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#FuturesTrades June 8th Friday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+24.80	+73.70	+1454.10
$2,480	$7,370	$145,410

click on image to view actual size

Current Performance Record

Intermarket Analysis

Profit/Loss Statement

Today's WRB Analysis: The best breakout traders are consistently profitable because they also know when to fade a breakout price action and/or use the breakout as a key s/r zone.

Take a look at Russell 2000 Emini ER2 3min chart @ 1345pm est and you'll see a White WRB that broke to the upside as a new intraday high at the time of its price action.

Had you gone long on the breakout you would have been trapped in the trade for the next six intervals until a bullish pattern signal showed up @ 1403pm est as a White WRB.

Do you recognize the bullish pattern signal within the s/r zone of the prior White WRB?

Regardless whether you recognize the pattern signal or not...the issue is to recognize the key WRB and to understand its price action as shifts in supply/demand occur.

It took me a few trades of small losses on small size positions to recognize what was developing to prompt me to go to a large position when that bullish pattern signal showed up @ 1403pm est as shown in the below chat log.

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: Fri Jun 08 09:26:08 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:26

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

<PapaJon> gm all

<szubaark> gm

<pat255> gm all...was out of town for 3 days .. 09:28

<jperl> ER2 1 year VWAP at a critical pivot point....

<pat255> hmmm dang what a drop..

<jperl> 1st Standard Deviation 824.55 shown here are the 1 year chart... 09:29

http://charts.dacharts.com/2007-06-08/JP ERL_0144.png

<intowin> sold es@1508.50 +6 : ) 09:34

<eminitrader> anyone having pbs with tradestation ES charts for U contracts ?

<szubaark> fine here 09:35

<eminitrader> thx szu

my NQ and Ym are fine ? wonder 09:37

<NihabaAshi> Shorts ER2 @ 832.50 -> large size 09:38

<szubaark> Shorts ES @ 1505 «« paper »» 09:41

<NihabaAshi> I'm at a WRB profit target 1 right now... 09:42

<pat255> vn entry niha ...still trying to get feel..

<NihabaAshi> Will get greedy becaue it has a better chance to go a little lower.

<szubaark> exit stop set ES @ 1505 «« paper »» 09:43

<Brutus> spx at 50 day ma

<NihabaAshi> Covered all ER2 Short @ 830.30 --> + 2.2

<PapaJon> nice one niha 09:44

<NihabaAshi> Too bad it wasn't my normal large size...

I was on the light side of a large position.

Trading Edge:
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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)

<szubaark> Covered all Short ES at 1505 --> 0 «« paper »» 09:48

<intowin> long es 1503.75

sold es @ 1508.75 +5 for the second time this morn! 09:50

<szubaark> nice

<RussellDaytrade> up 1070, left 1 long runner. :) 09:51

<eminitrader> very nice

<intowin> 2 trades up ten

<eminitrader> excellent :))

<RussellDaytrade> still a buyu, just getting going

<intowin> on the long side but I am bearish on the day lol

<pat255> u guys switched to sep ctcts? 09:53

<PapaJon> yes pat 09:54

<NihabaAshi> Nice bouce back to the upside to make new intraday highs.

<pat255> ty

squeeze ... 09:55

<eminitrader> Shorts ES @ 1510.50 09:58

<intowin> nice call 10:01

<eminitrader> Covered 1/3 ES Short @ 1507.50 --> + 3

<RussellDaytrade> alrightr! added at 832.6 10:02

<eminitrader> Shorts ES @ 1509 -> Add

<werner> gm all 10:03

<Brutus> ER is bipolar

<NihabaAshi> Agree

<base> gm all 10:07

<eminitrader> Shorts ES @ 1511 -> Add 10:11

<szubaark> Shorts ES @ 1510.25 «« paper »» 10:12

<intowin> I think one more push higher

<PapaJon> filled yest wrb gap 10:13

er2 that is 10:14

<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) 10:21

<Brutus> still looks long after 10:30 this may go vertical

<ItalianSharp> wow, what a battle in the trenches right now 10:36

looks like perfect equilibrium...still slightly bearish to me

<szubaark> Covered all Short ES at 1509.25 --> + 1 «« paper »»

<ItalianSharp> now buyers coming aggressively 10:38

<Littman> 1505 is a good price to test 10:39

<ItalianSharp> i'm starting to believe we are going to see a spike to the upside 10:40

bears had many chances but failed miserably thus far

<pat255> yes IS.. 10:43

<Brutus> good BO trade from this range 10:44

<ItalianSharp> I must say the whenever the bulls look like they are gonna break it to the upside, the bears step in and hold them down... 10:46

it's a clear battle right now...tough trading for who's in the market...lots of patience needed

<NihabaAshi> Shorts ER2 @ 838.10 -> small size 10:48

2 contracts only...trying something different that's outside of my normal trading plan. 10:49

Covered all ER2 Short @ 837.00 --> + 1.1 10:52

<Littman> in the eye of the storm

<NihabaAshi> I think so too 10:53

I think I just stole a decent short from a price movement that's becoming more bullish.

<pat255> yes niha ...hesitate to S.. 10:54

<Littman> today it is Friday, is possible that the bears win

<ItalianSharp> i'm not trading within this range...need a breakout either side...unless you play the range and fade each edge

<jperl> lost my interconnect connection.... 10:55

was in the middle of trade....

<pat255> :(

<jperl> fortunately had stop and profit target in place

<intowin> you didnt miss much

<jperl> profit target was hit 10:56

<intowin> bb bands getting tight so should be a decent move

<pat255> for eac trade u put that in jper?

<ItalianSharp> nice jperl:)

<pat255> eac=each

<jperl> yes

always do

<pat255> hmmm v good point..

<szubaark> Buys ES @ 1507.75 «« paper »» 11:02

<eminitrader> Covered 1/3 ES Short @ 1507.50 --> + 3.5

<szubaark> Shorts ES @ 1505.75 «« paper »»

<ItalianSharp> nice patience emini, i'd almost forgotten you were short...lol 11:04

<intowin> agreed I figured another push up before short profit 11:05

<eminitrader> thx IS 11:06

i was biased towrds the trend which is short ...reason why i held was ...1512 on the ES is exactly 60% fib from yesterdays move in the last hr...resistance there held 11:08

Covered 1/3 ES Short @ 1507 --> + 3.5

downtrend is now confirmed with the break of 1506.75 11:09

<pat255> vn emini ...patience to hold it .. 11:10

<eminitrader> so feel free to short ...at least till the pm session..where ever u guys enter stop is 1512.25...good luck

thats the ES i'm referring to guys... 11:11

also do ur own analysis before placing a trade ...what i said above was just my read of the mrkt flow and i have been wrong umpteen number of times

<ItalianSharp> emini, i love your disclaimers coming after you express a personal bias on ES...lol 11:12

you just never know...someone might sue you... 11:13

<eminitrader> cuase i have recieved pms saying they follwed me on some trades...

<RussellDaytrade> just now reaching down t on er near 834.11

<Littman> thanks to share your strategies

<eminitrader> urw L 11:14

<intowin> yes very helpful

<szubaark> Covered all Short ES at 1506 --> - 0.25 «« paper »»

wrong...

<eminitrader> Covered 1/3 ES Short @ 1505.25 --> + 5.25

holding 3

<szubaark> Shorts ES @ 1507.75 «« paper »»

Covered all Short ES at 1506 --> + 1.75 «« paper »»

<eminitrader> nice szu 11:15

<szubaark> thnx..

<eminitrader> ym test of lows ...that the bounce effect on the Es 11:16

nice opportunity to add on the sell side ES

1508-50-1510. area 11:17

fyi - the globex chart still has a long bias - in contradiction - i wld cut down size -also today being a friday adds to a lot of noise 11:22

* fseitun is now known as ItalianSharp 11:24

<eminitrader> Shorts ES @ 1509.75 -> Add 11:43

now holding 5

<RussellDaytrade> looks like the bulls are in control 11:46

<ItalianSharp> agree RD

<eminitrader> not yet in the ES - 1512 needs to be taken out for me to get long 11:48

<szubaark> Shorts ES @ 1510 «« paper »» 11:56

<intowin> bulls wont be satisfied until one more push up. I am still holding out for my short

sure not going long however.. 11:57

<ItalianSharp> yep, i agree...bulls are desperate to get another push

i'm going for lunch break now...be back after 1.30pm and see where we are at 11:58

<Littman> good price to go short on Es 12:01

<eminitrader> looks like the ceiling for todays high has been decided @ 1512 - well at least for the am session :))

true Es very low rik at these levels 12:02

<Littman> 1507 is a good price to test 12:11

<eminitrader> agree 1508 area will be the first level if it comes down then the 1505 if that breaks can see a lot of selling pressure 12:13

* ItalianSharp is now known as ItalianSharp_afk 12:15

* ItalianSharp_afk is now known as ItalianSharp 12:16

<szubaark> exit stop set ES @ 1510 «« paper »»

* ItalianSharp is now known as ItalianSharp_away 12:17

<szubaark> either goes or im OUT

<eminitrader> safe one szu

<szubaark> Covered all Short ES at 1510 --> 0 «« paper »» 12:19

<eminitrader> if it manages to get thru to test the highs - it will brek thru this time - high probability

<szubaark> yeah its Friday you never know 12:20

<eminitrader> yeah adds to the panic 12:21

<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) 12:27

* PapaJon is now known as PapaJon_afk 12:45

<PapaJon_afk> bye all.... have a great weekend 12:46

<GoodMood> bye Papa

* codehead_afk is now known as codehead 13:09

<Littman> well, this is the time to go to 1505 13:17

<szubaark> Buys ES @ 1510.25 «« paper »» 13:27

<intowin> I will b real suprised if this push doesnt do it.

<szubaark> about time

1512 strong Wall 13:29

<intowin> yeah if they cant do it this time they may as well go home.. 13:32

<RussellDaytrade> oil plunging, that soon be reflected in higher equity prices 13:35

<szubaark> exit stop set ES @ 1510.25 «« paper »»

Exited all Long ES at 1513.25 --> + 3 «« paper »» 13:37

<eminitrader> nice one szu 13:41

Covered all ES Short @ 1512.25 --> - 4.25

late post

<intowin> bulls now have their necks exposed imo That was the last push I was waiting on. now looking for short op...

hang in there E gotta take the - with the + 13:42

<eminitrader> lons now

longs

<RussellDaytrade> trend change just occured, shorts here are very low prob, better to go long late than short early in trend. :) 13:43

plain to see if you look at bigger picture 13:44

<eminitrader> Shorts ES @ 1515.25 13:45

<intowin> I am riding this one with you Es. I agree for at least a couple pts 1516 stop 13:46

<eminitrader> my stop stop 1515.75 13:47

* ItalianSharp_away is now known as ItalianSharp

<szubaark> i would look for any pullback to get Long since we brokje out of this "triangle" 13:49

<NihabaAshi> Long ER2 @ 938.80 -> small size 13:53

2 contracts only

Ooops...wrong entry price...838.80 and not 938.80 13:55

Long ER2 @ 838.80 -> small size 13:56

Exited all ER2 Long @ 838.10 --> - 0.7 13:58

Shorts ER2 @ 838.00 -> small size 13:59

3 contracts 14:00

Covered all ER2 Short @ 838.50 --> - 0.5 14:02

Long ER2 @ 838.70 -> large size 14:03

<eminitrader> Covered all ES Short @ 1515.25 --> 0 14:04

<NihabaAshi> It took a few trades to get a feel for the s/r zone within that big White WRB of 1:45pm est 14:05

<intowin> 1516 stoped 14:06

<NihabaAshi> Exited 2/3 ER2 Long @ 840.20 --> + 1.5

Once I figured out the price action in that WRB S/R Zone... 14:07

I went to large position size.

By the way, I'm using the 3min chart for this particular trade to see my WRB s/r zones. 14:08

Exited ER2 Long @ 841.10 --> + 2.4

Holding 1 contract remainder

Exited Remainder ER2 Long @ 842.60 --> + 3.9 14:10

<szubaark> Nice.

<NihabaAshi> Thanks :) 14:11

<eminitrader> real nice

<intowin> nice 14:12

<eminitrader> Shorts ES @ 1518.25

WRB Analysis

Learn More

<NihabaAshi> If I wasn't on the light side of that large position...I would have tried for an exit around 843.20 with the extra remainders if it was a normal large size position. 14:13

<eminitrader> expect a pullback from here - how much not too sure but willgo longbetn 1510.50 and 1513.25 14:14

<RussellDaytrade> pa is textbook

<eminitrader> this was the area where ES well for new lows yest

<szubaark> Shorts ES @ 1517.50 «« paper »»

<eminitrader> also 50% fib retracement of yest move 14:16

Covered 1/2 ES Short @ 1516.25 --> + 2 14:18

Covered Remainder ES Short @ 1518.25 --> 0 14:28

<Littman> short in 1517, is a very low risk

<eminitrader> got taken had a nice entry :(( 14:29

<szubaark> yup..fakeout

<eminitrader> shit happens ...

<szubaark> yeah.. u still got +2 out of that :) 14:30

<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)

<eminitrader> thats true

another 1.5 and i wld have made up for that earlier loss 14:31

<Littman> 1514 is the next step 14:32

<szubaark> Covered all Short ES at 1515.75 --> + 1.75 «« paper »» 14:33

<eminitrader> go szu..:) 14:34

3 straight winners today :)

<szubaark> 4 :))

<eminitrader> my bad

<ItalianSharp> yeah szu, since you've switched to ES things seem to have gone better for you...do you confirm? 14:35

<szubaark> yes.. emini showing me things i overlooked.. 14:36

<ItalianSharp> well, emini and niha are always worth listening to...no offense to other members in here, but these two guys rock! 14:37

<RussellDaytrade> congrats are indeed in order...out of 115 trading days since first of year, that you have an actual winning day is indeed a grand accomplishment. congrats, with some more of that good luck, you may be able to string three whole winning days this year!

<eminitrader> now u guys r embarssing me - tRd has some good analysys too

<RussellDaytrade> lol

<intowin> Have a water skiing party. Heading out. Good trading guys.. 14:39

<ItalianSharp> RD definetely provides good points whenever he posts his stuff...like most of the other members in here...however, niha and emini post winners on a daily basis showing great consistency

<eminitrader> later into

<szubaark> well of course you never have losing days... you tell the frikin market where to go 14:40

<ItalianSharp> szu and RD, dont go at it again please...it's friday for godsake and we are all in here to make money and possibly help each other out

<szubaark> he started it AGAIN. 14:41

<eminitrader> Long ES @ 1515.25 14:42

<ItalianSharp> markets look like they want to go for new highs here

emini, do you have a bullish bias right now?

<eminitrader> for a scalp and posible retest of high 14:43

<RussellDaytrade> alright, I had my fun, glad to see you are trading better, keep it up...

<ItalianSharp> there you go RD

we should all cheer for one another in here

<eminitrader> nice job mediating IS - :)) 14:44

<szubaark> yup..keep this room clean

<RussellDaytrade> thx EM and IS

<eminitrader> Exited 2/3 ES Long @ 1516.25 --> + 1

<RussellDaytrade> good luck and good trading all

<eminitrader> that made up for my earlier loss... 14:45

now have a 2 tick stop--on 2

thx for what RD ? 14:46

lets all make some moolah mean real moolah !!!!!!

<RussellDaytrade> I ahve not opened a short trade in over a week, and while I am tempted too do so, feel it's still too early... 14:54

entered long again at this pm's BO, but closed it on a wiggle down, just got a nice piece of this am's runup, mostly flat all day after that. 14:55

<eminitrader> Exited Remainder ES Long @ 1516.75 --> + 1.5 14:56

i'm done...have a good wkend all see u mon 14:57

<szubaark> bye

<RussellDaytrade> gonna try waiting for about another day or two to begin shorting, if mkt acts as I expect, climbs some more, perhaps even accelerating some Mon/Tues, in a general way

so long EM 14:58

<ItalianSharp> i'm done for the day...great day today, volatility was great and it paid off...catch u all on monday, have a good weekend all 15:20

<RussellDaytrade> arrievederchi 15:21

<werner> good wk all 16:04

its here 22.05 16:05

and its dark

cya 16:07

<base> Nice weekend to all 16:15

<NihabaAshi> It's nice to see a strong price movement (up or down) that ends the week of trading. 16:32

<RussellDaytrade> have a good weekend all

<NihabaAshi> Makes for good homework assignments while reviewing the markets over the weekend. 16:33

Take care RD and all...have a good/safe weekend.

* DisconnectedSession Close: Fri Jun 08 16:33:50 2007

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