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#FuturesTrades July 5th Thursday 2007 Trade Log

 

Russell 2000 Emini ER2 Futures

Today Month Year
+12.40 +20.40 +1708.90
$1,240 $2,040 $170,890

click on image to view actual size

 

Current Performance Record

Current ER2 Key WRB S/R Zones

Profit/Loss Statement

 

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 or participate in the market discussions.

  Lurking (not participating) in #FuturesTrades will not allow you to reach your trading goals. Therefore, its to your benefit to ask the profitable members questions or help with your trading.

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.

In fact, many of my trades or profit targets will occur within key WRB support/resistance zones because these price areas gives me a better understanding of key changes in supply demand.

  Traditional pivot point analysis or traditional s/r levels are inadequate in understanding changes in supply/demand of the Russell 2000 Emini ER2 or any other trading instrument of today's markets in comparison to WRB Analysis.

WRB Analysis is also a key aspect in my use of intermarket analysis, market seasonal tendencies, volatility analysis and custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

Further, position size management is a key aspect of my trading and I trade any where between 1 to 9 contracts per trade depending upon the volatility, trade signal and seasonal tendencies.

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.

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: Thu Jul 05 09:29:14 2007Session 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
<Brutus> OIL FUTURES: Nymex Crude Extends Gains, Tops $72.00/Bbl
<pat255> may be fill the gaps ..09:34
<NihabaAshi>  Long ER2 @ 853.80 -> medium size 09:39
<pat255> vn niha dang missed the right entry09:40
<NihabaAshi>  Exited 2/3 ER2 Long @ 854.80 --> + 1 09:41

It should have been better at a 853.60 but I hesitated.

Exited ER2 Long @ 856.00 --> + 2.2 09:46

Holding 1 contract remainder
<Brutus> 1000/1400 Jun ISM Non-Mfg Index 57.5 59.709:49
1030/1430 Jun 29 US Energy Dept Crude Oil Stocks
<eminitrader>  Shorts ES @ 1537.25 09:58
<NihabaAshi> I needed help from Oil for ER2 to reach 858.00 and Oil decided not to help :(10:07
<eminitrader>  Covered 1/2 ES Short @ 1535.75 --> + 1.5
<NihabaAshi> Gold decided to leave the party too :(
<eminitrader>  exit stop moved to breakeven ES @ 1537.25 10:08
<jperl> ER2 VWAP congestion just has not opened up this morning.....10:09
so I'm just standing aside for now.....
http://charts.dacharts.com/2007-07-05/JP ERL_0138.png
There are pause points all over the place10:10
<eminitrader>  Covered Remainder ES Short @ 1537.25 --> 0
<NihabaAshi> The 1030am est EIA Petroleum Status Report is next in about 9 minutes10:20
I am hoping to be in this trade still when that report is released.
  
Trading Edge: 

Strategies

If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management with a money back guaranteed policy...click here.
   Trading Strategies ->   These strategies, from entry to exit,  will exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments via WRB Analysis: 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), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI) 
  
<pdays>  Shorts ER2 @ 855.6 10:23
<Awash> good morning all
over slept
doesn't look like I missed much10:24
<pdays>  Covered all ER2 Short @ 855 --> + 0.6
<eminitrader>  Long ES @ 1535.25
<NihabaAshi> Wow...10:29

Oil plunging...

I'm ready to reverse ER2 if needed.10:30
<eminitrader>  Exited 1/2 ES Long @ 1536.75 --> + 1.5 10:31
<NihabaAshi> ER2 wants UP badly but is still trying to find some support from such in the other key markets.10:34

If Oil and Gold can stop dropping and act like they want to reverse back upwards...

I'll get my profit target of 858.0010:35
<eminitrader>  Exited 1/3 ES Long @ 1537.75 --> + 2.5
<jperl> Oil announcement didn't do squat in opening up the congestion in ER210:39

still standing aside10:40
<NihabaAshi> There still can be a "late or delayed" price reaction (not unusual) to an EIA Petroleum Report.10:41
<jperl> ER2 PVP =856.20, VWAP = 855.6010:42
<eminitrader>  Exited Remainder ES Long @ 1535.75 --> + 0.5
<jperl> With VWAP below the PVP, expect a down move....but....

there is so much congestion on the down side I don't want to touch it
<pat255> jper pvp ...?10:48
<NihabaAshi>  Exited ER2 Long @ 855.20 --> + 1.4 10:49

Reverse and Enter Short ER2 @ 855.20

Added a few contracts on the reversal.10:50
<jperl> PVP = peak volume price.....price where volume for the day is maximum
<eminitrader>  Long ES @ 1533.50
<NihabaAshi> Caught the break below the low of a Hammer line.
Another Hammer line is forming :(10:51
<Awash>  Long ES @ 1533.50 10:52
<eminitrader>  Exited 1/2 ES Long @ 1534.50 --> + 1 10:53
exit stop moved to breakeven ES @ 1533.50 10:54
<NihabaAshi>  Covered all ER2 Short @ 854.80 --> + 0.4 10:55
<eminitrader>  Exited Remainder ES Long @ 1533.50 --> 0 11:01
<NihabaAshi>  Shorts ER2 @ 854.00 -> medium size

Another penetration below a Dark Hammer Line.

Covered 2/3 ER2 Short @ 852.70 --> + 1.3 11:03

Looks like the "late or delayed" price reaction to the Oil Report was around 1048am - 1050am est.11:04

Covered Remainder ER2 Short @ 853.80 --> + 0.2 11:07
<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)11:09
<eminitrader>  Shorts ES @ 1535.50 11:22

Covered 1/2 ES Short @ 1534 --> + 1.5 11:31

Shorts ES @ 1535.50 -> Add 11:41

Covered 1/2 ES Short @ 1533.50 --> + 2 11:44
<Brutus> 10Y yeild 5.1311:45
<pat255> k guys later back to office ty all
<eminitrader>  Covered 1/3 ES Short @ 1532.50 --> + 3 11:57
<Brutus>  Long ES @ 1532.5 «« paper »»

exit stop set ES @ 1531.5 «« paper »» 11:58
<eminitrader>  Covered Remainder ES Short @ 1534.50 --> + 1 12:03
<Brutus>  exit stop set ES @ 1532.5 «« paper »» 12:04

would scale out if I had multiple contracts :(12:05

Exited ES Long @ 1532.5 --> 0 «« paper »»
<NihabaAshi>  Long ER2 @ 853.10 -> small size 12:07
:(12:08
<Brutus>  Long ES @ 1531.75 «« paper »» 12:12

exit stop set ES @ 1531 «« paper »» 12:13
<NihabaAshi>  Exited ER2 Long @ 853.30 --> + 0.2 12:16
That was a tough 1 contract trade for me due to some family distractions.12:17
Be back later.
* NihabaAshi is now known as NihabaAshi_away
<Brutus>  exit stop set ES @ 1530.75 «« paper »» 12:21
<Awash>  Long ES @ 1530.75 12:30
<Brutus>  Exited ES Long @ 1530.75 --> - 1 «« paper »» 12:34
Long ES @ 1529.25 «« paper »» 12:35
exit stop set ES @ 1527.75 «« paper »» 12:43
<Awash> trend is down12:52
<Brutus> Then why are you long A?12:54
<Awash> bullish bias, anticipating advance, but ignoring what the chart is saying, not trading as well on this one12:56

S2 area held
<Brutus> k thx13:01
<eminitrader>  Shorts ES @ 1530.50 13:04

looks like i was a bit early on this one13:06
<Awash> you plan to exit and reenter at higher prices?
<eminitrader> no will hold and add on

nq at res area ...will hold this for some more time..13:07
<Brutus>  Exited 1/2 ES Long @ 1531.25 --> + 2 «« paper »» 13:11
exit stop set ES @ 1529.25 «« paper »»
<eminitrader>  Shorts ES @ 1532 -> Add
<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)13:12
<Brutus> target on 2nd is 1537.513:14
<Awash> brutus, you watching any R levels prior to 2nd target?13:15
<Brutus> Yes A play it as it goes, got a bigger play in mind & but dont want to lose my position13:18
<Awash> k
<Brutus> Also If I get stopped out I will least have a very small profit so its fine by me13:19
<Awash> k
  
WRB Analysis
  
<eminitrader>  Shorts ES @ 1532 -> Add 13:23

holding 10
<Brutus> Friday, July 6, 200713:27
ET/GMT Expected Previous
0830/1230 Jun Non-farm Payrolls +125K +157K
0830/1230 Jun Unemployment Rate 4.5% 4.5%
<Awash> PA still stalling here in 1532 area13:29
<eminitrader> prolly new lows :))13:30
<Awash> i have a down TL-break
<eminitrader> 1532-1535 res area..will prolly test lows before breaking this area ...but dont see it happening till 1526 area is tested13:31
<Awash> watching 1533.50 area13:32
<Brutus> NQ looks strong E
<eminitrader> still in res area ..while es and ym have justbreached theirs13:33
<Brutus> k
<eminitrader> critical price area...and u cld be right B ..if nq breks res..then ES may follow...lest wait and see how it unfolds13:34

Shorts ES @ 1533 -> Add 13:35
<Awash>  Exited 1/2 ES Long @ 1533 --> + 2.25
Exit all (initial Long from 1533.50) - 0.5013:36
<eminitrader> holding 15 avg 1531.87.50
<Awash> Exit half from add (1530.75) + 2.2513:37
<eminitrader> nice trade A
<Awash> not on the first Long from 1533.50
<eminitrader> nice exit ..think this upmove is prolly done13:38
<Awash> didn't exit at 1535 like i should have around 10:23 CST & again at 10:42 CST
<eminitrader> never know A cld still test that area..but low probability
* NihabaAshi_away is now known as NihabaAshi13:51
<Awash>  exit stop raised ES @ 1531 13:56

be back in a bit13:57
* Awash is now known as Awash_lunch
<eminitrader>  Covered 1/3 ES Short @ 1531.25 --> + 1.75 13:58

Covered all ES Short @ 1534.75 --> - 4.25 14:18
<NihabaAshi>  Long ER2 @ 853.70 -> small size 15:00
<jperl> didn't see much point in trading today....too much congestion....15:07

trades here....

http://charts.dacharts.com/2007-07-05/JP ERL_0140.jpg
<NihabaAshi>  Exited all ER2 Long @ 854.00 --> + 0.3 15:08
<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)15:18
<Brutus>  Exited all ES Long @ 1534.5 --> + 5.25 «« paper »»
* ItalianSharp is now known as ItalianSharp_dinner15:32
* sep34 is now known as sep34_away15:35
<werner> gn all15:39
<NihabaAshi> Another relaxing easy going trading day and I hope tomorrow is the same.17:24

Take care and see all tomorrow.
* DisconnectedSession Close: Thu Jul 05 17:24:55 2007
  
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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

Forex Currencies EurUsd, EurYen and UsdCdn

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

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

COMEX Metals Gold GC

Hang Seng Index Futures HSI

Last of all, if you have any questions about any of the above commentary, specific trades et cetera...

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

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