June 29th 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.
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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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ER2 EuroFX EC +7.00 +0.0000 $700.00 $0.00 FOMC Announcement (interest rates)
One of the things I notice about FOMC announcement trading days is that most traders are reluctant to trade these days and its mainly due to big losses in the past on these particular key event trading days.
More specifically, traders that either didn't have a trading plan, poor stop/loss management or lack discipline...resulting in poor trading on FOMC announcement days.
However, the insulting thing is that many of these same traders that no longer trade FOMC announcement trading days are posting charts about how their technical analysis predicted any type of parabolic or trend price action on these particular trading days.
My point...be careful about hindsight analysis and reaction lag via nicely constructed chart examples because they will eventually trick you into believing you can trade profitably on these trading days when your past real results show you can't.
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.comNote: 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 29 08:51:05 2006Session Ident: #futurestrades * Now talking in #futurestrades 08:51 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <NihabaAshi> Be back later...won't be trading this a.m. trading session. 08:52 * NihabaAshi is now known as NihabaAshi_away <PapaJon> gm all 09:23 <substanz> gm ! 09:27 <szubaark_away> gm 09:29 * szubaark_away is now known as szubaark <les> Long ER2 @ 700 «« paper »» 09:31 Exited 2/3 ER2 Long @ 700.5 --> + 0.5 «« paper »» 09:32 Exited Remainder ER2 Long @ 700 --> 0 «« paper »» <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) <pdays> Shorts ER2 @ 699.8 «« paper »» 09:35 Covered all ER2 Short @ 699.4 --> + 0.4 «« paper »» 09:36 <szubaark> Long YM @ 11097 09:37 <jimmy> Shorts NQ @ 1566 -> large size 09:59 exit stop set NQ @ 1568 10:00 <les> Long ER2 @ 703.8 «« paper »» 10:03 wrong Long ER2 @ 703.9 «« paper »» <aym> Short ES @ 1265.75 risk 2 10:04 <jimmy> Trailing Stop Hit NQ @ 1568 --> - 2 10:05 <les> Exited 1/3 ER2 Long @ 704.4 --> + 0.5 «« paper »» Exited 1/3 ER2 Long @ 704.9 --> + 1 «« paper »» 10:06 exit stop raised ER2 @ 704 «« paper »» exit stop raised ER2 @ 704.3 «« paper »» 10:08 Trailing Stop Hit ER2 @ 704.3 --> + 0.4 «« paper »» 10:09 <szubaark> Exited all YM Long @ 11114 --> + 17 <jimmy> Shorts NQ @ 1568 -> large size 10:11 exit stop set NQ @ 1571 Covered 1/3 NQ Short @ 1566 --> + 2 10:21 * faro0485 is now known as faro0484 10:28 * faro0484 is now known as faro0485 10:29 <mispe> Shorts YM @ 11111 10:36 <jimmy> Covered 2/3 NQ Short @ 1664 --> - 96 10:37 exit 1564 <jperl> Long ER2 @ 703.50 10:42 <mispe> Covered all YM Short @ 11117 --> - 6 <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) 10:44 <jimmy> Covered all NQ Short @ 1568 --> 0 10:49 <jperl> Exited ER2 Long @ 704.80 --> + 1.3 <les> Shorts ER2 @ 704.2 «« paper »» 10:55 Covered 1/3 ER2 Short @ 703.7 --> + 0.5 «« paper »» 10:58 exit stop moved to breakeven ER2 @ 704.2 «« paper »» Trailing Stop Hit ER2 @ 704.2 --> 0 «« paper »» <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) 11:56 <codehead> as usual, i shorted the top and got too nervous to get much out of it 12:06 ES ER potential 3 min inverted ghosts 12:08 green lsma, not triggered * NihabaAshi_away is now known as NihabaAshi 12:11 <NihabaAshi> Just got back...need to reboot. * DisconnectedSession Close: Thu Jun 29 12:11:44 2006 Session Start: Thu Jun 29 12:21:04 2006Session Ident: #futurestrades * Now talking in #futurestrades 12:21 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.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) 13:05 * WannaBeBOS is now known as BOS-dentish 13:32 * BOS-dentish is now known as BOS-dentist 13:33 <substanz> Shorts YM @ 11122 «« paper »» 13:41 Covered all YM Short @ 11126 --> - 4 «« paper »» 14:03 <codehead> stops can be brutal at fed time 14:04 <szubaark> yup..they will make sure nobody gets aboard the real move IF it happens 14:10 <codehead> i used to trade qqq(q) and dia on the announcement, put in target limit orders for profit targets and bang, they'd fill and pop right back, as all the stop order get screwed 14:13 <NihabaAshi> Shorts ER2 @ 702.00 -> small size exit stop set ER2 @ 704.00 14:14 <codehead> .25 hike 14:16 <NihabaAshi> Covered ER2 Short @ 704.00 --> - 2 Reverse and Enter Long ER2 @ 704.00 Long ER2 @ 706.60 -> Add 14:17 <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) <NihabaAshi> Position now at 2 contracts. Long ER2 @ 707.80 -> Add 14:18 Position now at 3 contracts <codehead> got in a little short scalp :-) <szubaark> YM? 14:19 <codehead> yeah, took the profit immediately of course not a move to let a stop take you out 9 or 10 ticks 14:20 <eminitrader> Shorts ES @ 1273 <codehead> i saw the news hit, and Ym was still buyable but man i couldn't get my mouse there before it went ballistic <NihabaAshi> Exited 1/3 ER2 Long @ 709.00 --> + 1.2 14:21 <eminitrader> Covered all ES Short @ 1275 --> - 2 <NihabaAshi> Exited 1/3 ER2 Long @ 709.50 --> + 5.5 14:22 <eminitrader> Shorts ES @ 1277 <szubaark> Niha well done reversing! 14:23 <NihabaAshi> That's not a +5.5 but is a +2.9 <eminitrader> Covered 1/2 ES Short @ 1275 --> + 2 <NihabaAshi> Still holding 1 contract from from 704.00 14:24 szu...I gave that Short plenty of room to breadth via a wide 2 point stop especially during a FOMC announcement. 14:28 It just didn't work out :( Thought I could catch a +2 point out of it down to a candlestick support area around 700.00 14:29 <codehead> i wanted to short 11220, but using pfg and they lag bad on big volume moves <eminitrader> Covered Remainder ES Short @ 1272 --> + 5 <szubaark> nice emini 14:30 <eminitrader> thx szu looking for a buy now <NihabaAshi> Exited ER2 Long @ 707.60 --> + 3.6 14:31 Reverse and Enter Short ER2 @ 707.60 <szubaark> Niha Dark Inverted Hammer 5min ER? 14:35 i just call em like i see em' 14:36 <NihabaAshi> I don't have one. <szubaark> Shorts YM @ 11176 14:38 NQ gap fill in the works?? <NihabaAshi> Covered ER2 Short @ 706.50 --> + 1.1 <eminitrader> Shorts ES @ 1275 14:45 Exited ES Long @ 1276 --> + 1 14:46 Reverse and Enter Short ES @ 1276 <szubaark> Covered all YM Short @ 11215 --> - 39 :(( Long YM @ 11215 <eminitrader> oops that was along @ 1276 short exit @ 1276 -1 <codehead> sheesh i got no nerve here after pfg lagging 14:47 shorted YM 11214 but took just 3 ticks after gettign nervous a stop wouldn't work ER back to hod 14:48 a tick short of it thru now <eminitrader> Covered 1/2 ES Short @ 1278 --> - 2 14:49 thats a long @ 1276 <NihabaAshi> Long ER2 @ 713.00 -> small size 14:50 1 contract only...intuition trade. Missed my 711.00 entry due to a phone call :( Exited ER2 Long @ 713.20 --> + 0.2 14:51 <eminitrader> exit stop moved to breakeven ES @ 1276 <NihabaAshi> I'm done trading for the day... That was a poor trade...emotional trade...chasing the price a full 2 points above my pattern signal price. 14:52 <eminitrader> expecting another 5 pointer on the es :) <szubaark> emini Ill need it after eating that huge loss on YM 14:53 BAD ENTRY on that Short <codehead> brutal short squeezes all over the mkt 14:54 <eminitrader> Covered 1/3 ES Short @ 1279 --> - 3 not to worry szu ..thats the way it is on fed day ..we win some lose some 14:55 holding 2 contracts ..expecting 1282 on the es <NihabaAshi> Crazy...I missed my Long signals at 701.60 then again at 702.70 (add) then again 706.20 and finally the last one at 711.00 14:56 Had four opportunities to get Long again at covering that Short position...costly phone call. at = after <codehead> trinq .45 14:57 <NihabaAshi> Could have been my first +15 pointer move of the year...something worth framing the broker statement on the wall :) 14:58 <eminitrader> Covered Remainder ES Short @ 1278 --> - 2 thats a long 14:59 <codehead> potential ghosts on 5 min indices 15:00 OSTinKy pop 15:01 <eminitrader> looks like a retracement on the es ansd nq 15:06 <codehead> bond close signal is bearish--meaning a short of the close today should yield lower prices in the morning 15:25 tho my friend sho called that also said he expects up in the morning, turn down, then continue up into the close 15:26 "continue up a little then reverse 9:15"--he usually quotes central time <eminitrader> well the es will probably close today's gap ? 15:27 <codehead> then "11:30 up till close" <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) 15:29 <eminitrader> Shorts ES @ 1280.75 15:30 1 only will hold overnight with a 2 pt stop <timing> good ss 15:37 <eminitrader> time will tell :)) <timing> ss 81 15:38 <eminitrader> looks like u got a better fill :) 15:39 lloks like highs are done for today 15:41 * BOS-dentist is now known as WannaBeBOS 15:47 <szubaark> exit stop set YM @ 11252 15:57 <eminitrader> u holding ot szu ? 15:58 <szubaark> no..will Exit before close <eminitrader> k looks good <szubaark> my bad Short made me be really aggressive with this 15:59 Exited all YM Long @ 11252 --> + 37 <eminitrader> wow nice one szu <codehead> nice <szubaark> watching NQ,ES helped me with staying with this Long.. it has NOTHING to do with YM thanks. <eminitrader> Covered all ES Short @ 1202.75 --> + 78 16:00 oops thats 1282.75 <szubaark> Nice emini! <eminitrader> :))) i'm retired................. <szubaark> lol 16:01 <eminitrader> u in the green for today szu <szubaark> yes.. thats good for me especially on Fed day. I usually get hammered on Fed days. 16:02 <eminitrader> thats good szu 16:03 <szubaark> any little confidance builder helps.after taking licks all the time 16:04 <eminitrader> yep sure does 16:05 <NihabaAshi> Nice way to close out the trading day...good job. 16:08 This is one of the few FOMC trading days that had price action that can be traded without those huge parabolic knee jerk jerk price actions that contains those crazy long upper shadows and long lower shadows (highs and lows in a few intervals) 16:12 I think I'll do one trade tomorrow (1 contract only) and take it easy as a way to treat myself because I had a very good trading month. 16:13 Besides...Germany plays Argentina tomorrow :) <szubaark> yeah Niha your trading was flawless this month. U used every trick in the book :) 16:14 <NihabaAshi> szu...I traded an average of 1 contract less per trade and had my best trading all year in ER2. Thus, my efficiency improved a lot and my overall commission cost reduced a lot. 16:15 I also had more time off from the market this month :) Take care and see all tomorrow. 16:18 * NihabaAshi is now known as NihabaAshi_away * DisconnectedSession Close: Thu Jun 29 16:25:22 2006 16:25 Sponsor: As traders we must treat our trading like a business if we are to succeed as traders and as a business. Therefore, waiting till the last few weeks March to prepare for April's taxes is not good for your trading and could put extra stress on your trading during tax month or the months that follow if your one of those traders that filed an extension.. Therefore, its best to be on top of your taxes throughout the year and Traders Accounting is a great resource for such especially if you want to prevent penalties or an audit several years from now.
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