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#FuturesTrades May 16th Wednesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+10.30	+154.40	+1285.60
$1,030	$15,440	$128,560

click on image to view actual size

Current Performance Record

Stock Trader's Almanac 2007

Profit/Loss Statement

Today's WRB Analysis: Take a look at your 2min chart of the Russell 2000 Emini ER2 futures @ 1244pm est and you'll see a Dark WRB.

In the next 2min interval is a white line in a bullish harami pattern with that Dark WRB to confirm a shift in supply/demand.

Bullish Harami patterns are trend reversal and trend continuation signals. They often remind me of the hot air balloon shows in New Mexico because the balloons slowly swells until they are released upwards into the sky.

Thus, at 1246pm est, the market lifted up off the ground and only looked down to enjoy the view.

As for myself, I missed the nice price rise to the sky because I was busy doing personal stuff at home (home repair stuff) that couldn't wait until the weekend...realities of a home-based trader.

You can find out more about Bullish Harami patterns at http://www.thestrategylab.com/bullishharami.htm

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: Wed May 16 09:34:24 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:34

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

<PapaJon> nice entry Brutus

<Brutus> Covered 1/2 ES Short @ 816.8 --> + 1.5 «« paper »» 09:35

Covered all ES Short @ 818 --> + 0.3 «« paper »» 09:37

<PapaJon> hmmf... we got whales in Sacramento today... crazy 09:40

for those who dont know the area.. we are about hours by car from the sea (inland) 09:41

the whales came up the Sacramento river

<szubaark> Shorts NQ @ 1887 «« paper »» 09:43

<PapaJon> "about 2-1/2 hours" 09:45

<jperl> ER2 in a tight congestion zone shown here... 09:48

http://charts.dacharts.com/2007-05-16/JP ERL_011.png

1 year 1st StdDev of VWAP @ 815.45 09:51

<eminitrader> Covered 1/3 ES Short @ 1510.50 --> + 1.25 10:04

<RussellDaytrade> is this enuf to the downside? time to buy 'em? 10:05

<jperl> ER2 at the 1 yeat STdDEv 10:06

<eminitrader> not too sure yet RD

<RussellDaytrade> yeah, not quite as clear as mud today for me.

<eminitrader> nq supp 82-84 and es 1509-1510 10:07

<RussellDaytrade> feels like its running outta steam to the downside

<eminitrader> Covered 1/3 ES Short @ 1510.75 --> + 1 10:08

<ItalianSharp> mkts still looking to find a direction...and except for oil inventories at 10.30am...there is nothing else that could possibly help them in this task 10:10

<eminitrader> globes has hh and ll ...conflict with daily ..for now

<szubaark> Covered all Short NQ at 1887 --> 0 «« paper »»

:((

<eminitrader> togh today szu

<ItalianSharp> i am going to wait until 15mins after the oil report...if nothing changes, today might be a good day to call it quits early and invest time in better things 10:11

<eminitrader> Covered Remainder ES Short @ 1511.75 --> 0

maybe right IS

<NihabaAshi> Long ER2 @ 816.50 -> small size 10:12

<Brutus> 1100/1500 Fed Gov Kroszner speaks on

globalization and captial mkts in

Argentina

1100/1500 Fed Gov Kohn participates in panel

discussion at Atlanta Fed conference in

Sea Island, Ga.

1300/1700 Dallas Fed Pres Fisher speaks on

globalization and the economy in Fort

Worth, Texas

<jperl> ER@ VWAP 817.40 10:13

ER2

<ItalianSharp> yep Brutus, many FED men speaking today at 11am and 1pm...

<NihabaAshi> I had a picture perfect entry lined up @ 816.10 but hesitatated too long.

Exited 1/3 ER2 Long @ 817.50 --> + 1.3 10:14

Geeesh...wrong script math.

I'm not sure why its doing that...its suppose to show +1.0 points and not +1.3 points.

Exited Remainder ER2 Long @ 816.70 --> + 0.2 10:15

<eminitrader> dont see res till 1517 if it breks 1514 10:16

Shorts ES @ 1512.75 10:19

2 tick stop

<szubaark> Buys NQ @ 1889.50 «« paper »» 10:22

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)

<NihabaAshi> EIA Petroleum Status Report @ 1030am est 10:26

FED members speak @ 11am est 10:27

Volatility in ER2 drying up fast...its waiting for the report. 10:28

<pdays> energy report out more than est 10:30

<eminitrader> Shorts ES @ 1511.25 -> Add

<NihabaAshi> Shorts ER2 @ 815.70 -> medium size 10:33

<jperl> Only two trades this morning...

http://charts.dacharts.com/2007-05-16/JP ERL_012.png

<NihabaAshi> Will be tough for this to go any lower. 10:34

<jperl> Price action sticking in the congestion zone will keep me on the sidelines.... 10:35

<szubaark> Exited all Long NQ at 1886.25 --> - 3.25 «« paper »»

Shorts NQ @ 1886.25 «« paper »»

<jperl> unless I get bored and want to do some scalps

<NihabaAshi> Covered 1/2 ER2 Short @ 814.60 --> + 1.1

<eminitrader> Covered 1/2 ES Short @ 1509.75 --> + 1.5 10:36

<NihabaAshi> Covered Remainder ER2 Short @ 815.60 --> + 0.1 10:38

<grabthemoney55> gm traders 10:40

* Looking up grabthemoney55 user info...

<eminitrader> Covered 1/3 ES Short @ 1510.25 --> + 2.5

<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)

<szubaark> nice emini

<NihabaAshi> Good morning grab

<eminitrader> thx szu niha 10:41

<grabthemoney55> thnx

<eminitrader> exit stop moved to breakeven ES @ 1511.75

<NihabaAshi> Long ER2 @ 815.70 -> small size 10:42

:(

Exited 1/2 ER2 Long @ 816.00 --> + 0.3 10:43

Exited Remainder ER2 Long @ 816.90 --> + 1.2 10:44

<eminitrader> Covered Remainder ES Short @ 1511.75 --> + 1

<szubaark> Covered all Short NQ at 1880 --> + 6.25 «« paper »» 10:56

<NihabaAshi> Weak support here.

<eminitrader> very nice szu :)

<szubaark> thanks.. 10:57

<NihabaAshi> Long ER2 @ 813.80 -> small size

2 contracts only

Exited 1/2 ER2 Long @ 815.10 --> + 1.3 10:58

Got a lot more than I expected 10:59

Exited Remainder ER2 Long @ 814.10 --> + 0.3 11:01

Didn't like the price action...started looking bearish again. 11:02

<grabthemoney55> nice trade nihabaAshi 11:04

<RussellDaytrade> 220 lb gold coin...I'll take as many as I can carry!

I have targets in the low 820'2 11:05

<grabthemoney55> long er 813.00 11:16

exited er 814.40 11:18

813.40 oops

+ 0.4 on er flat 11:19

<eminitrader> Shorts ES @ 1509 11:34

Shorts ES @ 1510.25 -> Add 11:37

<NihabaAshi> Long ER2 @ 814.20 -> small size 11:53

Position size error...went 1 contract instead of 2-3 contracts. 11:54

Exited ER2 Long @ 815.40 --> + 1.2 11:55

Caught a nice WRB pt1 exit and wish I had more contracts on the trade. 11:56

* codehead_afk is now known as codehead

<eminitrader> Covered all ES Short @ 1509.25 --> + 0.75 12:07

<NihabaAshi> Weak support around 814.10 12:12

* Looking up intowin user info... 12:17

up kei user info...

up Littman user info...

up grabthemoney55 user info...

<RussellDaytrade> pa looks up to me 12:19

<NihabaAshi> Shorts ER2 @ 814.10 -> small size 12:24

2 contracts only

I'm officially in profit protection mode...

Thus, I won't be doing any size today even if my best pattern signal appears.

:( 12:27

The weak support is slowly gathering some strength :(

Covered all ER2 Short @ 814.10 --> 0 12:28

* NihabaAshi is now known as NihabaAshi_lunch 12:30

<grabthemoney55> im leaving lunch time alone 12:31

<jperl> ER2 @ VWAP 815.45 13:22

<intowin> java ru "theword320" ? 13:47

<kei> long es @1512.75 13:54

<Fleneer> nice call on the long, kei 14:07

<kei> thanks but I don't know yet.I hope break to the upside. 14:09

<Fleneer> it did. 1515.75 14:13

3 points. how mcuh you want?

<eminitrader> :))

<RussellDaytrade> this has about fulfilled my target of 820 and change...close enuf 14:14

<kei> I got out here.Rally seems to be over for a short time.

<RussellDaytrade> bingo! 14:15

and 10 minutes, no less

* NihabaAshi_lunch is now known as NihabaAshi 14:23

<Brutus> Long ES @ 1513.75 «« paper »» 14:26

Exited 1/2 ES Long @ 1514.75 --> + 1 «« paper »» 14:27

Exited all ES Long @ 1515.25 --> + 1.5 «« paper »» 14:31

<RussellDaytrade> gotta reboot, having a great day. 14:37

<szubaark> lol

whatever dude

<Brutus> E it looks like your long setup ? 14:41

<eminitrader> missed by a tick

1513.25 was to be my entry 14:42

<Brutus> next time :)

<eminitrader> wi

;99

meant a sad smile

<szubaark> emin was that on your 3 min touching your ema;s? 14:43

ema's

<eminitrader> 3 min ...but not my ema's keltner band 14:44

ema's @ 1510-75 1311.25

low risk entry @1511...also 50% fib retrace 14:45

if i was stopped out on this entry # 1512.75 14:46

<Brutus> I just saw the pullback to support on the chart, knew it was your setup

<eminitrader> :)

<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)

<eminitrader> sihit happened yest..too...missed a good trade 14:47

there goes t1

<szubaark> t1=r1? 14:48

WRB Analysis

Learn More

<eminitrader> profit target 1 szu...

<szubaark> emini, brutus good comments guys.. wish we had more of it here that way we could ALL learn. 6 eyes are better then mine 2 14:49

<eminitrader> changeover to Es szu :) 14:50

<szubaark> yeah.. im thinking about it.. NQ is a little more Volatile 14:51

<Brutus> Best combo is the ER & ES 14:52

<szubaark> its just ES is notorious for gunning for Stops where NQ will hold Support/Resistance to the tick.

<Brutus> Notice the ER has a good morning counter run to the main trend of the day 14:53

<eminitrader> funny szu...my experience is just the opposite

<Brutus> The they move equal

But once the move nears completion..

<eminitrader> er too volatile forme..

<Brutus> The ES finishes the move while the ER will lag 14:54

No always but most imo

<szubaark> yes.. ER you need 10+ years experience to trade it..its FAST. ER=Jet fighter pilot like reflexes (good luck)

<eminitrader> also the er goes a bit beyond my percieved supp/res before turning around compared to the es 14:55

guess need different parameters for trading than the es

looks like a pullback time 14:56

<Brutus> Watching 1516.25 to 1517 to short 14:57

<eminitrader> 1517 is my area

but no sells today for me 14:58

<Brutus> ER trade tools

http://catalog.belkin.com/IWCatProductPa ge.process?Product_Id=157024

<eminitrader> :) 14:59

<Brutus> http://www.razerzone.com/index.php?main_ page=product_info&products_id=11

http://www.razerzone.com/index.php?main_ page=product_info&cPath=2_21&products_id =40

<szubaark> hehe.. this is Video Game for adults.. Very Difficult Video Game Looolll 15:00

<Brutus> Notice the razer mouse as 7 programable keys

and the razer keyboard has 10

nostromo Keypad about 17 x (3) programable keys 15:01

to bring is all together.. 15:02

http://www.hotkeymaster.com/

this little program is excellent

1 button arange windows, sent hotkeys execute sequences, timer functions, etc 15:03

pm for serial if you are poor :) 15:04

evey trader talks about multiple monitors (more than 2) 15:07

But to look at them you have to turn your head or eyes and refocus 15:08

with say esignals detachable windows for charts 15:09

1 button on my mouse I can use hotkeymaster to swap the window layout 15:10

so with enough cpu power I couls have 4 layouts and swap charts as needed

<Fleneer> I find many monitors and many indicators just confuses me. One monitor, two charts, simple price action and some EMAs.

<Brutus> yes fleener kiss is best 15:11

<eminitrader> i have 1 moniter each for the ym nq and es 15:12

<Fleneer> I do have two machines running. one for primary and one for backup. If PC trouble a simple flip of the KVM switch and I'm looking at the backup chart machine.

<Brutus> I want to soon get a 2 x 30" Dell setup grrrrrr 15:13

<eminitrader> mine r 17" lcd

<Fleneer> I want to be able to trade off a 15 inch notebook from anywhere. :o)

<jperl> Done for the day..... 15:14

P/L here...

http://charts.dacharts.com/2007-05-16/JP ERL_014.png

<Fleneer> P/L ??

<eminitrader> hey fleneer ..do u mean u have 2 cpu and corresponding monitors

<jperl> profit/loss

<Brutus> Yes I like the notebook but the sat link on my yatch is a bit slow :)

<Fleneer> one monitor akeybopard mouse with two machines running.

<jperl> started off the day ok, but lost it all at the end 15:15

<Fleneer> backup monitor keyboard mouse but not connected

<eminitrader> k so the monitor is connected to both cpu's

<Fleneer> yes. CPUs connected to KVM switch. Two keystrokes swithces machines.

<Brutus> ES here we go

<eminitrader> k thx 15:16

<Fleneer> Fibs 1512.00 to 1515.75 then .382 = 1514.50 intersting we bouncing around that 13.50 to 15.25 15:19

<eminitrader> from what levels 15:20

u means yest high/low

<Fleneer> no. last support and resistance by my take of the chart. 15:22

<eminitrader> k

Long ES @ 1514.25

2 only

<Fleneer> that's what Noah had to keep telling the rabbits. 15:23

<NihabaAshi> Shorts ER2 @ 817.40 -> small size

<eminitrader> :)

2 tick stop

Exited 1/2 ES Long @ 1514.75 --> + 0.5 15:24

<NihabaAshi> Covered ER2 Short @ 818.00 --> - 0.6 15:28

Reverse and Enter Long ER2 @ 818.00

<eminitrader> Exited Remainder ES Long @ 1515.25 --> + 1 15:29

<NihabaAshi> Exited ER2 Long @ 819.60 --> + 1.6 15:34

I'm glad I don't have a bad habit of getting "married to a trade" like I use to about 10 years ago. 15:36

<grabthemoney55> see u guys tomorrow 15:48

<NihabaAshi> Tough to mentally stay in the game and milk it after reaching profit goals for the trading day. 16:00

<Brutus> dow up 100

Shorts ES @ 822 «« paper »» 16:01

<NihabaAshi> Had my last trade occurred in the a.m. instead of deep into the p.m.

I would still be Long.

<Brutus> Covered ES Short @ 822 --> 0 «« paper »»

<NihabaAshi> Take care all and see all tomorrow 16:27

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Wed May 16 16:28:48 2007 16:28

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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 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.