July 3rd Monday 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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ER2 EuroFX EC
+2.60 +0.001
$260.00 $125.00

Counter-Trend Trading  

Light trading day today due to tomorrow's holiday trading session.

Days like today can be tricky for most traders because they will often confuse the light volume or low volatility with trend exhaustion price action...resulting in the tendency to counter-trend trade.

I don't recommend counter-trend trading (this is different from trend reversal trading) to any new trader or a trader that's new to a particular strategy.

It's too risky, often leads to over-trading and worst.

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 July...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.

  

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Session Start: Mon Jul 03 09:29:21 2006Session Ident: #futurestrades
* Now talking in #futurestrades09:29
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<NihabaAshi>  Shorts ER2 @ 729.40 -> small size 09:34

I'll be trading light today due to the fact its a pre-holiday trading session.09:35

Shorts ER2 @ 730.20 -> Add 09:40

Covered ER2 Short @ 730.90 --> - 1.5 09:42

Reverse and Enter Long ER2 @ 730.90

Prior short position: -1.50 and -0.7009:44

:(09:46

Exited all ER2 Long @ 731.20 --> + 0.3 09:49
<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)09:51
<szubaark>  Shorts YM @ 11273 09:52
<NihabaAshi>  Shorts ER2 @ 730.10 -> small size 09:55
<szubaark> Im just going to scalp this.. already dont like this Price Action
<markc> Construction spending figures out at 10:00 a.m.09:56
<szubaark> code mittens Ghost forming on ES,NQ
  
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<markc> http://biz.yahoo.com/c/e.html09:57
<NihabaAshi> Geesh...the volatility and volume has been declining steadily since 0945am est.10:01

I didn't think such would occur until around 1030am - 1100am est10:03
<szubaark>  Covered all YM Short @ 11267 --> + 6 10:04
onlt thing u can do is scalp this for pennies
<NihabaAshi>  Covered all ER2 Short @ 730.00 --> + 0.1 10:05

Long ER2 @ 730.80 -> small size 10:09

szu...you can also keep your position size small to better control the increase risk exposure on trading days like today.10:10

My big error of the day is that I forgot that CME EuroFX EC is better to trade on holiday trading sessions in comparison to ER2.10:11

This is my last trade in ER2 today and will be switching over to EuroFX EC.

Long EuroFX @ 1.28730 small size10:14

Long (add) EuroFX @ 1.28810

Exit 1/2 EuroFX @ 1.28840 ---> +0.000310:17

Exit remainder EuroFX EC @ 1.28800 ---> +0.000710:18
<codehead> when does ER etc close today?10:19
nyse etc 10 eastern, ya?
no sorry10:20
1
pm
10 my time
<NihabaAshi> I'm not sure but all I now is that its volatilty suck and not worth trading it much longer.
<codehead> groggy--lol
<szubaark> Niha is it typical for summer months for market to be in more consolidation patterns? Im noticing im impatient a lot and getting whacked in consolidation zones.10:30
<NihabaAshi>  Exited all ER2 Long @ 732.10 --> + 1.3 10:31
  

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<WannaBeBOS> baark, come back after labor day :0

:)
<NihabaAshi> I think I'm done for the day because when there's no volatility...I'm like fish out of water and things begin to stink fast.
  
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   Trading Strategies ->   These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: 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) and Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY) 
  
<szubaark>  Long NQ @ 1596.75 10:32

slow,controlled upmove all day on Low Volume type day??10:41
<timing> no upmove10:45
<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)11:03
<szubaark>  Exited all NQ Long @ 1596.25 --> - 0.5 11:09
this is ridiculous
* szubaark is now known as szubaark_away11:10
<PapaJon> gm all11:54
<szubaark_away> gm papa11:55
<codehead> short Ym 11286 stop 92
<PapaJon> Happy 4th all (tomorrow)... cya weds11:56
  
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<szubaark_away> code this is slow,controlled upmove.. these are impossible to Short and make money12:08
<codehead> ya

noticed
<szubaark_away> [10:41] <szubaark> slow,controlled upmove all day on Low Volume type day??
[10:46] <timing> no upmove
<codehead> short the ghost

9112:09

took one off +3 already lol--back to flat on futs tho, been trading stock today
<szubaark_away> Im not touching this.. too much risk playing with floor boys12:10
<codehead> stop to b/o on the other contract12:12
<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> was meant for that time zub12:17

sell into close or p/b 87-86 es

i m ss
<codehead> exit +1 on remainder12:18
tried to let the ghost work, but no juice
<NihabaAshi>  #FuturesTrades Purpose -> No gurus here, no signal calling by a head trader and no intentions to educate. This room is being used as a realtime trade journal of trades (real money or simulator) and discussions to add additional info to your brokerage statements. Do not mimic (shadow) the trades by others without their consent as stated at http://www.thestrategylab.com/FuturesTradesChatRoom.htm12:48

Take care all and have a safe July 4th holiday.13:13

Bye
* DisconnectedSession Close: Mon Jul 03 13:13:26 2006

We are proud to say that our chat room members are from the following geographical areas in the world:

Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Israel, Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

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

CME Emini Futures ES, NQ and ER2 

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

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

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

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

Last of all, if you have any questions about either #EminiFutures general market chat room, #FuturesTrades realtime trade posting room or the two realtime strategy discussion rooms used by traders with access to our fee-based strategies called #TheStrategyLab and #SwingTradingTSL...

Don't hesitate to ask your questions and we'll reply back as soon as possible.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

questions@thestrategylab.com

"The point of this whole exercise is to make money. Everything else is just conversation." --Jonathan Hoenig


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