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#FuturesTrades June 6th Wednesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+6.10	+34.10	+1414.50
$610	$3,410	$141,450

click on image to view actual size

Current Performance Record

Candlestick Pivot Point Trading Triggers

Profit/Loss Statement

Today's WRB Analysis: Although the image shows the highlighted WRB...in this particular price action the actual change in supply/demand occurred in the White Hammer Line @ 1325hrs est because at one point during its development it was a Dark WRB via the 5min chart.

Further, if you look closer you will see that the body of the White Hammer Line closed above the low of the prior Dark WRB. This gave more merits that supply had shifted to the demand side of the Emini Futures.

As for my own trading, I had a private trader consultation from the open until around 1140am est. Thus, trades during the consultation were only seen by that one trader in another private chat room.

Yet, upon completion of the consultation, I begin posting my trades in #FuturesTrades.

In addition, I didn't want to be aggressive in my trading today because of the private trader consultation, at home distractions from the family and the range bound markets had me light (small) on my average position size per trade.

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 Jun 06 09:04:50 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:04

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

* subq market profile charts for today 09:16

http://www.charthub.com/images/2007/06/0 6/ym_mp_rth.png

http://www.charthub.com/images/2007/06/0 6/nq_mp_rth.png

http://www.charthub.com/images/2007/06/0 6/es_mp_rth.png

http://www.charthub.com/images/2007/06/0 6/er2_mp_rth.png 09:17

<RussellDaytrade> my target for this move is 843.07, i am of course hoping it goes lower, but this may be, close enuf! 09:18

<jperl> ER2 VWAP pivot lines for the opening bell shown here.... 09:25

http://charts.dacharts.com/2007-06-06/JP ERL_0138.png

<PapaJon> gm all 09:31

<RussellDaytrade> closed more short, still have small short open, :) 09:32

<jperl> ER2 bounced off 842.40 pivot 09:33

<RussellDaytrade> all out, flat now 09:35

<ItalianSharp> 9:50 AM ET : Richmond Federal Reserve Bank President Jeffrey Lacker to speak about the U.S. inflation outlook, in Frederick, Maryland. Audience, media Q&A expected. 09:37

<ItalianSharp> 2:45 PM ET : Kansas City Federal Reserve Bank President Thomas Hoenig (FOMC voting member) to speak about the U.S. economy & monetary policy, in Cody, Wyoming. Audience Q&A possible.

<RussellDaytrade> no charts from IB, anyone else's IB charts not updating? 09:39

<Chilly> got an IB alert .. no charting available 09:40

<eminitrader> thx IS...was not aware

<szubaark> Buys ES @ 1525.75 «« paper »»

<Littman> always with problems tws 09:41

<RussellDaytrade> thxC, just got the bulletin, dh's, they'll come back on when this gets close to a bounce high...small long now 09:42

thre's charts, closed the long, no coincidence, prob bounce more, just gotta work my numbers 09:43

charts still whacked out, all outta scale 09:45

<Littman> in quote tracker they are seen well 09:49

<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) 09:54

<RussellDaytrade> er should go up about 4-5 points straight up here 10:01

within 10 minutes!

<jperl> ER@ VWAP 841.51 10:03

<szubaark> Exited all Long ES at 1522 --> - 3.75 «« paper »» 10:05

:((

<jperl> ER2 peak volume now 840.50 10:08

VWAP @ 841.48

ER2 @ VWAP 841.34 10:14

this mornings trades.... 10:15

http://charts.dacharts.com/2007-06-06/JP ERL_0139.png

<Chilly> oil inventory number in about 10 mins. 10:20

<ItalianSharp> oil report failing to produce any volatility thus far...oil is plummeting 10:32

<Brutus> Long ER2 @ 1521.25 «« paper »» 10:34

Exited all ER2 Long @ 1520.25 --> - 1 «« paper »» 10:36

Long ER2 @ 1519.5 «« paper »» 10:38

exit stop set ER2 @ 1519 «« paper »» 10:39

Exited 1/2 ER2 Long @ 1520.5 --> + 1 «« paper »»

<Chilly> Long ES @ 1521.00 10:40

<Brutus> er nq 5 min hammers in s zone 10:41

Exited 1/4 ER2 Long @ 1521.5 --> + 2 «« paper »» 10:43

Exited all ER2 Long @ 1521.75 --> + 2.25 «« paper »» 10:44

dAX D6WN 2% 10:52

<intowin> had computer problems this morning. Anyone here lucky enough to be holding a short currently? 10:53

<base> I was long on ER2 overnight, but I am lucky enough because it was just a paper trade. :) 10:59

<intowin> :) sometimes thats the best trade

<base> Sure :) 11:00

<intowin> Did "Oscar" intise you in that long position? 11:01

<base> Pardon? 11:02

<intowin> He is a futures caller that is popular on youtube.

he went long in the overnight hours 11:03

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)

<Brutus> He was long at 1532.5 ouch

<base> Ah, I have heard about him. No, I was long due to ownanalysis CS formation analysis.

own CS analysis 11:04

<intowin> just courious.. K

<base> I think that the CS analysis was right, I just forget to check for tomorrow's fundamentals. 11:05

<jperl> CS?

<base> candlestick 11:06

<jperl> ah ok

<Littman> this is time to go long in ES

<base> I was also long on GBP, took over 10 pips profit.

I hope that ER2 have reached its floor as well. 11:07

<Brutus> Im thinking the same L for a pullback, what r u basing it on? 11:08

<NihabaAshi> Nice tight trading range to run-up our commissions :( 11:10

<jperl> ER2 @ VWAP 840.97 11:11

peak volume @ 840.50

I don't trade here

<Brutus> Littman ? 4 u above 11:12

<base> Test of the S2 has failed, the recent low is even higher, now, the ER2 has just broken the "upper" S2 from the bottom. 11:13

<Littman> no Brutus

<jperl> time for a break....trades here...

http://charts.dacharts.com/2007-06-06/JP ERL_0140.png

<base> I am talking about two different S2 levels, because everyone of them is calculated using a different formula.

<Brutus> ? 11:14

<base> Brutus: http://www.investopedia.com/articles/tec hnical/04/041404.asp 11:16

<Littman> 1521 was my long 11:17

<Brutus> thx base

<base> The common five points pivot system's R2 is at 849.50 and the pivot system used e.g. in Sierra Chart is at 850.10, I think it does include the open price into the formula.

Brutus: np 11:18

<Brutus> If everyone contributes/posts trades then we ahve more eyes on the market 11:20

<intowin> If you go long when I go short you could make a mint! 11:21

<Brutus> :)

<base> I have not scripted it yet. I am not using the mIRC client since I am running Linux. I have to script the trade posting, ... :) 11:22

<eminitrader> Shorts ES @ 1522 11:23

Covered 1/3 ES Short @ 1520.50 --> + 1.5 11:31

<Brutus> nice low risk trade e, I was not concentrating :( 11:32

<eminitrader> yep 2 tick stop B

<Brutus> If you just do that for a point with 10 contracts its all you need 11:33

<eminitrader> got out of 3 now haolding 7 :)

<Brutus> see I read minds too :) 11:34

<eminitrader> yyep today is a high lot trading day

Covered 1/3 ES Short @ 1521 --> + 1 11:36

Covered 1/3 ES Short @ 1519.50 --> + 2.5 11:39

holding 1

<RussellDaytrade> trying a long here, for the 4th time this am. :) all previous longs stopped out for flats. 11:40

<eminitrader> i wld'nt be long till the pm session RD ..at least on the ES

<RussellDaytrade> keeping tight stops today EM, and not averaging down...looks like the bears got the memo, after all...I like this pa, absolutely no lift on any move, thus far. 11:42

<eminitrader> indicates a strong bias towards the bears

u did right RD ...it wld be stupid to avg down on a day like this 11:44

at least on the pa so far

<RussellDaytrade> it woulda worked relatively well, actually, today, cuz the range ner these lows hasn't expanded much, and provided several bounces, more of a reflection that I am incorporating evolving styles and methods...somedays it applies well. other days it differs... 11:48

<eminitrader> wld have been massacared on the ES ...avgering to the long side 11:49

<NihabaAshi> Shorts ER2 @ 838.80 -> medium size 11:50

<eminitrader> avg down means having large stops or none at all..

Covered Remainder ES Short @ 1518 --> + 4 11:52

<intowin> nice

<eminitrader> thx

<NihabaAshi> punks took my trailing stop

<jperl> yesterdays 2nd STdDev 838.10

<NihabaAshi> Covered all ER2 Short @ 838.70 --> + 0.1

Long ER2 @ 838.60 -> medium size 11:57

<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)

<NihabaAshi> They just took another trailing stop :( 11:59

Geeesh

Exited all ER2 Long @ 838.70 --> + 0.1

<intowin> they want those commissions today : ) 12:00

<NihabaAshi> Yep

<Brutus> Looks like bears may go for lunch :) 12:01

<NihabaAshi> ER2 volatility is declining fast...I'm expecting a volatility spike here soon. 12:02

Long ER2 @ 839.30 -> small size 12:03

:(

Trade error

<Chilly> anyone interested in seeing CreditSuisse daily TA report?

<jperl> ER2 1st StdDEV @ 839.53

<RussellDaytrade> es trying to lead it off to the upside, looks like 12:04

<eminitrader> missed a sell by 1 tick :((

<RussellDaytrade> they're giving the er one more shake

<NihabaAshi> Long ER2 @ 839.00 -> Add 12:05

total of 2 contracts

<eminitrader> Shorts ES @ 1520.50

<intowin> dueling banjos 12:06

<NihabaAshi> ER2 volatility is dead...expecting a volatility spike here soon. 12:09

Exited all ER2 Long @ 839.30 --> + 0.3 12:10

Lucky escape thanks to the ADD. 12:11

The range is too tight for me to try to capture a WRB exit.

Therefore, my goals for these trades are just a few ticks. 12:12

<jperl> Todays ER2 standard deviation is only 10 ticks

<eminitrader> Covered 1/3 ES Short @ 1519.25 --> + 1.25 12:17

Covered Remainder ES Short @ 1520.50 --> 0 12:18

<jperl> ER2 crawled back up to the VWAP 840.38 12:20

peak volume just above 840.50

I don't trade here (reminder for me) 12:21

<eminitrader> Shorts ES @ 1521.50 12:22

* codehead_afk is now known as codehead 12:30

<RussellDaytrade> the long is working, and I expect it to continue to. 12:34

<intowin> bbl 12:36

<eminitrader> Covered 1/2 ES Short @ 1520 --> + 1.5 12:38

Covered Remainder ES Short @ 1519.25 --> + 2.25

<NihabaAshi> Long ER2 @ 839.80 -> small size 12:39

1 contract only and last trade before going to lunch

<eminitrader> done for the day ...unless i see a change in trend

<NihabaAshi> Exited ER2 Long @ 840.00 --> + 0.2 12:41

* NihabaAshi is now known as NihabaAshi_lunch

<ItalianSharp> well done today emini 12:48

<eminitrader> thx IS...large lots hellped me make up for yest.. 12:49

also today was a good day to trade

just needed patience

cld not trade yest.. 12:51

<Chilly> late post... limit exit during lunch 12:59

Exited all ES Long @ 1521.75 --> + 0.75

<jperl> Have to stop for now....here is my P/L statement.... 13:12

lots of trades...

http://charts.dacharts.com/2007-06-06/JP ERL_0141.png

<Littman> is time to go long on Es 13:17

<Brutus> Vix at 15 13:24

<RussellDaytrade> still with that long, I am really trying to give it time and opportunity, some days work better for that then others, today may not be the best, may still evolve into a good trade, did not add at lower prices today, mostly, I am celebrating my short play coming home to roost, even as I took it out of the oven early. 13:47

I have up targets ranging from 841 clear up to 845.3 13:48

mat seem like too much today, but stranger things have happened, and, with regular frequencies! 13:49

the next pb in theer stands a good chance of making a higher low, small comfort, but it's a start. 13:52

es looks like its at a balancepoint right here 13:56

er now rying to pull 'em up, with luck it'll get a little traction 13:57

<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) 14:00

<RussellDaytrade> oli! oli! in come free! 14:06

* NihabaAshi_lunch is now known as NihabaAshi 14:13

<NihabaAshi> Long ER2 @ 839.40 -> small size 14:25

I'm 3 ticks too slow on the entry :(

My late entry plus a WRB pt level formed...makes the trade high risk now for me. 14:26

<RussellDaytrade> its just getting going, more upside with patience 14:27

sold out

I'm long again, flatted it a little while ago, got back in

<NihabaAshi> Exited all ER2 Long @ 840.40 --> + 1 14:29

<RussellDaytrade> they making us longs work for our money today, eh EM? ;) reminds me of...yesterday! on the shortside 14:35

still a buy 14:40

<eminitrader> think so ..but i'll wait till 1522 is taken out on the ES 14:41

nq certainly a buy now

but ES may pull it down if Es does not test 1522 14:43

<RussellDaytrade> they're all slow crawlin outta the well, too many are fearing the down 150 headline risk, etc 14:44

<eminitrader> Shorts ES @ 1520

quick scalp - reduced size 14:45

<RussellDaytrade> er gotta be above vwap in here, bulls are now winning...barely, who'd a thunk it

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<intowin> I did the same thing at the same time with er at 841.40

<eminitrader> nice juicy res area here 14:46

<intowin> yep and tight stop for little risk

<eminitrader> lets see if it works :)

<RussellDaytrade> still an hour and ahlf to go, time for more upside to evolve, as I see it... 14:47

<eminitrader> think so too Rd

but Es in strong res area here

Covered 1/3 ES Short @ 1519 --> + 1 14:48

5 contract ..out 2 ..

<RussellDaytrade> EM, you did a masterful job of extracting a lot outta them es shorts this am, even with relatively samll swings, you only 'left' a half a move on the table (the last one) as I saw it...a;most thinking you might switch to the lside a little while back 14:51

pb's are higher lows now

<eminitrader> not yet RD ...still see the trend to the downside...for me to go long 1522 needs to be tested 14:52

be back ...next lot target 1518 ...stop@ b/e 14:53

<RussellDaytrade> yes, saw your post above.

<eminitrader> Shorts ES @ 1519 -> Add 14:59

noe holding 8 15:00

Covered 1/2 ES Short @ 1518 --> + 1

Covered 1/3 ES Short @ 1517.25 --> + 2.75 15:02

holding 2

looks like the smoke break did help :) 15:03

<ItalianSharp> emini, you've been kicking some serious butt today...:)) 15:04

<eminitrader> thx IS ..like i said had to make up for yest...

<ItalianSharp> did you perform bad yesterday?

<eminitrader> and the day before ...did not trade much there either

<ItalianSharp> or just lack of action? 15:05

<eminitrader> no IS was not able to trade yest..a

<intowin> Filled at 839.00 up 2.40

<ItalianSharp> ah ok

<eminitrader> nice one :)

<intowin> finally

gotta go see you guys. Nice work today.. 15:06

<eminitrader> later

<RussellDaytrade> feels like they packed in two days of action today, I'm ready for a little nappy, yaawwwwwnnnnnnnnnnnn. 15:09

<eminitrader> Covered Remainder ES Short @ 1519 --> + 1 15:11

<RussellDaytrade> yes, very nice 15:17

callin that good enuf for today, my patience paid off. a good day of trading all around. 15:28

<NihabaAshi> A lot of careful trading for me today. 15:31

Had some distractions here at home...still a good trading day. 15:32

Take care all and see all tomorrow.

* NihabaAshi is now known as NihabaAshi_away

<RussellDaytrade> beautiful structure in the er right now, comprised of the past 2.5 hours, normally would accelerate up from here, today, who knows. 15:46

* NihabaAshi_away is now known as NihabaAshi 16:49

* DisconnectedSession Close: Wed Jun 06 16:55:42 2007 16:55

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