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#FuturesTrades June 7th Thursday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+14.80	+48.90	+1429.30
$1,480	$4,890	$142,930

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Current Performance Record

Disciplined Trading

Profit/Loss Statement

Today's WRB Analysis: There were two key WRBs today that occurred soon after the 7am est BOE Announcement and soon after the 1030am est EIA Natural Gas Report.

I just want to talk about the Dark WRB that occurred after the 1030am est EIA report via the 3min chart interval.

What I liked about this Dark WRB is that there was correlation in the price action with the Oil markets (Natural Gas NG futures) and it remained that way for the remainder of the trading day especially when the Metal markets (Gold and Silver) decided to follow downwards around 1105am est.

This type of price action relationship (intermarket analysis) is what allows traders to ride a trend day to its closure because the real indicator is another type of market or trading instrument and not the Treasury futures that will sometimes produce a false relationship on Oil report trading days especially when the inverse relationship between Treasury and Eminis are the Yields.

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: Thu Jun 07 09:31:24 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:31

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

<eminitrader> Long ES @ 1528

<NihabaAshi> Shorts ER2 @ 835.90 -> large size 09:33

<eminitrader> Exited 1/3 ES Long @ 1529 --> + 1 09:34

<intowin> N ru switching to U today? 09:35

<NihabaAshi> Covered all ER2 Short @ 837.30 --> - 1.4

Not just yet...

Around 10am est I will. 09:36

<intowin> k thanks

<eminitrader> Long ES @ 1528 -> Add

* subq no MP charts today because of rollover 09:40

<szubaark> Buys ES @ 1513.50 «« paper »» 09:41

<NihabaAshi> Long ER2 @ 837.20 -> large size

Long ER2 @ 836.30 -> Add 09:43

<RussellDaytrade> es leading mkt up here 09:44

<eminitrader> Exited 1/2 ES Long @ 1530.50 --> + 2.5

<szubaark> Exited all Long ES at 1516 --> + 2.5 «« paper »» 09:45

<eminitrader> Exited 1/3 ES Long @ 1532 --> + 4

<intowin> nice start

<eminitrader> holding 2

<NihabaAshi> Still no fill :( 09:47

Exited 1/2 ER2 Long @ 838.20 --> + 1.9 09:48

:(

Exited Remainder ER2 Long @ 838.00 --> + 0.8 09:49

I tried something new for contract rollover day...didn't go as planned.

I'm now switching to the new contract.

I thought for sure I'll get a 839.00 exit 09:50

I'm not going to do another trade until I see how the new contract reacts to its first regular session key economic report via the 10am Wholesale Trade report. 09:55

Hopefully the volatility smooths a little and gets rid of the jerky prices that's jumping over levels sometimes by a few ticks. 09:56

<ItalianSharp> smart thing to do niha...i haven't even touched my platform yet today because i've been spending time adjusting all S/R areas in my charts... 09:58

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)

<eminitrader> be back

<ItalianSharp> i can't believe we are in 2007 and futures contracts still rollover...millionaires can take holidays on space shuttles and visit the moon and us traders still rolling over contracts every 3months...doesnt make sense 09:59

<RussellDaytrade> anyone else see that 5700 lot on the er? 10:01

<ItalianSharp> which side RD? 10:02

<PapaJon> huh.. no way rd.. thats humungus

for er

had to be a fat finger

<RussellDaytrade> 8:01:01, on the sell side, I think. 10:03

<eminitrader> Exited ES Long @ 1532 --> + 4 10:04

Reverse and Enter Short ES @ 1532

nice juicy short signal 10:06

Covered 1/2 ES Short @ 1530 --> + 2

<PapaJon> nice et .. :) 10:07

<base> nice one

<eminitrader> thx pj

thx base

<intowin> I was just thinking a red candle is due but missed the move. You da man et

<eminitrader> Covered 1/3 ES Short @ 1528 --> + 4 10:08

<base> What a move.

<eminitrader> holding 2

<jperl> that down push just got my butt out of pickle 10:09

<RussellDaytrade> a graceful exit

<NihabaAshi> Shorts ER2 @ 845.40 -> small size 10:10

<eminitrader> that was a striong sell there base- will see further downmove with new lows - high probability

<jperl> There's a 10:30 EIA Natural Gas Report coming up 10:13

<NihabaAshi> Yep

Some correlation with Oil is starting to show up... 10:14

I'm looking for a lucky exit now.

<base> I am holding long since 16:10:02 / 845.40, already did +2 on the recent uptrend.

<NihabaAshi> punks :( 10:15

Fills today are hard fought and market orders are getting hung out to dry today so far.

<base> Well, -0.5 10:16

<NihabaAshi> A little more downwards and I'll have my lucky exit.

Covered all ER2 Short @ 844.50 --> + 0.9 10:17

Couldn't get that 844.00 price area...grabbed what I could get :( 10:18

<base> I am not so familiar with the price actions seeing last 5-6 days in a row. 10:19

<eminitrader> Covered 1/3 ES Short @ 1527 --> + 5 10:20

holding 1

<base> eminitrader: I am sure you have some insider information we have not. :)

<intowin> keep doing that and you can quit your day job E : ) 10:21

<eminitrader> this is my day job :)

<szubaark> LOL

<Brutus> Long ER2 @ 1527.25 «« paper »»

<eminitrader> no base its just that my read of the flow worked out well 10:22

looks like all stars and planets were in perfect alignment :)

<jperl> ER2 peak volume now @ 844.50

<Brutus> 1pt stop looking for new highs 10:23

<jperl> VWAP @ 845.46

<RussellDaytrade> two more huge orders crossed, on hte old erc ontract, both 3000 lots, I think similar sized orders also crossed on the new er about the same time...horse race.

<PapaJon> er2 volume on u just past m 10:24

<RussellDaytrade> neck-n-neck

<jperl> How about that 1 hour

<PapaJon> rd.. are you lookin at t&s or a dom? 10:25

<base> eminitrader: What kind of chart are you reading? What timeframe?

<RussellDaytrade> right on the button EM. :)

<eminitrader> thx rd 10:26

bar chart primary chart is 3 min

<RussellDaytrade> u r most welcome, thank you, I learned something this am, as usual, that hard way..learned, all the same. 10:27

<base> Thanks, I usually use 1h/5m for trend reading and 1m for executions. 10:28

<RussellDaytrade> er looks up

<eminitrader> thats making the most of a losing trade RD...

i read the flow from the 3 min and its my main chart for set-ups..but i watch the 1,5,15,30,60 only for confirmations and targets 10:30

<RussellDaytrade> do the mkts have one more downside shakeout left in them this am, or is that about it? I am thinking right here we are on the cusp of either or. 10:32

<eminitrader> looks like we can see a bounce of these lows here ...the ES

retest failure this time 10:33

and looks oversold

<Brutus> Exited 1/4 ER2 Long @ 1530.25 --> + 3 «« paper »» 10:35

<eminitrader> nice B

<Brutus> thx e 10:36

<szubaark> good exit B 10:39

<Brutus> Exited all ER2 Long @ 1526.25 --> - 1 «« paper »» 10:40

<NihabaAshi> Long ER2 @ 842.60 -> small size

intuition trade 10:41

<eminitrader> broke the lows this time

<NihabaAshi> Too jumpy for me now. 10:43

<Brutus> Long ER2 @ 842.5 «« paper »»

Exited ER2 Long @ 843.5 --> + 1 «« paper »» 10:45

<NihabaAshi> Exited all ER2 Long @ 843.70 --> + 1.1 10:48

<RussellDaytrade> looking good, lower price, with sell pressures abating, invariably, it always feels like the worst palce to get long 10:49

thats a short term outlook, bigger picture, I think the mkts are due for downside of a more meaningful nature 10:50

<Brutus> Long ER2 @ 842.8 «« paper »» 10:52

er es 5min hammers 10:54

Exited ER2 Long @ 843.8 --> + 1 «« paper »» 10:58

Long ER2 @ 842.8 «« paper »» 11:03

exit stop set ER2 @ 842.2 «« paper »» 11:04

<jperl> Well, I made lunch money this morning..... 11:05

http://charts.dacharts.com/2007-06-07/JP ERL_0142.png

so I think I will take an early lunch

<Brutus> Exited ER2 Long @ 842.2 --> - 0.6 «« paper »» 11:06

<eminitrader> Covered Remainder ES Short @ 1522 --> + 10 11:09

done for the day ...see u all tomorow

<RussellDaytrade> well done

<eminitrader> thx RD

<Brutus> ex e didnt know held that short

<ItalianSharp> wow emini, very well done...it's been a while since your last tenner 11:10

<eminitrader> 10:10:22] <eminitrader> that was a striong sell there base- will see further downmove with new lows - high probability 11:11

yeah thx IS

<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) 11:30

<RussellDaytrade> 7300 lot sell order just now in the er june...I htink that guy is a little late 12:13

I think there is a good possibility the mkts close positive 12:21

<NihabaAshi> Shorts ER2 @ 838.70 -> small size 12:44

Covered all ER2 Short @ 838.50 --> + 0.2 12:45

Had I not hesitated (got greedy), I could have got out at 838.30 instead of getting greedy to try to get 838.00 12:46

<intowin> Long Es 1517.25 tight stop

<NihabaAshi> Shorts ER2 @ 838.00 -> small size 12:47

<intowin> out at 1516.25 -1 12:50

<NihabaAshi> Covered all ER2 Short @ 836.50 --> + 1.5

I've exceeded my profit goals for the day. 12:51

On that note is time for lunch and when I return I will trade via 1 contract 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) 13:33

<Brutus> Long ES @ 1510.5 «« paper »» 13:40

paper on these counter trend 13:41

<intowin> oh the humanity

lol 13:42

<Brutus> Exited ES Long @ 1509.25 --> - 1.25 «« paper »»

Long ES @ 1510.75 «« paper »» 13:48

<eminitrader> rewind a few yrs and it is very much me...tryibg to get a thrill on catching a falling knife :) 13:50

not saying anything here B...just nostalgia

<Brutus> yes thats why its just paper e 13:51

I have learnt that lesson

<eminitrader> u dont want to make it a habit....is it worth even on paper ?

<Brutus> But bond yeilds did start droping 13:52

so saw a potential fuel for a short covering rally

<eminitrader> k....no arguements here ...i guess to each his own

<intowin> E you scouting any pm trades? 13:53

<eminitrader> if any good set-ups ...but no more than 2 lot

<intowin> My puter went down a few times today. If I didnt say it VERY nice job this morning 13:54

<eminitrader> large lot only if there is a change in trend

oh thx bud

<intowin> calling that revers early on was outstandin

<eminitrader> see there was nothing magical abt it...nice early upmove to a fib retrace level that i trade confirmed by price action...high probability set-up...works 90% of the time 13:56

looks like a good entry B :))

<Brutus> Exited 1/2 ES Long @ 1512.75 --> + 2 «« paper »» 13:58

<ItalianSharp> emini, was that fib retracement the 38% one? 14:02

<Brutus> Oh just tell the whole world IS lol :) 14:03

<eminitrader> it was a 50% globex high to low

<RussellDaytrade> amazing there was still left in the es after your tenner!

12 points of

today, that is, not all days are like this, of course 14:04

<eminitrader> true RD...just didn't want to be greedy :)...that apart i never thoght it the move wld be so strong 14:05

<Brutus> I guess e the confluence of those levels just added to the short potential

<eminitrader> exactly B ...that cascading effect provided the fuel

<Brutus> Exited all ES Long @ 1510.75 --> 0 «« paper »» 14:13

Long ES @ 1509.75 «« paper »» 14:18

Exited all ES Long @ 1509.5 --> - 0.25 «« paper »» 14:21

<jperl> market is giving me a headache (literally) so will stop for today... 14:23

P/L here....

http://charts.dacharts.com/2007-06-07/JP ERL_0143.png 14:24

<Brutus> Long ES @ 1511 «« paper »»

<jperl> some small profit for the day....

<Brutus> Exited all ES Long @ 1509.5 --> - 1.5 «« paper »» 14:25

looks light to the upside 14:26

<RussellDaytrade> EM, care to lead us off with a celebratory long, to help usher in a change of trend?

<Littman> yes is true

<RussellDaytrade> :)

recognizing, of course, that 1)it's still too early, and 2) it's not your style. 14:27

<Brutus> Long ES @ 1510.25 «« paper »» 14:34

<eminitrader> not yet rd ... 14:35

<Brutus> Exited all ES Long @ 1510.75 --> + 0.5 «« paper »»

<Littman> way not emini? 14:36

<eminitrader> no reason to go long ...as far as i'm concerned trend still bearissh

<RussellDaytrade> ooh, nice candle there just now on er 14:37

<Brutus> Long ES @ 1510.25 «« paper »»

<RussellDaytrade> 1 minute candle...ah, got stopped in its tracks, first glimmer 14:38

<eminitrader> on that note...the mrkt can only move so much with a pullbackto release some pressure ...but i dont want to be guessing from where the pullback starts ...

thats the reason no long yet L...hope it helps

<RussellDaytrade> np, I underastand, :)...I have have guessed 3 times so far today, what's one more? :) 14:39

<Brutus> Exited all ES Long @ 1511 --> + 0.75 «« paper »» 14:41

<RussellDaytrade> I'm going to be green before this day is over 14:44

green, left 1 as a runner 14:46

if this gets traction, I got 832.5, (still using the june for numbers, add 7.5 for the sept 14:47

<Littman> me be is time to go short on ES 14:50

<eminitrader> not yet 14:51

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maybe wrong but if it goes down now may bounce up again 1511-50-1513 14:52

<Littman> what pattern hoping to go short? 14:55

<RussellDaytrade> I think if the mkt was gonna fall apart below the lows and extend, it woulda done so by now, and have been already on it way 14:56

<eminitrader> 1518 with 4 tick stop

also can go long in the area listed above - maybe 2-4 pts there 14:57

<Littman> thanks emini. 15:00

<eminitrader> urw

<RussellDaytrade> ma lines should hold 'em in here 15:02

those !@#$%^&* bears pst me off today, they're as bad as bulls in a china shop 15:04

<eminitrader> looks like a sell here Es ...sbut need stop 1618.50

oops 1518.50

Shorts ES @ 1515.75 15:06

2 only

Covered 1/2 ES Short @ 1513.75 --> + 2 15:07

exit stop moved to breakeven ES @ 1515.75 15:08

<werner> nice emini, gn all

<eminitrader> Covered Remainder ES Short @ 1515.75 --> 0 15:09

Shorts ES @ 1515.75 15:10

<Brutus> maybe up till 1530 then down e 15:11

<RussellDaytrade> alright, never say die

<eminitrader> trend still down...

<RussellDaytrade> :)

<Brutus> 1530 time 15:12

<RussellDaytrade> the sept is lagging the june in here 15:15

<eminitrader> Shorts ES @ 1518.25 -> Add

<RussellDaytrade> sold it, flat, within .5 of my targets 15:16

<eminitrader> Covered 1/2 ES Short @ 1515.75 --> + 2.5 15:19

thats a b/e on 1 lot

exit stop moved to breakeven ES @ 1518.25 15:21

<RussellDaytrade> I am done trading for today, trading less efficiently than I like 15:23

about time for another gaff up in here

to extend into the full targets 15:24

<eminitrader> thats the high.. ES prolly out of gas

<RussellDaytrade> yes, looks like it, ma lines right under, so may hold 15:25

<Littman> test with biodiesel! 15:26

<RussellDaytrade> no new lows this afternoon, a small positive for tomorrow 15:28

<eminitrader> L did u tahe the sell @ the 1518 area 15:29

<intowin> I got the sell at 838.70 for er thanks to your es call E 15:30

<eminitrader> had 4.5 pts ...was looking for 5 ..looks like i missed it

<intowin> overall day still feels dreery 15:31

<eminitrader> just be careful intowin - just dont go blindly with my calls...make ur assumptions too before placing a trde

<intowin> Oh I do man. I have stops in place 15:32

on every play

<eminitrader> k as long as u r aware of that

good trade by the way :))

<intowin> We think a lot alike however. Your area to short was the same as mine. You just helped confirm it 15:33

<RussellDaytrade> in case anyone besides little ole me was paying any attention, (apparently not), sept traded to 839.9, within 1 tick of my target...832.5 plus 7.5, not too bad, if I say so myself.

<eminitrader> good for u RD ...did u trade that 15:36

<RussellDaytrade> indeed I did, was long from earlier, before fianl lows 15:37

<eminitrader> :))

I find it more difficult to make money on the long side on days loke this...good one 15:38

<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) 15:39

<eminitrader> got my 5 ..will hold for some more and see how it turns out 15:41

stop moved to 5 pts @ 1513.25

<intowin> covered 835.80 + 3 all out 15:42

<eminitrader> i will prolly get out here too

<intowin> Very good day guys... Cya in the morn

<eminitrader> Covered Remainder ES Short @ 1512.25 --> + 3.5 15:43

done for the day ..see u all tomorow 15:45

<RussellDaytrade> they're still gunning for the es, amazing, guess them bears got unionized after all 15:56

this is going to start getting interesting tomorrow 16:00

* DisconnectedSession Close: Thu Jun 07 17:31:24 2007 17:31

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