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#FuturesTrades May 23rd Wednesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+23.10	+225.10	+1356.30
$2,310	$22,510	$135,630

click on image to view actual size

Current Performance Record

Advanced Swing Trading

Profit/Loss Statement

Today's WRB Analysis: Sometimes the key WRB is generated via reaction to geopolitical event, key economic report release or a key speech that's being monitored by Wall Street.

Today the former FED Chairman Greenspan made some bearish commentary about China and the U.S. economy in a teleconference speech in Madrid, Spain around 2pm est even though the market had started anticipating his speech about 25mins earlier.

That price action "anticipation" to Greenspan speech is visible by the low volatility or small trading range as it slowly drifted into the key Dark WRB formation @ 2pm est via the 3min chart interval.

As for my own trading, the chat log below shows that I increased my position size to large to fully exploit that price reaction before 2pm est along with trading with some size in the following trade after 2pm est.

Today is an excellent example of understanding the price action prior to the formation of any pattern signals.

This type of trading allows you to grow as a trader, gain valuable trading experience and develop your intuition reaction to the markets...this is the stuff traders talk about when they say that trading can't be taught...it must be learned.

In comparison, anybody can be taught what a pattern signal is and it trade management rules especially if it has a positive expectancy.

Note: I don't post charts to reflect all the above commentary because I want you to open your own charts to correlate with my comments 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: Wed May 23 09:28:49 2007Session 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

<eminitrader> Shorts ES @ 1530.25 09:30

<pat255> gm all.. 09:32

with u em on es..

<base> gm

<jperl> there was the bounce ....did you get it?

<eminitrader> have a 4 tick stop pat...fyi

<pat255> k...thks 09:33

right stop ..u cant let it get away..

<eminitrader> yep ...

Covered all ES Short @ 1531.25 --> - 1 09:35

<NihabaAshi> Long ER2 @ 842.90 -> small size

2 contracts only due to my late entry. 09:36

<szubaark> Shorts ES @ 1530.25 «« paper »»

<eminitrader> Shorts ES @ 1530.75

<NihabaAshi> Exited ER2 Long @ 841.10 --> - 1.8

Reverse and Enter Short ER2 @ 841.10

I'm now within an s/r zone... 09:37

<eminitrader> suckers got me the first time :(

<NihabaAshi> I won't hold this trade too long because of this type of s/r zone.

<jperl> ER2 previous close 840.40

overnight LOD 840.00

<NihabaAshi> Covered all ER2 Short @ 840.90 --> + 0.2 09:38

I think Bernanke is speaking right now. 09:39

<jperl> peak volume 841.80 09:40

<NihabaAshi> Sorry...meant Treasury Secretary Henry Paulson

<ItalianSharp> niha, bernanke is set to participate in the meeting with chinese reps 09:41

<NihabaAshi> Ok...thanks.

<szubaark> Covered all Short ES at 1529 --> + 1.25 «« paper »»

<eminitrader> Covered 1/3 ES Short @ 1529.25 --> + 1.5

<jperl> 2 bounces off yesterdays close

<NihabaAshi> Long ER2 @ 841.20 -> medium size

<les> Long ER2 @ 841.5 09:42

Exited all ER2 Long @ 842.4 --> + 0.9 09:44

<jperl> bounce off the open

<eminitrader> Shorts ES @ 1530.50 -> Add 09:45

<NihabaAshi> This price action...weird chop is related to whomever is speaking right now for the FED in China :( 09:46

<eminitrader> no chop in the es ...nice moves niha 09:47

<NihabaAshi> Doesn't look like I'll get a WRB exit...

Looking to dump most of my position

Exited 2/3 ER2 Long @ 842.20 --> + 1 09:48

Exited Remainder ER2 Long @ 841.60 --> + 0.4 09:49

Punks...now the s/r zone kicks in when I'm out of the trade :(

<jperl> ER2 peak volume now @ 842.30 09:50

<les> Long ER2 @ 842.5

<eminitrader> Shorts ES @ 1531.50 -> Add

<werner> gm all

<les> Exited all ER2 Long @ 842.7 --> + 0.2

wrong post 09:51

Exited all ER2 Long @ 843 --> + 0.5

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> Will just sit here and watch because ER2 is "too nervous" via whatever is occurring in China with our FED guys there.

<jperl> bounce off 1 week 2nd STdDev 842.92 09:52

<AmazingJason> Long ES @ 842.40

<jperl> overnight HOD @843.70

<szubaark> Shorts ES @ 1531.25 «« paper »» 09:54

<les> Long ER2 @ 843.1

<jperl> ER@ @ HOD 09:55

<AmazingJason> Exited 1/2 ES Long @ 844.20 --> + 1.8

<les> Exited all ER2 Long @ 844.1 --> + 1

<eminitrader> Covered all ES Short @ 1532.25 --> - 2.25 09:56

<AmazingJason> Exited 1/4 ES Long @ 844.70 --> + 2.3

<eminitrader> nice AJ

<les> that exit was 1/2 the position 09:57

<jperl> ER2 @ yesterdays VWAP 2nd STdDEv 844.14

<eminitrader> good one les

<les> thx em

<intowin> boy my 1534 stop is getting close

<AmazingJason> Exited Remainder ES Long @ 844.20 --> + 1.8

<eminitrader> if 1534 is taken out ...i wld look for longs intowin 09:58

<intowin> no doubt

I say in the meantime we send negative vibs that way

<NihabaAshi> Long ER2 @ 844.30 -> small size

<eminitrader> Shorts ES @ 1533 09:59

<intowin> there you go

<eminitrader> stop ust above 1534 :)

<AmazingJason> wow market is a powerhouse 10:02

<eminitrader> :(

<les> Exited Remainder ER2 Long @ 846 --> + 2.9

<szubaark> Covered all Short ES at 1533.75 --> - 2.5 «« paper »»

<jperl> next pause @ 846.80

<les> nice 2nd leg

<pat255> gutsy call niha

<NihabaAshi> Exited all ER2 Long @ 846.00 --> + 1.7

<intowin> took stop to 34.25 but dont think it will matter

filled 10:03

<eminitrader> Covered all ES Short @ 1534.50 --> - 1.5

<NihabaAshi> Geeesh...talk about a bronco...

<jperl> ER2 @ 846.80, 3rd STdDEv of yesterdays VWAP

<intowin> -3 on that one

<eminitrader> wow...what a move

<NihabaAshi> Felt like I was on a bull and it shook me off pretty good :)

<eminitrader> nice one u longs :)) 10:04

down more than 1k...have a busy day now

<les> damn doorbell

<intowin> me u same boat emini

I was short pre market

<les> got in just before.. here's the entry

<szubaark> im down also :((

<les> Long ER2 @ 846.3

<pat255> :(

<eminitrader> not to worry szu...at least the swing so far is clear 10:05

<szubaark> this upmove happened so fast, they might not even give pullback to get in, just Chop now LOL 10:06

<jperl> Next pause @ 848.53, 3rd STdDev of 1 month VWAP

<eminitrader> time to go long us shorts ...

<intowin> I lost my shorts litterally

<eminitrader> lol

<NihabaAshi> werner...see pm I just sent you. 10:07

<les> Exited all ER2 Long @ 846.4 --> + 0.1

-> [werner] PING

<NihabaAshi> I can't do anything until volatility dries up again so I can determine if I should go Long or Short. 10:09

Simply, back on the sidelines and just watching.

Shorts ER2 @ 846.30 -> small size 10:10

Covered all ER2 Short @ 845.90 --> + 0.4 10:12

<eminitrader> Shorts ES @ 1534

<NihabaAshi> Need to plan my next trade from entry to exit because it could allow me to get my profit goal for the day. 10:14

I would have my target for the day if it wasn't for the "sucker punch" I got on the first trade of the day :( 10:16

<intowin> just doesnt want to pull back 10:19

<eminitrader> yep

nq had a nice retrace ...nothing in ym and es ..so far

<werner> niha how many years are you trading the markets?

<pat255> em u will look for L ines? 10:20

<eminitrader> have no idea of L lines pat ..sorry

<pat255> L in ES...sorry

<les> Shorts ER2 @ 845.8

<eminitrader> what is L 10:21

<pat255> L long S short

<eminitrader> k sorry ...u taking long trades

yes ..betn 1531.50 and 1533 10:22

<pat255> kty

<les> Covered all ER2 Short @ 845.6 --> + 0.2 10:23

<eminitrader> Covered ES Short @ 1533 --> + 1 10:25

Reverse and Enter Long ES @ 1533

<les> here comes the 2B 10:26

<eminitrader> Exited 1/2 ES Long @ 1533.50 --> + 0.5 10:27

<les> 2T i mean

<jperl> ER2 peak volume now 846.20

VWAP 844.00

<eminitrader> Exited Remainder ES Long @ 1534 --> + 1 10:30

<szubaark> Buys ES @ 1534.25 «« paper »» 10:31

<pat255> vn

<jperl> this mornings trades.... 10:32

http://charts.dacharts.com/2007-05-23/JP ERL_012.png

<eminitrader> Long ES @ 1533.50 10:33

Exited all ES Long @ 1533.50 --> 0 10:34

Long ES @ 1533.50 10:35

shld have retest the hod by now :( 10:36

<szubaark> this upmove happened so fast, could just CHOP now :(( 10:37

<eminitrader> maybe szu ...

Exited all ES Long @ 1533.50 --> 0 10:38

nice patience szu ... 10:43

<szubaark> needs to bust thru Resistance here 10:46

<les> Shorts ER2 @ 846.7 10:50

<szubaark> exit stop set ES @ 1534.25 «« paper »» 10:52

Exited all Long ES at 1534.25 --> 0 «« paper »» 10:53

Shorts ES @ 1534 «« paper »»

<eminitrader> Shorts ES @ 1534.50 10:56

<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) 11:02

<eminitrader> Covered ES Short @ 1535 --> - 0.5 11:09

Reverse and Enter Long ES @ 1535

Shorts ES @ 1534.25 11:10

<szubaark> fakeout

<eminitrader> thats a revesr... _0.75 11:11

<les> Covered all ER2 Short @ 846.7 --> 0 11:13

oops

Covered all ER2 Short @ 845.7 --> + 1

<eminitrader> Covered all ES Short @ 1532.75 --> + 1.5 11:14

Long ES @ 1532.50 11:16

<NihabaAshi> Long ER2 @ 845.70 -> small size

I don't like my entry in this trade...looking to bail. 11:17

<eminitrader> Exited all ES Long @ 1533 --> + 0.5 11:18

<NihabaAshi> Exited all ER2 Long @ 845.80 --> + 0.1

<jperl> ER2 @ VWAP 844.88 11:19

peak volume @ 846.60

<szubaark> Covered all Short ES at 1533 --> + 1 «« paper »» 11:21

<les> Shorts ER2 @ 454.5

<eminitrader> Long ES @ 1532.75 11:22

Exited 1/2 ES Long @ 1533.25 --> + 0.5 11:23

Exited Remainder ES Long @ 1533.50 --> + 0.75 11:27

<intowin> I followed you on a few of your calls emini. I am back to par on the day.. May quit while I am ahead 11:29

<NihabaAshi> ER2 getting no confirmation for the small counter-thrust back up during the last 5 ticks.

<eminitrader> good for you :))...ineed another 2 ticks and i'll be back to square one 11:30

<jperl> peak volume ER2 now 845.60

VWAP @ 844.91

<intowin> not bad after the disaster this morn

<eminitrader> we still have to pm session to make up for :))

<intowin> think we chop a while 11:31

<NihabaAshi> Shorts ER2 @ 845.20 -> small size

<eminitrader> Long ES @ 1352.50 11:32

only 3 filled on 5 :(

k got 5 11:33

<NihabaAshi> No volatility on the drop so far...hopefully it shows up soon or my trade will be in trouble...

volatility now drying up in ER2...expecting a volatility spike here soon. 11:36

Preparing to reverse if needed.

<les> niha.. 11:37

i jst noticed the wrb @ 11:30

may close t its gap first before moving down

<eminitrader> Exited 2/3 ES Long @ 1533.25 --> + 180.75

<NihabaAshi> Covered ER2 Short @ 845.50 --> - 0.3 11:38

Reverse and Enter Long ER2 @ 845.50

<eminitrader> oops

repost

<les> just did that now

<eminitrader> Long ES @ 1532.50

Exited 2/3 ES Long @ 1533.25 --> + 0.75

more like it

holding 2..

<NihabaAshi> Les...its a WRB that occurred after a volatility that was flat (not declining)... 11:39

very tricky.

<les> Covered all ER2 Short @ 845.4 --> - 390.9

oops

Covered all ER2 Short @ 845.4 --> - 390.9 11:40

<eminitrader> :)) same here

<les> oh boy

i posted the entry wrong

<eminitrader> Exited Remainder ES Long @ 1532.50 --> 0

<les> anyway exit for +.10

<eminitrader> Long ES @ 1533 11:42

10 big ones ...will prolly work out

tough area here ...position traders and day traders ...shld get some movement 11:44

Exited 1/2 ES Long @ 1533.50 --> + 0.5 11:47

back in the black :))

<intowin> yeah

<werner> good 11:48

<eminitrader> thx w

Exited Remainder ES Long @ 1534 --> + 1

<NihabaAshi> Punks picked pocketed my trailing stop :( 11:49

<eminitrader> k now will wait for the pm session...no more scalping...too much of a pain

<NihabaAshi> Exited all ER2 Long @ 845.60 --> + 0.1

<eminitrader> dicey area here ..like u mentioned niha

<NihabaAshi> I've been missing a lot of big moves lately while at lunch or away from the market around this time. 11:52

<les> Shorts ER2 @ 845.6

<NihabaAshi> Today I plan to trade through and with my luck will probably only see price action like the current one the past 15mins :(

<eminitrader> the late hour session is working out well the past few days on the ES 11:53

Shorts ES @ 1534 11:55

<les> Covered all ER2 Short @ 845.4 --> + 0.2 11:58

no

Covered all ER2 Short @ 845.2 --> + 0.4

bound to bounce a boit there

<eminitrader> Covered 1/2 ES Short @ 1533 --> + 1

<les> Shorts ER2 @ 845.3 11:59

Shorts ER2 @ 844.3 12:00

jeez

<eminitrader> Covered Remainder ES Short @ 1532.50 --> + 1.5

<les> even thats wrong

cant do much right with typos today 12:01

Shorts ER2 @ 844.6

ok thats the rigt one :)

<eminitrader> Long ES @ 1532.75 12:05

will brek 1531 or test the highs

<intowin> agreed 12:06

<AmazingJason> think we're headed down

<NihabaAshi> That's two big Dark WRB's since 1130am est that occurred after "flat volatility"...very tricky.

<eminitrader> maybe later in the day ...low probability of it happening now 12:07

<les> niha...

ru saying that the WRB theory has less validity in low volatility conditions? 12:08

maybe thats should be obvious :)

<NihabaAshi> No...I'm saying that when its flat...there's nothing to analyze.

<eminitrader> :))

nice one niha

<NihabaAshi> Volatility needs to be rising or declining regardless if its high volatility or low volatility to give me something to chew on. 12:09

Flat Volatility is a beast I don't like to mess with.

<les> ah, ok, so any signal will dpened on decent volatility.. 12:10

general point

<NihabaAshi> Yeah...I just need to see the volatility move up or down.

<les> right 12:11

* codehead_afk is now known as codehead 12:12

<eminitrader> the more time it spends in this area ...ur read maybe right AJ

Exited ES Long @ 1522.25 --> - 10.5 12:13

Reverse and Enter Short ES @ 1522.25

will re post

Shorts ES @ 1532.25

<NihabaAshi> Shorts ER2 @ 844.10 -> medium size

<les> Covered all ER2 Short @ 843.9 --> + 0.7

<eminitrader> Covered ES Short @ 1532.75 --> - 0.5 12:15

Reverse and Enter Long ES @ 1532.75

<NihabaAshi> Trade not going well but at least it shook up the flat line volatility

Covered all ER2 Short @ 844.90 --> - 0.8 12:16

Shorts ER2 @ 845.00 -> large size 12:17

<eminitrader> Exited 2/3 ES Long @ 1533.25 --> + 0.5

Exited Remainder ES Long @ 1532.75 --> 0 12:18

never had so maany trades in along long time...

think i'm done for the day 12:19

<NihabaAshi> I'm still Bullish until Friday's close.

Very tricky again after the decent volatility spike. 12:27

:( 12:32

This trade is becoming painful to watch...tightning up my stop\ 12:33

Volatility is dead and that makes my trade high risk now. 12:37

However, price action hasn't changed to make be reverse my trade into the direction of my Bullish Bias. 12:38

<AmazingJason> think we'll get some downside continuation here 12:39

would need to break below 20 MA 12:40

<NihabaAshi> I'm leaning towards UP and if I can get 1-2 ticks out of this trade...I'll dump it.

<szubaark> [10:37] > this upmove happened so fast, could just CHOP now :(( 12:41

another frikin tightening triangle forming..like yersturday 12:42

<NihabaAshi> By the way, I "had" a target for this trade of around the 844.00 price area via any WRB

<szubaark> Niha u usually wait for candle close when exiting on a WRB Target? 12:43

say 2 or 5min Candle close

<NihabaAshi> Sometime I take the WRB prior to the interval close. 12:44

Tough trade...nothing to prompt a positon reversal, nothing to prompt adding to the position at current price levels et cetera. 12:46

* les is now known as LesAway

<NihabaAshi> Sit and Wait like a deer on a highway in front of approaching cars :(

Pain now nearing my Threshold. 12:47

Wasn't there a movie called "Flat Liners" ??? 12:54

<eminitrader> yeah ..steven king 12:57

<NihabaAshi> Oil starting to decline moe but it's not good enough to push the Eminis down unless Gold joins in the decline. 13:02

<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)

<NihabaAshi> Covered all ER2 Short @ 845.80 --> - 0.8 13:04

Not my worst loss of the month but my "most difficult trade" of the month.

Stop wasn't hit, market clues dried up during the trade and that allowed it to reach that Threshold where you feel like pulling out your hair :( 13:05

<Brutus> should have just gone for the sushi :( 13:06

<eminitrader> lol

<NihabaAshi> Yep...bad luck today in that past trading days was a bad time to go for Sushi... 13:07

Today was a good day for Sushi.

Trade could have been worst...ER2 reached the 846.30 price area were my stop was at. 13:08

Long ER2 @ 847.00 -> large size 13:10

Geeesh...volatility dropped as soon as I entered 13:11

<Brutus> it was that 300 ask

<NihabaAshi> Long ER2 @ 846.40 -> Add 13:17

<AmazingJason> Long ES @ 846.40 13:22

<NihabaAshi> It's starting to feel like a trading day controlled by the "swing or position" traders...

They are just picking their spots to ADD to their positions.

When they are unwilling to budge at certain price levels...it FLAT LINES. 13:23

<AmazingJason> Long ES @ 846.30 -> Add

Long ES @ 846 -> Add 13:25

<NihabaAshi> Long ER2 @ 846.00 -> Add 13:26

AJ...that's what I'm doing (New plan for the day)...when volatility flat lines...add to my position.

<eminitrader> Shorts ES @ 1534.25 13:30

looks like the ES is exhausted

<NihabaAshi> Geeesh...it dropped 4 ticks to make way for a 30 contract trade :( 13:31

That flat lined it again :(

<Brutus> last 2 days it dropped in the afternoon e, you going for third time lucky? 13:32

<eminitrader> kinda B ..with the gap fill too...only risk is no test of high ...but tight stop with a rentry possibly 13:33

<NihabaAshi> Exited 1/4 ER2 Long @ 846.50 --> + 0.5 13:34

<eminitrader> looks like itwants to test the Highs

<Brutus> My prediction is for a swift move down past 1532 then up into the close 13:35

<eminitrader> but more likely a exhausted move

if it breks the 1532 - 31 area ...good chance of a retest of the low 13:36

<NihabaAshi> Long ER2 @ 845.90 -> Add 13:41

<eminitrader> woah ...looks like ur loaded niha

<jperl> ER2 peak volume 845.50, VWAP 845.11 13:42

<NihabaAshi> No...I'm not loaded...I dumped some before this last Add. 13:43

<eminitrader> k..

Covered all ES Short @ 1533.75 --> + 0.5 13:46

Shorts ES @ 1533.50 13:49

<NihabaAshi> Exited all ER2 Long @ 845.50 --> - 1.9 13:51

<AmazingJason> Exited ES Long @ 845.40 --> - 1.6 13:52

<jperl> ER2 @ VWAP 845.12

<werner> for the italians on this chat: enjoy your footbal match 13:55

<AmazingJason> Long ES @ 845.40 -> small size

<grabthemoney55> good afternoon guys 13:56

<eminitrader> Shorts ES @ 1533 -> Add 13:57

<NihabaAshi> Shorts ER2 @ 845.20 -> large size

<werner> also for the englisch of course

<AmazingJason> Long ES @ 845 -> Add 13:58

<eminitrader> Covered 1/4 ES Short @ 1532 --> + 1 14:00

Covered 1/4 ES Short @ 1531.50 --> + 2 14:02

<AmazingJason> Exited all ES Long @ 844.10 --> - 2.2

<NihabaAshi> Covered all ER2 Short @ 843.70 --> + 1.5 14:03

<grabthemoney55> nice trade niha 14:04

<NihabaAshi> I'm watching ER2 sliced very easy through a 0.5 to 0.80 ticks on 10 to 15 lot trades :(

That's tough to trade when it's doing that.

<grabthemoney55> niha can u im message me...want to talk to u about something 14:05

<NihabaAshi> ok

<eminitrader> Covered 1/4 ES Short @ 1530.50 --> + 3 14:06

<NihabaAshi> I just open a pm log with you.

<eminitrader> holding 3 for possible gap fill

<AmazingJason> Long ES @ 844 14:07

Long ES @ 843.80 -> Add 14:10

* LesAway is now known as les 14:12

<les> Long ER2 @ 844.1 14:14

<AmazingJason> Long ES @ 843 14:19

<szubaark> Shorts ES @ 1529.50 «« paper »»

<NihabaAshi> Shorts ER2 @ 843.00 -> large size

<les> Exited ER2 Long @ 843.2 --> - 0.9

Reverse and Enter Short ER2 @ 843.2

<NihabaAshi> Volatility is picking up...spiking up and down... 14:20

Making it "VERY EASY" to make good trade decisions.

It also makes it easy to push some size.

<AmazingJason> Exited all ES Long @ 842 --> - 2.8 14:21

<szubaark> Covered all Short ES at 1527.50 --> + 2 «« paper »» 14:22

<les> Covered 1/2 ER2 Short @ 842.1 --> + 1.1

<eminitrader> Covered Remainder ES Short @ 1527 --> + 6.5

<NihabaAshi> Covered all ER2 Short @ 840.90 --> + 2.1 14:23

<eminitrader> alls well that ends well :))

<les> Covered Remainder ER2 Short @ 840.9 --> + 2.3

<szubaark> Go Niha!!

<NihabaAshi> Yep

<szubaark> Go emini!

<eminitrader> thx szu ...good end after a lousy start this am

<NihabaAshi> However, today was the day to go get Sushi instead of struggling through the lunch time dead zone...I would have been back to trading no later than 1:30pm est :) 14:24

<AmazingJason> Long ES @ 841.40

<szubaark> Note: I cant congratulate all other traders that were Short as I usually pay close attention to Niha's and eminitrader trades only. 14:25

<RussellDaytrade> szu, you're just a fkn suckass is the real reason

<AmazingJason> Long ES @ 841 -> Add 14:26

<szubaark> thats not nice to say Russell. You must be scaling into Longs because u sound unhappy.

<jperl> not called for RD

<AmazingJason> geez

<les> same 14:27

<RussellDaytrade> I am extremely happy!

to see this drop

<eminitrader> comeon Rd ...lets maintain some decorunm in here...we r all here to make some money..

<AmazingJason> Exited all ES Long @ 839.80 --> - 2.8

<les> Shorts ER2 @ 840.1

<RussellDaytrade> just had to express myself...carry on, I know it won't really change anything anyway...back to the salt mines 14:28

<les> Covered 1/2 ER2 Short @ 838.9 --> + 1.2

<eminitrader> perfect day to be greedy :(( what a move 14:29

hindsight i guess 14:30

<les> Covered Remainder ER2 Short @ 839.4 --> + 0.7 14:33

was too greedy there

<eminitrader> me too les ...but happy cause i caught around 3/4 of the move 14:34

i left a coulple of pints ...but what pisses me off was that my final targer was 1525 ...for the gap fill on ES 14:35

and Es is bouncing back from 1524.75 :(( 14:36

<les> Long ER2 @ 839.9 14:38

<jperl> todays trades here.... 14:42

http://charts.dacharts.com/2007-05-23/JP ERL_013.png 14:43

<RussellDaytrade> greensapn now calling irrational exurberance in Chinese mkts! lol 14:45

<szubaark> jp.. nice Plus day.

<les> Exited all ER2 Long @ 839.9 --> 0

<jperl> yes....but missed the down draft

<eminitrader> true Rd ...cnbc need something to explain this gap fill :))

<jperl> was doing something else

<eminitrader> man these guys r just looking for something to explain the mrkt moements 14:46

<les> that wasnt an exit..mistake

<RussellDaytrade> maybe the Chinese cxan understand what he says!

<eminitrader> lol 14:47

<pat255> les still L? 14:51

<les> yes

<pat255> kty

<les> looks like a&e pattern on the bottom

and has broken the neckline 14:52

<NihabaAshi> Reminder -> Do not use any profanity nor make derogatory commentary towards another member. These chat logs are spidered by all the major search engines and what you say in here can be search at search engines within weeks after saying it.

<les> and a whole lotta fresh air above it, so here's hoping it delivers

<pat255> u got a good entry.. 14:53

<les> :)

<NihabaAshi> Simply, if I find myself spending my evenings editing my chat logs to remove particular colorful commentary...

I'll remove the room member to prevent editing time at a later date.

<les> well ur obviously referring to RD's remarks towards szu 14:54

i'm still unhappy about it, RD

havnt commented tioll now cos busy with trades

i think u should aologise to him publicly in here 14:55

<NihabaAshi> Also, we have a lot of new members in here and I don't want to word to get out that this is a good place to "vent" because "it will" attract the wrong crowd...has done so a few times in the past.

<les> put it right

<pat255> my thinking is not corect ...with this fall any move up will be Shorted ...where is the Q?

<les> and that'l put and end to it hopefully

<NihabaAshi> I'll let RD and szu resolve this privately via private message.

<les> ok, fine with me 14:56

<pat255> agree niha ..

<AmazingJason> hmm bit of a comeback in the market

<les> q?

<NihabaAshi> Besides...I'm in a bad mood myself :(

<les> exit stop raised ER2 @ 838.5 14:57

<eminitrader> Shorts ES @ 1530

<NihabaAshi> I got letters from both the Canadian governement and France government that I have to pay taxes when I already pay taxes to the U.S. government...

These folks will get an education about double taxation from my tax accountant soon. 14:58

<les> exit stop raised ER2 @ 840.9

WRB Analysis

Learn More

<AmazingJason> i hope so, i hate anything to do with taxes :/

<les> hoping it takes out the wrb @ 14:18 14:59

2min chart

<NihabaAshi> One of the disadvanteges of having dual citizenship and legal residence in multiple countries.

<AmazingJason> Long ES @ 841.40 15:00

<eminitrader> Covered 1/2 ES Short @ 1528.75 --> + 1.25 15:02

<NihabaAshi> Some size came through again to quickly skip it through several price levels... 15:03

Good thing is that in was no more than 3 ticks and not 2x or 3x the levels as before the big drop. 15:04

Volatility drying up again...expecting a volatility spike here soon. 15:07

I dont care which way...I plan to jump on its coat tail.

<les> gotta be UP niha, cos i'm long 15:08

<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)

<les> Trailing Stop Hit ER2 @ 840.9 --> + 1

nutso

<AmazingJason> Long ES @ 840.60 -> Add 15:09

<NihabaAshi> Long ER2 @ 840.70 -> medium size

That's a Short

Will correct...

Shorts ER2 @ 840.70 -> medium size 15:10

sorry about that

<eminitrader> Covered Remainder ES Short @ 1527.25 --> + 2.75

<NihabaAshi> I got short within a WRB volatility spike...

Hoping it drops below 439.80 15:11

<AmazingJason> Long ES @ 840.20

<eminitrader> i done for the day

<pat255> well done em...

<Brutus> nice trading today e

<eminitrader> thx pat,B

<les> also done here 15:12

cya all tomorrow

<eminitrader> going to take it easy thrs and fri...dont want to give any back this month

<NihabaAshi> Volatility dried up again :(

<pat255> later les ..

<NihabaAshi> Hoping now that it goes into "creeper mode" downwards.

<Brutus> I think markets preparing for a big move down, so may be some action the next couple days 15:13

<GoodMood> going down before a holiday ? 15:14

<les> agree brutus

<GoodMood> I thought markets rally before holidays

<NihabaAshi> It needs to drop many more points that change my Bullish Bias into a Neutral Bias.

<les> the big rise a few days back means a retest

at some point

<codehead> the dump was due to greenie comment about china mkt due for correction 15:15

<Brutus> may not be thur or Friday but soon

<les> whenever it is.. i gonna go polish my shorting bucket

<codehead> YM could famir, shorts trying hard 15:16

but not getting far

<Brutus> agree less I will be looking for shorting ops

<pat255> lol..

<eminitrader> agree B...ES specially due for a pullback

<codehead> ER trying

it's holding pretty good around pivot

<pat255> be careful bulls have working hard...they & the dippers dont give in esily,, 15:17

<NihabaAshi> Covered all ER2 Short @ 841.10 --> - 0.4

<Brutus> It did break the Yest LOD making today an outside day

<NihabaAshi> Long ER2 @ 841.30 -> medium size

<eminitrader> my feel is ym es and nq will all have a pullback ...medium term ...i'm bullish long term expect 1580 on the ES 15:18

<szubaark> emini we still got that gap to fill u mentioned before on 5/18

<pat255> yes em it is gonna take a sledge hammer a big one on the bulls to make them cry ...else it is all up 15:19

<eminitrader> lets hope so 15:20

B u taking 1516 area

taking = talking

<Brutus> imo Greenie knows the market well, he times hes comments so that the action after reinforces his legacy

such as the Feb 25/26 coments

<NihabaAshi> Long ER2 @ 840.50 -> Add

I got a good s/r zone for adding on this trade...it should pay nicely. 15:21

<pat255> L 40.7 er

<Brutus> But point is market appears to react to his comments when infact it was ready to do so, do you know what I mean :) 15:22

Down have a downside target e just looking for short setups and will hold them longer 15:24

<NihabaAshi> Exited 1/2 ER2 Long @ 841.50 --> + 1

<pat255> out +1

<GoodMood> confrat ! 15:25

congrat !

<RussellDaytrade> AG gets paid well to make specific targeted comments, an Ambassador of Mkt MAyhem, or opportunity, if you prefer

<Brutus> In the same respect todays goundwork, gets bushed aside as temporary blip due to the Greenie comment 15:27

<eminitrader> got a piont there

<NihabaAshi> 34 and 42 contract lot dropped it by 5 ticks :( 15:28

Actually 39, 34 and 43 lot size did the damage. 15:29

<eminitrader> can such light vol make such large moves on the er2 mean 4-5 ticks on aregular day or is it just today niha 15:30

<NihabaAshi> I think its been that way for a few trading days because I've notice the normal WRBs on very low volatility. 15:31

Today is the first day I've been monitoring Times & Sales closely.

<eminitrader> k thx

<NihabaAshi> Long ER2 @ 840.30 -> Add 15:32

Usually I don't keep trading after I've reached my profit goals for the day... 15:34

I decided to continue trading because its an "unusual volatility" and I want some experience with it just in case it continues after I return from vacation. 15:35

<Brutus> I'm long up to the close 15:36

<eminitrader> no think too much res on the ES 15:40

i'm refering to just the ES 15:41

<NihabaAshi> Exited all ER2 Long @ 840.50 --> - 0.6 15:46

<werner> gn all 15:48

<GoodMood> invisible hands holding ER2 up at 840.0, yesterday it was 841.0

<NihabaAshi> Shorts ER2 @ 838.00 -> large size 15:52

She's trying to do one more hard push downwards. 15:53

<RussellDaytrade> http://s138.photobucket.com/albums/q277/ RussellDaytrade2/?action=view&current=Al anGreenspan.jpg

thanks bud!

<pat255> vn niha dang missed it .. 15:54

<NihabaAshi> I"m looking for one more push down... 15:57

If I don't get it...the market will take me out at only 1-2 tick profit on this trade. 15:58

Looks like I survived the 4pm est mad rush to the door. 16:01

<pat255> sounds like no dippers looking to get in.. 16:05

<NihabaAshi> Covered all ER2 Short @ 837.90 --> + 0.1

For what its worth...I had a 2 point profit target... 16:06

I thought it would drop much further as traders dumped while heading out the door sort'uv speak.

<pat255> prolly some S cover at the eod

<NihabaAshi> Trading after 4pm est is one of the toughest trades to do in my opinion. 16:07

Too many key markets and cash indexes are closed.

<pat255> yes ...will never do that ..low vol they can jerk u around..

later guys niha c u all am ty all 16:09

<GoodMood> good night to all ! 16:11

<NihabaAshi> I'm Bullish all the way down to 827.80 and if ER2 reaches that price... 16:21

I become Neutral...valid only for this week of trading.

<Awash> . 17:10

<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) 17:11

<NihabaAshi> Take care all and see all tomorrow. 17:30

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Wed May 23 17:31:06 2007 17:31

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