June 5th Monday 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: Mon Jun 05 09:50:22 2006Session Ident: #futurestrades
  
Today's Music:

Fleetwood Mac

Fleetwood Mac - The DanceToday I listen to Fleetwood Mac for about 30mins prior to the open, during slow price action (mainly mid-afternoon) and for about an hour after my trading day is complete to help bring the emotional aspects of trading back to equilibrium. To see my entire music selection, reviews and accessories that helps me to re-energize and prepare for the next trading day...click here.

  
* Now talking in #futurestrades09:50
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<szubaark> report in 2 minutes09:57
<Awash>  exit stop set YM @ 11211 «« paper »» 10:00
<PapaJon> 60.1... ism10:01

in line with consensus
<NihabaAshi>  Shorts ER2 @ 733.20 -> small size 10:02
<Awash>  Covered all YM Short @ 11174 --> + 25 «« paper »» 10:03
<szubaark> Nice.
<NihabaAshi> EuroFX EC futures picked a bad time in doing its volatility spike :(

It always allows ER2 to stabilize itself :(10:04
<szubaark>  Long YM @ 11179
<NihabaAshi>  Covered ER2 Short @ 733.80 --> - 0.6 10:07

Reverse and Enter Long ER2 @ 733.80
<szubaark> NQ/ES holding up
<mispe>  Shorts YM @ 11180 10:09
<eminitrader>  Long ES @ 1283 10:11
<mispe>  Covered 1/2 YM Short @ 11170 --> + 10

Covered Remainder YM Short @ 11175 --> + 5
<NihabaAshi>  Exited ER2 Long @ 733.30 --> - 0.5
Reverse and Enter Short ER2 @ 733.30
Added a few contracts on that reversal.10:12
<eminitrader>  Exited all ES Long @ 1283 --> 0
<NihabaAshi>  Covered 1/2 ER2 Short @ 732.90 --> + 0.4 10:13
<mispe>  Shorts YM @ 11174 10:14
<NihabaAshi>  Covered ER2 Short @ 733.90 --> - 0.6 10:16
Reverse and Enter Long ER2 @ 733.90
<mispe>  Covered all YM Short @ 11180 --> - 6 10:17
<NihabaAshi>  Exited all ER2 Long @ 734.60 --> + 0.7 10:18
<mispe>  Shorts YM @ 11185 10:20

Covered 1/2 YM Short @ 11180 --> + 5 10:21

Covered Remainder YM Short @ 11185 --> 0 10:22
<NihabaAshi>  Shorts ER2 @ 734.30 -> large size 10:24
<szubaark>  exit stop moved to breakeven YM @ 11179 10:26
<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)10:27
  
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<NihabaAshi>  Covered all ER2 Short @ 734.00 --> + 0.3 10:30

This price action sucks...taking a 5min break.
<mispe>  Shorts YM @ 11195 10:32
<pat255> gm all...10:33

stuck @ office sigh....:(
<szubaark>  Exited all YM Long @ 11191 --> + 12 10:40
<mispe>  Covered 1/2 YM Short @ 11187 --> + 8 10:41

Covered Remainder YM Short @ 11190 --> + 5

Shorts YM @ 11190 10:46

Covered all YM Short @ 11185 --> + 5
<pdays>  Shorts ER2 @ 735.1 «« paper »» 11:03
Covered all ER2 Short @ 734.8 --> + 0.3 «« paper »» 11:04
<NihabaAshi>  Shorts ER2 @ 734.20 -> small size 11:20

Shorts ER2 @ 733.80 -> Add

Geeesh :(11:22

Today's price action and the other trading days in June so far has been a royal pain in the butt.11:23

I saw a lot of complaints by traders about May...if this keeps up with June...there will be twice as many complaints about June.11:24
<szubaark> We have Bernake speaking at 2pm Eastern..maybe market waiting for that
<NihabaAshi> Yes...that's what I thought but its a little early for the market to be acting like this as it waits for Bernanke.11:25

I had a great month of May trading and I'm just a little disappointed so far with June's price action.11:26
<les>  Long ER2 @ 733.9
<NihabaAshi> Might be a good time to trade more the CME EuroFX futures and do less trading in ER2.

Covered 1/3 ER2 Short @ 733.30 --> + 0.5 11:27
<szubaark> Niha Dax Opening was that a Dark Inverted Hammer on the 5 minute?11:28
<NihabaAshi>  Covered 1/3 ER2 Short @ 732.80 --> + 1.4 11:29
<aym> Buy qm 72.575 risk 0.2
<NihabaAshi> feels good to get something more than a +1 point on an exit.11:30
<aym> Sell QM @ 72.911:35
<NihabaAshi>  Covered Remainder ER2 Short @ 732.20 --> + 2 11:37

[11:28] <szubaark> Niha Dax Opening was that a Dark Inverted Hammer on the 5 minute?11:38
<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)11:39
<NihabaAshi> Yes...I see a dark inverted hammer Line but no pattern.

Will keep my overall size small for the remainder of June unless IRAN/U.S. Oil situation picks up more steam and becomes a big issue in the market...11:40

Maybe it already is starting to.

Taking another break...longer one...today's trading has not been easy...can feel the tension in my shoulders.11:41
* NihabaAshi is now known as NihabaAshi_away
<Awash> YM hovering at LOD, any thoughts?12:24
<eminitrader> looks like ES will have a new LOD ..
<substanz>  Long YM @ 11173 12:25
<eminitrader> dont follow the YM
<Awash> k

Did ES make break PDL?12:26
<eminitrader> follow the NQ ans ES but trade just the ES
<Awash> Did ES break PDL?
<eminitrader> yeo by a couple of ticks
<Awash> same with NQ?
<eminitrader> nq lower lows all the eay12:27
eay = way
<Awash>  Shorts YM @ 11174 «« paper »»

exit stop set YM @ 11186 «« paper »» 12:32
<codehead> Ym 5 min could trugger inv ghost12:35
<Awash> codehead, what does that mean?
  

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<codehead> sorry, phone... potential reversal signal, up12:36
_potential_
<Awash> k
<codehead> ticking the trigger, not triggered
tickling
cci signal
<Awash> any volume rolling in pushing price up on 5 min YM?12:38
<codehead> haven't looked, but doubt it
price trying to decide12:39
<Awash> i see couple doji candles
<codehead> the inv ghost could roll over for continued downtrend, decided to get buyers
<Awash> possible indecision
<codehead> inverted ghost: a cci signal, basically selling pressure is pointed down, cools, then harder pressure down, cools off, then weaker pressure down (like inverted head & shoulders, but for cci, not price)12:41
just chewing on the trigger line--needs to eaither trigger of give up swoon
erk, "needs to either trigger or give up soon"
sorry, trading stocks at same time
knowcking at the trigger now12:42
sheesh, i better stop typing, can't spell
<Awash> i still understand12:43
<codehead> could go here
<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)12:51
<Awash>  Covered all YM Short @ 11186 --> - 12 «« paper »» 12:52
<substanz>  Exited all YM Long @ 11183 --> + 10 12:54
<szubaark>  Long YM @ 11179 13:01
<codehead> price hasn't moved much, but inv ghost being followed by famir, for continued up pressure13:06

on YM13:07
<szubaark> Yes..we are above 0line for six bars..Buying pressure
Ghost on 15minute charts code13:08
sorry..Vegas
<codehead> ah, yeah13:09

nice

nice YM 15 min vegas
<szubaark> u got 15min vegas and 5min ghost, strong Buy signals13:10
<codehead> ya
<Awash>  Shorts YM @ 11174 «« paper »» 13:18
* NihabaAshi_away is now known as NihabaAshi13:27
<NihabaAshi>  Long ER2 @ 727.50 -> small size 13:28
1 contract only...I'm in profit protection mode of what little profits I have today.13:29
Exited ER2 Long @ 727.70 --> + 0.2 13:31
<Awash>  Covered all YM Short @ 11178 --> - 4 «« paper »»
* Awash is now known as Awash_lunch13:33
<NihabaAshi> YM just spilled some nuts...geesh.13:43

Of all the Eminis...YM is the most susceptible to fat finger triggers.13:44
* Awash_lunch is now known as Awash13:58
<NihabaAshi>  Long ER2 @ 724.50 -> small size 14:01

1 contract only...I'm in profit protection mode of what little profits I have today.

Exited ER2 Long @ 724.10 --> - 0.4 14:02

Reverse and Enter Short ER2 @ 724.10

Shorts ER2 @ 724.00 -> Add
<szubaark>  Exited all YM Long @ 11147 --> - 32 14:03
Shorts YM @ 11147
<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>  Shorts ER2 @ 723.40 -> Add
Got myself into a little pickle here...forgot about the 2:15pm Bernanke speech.14:04
For some reason I had 3pm est in my head.14:05
Covered 1/3 ER2 Short @ 723.30 --> + 0.1 14:06
Covered 1/3 ER2 Short @ 723.30 --> + 0.8 14:07
Covered 1/3 ER2 Short @ 722.90 --> + 1.2 14:09
<szubaark> whatever hes saying is not good.
<NihabaAshi> The market had some problems overnight with the IRAN Oil situation...14:10
I think it just never had any confidence going into the Bernancke speech.
Shorts ER2 @ 721.70 14:14
1 contract only...I'm in profit protection mode of what little profits I have today.
Covered ER2 Short @ 719.90 --> + 1.8 14:16
<szubaark> Go Niha!
  
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<NihabaAshi> Now that its official that Bernanke has started his speech...14:18
I'm done trading for the day.
<szubaark>  Covered all YM Short @ 11111 --> + 36 14:21
<NihabaAshi> Geeesh...I need to put my crash landing helmet just to be able to watch this :)
<Awash> nice
<PapaJon> paraglider would be nice... :)
<NihabaAshi> :)14:22
<szubaark>  Long YM @ 11128 14:28
<pdays>  Long ER2 @ 719.6 «« paper »» 14:32

Exited all ER2 Long @ 719.8 --> + 0.2 «« paper »» 14:34
<szubaark>  Exited all YM Long @ 11106 --> - 22 14:36
Shorts YM @ 11106
Covered all YM Short @ 11108 --> - 2 14:41
Long YM @ 11108
<pat255> hi guys back for a bit..14:42
<NihabaAshi> My CME data went dead :(14:46
<szubaark>  exit stop moved to breakeven YM @ 11108 14:50
<pat255> k guys office work again..biab ty14:56
<szubaark>  Exited all YM Long @ 11108 --> 0 15:01

Shorts YM @ 11102 15:10
<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)15:12
<szubaark> Nasty selloff15:13
<codehead> man, bad timing for Bernanke to open his trap15:14
3 min indices have potential inv ghosts, szu15:28
<szubaark> too late in the day15:38
<codehead> bond signal bullish
yeah szu, had a feeling it was
when mkt is slammed like this, people just have to bail15:39
still, those inv ghost coming back to try
<szubaark> i missed the Opening selloff again. gotta get trigger ready next time
<codehead> might get followthru tomorrow
<szubaark> since that double bottom broke, they gave NO RETRACEMENTS to Short.15:42

Unless u want to take Wide Stops.
<codehead> dow -20015:48
brutal
<szubaark> thing is we probobly not going anywhere cus its summer15:55
<Awash> i have a question for you Szu15:56
give me one second
you there15:59
you there?
anyways, you wrote this "[14:42] <szubaark> since that double bottom broke, they gave NO RETRACEMENTS to Short.
[14:42] <szubaark> Unless u want to take Wide Stops.
<szubaark> yes
<codehead> maybe numerology freaks scared of tomorrow
<Awash> as a pullback trader, often times, there won't be many opportunities to catch a pullback16:00

as I've sat at my desk waiting and to no avail price left without me

what measures do you have in place to jump on trend without waiting for a pullback?16:01

entries and tactics

pullbacks are different each time
<szubaark> Today is Special and i was little aggressive due to the Volatility of Bernanke speaking. But on normal day, i would wait for pullbacks ONLY, and they would have to be to S/R.16:02
<Awash> what if you don't get that retracement you're looking for?16:03
<szubaark> If it doesnt set-up like i want it, dont take it
Exceptions: FOMC days, Major News Reports etc16:04
Ill just jump on board.
<Awash> k16:06
<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)16:24
<NihabaAshi> Take care all and see all tomorrow.16:29
* NihabaAshi is now known as NihabaAshi_away
* DisconnectedSession Close: Mon Jun 05 16:58:18 200616:58
  
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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
+6.70 +0.0000
$670.00 $0.00

Iran, Oil and Bernanke  

The above three words will be the theme of key price movements (mini trends and big trends) for the entire month of June.

Crude rallies on concern Iran may halt shipments  

Bernanke see economy slowing

In fact, I'm expecting to see more trend days (up or down) in comparison to the month of May trading due to the possible Iran Oil Crisis, Fed Chairman Bernanke economic commentary that the market seems to over-react to in his first year on the job as the Fed Chairman.

Therefore, I will attempt to do more position trading but only after some profitable day trades to use as a cushion if the position trades result in big losses.

Other than that, I got a late start on the trading day due to the fact I'm in the process of finding a new host provider for TheStrategyLab.com website because my current host has been having too many email problems (I get my emails between 2 days to 1 week after someone sends them to me.

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.

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.

  

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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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