#FuturesTrades June 29th Friday 2007 Trade Log

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: Fri Jun 29 09:23:15 2007Session Ident: #futurestrades
* Now	talking in #futurestrades	09:23
<X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<werner>	gm all	09:24
<pat255>	gm all	09:30
<venedom>	gm	09:31
<eminitrader>	Shorts ES @ 1522.25
<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)	09:32
<NihabaAshi>	Shorts ER2 @ 848.90 -> large size
	ooops
	Shorts ER2 @ 847.90 -> large size	09:33
<jperl>	ER2 @ yeterdays VWAP 848.04	09:34
<NihabaAshi>	Shorts ER2 @ 848.30 -> Add
	I'm loaded.
<RussellDaytrade>	I recently considered the merits ot trading loaded	09:36
<eminitrader>	wld be intrested in knowing what they r RD	09:37
<NihabaAshi>	It's the day after a FOMC Announcement...a good day to be very aggressive.
	We have a 0945am est report...I'm going to change my game plan here :(	09:38
<eminitrader>	exit stop lowered ES @ 1523.25	09:39
	dont want to risk more ...untill i get a feel for the flow today
<RussellDaytrade>	still (no pun intended) inn tha considrashin fase EM, stai tooned, burp.	09:40
<eminitrader>	no idea what u mean RD..sorry	09:41
<RussellDaytrade>	just being silly, np, back to trading focus	09:42
<NihabaAshi>	Covered 1/2 ER2 Short @ 848.80 --> - 0.5
<eminitrader>	Covered all ES Short @ 1523.25 --> - 1
<NihabaAshi>	Covered all ER2 Short @ 849.80 --> - 1.9	09:44
<pat255>	:(	09:45
<pdays>	NAPM est 58 in @ 60.2
<eminitrader>	thx pdays	09:46
	waiting for it on cnbc
* Awash	is now known as Awash_away	09:47
<venedom>	report out?
<eminitrader>	yes	09:49
	as pdays stated
<NihabaAshi>	We have two more reports at 10am est
<jperl>	10:00 Construction Spending and Consumer Sentiment
	stay tuned	09:50
<eminitrader>	:)
<NihabaAshi>	Yep
<eminitrader>	be back ..nned to pump up my adrelene.....
	smoke time :)
<NihabaAshi>	Shorts ER2 @ 850.50 -> large size	09:52
	That's where I should have been short for my first trade of the day.	09:53
	Unfortunately I only have a small target for this trade.
<pat255>	looks S again being squeezed ..no?	09:54
	may test 1528 YH..
<NihabaAshi>	Covered all ER2 Short @ 851.50 --> - 1	09:55
<pat255>	es strong ..	09:57
<NihabaAshi>	Shorts ER2 @ 850.80 -> large size	09:58
	Looking to add if volatility picks up.
	:(	09:59
<eminitrader>	Long ES @ 1527.25	10:00
<NihabaAshi>	Covered all ER2 Short @ 851.20 --> - 0.4
<eminitrader>	Exited 1/2 ES Long @ 1529.25 --> + 2
<pdays>	Confidence 85.3 est84	10:01
<NihabaAshi>	ER2 moving so fast...I haven't been able to catch one position reversal...that's a first all year.
<pat255>	man it is tuff ..thot it will easy way down but Noooo	10:02
<eminitrader>	u r right pat es was strong
	need to see if it breks 1530
<NihabaAshi>	Long ER2 @ 852.20 -> large size
<pat255>	yes
<venedom>	852.40	10:04
	Long ER2 @ 852.40
<eminitrader>	Exited 1/3 ES Long @ 1529.75 --> + 2.5
	holding 2
<NihabaAshi>	Exited all ER2 Long @ 852.50 --> + 0.3
<Brutus>	e 1533 is 0622 gap	10:05
<venedom>	Exited all ER2 Long @ 852.10 --> - 0.3
<NihabaAshi>	Shorts ER2 @ 851.90 -> large size
	That's another 6 tick price retracement before I could get Short :(	10:06
	ER2 moving very fast.
<pat255>	yes staying away from it ..:(
<eminitrader>	Exited Remainder ES Long @ 1528.75 --> + 1.5	10:07
<NihabaAshi>	It's tough trading when losing 6 - 10 ticks between the trade signal and actual entry.	10:08
<RussellDaytrade>	849.52 first target	10:09
<eminitrader>	Shorts ES @ 1529
<NihabaAshi>	That's a lot of lost wiggle room
	I need a minimum of +1.1 to put a bandaid on the bleeding this morning.	10:11
<eminitrader>	Covered 1/2 ES Short @ 1527.50 --> + 1.5	10:12
<RussellDaytrade>	good thing I am putting in some presets on them closing orders, it's trading so fast, I couldn't click fast enuf
<jperl>	ER2 approaching VWAP 850.50	10:13
<NihabaAshi>	That missing 6 tick would look good right now :(
	Covered all ER2 Short @ 850.70 --> + 1.2	10:16
<eminitrader>	Covered ES Short @ 1526 --> + 3	10:19
	Reverse and Enter Long ES @ 1526
<NihabaAshi>	Shorts ER2 @ 850.50 -> large size	10:20
<RussellDaytrade>	these jokers are atalling onthe final push into my targets	10:21
<NihabaAshi>	Too many emotions in this particular trade...
	Will take a small break from the market after I close the position.	10:22
<jperl>	ER2 hanging around the VWAP 850.50
	I don't trade here
<eminitrader>	Long ES @ 1525 -> Add	10:23
<RussellDaytrade>	did we hit 3SD on that sprint up JP?
<jperl>	no...only 2
<RussellDaytrade>	lol, unbelievable!	10:24
<jperl>	no really
	not
	hitting 3 SD is a rare event during the day
<RussellDaytrade>	flattened out on two accts (now trading three). That qualifies me to be a juggler.	10:25
<NihabaAshi>	I myself have a s/r zone here and ER2 is trying hard to find some support :(	10:26
<les>	yes, 849.9 looks strong support right now
<RussellDaytrade>	I have a possible larger structure 845 area
<NihabaAshi>	Covered ER2 Short @ 850.80 --> - 0.3	10:27
	Reverse and Enter Long ER2 @ 850.80
<RussellDaytrade>	made money, can afford to wait it out now to see how mkt 'shapes itself'
<NihabaAshi>	Long ER2 @ 851.60 -> Add	10:28
<RussellDaytrade>	tempting me here
<les>	i thin mt fibonacci may be of assitance here
<eminitrader>	Exited 1/2 ES Long @ 1526.50 --> + 1.5
<les>	i think mr... even
<NihabaAshi>	My first position reversal of the day.
<eminitrader>	no thas 1 from avg 1525.50
	holding 5
<NihabaAshi>	That battle at the support area gave me enough time to get ready to go the opposite direction.	10:29
<eminitrader>	after this trade i'm done for the day wk and month...one of the best months so far ...	10:30
<Brutus>	I can imagine your equity curve e, well done	10:31
<eminitrader>	thx B ..
<RussellDaytrade>	what!? you mean you are satisfied only trading 98% of the month???? :) wtg!
<eminitrader>	thx RD :))..like i said before ..i am basically not a greedy person	10:32
	Exited Remainder ES Long @ 1525.50 --> - 0.5
<les>	Shorts ER2 @ 851.2
<RussellDaytrade>	trading is good for your health (keeps you from smoking)	10:33
<pat255>	lol rd
<eminitrader>	hehehe ..u got a point there !	10:34
<NihabaAshi>	Exited 1/2 ER2 Long @ 851.00 --> - 0.6
<venedom>	why keep u form smoking you can smoke eat your nail and trade....	10:35
<les>	Covered all ER2 Short @ 850.8 --> + 0.4	10:36
<eminitrader>	if i spoke inside the house ...u dont know the repercursions..my wife's a ****h when it comes to that...and with the kids at home ( vacation time ) ...i'd rather not	10:37
	spoke=smoke
<NihabaAshi>	Exited Remainder ER2 Long @ 851.00 --> + 0.2
<RussellDaytrade>	lol, no speaking inside the house, EM! (but you can text message all you want!)	10:38
<eminitrader>	lol	10:39
<les>	all depends what ur smoking
<eminitrader>	:)
<RussellDaytrade>	still like the smell of it, after all these years / decades	10:40
<eminitrader>	i'm going nostolgic !!!!!!!!!
	miss those days..	10:41
	better come out of it now ..before niha kicks us out of the room :)	10:42
<NihabaAshi>	Long ER2 @ 851.30 -> medium size
<RussellDaytrade>	anybody got the read on the mkt? I think it's a roman candle, that the fireworks display had occured, and now the ashes are slowly drifting down. whaddya think? other sceanrio(s)?
<eminitrader>	looks up ..but some res ..from position traders ...need to see who will come out on the top...	10:43
	ES is what i'm refer to
<NihabaAshi>	Yeah...I have some resistance at 851.60
	Up to 852.00
<jperl>	Todays 1st STd DEv @ 851.75	10:44
<RussellDaytrade>	I wsasurprised it regained it's upward footing this am, had thought a contnuation tto downside was instore.
<NihabaAshi>	Exited all ER2 Long @ 851.10 --> - 0.2
	Shorts ER2 @ 850.90 -> large size	10:45
<eminitrader>	my res on the ES is 1530 ...took it out by a tick ...so really it still is solid res ...may come back to test it
<jperl>	ER2 back at VWAP 850.63	10:46
<NihabaAshi>	I'm just traeading water over the past few trades :(
	Need a mental break but too afraid of missing a big move like I've missed the last few days when taking a mental break or lunch.
<RussellDaytrade>	to me, one a 1 minute chart of es, evn though the high is nearby on a point basis, it lokks visually unassailable	10:47
<venedom>	i think mkt is dead till after july 4th	10:48
<NihabaAshi>	Covered all ER2 Short @ 850.70 --> + 0.2	10:52
	venedom...under normal market conditions it is.
	However, we've been losing volatility for the past few trading days.
	Market is either in a creeper up movement or we're preparing for a big move (volatility spike) after July 4th.	10:53
	Will take a chance and take a break here...hopefully a big move doesn't happen especially since I'm still down for the day.	10:54
	Be back later...taking a very early lunch.
* NihabaAshi	is now known as NihabaAshi_lunch
<les>	niha... we can all prdict big moves here... they happen when u take a break :))	10:56
<PapaJon>	ooh.. u mean les
<les>	its true
<jperl>	while we are waiting for the "big move", here is the one year ER2 chart....	10:57
<les>	its same as when i'm short, all the guys in Chicago know and they start buying
<venedom>	lokl
	lol
<jperl>	http://charts.dacharts.com/2007-06-29/JP ERL_0127.png
	You will note that we have bounced off the 1st STDev about 7 times since the end of March...	10:58
	You will also note that the PVP and VWAP are identical @ 795.50...	10:59
	but....	11:00
	and here is the big but....
	There is a large volume peak growing in at around 830.00
<RussellDaytrade>	er also always rejected as it approached 2SD...looks toppy to me. whaddya think?
<jperl>	If that high volume around 830 eventually becomes the PVP....	11:01
	We could then start heading down toward the VWAP at 795.50	11:02
<RussellDaytrade>	yes, it's a toss-up between 795 and 830, whaddya make of that?
<jperl>	I just told you
<RussellDaytrade>	yes, see that, was typing question as you were already answering it! very nice, about on the radio frequency	11:03
	thx
	the same radio frequency	11:04
<jperl>	Bottom line....
	this market has got to get its butt in gear to the upside now...
	If it wants to avoid the collapse donw to the VWAP.....	11:05
	no more screwing around with that 1st STdDEv
<venedom>	THERE IS n MOVE
<RussellDaytrade>	with as much time as mkt has spent at these levels, and that it is likely to spend a little more time up here...(enuf to to build into larger PVP), I think that 'new' PVP will likely act as a weight...	11:06
	this of course is cbased in part on my bearish bias longer term	11:07
<les>	ok what did i say about niha taking a break and the big move? huh? :)))	11:08
<RussellDaytrade>	good indicator? go short, and then buy him lunch?	11:09
	:)
<les>	dont tell anyone about this new signal
<RussellDaytrade>	funny thing is, whenever I take breakfast, simialar things seem to occur.	11:10
<venedom>	better buy him lunch and go short
<les>	he wont be a happy buny after he gets back, so ithink u right
<RussellDaytrade>	just made money on a trade error, had had an open order to close a short at a lower level from earleir, and had then closed out short, but forgot to pull remaining order to close, which just triggered making me long one. lol...	11:17
	maybe I outta just sprinkle orders about and see what sticks.
	rimm shorts getting taken to woodshed	11:19
<les>	well there were some guys did stocks research like that	11:21
	they used a dartboard to pick em	11:22
	and found they did better than fundamental and tech analysts
<pat255>	yes rd ...panicked traders ..	11:23
<RussellDaytrade>	ironic, and counterintuitve, that rimm is surging on the eve of iphone launch...bet a lot of shorts were setup wrongly on htis.
<les>	rimm?
	wassat?
<RussellDaytrade>	research in motion, maker of the blackberry hand-held device and service	11:24
<les>	ok
	i'll stick with my Palm smartphone for now :)
<pat255>	have a cell phone use for pic here & there & call ..so many functions dont jave time to learn ..but serve the purpose	11:33
<les>	i'm not much of a cellphone user...	11:34
	use mine for database and diary functions mostly
<venedom>	there r people on line in apple stores waiting for the 6pm sell///// crazy no?	11:37
<pat255>	true ..but the young kids have to have the latest to brag to their buddies ..
<venedom>	and the $$ 500-600
<pat255>	we are a scrwed up society ...kids drive the retail in US..	11:38
<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)
<Brutus>	the iphone oz release is in december, you could sell it on Ebay here for a premium	11:40
<venedom>	oz?	11:41
<les>	kids have been driving retail since the 60s
<Brutus>	Australia
<RussellDaytrade>	shorting phone futures!
<les>	ewver since they got more pocket money and newspapaer rounds
<NihabaAshi_lunch>	Shorts ER2 @ 852.30 -> large size	11:42
* NihabaAshi_lunch	is now known as NihabaAshi
<venedom>	wb	11:43
<les>	Shorts ER2 @ 851.6	11:44
<venedom>	Shorts ER2 @ 851.60	11:45
	Shorts ER2 @ 851.30 -> small size
<NihabaAshi>	I can't stay long...I just got back from the Sushi store (long line there) and will now eat my lunch.
<les>	they making a mint outa u there niha :)	11:46
<NihabaAshi>	I just happen to come downstairs to the office to check on the market when I saw a decent trade :)
<venedom>	did you bring me the wakame?
<NihabaAshi>	Les...not for long...spouse bought me all the Sushi stuff (books, supplies et cetera) so that I can make my own :)	11:47
	Will start next week.
<les>	hehe - thats oounds like a lotta woork, but fun
<jperl>	just make sure the fish isn't from China	11:48
<venedom>	we thought you were at the apple store line for the iphone
<les>	Covered all ER2 Short @ 851 --> + 0.6
<venedom>	now it will fall
<les>	of course.. i just exited
<NihabaAshi>	Covered all ER2 Short @ 851.20 --> + 1.1	11:49
<les>	vn entry niha... right on the button
<NihabaAshi>	Be back later...I'm starving.
* NihabaAshi	is now known as NihabaAshi_away
<venedom>	Shorts ER2 @ 850.70 -> Add	11:53
	Covered 1/3 ER2 Short @ 849.70 --> + 1	11:55
	Covered 1/3 ER2 Short @ 849.90 --> + 1.4	11:56
	Covered Remainder ER2 Short @ 850 --> + 1.3	11:57
<RussellDaytrade>	caught a great price break there V, nice trade press
<venedom>	ty it was do or die	11:58
<RussellDaytrade>	go short, buy lunch, go short, buy lunch, go short, buy lunch	12:00
<venedom>	lol
<RussellDaytrade>	hopefully, it's not, go short, bye lunch
<venedom>	here is go short take siesta sell lower and be happy go fiesta	12:01
	sorry buy lower
	out to luch have a nice day happy weekend 4th july etc etc	12:12
	and for a you dont have to sell the house because I am leaving	12:14
<les>	but that was the whole idea
<venedom>	you see les next time we go short and we say goodbye and the people will start selling and we make our money	12:15
<les>	hmmm...
	worth considering
<venedom>	lets think and c u all	12:17
<RussellDaytrade>	YAHOO!closed open short!...what was that, was in bathroom	12:18
	this has about fulfilled my larger structure targets	12:21
* les	is now known as lesAway	12:22
* codehead_afk	is now known as codehead	12:30
* NihabaAshi_away	is now known as NihabaAshi	12:31
<NihabaAshi>	Long ER2 @ 846.30 -> large size	12:33
	Covered ER2 Short @ 845.80 --> + 0.5	12:34
	Reverse and Enter Long ER2 @ 845.80
	Sorry about that...I'll post it correctly...
	Repost...	12:35
	Long ER2 @ 846.30 -> large size
	Exited ER2 Long @ 845.80 --> - 0.5	12:36
	Reverse and Enter Short ER2 @ 845.80
<RussellDaytrade>	target fulfillments are now achieved
<PapaJon>	nice goin rd
<NihabaAshi>	Covered all ER2 Short @ 845.40 --> + 0.4	12:37
<pat255>	unbeilavble lost all the gains for today ..
<RussellDaytrade>	thx PJ, was one of the good ones...amazing, sometimes, it's like I draw a line on the chart, and the price goes there!
<NihabaAshi>	Long ER2 @ 846.40 -> large size	12:40
<RussellDaytrade>	I doubt it travels that high, but I have larger structures in the 851-852 areas, nearbys to 848 range
	but the manner in which they came after yesterdays shorts this am, no telling, they may do it again	12:43
<NihabaAshi>	Exited all ER2 Long @ 847.00 --> + 0.6
	I think I'm down now about -1 point per contract.
	At least the bleeding has stopped and I'm within striking distance of getting green for the day.	12:44
<pat255>	nice recovery niha ..that wud have killed me ..	12:46
<jperl>	Have to leave for a while....trades here....
	http://charts.dacharts.com/2007-06-29/JP ERL_0128.jpg
<NihabaAshi>	pat255...its like a playoff game of a series...	12:47
	If we lose game 1 there's still more games to play to decide who's on top.	12:48
	I had a lot of intuition trades this morning...
* lesAway	is now known as les	12:49
<NihabaAshi>	Haven't taken one intuition trade this afternoon.
<pat255>	yes niha somehow a big loss freezes me ..but need to overcome that
<NihabaAshi>	More importantly, ER2 is back at its normal pace and that means I can reverse a losing trade before the real damage hits.
<pat255>	yeah was crazy this am..
<ItalianSharp>	volatility dead again	12:55
<les>	Long ER2 @ 846.9	13:01
	late entry... damn thing move too quick for me	13:02
<NihabaAshi>	Shorts ER2 @ 846.00 -> large size	13:12
	:(	13:13
	Volatility drying up...expecting a volatility spike here soon.
	Hopefully downwards to test the s/r zone of a prior White Hammer Line.	13:14
	Covered all ER2 Short @ 845.40 --> + 0.6	13:18
	I had a WRB pt @ 845.00 but let it slip through my fingers because of greed :(	13:19
<RussellDaytrade>	GG sez greed is good	13:20
<NihabaAshi>	Long ER2 @ 846.00 -> medium size
	Exited all ER2 Long @ 846.70 --> + 0.7	13:24
	Lucky exit because that entry was a trade mistake.
	Things are starting to balance again because I had a loser today early in the morning that was a trade mistake and it resulted as a loss.	13:25
<pat255>	u have to be lucky too to win this game ..	13:26
<RussellDaytrade>	this move is aproaching nearby target at 848.1 or so	13:28
	closed my small longs at 846.5 or so, when will I ever learn? :)	13:29
<ItalianSharp>	wow, this market today is a total bitch	13:34
	can't get back to back WRBs
<les>	it needs real push to get past this s/r	13:37
	i see buyers, but enough yet	13:38
	c'mon guys... ITS CHEAP
<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)	13:41
<jperl>	ER2 has been bouncing off the 2 month STdDEv 1:30	13:45
	847.70
<les>	here come some buyers	13:47
<jperl>	There is also a new volume peak grwoing in at 846.80
<pat255>	jper meaning?	13:48
<jperl>	Well if the 846.80 peak becomes the PVP for the day....
	we should then get an upswing back to the VWAP at 849.30
<RussellDaytrade>	get ready for future volatility...
<les>	at bloody last	13:49
<RussellDaytrade>	http://elitetrader.com/vb/showthread.php ?s=&threadid=96845&perpage=6&pagenumber= 1
	in the form of removal of upticks rules
<ItalianSharp>	wow, this market aint moving today...choppy and crappy price action...i think i am calling it quits soon because i see no edge trading this shit	14:00
<les>	Exited all ER2 Long @ 847.4 --> + 0.5
	thats it for me today	14:01
<pat255>	guess so les ..this is not easy ,,
<les>	small pickings all round, despite that last effort
	back mon..	14:02
	have a good w/e
<NihabaAshi>	Take care Les
<les>	thx niha
	u2
<RussellDaytrade>	http://youtube.com/watch?v=zVgkcW0luc0	14:04
	afrewell song
	farewell
<NihabaAshi>	Shorts ER2 @ 846.10 -> medium size	14:05
	First intuition trade of the afternoon.	14:06
<ItalianSharp>	jees...first real move of the day since the open	14:09
<NihabaAshi>	Covered all ER2 Short @ 843.90 --> + 2.2
<ItalianSharp>	finally back to back WRBs...been looking for them all day long...too bad i cut down on my size in the afternoon session	14:10
<NihabaAshi>	Yep...back to back and I'm green for the day now.
<ItalianSharp>	well done niha
<NihabaAshi>	Lets see if I can now try to get my profit target goal for the day.	14:11
<pat255>	vn ...patience paid off ...vvn	14:14
	promised that i will not S ER ...sigh	14:15
<NihabaAshi>	Amazing games how the mind plays on us...
	I was mentally tired after a string of losses this morning.	14:16
	I'm now mental refreshed after a string of winners this afternoon :)
	Actually, I just got a headache :(	14:17
* NihabaAshi	is now known as NihabaAshi_away	14:18
* NihabaAshi_away	is now known as NihabaAshi	14:37
<venedom>	g aft	14:41
	any 1 trading or preparing bbq?	14:44
<RussellDaytrade>	JP, that chart you posted earleir, longer term chart with vwap SD's...I see 777	14:48
	just eyeballin it	14:49
<jperl>	If you are talking about the 1 year chart....
<RussellDaytrade>	yes	14:50
<jperl>	VWAP is at 794.70
<RussellDaytrade>	momentun low will exceed, I figger	14:51
	can anyone expalin Sharpe ratios to me in terms I can understand?	14:52
<jperl>	http://en.wikipedia.org/wiki/Sharpe_rati o	14:54
<RussellDaytrade>	lol, thats the version I need help with, sorry, you are chatting with a layman	14:55
	simple question..whats better, a low number, or a gih number?	14:56
<jperl>	Would seem to me a large number.....	14:57
	since its computing the average price above a refernece point.....
	divided by 1 standard deviation
<subq>	you guys going to coninue trading er2 on ice?	15:01
	or move to sp midcap?
<Fleneer>	jperl. std dev on what please?
<jperl>	standard deviation computed from the reference pt	15:02
	So you compute the average price starting from your refernece pt....	15:03
	and then compute the standard deviation of the data from that average price....
	then divide the average by the std dev	15:04
<RussellDaytrade>	trying out the ninjatrader platform, it has a performance reports feature built-in, and it keeps generqating sharpe ratios of 1.00 for every day I have traded there so far, and for the total days together, wondering how to interpret it, and also whehter it's correct, etc
<jperl>	have no idea	15:05
<RussellDaytrade>	thx, like I said, I need the laymans version
<Boybrutus>	Explosive Materials Found In 2nd Car In London -CNN -2-	15:06
<RussellDaytrade>	my daughter's flying thru there next week, her mom is nuts, I went to court to try and prevent it	15:08
	long a little	15:09
	with stops	15:10
<NihabaAshi>	Shorts ER2 @ 840.20 -> large size	15:12
<RussellDaytrade>	stopped
<NihabaAshi>	I missed the drop around 3:02pm est due to some at home distractions here :(	15:13
<RussellDaytrade>	I think that fed rise wsa the last hurrah for mkt rise	15:14
<NihabaAshi>	Covered all ER2 Short @ 838.60 --> + 1.6	15:15
	Got my profit target goal for the day.
<Boybrutus>	good work	15:16
<NihabaAshi>	I even missed some key price movements today due to Lunch and Home Distractions.
<werner>	nice wk all	15:17
<NihabaAshi>	Tough a.m. trading session but things fell (pun intended) into place during the p.m. trading session.
<RussellDaytrade>	approaching the 836 support I spoke of yesterday	15:18
	that was likely enuf for the time being	15:19
<NihabaAshi>	Long ER2 @ 840.70 -> small size	15:20
<jperl>	Done for today....P/L here....	15:26
	http://charts.dacharts.com/2007-06-29/JP ERL_0129.jpg
<NihabaAshi>	Exited ER2 Long @ 840.00 --> - 0.7
	Reverse and Enter Short ER2 @ 840.00
	Covered all ER2 Short @ 839.00 --> + 1	15:30
	Shorts ER2 @ 838.40 -> small size	15:33
	Covered all ER2 Short @ 838.90 --> - 0.5	15:35
	Long ER2 @ 838.60 -> medium size	15:36
<RussellDaytrade>	long a little
<NihabaAshi>	ER2 scrapping the bottom for that support around 838.40	15:37
<RussellDaytrade>	out	15:38
<ItalianSharp>	my goodness, the institutionals must be one of the worst species around...
<NihabaAshi>	Exited all ER2 Long @ 839.80 --> + 1.2
<ItalianSharp>	they take the whole day off until the last hr of trading...
	basically, when everyone is enjoying an early weekend, these pundits decide to shake out the markets...
	i am happy for those traders who like myself stuck around long enough to catch some of this nice volatility	15:39
<NihabaAshi>	I'm done for the day and have doubled my profit target goal for the day.
<RussellDaytrade>	left a buck early from the party, amybe more be the time it's over	15:40
<ItalianSharp>	wow, what a counterthrust move in YM
<NihabaAshi>	Geeesh.
<ItalianSharp>	unreal...this must be some big-time short covering...too bad i shut down my platform 10mins ago	15:41
<NihabaAshi>	Volatility been great since 2pm, kicked into higher gear about 3pm est...
	Now its gone into a higher gear over the past 5 mins.
<ItalianSharp>	wow....look at this thing...there is nothing better than when markets behave like this, even sex comes second to that...:)	15:42
<RussellDaytrade>	this is great, things are happening so fast, I have to scramble to keep with it
<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)	15:44
<RussellDaytrade>	er and es getting pulled apart	16:00
	ok, we have arrived...largest volume bar on the close of er I have ever seen	16:01
	looks like a bogus reach doiwn to relieve stops, courtesy of your friends at he cme	16:02
	sweet feloows that they are	16:03
<NihabaAshi>	Take care all and have nice holiday.	16:14
	Great way to end the month with some strong volatility in the p.m. trading session.
	I may take Monday and Tuesday off from trading or do very little trading.	16:19
	Bye all.
* NihabaAshi	is now known as NihabaAshi_away	16:34
<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)	17:50
* DisconnectedSession	Close: Fri Jun 29 18:43:24 2007	18:43
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