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#FuturesTrades May 22nd Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+17.20	+202.00	+1333.20
$1,720	$20,200	$133,320

click on image to view actual size

Current Performance Record

Commodity Trader's Almanac 2007

Profit/Loss Statement

Today's WRB Analysis: Many traders are unable to trade profitably in flat or choppy market conditions. In addition, they are looking for clues that the market will be flat or choppy so that they can avoid (sit on the sidelines) these types of price action.

Wide Range Bodies, also known as WRB's, provide a wealth of information about flat or choppy market conditions.

For example, if there are no WRB's, the market is flat and will continue to be flat until WRB's appear.

Also, if there are WRB's and they quickly retrace each other, the market is choppy and will continue to be choppy until WRB's stop retracing each other's price action.

Regardless if its flat or choppy, things usually get interesting when WRB's form pattern signals within the s/r zone of a prior WRB with pattern signal.

Take a look at the 2min chart of the Russell 2000 Emini ER2 futures and there's a pattern signal involving a Dark WRB @ 0954am and 1158am est with the 1158am est pattern signal appearing within the s/r zone of the 0954am est pattern signal.

If you don't know the basics of a WRB and want to learn a little more...click here.

Note: I don't post charts because I want you to open your own charts to correlate my comments to your charts so that familiarity will help ensure that the price action being described by me is researched and that in itself will help you understand a little more about the price action.

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: Tue May 22 09:29:01 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:29

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

<jperl> ER2 VWAP congestion zones here....

http://charts.dacharts.com/2007-05-22/JP ERL_0119.png

<base> Good morning 09:30

<PapaJon> gm all 09:32

<NihabaAshi> Long ER2 @ 836.20 -> large size 09:33

<eminitrader> Shorts ES @ 1529.25 09:34

<NihabaAshi> :( 09:36

Volatility dropping fast...unusual :(

Exited 2/3 ER2 Long @ 836.50 --> + 0.3 09:38

<eminitrader> Covered 1/3 ES Short @ 1528.25 --> + 1

<NihabaAshi> Exited ER2 Long @ 835.40 --> - 0.8 09:39

Reverse and Enter Short ER2 @ 835.40

<jperl> ER2 peak volume 836.60 09:40

overnight HOD 837.50, LOD 833.90 09:42

<pat255> ty jper & gm all

@office :(

<jperl> yw

<eminitrader> Shorts ES @ 1528.75 -> Add

<NihabaAshi> Shorts ER2 @ 836.10 -> Add 09:43

<eminitrader> Covered 1/3 ES Short @ 1527.75 --> + 1

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> Be careful...low volatilty that's still declining equals a lot of chop.

<eminitrader> very true 09:44

<NihabaAshi> It's searching for my stop :(

<eminitrader> looks like nq is holding the ym and es

Covered 1/3 ES Short @ 1528.25 --> + 1 09:45

<les> Shorts ER2 @ 836.4

<szubaark> Shorts ES @ 1528 «« paper »» 09:46

<les> Covered 1/2 ER2 Short @ 835.4 --> + 1

<NihabaAshi> Covered 1/2 ER2 Short @ 835.60 --> + 0.5 09:47

<szubaark> Covered all Short ES at 1526.50 --> + 1.5 «« paper »» 09:50

<jperl> ER2 @ yesterdays VWAP 833.57

<eminitrader> Covered 1/3 ES Short @ 1526.25 --> + 3

holding 2

<NihabaAshi> I got some data problems...looking to dump this before my profit target :( 09:51

<eminitrader> ..expecting gap fill 1516 area in the ES

<NihabaAshi> Covered Remainder ER2 Short @ 833.80 --> + 1.6

<szubaark> emini gap from 5/18?

<eminitrader> yes szu 09:52

* NihabaAshi is now known as NihabaAshi_away

<jperl> ER2 took the bounce off yesterdays VWAP 09:54

<les> Covered Remainder ER2 Short @ 834.9 --> + 1.5 09:56

<pat255> vn les .. 09:57

* NihabaAshi_away is now known as NihabaAshi 09:58

<les> thx pat

<NihabaAshi> Long ER2 @ 835.00 -> small size

:(

Geeesh...

I'm going to do a reboot after I close this position. 09:59

Exited all ER2 Long @ 835.10 --> + 0.1

Kind'uv hard to trade when charts go blank as soon as I enter a trade for the last two trades. 10:00

Be back in a few minutes.

<eminitrader> Shorts ES @ 1529 -> Add 10:02

<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)

* DisconnectedSession Close: Tue May 22 10:03:04 2007 10:03

Session Start: Tue May 22 10:20:25 2007Session Ident: #futurestrades

* Now talking in #futurestrades 10:20

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

<pat255> nice guys em les

<eminitrader> holding 3

thx pat 10:21

<les> Covered Remainder ER2 Short @ 835.3 --> + 1

thx

<szubaark> nice emini

<eminitrader> thx szu

<les> Long ER2 @ 836.1 10:25

<eminitrader> exit stop moved to breakeven ES @ 1529

<jperl> ER2 VWAP= Peak VOLume = 836.1 10:26

<NihabaAshi> Long ER2 @ 836.80 -> small size

<les> Exited all ER2 Long @ 837.1 --> + 1

<Brutus> Covered 1/4 ER2 Short @ 836.4 --> + 1 «« paper »» 10:27

Covered all ER2 Short @ 836.7 --> + 0.7 «« paper »» 10:28

<eminitrader> Covered Remainder ES Short @ 1529 --> + 0.25 10:30

<NihabaAshi> Exited all ER2 Long @ 838.00 --> + 1.2

Amazing what can happen when you can see your charts :)

<pat255> lol 10:31

<intowin> shorts es 1529 swing to 1520 stop 1533 10:34

<NihabaAshi> Shorts ER2 @ 837.30 -> small size

<les> Shorts ER2 @ 837.3 10:35

<NihabaAshi> Shorts ER2 @ 838.10 -> Add 10:37

<szubaark> exit stop set ES @ 1529.75 «« paper »»

<NihabaAshi> High risk add for me. 10:38

Especially considering I have a Bullish bias.

<les> must brk 36.8 for the short to work here 10:39

<jperl> ER2 peak volume now 836.90 10:40

<NihabaAshi> Covered 1/2 ER2 Short @ 837.10 --> + 1

<les> Covered all ER2 Short @ 838.1 --> - 0.8 10:43

<NihabaAshi> Shorts ER2 @ 838.10 -> Add

<Brutus> Downside wolfe wave on the ER 10:46

http://www.elitetrader.com/vb/attachment .php?s=&postid=1308626 10:48

<NihabaAshi> Covered remainder ER2 Short @ 837.10 -> +1.00 and +0.20 10:49

<Brutus> pic is a bullish WW 10:50

<eminitrader> is that a triple top or double bottom ?

<Brutus> trend line hits 3 tops

<Brutus> on the ER today

<eminitrader> k...so if it breaks then bullish ?

<Brutus> yes TL becomes stop area 10:52

<eminitrader> k thxB

<Brutus> etend point 1 to 4 for target

<eminitrader> gotcha 10:53

<pat255> vn

<NihabaAshi> I got my profit target of the day.

However, I'm going to take a break from trading to do some personal stuff due to the fact my trade management on that trade was very poor especially since it was a "frustration trade" after missing two good trades when I had to reboot to correct some data problems. 10:56

Will be trading with 1-2 contracts for the remainder of the day when I return this afternoon. 10:57

* NihabaAshi is now known as NihabaAshi_away

<jperl> ER2 VWAP 836.40, Peak Volume 836.90 11:05

<Brutus> ES - 5min triangle for BO 11:09

<Fleneer> ES triangle yes. 11:14

symetrical and prior move was down so that favors the downsiude.

short 27.75 paper trading.

<les> watch for s/runners on the triangle

er2 11:15

<Fleneer> --- ALL MY POSTS are INFOMATION ONLY --- ALL MY TRADES are PAPER TRADES ---

support at 27.00 first target needs to go bye bye 11:16

<grabthemoney55> gm 11:18

<Fleneer> stopped out BE 11:25

<intowin> covered es short at 1525.75 up 3.25 woulda stayed for more but gotta go 11:56

<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) 12:05

<pat255> c u all later ty 12:20

<szubaark> Covered all Short ES at 1529.75 --> - 2.5 «« paper »» 12:54

Shorts ES @ 1530.25 «« paper »» 12:57

<Brutus> Shorts ER2 @ 839 «« paper »» 12:59

Covered all ER2 Short @ 838.2 --> + 0.8 «« paper »» 13:00

doing some paper scalps 2 contracts, stop is .5 from entry, 1st target .5 13:02

Shorts ER2 @ 838.8 «« paper »» 13:08

Covered all ER2 Short @ 839.2 --> - 0.4 «« paper »»

* codehead_afk is now known as codehead 13:29

* NihabaAshi_away is now known as NihabaAshi 13:36

<szubaark> Covered all Short ES at 1531 --> - 0.75 «« paper »» 13:37

* szubaark is now known as szubaark_away

<BoyBrutus> test 13:39

<NihabaAshi> Since I mixed a key price movement... 13:49

I'll be only "simulator trading" this afternoon with 1 - 2 contracts and testing a new method. 13:50

<werner> aha, is it in the green trade niha? 13:52

WRB Analysis

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<NihabaAshi> Green trade ?

<werner> a + trade 13:53

<NihabaAshi> werner...see pm

<werner> ok

<pdays> Shorts YM @ 13614 13:55

<jperl> ER2 @ 3rd StdDev 842.53 14:05

<RussellDaytrade> sure feels like it. 14:06

<jperl> 3rd StdDEv of yesterday @ 844.55 14:08

<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) 14:11

<NihabaAshi> I just read the chat log...looks like nobody is buying into this price movement since 12noon est 14:12

That's an 8 point price movement :( 14:13

<eminitrader> i'm not going long untill 1534 - yest high is taken out niha

had a long set-up ...but was just not confident 14:14

<NihabaAshi> Ahh...ok.

<eminitrader> and did.nt want to give any back...guess its the long wkend...but just dont want to be very agressive this wk 14:15

last wk of the month too....wld hate giving back :)

my month ends last friday of the month ...so 14:16

<NihabaAshi> Reminder -> I'll be on vacation all of next week to entertain relatives from the U.S. but I will be recording the chat log as usual along with answering emails as usual. 14:19

Long ER2 @ 841.60 -> small size «« simulator »» 14:25

<jperl> congestion areas now...... 14:26

http://charts.dacharts.com/2007-05-22/JP ERL_0121.png

<NihabaAshi> Exited all ER2 Long @ 842.10 --> + 0.5 «« simulator »» 14:33

Holding 1 contract

<eminitrader> Shorts ES @ 1532.50

<pdays> Covered all YM Short @ 13610 --> + 4 14:37

<eminitrader> Covered 1/2 ES Short @ 1530.50 --> + 2 14:39

<NihabaAshi> ER2 testing a key s/r zone right now.

Long ER2 @ 841.40 -> Add «« simulator »» 14:40

Exited 1/2 ER2 Long @ 841.80 --> + 0.4 «« simulator »» 14:41

Holding 1 contract

Exited Remainder ER2 Long @ 841.70 --> + 0.1 «« simulator »» 14:42

That big WRB drop wasn't part of the plan :)

Yet, my safety net was the key s/r zone aourng the 841.20 price area. 14:43

<jperl> yesterdays 2nd STdDev 840.91 14:44

1 month 2nd StdDev 840.75

1 wk 3rd STdDev 841.87 14:45

lots of congestion in here

<eminitrader> be back 14:53

exit stop lowered ES @ 1531.75 15:04

Covered Remainder ES Short @ 1531.75 --> + 0.75 15:07

Shorts ES @ 1531 15:12

Covered 1/2 ES Short @ 1529 --> + 2 15:18

<jperl> todays trades..... 15:20

http://charts.dacharts.com/2007-05-22/JP ERL_0122.png

<eminitrader> Covered 1/3 ES Short @ 1529.50 --> + 1.5 15:23

Covered Remainder ES Short @ 1527 --> + 4 15:57

<werner> gn all 16:06

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

<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) 16:17

* DisconnectedSession Close: Tue May 22 16:19:20 2007 16:19

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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

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CME Futures EuroFX EC

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Forex Currencies EurUsd, EurYen and UsdCdn

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