July 5th Wednesday 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
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Market Seasonal Tendencies  

Today was one of those market seasonal tendency trading days where a particular type of price action had a high probability of occurring based upon past statistics.

The first trading day after July 4th U.S. holiday is usually (high tendency) to be a trend day...up or down.

Therefore, I entered my trading day with the intention of day trading with a goal of converting any remainders from a profitable position into a position trade.

Unfortunately for my Short position as a position trade, Eurex and Euronext lead a rally off the lows to prevent today from being a downtrend. 

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: Wed Jul 05 09:09:28 2006Session Ident: #futurestrades
* Now talking in #futurestrades09:09
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.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)09:18
* szubaark_away is now known as szubaark09:26
<szubaark> gm
<Awash> morning
<eminitrader> morn szu, A09:31
<szubaark> gm emini
<eminitrader> :)09:32
<les>  Shorts ER2 @ 727.4 paper 09:33

Covered 2/3 ER2 Short @ 726.9 --> + 0.5 paper

exit stop moved to breakeven ER2 @ 727.4 paper
<aym> Buy ER2 @ 726.2 risk 209:34
<eminitrader>  Long ES @ 1281
<les>  Covered Remainder ER2 Short @ 726.6 --> + 0.8 paper 09:35
Shorts ER2 @ 725.9 paper 09:36
<aym> Exit ER2 @ 726.509:37
<les>  Covered all ER2 Short @ 727 --> - 1.1 paper 09:41
  
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<NihabaAshi>  Shorts ER2 @ 726.50 -> small size 09:42
<les>  Shorts ER2 @ 725.7 paper 09:45
<eminitrader>  Exited all ES Long @ 1281 --> 0 09:47

Shorts ES @ 1280.50
<les>  Covered 1/3 ER2 Short @ 725.2 --> + 0.5 paper
<NihabaAshi>  Covered 1/3 ER2 Short @ 725.00 --> + 1.5 09:48
<les>  exit stop moved to breakeven ER2 @ 725.7 paper 09:49
<NihabaAshi>  exit stop set ER2 @ 726.40
<les>  Trailing Stop Hit ER2 @ 725.7 --> 0 paper
<eminitrader>  Covered ES Short @ 1280 --> + 0.5 09:52

Reverse and Enter Long ES @ 1280
<NihabaAshi> szubaark...remember your question last week about the trading days of the July 4th week?
I had replied that the first trading day "after" the July 4th is usually a TREND DAY.09:53
Up or down.
Today is a good day for a "position trade" instead of moving in and out as day trades.09:54
<szubaark> yes Niha.. thats what it looks like09:55
<NihabaAshi>  Covered 1/3 ER2 Short @ 722.90 --> + 3.6 09:56
Converting my remainder into a "position trade" and will just leave it alone.09:57
Hopefully, I can stay in it all day.
We still have a 10am est key economic report.09:59
Factory Orders
<les>  Shorts ER2 @ 722.6 paper 10:04

Covered 1/3 ER2 Short @ 722.1 --> - 722.6 paper 10:05
<eminitrader>  Exited all ES Long @ 1278.50 --> - 1.5
<szubaark>  Shorts NQ @ 1575
<les> thats odd10:06
script gave out nonsense
Covered 1/3 ER2 Short @ 720.1 --> - 722.6 paper
again
posting it all again10:07
Shorts ER2 @ 722.6 paper 10:08
Covered 1/3 ER2 Short @ 722.1 --> + 0.5 paper
Covered 1/3 ER2 Short @ 720.1 --> + 2.5 paper
wrong
Covered 1/3 ER2 Short @ 721.5 --> + 1.1 paper 10:09
one contract leftleft
Covered Remainder ER2 Short @ 722.6 --> 0 paper 10:12
<szubaark>  Covered all NQ Short @ 1575 --> 0

Shorts NQ @ 1574 10:24
<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)10:27
<szubaark> code possible zrl setting up10:34
<NihabaAshi> News: Enron's former chairman Key Lay died of a massive coronary heart attack last night...he had been convicted (found guilty back in May) for defrauding investors, employees and bank fraud. He was schedule for sentencing in October.10:42
http://news.yahoo.com/s/ap/20060705/ap_o n_bi_ge/obit_lay_310:44
* Awash is now known as Awash_afk10:51
<szubaark>  Covered all NQ Short @ 1568 --> + 6 10:58
<NihabaAshi> Nice trade szu.11:01
<szubaark> thanks. Went with the trend.11:02
  

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<NihabaAshi> So far we have a trend day and its one of those "creeper trends"...11:03

No panic...just creeps lower and lower without any significant counter-thrusts.

This is a critical price zone for ER2...11:05

If it's going to do a decent counter-thrust back upwards...its in an area that could attract some buyers and shift the supply/demand.11:06

If it fails...it could easily push down another 2 points or more.

France vs. Portugal today in the remaining semifinal match at the World Cup to decide whom plays Italy in the championship game.11:17

If I'm still in this "position trade" by 2:30pm est (soccer match time)...I will close this position trade and watch the soccer game.11:18
<eminitrader> yep..waiting for it11:21
guess its a france/italy final
<timing> portugal is good team11:26
<codehead> bit of an inv ghost on YM 3 min
  
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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) 
  
<eminitrader> but have not won against france in all their games11:27
<szubaark> code.. my 34 EMA is telling to stay away from longs
<codehead> yeah, i'm not buying11:28
<szubaark> in a downtrend ghosts look beautiful, but problem is u wont get any followthru
<codehead> waiting for bounce to short
<eminitrader> me too
<szubaark> yeah me too11:29
<eminitrader> wondering if we will get it today
mean before the game
<szubaark> right now any ZRL is a good setup.. ev erything else STAY AWAY
<codehead> long YM 11195 <paper>11:34
just testing pattern
<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)11:39
<codehead> exit half YM +8 <paper>11:40
stop b/e on remainder11:41
best thing about paper trades--no commish, all profit ;-)
stop hit, exit remainder +011:45
so far that was the low11:46
<szubaark> notice the fakeout on that ZRL11:55

Shorts NQ @ 1568.25 12:05
<eminitrader>  Shorts ES @ 1277.75 12:15
<aym> Short QM @ 74.45 risk 0.212:17
<szubaark> emini just curious, where is yur Stop?12:27
<eminitrader> on this one i will add on # 1279.75 and have a stop @ 1288.5012:31

good short @ avg 1278.7512:33

sorry szu that was not 1288.50 read 1280.5012:34

too strong a trend for an reverse beyond that12:35

my 2 cents :))

only concern is the gap12:36
<szubaark> Niha NQ 5min 12:35 Eastern Candle is that Inverted Dark Hammer Line? and is it a entry pattern for you?
<eminitrader> as per my read NQ res @ 1571 if that breaks next level 127612:38
<szubaark> Ive noticed good followthru on NQ lately so im switching to trading it.. YM is just getting too jumpy12:39
<eminitrader> thats right szu only observation is that u'll probably need more ticks on stops than the es due to its moves12:41

good luck on the NQ :)
<szubaark> They made NQ $5 a tick now.12:43
<eminitrader> didn't know that
<NihabaAshi> szu...yes that's a Dark Inverted Hammer Line..12:45
No its not a valid pattern.12:46
<szubaark> ok.
<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)12:51
<eminitrader>  Shorts ES @ 1277.75 -> Add 13:07

Covered all ES Short @ 1278.75 --> - 2 13:14
<szubaark>  Covered all NQ Short @ 1570.75 --> - 2.5
they going for Gap???
Long NQ @ 1570.75
<eminitrader> looks like it13:15

i will short again @ 1280
<szubaark> Im Reversing Long.. this starting to look like possible Reversal day13:16
<eminitrader> i just want to be with the trend for now..with one more short13:17

Shorts ES @ 1280.25 13:20
<szubaark> we are due for one of those reversal days.. havent seen one in a while
<NihabaAshi>  Covered Remainder ER2 Short @ 725.00 --> + 1.5 13:24

My remainder couldn't survive that counter-thrust back upwards.13:25

I had all the odds on my side that today was going to be a trend day (still can if it reverses and retest the lows) but it wasn't meant to be :(13:26

On that note...I'm going to take it easy and prepare for the France vs. Portugal soccer game.13:27
<eminitrader> :)
go ZADINE
<NihabaAshi> By the way...Eurex lead that bounce off the lows and the Eminis followed...13:31
<eminitrader>  Covered all ES Short @ 1280.75 --> - 0.5
<NihabaAshi> I just didn't think it would counter-thrust back upwards that much as the Eminis followed Eurex.13:32
<eminitrader>  Shorts ES @ 1280.25 13:34
last trade with a 1 pt stop
<szubaark>  exit stop set NQ @ 1570.75 13:35

Exited all NQ Long @ 1570.75 --> 0 13:44

Shorts NQ @ 1570.75

emini Shorts looking good13:57
<eminitrader> looks like it szu :)13:58
<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)14:00
* Awash_afk is now known as Awash14:09
<szubaark>  exit stop set NQ @ 1570.75 14:24

Covered all NQ Short @ 1570.75 --> 0 14:29

:((
<eminitrader>  Covered all ES Short @ 1280.25 --> 0 14:33
<szubaark>  Long NQ @ 1572.25 14:35
<eminitrader> nice one szu :)14:38
<szubaark> yeah.. im still Slow14:39

exit stop set NQ @ 1572.25 15:00

Exited all NQ Long @ 1573.75 --> + 1.5 15:05

Shorts NQ @ 1573.75
<codehead> bond close signal: <mikee> signal is bearish, small pop up 1st15:06
<szubaark> code...YM possible HTLB here..good signal15:08
<codehead> hm ya
friend says tomorrow trend day, no turns expected
<szubaark>  exit stop set NQ @ 1573.75 15:09
<codehead> didn't see the Ym 3 min ghost cuz i had something else up on that chart15:12
<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)
<szubaark> mittens ghosts are hard to Spot
<codehead> that one a regular ghost

the one i'm looking at
<szubaark> Oil new Highs15:20
Covered all NQ Short @ 1568.75 --> + 5 15:40
<NihabaAshi>  Reminder -> Today's #FuturesTrades chat room trade logs for you to add to your daily broker statement to give the numbers more meaning are posted @ http://www.thestrategylab.com/RecentTrades.htm (logs will be updated tonight by 9pm est to current)16:13

Take care all and see all tomorrow.16:14
* NihabaAshi is now known as NihabaAshi_away
* DisconnectedSession Close: Wed Jul 05 16:16:19 200616:16
  
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In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:  

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CBOT mini-sized Dow Futures YM

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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...

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TheStrategyLab.com

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