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#FuturesTrades May 21st Wednesday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+14.90	+173.10	+1614.80
$1,490	$17,310	$161,480

Emini ES via SPY

1251pm - 1252pm est

click on image to view actual size

Current Performance Record

Volatility Spike of the Day

Profit/Loss Statement

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

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Session Start: Wed May 21 09:28:36 2008Session Ident: #FuturesTrades

* Now talking in #FuturesTrades 09:28

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

<tzar> gm NihabaAshi

<Flex> morning

<drt> good morning 09:30

<@NihabaAshi> Good morning all

<rickf> gm

<gary> gm

<T-stop> gm

<anglo> gm 09:31

<szubaark> Shorts ES @ 1416 «« paper »»

<PapaJon> gm all 09:33

<+rickf> short es 1416 paper

<Pepe> gm all 09:35

<@NihabaAshi> Shorts ER2 @ 737.80 -> medium size 09:36

intuition only

Covered ER2 Short @ 739.40 --> - 1.6 09:37

<+rickf> reverse now long es 1417 -1 paper 09:38

<@NihabaAshi> Long ER2 @ 740.50 -> medium size

<KN-ES> Shorts ES @ 1418.50. 09:40

<+rickf> exit es 1418.50 +1 paper

<+KN-ES> sl 2 09:41

<+rickf> grr

short es 1418.25 paper 09:44

<@NihabaAshi> Exited 1/2 ER2 Long @ 743.20 --> + 2.7 09:46

<+tzar> nice NihabaAshi

<+T-stop> nice patience

<@NihabaAshi> Tough trading because key markets are not in sync...all over the place. 09:48

Simply, ER2 is on its own

<+KN-ES> Covered 3/4 ES Short @ 1417 --> + 1418.50. - 1417 09:49

!

Shorts ES @ 1418.50

Covered 3/4 ES Short @ 1417 --> + 1.5 09:50

humm

<@NihabaAshi> Exited Remainder ER2 Long @ 741.50 --> + 1

<+tzar> nice KN-ES

<+KN-ES> Covered 1/4 ES Short @ 1416.50 --> + 2

thanks

h 8

<+rickf> exit es 1416 +2.25 paper 09:51

<+KN-ES> nice rickf 09:53

<+rickf> thx kn

<+Andy> vn rickf

<@NihabaAshi> Shorts ER2 @ 740.80 -> small size

<+rickf> thx

<+szubaark> nice rick

<+KN-ES> Covered 1/4 ES Short @ 1416 --> + 2.5 09:54

h 7

<+rickf> txh

er thx

<@NihabaAshi> Covered all ER2 Short @ 740.40 --> + 0.4 09:56

:(

Shorts ER2 @ 739.90 -> medium size 09:57

<Widgetman> damn

<@NihabaAshi> tough to hold that prior short (late entry)...

<+Widgetman> oops

sorry

<@NihabaAshi> Will be tougher to hold this follow-through trade 09:58

<+Widgetman> rug pull

<+KN-ES> Covered 1/4 ES Short @ 1415.50 --> + 3 09:59

h6

<+rickf> short es 1415 paper

<+Widgetman> VN KN 10:00

<+KN-ES> Covered 1/4 ES Short @ 1414.50 --> + 4

thanks

h5

<@NihabaAshi> Covered 3/4 ER2 Short @ 738.70 --> + 1.2 10:01

<dragon310> long er 738.8 10:02

<+dragon310> reverse short er 738.8 10:03

covered er 739.20 --> -04 L( 10:04

<@NihabaAshi> Covered Remainder ER2 Short @ 739.50 --> + 0.4

<+dragon310> short er 740.40 10:06

covered er er 738.40 --> +2 10:07

<+rickf> exit 1/2 es 1414 +1 paper 10:09

get the feeling we're entering a chop zone

<+KN-ES> Covered 1/4 ES Short @ 1413.50 --> + 5

h4

<+rickf> h4 target 1413 10:10

<+Widgetman> dang well played KN

ya may get ya 02 tgt

hehe

<+tzar> verry well played

<+KN-ES> thanks 10:11

<+rickf> exit remainder es 1414 +1 paper

<@NihabaAshi> Long ER2 @ 739.90 -> small size 10:14

Exited ER2 Long @ 738.50 --> - 1.4 10:16

<+rickf> :(

<@NihabaAshi> It knew where the stops were at...sliced right through like a hot knife in butter

<+Widgetman> TRIN > 1.2 hard for long plays for me 10:17

I try to work TRIN side

<+anglo> nice short at 18.50 KN. I almost saw it realtime.

<+tzar> yea i followed it print for print

<+szubaark> weak support here

<@NihabaAshi> Long ER2 @ 738.70 -> medium size 10:18

<+anglo> almost doesnt count however.

<+Widgetman> 38.3 S line for me

fwiw

then 34.2 area

<+anglo> I remembered 18 zone from yest

<@NihabaAshi> :( 10:19

<+szubaark> markets not in sync

<+KN-ES> will see 15.75 again

<+tzar> good place to short KN-ES? 10:20

<+anglo> [10:17] <+anglo> nice short at 18.50 KN. I almost saw it realtime.

[10:17] <+tzar> yea i followed it print for print

<+szubaark> Covered all Short ES at 1416 --> 0 «« paper »» 10:21

<+anglo> can you describe what you saw tzar please?

<@NihabaAshi> Exited all ER2 Long @ 739.50 --> + 0.8

<+KN-ES> someday we all will learn from my mistake

<@NihabaAshi> geeesh :(

<+tzar> on the way up, there was lots of big green prints ( big i mean over 150)

way more then red prints , and red were very small in comparison 10:22

it only cooled down at 19

that should have been an excelent entry point

Flex took 19

<+anglo> kewl tzar. thanks. will review.

<+tzar> then crazy selling begun

red prints of at least 300 10:23

<+szubaark> Shorts ES @ 1415.50 «« paper »»

<+anglo> by the time I saw the selling the price had already dropped

<+tzar> all the way down to about 15

yes, crazy selling happened

<+anglo> I noticed KN entry was on the way up...ie before 19.25 printed

<+tzar> he got 18.50 i belive 10:24

<+anglo> yes...but on the way UP

<@NihabaAshi> volatility flatlined

<+tzar> yes

but he knows stuff

anglo, you know what helps 10:25

<+anglo> surely you are joking Mr. tzar!...hehe

<+tzar> i opened 2 time and sales windows

one of them shows filtered, orders over 150+

<+anglo> kewl

<+dragon310> long 740.30 10:26

<+rickf> i dont get t&s data :(

<+KN-ES> rickf, who is ur data provider?

<+rickf> broker is open ecry

<+tzar> the way i understood KN-ES yesterday, once you see that either red or green dominates for a while, you wait for it to calm down, and enter the opposite. so if its green that dominates, you take a short once you see calm from green side 10:27

<+rickf> not t&s in terms of size lots

<+dragon310> covered 740 --> -03

<+anglo> yeah. KN is a gawd amongst insects...an X-man! ... hehe 10:28

he surely is generous too, describing his stuff. 10:29

<+tzar> KN-ES did you assemble your monster PC? 10:30

<@NihabaAshi> Shorts ER2 @ 739.00 -> small size

1030am est EIA Petroleum Status Report just released 10:31

<BigDawg291> just dropped wuick on Oil

<+tzar> red dominates right now

but KN-ES is short bias

conflicting indicators

haha

meanigs stay away from longs

<Splurge> wow crude figs complete surprise 10:32

<+Widgetman> my rule is if TRIN > 1.2

hide long btn

< 1.2 hide short

fwiw

<+szubaark> Huhe spike on Oil

<+tzar> my rule is, if KN-ES short, do not take long

<+Widgetman> lol

good rule

NEVER fade KN

<+tzar> lol

<@NihabaAshi> punks not giving me a fill :( 10:33

<+KN-ES> Covered 1/4 ES Short @ 1413 --> + 5.5

<+Widgetman> this is distribution imo

<+KN-ES> h3

<+Widgetman> dang KN

how many ya got ?

hehe

<+tzar> well Widgetman

you see all those 800+ prints on time and sales? 10:34

<@NihabaAshi> Covered ER2 Short @ 738.60 --> + 0.4

<+tzar> thats KN-ES haha

<+Widgetman> lol

<+Splurge> KN uses cursor arrows on his keyboard to move mkt lol

<+tzar> lol

<@NihabaAshi> Shorts ER2 @ 738.30 -> small size 10:35

<+anglo> [10:29] <+anglo> he surely is generous too, describing his stuff. 10:36

<@NihabaAshi> ER2 fighting hard to keep its support level :( 10:37

<+PapaJon> yes... very jumpy

<@NihabaAshi> Covered ER2 Short @ 739.70 --> - 1.4

<+dragon310> short er 793.7 10:38

<+szubaark> Covered all Short ES at 1414 --> + 1.5 «« paper »»

tough to stay in a position due to the shakes 10:39

<@NihabaAshi> Long ER2 @ 739.80 -> medium size

Pin Ball Machine price action 10:40

<+rickf> choppy

<@NihabaAshi> It's a bronco buck rodeo ride :(

<+KN-ES> Dax is the only instrument not that choppy :) 10:41

<+dragon310> covered er 740 --> -03

<+tzar> KN-ES, what do you think of scalping from 15 to 13

<+rickf> question for those who track volume -- do you use basic volume numbers, the b/a imbalance, or a particular indicator?

<+KN-ES> got in 7126 and now its 7071 ........... no trouble..... 50+ pts

<@NihabaAshi> Exited ER2 Long @ 740.20 --> + 0.4

<+rickf> still trying to see what works best for me on that aspect

<@NihabaAshi> I'm stying on the sidelines and will just watch for awhile

<+Splurge> 50+ points on dax?

<@NihabaAshi> Pin Ball Maching price action is not for me. 10:42

<+rickf> right now it's a combination of the MFI, volume, and b/a imbalances -- but too many things to eyebakk i think, even though it seems to be working

<+KN-ES> 58 pts to be the exact

dax is now 7067

<+Andy> rickf...what is MFI?

<+rickf> money flow indicator 10:43

<+Splurge> reckon you just bought all of it then

<+KN-ES> arround 6 in the morning

<+szubaark> Buys ES @ 1414 «« paper »»

<+Andy> I don't use any mathematically derived indicators...they were invented to mislead retail, imho

<+KN-ES> [09:47:46] <tzar> KN-ES, what do you think of scalping from 15 to 13 ................. >> this is a trending market, not very ok for scalping 10:44

i think

<+rickf> andy - i agree but they can be assistive as long as you don't use 'em only to signal things

<+dragon310> im bias to the downside...

<+rickf> ie common sense/wisdom prevails :)

<+dragon310> but with them holding er up for some reason

<+Widgetman> till TRIN < 1.2

I biased dn too 10:45

<+tzar> KN-ES, im just looking at the last 15 min on 1min chart, it goes from 15 to 13 many times

but i will take your word for it

<+KN-ES> Covered 1/4 ES Short @ 1412.50 --> + 6 10:47

h2

<+Andy> Long ES @ 1412.75 «« paper »»

<+Widgetman> what does the h2 mean ? 10:48

<+rickf> short es 1412.50 sm sz

<+tzar> holding 2

<+Widgetman> ahhh

th

now I get it

duh

hehe

<+Andy> Exited all ES Long @ 1411.75 --> - 1 «« paper »»

<+Widgetman> 40.2 my er short line

fwiw

I workin it when I can get filled 10:49

38.3 buy

but I pssin on buys

<+KN-ES> Covered 1/4 ES Short @ 1411.50 --> + 7

h 1

<+rickf> exit es 1411.50 +1 paper

<+KN-ES> we are looking at strong support 9.25 - 10.25 10:50

<+dragon310> wow should have traded ym this morning with my down bias

<+rickf> k all back in a bit

<+Widgetman> Ym weaker 10:51

all am

like I said 10:53

I passin on buys

hehe

till TRIN comes dn

<+KN-ES> Covered Remainder ES Short @ 1409.50 --> + 9

<@NihabaAshi> Shorts ER2 @ 736.80 -> small size 10:54

<+tzar> well done KN-ES

squized everything out of this

<@NihabaAshi> intuition

<+KN-ES> 1412 should be a good place to short

or 8.25

<@NihabaAshi> now a support area trying to form :( 10:55

<+Widgetman> thx KN 10:56

<+KN-ES> and 15.50 should be a good place to consider long 10:58

<@NihabaAshi> Covered ER2 Short @ 737.60 --> - 0.8

<+KN-ES> Shorts ES @ 1409.75 10:59

<@NihabaAshi> Shorts ER2 @ 737.20 -> medium size

<+KN-ES> Covered 3/4 ES Short @ 1408.75 --> + 1 11:00

<+Widgetman> my vol div triger fired on ES

fwiw

long sig

<+KN-ES> sl 11.75

add 1409.25 11:02

<@NihabaAshi> Covered all ER2 Short @ 735.80 --> + 1.4 11:04

<+KN-ES> Covered ES Short @ 1409.25 --> + 0.5

Reverse and Enter Long ES @ 1409.25

<Brutus> 05/21/2008 11:03 *DJ OIL FUTURES: Nymex Crude Breaches $132/Bbl, Falls Back

<@NihabaAshi> With this "pin ball machine" price action...not a good time to be scaling out of positions.

<+KN-ES> sl 8

<@NihabaAshi> Will be exiting all at once until things calm down.

<+KN-ES> Exited ES Long @ 1408.50 --> - 0.75 11:05

Reverse and Enter Short ES @ 1408.50

sl 11.75

Covered ES Short @ 1409.50 --> - 1 11:14

Reverse and Enter Long ES @ 1409.50

sl 7.50

Exited 1/2 ES Long @ 1410.50 --> + 1 11:16

<@NihabaAshi> If you have an offshort-account...beware !!! 11:20

http://online.wsj.com/article/SB12113246 3390508615.html?mod=pj_main_hs_coll

<+Andy> time to withdraw my 100M...never liked visiting Liechtenstein much, anyway 11:23

<@NihabaAshi> :)

<sb> time to buy my own private island

<+tzar> crap i think my name came up 11:25

<+KN-ES> Exited 1/4 ES Long @ 1412 --> + 2.5 11:26

h7 11:27

<@X> #FuturesTrades Info -> 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/FuturesTradesChat Room.htm

<+szubaark> Exited all Long ES at 1412 --> - 2 «« paper »»

Shorts ES @ 1412 «« paper »»

<+KN-ES> Exited 1/4 ES Long @ 1411.50 --> + 2 11:30

h5

<+Splurge> KN what do you mean when you post h7 or h5 etc 11:31

<+Flex> holding remaining contracts

<+KN-ES> sl 9.50 0.00

<+tzar> he holding 7 contracts

then 5

he showing how many he got left in his position

* +Splurge chokes on his cup of coffee 11:32

<+tzar> lol

<+Andy> nice entry, szu 11:35

<+KN-ES> agree

<+tzar> heh

KN-ES said 12 was good short

<+KN-ES> i was looking for 12.50

<+Flex> Long ES @ 1411

<+tzar> but i hesitated tot take it becuase KN-ES has a long 11:36

conflicting indicators = stay out

<+KN-ES> told you......someday we both will learn fom MY mistake

<+tzar> hehe

<+szubaark> thanks..should have been more patient to see what develops

<+tzar> i really got scared when i had a short at 9.50 and then you reversed to take long 11:37

i took .25 profit

and stayed out

<+dragon310> nq on the 15min chart looks like a head and shoulder forming for the past 3 days

<+KN-ES> need a break....... another 15 min .. 11:42

10.25 ...... another .75 11:43

hit and out 11:44

see u all after lunch

<+Flex> bye

<+tzar> in 15 min?

<+KN-ES> 1 hr :) .. traded almost 5 hrs

<+tzar> woah

ok 1 hour is good, i need a break as well 11:45

i wonder if KN-ES ever sleeps

and if he sleeps, does he trade in his dreams?

<+Flex> Exited all ES Long @ 1411.25 --> + 0.25 11:47

i go too, don't like this chop 11:48

l8r

<+tzar> bye Flex

* Flex is now known as Flex_away

<+rickf> back 11:59

<+tzar> wb 12:00

<+rickf> and we're right back where i left.... :| 12:01

<+Spartan> Shorts ER2 @ 738.4 -> small size «« paper »»

* codehead_afk is now known as codehead 12:07

<+dragon310> short er2 @ 738.10 12:21

<+szubaark> that last quick, sudden drop sucked all the Volatility out of this 12:25

Covered all Short ES at 1412.75 --> - 0.75 «« paper »» 12:30

Buys ES @ 1412.75 «« paper »»

<+Spartan> Covered all ER2 Short @ 739.0 --> - 0.6 «« paper »»

gotta go to work, good luck trading

<+Andy> cy Spartan

never found much percentage in taking a position in this low volatility, low volume, middle range pa 12:31

<+rickf> i'm not touching this now

<+Andy> szu has courage!

<+tzar> anyone here signed up for the netflix live service 12:34

<shortorlong> anyone using mirus/zenfire finding it down atm?

<+szubaark> Exited all Long ES at 1412 --> - 0.75 «« paper »» 12:35

Shorts ES @ 1412 «« paper »»

* Flex_away is now known as Flex

<+dragon310> i'm trying to estabish my long term bearish position in er

<+rickf> i'll be lurking quietly here for a while -- doing final read-thru of my chapter edits 12:38

<+Flex> 1419 is my res and 1406 support, and we are exactly in the middle :( 12:39

<+szubaark> almost an hour of chop crap

<MK> looks like er is leading now

<+Flex> 406 not yet touched btw 12:40

<+szubaark> Covered all Short ES at 1413 --> - 1 «« paper »» 12:41

Buys ES @ 1413 «« paper »»

<+MK> fomc minutes should be interesting

er prob go back to 743 range before retrace 12:43

<+szubaark> Volatility spike 12:45

<+dragon310> meeting is going to be release when? 1pm cent? 12:47

<+rickf> 2pm

minutes released from last meeting

<+dragon310> 2pm central or eastern?

<+rickf> east

<+MK> Shorts ER2 @ 740.5 «« paper »» 12:51

<@NihabaAshi> Be back in about 5mins...rebooting.Session Close: Wed May 21 12:56:30 2008 12:56

Session Start: Wed May 21 12:56:30 2008Session Ident: #FuturesTrades

* DisconnectedSession Close: Wed May 21 12:56:30 2008

Session Start: Wed May 21 13:17:49 2008Session Ident: #futurestrades

* Now talking in #futurestrades 13:17

<@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm

<+tzar> wb NihabaAshi 13:18

<+MK> Shorts ER2 @ 738.1 «« paper »» 13:21

<+szubaark> Exited all Long ES at 1409.25 --> - 3.75 «« paper »» 13:23

Shorts ES @ 1409.25 «« paper »»

<+MK> support here but if break...

<+szubaark> sneaky action all day 13:24

<+MK> 735-36 next

<+szubaark> that was a sneaky retrace to 1415 then quick dump 13:27

<+MK> Covered 1/3 ER2 Short @ 736.9 --> + 1.2 «« paper »» 13:30

<lumenPharmer> wtg mk, you went back for more :) 13:31

<+MK> Covered Remainder ER2 Short @ 737.1 --> + 1 «« paper »»

<+lumenPharmer> i should have held

<+MK> Long ER2 @ 737.5 «« paper »» 13:32

<@X> #FuturesTrades Info -> 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/FuturesTradesChat Room.htm 13:33

<+tzar> KN-ES you back yet? 13:34

<+szubaark> uh huh 13:37

<peterpanboy> gm to everyone 13:38

<+tzar> hi peter

<+peterpanboy> hi tzar 13:41

<+MK> Long ER2 @ 736.8 -> Add «« paper »» 13:55

Long ER2 @ 735.5 -> Add «« paper »» 13:57

<+dragon310> head and shoulder pattern on nq 15 is broken

<+Flex> ....1406 ! 13:58

and here we are 13:59

<+szubaark> dragon, can u show a chart of that

<+rickf> short es 1407 paper 14:00

<+szubaark> FOMC minutes in 1 minute, looks like market ignoring it

1400 test would be Sweet

<@NihabaAshi> Shorts ER2 @ 734.00 -> small size 14:01

<+rickf> exit 1/2 es 1405 +2 paper

h 8

<@NihabaAshi> intuition only

<+szubaark> FOMC minutes adding more rocket fuel

<@NihabaAshi> 2 contracts only 14:02

Will go to 1 contract only for the remainder of the trading day

<+rickf> exit 1/2 es 1403 +4 paper

<+MK> Long ER2 @ 733 -> Add «« paper »»

<+rickf> h 4

<+Brutus> 05/21/2008 14:01 *DJ FOMC: Housing 'Bleak,' Consumer Spending 'Slowed To A Crawl' 14:04

<@NihabaAshi> Covered ER2 Short @ 733.60 --> + 0.4 14:05

<+rickf> exit es 1403.50 +3.5 paper

<tzar2> test 14:06

<+tzar2> NihabaAshi can you kick tzar out the room

got d/c and cant use my nick 14:07

* tzar was kicked by NihabaAshi (multiple names not allowed on server)

<+tzar2> thanks

test 14:08

hmm

<+szubaark> Niha that was a quick cover

<+tzar2> i get tzar "Nickname is already in use."

<@NihabaAshi> Shorts ER2 @ 732.30 -> small size

<+KN-ES> .................finally we took out 1402

:)

<+szubaark> another Volatility spike, now a Breakout

Covered all Short ES at 1400 --> + 9.25 «« paper »»

<+Flex> it creamed both 406 and 402 now next stop 387 ? 14:09

<+KN-ES> nop

it should bounce

:)

<+tzar2> KN-ES you taking a long?

<+KN-ES> Long ES @ 1399.75 14:10

<+Flex> maybe a stop buy 404 or 408 something ?

<+KN-ES> high risk trade

<@NihabaAshi> Covered ER2 Short @ 732.20 --> + 0.1

<+KN-ES> sm sz

sl 1.75

<@NihabaAshi> too fast for me this pin ball machine price action

will sit on the sidelines and just watch

<+MK> Long ER2 @ 731.5 -> Add «« paper »» 14:11

<+KN-ES> Long ES @ 1399.50

add

<+szubaark> limit to enter long ES @ 1397 «« paper »» 14:13

<+Brutus> 05/21/2008 14:05 *DJ US Stocks Slide; Fed Signals No More Rate Cuts

<+dragon310> no more rate cut?? no!!! 14:14

<+KN-ES> Exited 3/4 ES Long @ 1400.50 --> + 1

<+dragon310> bad for wall street good for my long term short play on nq and er

did anyone catch that 15min head and shoulder on nq i posted awareness back 2 hourst ago/ 14:15

<@NihabaAshi> Shorts ER2 @ 731.40 -> small size

geeesh 14:19

<+tzar2> this cant be good for economy

<@NihabaAshi> Big Dark WRB

Covered ER2 Short @ 727.80 --> + 3.6 14:20

<+rickf> vn niha

<+KN-ES> i thought we are done thinking about economy long time ago

<+tzar2> heh

<+Flex> Long ES @ 1397 14:21

<+tzar2> some people still call

<+dragon310> covered half of nq short --> +40

<+KN-ES> nice

<+szubaark> Buys ES @ 1397 «« paper »»

<+dragon310> still have my er riding

<+KN-ES> Dax is 7016

<+rickf> that was a nice little es run

<+Flex> Exited all ES Long @ 1398 --> + 1 14:22

<+MK> Long ER2 @ 727.7 -> Add «« paper »»

<+tzar2> vn Flex

<+Flex> thx 14:23

Kn you still in ? 14:24

not sure if this 97 supp will hold 14:25

87 stronger

<+KN-ES> [13:17:11] <KN-ES> sl 1.75 14:26

<+Flex> wasn't SL from entry @1399.75 ?

<+Brutus> 05/21/2008 14:25 *DJ OIL FUTURES: Nymex Crude Hits $133/Bbl

<+KN-ES> yes

<+Flex> ok thanks 14:27

<+MK> Long ER2 @ 727.1 -> Add «« paper »»

<+Widgetman> up cycle ES 14:28

fwiw

I hid my long btn today

TRIN too hi

726 due er 14:29

div long sig ES 4M fwiw 14:32

* tzar2 is now known as tzar 14:33

<+tzar> KN-ES what do you think about the market 14:35

<+dragon310> market just changed direction tzar 14:37

<+tzar> still going down 14:38

<+MK> Long ER2 @ 725 -> Add «« paper »»

<+tzar> now lots of green prints

<+KN-ES> stil think it will close 1402 +-

<+MK> Long ER2 @ 726 -> Add «« paper »» 14:39

<+KN-ES> dax is 7015 14:40

thats a good news :)

<+dragon310> er doesn't trend well 14:45

if we keep selling toward the close es is going to close near low 1370s 14:46

<+Flex> 87 strong support, old struggling area from prev. weeks

all IMO of course

below 360 and bull market is done for a while I think 14:47

<+MK> Long ER2 @ 723.2 «« paper »» 14:50

<+dragon310> long er 724.2 14:57

<pdays> Long ER2 @ 724.8

<+dragon310> im disappointed in zn 15:02

<@NihabaAshi> ZN gave it a good try but couldn't keep the volatility on that price surge...it then retraced. 15:05

<+dragon310> exit er2 726.6 --> +2.2

short er2 726.6

tight stop here see if it continue 15:06

<+tzar> NihabaAshi who is ZN?

<+dragon310> 10 year note

takes alot of money to move those notes and bonds 15:07

<+szubaark> Oil at 133+ 15:08

<+KN-ES> only problem is this is us seesion 15:10

zn or zb, 10 or 30 yrs notes are mostly own by other countries 15:11

<+dragon310> covered er 727 -04 15:12

<+KN-ES> and manjrity of the money their are more or less economic event based

so, for a very short term trend, its often confusing......... 15:13

there........ 15:14

<+tzar> KN-ES did you asemble your computer? 15:15

<+KN-ES> still working with the design 15:16

will take some time

<+tzar> what do you mean design

making a custom case?

<+Flex> is it silent ?

<+KN-ES> yes

problem with the cooling

<+Flex> I used a Lian Li V2000-II, great case 15:17

Noctua fans

<+KN-ES> i am talking to dell to see if i can use there server as a barebone

<@NihabaAshi> Shorts ER2 @ 729.30 -> small size 15:18

<+KN-ES> will save me lots of time

and energy

<@NihabaAshi> 1 only and another intuition trade

<+Flex> Noctua cooler and Zalman multi fan regulator, I can barely hear it only because of hard disks 15:19

lol that's a great idea

<+tzar> i wonder what KN-ES is going to do with 64 gig of ram

<+Flex> do you mean a 19" rack, slim line server ?

<@NihabaAshi> Covered ER2 Short @ 729.90 --> - 0.6 15:20

Long ER2 @ 730.10 -> small size 15:21

<+dragon310> short er @ 730

<+tzar> dragon you still short? 15:25

<+dragon310> yea with an 8 tick stop 15:26

just 2 contract

<+tzar> i never tried ER, i want to though

<+dragon310> er keep wanting to go up but the other index don't

<+tzar> is this a normal range for ER.. about 20 points? 15:27

<+dragon310> ill take what ever it gives me

<@NihabaAshi> Exited ER2 Long @ 728.50 --> - 1.6 15:28

Reverse and Enter Short ER2 @ 728.50

Covered ER2 Short @ 729.00 --> - 0.5 15:30

<+szubaark> :(

easy to get shaken out today 15:31

<+dragon310> er stubborn 15:32

<@NihabaAshi> Long ER2 @ 728.50 -> small size

<+tzar> dragon310 what is your target on ER 15:33

<+dragon310> im going to get stop pout soon 15:34

my target was for the lows

<+tzar> 723's?

<+dragon310> yea somewhere aeroun there but it doesn't seem like it anymore

<+szubaark> expecting Volatility spike soon, hopefully to upside, Im Long 15:35

<@X> #FuturesTrades Info -> 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/FuturesTradesChat Room.htm 15:36

<@NihabaAshi> Exited ER2 Long @ 729.10 --> + 0.6

<+szubaark> Exited all Long ES at 1395 --> - 2 «« paper »»

Shorts ES @ 1395 «« paper »»

<+dragon310> er needs to catch up to the rest of the crowd... down only -9 points from the open? 15:38

<+szubaark> not much time left in the day, needs to start moving soon or im Out 15:39

<+dragon310> moving stop to 729.80

<+szubaark> Covered all Short ES at 1391 --> + 4 «« paper »» 15:42

<+pdays> Exited all ER2 Long @ 725.5 --> + 0.7

<+KN-ES> nice trades

<+tzar> KN-ES do you thnk we break 90 today? 15:43

<+szubaark> congestion areas were real choppy today, toug to hold on to trades, get whacked there a few times

<@NihabaAshi> Shorts ER2 @ 726.30 -> small size

1 contract only and intuition only 15:44

Covered ER2 Short @ 725.90 --> + 0.4 15:45

<+dragon310> closed er long --> +3 15:46

close er short i mean

<+szubaark> :)

<+dragon310> not much time left

<@NihabaAshi> Long ER2 @ 727.90 -> small size 15:47

<+szubaark> Niha, intuition?

<+tzar> pressing the buy/sell button with eyes closed

<@NihabaAshi> Just trying to ride the volatility within some key price areas 15:48

<+MK> Exited all ER2 Long @ 728.1 --> + 7 «« paper »» 15:49

<@NihabaAshi> Exited ER2 Long @ 728.00 --> + 0.1

Long ER2 @ 727.80 -> small size 15:51

4pm est rush hour traffic jam starting to get trickier 15:53

Exited ER2 Long @ 727.20 --> - 0.6

Shorts ER2 @ 726.30 -> small size 15:54

<+Flex> c'mon 87... 15:55

<@NihabaAshi> Covered ER2 Short @ 726.20 --> + 0.1 15:57

geeesh

On the wrong side of that volatility spike into 4pm :( 15:58

Long ER2 @ 726.60 -> small size

<+dragon310> im done for today 16:00

<@NihabaAshi> Pin Ball Machine price action

<+Flex> KN you still there ?

<@NihabaAshi> Exited ER2 Long @ 727.10 --> + 0.5 16:01

<+Flex> harsh session today, but definitely not boring :)

<+rickf> as long as we make our $ 16:02

<+szubaark> Yes, very Brutal Price Action

<+tzar> i liked it

<@NihabaAshi> Didn't catch any big WRB pt trades this afternoon but the morning profits was still great.

Take care all and see all tomorrow

<+rickf> cya

<+tzar> NihabaAshi you still green for the day?

<@NihabaAshi> Yep

<+Splurge> nite

<+szubaark> my best trades came at end of day

<+tzar> thats great 16:03

cya tomorrow

<+rickf> did ok early morning and the fomc trade at 2 -- quite happy today

<+Flex> see ya

<+Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={7bfe3 0aa-541b-4546-94c6-e26b7c3e05bd}

<+peterpanboy> see ya tomorrow

<+BigDawg291> you all have any forex plays you are looking at? 16:05

<+Flex> eurusd

<+rickf> long euro

<+Flex> same

<+rickf> up nicely today

<+BigDawg291> you all still holding?

<+rickf> closed out a bunch this morning but didnt post here

my second trade today yeah 16:06

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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)

<+Flex> yes because I am always long euro to hedge my USD portfolio which is losing value month after month

then, apart from that, I try few smaller trades here and there

<+rickf> also long the cdn loonie via futures fx -- still in that pos

<+BigDawg291> you all need to start posting these things lol 16:07

I like trading forex but didnt think you all played it much

<+rickf> :)

<+tzar> go loonie go!

<+rickf> i only do it on a whim - not really watching it like the ES, and it's a swing trade for me

<+Flex> BigDawn I think eur will make new highs. I post when I make a shorter term trade but obviously I don't post my long hedge position

<+BigDawg291> i do it swing wise to rick 16:08

<+Flex> hedge pos never changes day after day

<+rickf> ok

<+BigDawg291> ok flex well i guess my idea is not good here, I was actually thinking of shorting the GBP/USD and/or EUR/USD here

<+rickf> BD - I am long the loonie from .9994 4 futures contracts

<+Flex> USD is due for a retracement but only a retracement, so you are going agaisnt the larger trend 16:09

<+BigDawg291> ok will check it out

<+Flex> I would rather wait for that retracement(correction) and then seek for a long eur or gbp entry

<+BigDawg291> ok 16:10

<+rickf> exited my eur/usd position @ 1.57884 +45 pips 16:12

<+Flex> nice

* sep34 is now known as sep34_away

<+BigDawg291> very nice rick

next time post lol

<+rickf> (not 450 pips)

lol

yeah will do

<+BigDawg291> what do you use as normal stops on your forex trades, specifically USD pairs

<+rickf> actually, if the trend is intact, i'll let it go w/o stops and eyeball it 16:13

seen 1-2K swings in the blink of an eye and then recover and pop much higher 16:14

after getting topped out a few times and seeing that, i took a more liberal approach

<+BigDawg291> dang

yeah

<+rickf> eg --

<+Flex> I also suggest to use stops with care in FX, or you get whipsawed

<+rickf> indeed 16:15

<+BigDawg291> yeah there are alot of whipsaws in forex

<+Flex> use adequate pos size and give it room until trend is good for you

<+rickf> flex - yep

<+Flex> I also use to average down, I enter new positions during i.e. a couple days 16:16

<+BigDawg291> ok

<+Flex> gn all 16:18

<+rickf> gn flx

<+Splurge> nite all

* Flex is now known as Flex_away 16:19

<+rickf> BD - i papertraded some crude yesterday out of curiosity. scary how fast that stuff moves!

<+BigDawg291> yeah i bet, how do you even trade it, futures? 16:20

arent they extremely high priced

<+rickf> yeah papertraded virtual oil futures

margin is big yep

<+BigDawg291> thst what i thought

<+rickf> defiantely scared to trade that for real --- same w/nat gas 16:21

you blink and you might bet a margin call :)

<+BigDawg291> yeah to say the least

<+rickf> crude contract has almost 13K initial margin 16:23

yow

<+BigDawg291> dang

more than my account lol 16:24

<+rickf> tho today it would've been a 36pct return on margin if it was real

<+BigDawg291> dang

that would be nice

<+rickf> it's like a friend is trading gold futures (for real) and i said what about the etf everyone's pitching on TV.... 16:25

he's had 8 gold future contracts for a few days

5K initial margin

he's almost done 100% return on margin 16:26

<+BigDawg291> dang

<+rickf> compared to the gold ETF that's only up $350 during the same time

<+BigDawg291> yeah i have traded the gold etf but not the futures

yeah

* NihabaAshi is now known as NihabaAshi_away 16:29

<+rickf> ok all -- i am off for the night. have a good one all, see you tomorrow 16:38

<@X> #FuturesTrades Info -> 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/FuturesTradesChat Room.htm 17:42

<jsbach> anyone here?Session Close: Wed May 21 23:09:50 2008 22:24

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In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:

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CME Futures EuroFX EC

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