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#FuturesTrades June 12th Thursday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+12.90	+145.80	+1854.80
$1,290	$14,580	$185,480

Emini NQ

1445pm - 1500pm est

click on image to view actual size

Current Performance Record

Volatility Spike of the Day

Profit/Loss Statement

General Strategy Info: The above profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi - martial arts and Japanese Candlestick term) only and all trades were posted in real-time within 5 seconds after entry or exit as shown in the below chat log.

Also, I'm the moderator of #FuturesTrades and I use the below chat log as feedback to critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading.

Further, although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based methodology (very objective) that involves price action only trading (no indicators).

There is some subjectivity involved with some of my trades when I'm developing a new entry signal or new trade management (hence the name TheStrategyLab.com).

In addition, my intermarket analysis allows me to switch and profitably trade any other trading instrument whenever I want if/when I don't want to trade the Russell 2000 ER2 Emini Futures.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in real-time 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.

Time Zone Info Chat Log below is eastern standard time (est) - New York City, U.S.A and/or Montréal, Canada time zone.

WRB Analysis

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Session Start: Thu Jun 12 09:33:44 2008 Session Ident: #futurestrades

* Now talking in #futurestrades 09:33

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

<rickf> gm niha

<lumenPharmer> rollover in futs today from M to "U" do it 09:35

* +subq -=market profile charts updated w/rollover=- http://www.charthub.com/chart/search/mpc hart 09:37

<@NihabaAshi> Shorts ER2 @ 723.30 -> medium size

Covered ER2 Short @ 724.30 --> - 1 09:38

<+rickf> exit es 1345.50 +2 paper 09:40

<silo> Long ER2 @ 725.70 «« paper »»

<@NihabaAshi> Long ER2 @ 725.40 -> medium size

geeesh 09:42

not expected

<PapaJon> no kiddin

<@NihabaAshi> Exited all ER2 Long @ 727.80 --> + 2.4 09:43

<+silo> 732 er2 is likely

<+PapaJon> why do you say that silo? 09:44

<nqcruiser> any recommended tick size for DAX

<+silo> because i'm a phrophet

:P 09:45

<+PapaJon> i tend to agree with you but for mp reasons

<+silo> what's mp?

<szubaark> Buys ES @ 1349.75 «« paper »»

<+silo> :)

<+PapaJon> market profile

so... was just curious what you see

<+silo> where's resistance for er2 09:46

via market profile

734?

<+szubaark> Exited all Long ES at 1351.75 --> + 2 «« paper »»

<+PapaJon> i would tend to say that there is minor resistance around 732 then stronger resist at around 734.5 09:47

but... i am no expert

this doesnt mean that er2 will push that high... but that i see those as key areas 09:49

<Spartan> Shorts ER2 @ 728.8 -> small size «« paper »» 09:50

<+PapaJon> hesitation zones, magnets, pt's... etc

<+Spartan> Covered all ER2 Short @ 729.7 --> - 0.9 «« paper »» 09:51

<+nqcruiser> mt4 laggs behind Ninja charts 09:52

<@X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm

<+nqcruiser> ouch getting a bloody noise on DAX 09:53

<+szubaark> Shorts ES @ 1353.50 «« paper »» 09:54

<+silo> Exited all ER2 Long @ 730.40 --> + 4.7 «« paper »» 09:56

<+Spartan> nice trade silo

<+silo> thanks

<+szubaark> nice silo

exit stop moved to breakeven ES @ 1353.50 «« paper »» 09:59

<@NihabaAshi> Shorts ER2 @ 729.70 -> small size

<+szubaark> Covered all Short ES at 1353.50 --> 0 «« paper »» 10:01

Shorts ES @ 1352 «« paper »»

<@NihabaAshi> Covered ER2 Short @ 729.20 --> + 0.5 10:02

That was actually a 729.10 but I'll just leave it as posted

<+nqcruiser> trading DAX is like catching falling knives 10:03

<+rickf> wear chain mail gloves 10:04

:)

<+Spartan> Long ER2 @ 729.8 «« paper »» 10:05

<+nqcruiser> long DAX @ 6033 10:06

<+szubaark> Covered all Short ES at 1355.50 --> - 3.5 «« paper »»

Buys ES @ 1355.50 «« paper »»

<+nqcruiser> exit DAX

+3

<Mauro> SHORT ER2 729.40 10:08

<+Spartan> Exited all ER2 Long @ 728.7 --> - 1.1 «« paper »»

<+nqcruiser> short DAX 33

<+Mauro> COVER ER2 728.3 +1.1 10:09

<+nqcruiser> Stupid Mt4 slow platform is going to get heartburn from me on DAX 10:10

short DAx 23

<ItalianSharp> Mauro, what nationality are you from? 10:12

<+ItalianSharp> your name sounds Italian

<@NihabaAshi> Long ER2 @ 728.90 -> small size

:(

<+Spartan> Long ER2 @ 729 «« paper »» 10:13

<@NihabaAshi> Exited ER2 Long @ 728.70 --> - 0.2

Shorts ER2 @ 728.60 -> medium size

Prior Long was a trade error

<+nqcruiser> out of DAX short @ 18 10:14

<@NihabaAshi> Hit the wrong button :(

<Nesi> nice nqcruser

<+rickf> eeek niha

vn nq

<+nqcruiser> while my slow fingers get the better of me

i got out too earl

<@NihabaAshi> No biggie...happens about once per week

<+nqcruiser> exit DAX 10:15

<+szubaark> Pinball type action again :(

<+Spartan> Exited all ER2 Long @ 727.8 --> - 1.2 «« paper »» 10:17

<@NihabaAshi> Covered 3/4 ER2 Short @ 727.50 --> + 1.1

<+nqcruiser> short DAX @ 19

exit DAx -3 10:18

<+Spartan> Long ER2 @ 726.8 «« paper »» 10:20

<+nqcruiser> short DAX

<@NihabaAshi> Covered Remainder ER2 Short @ 726.50 --> + 2.1 10:21

<+nqcruiser> I tought u r hanging in there N

i hate the Doji on DAX 1min 10:22

<BigDawg291> nihaba what is usually your stop loss on your plays?

<+Spartan> Exited all ER2 Long @ 725.8 --> - 1 «« paper »» 10:23

<+nqcruiser> I exited on the Doji

too early

* Spartan is now known as Spartan_Away

<startrader> Long NQ @ 1945 10:24

<@NihabaAshi> BigDawg...I don't use fixed stops nor profit targets. 10:25

I'll explain because its a little confusing.

<+rickf> short es 1346.25 paper

<+BigDawg291> ok thanks

<@NihabaAshi> My actual "HARD STOP" is a - 4 point ER2 stop

<+BigDawg291> ok 10:26

<@NihabaAshi> Its auto everytime I enter a trade.

That stop is only there for EMERGENCY situations (e.g. computer crashes or ISP disconnects) while I'm in a middle of a trade.

<+BigDawg291> oh ok

<@NihabaAshi> That stop may get hit like once per year :)

Thus, it only gets hit when I'm having some sort'uv computer or connection problems on my side. 10:27

In contrast...

I also use a general -2 point "MENTAL STOP".

<+BigDawg291> ok 10:28

<@NihabaAshi> That stop rarely gets hit but has a purpose...

It tells me to dump the trade and stop trading...take a break via leaving the computer and go do something like get some fresh air :) 10:29

<+rickf> exit es 47.25 -1 paper :(

<@NihabaAshi> I also have another mental stop that's not fixed and its the actual stop that controls me trading...

<+BigDawg291> yeah i know whatcha mean

ok

<@NihabaAshi> That mental stop is based upon the "CURRENT" price action 10:30

<+startrader> Exited all NQ Long @ 1949 --> + 1.25

<@NihabaAshi> Thus, its different every trade based upon volatility analysis (WRB Analysis)

<+BigDawg291> oh ok 10:31

<@NihabaAshi> Yet, doesn't imply I'll let it get hit

<+nqcruiser> upside on DAX mo umph

<@NihabaAshi> I'll sometimes reverse a trade position before my mental stop is reached due to getting another trade signal in the opposite direction

I think my average losing trade is somewhere between -0.7 to -0.9 10:32

<+nqcruiser> exit DAX long

<+BigDawg291> ok,

<@NihabaAshi> That's why its tricky to explain when someone ask me what my stop is... 10:33

<+BigDawg291> i see lol

<@NihabaAshi> Technically, its always placed at -4 point

<+BigDawg291> but very good information

yeah

but tnat helps me understand a little better how you are tarding and what you are looking at as a stop 10:34

thanks

<dragon310> Shorts ER2 @ 727

<@NihabaAshi> :)

If I lacked discipline...I would probably use a hard stop like -1 point

<+BigDawg291> ok thanks, i was just wondering if I traded ER2 what would be a good stop to use, I usually trade NQ but was thinking aboiut ER2 10:35

<+rickf> short dax 6705.5 paper 10:38

<+ItalianSharp> Niha, in those days where volatility is ultra-high a 1pt-ER2 stoploss could get hit fairly easily

dont you agree?

in those days 1pt is just noise

<+BigDawg291> do you all measure volatility with the VIX?

<+dragon310> Covered all ER2 Short @ 728 --> - 1 10:39

<+silo> Long ER2 @ 728 «« paper »»

<@NihabaAshi> I usually use the VIX only in "Low" volatility market conditions when things get confusing 10:40

Normal to high volatility...I just use price action itself of my trading instrument 10:41

<+BigDawg291> oh ok

<+rickf> exit dax 6707 +2.5 pts (added on last spike)

short dax 6705.5 paper 10:47

exit dax 6703 +2 paper 10:49

<+ItalianSharp> price action is turning into the classic pre-Bernanke-speech type of chop 10:53

I am not sure how much Bernie will say though, all i read is that he'll be doing the introductory remarks of the KC fed ceremony 10:54

so he might just say squat about economy

<Awash> good morning all 11:12

<+Awash> late start

hope trading is going well 11:13

<@NihabaAshi> Long ER2 @ 729.70 -> small size 11:16

Pin Ball Machine just showed up :( 11:17

<+nqcruiser> folks what market should i subscribe on Esignal, to get DAX, FTSE, FEs and CAC40 11:20

<@NihabaAshi> Exited ER2 Long @ 729.80 --> + 0.1 11:22

Houdini Escape

Didn't like the price action after my entry

<+nqcruiser> speech in 10mins right? 11:23

<@NihabaAshi> I'm also above my profit goal level for the day...

Thus, I'm in conservative mode (profit protection) and will no longer be aggressive in my trades

<+BigDawg291> what is your profit gola for the day nihaba 11:25

<@NihabaAshi> For today it was $1,200

<+BigDawg291> very nice 11:26

<KN-ES> Shorts ES @ 1353.25

<@NihabaAshi> Everyday I have a different goal depending upon the volatility, distractions here at home et cetera

<+silo> Exited all ER2 Long @ 729.10 --> + 1.1 «« paper »»

<+nqcruiser> i expect ES to reach 1345.20 by 11h40

<+KN-ES> s.l 1 11:27

<+dragon310> Shorts NQ @ 1957

<+KN-ES> Covered ES Short @ 1353.25 --> 0 11:28

Reverse and Enter Long ES @ 1353.25

s.l 1.25

<Guest> Exited 1/3 ER2 Long @ 730 --> + 5.5 «« paper »» 11:29

<+KN-ES> Exited 3/4 ES Long @ 1354.25 --> + 1

<+Guest> held from yesterday

<@NihabaAshi> Be back later...going to lunch 11:30

* NihabaAshi is now known as NihabaAshi_away

<+nqcruiser> now the action heats up 11:33

and u leave ...

<+Spartan_Away> Shorts ER2 @ 729.2 «« paper »» 11:43

<+KN-ES> Exited ES Long @ 1353325 --> + 1351971.75

Reverse and Enter Short ES @ 1353325

what?

Shorts ES @ 1353.25

<+tzar> i think your good to retire KN-ES

:D

<Splurge> impressive

<+KN-ES> i m alrady retired :)

<+Splurge> you well in profit if you got that entry KN :))

<+tzar> poor guy who filled KN-ES at the price 11:44

<+Splurge> lol

<+KN-ES> now i m filling bad :)

<+tzar> haha

you can donate back to him ... also get a tax break 11:45

<+Guest> Exited Remainder ER2 Long @ 728.7 --> + 3.9 «« paper »»

<+tzar> nice Guest

<+Guest> Shorts ER2 @ 728.7 «« paper »»

<+KN-ES> Covered 3/4 ES Short @ 1351.75 --> + 1.5

Covered 1/4 ES Short @ 1351.25 --> + 2 11:47

h5

<+tzar> KN-ES do you have a daily profit target?

<+KN-ES> yes

as long as i m not tired

s.l 53.50 11:48

<lisa> ........................................ ........................................ ........................................ ........................................ ........................................ ........................................ ...................hi 11:51

<+tzar> woah

hi lisa

<+KN-ES> Covered 1/4 ES Short @ 1349.75 --> + 3.5 11:56

h4

<@X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 11:59

<+KN-ES> Covered ES Short @ 1352 --> + 1.25 12:10

Reverse and Enter Long ES @ 1352

Exited 3/4 ES Long @ 1353.00 --> + 1 12:11

s.l 51.25

<+rickf> bak in a bit - gotta run some errands 12:12

<+KN-ES> Exited ES Long @ 1352.25 --> + 0.25 12:13

Reverse and Enter Short ES @ 1352.25

s.l 1.25 12:14

Covered ES Short @ 1352.00 --> + 0.25 12:16

Reverse and Enter Long ES @ 1352.00

s.l 1.25

dead 12:17

Exited ES Long @ 1352.25 --> + 0.25 12:18

Reverse and Enter Short ES @ 1352.25

50 bid can move market few points

what a day 12:19

<tzar> its dead zone

<+tzar> lunch time

<+KN-ES> Covered 3/4 ES Short @ 1351.25 --> + 1

yes

adding 25 still doesnt move

:(

Covered 1/4 ES Short @ 1350.75 --> + 1.5 12:20

h5

s.l 52.75

<+dragon310> kn-es what timeframe do you look at by the way? 12:24

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, intermarket analysis with a money back guaranteed policy...click here.

Trading Strategies -> Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<+KN-ES> Covered ES Short @ 1351.75 --> + 0.5 12:25

Reverse and Enter Long ES @ 1351.75

volume

market delta

<+dragon310> ahh

<+KN-ES> not delta

matrix 12:26

time and sale

<+dragon310> no chart interval then i guess?

<+KN-ES> no charts at all

<+dragon310> just vol chart and matrix

<+KN-ES> Exited ES Long @ 1352 --> + 0.25 12:27

Reverse and Enter Short ES @ 1352

no chrts

at all

<+tzar> KN-ES whats market delta?

<+KN-ES> i dont use market delta

market depth .............. 12:28

s.l 1.25