#FuturesTrades realtime trade posting journal on IRC Othernet server for full-time and part-time traders

May 2006 Trade Log Archived Trade Logs Trading Strategies

May 30th Tuesday 2006 Trade Log

#FuturesTrades is a private and free realtime trading posting chat room on the IRC Othernet server that allows traders from all over the world to communicate.

Click here for the instructions on gaining access to #FuturesTrades.

In addition, NihabaAshi is the only trader in #FuturesTrades that represents TheStrategyLab.com strategies.

Further, you'll find below the chat room text log of realtime trades (real money and simulator) that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est).

Also, you should read NihabaAshi's trading blog like comments (posted below after the trade posts) because sometimes the commentary will contain trading tips that are more useful than what you will see at any other futures blog.

Session Start: Tue May 30 09:29:38 2006Session 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

<pat255> gm all...

geez no idea this am on the mkt.. 09:31

<NihabaAshi> When lost...take cues from Oil :)

It's what I do.

<pat255> thks Niha...will do...

mkt not in forgiving mood,,, 09:34

<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) 09:35

<les> Shorts ER2 @ 726.1 «« paper »»

<NihabaAshi> Shorts ER2 @ 726.20 -> small size

1 contract only 09:36

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<les> exit stop set ER2 @ 727.8 «« paper »»

<NihabaAshi> Covered ER2 Short @ 726.00 --> + 0.2 09:37

Long ER2 @ 726.30 -> large size 09:38

<les> Covered 1/3 ER2 Short @ 725.6 --> + 0.5 «« paper »» 09:39

<NihabaAshi> Long ER2 @ 725.90 -> Add

<les> Covered Remainder ER2 Short @ 726.1 --> 0 «« paper »»

<NihabaAshi> Exited ER2 Long @ 725.40 --> - 0.9 09:41

Reverse and Enter Short ER2 @ 725.40

Shorts ER2 @ 725.10 -> Add

<les> Shorts ER2 @ 724.5 09:42

<NihabaAshi> Covered 1/3 ER2 Short @ 724.30 --> + 0.8 09:43

<les> Covered all ER2 Short @ 724.2 --> + 0.3

Shorts ER2 @ 723.7 09:44

<NihabaAshi> Thkat prior loss was -0.90 and a -0.50

<szubaark> Long YM @ 11225 09:45

<les> Covered all ER2 Short @ 723.2 --> + 0.5

<NihabaAshi> Oil price action got me on the right side of the tracks...reversing my Long position into a Short position. 09:46

<les> Shorts ER2 @ 722.8

<NihabaAshi> Covered 1/3 ER2 Short @ 722.70 --> + 2.7

<les> Covered all ER2 Short @ 722.2 --> + 0.6 09:47

<szubaark> Exited all YM Long @ 11210 --> - 15

<pat255> wow....guys back later meeting..:( sigh 09:48

ty all

<les> Shorts ER2 @ 721.3 09:51

Covered all ER2 Short @ 720.5 --> + 0.8 09:52

<NihabaAshi> Covered ER2 Short @ 721.40 --> + 4

Holding 2 contracts.

<les> wrong exit

Covered all ER2 Short @ 720.7 --> + 0.6 09:53

<szubaark> nice Short Niha 09:54

<NihabaAshi> I should have been short out of the gate (hindsight analysis) but missed a big time short signal that the market was heading downwards. 09:59

<szubaark> Shorts YM @ 11202 10:01

<NihabaAshi> Consumer Confidence report 10am est price reaction.

<les> wierd how er2 holds back while the others go ape 10:02

<szubaark> exit stop set YM @ 11214 10:03

<les> anyone know what the report said?

<Awash> Long YM @ 11203 «« paper »» 10:04

<NihabaAshi> No but the market seems to have shook off the initial down reaction...

I guess it like the info.

<Awash> S2 bounce

<les> hmmm - says cons conf fell 10:05

dunno how much tho

<NihabaAshi> I never pay attention to the specific numbers itself mainly because I'm no economist.

I just watch the price "reaction".

<PapaJon> MAY CONSUMER CONFIDENCE FALLS TO 103.2 VS 109.8 APRIL

<les> thx jon

<PapaJon> but the expected was consensus was 101 10:06

<jimmy> Long ES @ 1272.25 -> large size

<NihabaAshi> Oil Index seems to have found some support since 0950am est. 10:07

If Oil starts to push as if it wants to threaten that support area... 10:08

ER2 will follow downwards...HARD.

<szubaark> Niha i dont follow Oil that much.. but minis follow Oil? 10:09

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<NihabaAshi> szu...only when its the talk of the town among the big boys.

Oil Index pushing bleow its support level.

<aym> long er2 @ 721.7 risk 1.5 10:10

<NihabaAshi> szu...if Oil is boring or very little news...I usually only look for hints just the first 30mins of trading. 10:11

After that...I leave Oil alone.

#FuturesTrades Purpose -> No gurus here, no signal calling by a head trader and no intentions to educate. This room is being used as a realtime trade journal of trades (real money or simulator) and discussions. Do not mimic (shadow) the trades by others without their consent nor without private realtime consultation during such trades as stated at http://www.thestrategylab.com/FuturesTra desChatRoom.htm 10:13

<aym> sells er2 @ 722.7

<jimmy> Exited 3/4 ES Long @ 1273.25 --> + 1 10:16

<NihabaAshi> Oil Index looks like it wants new intraday highs after breifly dipping below the intraday lows and then bouncing back upwards :( 10:21

<jimmy> Exited Remainder ES Long @ 1273.25 --> + 1 10:28

<Awash> Exited all YM Long @ 11203 --> 0 «« paper »»

Long YM @ 11200 «« paper »» 10:43

watching 11212 10:45

<les> Long ER2 @ 722.9

Exited 1/3 ER2 Long @ 723.1 --> + 0.2

<szubaark> Covered all YM Short @ 11214 --> - 12

<codehead> 5 min vegas went off on YM 10:46

<NihabaAshi> Trade Posting Script -> The color posted trades you see in here is available for free to any registered member of #FuturesTrades. To become a member of #FuturesTrades...follow the instructions at http://www.thestrategylab.com/FuturesTra desChatRoom and registration is free. Also, as a member you will be able to post messages at our discussion forum at http://p207.ezboard.com/bthestrategylab

<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) 10:47

<les> Exited 1/3 ER2 Long @ 723.2 --> + 0.3 10:51

<Awash> exit stop set YM @ 11200 «« paper »» 10:53

<szubaark> Shorts YM @ 11213 10:54

<les> Exited Remainder ER2 Long @ 723 --> + 0.1 10:55

Shorts ER2 @ 723.1 10:56

<NihabaAshi> I'm now tightning up my trailing stop...

exit stop lowered ER2 @ 724.20 10:57

Regardless to if the trailing stop on my remainders is hit or not...

This is my last trade of the day because I've reached my profit target for the day already. 10:58

<Awash> Do you generally stop early or in the morning session, Niha?

<les> Covered all ER2 Short @ 722.6 --> + 0.5 10:59

<Awash> Exited all YM Long @ 11200 --> 0 «« paper »» 11:00

<codehead> nice way to start the week niha 11:02

<szubaark> Covered 1/2 YM Short @ 11197 --> + 16 11:05

exit stop moved to breakeven YM @ 11213

<NihabaAshi> [10:58] <Awash> Do you generally stop early or in the morning session, Niha?

<FranceAlex> what broker do you guys use? 11:06

<NihabaAshi> Awash...I'm usually done trading before noon as in done opening new positions.

My goal is always to open a position and try to keep it all day...

That goal is rarely reached :(

<Awash> :)

i know what you mean 11:07

<NihabaAshi> Thus, my secondary goal kicks in and its based upon my performance regardless to my profit level.

If I'm happy with my trading with only $100 and I don't think its going to get better...

Regardless to the time...I call it a day.

If I'm up $1000 and I think it can get better... 11:08

I'll continue trading.

Yep...overall, I'm usually done by 12 noon est.

<codehead> YM trying to make it dbl bottom

<NihabaAshi> Also, once I reach a particular profit level for the month...I start scaling back on my trading and will only continue being aggressive if I'm testing a new edge. 11:09

This routine helps prevent burnout that's associated with someone being at their monitors all day (+8 hr days) and at it for many years. 11:11

A few weeks ago I measured that my actual screen time in front of my computer was about 4hrs 17mins for the prior month that was a record trading month for me. 11:12

<Awash> Long YM @ 11200 «« paper »»

<NihabaAshi> Meant 4hrs 17mins per trading day.

I would like to get that down into the 3hrs 45min range. 11:13

<szubaark> so the more experienced you get, the less time you trade and analyze the market 11:14

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<NihabaAshi> szu...in my case...yes.

<Awash> Exited all YM Long @ 11185 --> - 15 «« paper »» 11:15

<NihabaAshi> szu...I'm just trying to become more "efficient" in my trading, workload...my entire approach to the market. 11:17

Covered ER2 Short @ 720.70 --> + 4.7 11:18

Holding 1 contract

szu...you learn to become more efficient in your trading when you get married, start a family and want to be involved in the at home upbringing of your kids :) 11:21

Covered Remainder ER2 Short @ 718.90 --> + 6.5 11:22

<les> Shorts ER2 @ 718.7

<NihabaAshi> By the way...spouse and toddler in Montreal visiting close friends today... 11:24

Good day to do a good trade without any distractions :)

<szubaark> yes.. no wonder you smokin' today, No Distractions. 11:25

exit stop moved to breakeven YM @ 11200 11:26

code Mittens Ghost setting up on 5min YM 11:32

<les> Covered all ER2 Short @ 719.7 --> - 1

<codehead> i was long YM, but my data feed went out for a bit and i sold when it came back :-/ 11:35

for a couple ticks

<NihabaAshi> I just got a buy signal that I'm ignoring @ 720.00

Take care all...I'm done and will check back in later to do some code maintenance on the room behind the scene. 11:36

* NihabaAshi is now known as NihabaAshi_away

<codehead> potential ghosts shaping up on indices 11:43

inverted

<szubaark> also on 15min u got Vegas.. 11:45

<codehead> ER 3 min nice setup if it goes

<szubaark> I would like to see one more Push down then go ong 11:46

Looks like a Mittens ghost 11:49

Covered all YM Short @ 11182 --> + 31 11:55

Long YM @ 11183

<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) 11:56

<szubaark> exit stop set YM @ 11170 11:57

small bounce off double bottom 12:00

Exited all YM Long @ 11170 --> - 13 12:08

:((

<codehead> erk--nasty shake 12:09

nasty YM candle :-/

<szubaark> yup.. lunchtime games

<codehead> new low and right back

<szubaark> important to keep composure and not let them get to you 12:10

<pdays> Shorts ER2 @ 721.0 «« paper »» 12:22

Covered all ER2 Short @ 720.7 --> + 0.3 «« paper »» 12:33

<codehead> 15 min UNH--moving up past 3 days 12:38

<szubaark> Shorts YM @ 11169 12:57

<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) 13:05

<szubaark> exit stop set YM @ 11185 13:07

<codehead> 3 min ER trying vegas 13:19

a bit shallow

<szubaark> Covered 1/2 YM Short @ 11160 --> + 9 13:24

exit stop moved to breakeven YM @ 11169 13:25

Covered all YM Short @ 11169 --> 0 13:26

Long YM @ 11167 13:29

exit stop set YM @ 11157 13:31

Exited all YM Long @ 11157 --> - 10 13:43

<codehead> 5 min YM inverted mittens? 13:53

<szubaark> i need good setup for Long 13:54

<codehead> too many trades, too many bad fills--i'm up $1 today after commish :-/ 13:58

made me reluctant to take that trade 13:59

<szubaark> code.. you not the only one.. im DOWN also. tough day

Slow, controlled, downdrift

<codehead> i had a hunch the break of 11150 would be the entry, waited for it, but then got cheap and put my buy in a few ticks lower than it got to 14:00

<szubaark> WannaBeBos connection problems? 14:03

<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) 14:17

<Awash> Shorts YM @ 11173 «« paper »» 14:20

exit stop set YM @ 11172 «« paper »» 14:25

Covered all YM Short @ 11172 --> + 1 «« paper »» 14:42

Shorts YM @ 11164 «« paper »» 14:53

* NihabaAshi_away is now known as NihabaAshi 14:56

<Awash> exit stop set YM @ 11163 «« paper »» 15:02

RETEST on deck 15:04

Covered all YM Short @ 11144 --> + 20 «« paper »» 15:12

<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) 15:29

<szubaark> They gunning for 11050 again 15:30

<Awash> :) 15:32

<NihabaAshi> I know a few swing traders with Long positions from late last week must be a little worried about this price action. 15:55

Especially if ES drops back into the 1255.00 price area.

Take care all and see all tomorrow...next two trading days should be the best trading days of the week. 16:19

<Awash> take care

thanks for the advice this morning

* DisconnectedSession Close: Tue May 30 16:19:20 2006

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Trading Strategies -> These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: 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) and Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY)

Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary that on a few occasions will contain trading tips that should help your trading as I attempt to sum up my thoughts as I traversed from the first trade to the last trade that was posted above in #FuturesTrades realtime trade posting chat room.

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ER2 EuroFX EC

+19.00 +0.0000

$1,900.00 $0.00

Treasury Secretary and the Declining U.S. Dollar

I notice the financial networks on TV were covering live President Bush's nomination of Henry Paulson to replace John Snow as the Treasury Secretary in the few minutes prior to the market opening at 0930am est.

Most traders saw this as the White House effort (defensive) to control the slide in the U.S. dollar currency as explained at marketwatch.com

This can be a huge problem for the market if Oil continues to drop and the Eminis fail to rally strongly back upwards during any counter-thrusts against the current declines.

Therefore, I expect next year around tax time to be a very unpleasant situation for most traders in comparison to this year most recent April tax stressful preparation period.

Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of May...click here. To see results for the months of 2006 and prior years...click here.
In addition, do not assume you can achieve similar like trading results if you have access to TheStrategyLab.com strategies for the following reasons:

Your trading experience level is different

Your discipline while trading is different

You'll most likely trade via a different position size

You'll most likely trade via a different trading capital (account size)

You're trading via a different broker, different charting program et cetera

Your goals (daily, weekly or monthly) will be different.

Simply, any trader that gains access to TheStrategyLab.com strategies is a trader that is being given a piece of the puzzle to profitable trading and the rest is up to you as a trader.

Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.com
Note: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and you can view the charts associated with the key price action along with their stories at our key chart story archives.

We are proud to say that our chat room members are from the following geographical areas in the world:

Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Israel, Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

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

CME Emini Futures ES, NQ and ER2

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives BUND, BOBL and Schatz

Euronext Futures FTSE-100 and CAC-40

CME Futures EuroFX EC

Treasury Futures T-Notes ZN, ZF and T-Bonds ZB

Exchange Traded Funds DIA, GLD, OIH, IWM, QQQQ and SPY

NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

Last of all, if you have any questions about either #EminiFutures general market chat room, #FuturesTrades realtime trade posting room or the two realtime strategy discussion rooms used by traders with access to our fee-based strategies called #TheStrategyLab and #SwingTradingTSL...

Don't hesitate to ask your questions and we'll reply back as soon as possible.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

questions@thestrategylab.com

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