#FuturesTrades May 16th Friday 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.
WRB Analysis	Learn More
	Session Start: Fri May 16 09:24:22 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 [09:24] <Widgetman> 47 +1/8 [09:24] <rickf> gm all [09:25] <PapaJon> gm all [09:26] <Bambam-77> 4 min to open [09:29] <drt> gm everyone [09:30] <+rickf> short es 1427.25 paper [09:32] <@NihabaAshi_ashi> 0,4 Shorts ER2 @ 744.40 -> large size [09:32] <+rickf> exit 1/2 es 1425.25 paper [09:32] <+rickf> +2 [09:33] <szubaark> nice rick [09:33] <+rickf> ty [09:33] <anglo> gm [09:34] <+rickf> exit remainder es 1425 +2.25 paper [09:35] <@NihabaAshi_ashi> 0,2 Covered ER2 Short @ 743.80 --> + 0.6 [09:35] <peterpanboy> gm to everyone [09:35] <tzar> h [09:35] <+tzar> m [09:35] <+tzar> gm [09:35] <ItalianSharp> Niha, your nickname is weird today [09:35] <+ItalianSharp> you have a double Ashi [09:36] <+rickf> it's an ultra-nick ... double the nickname :) [09:36] <@NihabaAshi_ashi> It's easier to talk to myself like this :) [09:37] <+PapaJon> hehe [09:37] <+ItalianSharp> ;) [09:38] <dragon310> gm all [09:39] <@NihabaAshi_ashi> 0,4 Shorts ER2 @ 743.80 -> medium size [09:39] * NihabaAshi_ashi is now known as NihabaAshi [09:40] <+szubaark> 0,4 Shorts ES @ 1424.50 4,0 «« paper »» [09:41] <@NihabaAshi> 0,2 Covered 3/4 ER2 Short @ 742.40 --> + 1.4 [09:42] <futurible> vn Niha for your trade [09:42] <+futurible> very fast [09:44] <@NihabaAshi> 0,2 Covered Remainder ER2 Short @ 740.30 --> + 3.5 [09:44] <+rickf> wtg [09:45] <+tzar> thats a good way to start a friday [09:45] <@NihabaAshi> Exited early...data just died :( [09:45] <@NihabaAshi> My ER2 data is stuck at 741.60 [09:46] <+tzar> its 739.30 [09:46] <@NihabaAshi> I dumped it because I see NQ dropping like a rock [09:46] <@NihabaAshi> :( [09:46] <+peterpanboy> yeaf free fall [09:46] <+ItalianSharp> well, nobody will ever blame you for taking profits Niha [09:46] <@NihabaAshi> ER2 data working now in X_Trader [09:46] <+tzar> NihabaAshi what indicators/ oscillators do you use ? [09:47] <@NihabaAshi> Nevermind...everything frozen now :( [09:47] <+tzar> custom? [09:47] <@NihabaAshi> Geeesh [09:47] <@NihabaAshi> tzar...I don't use indicators [09:47] <+tzar> what do you base your trades on? [09:47] <@NihabaAshi> Price itself...lots of volatility stuff [09:48] <+dragon310> short zn 115'065 -- med size with tight stop [09:48] <+peterpanboy> tzar remember indicator always lagging... [09:48] <+tzar> you just look at the DOM and time and sales? [09:48] <@NihabaAshi> No... [09:49] <+peterpanboy> short nq [09:50] <@NihabaAshi> tzar...I just look at the price on the charts (no DOM) [09:50] <+tzar> i see [09:50] <+tzar> trading of the charts [09:51] <+tzar> and you look at other eMinis as well, right? [09:51] <@NihabaAshi> I do have Times & Sales up to help with trade management AFTER entry but not with any entry signals [09:51] <+rickf> ;pmg es 1423.75 paper [09:51] <@NihabaAshi> I look at everything...all the stuff you see me in here talking about. [09:51] <+rickf> er long [09:51] <@NihabaAshi> Called "intermarket analysis"...DAX, Oil, Gold et cetera [09:51] <+dragon310> wow niha you don't even use the dom to enter your order? [09:52] <+peterpanboy> nihaba how is reliable x-trader [09:52] <@NihabaAshi> I don't think he was talking about "order entries" [09:52] <@NihabaAshi> peter...it's as reliable as my other brokers [09:53] <+dragon310> oh [09:53] <+peterpanboy> so in the same legue I.B. [09:53] <@NihabaAshi> I don't use I.B. [09:53] <@NihabaAshi> I have in the past and have nothing but negative things to say about my experience with I.b. [09:53] <+peterpanboy> exit short nq and long now [09:54] <+peterpanboy> sorry i have to improve my timing on chat but is not easy trade and write [09:54] <+dragon310> who's your broker now ? [09:55] <+peterpanboy> out nq [09:55] <+peterpanboy> short nq [09:55] <+tzar> What do you base your entries on NihabaAshi, i recall you saying that you dont use support/resistance? [09:56] <+tzar> Econ report in 4 minutes! [09:56] <+rickf> reversed now short es 1423 paper [09:57] <+peterpanboy> exit long nq [09:58] <@NihabaAshi> tzar...you can read a little about what I do at http://www.thestrategylab.com/WRBAnalysis.htm [09:58] <+szubaark> peterpanboy, get the Trade Posting Script, otherwise we cant follow your trades [09:58] <@NihabaAshi> The key is not my entry signal... [09:58] <@NihabaAshi> It's the understanding of the price action prior to the appearance of any entry (pattern or intuition). [09:58] <+tzar> thanks a lot, will read it asap [09:59] <+peterpanboy> yeah better idea szubaark [09:59] <@NihabaAshi> Simply, if I don't understand the price action...I ignore my entry signals [09:59] <+peterpanboy> look for short [10:00] <+peterpanboy> on nq 2028 level [10:01] <@NihabaAshi> 0,4 Shorts ER2 @ 738.30 -> small size [10:01] <+szubaark> peterpanboy, here is the link to the script http://thestrategylab.com/forum/index.php?topic=32.0 [10:01] <+peterpanboy> thanks [10:02] <+rickf> exit es 1421 +2 paper [10:02] <+rickf> i almost dumped it at breakeven, wasnt sure if it'd keep dropping [10:03] <@NihabaAshi> Oil and Gold ranging now [10:03] <@NihabaAshi> DAX trying to find some support [10:04] <+peterpanboy> have to break 2026 NQ [10:04] <+peterpanboy> if not I exit [10:04] <@NihabaAshi> DAX still trying hard to get a support area in place [10:05] <+peterpanboy> nq exit 2027 [10:06] <@NihabaAshi> 0,2 Covered 2/3 ER2 Short @ 737.00 --> + 1.3 [10:07] <@NihabaAshi> Will only trade 1 contract only for the remainder of the trading day... [10:07] <+peterpanboy> short nq again [10:08] <+peterpanboy> I still wait for 2026 break [10:08] <@NihabaAshi> In fact, I may take a 2 - 3 hr mid-day trading break...still feeling mental sluggish (prone to trading mistakes and lack of patience). [10:09] <+peterpanboy> yeah nihaba wise words [10:09] <+szubaark> 0,2 Covered all Short ES at 1421 --> + 3.5 4,0 «« paper »» [10:10] <@NihabaAshi> Key markets in sync now [10:10] <@NihabaAshi> Making WRBs together or dropping through support areas [10:11] <+peterpanboy> so what do you await for when in sync? [10:11] <+peterpanboy> meanwhile my support test breal at last [10:11] <@NihabaAshi> 0,2 Covered Remainder ER2 Short @ 735.20 --> + 3.1 [10:12] <@NihabaAshi> When markets get together and produce similar like price reactions... [10:12] <+dragon310> wow bond rally without me and i got stopped out for 4 ticks... that's what i get for walking away [10:12] <@NihabaAshi> I'm looking to exit a profitable trade or a losing trade. [10:13] <+peterpanboy> ok jump off the train when is still running is it? [10:13] <@NihabaAshi> By the way, VIX has been rising today since the opening bell... [10:13] <@NihabaAshi> Only reason why I'm capturing points today. [10:14] <@NihabaAshi> Thus, very little contracting volatility today in the VIX in comparison to yesterday. [10:14] <@NihabaAshi> Lots of contracting yesterday in the VIX resulting in that infamous creeper uptrend [10:14] <+peterpanboy> so more volatility more swing and opporunity to get some point right? [10:15] <+szubaark> 0,3 Buys ES @ 1420.75 4,0 «« paper »» [10:15] <@NihabaAshi> Yep [10:15] <@NihabaAshi> You got to know your strategy though... [10:15] <+peterpanboy> thankd again nihaba [10:15] <+peterpanboy> of course [10:16] <+peterpanboy> mine is different so I like to understand yours.. [10:16] <@NihabaAshi> Some methods perform poorly in high volatility conditions or rising volatility conditions while performing poorly in low volatility conditions. [10:16] <@NihabaAshi> That's me [10:17] <@NihabaAshi> Other methods are the opposite...they perform better in low volatility conditions and perform poorly in high volatility (rising) conditions [10:17] <@NihabaAshi> Very useful info for position size management and knowing with to ignore your trade signals. [10:17] <@NihabaAshi> Something backtesting results won't show you [10:17] <+peterpanboy> exit NQ 2023,5 and reverse long [10:18] <@NihabaAshi> Another reason why backtesting results differ greatly to real trading results [10:18] <@NihabaAshi> Traders underestimate that impact of "Volatility". [10:18] <+peterpanboy> yeah great issue agreed [10:18] <@NihabaAshi> Especially when it changes...always changing. [10:19] <monowheel> How do you measure volatility intraday? [10:19] <@NihabaAshi> I prefer to eye ball it :) [10:19] <@NihabaAshi> That link I posted early gets into the basics of it. [10:19] <+peterpanboy> modify trail on 2025 NQ [10:19] <df3> some people look at avereage true range ATR [10:19] <+tzar> looking for a short at 12985 [10:20] <+tzar> YM [10:20] <+szubaark> 0,2 Exited all Long ES at 1422.25 --> + 1.5 4,0 «« paper »» [10:20] <@NihabaAshi> Simply, I like to look for small intervals that occur after a big wide interval [10:20] <@NihabaAshi> That tells me there's market contraction as in declining volatility [10:20] <+peterpanboy> exir NQ [10:21] <@NihabaAshi> Wide intervals (Wide Range Bodies or Wide Range Bars) tells me its a volatility spike [10:21] <@NihabaAshi> No indicator needed...just eye ball it :) [10:21] <pat255> thks N ..for comments ... [10:21] <+monowheel> thx [10:21] <+peterpanboy> Nihaba thx [10:22] <+tzar> ty NihabaAshi [10:22] <+anglo> [10:19] <@NihabaAshi> That link I posted early gets into the basics of it. [10:22] <+tzar> http://www.thestrategylab.com/WRBAnalysis.htm [10:22] <+anglo> ty for input [10:22] <+tzar> thats the link [10:24] <+szubaark> 0,3 Buys ES @ 1419.25 4,0 «« paper »» [10:25] <werner> gm all [10:26] <+rickf> hey werner [10:27] <+werner> yo rickf [10:27] <+szubaark> 0,2 Exited all Long ES at 1421.25 --> + 2 4,0 «« paper »» [10:28] <+rickf> vn szu [10:28] <+szubaark> thanks.. [10:29] <@NihabaAshi> VIX contracting and slowly declining [10:30] <+tzar> what is VIX? [10:31] <@NihabaAshi> 0,3 Long ER2 @ 737.20 -> small size [10:31] <@NihabaAshi> 1 contract only for the remainder of the trading day [10:32] <@NihabaAshi> VIX explanations... [10:32] <@NihabaAshi> http://www.investopedia.com/articles/technical/02/081202.asp [10:32] <+tzar> thanks NihabaAshi [10:33] <@NihabaAshi> http://www.streetauthority.com/terms/v/vix2.asp [10:33] <startrader> 0,4 Shorts ES @ 1422.25 [10:33] <+tzar> NihabaAshi how much would you recommend a trader have in his account per each contract traded ER2 ? [10:35] <@NihabaAshi> 0,2 Exited ER2 Long @ 737.40 --> + 0.2 [10:35] <@NihabaAshi> First trade today that didn't reach a WRB pt1 [10:36] <@NihabaAshi> tzar...depends on the experience level of the trader and profit/loss levels [10:36] <+szubaark> 0,4 Shorts ES @ 1421.75 4,0 «« paper »» [10:36] <@NihabaAshi> If you are talking about a complete newbie... [10:37] <@NihabaAshi> I recommend ONE YEAR of income saved up that correlates to your ONE YEAR living expenses or prior job [10:37] <@NihabaAshi> In contrast...I myself only trades via a 10k per contract [10:38] <+tzar> hmm [10:38] <@NihabaAshi> I've also done a few times a 2.5k per contract [10:38] <+startrader> 0,2 Covered 1/2 ES Short @ 1420.25 --> + 2 [10:38] <@NihabaAshi> Didn't have any problems with that either but that's due to my experience level [10:39] <@NihabaAshi> Anything trading account less that that... [10:39] <@NihabaAshi> You need to realistically view it as a "tuition account" to learn about trading. [10:40] <+startrader> 0,2 Covered Remainder ES Short @ 1421.25 --> + 1 [10:40] <+szubaark> 0,2 Covered all Short ES at 1421.75 --> 0 4,0 «« paper »» [10:43] <+szubaark> 0,4 Shorts ES @ 1421 4,0 «« paper »» [10:43] <+tzar> NihabaAshi, thanks for the explanation, your really good teacher [10:46] <+szubaark> 0,6 exit stop moved to breakeven ES @ 1421 4,0 «« paper »» [10:46] <+tzar> should open your own litle Dojo [10:47] <+szubaark> Volatility keeps Declining [10:47] <+anglo> ty for volat links niha. [10:47] <+szubaark> 0,2 Covered all Short ES at 1421 --> 0 4,0 «« paper »» [10:47] * szubaark is now known as szubaark_away [10:52] <@NihabaAshi> If anybody is wondering why the Chat Logs from here at the website aren't update (last updated May 5th)... [10:52] <@NihabaAshi> It's due to a problem with Google not being able to spider (index) my Logs. [10:52] <@NihabaAshi> Something to do with the format and the color codes. [10:53] <@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 [10:53] <@NihabaAshi> Thus, I've designed a temporary fix (no color codes) of the chat log and will upload it today or over the weekend. [10:53] <+rickf> k all back later - hitting the gym and getting groceries will keep me out of mid-day chop. :) back later [10:54] <+peterpanboy> thanks nihaba for your great work [10:54] <@NihabaAshi> All chat logs posted here @ http://www.thestrategylab.com/RecentTrades.htm [10:54] <+startrader> 0,3 Long ES @ 1418 [10:54] <@NihabaAshi> Those are the recent three months only... [10:54] <@NihabaAshi> Here are the complete list... [10:54] <@NihabaAshi> http://www.thestrategylab.com/ArchivedPastTrades.htm [10:55] <+df3> long es eh, hm [10:56] <+df3> is the script that you guys are using available? [10:58] <@NihabaAshi> Yeah...you have to be a registered member of the free discussion forum to get the script [10:59] <@NihabaAshi> After you join the forum...you then need to apply for membership to #FuturesTrades even though you obviously can get in here without applying :) [11:00] <@NihabaAshi> All info at http://www.thestrategylab.com/FuturesTradesChatRoom.htm [11:00] <+dragon310> my target on er2 is 727 area [11:00] <+df3> okay cool, ill head there in a bit. thanks [11:00] <+peterpanboy> the script is only for mIRC I suppose [11:00] <+pat255> just breakdown today ... [11:00] <+startrader> 0,2 Exited all ES Long @ 1416.50 --> - 1.5 [11:00] <+pat255> all s levels are being hammered .. [11:01] <+peterpanboy> now we are at important support on NQ [11:02] <+peterpanboy> NQ 2015 [11:02] <+pat255> be careful on the L now ..S levels are being broken to the downside [11:02] <+pat255> make LH after every bounce [11:02] <+peterpanboy> we will see what happen [11:03] <+Widgetman> anyone know where I can get a LH HL script for TS8 ? [11:03] <+Widgetman> thx [11:07] <+startrader> 0,4 Shorts ES @ 1416.75 [11:15] <@NihabaAshi> 0,4 Shorts ER2 @ 732.20 -> small size [11:25] <@NihabaAshi> shallow potential WRB pt1 it looks like if it hits 732.10 [11:25] <@NihabaAshi> :( [11:32] <@NihabaAshi> 0,2 Covered ER2 Short @ 733.00 --> - 0.8 [11:33] <KN-ES> 0,3 Long ES @ 1416.25 [11:41] <+startrader> 0,4 Shorts ES @ 1417.25 [11:41] <+KN-ES> 0,2 Exited 3/4 ES Long @ 1417.25 --> + 1 [11:49] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1418.25 --> + 2 [11:49] <+KN-ES> h6 [11:49] <jsbach> the speech [11:50] <+KN-ES> yes jsbach... [11:50] <+startrader> 0,4 Shorts ES @ 1417.75 [12:01] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1417.75 --> + 1.5 [12:01] <+KN-ES> h5 [12:02] <@NihabaAshi> 0,4 Shorts ER2 @ 734.80 -> small size [12:03] <+KN-ES> s.l 1414.75 [12:04] <@NihabaAshi> I see contracting volatility...will dump this and go on a long break from trading [12:06] * sep34 is now known as sep34_away [12:07] <@NihabaAshi> 0,2 Covered ER2 Short @ 734.20 --> + 0.6 [12:07] <@NihabaAshi> Be back later after a long lunch [12:07] * NihabaAshi is now known as NihabaAshi_away [12:07] <+tzar> bon apitite [12:07] <+jsbach> enjoy! [12:18] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1419.25 --> + 3 [12:18] <+KN-ES> h4 [12:26] * codehead_afk is now known as codehead [12:45] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1421.25 --> + 5 [12:45] <+KN-ES> h3 [12:47] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1420.25 --> + 4 [12:47] <+KN-ES> h2 [12:57] * szubaark_away is now known as szubaark [12:58] <+szubaark> 0,4 Shorts ES @ 1421.25 4,0 «« paper »» [12:59] <@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 [13:01] <+szubaark> hi Awash..long time [13:01] <Awash> howdy [13:02] <+Awash> just around for today [13:02] <+Awash> day off [13:02] <+Awash> what's up with you? [13:05] <+szubaark> Price just Creeping higher again, as it has been ALL this week [13:07] <MK> 0,3 Long ER2 @ 737.7 4,0 «« paper »» [13:09] <+KN-ES> 0,2 Exited 1/4 ES Long @ 1422.25 --> + 6 [13:09] <+KN-ES> h1 [13:11] <+KN-ES> s.l 1416.25 [13:14] * Awash is now known as Awash_afk [13:35] <+szubaark> hopefully the NQ will push the ES Down [13:36] <+szubaark> 0,6 exit stop moved to breakeven ES @ 1421.25 4,0 «« paper »» [13:37] <+szubaark> 0,2 Covered all Short ES at 1419 --> + 2.25 4,0 «« paper »» [13:39] <+KN-ES> its going down..... free fall till 1414.75 [13:40] <+szubaark> a lot better Volatility then the last 4 days Creeper crap we had [13:40] <+KN-ES> agree [13:40] <+szubaark> i have really hard time trading creeper trends [13:41] <+KN-ES> well, since volatility is so low [13:41] <+KN-ES> just wait for the low of the day to hit.........then go long [13:41] <+KN-ES> or the other way when High of the day is hit [13:42] <+szubaark> how u know that the high or low of day, if it wont go higher/lower, after all its just creeping, tick by tick, No Pullbacks [13:42] <+KN-ES> look at the vol [13:42] <+KN-ES> 1 min chart it must have 1250+ reading [13:43] <+KN-ES> if you dont have vol, it never going to break the support or resistance [13:44] <+KN-ES> and news spike with no vol is a very nice trade to catch a short trend of 5+ point [13:45] <+KN-ES> i m not trading much this week, hardly trading an hr each day, so, dont really have any idea about the big picture............ [13:59] <+szubaark> 0,4 Shorts ES @ 1420.25 4,0 «« paper »» [14:03] <+szubaark> 0,2 Covered all Short ES at 1420.25 --> 0 4,0 «« paper »» [14:11] <+rickf> back [14:12] * Flen is now known as FlenBPaulin [14:12] <+rickf> i missed the midday creep. wonderful :) [14:15] <+szubaark> 0,3 Buys ES @ 1421 4,0 «« paper »» [14:22] <+rickf> long es 1421.75 paper [14:24] <+KN-ES> nice entry [14:25] <+KN-ES> should have a HH [14:25] <+rickf> me or szu? [14:26] <+szubaark> staying with the overall weekly bullish trend now [14:26] <+szubaark> lets see if they finish the week strong, make headlines for the front cover [14:37] <BigDawg291> 0,4 Shorts YM @ 12950 [14:40] <+BigDawg291> 0,6 exit stop set YM @ 12965 [14:47] <+BigDawg291> 0,2 Trailing Stop Hit YM @ 12965 --> - 15 [14:48] <+szubaark> 0,6 exit stop moved to breakeven ES @ 1421 4,0 «« paper »» [14:49] <+tzar> possible short YM 12977 [14:49] <+szubaark> 0,2 Exited all Long ES at 1422.25 --> + 1.25 4,0 «« paper »» [14:54] <+rickf> exit es long 1423.75 +2 paper [14:55] <+szubaark> 0,3 Buys ES @ 1424 4,0 «« paper »» [14:55] <+MK> 0,2 Exited all ER2 Long @ 739.3 --> + 0.9 4,0 «« paper »» [15:02] <@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 [15:25] <+ItalianSharp> in hindsight, may would have been the easiest money every...buy whenever YM drops 100pts and you just collect the cash [15:25] <+ItalianSharp> :) [15:26] <+rickf> yeah that es long would've been nice, too [15:26] <+szubaark> hehe.. hindsight is always easy [15:26] <+rickf> ah well, 2 points isn't too bad [15:26] <+rickf> especially in the pm session (for me) [15:27] <+ItalianSharp> i've been getting nailed on shorts big time this month [15:27] <+ItalianSharp> whenever it looks like we are ready for a drop, we go up...even today, we had the big early drop and then on follow thru...creeping up since then [15:28] <+rickf> :( [15:28] <+ItalianSharp> a good trader must exploit this [15:28] <+ItalianSharp> funny thing is markets can still make new highs today [15:28] <+ItalianSharp> i would have never thought of it [15:28] <+szubaark> yeah..thing is we havent had creeper Price Action this year only started this Month [15:33] <+ItalianSharp> then we have this brutal profit taking like in ER2 that make it look like a top has been reached... [15:33] <+ItalianSharp> and then volatility contracts again...and we creep up again [15:33] <+dragon310> yep u hit that on the spot Sharp [15:33] <+ItalianSharp> the big boys have been playing this game all month...creep up, then sell off a bit, and creep up again [15:34] <+ItalianSharp> this is totally new to me and i am not used to it...this is the main reason i've been struggling this month...one of my worst months [15:34] <+szubaark> Same here. like i said they switched the game a little [15:34] <+rickf> right with ya [15:35] <+ItalianSharp> looks like a computerized plan by the big boys...its a real pattern [15:35] <+rickf> is why i am still back on paper even tho i have a new acct setup and ready [15:35] <+rickf> tryign to get a feel for things again [15:35] <+ItalianSharp> for instance...this AM i did really well when mkts were falling...and then i struggled again when they began rising [15:36] <+szubaark> thats why u have to change yur game plan once a while since they change the game, throw a curve ball [15:36] <+ItalianSharp> yep [15:36] <+tzar> 12980 short YM [15:36] <+rickf> indeed [15:36] <+ItalianSharp> problem is: it takes time to figure out what game they are playing [15:36] <+ItalianSharp> byt the time you figure it out, they could be playing a new game and you keep playing catch-up with them [15:36] <+szubaark> thousands and thousands of hours of screen time and lots of capital [15:37] <+ItalianSharp> look at YM...fell over 20pts off its highs and now we are at it again [15:37] <+ItalianSharp> exactly what i commented above [15:38] <+ItalianSharp> thank god that after having been anal-probed on shorts i quit taking shorts :) [15:38] <+ItalianSharp> and when you think a possible top is reached, think again :) [15:40] <+dragon310> look what the big boys did to ZN [15:40] <+ItalianSharp> yesterday my best trade of the day was a long trade with the following setup: [15:41] <+ItalianSharp> buy 2-3 ticks below the HOD...made 27 pts...dumbest trade of the day and most profitable one [15:41] <+ItalianSharp> something totally against my nature [15:41] <+KN-ES> sometime you will have to just break out of the box [15:42] <Pepe> IS what is HOD? [15:42] <+rickf> high of day [15:43] <+Pepe> thanks [15:43] <+KN-ES> pice is 2 tick shy where it suppose to be :) [15:43] <+KN-ES> price [15:44] <+KN-ES> 26.25 [15:45] <+szubaark> 0,6 exit stop moved to breakeven ES @ 1424 4,0 «« paper »» [15:46] <+KN-ES> 0,2 Exited Remainder ES Long @ 1425.25 --> + 9 [15:46] <+dragon310> short er 740.40 [15:46] <+szubaark> nice KN [15:46] <+KN-ES> thanks [15:46] <+rickf> wtg kn [15:46] <+KN-ES> thanks [15:46] <+dragon310> lets try this one and see if it's the real deal [15:47] <+KN-ES> it will go up, my guess [15:47] <+BigDawg291> KN, what do you use for stops? [15:47] <+KN-ES> usually 2 points fixed [15:49] <+dragon310> sucker.... [15:49] <+BigDawg291> ok i was wondering what you and most of you guys use, trying to figure out what to use for myself, have tinkred with many but haven't decided which to stick with [15:49] <+KN-ES> we should see 28.75 next [15:49] <+BigDawg291> that is on your initial position KN? [15:49] <+szubaark> Kn, yup looking for Target High of day test [15:49] <+KN-ES> my goal was 26.25 but its 4 already [15:50] <+KN-ES> got to get out [15:50] <+dragon310> cover er 740.4 even [15:50] <+KN-ES> well, BigDawg291, i use only volume if you are wondering [15:51] <+BigDawg291> to tell you when to get in and out? [15:52] <+BigDawg291> but your initial stop is 2 points? [15:52] <+KN-ES> pretty much [15:52] <+KN-ES> for most of the trades, yes [15:53] <+BigDawg291> ok [15:53] <+BigDawg291> thanks [15:54] <+szubaark> 0,2 Exited all Long ES at 1424 --> 0 4,0 «« paper »» [15:54] <+szubaark> too much chop here to stay in a trade [15:55] <+KN-ES> have a nice weekend, see you all on monday/tuesday.......good trading [15:55] <+BigDawg291> i only trade 1 contract and have been wondering where I should place my stops and what I should look for in a trade as profit target to make it a good trade, i know i probably need to make every trade 1:1 ris/reward or more [15:55] <+szubaark> yuo..bye [15:55] <+KN-ES> well, BigDawg291, i trade usually 24/25 contracts [15:55] <+szubaark> BigDawg u trade real money? [15:55] <+BigDawg291> yes [15:55] <+KN-ES> if if trade es [15:55] <+BigDawg291> yeah i knew you traded many KN [15:56] <+KN-ES> 8 for DAX [15:56] <+KN-ES> take care [15:56] <+BigDawg291> you too [15:56] <+rickf> cya [15:56] <+tzar> 25 cars for ES, thats nice [15:56] <+BigDawg291> lol yeah that is alot of moola tzar [15:56] <+tzar> indeed [15:57] <+tzar> still wondering how to take 2 contracts on YM [15:57] <+tzar> lol [15:57] <+BigDawg291> lol [15:58] <+tzar> thats 312.50 per tick [15:58] * +tzar faints [15:58] <+BigDawg291> lol [16:00] <+rickf> k all have a great weekend -- see ya next week [16:01] <+tzar> cya rickf [16:01] <+tzar> BigDawg291 its time for you to go also... [16:01] <+BigDawg291> say what? [16:01] <+tzar> well rick left... [16:02] <+tzar> so now you go [16:02] <+BigDawg291> lol [16:02] * Awash_afk is now known as Awash [16:02] <+tzar> lol [16:02] <+BigDawg291> ok i am out [16:05] <Brutus> http://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={8aa64956-8a86-42f1-b515-f0dd93ae8255} [16:26] <+peterpanboy> ok nice week-end to everyone [16:26] <+peterpanboy> see ya next week bye [17:08] <@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
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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)
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We are proud to say that our chat room members are from the following geographical areas in the world:

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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

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