#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 7th Wednesday 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.

Today's Music:
Santana

Today I listen to Carlos Santana 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.

Session Start: Wed Jun 07 09:31:23 2006Session Ident: #futurestrades

* Now talking in #futurestrades 09:31

<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 09:32

<NihabaAshi> Shorts ER2 @ 712.40 -> small size 09:33

<eminitrader> morn pat255 09:34

<NihabaAshi> Was a little late on that...should have been short around 712.90

<pat255> vn niha ...good start .. 09:36

<mispe> Shorts YM @ 11000 09:37

<NihabaAshi> Covered 1/3 ER2 Short @ 709.80 --> + 2.6

<les> Shorts ER2 @ 709.4 09:38

<NihabaAshi> Thanks...all because of the usual HINTS from Oil Index price action in the first 15mins of trading.

<mispe> Covered 1/2 YM Short @ 10995 --> + 5

<les> Covered all ER2 Short @ 708.9 --> + 0.5 09:39

<NihabaAshi> Covered 1/3 ER2 Short @ 708.70 --> + 3.7 09:41

* Awash is now known as Awash_afk 09:42

<eminitrader> nice niha

<NihabaAshi> :)

<mispe> Covered Remainder YM Short @ 10990 --> + 10 09:43

<NihabaAshi> If I need a "little luck" in reaching the 707.00 price area and hopefully as a Dark WRB to prompt me to exit my remaining position.

If I get that...I'll most likely call it a day because I would have easily exceeded my expections and goals for the day. 09:44

<pat255> wow in few mins nice niha

<les> Shorts ER2 @ 708 09:45

Covered all ER2 Short @ 707.4 --> + 0.6

Shorts ER2 @ 707.3 09:46

<NihabaAshi> Covered Remainder ER2 Short @ 706.90 --> + 5.5

<les> Covered all ER2 Short @ 706.9 --> + 0.4 09:47

<szubaark> Nice Opening trade Niha.

Long YM @ 10991 09:50

<mispe> Long YM @ 10989 09:52

<szubaark> exit stop set YM @ 10980 09:53

<mispe> Exited 1/2 YM Long @ 10994 --> + 5

Exited Remainder YM Long @ 10999 --> + 10

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<szubaark> Nice mispe. 09:54

<mispe> thks

<szubaark> so far Overnight holding 09:55

<codehead> GLGC 09:57

oops wrong room

<szubaark> hi code 09:59

exit stop moved to breakeven YM @ 10991

* Looking up codehead user info... 10:00

<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)

<szubaark> NQ looks the leader today 10:01

My Target will be overnight Highs IF it gets there 10:02

Exited all YM Long @ 11031 --> + 40 10:04

<codehead> nice 10:05

<szubaark> thanx..

<mispe> very nice 10:07

<eminitrader> nice one szu 10:10

<les> Long ER2 @ 716.2 10:11

Exited all ER2 Long @ 716.8 --> + 0.6 10:12

<asad> short er2 @ 719.2 risk 3 10:14

<NihabaAshi> Wow...what sparked this rally off the lows?

I mean...I easily see the technical reasons but what was the spark to those technicals. 10:15

Maybe Bernanke said something smart :) 10:16

<szubaark> think bush is talking on Immigration?

<asad> cover er2 717.5 10:17

<szubaark> Oil report in 5 minutes 10:25

Oil taking a Dive 10:31

<NihabaAshi> Via the 60min chart (bigger picture of the playing field)...there's a WRB key s/r zone between 720.50 - 727.80 10:36

Will be very interesting to see how ER2 performs when it trades in that particular s/r zone.

<szubaark> Niha what Day? 10:37

<NihabaAshi> June 5th Monday 10:42

That's a 7 point s/r zone and good enough for a position trade. 10:43

Thus, if ER2 doesn't get into that price area today but does tomorrow...I'll going to try a position trade again.

Note: Last few tries at position trading has been big losers for me :( 10:44

Yet, I'm trying to learn how to use my day trades as a hedge against the position if it doesn't go as plan. 10:45

* NihabaAshi is now known as NihabaAshi_away 10:48

<szubaark> Long YM @ 11026 10:55

exit stop moved to breakeven YM @ 11026 11:04

Exited all YM Long @ 11026 --> 0 11:08

<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) 11:09

<szubaark> Long YM @ 11042 11:37

<codehead> nice naz triangle

now trying to break it upside

<szubaark> higher lows

<pdays> Shorts ER2 @ 718.7 «« paper »» 11:41

<szubaark> exit stop moved to breakeven YM @ 11042 11:43

<pdays> Covered all ER2 Short @ 718.4 --> + 0.3 «« paper »» 11:48

<codehead> large bid on YM, moved up a few, didn't go away when hit 11:53

<szubaark> They waiting on NQ to catch up 11:57

<codehead> i bought but tighted up too fast, stopped out +7 11:58

should have waited

<szubaark> Exited all YM Long @ 11068 --> + 26 12:00

<codehead> nice

<pat255> nice szu

<szubaark> thanks.. just going with the trend.

<codehead> ER very nice 12:01

<les> Long ER2 @ 722.4 12:06

<pat255> guys gotta go back to office ..ty all... 12:10

<codehead> YM 3 min potential vegas (down) 12:11

ES also, but YM touching the trigger

and lsma is red 12:12

still, i think disp bought so it would be a scalp

it triggered, but not yield many pts 12:15

<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) 12:21

<NihabaAshi_away> Be back later...going to lunch. 12:47

<eminitrader> Long ES @ 1269.75 12:52

<codehead> dang, that vegas would have been a real nice trade 13:00

on 3 min charts, ES ER and YM have inverted ghosts for potential longs here 13:03

<eminitrader> Long ES @ 1269.75 -> Add 13:08

Exited ES Long @ 1269.25 --> - 0.5 13:23

Reverse and Enter Short ES @ 1269.25

Covered all ES Short @ 1270.25 --> - 1.5 13:25

got suckered on this one :(

Long ES @ 1270 13:27

exit stop set ES @ 1268 13:28

be back 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) 13:33

* Awash_afk is now known as Awash 13:35

<eminitrader> exit stop raised ES @ 1268.50 13:36

Trailing Stop Hit ES @ 1268.50 --> - 1.5

Long ES @ 1268 13:39

exit stop set ES @ 1266 13:42

exit stop raised ES @ 1266.50 13:53

Exited 1/3 ES Long @ 1269 --> + 1 13:55

<szubaark> nice emini 13:59

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<eminitrader> exit stop moved to breakeven ES @ 1268

whipsaw day szu..in the red

Exited ES Long @ 1268 --> 0 14:00

Reverse and Enter Short ES @ 1268

Covered 1/3 ES Short @ 1267 --> + 1 14:01

exit stop moved to breakeven ES @ 1268 14:02

Covered 1/2 ES Short @ 1265.50 --> + 2.5

holding 2 14:03

need 64 for b/e 14:08

Covered Remainder ES Short @ 1264 --> + 4 14:09

<szubaark> nice emini! 14:12

Reversals have been working nice for you

<eminitrader> thx szu..

actually thats how i got into this mess in the first place ..but then t helped me b/e..i think i' ll stick to retracements for now 14:13

niha i think has perfected reversals to an art ..i need to work a lot more on figuring my initial entry for these kind of trades 14:14

<szubaark> yes.. by the time it hits your Stop it already went 1 point against you 14:15

so do you chase? or wait for price to come back? or do nothing? 14:16

<eminitrader> for reversals u mean ?

<szubaark> yes 14:17

<eminitrader> usually its depends on the combination - breaking of key s/r on my chats and price action set-up 14:18

if just breaking of key levels with no price bar set-up then i wait for retracements

like right now waiting to short 67.50 - 69 area 14:19

<Awash> Shorts YM @ 11017 «« paper »» 14:28

<szubaark> Shorts YM @ 11022 14:35

<eminitrader> Shorts ES @ 1267.75 14:38

<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) 14:42

<eminitrader> Covered 1/2 ES Short @ 1266.25 --> + 1.5 14:45

<szubaark> exit stop moved to breakeven YM @ 11022 14:47

<eminitrader> Covered Remainder ES Short @ 1264.75 --> + 3 14:48

<Awash> nice

eminitrader

<eminitrader> thx A

<szubaark> nice emini 14:50

<eminitrader> thx szu .. ending the day in green

<szubaark> nice trading! u caught Longs on way up and Shorts now 14:51

<eminitrader> longs was just a piont szu ...made my money on the shorts today ..missed the am long 14:52

Long ES @ 1266 14:56

1 only

<szubaark> nice triangle on NQ 5min 14:59

watching it

crapp 3pm Consumer credit 15:01

Covered all YM Short @ 11021 --> + 1 15:02

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<Awash> exit stop set YM @ 11022 «« paper »» 15:04

<eminitrader> Exited all ES Long @ 1265.50 --> - 0.5 15:07

<Awash> exit stop lowered YM @ 11016 «« paper »»

<szubaark> Shorts YM @ 11001 15:10

exit stop moved to breakeven YM @ 11001 15:12

<codehead> YM retest lod 15:13

<szubaark> I expect them to get Stops below overnight Lows (10981)

<codehead> mine shows 10979 the low, tapped it again

<szubaark> they got Stops at Highs so far (11040)

<Awash> Covered all YM Short @ 10987 --> + 30 «« paper »» 15:17

<eminitrader> nice

<szubaark> nice Awash. 15:18

<Awash> thanks

<codehead> YM new low

<eminitrader> ym nq new lod es holding so far 15:19

<Awash> i see

<codehead> looked like buyers just under that low tho 15:20

<eminitrader> no new lod on the ES 15:21

<szubaark> Covered all YM Short @ 11000 --> + 1 15:22

<eminitrader> looks like they'll try to get the dow close above 11

11 = 11k 15:23

<Awash> Reversal or Pullback?

<codehead> YM sure looked like folks were waiting to see how much it gave up upon hitting the low stops, and the bids rushed in

<eminitrader> i consider this a pullback ..not a reversal because no retest of low ( es ) 15:24

<szubaark> On Cash Dow,NDX u got Double Bottoms so it could be Reversal..depending on what u looking at 15:25

<eminitrader> Shorts ES @ 1263

1 only

<szubaark> dang.. nice emini. 15:27

<Awash> thanks

<eminitrader> Covered all ES Short @ 1260 --> + 3

thx szu ..sudden selling pressure and with the pullback did a low risk quicke 15:28

<Awash> nice 15:29

<eminitrader> thx A 15:30

<codehead> ES and YM 3 min have potential vegas 15:31

setting up

<eminitrader> these r the kinda of fades i love ..new lod on ym and nq but pullback on es :)

What's a vegas codehead..been wondering sice morn when u mentioned it ? 15:32

<codehead> cci pattern...

reversal pattern 15:33

<eminitrader> oh thx

<PapaJon> what happens in vegas stays in vegas... so they say

<eminitrader> lol

<codehead> cci dives to extremes, comes back up above -110 line, curls back down, but cups back up over 3+ bars, then breaks that last peak

not near trigger tho 15:34

<eminitrader> thx ch ..a bit complicated for me

<codehead> picture of it at http://www.trading-naked.com/woodie8_pat terns.htm#VT 15:35

ER 4 min inv ghost 15:36

nice 5 min inv ghost on ER 15:37

thru the trigger

long ER 709.10 <paper> 15:39

not gonna mess up winning in a choppy close, just trying the ghost

i took it slightly early, so aggressive entry

1 pt stop 15:40

<szubaark> as Woodie would say "Ghosts are 90%+".. heheh 15:41

<codehead> lol

so late int he day, could roll over on margin calls

or could run out of time to famir out of a pb 15:42

<eminitrader> [15:42] <+codehead> so late int he day, could roll over on margin calls - never thought of that 15:43

<codehead> out +1 <paper>

figgered i'd prolly get nervous and bail if i had really taken it

but pattern is still good 15:44

right here is where IB drops the margin, so trades get terminated automatically 15:46

for IB traders

back to where dow sat before yesterday's closing rally 15:50

long YM 10944 <paper>

stop 10934

<szubaark> code Buying yersturday's Low? 15:52

<codehead> lol--honestly, i'm trying to figure out a good justification, but yeah, that's what i was doing

doesn't look promising tho

earlier in the day maybe, but a bad strategy into the close 15:53

<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) 15:54

<codehead> exit YM long +2

<paper>

YM 5 min has a setup for htlb/inv ghost 15:55

3 min YM has a mittens

long way form triggering that one tho

dow cash did bounce that low exactly, so far 15:57

nazlod 15:58

a pt above yesterday's low before closing rally

whew, nice ranges on indices today 16:01

and closing with retests of yesterday's lows 16:03

<NihabaAshi_away> Take care all and see all tomorrow. 16:21

<Awash> later Niha

* DisconnectedSession Close: Wed Jun 07 16:21:57 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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Trading the Open

Most stock traders usually do not trade the first 15mins after the open (0930am - 0945am est) because they believe its one of the worst period of the trading day due to the fact that many stocks are still opening (open orders) even after the opening bell.

Thus, there tends to be increased volatility et cetera.

Further, these same traders when they traverse to trading futures...still keep that mentality of unwilling to trade the first 15mins after the open.

However, futures is a lot different than stocks in that it has an overnight trading session and Europe is still active were there's enough volatility to continue trading normally as if there was no 0930am est open.

I myself use to ignore the first 15mins of trading under the facade that I needed that 15mins to monitor the market closely to give me a stronger understanding of the market.

Unfortunately, this strategy didn't work too well in that my first trade of the day win:loss ratio was less than the win:loss ratio of the trades for the remaining of the trading day.

Yet, recently (since fall of 2005) I've learned how to trade (EuroFX, ER2, ES, NY and YM) the first 15mins much better via paying close attention to the following: Eurex futures, Euronext futures, Oil Index and Gold Index.

Key news of the day

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.

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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