#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 22nd Thursday 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 time stamped 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, below NihabaAshi's trading blog like comments, you can read the time stamped trades (prices, entries, exits et cetera) and market discussions that sometimes contains trading tips or insights that are more useful than what you will see at any other futures blog or chat room.

Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary on a few occasions as time permits and such 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 in #FuturesTrades realtime trade posting chat room.

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Trading Perspective

No comments today.

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.

Session Start: Thu Jun 22 09:26:34 2006Session 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 09:35

<NihabaAshi_away> Hopefully the double log in will clear up in a few minutes.

<asd> buy er2 691 risk 2

* NihabaAshi_away is now known as NihabaAshi 09:36

<PapaJon> only see one of you niha

<asd> exit er2 @ 692.6 09:37

<NihabaAshi> I got rid of my other half :)

<PapaJon> hopefully the evil half.. :)

<eminitrader> morn pj szu

<PapaJon> gm et

<szubaark> gm emini

<mispe> gm all

<pdays> Long ER2 @ 692.6 «« paper »» 09:40

Exited all ER2 Long @ 694.7 --> + 2.1 «« paper »» 09:41

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<PapaJon> nice one pdays

<pdays> tnx, its a jumping 09:42

Shorts ER2 @ 694.6 «« paper »»

Covered all ER2 Short @ 693.5 --> + 1.1 «« paper »» 09:43

my days over :}

<NihabaAshi> Long ER2 @ 693.40 -> small size 09:44

Exited ER2 Long @ 692.00 --> - 1.4 09:47

Reverse and Enter Short ER2 @ 692.00

<eminitrader> Long ES @ 1259.25

<szubaark> Shorts YM @ 11132 09:50

<NihabaAshi> Covered all ER2 Short @ 692.20 --> - 0.2 09:51

<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) 09:52

<NihabaAshi> Long ER2 @ 692.40 -> large size 09:53

<szubaark> Covered all YM Short @ 11135 --> - 3 09:55

Long YM @ 11135

<codehead> long ER 393.0 <paper>

stop 691.60 <paper> 09:56

<NihabaAshi> Exited 1/2 ER2 Long @ 694.10 --> + 1.7

<szubaark> code..possible HTLB on 5min

<codehead> exit ER +1.1 <paper> 09:57

yeah, looking at that

also bit of vegas pattern and inv ghost on 3 min

<PapaJon> er very wiggy today

<codehead> zlr now, looking for fmair

<NihabaAshi> Exited Remainder ER2 Long @ 694.00 --> + 1.6 09:58

<szubaark> geez.. should be trading ER.. but too scared 09:59

<codehead> yeah, ER trades pretty cleanly, just need a decent stop 10:01

<eminitrader> Exited 1/2 ES Long @ 1260.75 --> + 1.5

Exited Remainder ES Long @ 1259.25 --> 0

<szubaark> these openings arent getting any better 10:03

<codehead> leading indicators out, mkt dip

<NihabaAshi> Shorts ER2 @ 692.20 -> small size

<mispe> Shorts YM @ 11122 10:04

<szubaark> Exited all YM Long @ 11120 --> - 15 10:05

:((

Shorts YM @ 11120

<NihabaAshi> Covered all ER2 Short @ 691.90 --> + 0.3 10:06

<mispe> Covered 1/2 YM Short @ 11116 --> + 6 10:07

Covered Remainder YM Short @ 11122 --> 0 10:08

<NihabaAshi> Shorts ER2 @ 692.20 -> small size 10:10

Intuition trade...early entry...shooting from the hip :)

<codehead> relatively weak ER down move so far on cci, didn't even get to -100 line

on 3 min 10:11

whereas YM went into extremes

<szubaark> shitty price action 10:12

<NihabaAshi> Agree.

Under nomral conditions...my current Short would be +2 points in the paint for me.

<codehead> ER truning back down

<szubaark> YM getting real jumpy lately 10:13

<NihabaAshi> Tightning up my trailing stop...losing my patience.

<szubaark> Just No followthru 10:14

<PapaJon> kawoosh 10:15

<szubaark> heheh.. NQ keeping me in this trade 10:16

<NihabaAshi> Covered 2/3 ER2 Short @ 690.50 --> + 1.7

<szubaark> Nice Niha!

10:30 Pet Report

<NihabaAshi> I had to lean on the Oil Index price action info to keep from losing my patience in this trade and exiting too early.

<eminitrader> Shorts ES @ 1256 10:21

<NihabaAshi> Covered Remainder ER2 Short @ 691.90 --> + 0.3 10:22

<codehead> long YM 11117 <paper> 10:23

stop 11107 <paper> 10:24

<szubaark> good entry code

<codehead> jumping the gun, didn't want more than a 10 tick stop

the signal hasn't triugger tho

<NihabaAshi> Shorts ER2 @ 690.80 -> small size

<codehead> i'm going to let mkt get a rhythm before real trades tho

<NihabaAshi> 1 contract only.

<mispe> Long YM @ 11115

<codehead> the signal might roll over--hasn't triggered 10:25

<eminitrader> Covered all ES Short @ 1256 --> 0

<szubaark> NQ leading this drop, ES.YM need to catch up FAST

im losing patience

<eminitrader> wrong entry .. 10:26

reason i took an exit

<NihabaAshi> Covered ER2 Short @ 691.50 --> - 0.7

Reverse and Enter Long ER2 @ 691.50

<codehead> YM giving down signal currently 10:27

yeah

<szubaark> just looked at chart..that 1120 area chop from Yersturday on YM

<codehead> exit YM -4 <paper>

<mispe> Exited all YM Long @ 11110 --> - 5 10:28

<NihabaAshi> Exited ER2 Long @ 690.30 --> - 1.2

Reverse and Enter Short ER2 @ 690.30

Reversed into a 3 contract Short position. 10:29

<codehead> i think there are buyer lower, just waiting to find out what price 10:30

<NihabaAshi> Geeesh.

Going to take a break from this soon. 10:31

<szubaark> Need a lot of patience for this today

<codehead> gonna guess buyers on YM by 11080 10:32

having trouble breaking down 11100 already

<szubaark> 11060 Yersturday Low

<NihabaAshi> Covered all ER2 Short @ 690.00 --> + 0.3

<codehead> ER some support between here and 688

naz pretty bad 10:33

<NihabaAshi> Long ER2 @ 690.20 -> small size 10:34

<codehead> naz can still come down a bit and still be building a bullish wedge tho

<NihabaAshi> 2 contracts only

<codehead> bulls keeping things in the range of "buying op" and not "mkt breakdown" so far 10:35

so a bit of tug-o-war

YM trying htlb on 5 min 10:36

<NihabaAshi> Exited all ER2 Long @ 690.60 --> + 0.4 10:37

:(

Be back later...I'm under no obligation to trade this type of poor price action.

<codehead> naz trying to hold up here

* NihabaAshi is now known as NihabaAshi_away

<szubaark> WEAK buyers 10:38

* patternz is now known as indy 10:57

* indy is now known as patternz 10:58

<codehead> lol--went and did some work on my bathroom, knew i'd come back and YM would be same price 11:00

<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) 11:04

<szubaark> im still holding my short 11:10

. 11:24

<patternz> where are you short from ? 11:31

<szubaark> [10:06] <szubaark> Shorts YM @ 11120 11:32

<patternz> ahhh, k, thks

<szubaark> starting to sweat a little...pulling back too much

<timing> ss 140 11:39

150 top of range

stop b/e 11:42

patz sell 100 :) 11:43

<patternz> hi timing 11:44

<timing> :)

+5 on 1/2

too slow

<szubaark> are u the timing from Woodies?

<timing> hehe yes 11:46

1st student

but no cci on my charts

+5 rest heck 11:47

dang 130 trget hit 11:48

ur 120 soon

<PapaJon> Lots of good acting in the world cup today 11:55

i think Fifa needs to crack down a bit more on 'dives'

seems to have gotten much worse over the last 7 or 8 years 11:56

<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) 12:16

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<patternz> still got the short szubaark ? 12:35

<codehead> long YM 11109 <paper> 12:37

stop 11095

not a compelling entry, more interested to see if it gets to 11080 area 12:38

but if it can't break down 11100 we're just ranging today 12:39

<patternz> yes, fairly good support here 12:41

i'm watching to see what kind of pattern develops here below 11145 12:42

<codehead> k, looks like it's gonna b/d

<patternz> i like 11060 more for longs if ym can break down here 12:43

<codehead> stopped -14 YM <paper>

naz back to -20 after bouncing half way back

<NihabaAshi_away> Shorts ER2 @ 690.20 -> small size 12:44

* NihabaAshi_away is now known as NihabaAshi

<patternz> timing - look at your 11140 short now :)

<NihabaAshi> 1 contract only...in profit protection mode of earlier profits (small profits). 12:45

Most likely will be my last trade of the day.

<codehead> long 11093 YM <paper>

oops premature entry 12:46

was looking at wrong thing, may still get an inv ghost on YM 3 min tho

<patternz> my indicators all weak atm

<codehead> dow may have to test 11000 12:47

<NihabaAshi> Covered ER2 Short @ 690.00 --> + 0.2 12:49

Got some data problems...good time to stop trading. 12:50

* NihabaAshi is now known as NihabaAshi_away

<codehead> oh good grief, i had a different chart up, wasn't looking at YM 3 min!!! 12:51

lol

good thing it was paper

was looking at XING we min cci

3 min cci

was no entry on YM long 12:52

possible vegas forming, not triggered

exit YM +1 <paper> from bogus entry 12:54

got vegas patterns on 3 min charts 12:55

<timing> 140 ss :(

unreal 12:56

<codehead> nice

might bounce here 12:57

<timing> y 12:58

retest low 1st

<codehead> tho it needs to dip a bit more for a better bounce point

<timing> need bounce to ss 13:07

<codehead> yeah 13:11

<timing> ss 11

111

<patternz> 11111 has to be a magic # :) 13:15

<timing> +8 scalp

lol y 13:16

<codehead> 3 min charts trying to decide whether to roll over or famir 13:22

long YM 11104 <paper> 13:24

<timing> paper trade r good 13:25

i wish i can do them

<codehead> i'd like to take a real trade in futs today, but this area is scuky

<timing> agree

<codehead> "sucky"

<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)

<timing> not buy area 13:26

<patternz> ym may test the monthlong downtrend line that it broke thru yesterday to see if it has become support

<codehead> yeah, needs lower to buy, but higher to sell

<patternz> that would be the extreme low for today imo 13:27

<codehead> Er gave a better pop

<patternz> some support around 11060

<codehead> i been waiting for 11080 area all day as first area i'd be interested in looking for long

for a real trade

<patternz> assuming it get's to 11060 that is

<codehead> stuck, setting tight stop 11099 <paper> 13:29

looking down 13:30

out -5 <paper> stop hit 13:31

<timing> 060 doable if low break

<patternz> the monthlong downtrend line support area at around 11040

<szubaark> code still looking for that 11060 on my Short

<timing> nice

<patternz> if it wants to go down 13:32

<timing> look at my ss again ptz:(

<patternz> yes, need to become position trader lol

<timing> lol

extra+10 extra +30 13:33

ok i need to take some steps

poss 2xbott

szu ya still hold ,nice 13:34

<patternz> bottoms all fake today

sell, sell, sell lol

<timing> y

<patternz> if you using 24 hour chart, just put a 55 ema on it 13:35

5 min 24 hr

<timing> use 20

<patternz> trade short below, long above 13:36

<substanz> Long YM @ 11095 «« paper »»

<patternz> 20 ok too for entries sometimes

55 good for deciding if should trade long or shortside

<timing> i ll check 55

put 55 on my 55 tick chart 13:37

:)

<patternz> i don't know how it looks on tick chart

<szubaark> 11060 Target on my Short

<timing> look tough 13:38

but

<patternz> 20 ma good for most entries - but you usually get that one push (at 11:30 am today) that takes mkt to the 55 on trend days

<timing> ss bounces

<substanz> Exited all YM Long @ 11090 --> - 5 «« paper »» 13:39

Shorts YM @ 11091 «« paper »» 13:40

<patternz> if you trading at 3 am timing - look at the small 5 min h&s that formed at 3 am today just above the ma's 13:41

<timing> yes was that 090 3pm high resistance

<patternz> then the probe above the ma's just before 6 am the perfect short

<timing> 190 i mean 13:42

yes

<codehead> k, dow finally going for 11000 13:43

<substanz> Covered all YM Short @ 11078 --> + 13 «« paper »»

<patternz> timing - is your 20 ma sma or ema ?

<timing> ema 13:45

<patternz> k, i have fib ema fan - 21,34,55

<timing> pts why r u not ss ,lol

i see 13:46

<szubaark> can i get my 11060 now? LOL

<patternz> i been sayin short all day :)

just new to room

<timing> short cov here 13:47

<szubaark> still room to go lower

<codehead> ok, i took my one trade today--lol, what a chicken--4 YM ticks in a few secs

<timing> es hit supp level

<szubaark> code u need balls and patience to trade YM.. its making me sweat everyday

<codehead> yeah sheesh 13:48

<timing> es worse zubaark

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<codehead> es gives me fits--i trade ER best

but haven't traded it since my money-management debacle a couple weeks ago

<szubaark> yea I cant handle the slow mov't in ES, drives me nutso

everyone fighting for every frikin tick in ES 13:49

<patternz> i thinking the 11040 very likely by eod, but let's get to 11060 first

<codehead> my gut feeling is we're near bounce points on ER and YM, but such a sucky day i don't want to go long without a "gift" entry 13:50

ES at a first support level

<timing> y 13:51

<codehead> 1245.50 next 13:52

indices could get some inv ghosts if they do get buying on next push 13:54

mentioned early today thot ER had some support by 688--so far 687.90 low 13:55

YM touched woodie's s1

exactly

<szubaark> Covered all YM Short @ 11077 --> + 43 13:56

<codehead> dow/YM pretty predictable with the levels they like to test 13:57

11000 was almost a "must" test

woohoo--nice szu!

took patience

<timing> vn zubaark

090 ss area

<patternz> wtg szubaark 13:58

<szubaark> thanks.. with 11000 area i got out

plus 2pm games approaching

<timing> ss 090 13:59

<patternz> see if we get two pushes up for short

on 1 min 14:00

<szubaark> code 5min YM mittens Ghost

<substanz> Long YM @ 11085 «« paper »»

<codehead> YM 8 min vegas approaching trigger 14:01

been watching that developing for a bit

<timing> forgot all cci stuff 14:02

<szubaark> could get nasty and choppy here

<timing> price rule now :)

<szubaark> hehe.."We dont need no stinkin prices!"-Woodie see u at the poor house! 14:03

<timing> +9 14:04

yes i never thought its a good idea 14:05

lol

<codehead> i watch cci to keep me out of bad trades, but really pick my levels on price

<timing> cool

cci help

patz use astro stuff 14:06

<codehead> i think cci works, but foudn with futs money management most important no matter what you trade with

<timing> way ahead of cci :)

<codehead> astro?

<timing> yes

<codehead> consults the stars?

;-)

<timing> lol

<codehead> what's "astro"? 14:07

<timing> astrology

<codehead> oh seriously

<timing> oops crash

<codehead> anyway, i mostly look at ghosts and vegas on cci 14:08

i find zlr too open to interpretation

<timing> we started 5 people with woodie on p/talk

<codehead> great when you know something is going to trend one direction all day and just want a good entry point, but otherwise, i can't see it

<timing> then it became a zoo, i left\ 14:09

<codehead> oh wow

<substanz> Exited all YM Long @ 11066 --> - 19 «« paper »»

Shorts YM @ 11065 «« paper »» 14:10

<timing> too low ss

<codehead> thot about taking that last zlr on YM 5 min, mid 80's, would have been decent trade

20 point move

<timing> substanz ur long entry was close to resist 14:11

<substanz> yes :(

<timing> i posted 090 ss level 14:12

ok good learning

:)

<codehead> Ym 5 min *could* build a nice vegas

naz tryign to put in bottom 14:13

didn't make lower low as dow did

<patternz> bottoms are all fake in downtrend 14:14

<timing> bott is in

<patternz> i don't trust 'em :)

lol

<timing> gurantee :)

<patternz> better to look for topping pattern as mkt approaches today's downtrend line imo 14:15

or, heck, forget looking - just close eyes and push sell button ! 14:16

lol, i jkh

jkg

* szubaark is now known as szubaark_away

<timing> lol 14:17

<substanz> was a shakeout

<timing> short cov

<patternz> yes, might get some short covering here 14:18

<substanz> lets go

<patternz> i'm not very good with the times - 2, 2:30, 3 14:19

<timing> 3xbott here poss

<patternz> big thunderstorm coming here 14:20

<codehead> possible to get last-hour bounce today?

<patternz> anything is possible, but it's always safer to trade with the day's trend imo 14:21

<codehead> yeah

just been wondering if we get some covering--maybe we've dumped too much today for that

but at times action has seems timid for this much down 14:22

<patternz> it's only 2:30

<timing> ss bounces

<patternz> plenty of time to bounce here then sell off more

<codehead> wondering if too many shorts late to the party today

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<timing> sell vol lod

<codehead> YMer put up a big bid 11073

here

<patternz> if you 14:23

if you've noticed - over past month or so lots of 150 pt trend days

<codehead> yeah

<patternz> if mkt bounces some here, then push down into close likely imo 14:24

<codehead> long YM 11077 <paper>

<timing> this big range days r start of bear market, imo

<patternz> might get 11100 /11110 if lucky, but i'd rather short there than buy here - is just me 14:26

<timing> y 14:27

agree

<patternz> rsi not showing any kind of strength at all 14:29

is it ok for everyone to post trades in this room ? 14:30

<timing> y not 14:37

<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)

<codehead> move stop 11075 YM <paper> 14:38

taking too long

make it sopt 11074

but this needs to move now

<patternz> k, i try to post some trades tomorrow then 14:41

<codehead> thx

<timing> c ya b b later 14:42

<codehead> YM famir rolling over, taking too long

ER looking down 14:43

stopped out -3 YM <paper> before i could type exit flat--lol

still YM having trouble dropping more 14:44

long YM 11076 <paper> 14:48

<timing> tip of the month any time naz trin is at over 2.00 jusr ss

<codehead> yeah, i do watch trinq 14:49

<timing> ss 87 14:50

st b.e

<codehead> tail stop 11087 14:51

11089

<substanz> Covered all YM Short @ 11091 --> - 26 «« paper »»

<codehead> stopped +13 YM <paper> 14:52

<substanz> Long YM @ 11092 «« paper »»

<codehead> i've had this wacky bias today that we get *some* bounce late, but i'm sure i'm just out of my head

<patternz> how much of a bounce do you expect ? 14:53

<codehead> uh.. i dunno--11110-20 at most prolly 14:54

<patternz> yes, that's what i'm thinking too 14:55

<codehead> long YM 11090 <paper> just testing the bias

however, i think we may have already dumped too badly today, so more likely have to head back to lows or worse for close

stop 11089 14:56

exit YM +4 14:57

paper

have to have a tigher stop to test my bias and don't want one 14:58

wider i mean

<patternz> i usually move stop to b.e. if ym goes 6 pts in my direction 15:00

if you're right it will keep going

BUT, if you use tight stops like this, have to be ready to reenter if get stopped and the trade still looks good 15:01

<codehead> long YM 11084 paper 15:04

eh--that's sitll too high 15:05

stop 11074

move stop 11085 <paper> 15:10

move stop 11089 <paper> 15:11

move stop 11099 <paper>

move stop 11104 <paper> 15:12

<substanz> target 11130, 200 ema on 3min chart

<codehead> exit YM at stop +20 <paper> 15:13

<patternz> vn 15:14

<codehead> 11111 high on that move 15:15

<patternz> yep, that's how every good trade should go

soon as you get in it goes your way and never looks back :)

<codehead> i wish they all did--lol 15:16

<patternz> yes, would be nice

<substanz> Exited all YM Long @ 11105 --> + 13 «« paper »» 15:35

Shorts YM @ 11106 «« paper »»

<codehead> k, YM hit 11118 high, expected res around 11120 15:37

coudl squeeze up more tho 15:38

still higher lows

<substanz> Covered all YM Short @ 11094 --> + 12 «« paper »» 15:40

<codehead> nice

<substanz> thanks, but paper trade :( 15:41

<codehead> yeah, i only had nerve today to take 1, just 4 ticks :-P 15:42

should have been shorting today

<substanz> yes similar for me, don't have stomach in real trading 15:46

<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) 15:49

<patternz> gnite all 15:59

<substanz> Shorts YM @ 11090 «« paper »» 16:01

Covered all YM Short @ 11093 --> - 3 «« paper »» 16:05

* NihabaAshi_away is now known as NihabaAshi 16:15

* DisconnectedSession Close: Thu Jun 22 16:45:37 2006 16:45

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