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

June 2006 Trade Log Archived Trade Logs Trading Strategies

June 2nd Friday 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 towards the bottom) because sometimes the commentary will contain trading tips or insights that are more useful than what you will see at any other futures blog.

Session Start: Fri Jun 02 09:32:57 2006Session Ident: #futurestrades

* Now talking in #futurestrades 09:32

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

<NihabaAshi> Long ER2 @ 742.80 -> small size 09:33

Exited ER2 Long @ 742.30 --> - 0.5 09:37

Reverse and Enter Short ER2 @ 742.30

<mispe> Shorts YM @ 11280 09:39

Covered 1/2 YM Short @ 11275 --> + 5 09:40

<NihabaAshi> Covered 1/3 ER2 Short @ 741.00 --> + 1.3 09:41

<mispe> Covered Remainder YM Short @ 11274 --> + 6 09:42

<NihabaAshi> :(

I have some data problems.

Covered 1/3 ER2 Short @ 740.70 --> + 1.6 09:44

<szubaark> Dang..

<NihabaAshi> Covered Remainder ER2 Short @ 739.70 --> + 2.6 09:45

<mispe> Long YM @ 11250 09:47

<pdays> Long ER2 @ 739.5 «« paper »»

<szubaark> Long YM @ 11273 09:48

<mispe> Exited 1/2 YM Long @ 11256 --> + 6

<szubaark> Exited all YM Long @ 11252 --> - 21

<pdays> Exited all ER2 Long @ 739.9 --> + 0.4 «« paper »»

<mispe> Exited Remainder YM Long @ 11250 --> 0 09:51

Shorts YM @ 11245 09:54

Covered 1/2 YM Short @ 11238 --> + 7

<NihabaAshi> Shorts ER2 @ 738.60 -> large size 09:55

<mispe> Covered Remainder YM Short @ 11235 --> + 10

<NihabaAshi> Unbelievable...geeesh.

<szubaark> still going 09:56

<NihabaAshi> I just lost my CBOT and NYMEX data.

<szubaark> any news causing this drop? 09:57

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<NihabaAshi> Covered 1/3 ER2 Short @ 737.10 --> + 1.5

tightning up my stops...too many data problems. 09:58

exit stop lowered ER2 @ 738.50

<szubaark> Long YM @ 11216 09:59

<NihabaAshi> I think Europe coughed first...

Thus, could be related to Europe and/or could be just some profit taking by the longs. 10:00

I suspect the latter because the drop hasn't been like they are running out the exits...very control like...profit taking. 10:01

Covered Remainder ER2 Short @ 738.40 --> + 0.2

<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) 10:02

<NihabaAshi> Shorts EuroFX @ 1.29130 -> large size 10:03

<szubaark> Exited 1/2 YM Long @ 11232 --> + 16 10:05

exit stop moved to breakeven YM @ 11216

<NihabaAshi> Covered EuroFX Short @ 1.29180 --> - 0.0005

Reverse and Enter Long EuroFX @ 1.29180

Exited all EuroFX Long @ 1.29240 --> + 0.0006 10:08

<mispe> Long YM @ 11243 10:09

<NihabaAshi> Long ER2 @ 740.80 -> small size 10:10

<mispe> Exited 1/2 YM Long @ 11253 --> + 10

<NihabaAshi> 1 contract only

<mispe> Exited Remainder YM Long @ 11248 --> + 5 10:11

Shorts YM @ 11246 10:13

<NihabaAshi> Long ER2 @ 740.10 -> Add

Position now at 2 contracts (small size). 10:14

<mispe> Covered 1/2 YM Short @ 11241 --> + 5 10:15

Covered Remainder YM Short @ 11245 --> + 1

<NihabaAshi> Long ER2 @ 738.90 -> Add

Position now at 3 contracts (small size). 10:16

<mispe> was 11235 +11

Long YM @ 11240 10:17

Exited 1/2 YM Long @ 11247 --> + 7 10:18

<NihabaAshi> Exited 1/3 ER2 Long @ 740.10 --> + 1.2

<mispe> Exited Remainder YM Long @ 11240 --> 0 10:19

<NihabaAshi> Long ER2 @ 738.00 -> Add 10:20

<mispe> Long YM @ 11239 10:21

Exited 1/2 YM Long @ 11247 --> + 8 10:24

<NihabaAshi> Exited 1/3 ER2 Long @ 738.50 --> + 0.5

<mispe> Exited Remainder YM Long @ 11239 --> 0

<NihabaAshi> Darn euro...its volatility is increasing at the wrong time (taking away ER2 volatility). 10:27

<mispe> Shorts YM @ 11255 10:30

* Awash_afk is now known as Awash

<mispe> Covered all YM Short @ 11261 --> - 6 10:32

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<NihabaAshi> Long ER2 @ 737.70 -> Add 10:38

<szubaark> Niha u must be Bullish. 10:39

<NihabaAshi> Yes and I'm trying something new that I have never done before.

<asad> Short Qm @ 71.475 risk 0.3 10:40

<mispe> Long YM @ 11249 10:41

<NihabaAshi> Darn Euro again...it's popping to the upside on increasing volatility :( 10:42

<mispe> Exited 1/2 YM Long @ 11259 --> + 10 10:43

<NihabaAshi> If EuroFX EC will just sit still for a few minutes...I can get some decent points out of these adds until ER2 retest 742.00 price area.

Exited 1/3 ER2 Long @ 739.10 --> + 1.4 10:44

<mispe> Exited Remainder YM Long @ 11265 --> + 16 10:45

<NihabaAshi> EuroFX EC has lost its volatility... 10:48

Lets see if the Eminis can get more active now.

<szubaark> exit stop set YM @ 11240

<les> Shorts ER2 @ 739.4 «« paper »» 10:51

<NihabaAshi> Well...I got my 2 contract position established and protected it with a few trades for profits. 10:52

Will just leave it alone and see if it can hit the 742.00 - 745.00 as a WRB zone.

exit stop lowered ER2 @ 736.00 10:53

Lower stop because of the profits on those adds. 10:54

Be back later and will post a late trade result if stop is hit.

* NihabaAshi is now known as NihabaAshi_Away

<les> Covered all ER2 Short @ 739.2 --> + 0.2 10:56

<mispe> Long YM @ 11262 10:57

Exited 1/2 YM Long @ 11267 --> + 5 11:01

Exited Remainder YM Long @ 11270 --> + 8

<NihabaAshi_Away> Long ER2 @ 737.30 -> Add 11:06

Ok...I had a sneaky feeling I should delay going out side... 11:07

Be back later.

<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) 11:14

<szubaark> Exited all YM Long @ 11240 --> + 24 11:27

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<pdays> Shorts ER2 @ 733.4 «« paper »» 11:59

Covered all ER2 Short @ 733.3 --> + 0.1 «« paper »» 12:00

Covered all ER2 Short @ 732.3 --> + 1.1 «« paper »»

better 12:01

<Awash> Long YM @ 11223 «« paper »» 12:11

* NihabaAshi_Away is now known as NihabaAshi 12:17

<NihabaAshi> Late post...

Will post the actual number of the "entire trade" with the profitable add after the script post the incorrect total info. 12:18

Trailing Stop Hit ER2 @ 736.00 --> - 6.1

ER2 -10.20 with the profitable adds to protect the trade = -7.1 12:23

Long ER2 @ 734.50 -> small size 12:25

2 contracts only

<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) 12:26

<NihabaAshi> I have a ER2 +0.3 for the day but in the hole (loss) because of the commissions. 12:28

That little experiment didn't go so well but the earlier profits prior to it made it worthwhile trying :)

ER2 volatility has dried up. 12:38

May get lucky and capture a WRB.

exit stop raised ER2 @ 735.00 12:41

That ensures I'm profitable for the day...

Last trade of the day and hopefully it turns into a position trade for closing near the market close because the last one didn't work so well. 12:43

I still have the 742.00 - 745.00 WRB zone as a profit target.

Will post late trade if trailing stop is hit.

* NihabaAshi is now known as NihabaAshi_away 12:44

<Awash> exit stop set YM @ 11224 «« paper »» 12:54

Trailing Stop Hit YM @ 11224 --> + 1 «« paper »» 12:57

* Awash is now known as Awash_Lunch 13:10

<szubaark> Shorts YM @ 11232 13:21

exit stop set YM @ 11242

Covered all YM Short @ 11242 --> - 10 13:28

Long YM @ 11242

exit stop set YM @ 11220 13:29

<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) 13:35

<codehead> oil pushing up 13:45

<szubaark> Exited all YM Long @ 11220 --> - 22 13:46

Shorts YM @ 11220

was looking for better followthru but we had to consolidate 13:47

<substanz> Shorts YM @ 11225 13:59

Covered all YM Short @ 11233 --> - 8 14:01

Shorts YM @ 11226 14:02

<szubaark> nasty chop zone here

<substanz> yes :( 14:03

Covered all YM Short @ 11233 --> - 7 14:06

<eminitrader> just got back..looks like it is an am trading day..hope to get a setup in the pm

* Awash_Lunch is now known as Awash 14:07

<eminitrader> kids had a field day/sports day ..was good fun

<pat255> nice emini 14:15

<eminitrader> Shorts ES @ 1286.50 14:16

yep was a good day so far pat 14:17

<pat255> nice to spend time with kids ... 14:18

<eminitrader> they were thrilled with the surprise.. 14:20

sets such a pleasent mood for trading :) 14:21

<pat255> yes ...:) 14:25

<eminitrader> Covered 1/3 ES Short @ 1285.50 --> + 1 14:26

Covered Remainder ES Short @ 1286.50 --> 0 14:33

<szubaark> Covered all YM Short @ 11240 --> - 20 14:34

:((

<Awash> Long YM @ 11245 «« paper »» 14:38

<eminitrader> Long ES @ 1289

Exited all ES Long @ 1289 --> 0 14:43

<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) 14:47

<Awash> exit stop set YM @ 11237 «« paper »» 14:52

<eminitrader> see ya all mon ..have a good wkend.. 14:53

<Awash> Exited all YM Long @ 11243 --> - 2 «« paper »» 15:00

<szubaark> Long YM @ 11242 15:12

<jason314> hi. is this room no longer password protected? 15:15

* NihabaAshi_away is now known as NihabaAshi 15:19

<NihabaAshi> Just got back...late post...

Trailing Stop Hit ER2 @ 735.00 --> + 0.5

@ 14:17pm est :( 15:20

Crazy...it took a bunch of stops at that price and then bounced right back upwards...

Talk about the market being rude.

<GoodMood> rude ? 15:21

<szubaark> Stop hunters are in full force today

<NihabaAshi> GM...yes...I've been trying to do some position trades today (hold them as long as possible with wide stops) after a couple of day trades. 15:22

Things didn't go as planned...

There's next week :)

<GoodMood> there will be sunshine after rain ... 15:23

this has always been the same !

<NihabaAshi> Jason314...

Yes...I've temporarily removed the password.

Will put it back sometime in July I think.

<jason314> gotcha. thanks, niha

<szubaark> exit stop moved to breakeven YM @ 11240 15:24

<NihabaAshi> However, if some spammers show up...I'll lock the room down again. 15:25

#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 15:26

Reminder -> Today's #FuturesTrades chat room trade log with trading tip/market insight are posted @ http://www.thestrategylab.com/RecentTrad es.htm (logs will be updated tonight by 9pm est to current) 15:30

<szubaark> exit stop set YM @ 11250 15:39

<NihabaAshi> Take care all...I'm not going to sit here watching my monitor when I'm no longer trading for the day. 15:41

<szubaark> take care Niha 15:42

<NihabaAshi> Hope all had a profitable week of trading (I did) and hope all have a good weekend (I plan on seeing the Da Vinci code and doing some canoeing).

* NihabaAshi is now known as NihabaAshi_away

<szubaark> exit stop set YM @ 11240 15:46

Moving Stop Lower.. they might pick me off@11250

<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) 15:59

<szubaark> Exited all YM Long @ 11259 --> + 17 16:07

* DisconnectedSession Close: Fri Jun 02 16:33:22 2006 16:33

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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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Trading Sideway Markets

I see mostly newbie traders that are trend traders asking questions about what to do when the markets are sideways (not trending) or choppy.
First of all, we need to understand some generic statistics about Trending Markets versus Sideways Markets.
Most of the time (70%) the market will not be trending.
Therefore, if your a trend trader...you must understand that fact because 70% of the time your method is not suitable for use in the market.
Unfortunately, trend traders will ignore that fact and trade every day in hoping that the market will trend...they will get their wish 30% of the time.
With that said...here are my recommendations about what to do when the markets are going sideways if your a trend trader:
* Position size management via a reduction in position size to better manage the increased risk exposure if you already know your method does not perform well in sideway markets.

* Increase chart interval to prevent missing something from the big picture (bigger view of the playing field).

* Don't use a method that you already know is not suitable for sideway markets. Thus, switch to a method that's suitable for such.

* Take profits faster (don't try to get greedy).

* Open trade positions only when volatility is increasing...not decreasing.

* Understand why the market is going sideways...if you don't know...stop trading and go do something else for the day that's non-trading related.
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 June...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

"The point of this whole exercise is to make money. Everything else is just conversation." --Jonathan Hoenig

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