg dragon [11:53] <+dragon310> thks [11:53] <+dragon310> rode that last one to r2 [11:53] <+tzar> dragon310 how many contracts are you using [11:53] <+dragon310> '4 [11:53] <+tzar> jeez thats over 500$ profit [11:54] <+dragon310> yea but i scaled out [11:55] <+dragon310> so didn't get the full 4.4 points per contract [12:00] <+tzar> i see [12:00] <+tzar> what do you use for a stop? [12:01] <+rickf> back [12:01] <@NihabaAshi> Some people shouldn't be in the markets... [12:01] <@NihabaAshi> http://ca.news.yahoo.com/s/capress/080514/world/austria_family_slain [12:02] <+rickf> wonder if they worked for soc gen? [12:03] <+tzar> jeez [12:03] <+tzar> thats no good [12:03] <+rickf> no kidding [12:04] <+Andy> sounds sociopathic/psychotic [12:05] <+dragon310> 3 points tzar -- but gets adjusted as it goes [12:05] <@NihabaAshi> 0,3 Long ER2 @ 743.30 -> small size [12:06] <@NihabaAshi> volatility contracted :( [12:09] <ItalianSharp> Niha, guess ER2 is waiting for ES to breakout before giving another push [12:09] <+ItalianSharp> tough range right now [12:12] <@NihabaAshi> 0,2 Exited ER2 Long @ 743.40 --> + 0.1 [12:12] <MK> 0,3 Long ER2 @ 743.5 4,0 «« paper »» [12:12] <@NihabaAshi> poor initial entry reduces the wiggle room and profit level [12:13] <@NihabaAshi> Had no choice but to dump that trade as soon as it got profitable [12:14] <+MK> 0,2 Exited ER2 Long @ 742.9 --> - 0.6 4,0 «« paper »» [12:14] <+MK> 0,4 Reverse and Enter Short ER2 @ 742.9 4,0 «« paper »» [12:14] <+BigDawg291> I tried to get in at 742.90 long, but didn't get filled earlier [12:15] <+szubaark> yeah getting good Entries is Critical in this market [12:16] <+rickf> short es 1416.75 sm sz [12:16] <+rickf> paper [12:22] <+rickf> exit 1416.75 +0 paper [12:22] <+rickf> didn't happen, not going to risk it [12:23] <+szubaark> Brutal Creep action continues [12:24] <+rickf> no kidding - es volume is thin [12:24] <+rickf> still think it'd move to the downside, but waiting for pa to do *something* first [12:24] <+szubaark> Creeper trends are tough to "Trade" [12:25] <+rickf> you can say that again [12:25] <+Andy> szu, you were reading my mind [12:25] <+szubaark> i always get whacked on creeper trend days [12:25] <+rickf> thought i'd try something; didn't happen as i expected, figured to exit while i could and be safe [12:25] <+rickf> been burned on too many creeper days, really want to not chase [12:26] <+Andy> be prepared to not take a single trade all day [12:26] <+MK> 0,2 Covered ER2 Short @ 743.2 --> - 0.3 4,0 «« paper »» [12:26] <+MK> 0,3 Reverse and Enter Long ER2 @ 743.2 4,0 «« paper »» [12:26] <+szubaark> i think i might just have to Avoid trading these big gap up/down days [12:27] <+szubaark> do something else instead of watching this crap [12:27] <+rickf> might make for an interesting pm session though [12:28] <+rickf> or not :( [12:28] * szubaark is now known as szubaarl_away [12:29] <+lumenPharmer> daily osculators getting extended, that might encourage the shorts to give it a try, but low volume creep still going [12:30] <+lumenPharmer> also options exp week [12:30] <+MK> 0,3 Long ER2 @ 742.5 -> Add 4,0 «« paper »» [12:31] <+lumenPharmer> could still hit 760 with that 720 breakout [12:36] <+lumenPharmer> 680 -720 range was 25days long, so we have 12 days left to hit 760 [12:39] <+lumenPharmer> last 680-720 range was 29 days long, broke to the downside and hit target in 10 days(640) [12:40] <+lumenPharmer> we are on day 13 of the long breakout, so we shall see [12:41] <+rickf> steve smith over at the street.com had an interesting note yesterday -- [12:41] <+rickf> citing dailysentiment blog, he noted that -- [12:42] <+rickf> "Since 1990, [when] the VIX hit a six-month low, while the S&P 500, on which the VIX is based, was still at least 1% below its own three-month high ... returns in the S&P 500 going forward were substandard (and negative) going out as far as two months." [12:42] <+rickf> "From one to 10 days out, the S&P was positive less than 45% of the time, and showed an average return that that varied between -0.1% and -0.8%. [12:42] <+rickf> i wont post the rest, but he suspects this is a frothy boiling point, and more downside is waiting to happen [12:43] <+rickf> (using history as an example) [12:43] <+lumenPharmer> yes but the vix sat at 11 and ground the crap out of us for months ;) a little while back [12:44] <+lumenPharmer> me no likey the vix ;P [12:44] <+rickf> short es 1415.25 paper [12:44] <+rickf> lumen: :) [12:45] <+Andy> 0,3 Long ES @ 1415.25 4,0 «« paper »» [12:45] <+lumenPharmer> hehehe "the market can do anything" so be ready, say it every morning and you will be ok :) [12:47] <+MK> 0,3 Long ER2 @ 741.8 -> Add 4,0 «« paper »» [12:52] <+Andy> hanging longer with this one than I like [12:53] <+Andy> 0,2 Exited 2/3 ES Long @ 1416.25 --> + 1 4,0 «« paper »» [12:53] <+rickf> exit es 1415.75 -.50 paper [12:56] <+Andy> h3 [13:00] <+Andy> 0,2 Exited 1/3 ES Long @ 1416.75 --> + 1.5 4,0 «« paper »» [13:00] <+rickf> nice andy [13:00] <+Andy> h2 [13:00] <+Andy> thanks rickf [13:01] <+Andy> that was 1/3rd of 3 left [13:01] <+Andy> 0,2 Exited 1/3 ES Long @ 1417.25 --> + 2 4,0 «« paper »» [13:01] <+Andy> h1 [13:01] <+MK> es trying to break [13:02] <+KN-ES> 0,2 Exited 1/2 ES Long @ 1417.25 --> + 2.5 [13:02] <+KN-ES> h6 [13:04] <+Andy> hey, I actually took a trade that went with the trend :) [13:04] <+rickf> lol [13:05] <+KN-ES> nice Andy [13:05] <+Andy> thanks KN [13:05] <+BigDawg291> nice trade andy and kn [13:05] <+Andy> thanks BD [13:06] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1417.75 --> + 3 [13:06] <+KN-ES> out 1 [13:06] <+KN-ES> h 5 [13:06] <+KN-ES> thanks BD [13:07] <+pat255> vn kn with the trend .. [13:07] <+KN-ES> thanks pat255 [13:07] <+Andy> 0,2 Exited Remainder ES Long @ 1417.75 --> + 2.5 4,0 «« paper »» [13:07] <+KN-ES> cool [13:07] <+Andy> don't have KN's patience with the trend, but trying to learn... [13:08] <+BigDawg291> where do you all usually place stops and profit targets? [13:11] <+rickf> my initial profit target on most trades is 2 pts on the es [13:11] <@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 [13:11] <+BigDawg291> ok cool [13:11] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1418.25 --> + 3.5 [13:11] <+KN-ES> h4 [13:12] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1418.75 --> + 4 [13:12] <+KN-ES> h3 [13:13] <+MK> 0,2 Exited ER2 Long @ 743.5 --> + 0.3 4,0 «« paper »» [13:13] <+MK> 0,4 Reverse and Enter Short ER2 @ 743.5 4,0 «« paper »» [13:15] <+MK> 0,2 Covered ER2 Short @ 743.9 --> - 0.4 4,0 «« paper »» [13:15] <+MK> 0,3 Reverse and Enter Long ER2 @ 743.9 4,0 «« paper »» [13:16] <+Andy> 0,4 Shorts ES @ 1419.75 4,0 «« paper »» [13:17] <+Andy> 0,2 Covered 1/3 ES Short @ 1419 --> + 0.75 4,0 «« paper »» [13:19] <+Andy> 0,2 Covered Remainder ES Short @ 1419.75 --> 0 4,0 «« paper »» [13:21] <+MK> 0,2 Exited all ER2 Long @ 744.1 --> + 2.5 4,0 «« paper »» [13:24] <+Andy> that short was a little too heroic for me :) [13:24] <+Andy> although it looks like it might have worked [13:25] <+Andy> yah [13:25] <+KN-ES> agree [13:26] <+rickf> sgirt es 1419 sm sz paper [13:26] <+Andy> sgirt? a new hedging strategy, rickf? :) [13:26] <+rickf> heh [13:26] <+rickf> short [13:33] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1419.75 --> + 5 [13:33] <+MK> 0,3 Long ER2 @ 743.8 4,0 «« paper »» [13:33] <+KN-ES> h2 [13:37] <+dragon310> long er @ 744.4 -- med size [13:38] <+dragon310> hmm er2 struggling [13:39] <+tzar> YM approaching 13000 [13:41] <+Andy> 1424 was the previous es high May 2nd [13:43] <+dragon310> eh... ill tighten my stop i guess [13:47] <+Andy> 0,4 Shorts ES @ 1421.25 4,0 «« paper »» [13:48] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1420.75 --> + 6 [13:48] <+KN-ES> h1 [13:49] <+Andy> 0,2 Covered 2/3 ES Short @ 1420.25 --> + 1 4,0 «« paper »» [13:49] <+Andy> h3 [13:49] <+KN-ES> nice job Andy [13:50] <+MK> 0,2 Exited ER2 Long @ 744.5 --> + 0.7 4,0 «« paper »» [13:50] <+MK> 0,4 Reverse and Enter Short ER2 @ 744.5 4,0 «« paper »» [13:50] <+dragon310> exit all er2 long @744.5 --> +01 [13:51] <+Andy> 0,2 Covered 1/3 ES Short @ 1419.75 --> + 1.5 4,0 «« paper »» [13:51] <+Andy> h2 [13:51] <+rickf> wtg [13:51] <+Andy> thanks, rickf [13:56] <+KN-ES> tp 21.75+- [14:04] <+Andy> 0,2 Covered 1/3 ES Short @ 1419.25 --> + 2 4,0 «« paper »» [14:04] <+Andy> h1 [14:05] <+dragon310> short at 744.5 --> small size [14:06] <+MK> good one Andy...what does h1, h2.. mean? [14:06] <+Andy> holding 1, holding 2 contracts, thanks MK [14:07] <+Andy> it allows others to see how you are scaling in or out [14:07] <+MK> ok, thx [14:12] * spartan_away is now known as Spartan [14:12] <+dragon310> covered short at 740 --> + .05 [14:13] <+dragon310> i meant 744 [14:13] <+Andy> vn dragon [14:13] <+dragon310> thanks... [14:15] <+dragon310> creeper market [14:15] <Bambam-77> soon come dragon [14:16] <+Bambam-77> 46 first maybe [14:17] <+Bambam-77> 44.4 us upper val area [14:18] <+Bambam-77> below they will short it above long [14:18] <+Bambam-77> 12 min left to 30 min candle close [14:22] <@NihabaAshi> 0,4 Shorts ER2 @ 744.00 -> small size [14:24] <+Bambam-77> 740.20 could be our lower trgt as long as we stay below 44.4 [14:24] <werner> hi all, 2days no conection to interner here......pfffffff [14:24] <+rickf> hi werner [14:24] <+werner> internet [14:24] <+Andy> hello werner [14:25] <+werner> hi rickf [14:25] <+werner> yo andy [14:25] <+Andy> yo :) [14:25] <@NihabaAshi> volatility is so low and flatlined...I have to keep a tight trailing stop [14:26] <+Andy> vacuum below 18.5 [14:26] <Spartan> 0,3 Long ES @ 1418.50 -> medium size 4,0 «« paper »» [14:28] <@NihabaAshi> 0,2 Covered ER2 Short @ 743.90 --> + 0.1 [14:29] <@NihabaAshi> Didn't even get close to a WRB pt1 :( [14:29] <@NihabaAshi> volatility rising now [14:31] <@NihabaAshi> I'm so bored with this price action right now... [14:31] <@NihabaAshi> Be back later...going outside to jump on the kids trampoline :) [14:31] <+Spartan> 0,2 Exited 1/2 ES Long @ 1419.75 --> + 1.25 4,0 «« paper »» [14:31] * NihabaAshi is now known as NihabaAshi_away [14:32] <+Andy> 0,2 Covered Remainder ES Short @ 1419.75 --> + 1.5 4,0 «« paper »» [14:32] <+Andy> vn Spartan [14:32] <+Spartan> thanks, ditto [14:33] <+dragon310> long er 744.40 [14:33] <+MK> 0,2 Covered ER2 Short @ 744.5 --> 0 4,0 «« paper »» [14:33] <+MK> 0,3 Reverse and Enter Long ER2 @ 744.5 4,0 «« paper »» [14:35] <+Andy> time to walk the dog... [14:36] <+Spartan> 0,2 Exited Remainder ES Long @ 1419.25 --> + 0.75 4,0 «« paper »» [14:38] <+dragon310> exit long @ 743.90 --> - .05 [14:40] <+MK> 0,2 Exited ER2 Long @ 743.2 --> - 1.3 4,0 «« paper »» [14:40] <+MK> 0,4 Reverse and Enter Short ER2 @ 743.2 4,0 «« paper »» [14:41] <+Bambam-77> protecting er ss from 44.4 [14:41] <+Bambam-77> 42.6 is point of control anticipate bounce here [14:45] <+Spartan> 0,4 Shorts ES @ 1419 -> medium size 4,0 «« paper »» [14:49] <+Bambam-77> if we clear 742.6 next pos trgt is 740.60 [14:53] <+Spartan> 0,2 Covered 1/2 ES Short @ 1418 --> + 1 4,0 «« paper »» [14:53] <+Spartan> 0,6 exit stop moved to breakeven ES @ 1419 4,0 «« paper »» [14:54] <+dragon310> long er 742.00 [14:55] <+Bambam-77> bounce to 42.8 pos in next 1/2 hr trnd is down for now [14:55] <+dragon310> see if 741.60-70 holds [14:56] <+Bambam-77> 41.20 pos trgt [14:57] <+Spartan> 0,2 Covered all ES Short @ 1419 --> 0 4,0 «« paper »» [15:01] <+dragon310> exit er long @ 741.5 [15:01] <+dragon310> --> -5 [15:01] <+dragon310> :p [15:02] <+dragon310> -.5 i mean [15:02] <+Bambam-77> rev trgt now 740.40 area [15:02] <+MK> 0,2 Covered all ER2 Short @ 741.3 --> + 1.9 4,0 «« paper »» [15:03] <+Spartan> 0,3 Long ES @ 1417.25 -> medium size 4,0 «« paper »» [15:04] <+Bambam-77> pos re ss area 18.75 [15:07] <+Bambam-77> +4 at trgt 740.4 1 lot left stp 41 [15:07] <+tzar> long 12962 Ym [15:07] <+Spartan> 0,2 Exited all ES Long @ 1416.75 --> - 0.5 4,0 «« paper »» [15:09] <+dragon310> wow missed the sell off [15:10] <+MK> 0,3 Long ER2 @ 739 4,0 «« paper »» [15:11] <startrader> 0,3 Long ES @ 1416 [15:11] <+Bambam-77> need to clear 15.50 es then look for 14.50 [15:12] <+Spartan> 0,3 Long ES @ 1416.25 -> medium size 4,0 «« paper »» [15:14] <+Bambam-77> biding at 38.4 for flat +6 [15:14] <+Bambam-77> done for the day [15:14] <@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 [15:20] <+startrader> 0,2 Exited all ES Long @ 1416.50 --> + 0.5 [15:21] <+dragon310> Short er 739 [15:21] <+dragon310> - small size [15:21] <+MK> 0,3 Long ER2 @ 738.4 -> Add 4,0 «« paper »» [15:23] <+Spartan> 0,2 Exited all ES Long @ 1414.50 --> - 1.75 4,0 «« paper »» [15:24] <+dragon310> overed half 737.20 --> +1.8 [15:24] <+MK> 0,3 Long ER2 @ 737.2 -> Add 4,0 «« paper »» [15:25] <+dragon310> h2 final target 734 [15:32] <+dragon310> if this market closes down not good to look at on the daily chart [15:37] <BigDawg291> say what dragon? [15:38] <+dragon310> i say if the market closed down today wouldn't it show up as a hammer on the daily? [15:40] <+MK> 0,3 Long ER2 @ 736 -> Add 4,0 «« paper »» [15:42] <rickf> exit 1/2 es 1410.50 +2 paper [15:44] <+dragon310> eh i'm not goign to fight it... [15:44] <+BigDawg291> i see dragon yes it does [15:45] <+rickf> exit remainder es 1409 +3.5 paper [15:47] <+dragon310> Im out--- exited short on h2 at 734.90 -- +5 [15:47] <+BigDawg291> nice dragon and rick [15:47] <+dragon310> thks [15:48] <+dragon310> was trying to get that last pivot at 734.40 [15:50] <+BigDawg291> yeah, but +5 on ER2 is still a very nice gain [15:51] <+dragon310> yea good day today... got lucky on that last catch i thought i missed it [15:51] <+rickf> thx [15:51] <+BigDawg291> very nice [15:55] <+tzar> dragon310 how did you do today? [15:56] <+MK> 0,3 Long ER2 @ 735.5 -> Add 4,0 «« paper »» [15:57] <+dragon310> I havent' calculated yet... been to busy watching market [15:59] <+dragon310> i was wondering do your have a script that fire off your position entries and exits? [15:59] <+tzar> me? [16:00] <+BigDawg291> there is a script to dowload [16:00] <+tzar> yep i got it [16:00] <+tzar> didnt get a chance to play around with it though [16:01] <+dragon310> bc i see people sending stuff to the screen so quickly [16:04] <+tzar> dragon310, do you trade mainly ER2? [16:04] <+dragon310> er everything that move i guess in the indexes [16:04] <+dragon310> i like er though [16:04] <+dragon310> good bang for you buck [16:05] <+BigDawg291> you trade multiple contracts though don't you? i only can trade 1, I have traded YM, NQ, and ES, but never ER2 before [16:05] <+dragon310> i like the way Niha trades... [16:05] <+tzar> how much do you think i would have to have in my account to trade 1 contract of ER2? [16:06] <+dragon310> im not the best person to ask that [16:06] <+dragon310> i've been trading for 5 years only .. [16:06] <+dragon310> i trade in 2s [16:06] <Brutus> http://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={cf49ae34-60fc-48cb-9a3f-0535ab60568f} [16:06] <+dragon310> 2 4 6 [16:06] <+dragon310> contracts at a time [16:07] <+dragon310> been having a rough time though in the market not going to lie about that [16:08] <+dragon310> i need to learn better price action like Nihi [16:08] <+rickf> me too [16:08] <+BigDawg291> me too :) [16:08] <+rickf> trying to avoid indicators [16:09] <+BigDawg291> all i use is indicators, niha's system might be better though [16:09] <+rickf> i need to stick to my plan more ... had too many impulse trades today, thankfully got out of most of 'em at breakeven [16:09] <+BigDawg291> probably is [16:10] <+BigDawg291> i ahve been working ion trying to stick to my plan more and be disciplined [16:10] <+rickf> bd -- not saying i dont WANT to use 'em (i do) but dont want to rely on them per se [16:10] <+BigDawg291> yeah [16:11] <+dragon310> indicators help if you have a strict plan on using them... just like price action.. [16:11] <+BigDawg291> what do you use? aal i use is bollinger bands, RSI, volume, and the 20 and 8 MAs [16:12] <+rickf> 3 and 18 MAs (3 is adaptive), moneyflow, and volume [16:12] <+dragon310> no more indicators for me execpt for some moving average... sometime i pull up cci [16:12] <+rickf> maybe BB or Keltner now and then [16:12] <+BigDawg291> cool [16:12] <+rickf> moneyflow and volume are interesting when viewed together [16:13] <+BigDawg291> i have never used moneyflow before [16:13] <+rickf> mfi = rsi weighted to include volume [16:13] <+rickf> (layman's term) [16:13] <+dragon310> i wish there was an indicator in my package that tells me when big traders are selling and hitting the bid rather me gussing it [16:13] <+dragon310> swim with the whale [16:13] * NihabaAshi_away is now known as NihabaAshi [16:14] <+BigDawg291> ok rick, yeah dragon that would be nice [16:14] <+rickf> heh [16:14] <@NihabaAshi> Ugly price drop...you guys waited for me to go jump on the trampoline to make your big move. [16:14] <@NihabaAshi> :) [16:14] <+rickf> lol [16:15] <+dragon310> wished you were here niha [16:15] <+BigDawg291> lol [16:15] <+dragon310> could have followed your lead [16:16] <@NihabaAshi> Yeah...by 2:30pm est I was mentally burnt out while watching that creeper uptrend from 10:15am - 2:30pm est [16:16] <+rickf> i've been eyeballign the er2 -- trying to see how it behaves compared to the es [16:16] <+rickf> just for variety....seems w/less volume the moves are more pronounced than the es [16:17] <@NihabaAshi> In hindsight...had I taken my usual lunch break or 2 hr mid-day break...I would have been around to trade the late afternoon trading session. [16:17] <@NihabaAshi> No biggie...there's another trading day tomorrow :) [16:19] <@NihabaAshi> Take care all, see all tomorrow [16:19] <+rickf> cu [16:19] * NihabaAshi is now known as NihabaAshi_away [16:21] <+dragon310> night all... [16:22] <+tzar> night dragon310 [16:22] <+tzar> NihabaAshi_away [16:22] <+rickf> nite [16:22] <+BigDawg291> night dragon [16:23] <+dragon310> oh forgot where can i find that script? [16:23] <+BigDawg291> on the forum where it talks about how to login to the chat room [16:24] <+dragon310> ok trhanks [16:24] <+BigDawg291> no problem [16:27] <+rickf> nite all -- see you tomorrow Session Close: Wed May 14 16:31:49 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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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

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