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#FuturesTrades June 11th Monday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+8.50	+82.20	+1462.60
$850	$8,220	$146,260

click on image to view actual size

Current Performance Record

Forex Revolution

Profit/Loss Statement

General Chat Room/Log Info: The above points along with profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi) only and all trades were posted in realtime as shown in the below chat log.

Also, #FuturesTrades is free to any trader and I am the only trader in #FuturesTrades that represents TheStrategyLab.com

My main function in #FuturesTrades is to be the moderator and I use the chat room as more eyes on the markets to help prevent missing critical market info that have impact on my trades.

#FuturesTrades is not a signal calling chat room and all users are required to post at least one trade (real money or simulator) per day of use.

General Strategy Info: Although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based (no subjectivity) methodology that involves WRB Analysis.

However, I use 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.

All of my trades and commentary for today's market action (posted below) are via the user name NihabaAshi (Japanese Candlestick term) and I exclusively trade the Russell 2000 Emini ER2 futures even though I closely monitor other key markets in the world.

To learn more about my methods, the links below will provide the info you need.

Trading Reports (fee-based content for traders that want access to our reliable/profitable strategies)

WRB Analysis Tutorials (free and fee-based content to help improve your own strategies)

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.

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: Mon Jun 11 08:15:25 2007Session Ident: #futurestrades

* Now talking in #futurestrades 08:15

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

#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) 09:00

* subq market profile charts for today 09:15

http://www.charthub.com/images/2007/06/1 1/er2_mp_rth.png

http://www.charthub.com/images/2007/06/1 1/es_mp_rth.png 09:16

http://www.charthub.com/images/2007/06/1 1/nq_mp_rth.png

http://www.charthub.com/images/2007/06/1 1/ym_mp_rth.png

<jperl> This mornings ER2 VWAP pivots shown here..... 09:26

http://charts.dacharts.com/2007-06-11/JP ERL_011.png

<PapaJon_afk> gm all 09:27

* PapaJon_afk is now known as PapaJon

<jperl> overnight low @839.20, overnight high @ 843.40

<base> gm all

<pat255> gm all.. 09:35

<eminitrader> Shorts ES @ 1521.75 09:41

Shorts ES @ 1522.75 -> Add 09:43

<szubaark> Shorts ES @ 1522.25 «« paper »» 09:44

<eminitrader> Covered all ES Short @ 1524.25 --> - 4 09:47

<szubaark> Covered all Short ES at 1525.50 --> - 3.25 «« paper »» 09:48

<eminitrader> Shorts ES @ 1524.75 09:53

<szubaark> Shorts ES @ 1524 «« paper »» 09:55

<eminitrader> 1526 is the first fib level from the the start of the huge downmove to the lows 09:56

prolly see some chop in this area ...next fib level is 1530.50 09:57

<NihabaAshi> Shorts ER2 @ 842.70 -> small size 09:58

2 contracts only

I'm only looking for 842.00 on this trade. 09:59

<eminitrader> mine is 10

<NihabaAshi> Covered all ER2 Short @ 841.60 --> + 1.1 10:01

Caught a WRB pt1 instead of my initial profit target goal.

<eminitrader> Covered 1/2 ES Short @ 1522.75 --> + 2 10:03

damn partial fill on the half 10:04

<jperl> ER@ @ VWAP 840.40

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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> Covered ES Short @ 1512.75 --> + 12 10:12

Reverse and Enter Long ES @ 1512.75

oops

Covered ES Short @ 1521.75 --> - 9

Reverse and Enter Long ES @ 1521.75

<szubaark> Covered all Short ES at 1521.50 --> + 2.5 «« paper »» 10:13

<intowin> Long ES @ 1521.50

covered es @ 1520.50 -1 10:16

<NihabaAshi> Long ER2 @ 838.10 -> large size 10:21

ER2 should have bounced by now... 10:23

I'm preparing to dump if needed.

<eminitrader> Long ES @ 1519.75 -> Add 10:24

<NihabaAshi> Exited all ER2 Long @ 837.70 --> - 0.4

Long ER2 @ 837.90 -> large size 10:25

Trying one more time.

<jperl> ER2 peak volume now 838.30 10:26

ER2 pausing at peak volume 10:29

<NihabaAshi> Long ER2 @ 837.60 -> Add 10:30

<jperl> would like to see a move here back up to VWAP @ 839.85 10:31

<RussellDaytrade> me three

<NihabaAshi> :( 10:32

Exited all ER2 Long @ 837.30 --> - 0.9

Shorts ER2 @ 837.00 -> large size

Normal large size short position 10:33

<intowin> short es 1519.75 10:34

<RussellDaytrade> er lagging es in here, may do catch-up 10:35

<NihabaAshi> Covered all ER2 Short @ 837.40 --> - 0.4 10:37

I'm getting hit nickled and dimed here... 10:38

<eminitrader> be back ..

<NihabaAshi> Something has to give for me soon :)

Long ER2 @ 837.30 -> large size 10:39

<szubaark> we are due for a Volatility spike soon, but which way? :)) 10:41

<jperl> peak volume now 837.90

Friday VWAP 837.88 10:42

1 week VWAP 838.41

Need some hefty buying volume to get through these 10:43

<NihabaAshi> ER2 volatility declining fast...

I'm expecting a volatility spike here soon.

Hopefully, in the direction of my trade.

837.70 is a WRB pt1 as a shallow WRB :( 10:44

Spike downwards 10:45

Long ER2 @ 836.90 -> Add

<szubaark> Buys ES @ 1520.50 «« paper »» 10:46

<NihabaAshi> Geesh :( 10:49

Exited 1/3 ER2 Long @ 837.70 --> + 0.8 10:50

<RussellDaytrade> I have an up t of 840 with about 3-5 minutes remaing, sure would enjoy if it ramps up 2 bucks in a few minutes, helps to validate my work. :) 10:51

<eminitrader> Exited 1/2 ES Long @ 1521.25 --> + 1.5 10:52

<NihabaAshi> Exited all ER2 Long @ 837.70 --> + 0.4

<eminitrader> Exited ES Long @ 1521.25 --> - 0.5 10:53

Reverse and Enter Short ES @ 1521.25

<NihabaAshi> Long ER2 @ 837.80 -> medium size 10:54

<RussellDaytrade> feels like its firming from underneath in here

<szubaark> exit stop set ES @ 1520.50 «« paper »» 10:55

<NihabaAshi> Changing my game plan a little...I'm no longer going after WRB targets.

Will use a none WRB s/r zone as a target. 10:56

<szubaark> Exited all Long ES at 1521.50 --> + 1 «« paper »»

<NihabaAshi> Come on...a few more ticks to the upside. 10:57

<jperl> VWAP 838.13

839.13

<NihabaAshi> Exited all ER2 Long @ 838.80 --> + 1 10:58

<RussellDaytrade> er has yet to embark into an accelertion phase...may be indicative of more up yet to unfold

<jperl> ER2 @ VWAP finally 11:00

<RussellDaytrade> closing long on scale

<NihabaAshi> That gets me profitable for the day...enough to buy Sushi for lunch.

<intowin> covered es short @ 1522.75 -3

<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> Shorts ES @ 1522.25 -> Add 11:01

<NihabaAshi> Be back later...going to take a long lunch break to eat and do some personal stuff.

* NihabaAshi is now known as NihabaAshi_away

<jperl> I'm done for the morning....P/L here....

http://charts.dacharts.com/2007-06-11/JP ERL_012.png

<RussellDaytrade> all out, flat, didn't care for that acceleration, got within .5 of target, although a couple minutes late, have to se about that. :) 11:02

<intowin> shorts es @ 1522.00 one more try 11:04

covered es 1523.75 -1.75 11:27

<eminitrader> Covered all ES Short @ 1523.75 --> - 4

:((

<intowin> yep

<eminitrader> looks like one of those days

Shorts ES @ 1523.75 11:40

Covered all ES Short @ 1524.75 --> - 1 11:41

that was superfast..

<intowin> Long er 841.10 11:42

trying long side : )

<Brutus> 13:00 6-Month Bill Auction 12:05

and 3-Month Bill Auction 12:06

<intowin> stops r in heading to different computer bbl 12:27

<Brutus> Shorts ES @ 1527.27 «« paper »» 12:49

exit stop set ES @ 1529.75 «« paper »» 12:52

<intowin> sold er 844.10 + 3 that took care of my earlier blunders 12:53

<RussellDaytrade> that move just now tells me mkt has another day or two of upside 12:56

<intowin> prob new highs this week

<RussellDaytrade> new highs too far away pricewise, I actually expect new highs to be a failure 12:57

<Littman> this is time to go short on ER 13:01

<Brutus> Covered all ES Short @ 1527.75 --> - 0.48 «« paper »»

thats a BE trade

<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) 13:03

<eminitrader> Shorts ES @ 1531 13:19

2 only will add in increments 13:20

<intowin> pretty small pullbacks so far 13:21

<eminitrader> yep..daily trend is up...

* codehead_afk is now known as codehead 13:22

<eminitrader> mean the days trend so far

<intowin> Same page 13:23

<eminitrader> hey congrats ! nice comeback

<intowin> yep break even on the day. Now I hope to grab a little something 13:24

<RussellDaytrade> looks down in hwere 13:38

a grudgingly down move, I expect it to be, if I were to place a characterization on it 13:39

<intowin> Long ER 844.20 843.60 stop 13:49

<eminitrader> Covered all ES Short @ 1529 --> + 2 13:50

* NihabaAshi_away is now known as NihabaAshi 13:53

<NihabaAshi> Nice run to the upside...anybody catch some good points on the way up ? 13:54

<eminitrader> Long ES @ 1528.75

<intowin> I got 3

ER

<NihabaAshi> Looks like I picked a bad time to go shopping for some home repair supplies. 13:55

<intowin> Stopped out ER 843.60 -.60 13:57

<RussellDaytrade> closed short, flat 13:58

first short in a while, looks like it may accelerate into lower targets 13:59

<eminitrader> Exited ES Long @ 1528.75 --> 0 14:02

Reverse and Enter Short ES @ 1528.75

Covered ES Short @ 1528.75 --> 0 14:06

Reverse and Enter Long ES @ 1528.75

following the NQ here ... 14:07

<intowin> Long Er 844.10 14:08

* Fleneer is now known as Desert_Flen 14:09

<szubaark> Shorts ES @ 1530 «« paper »» 14:10

<eminitrader> Exited 2/3 ES Long @ 1531 --> + 2.25 14:13

Long ES @ 1528.75 -> Add 14:15

<Littman> wow

<szubaark> exit stop set ES @ 1531.50 «« paper »» 14:16

<eminitrader> reason i;m not selling here is that the trend is up today ...although its a good res area...chances r this uptrend may brek thru the res whichich i see upto 1536 .. 14:19

will sell if there is a change in the mrkt flow confirminf the downtrend at these levels...otherwise will stick to longs 14:20

<NihabaAshi> Shorts ER2 @ 844.00 -> small size

2 contracts only because I don't have a good feel for the price action after missing that upmove.

<eminitrader> mrkt flow says higher highs have a larger probability than lower lows

<jperl> ER2 keeps bouncing off the VWAP 1st STdDEv near 843.50 14:23

<NihabaAshi> Shorts ER2 @ 844.60 -> Add 14:25

total of 4 now.

<RussellDaytrade> this price structure may begin to break down 14:27

<jperl> common sellers, push 14:28

<NihabaAshi> Covered 1/2 ER2 Short @ 843.80 --> + 0.8

that's a late post

:( 14:30

ER2 volatility drying up...

I'm expecting a volatility spike here soon.

Hopefully in the direction of my trade.

<jperl> keeps bouncing off that 1st StdDev

<NihabaAshi> Covered Remainder ER2 Short @ 843.90 --> + 0.1

<RussellDaytrade> and accelerate into a lower target...I have a bullish preference short-term (a couple days), (bearish longer term, weeks -to -months), so, the immediate bias (bullish) is currently superceding the larger-scale bias... 14:31

<NihabaAshi> :(

<eminitrader> my thought RD :)

<NihabaAshi> ER2 keeps probing that WRB s/r zone of the 2:02pm est price action on the 2min chart. 14:32

<RussellDaytrade> either way, mkt has rallied enuf since Fridays lows to support some more giveback in here, I have 839.8 area, it just feels reluctant to get going there

<jperl> finally 14:33

down below 1st stddev

<RussellDaytrade> all that said, er it appearing like a 'sailfin' patterening, where it may begin to accelerate downward.

<eminitrader> never know when the trend will change

<szubaark> exit stop set ES @ 1530 «« paper »» 14:34

<eminitrader> Exited all ES Long @ 1528.25 --> - 1 14:35

<jperl> i've had enough of this price action.....done for the day.... 14:36

P/L here....

http://charts.dacharts.com/2007-06-11/JP ERL_013.png

<szubaark> Covered all Short ES at 1528.50 --> + 1.5 «« paper »»

<eminitrader> Long ES @ 1528.25

large size

<NihabaAshi> Shorts ER2 @ 842.70 -> medium size 14:42

intuition trade

<eminitrader> exit stop raised ES @ 1527.25 14:44

<NihabaAshi> Covered all ER2 Short @ 843.20 --> - 0.5 14:45

Long ER2 @ 843.00 -> large size 14:46

Exited all ER2 Long @ 842.20 --> - 0.8 14:48

<intowin> Stopped out ER 841.90 -2.20 14:49

<NihabaAshi> Shorts ER2 @ 842.20 -> large size

<eminitrader> Exited ES Long @ 1528.25 --> 0

Reverse and Enter Short ES @ 1528.25

20 contracts

<intowin> let em rige

ride 14:50

<RussellDaytrade> if that es doesn't play-along on the downside, it is unlikely er will achieve my target arae near 839.8...it looks like es doesn't wanna paly

<eminitrader> Covered ES Short @ 1528.25 --> 0 14:52

Reverse and Enter Long ES @ 1528.25

same size

last trade ...way too much in commisions

looks like new highs now or a chop..dont see break of supp at least today on the ES 14:53

<NihabaAshi> missed my add price :( 14:54

<intowin> Last trade Long ER 842.80 rough day 14:56

<NihabaAshi> Shorts ER2 @ 842.80 -> Add 14:57

<eminitrader> looks like Es is waiting for NQ to make its move 14:58

<NihabaAshi> I'm not trading these s/r zones too smartly... 14:59

Will leave them alone after this trade. 15:00

<eminitrader> Exited ES Long @ 1528.25 --> 0

Reverse and Enter Short ES @ 1528.25

5 only

<NihabaAshi> Covered 1/2 ER2 Short @ 841.80 --> + 1

<intowin> out 841.80 -1 15:01

<eminitrader> nice niha...

<intowin> glad someone is on the right side : )

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<eminitrader> shld have taken some when i had around 5 ticks

<NihabaAshi> :( 15:02

I got some distractions here at home...

<eminitrader> maybe selling in the last hr 15:03

<RussellDaytrade> es looks more promising now to downside

<NihabaAshi> Covered ER2 Short @ 841.30 --> + 0.9

Holding 2 contracts remaider 15:04

exit stop set ER2 @ 842.10

Be back later and will post a late trade result if my trailin stop is hit prior to my return.

<RussellDaytrade> another buck down on er will make this pattern very visually appealing....dang tyhing is sticky 15:05

<eminitrader> Covered all ES Short @ 1528.25 --> 0 15:06

<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)

<eminitrader> done for the day...losing one ---see u all tommorow 15:07

<RussellDaytrade> so long EM

<intowin> see ya E

<eminitrader> later RD intw

<base> see you 15:08

<RussellDaytrade> this mkt is changing character...every prior instance this year under these very conditions, the mkt would have ramped up and be in an acceleration phase...while it may yet rally higher over the cousre of the next couple days, it feels like the starch has bben taken out of it sufficiently to give pause to the buyers... 15:35

maybe they do a surprise gap up open tomorrow to create a 'forced' buying condition, that may cause an acceleration do to the 'surprise attack' aspects, etc...hope so, if so I will be then scaling into short trades 15:37

if that does occur, shorts will be on fairly wide scales, in respect that I may once again be early, (relative to a decline), and I will allow sufficient ample reserves to withstand adverse prices....a gap down open may be a direct and immediate sell 15:41

<NihabaAshi> Ok...I'm back and here's a late trade post that got hit around 15:06:06

Trailing Stop Hit ER2 @ 842.10 --> + 0.1

It wasn't a pretty trading day but I got my profit goal for the day. 15:47

Shorts ER2 @ 839.70 -> small size 15:52

2 contracts only and I'm in profit portection mode.

Shorts ER2 @ 840.40 -> Add 15:55

Covered all ER2 Short @ 841.40 --> - 2.7 15:59

Long ER2 @ 841.80 -> small size 16:00

<RussellDaytrade> I am satisfied that 839.8 target area was indeed achieved.

it took the scenic route.

<NihabaAshi> Long ER2 @ 841.90 -> Add 16:05

If this trade had more time in the day it would be at 842.50 by now. 16:07

Exited all ER2 Long @ 842.00 --> + 0.3 16:14

Manage to stay above my profit goal for the day. 16:15

I'm also expecting tomorrow to be like today...

Poor volatility, one strong price movement and then a retrace of a good portion of the movement. 16:16

<GoodMood> Is this already summer time ?

<NihabaAshi> I won't start being agressive until Wednesday when I expect volatility to improve.

GoodMood...I think volatility is going to stink overall going into the July 4th holiday. 16:17

After that it should slowly improve.

If not...I'm going to dramatically reduce my position size for the month of July until September. 16:18

<Desert_Flen> N What are your volatility parameters for adjusting number of contracts? I usually trade 2 no matter what, but am thinking of adding the additional dimension to the trade methodology. 16:26

<NihabaAshi> It's simple...I determine prior to the Open how large I will go based upon my expectations of the trading day. 16:36

Today, there wasn't much happening as in key market events to cause any rising volatility nor consistent back to back volatility spikes. 16:37

That kepted me from doing too large of a position and kepted my profit expectations down.

My parameters (my size) is also determine by the time of the trading day, my profit level and key market events. 16:38

The only time I had a chance to push some real size...I wasn't here (out at the stores doing personal stuff). 16:39

Volatility will began increasing tomorrow after the 2pm est Treasury Budget. 16:40

That's my key market event to start the week of normal trading.

Until then, I'm going to keep my overall size small and losses smaller than I normally do.

Meant...keep my overall size "smaller" not small. 16:41

It's also Quadruple Witching week...

Mon, Tues or Weds tends to produce a very strong price movement in comparison to Thurs and Fri price action. 16:42

Thus, I'm expecting a big price movement either tomorrow afternoon or Weds.

No fancy volatility numbers... 16:43

I'm just watching what really moves the markets.

Also, Bernanke speaks on the same day of a Friday Quadruple Witching week. 16:44

That doesn't happen often and I got some homework to do before than (reviewing old data about such involving him and Greenspan over the past years). 16:45

Monday of next week could be a barn burner if my suspicions are correct.

Take care all and see all tomorrow. 16:46

<GoodMood> bye Niha

* DisconnectedSession Close: Mon Jun 11 17:00:13 2007 17:00

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In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:

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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

Forex Currencies EurUsd, EurYen and UsdCdn

Exchange Traded Funds DIA, IWM, QQQQ, SPY, OIH, XLE and GLD

NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

COMEX Metals Gold GC

Hang Seng Index Futures HSI

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