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#FuturesTrades July 10th Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+16.80	+66.70	+1755.20
$1,680	$6,670	$175,520

Not Available

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Current Performance Record

July 11th 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 nor will it answer your questions that you need answered to help with your trading. Therefore, it's to your benefit to participate in #FuturesTrades to prevent us from thinking you don't need any help.

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: Tue Jul 10 08:51:45 2007Session 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

<pat255> gm ..all 09:17

* subq market profile charts for today

<pat255> oh my mkt drop for a change .. 09:18

* subq http://www.charthub.com/images/2007/07/1 0/er2_rth_mp.png

http://www.charthub.com/images/2007/07/1 0/es_rth_mp.png

http://www.charthub.com/images/2007/07/1 0/nq_rth_mp.png

http://www.charthub.com/images/2007/07/1 0/ym_rth_mp.png

* Looking up PowerPlay user info... 09:21

<ripsboy> Good mourning & good trading to all... 09:22

<PapaJon> gm all 09:24

* lesAway is now known as les 09:27

<NihabaAshi> Long ER2 @ 851.90 -> small size 09:35

I'm not getting the support I was looking for...will dump soon. 09:37

Exited all ER2 Long @ 852.60 --> + 0.7 09:38

Shorts ER2 @ 851.80 -> small size 09:39

<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> Gold is getting weaker and Oil doesn't look like it wants to go up (just sitting there). 09:40

Covered 2/3 ER2 Short @ 849.70 --> + 2.1 09:42

Trading Edge:
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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)

<Awash> howdy all 09:47

<NihabaAshi> Key Economic Events Alert -> The following will cause volatility at/near 10am est Wholesale Trade and 1pm est FED Chairman Bernanke speech. 09:51

<Awash> retest on deck 10:01

<eminitrader> Long ES @ 1531.50 10:04

Long ES @ 1531.50 -> Add 10:08

<NihabaAshi> Covered Remainder ER2 Short @ 850.70 --> + 1.1 10:09

<eminitrader> Exited 1/3 ES Long @ 1533.50 --> + 2

<szubaark> nice emini

<eminitrader> thx szu..set-up wasof the long term chart 10:10

Exited 1/3 ES Long @ 1533.50 --> + 2 10:12

Exited ES Long @ 1534.75 --> + 3.25 10:13

Reverse and Enter Short ES @ 1534.75

Shorts ES @ 1535 -> Add 10:21

<pdays> Shorts ER2 @ 852.6

Covered all ER2 Short @ 852.4 --> + 0.2 10:22

<eminitrader> pa confirms a pullback :) 10:26

Covered 1/2 ES Short @ 1533 --> + 2 10:27

<jperl> ER2 @ VWAP 851.26 10:28

peak volume above at 852.40 10:29

<pat255> em wheer was the stop for u on this S?

<eminitrader> 1536.75 10:30

<pat255> ty

<eminitrader> res area from overnight chart 10:31

Covered ES Short @ 1532 --> + 2.75

Reverse and Enter Long ES @ 1532

be back...stop in place 10:36

<jperl> a lot of pressure on ER2 to the down side.... 10:45

you can see that in the market statistics on the 2 week chart shown here....

http://charts.dacharts.com/2007-07-10/JP ERL_013.jpg

VWAP is at 844.91 with peak volume price well above at 851.00 10:46

expectation is a move down to the VWAP

<eminitrader> Exited all ES Long @ 1531.50 --> - 0.5

<ItalianSharp> the euro hit all-time highs against the greenback 10:47

this is crazy

<eminitrader> Long ES @ 1531

<ItalianSharp> i am wondering what's the main reason behind it

<eminitrader> looks like nq holding the ES around this area 10:49

<Brutus> 12th is BOJ meeting, maybe related ??? 10:50

<ItalianSharp> brutus, i don't know...euro has been strong across the board against all other currencies

i am just wondering what's making the euro so strong and why so many goddam people are buying euros...that's beyond me being european...i wouldn't invest one cent of my own savings into the euro at this price 10:51

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={83a0b a1d-5164-467a-b5f7-93223bdb8b05} 10:52

<ItalianSharp> my personal belief behind this whole US dollar weakness is that the US likes the idea to have a weak dollar to increase exports and allow the economy to have a soft landing 10:53

that's the only thing i can rationally come up with

<eminitrader> Exited 1/3 ES Long @ 1533 --> + 2

<ItalianSharp> on the other hand, a very strong euro will slow down european economy and reduce inflation risks, something the ECB likes at this stage 10:54

<pat255> IS we are in massive debts ..we cant support the $ if we want to ..

<ItalianSharp> pat, what country isn't in massive debts? take a look at the EU member countries and tell me whether you would trade US deficit with Italy's, Romania's, Bulgaria's, Spain's or Portugal's... 10:55

<Awash> Long ES @ 1533.50

<ItalianSharp> i am still a strong believer that the euro will come down very hard as soon as the US economy has hit the bottom 10:56

<jperl> Only two b/e trades this morning....

<ItalianSharp> in fact, i am starting to contemplate an investment in US denominated bonds

<jperl> http://charts.dacharts.com/2007-07-10/JP ERL_014.jpg

<venedom> gm 11:12

<pat255> finally es broke a little .. 11:16

<Awash> watching to see if we can continue to advance higher

<eminitrader> Exited 1/2 ES Long @ 1537 --> + 6

holding 2

<Awash> nice

<eminitrader> for gap fill

<Brutus> Good trading e 11:17

<eminitrader> thx A ...see res here hope the pullback does not take out my stop

thx B

<Awash> this is a good volume b/o

<eminitrader> two trades today were of the long term charts.. 11:18

<Awash> look at the volume on this 11:19

exit stop raised ES @ 1533.75 11:20

<venedom> hi again 11:30

quiet room today?

<Awash> any thoughts on this current pullback from 1538 area (PDL as R)? 11:34

<venedom> looks like summer days are here

Long ER2 @ 851.30 11:35

tight st 11:36

851.2 st now

b/e st 11:37

Exited all ER2 Long @ 851.3 --> 0

<Awash> Exited all ES Long @ 1535.50 --> + 2 11:48

should have played it differently

* jperl_away is now known as jperl 11:52

<jperl> mIRC doing strange things

<NihabaAshi> Looks like the big price drop in the overnight trading session took the volatility out of the market for the regular hours trading session. 11:53

<venedom> these is getting bored with the computer problem today 11:54

3rd time i get disconected

<eminitrader> exit stop raised ES @ 1533 12:04

<NihabaAshi> Shorts ER2 @ 849.80 -> small size 12:13

Covered ER2 Short @ 850.00 --> - 0.2 12:20

Reverse and Enter Long ER2 @ 850.00

<venedom> Long ER2 @ 850 12:21

<NihabaAshi> Exited all ER2 Long @ 850.20 --> + 0.2 12:23

<venedom> Exited all ER2 Long @ 850.3 --> + 0.3 12:27

<eminitrader> Exited Remainder ES Long @ 1533 --> + 2

late post 12:28

<venedom> gm emini

<eminitrader> morn v

<venedom> nonja why dont u go have lunch and we go short lol

nonja = ninja 12:29

Shorts ER2 @ 850 12:30

Covered all ER2 Short @ 850.20 --> - 0.2 12:31

<ItalianSharp> we got bernanke due up in 20mins to speak about US inflation...should be interesting 12:40

<venedom> time 4 luch c u later 12:43

<NihabaAshi> Shorts ER2 @ 849.60 -> small size 12:49

<Fleneer> Thinkig we long here but with Bernie speaking in 10 min I gonna sit out. 12:51

<NihabaAshi> Covered all ER2 Short @ 849.90 --> - 0.3 12:56

<Brutus> Er looks like its itching to make new lows, its been weak all day 12:59

Fed Bernanke: Inflation Expectations 'Imperfectly Anchored' 13:00

<Awash> what does that mean?

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={4e328 af1-f980-4458-b2bf-df8d645f8509} 13:01

<NihabaAshi> Long ER2 @ 851.00 -> small size 13:02

Long ER2 @ 850.60 -> Add 13:04

Levels are getting thinner. 13:05

<eminitrader> Long ES @ 1533 13:06

2 tick stop

nice area to get long in terms of risk/probability 13:07

Exited 1/3 ES Long @ 1534.50 --> + 1.5

<NihabaAshi> Long ER2 @ 849.60 -> Add 13:08

<eminitrader> exit stop raised ES @ 1533.25 13:09

there we go ..pa confirms upmove on ES 13:11

shld at least attempt to test the higs 13:12

<NihabaAshi> Exited 1/3 ER2 Long @ 850.70 --> + 1.1

<eminitrader> Exited 1/3 ES Long @ 1536 --> + 3 13:13

<NihabaAshi> Exited 1/3 ER2 Long @ 850.80 --> - 0.2

That's +0.2 on that third...

Still holding 1/3 remainder from 851.00 13:14

<eminitrader> holding 4 ...will hold for gap fill 13:15

:(( 13:17

Exited Remainder ES Long @ 1533.25 --> + 0.25

done for the day ...good trading all

<Brutus> If they are going to move it 10 points e I feel they will wash out 1532.75 first 13:18

<eminitrader> why so B ?

think if it takes out 32.75 will lose its supp and will see increasing selling pressure 13:19

next supp may be lod

28-30 area 13:20

<Brutus> Just a theory, I see your point to e

<NihabaAshi> Exited Remainder ER2 Long @ 849.40 --> - 1.6

Shorts ER2 @ 849.00 -> large size

<eminitrader> see what i meant B

<Brutus> ic 13:21

<eminitrader> nq holding solid supp @ 13:22

k just broke thru

<NihabaAshi> Covered 1/2 ER2 Short @ 847.20 --> + 1.8 13:23

<Brutus> Long ES @ 1531 «« paper »»

exit stop set ES @ 1530.75 «« paper »» 13:24

Stop at BE 1 contract will hold till EOD 13:35

<NihabaAshi> Covered Remainder ER2 Short @ 848.60 --> + 0.4 13:36

<Brutus> not looking good... 13:44

Exited ES Long @ 1531 --> 0 «« paper »» 13:45

<NihabaAshi> Shorts ER2 @ 846.10 -> small size 13:46

<Brutus> I was actually thinking of a reverse at 1531 :) 13:47

<NihabaAshi> Covered all ER2 Short @ 845.90 --> + 0.2 13:48

<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) 13:49

<Awash> blast thru support 13:52

<venedom> is berni taking? 14:02

<Awash> done

<venedom> fast mkt 14:09

<Awash> definitely some stops being triggered below 1530 14:10

* sep34_away is now known as sep34 14:17

<Awash> here comes the pullback 14:19

<venedom> Shorts ER2 @ 847.80 14:21

<Awash> sell limit to enter short ES @ 1530.50

<venedom> Shorts ER2 @ 847.40 -> Add 14:22

Covered 1/3 ER2 Short @ 846.8 --> + 0.6 14:27

Covered 1/3 ER2 Short @ 846.40 --> + 1.4 14:29

Covered Remainder ER2 Short @ 846.10 --> + 1.7 14:32

<Awash> Shorts ES @ 1528

<venedom> Shorts ER2 @ 847.20 14:35

Shorts ER2 @ 847.50 -> Add 14:43

<NihabaAshi> Long ER2 @ 847.50 -> small size 14:44

1 contract only

tricky price action here with the declining volatility. 14:45

Long ER2 @ 847.10 -> Add

<Brutus> 07/10/2007 13:58 *DJ Bernanke: Short-Term Rates Bad Tool To Address Asset Bubbles 14:47

<NihabaAshi> Exited all ER2 Long @ 846.00 --> - 2.6 14:48

<Brutus> Someone in the Euro/US Fx must have received the notes

<NihabaAshi> Shorts ER2 @ 845.40 -> medium size 14:49

<venedom> Covered all ER2 Short @ 845.50 --> + 3.7 14:51

<Awash> exit stop lowered ES @ 1527.75 14:52

<NihabaAshi> Shorts ER2 @ 845.70 -> Add 14:56

<Awash> Trailing Stop Hit ES @ 1527.75 --> + 0.25

<NihabaAshi> I still think ER2 needs to drop back to its intraday lows to find a decent s/r zone if it wants to attempt a strong counter-thrust back upwards. 14:59

<szubaark> Same with ES

<Brutus> 10 year ends at 5.038 15:00

<NihabaAshi> Price action changing... 15:02

Volatility dropping and trying to find support.

Covered ER2 Short @ 845.50 --> + 0.1 15:05

That's a +0.2and not a +0.1

Still holding original short @ 845.40 15:06

<venedom> Covered Remainder ER2 Short @ 844.40 --> + 2.8

<Awash> nice venedom 15:08

very nice

<Brutus> NEW YORK (Dow Jones)--Crude oil futures followed gasoline and heating oil prices higher Tuesday but failed to hold above $73 a barrel, where selling continues to appear. 15:12

<Awash> good night all

<NihabaAshi> It keeps getting within 2-3 ticks of my profit target :( 15:16

Covered Remainder ER2 Short @ 845.00 --> + 0.4 15:17

<ItalianSharp> we might have seen the bottom for today 15:18

<venedom> ty all after a nice day I quit have a nice evening c u tomorrow 15:23

<ItalianSharp> wow, guess they are not done selling just yet 15:31

at 3.30pm you would expect some short covering...it aint gonna happen now

<NihabaAshi> Shorts ER2 @ 844.60 -> small size 15:32

I'm looking for that same profit target I had in the prior Short. 15:33

I'll dump this if I don't get it soon. 15:34

<ItalianSharp> yeah, it looks like they tested this bottom and it's holding for now 15:35

<NihabaAshi> Need to be careful about those bargain hunting Longs.

<ItalianSharp> "burgain hunting longs"...love this definition, it really hits the pt 15:36

looks like there's plenty of them 15:37

<NihabaAshi> Covered all ER2 Short @ 844.50 --> + 0.1 15:38

Didn't get what I wanted out of my last few trades but I did get my profit target for the trading day. 15:39

:( 15:40

Not being in that Short still when it dropped is my fault. 15:41

I put a time restriction on my trade due to being impatient.

<ItalianSharp> wow, mkts gonna close at the lows...very bearish 15:42

still 30mins to go...anything can happen though

<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) 15:55

* sep34 is now known as sep34away 16:34

WRB Analysis

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<Brutus> Exited ES Long @ 1532 --> + 1 «« testing »» 16:49

Reverse and Enter Short ES @ 1532 «« testing »»

Long ES @ 1532 «« testing »» 16:51

Exited ES Long @ 1532 --> 0 «« testing »»

Reverse and Enter Short ES @ 1532 «« testing »»

Long ES @ 1533 «« testing »» 16:56

Covered ES Short @ 1534 --> - 1 «« testing »»

Reverse and Enter Long ES @ 1534 «« testing »»

* DisconnectedSession Close: Tue Jul 10 17:32:11 2007 17:32

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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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