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#FuturesTrades July 12th Thursday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+5.00	+84.20	+1772.70
$500	$8,420	$177,270

click on image to view actual size

Current Performance Record

July 13th Fri 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.

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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 12 09:25:53 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:25

<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) 09:28

<ripsboy> gm all... 09:29

<base> gm all

<PapaJon> gm all 09:32

<NihabaAshi> Long ER2 @ 851.70 -> small size

Exited all ER2 Long @ 851.90 --> + 0.2 09:35

:(

Long ER2 @ 855.10 -> small size 09:48

<Awash> non-stop buying this morning 09:49

<RONDOE> good-morin -all

<NihabaAshi> I had some data problems and couldn't re-enter after the first Long trade I took :)

It's going to be one of those mornings :( 09:50

<base> There is S2 at 855.60

<eminitrader> Shorts ES @ 1540 09:53

quick scalp

<Awash> non-existent pullbacks so far 09:55

<NihabaAshi> Exited all ER2 Long @ 855.30 --> + 0.2 09:56

Be right back...need to do a reboot :(

Trading Edge:
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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)

<base> Excuse me, it is R2 level not S2, of course.

NihabaAshi: Good luck. 09:57

<eminitrader> shld see some res here

* DisconnectedSession Close: Thu Jul 12 10:00:36 2007 10:00

Session Start: Thu Jul 12 10:08:22 2007Session Ident: #futurestrades

* Now talking in #futurestrades 10:08

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm

<eminitrader> ES holding up very well..looks strong 10:11

<pat255> yes em ..man it takes guts to S this move up .. 10:12

<eminitrader> 5 lot and now stop 4 ticks...not too bad pat

<jperl> ER@ @ VWAP 853.85 10:13

<eminitrader> 39-41 ..res area..shld see some pullback...but its holding up

looks like it will prolly blast thru this take out stops 10:14

<NihabaAshi> Shorts ER2 @ 854.00 -> small size 10:15

<base> I am short since 16:09 at 854.00. (paper) 10:17

<NihabaAshi> Shorts ER2 @ 854.20 -> Add 10:19

<eminitrader> looks like ym failed on retest

<Awash> consolidation starting to form since HOD 10:21

<jperl> market waiting for 10:30 EIA Natural Gas Report

<eminitrader> Covered 1/3 ES Short @ 1539 --> + 1 10:22

<NihabaAshi> Covered 1/2 ER2 Short @ 853.50 --> + 0.7 10:23

<base> Covered ER2 Short @ 583.30 --> + 0.7 (paper)

Correction: 853.30 10:25

<wizardofrijnsaterwou> -) 10:26

<base> It could be good short, if closed at 583.30 :) 10:27

<eminitrader> missed t2 by 1 tick and also a reversal :((

shld test that area again ..hope fully will gat a fill 10:28

<jperl> ER2 price action on the short side of the VWAP 10:30

<eminitrader> Covered ES Short @ 1540 --> 0

Reverse and Enter Long ES @ 1540

<NihabaAshi> Covered Remainder ER2 Short @ 853.90 --> + 0.1

Shorts ER2 @ 854.10 -> small size 10:32

<eminitrader> chased it by abt 2 pts......but looks good

<ItalianSharp> bush is speaking now

Iraq war report 10:33

<NihabaAshi> Thanks Italian...didn't know he was on TV. 10:35

I hate being in a trade when Bush is speaking.

<jperl> Short everything when he speaks

<eminitrader> :)) 10:36

<NihabaAshi> Covered all ER2 Short @ 853.90 --> + 0.2

Will stay on the sidelines until President Bush is done talking.

<eminitrader> Exited all ES Long @ 1540 --> 0 10:37

<NihabaAshi> That guy has caused me more losses while in a trade than anything else :(

<Awash> Long ES @ 1540

<eminitrader> hehehe

<jperl> how can that be.....

<NihabaAshi> By the way, he likes to do his speeches when there's a key energy report release.

<jperl> every time he opens his mouth, the market drops like now

<eminitrader> NQ is a drag on the mrkt so far

<NihabaAshi> Always odd with the timing of his speeches when they occur during market hours. 10:38

<ItalianSharp> yeah, he's the all-time markets jinxer

<eminitrader> es ym held long enough to try the followthru but nq failed for now

<base> exactly

<ItalianSharp> niha, i am sure bush gives clear instructions to his broker to short the market as soon as opens his mouth

<eminitrader> nq near lows ...ym es near highs :) 10:39

looks like they r wait to decide on the leader today... 10:40

<jperl> ER2 VWAP now equals PVP 853.80....

I stop trading when that happens

<ItalianSharp> yeah...I am sitting on the sidelines until NQ makes a clear move

<eminitrader> u read my mind IS

<ItalianSharp> right now, NQ is in a limbo

:) 10:41

<base> :) ER2 as well 10:47

<Awash> ES starting to advance higher 10:52

watching 1542.50 area 7-9 gap close

<jperl> ER2 VWAP still sitting on PVP 10:53

expect more oscillations

<Awash> Exited 1/2 ES Long @ 1542.25 --> + 2.25 10:54

<jperl> trades this morning.... 10:55

http://charts.dacharts.com/2007-07-12/JP ERL_018.jpg

<Awash> exit stop raised ES @ 1540.25

<eminitrader> thats riggt in the supp area A 10:58

39-50-41

<Awash> E, my stop is right in support area? 10:59

<eminitrader> as per my read ...looking for an entry in this area

<Awash> k 11:00

<eminitrader> but dont let that change ur plan ...can always re-enter u know

<Awash> yes

<eminitrader> for all we know mrkt may not even get there

<Awash> exactly, so far trend is still advancing 11:01

you were just long there, can I ask what made you exit?

<eminitrader> no follow thru on the NQ ....and right in the res area....

<base> Is Bush done yet?

<Awash> base, he's still trying to make his point about the war 11:02

<eminitrader> but that sometimes leads to what we call creepy uptrend

<Awash> yep

<base> Awash: Thanks :)

<jperl> ER2 peak volume now 854.50, VWAP 853.79 11:03

<eminitrader> Long ES @ 1541 11:05

Exited 1/2 ES Long @ 1542.25 --> + 1.25 11:17

<szubaark> slow, controlled upcreep 11:20

<ItalianSharp> szu, i've been missing your "slow controlled upcreep" definition...it's been a while since you typed that...:) 11:21

<eminitrader> looks like it szu

be back ...stop @ b/e 11:23

exit stop moved to breakeven ES @ 1541 11:24

<NihabaAshi> Long ER2 @ 854.00 -> small size 11:30

<Brutus> Dax up 2% went parabolic into the close

<PapaJon> bush just finished

<NihabaAshi> Exited 1/3 ER2 Long @ 855.20 --> + 1.2 11:33

<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) 11:34

<Awash> Exited all ES Long @ 1543.50 --> + 3.5 11:35

<ItalianSharp> YM hit all-time highs by 1 tick

<jperl> Russell not following 11:36

interesting

<asuni12> 27 high 11:37

<eminitrader> Exited Remainder ES Long @ 1541 --> 0 11:38

:((

late post

<Awash> trend still bullish, one 50% Pullback early on, remaining pullbacks are tight, breakouts are strong confirmed by solid volume 11:44

<ItalianSharp> today looks like a typical november day 11:51

no overanalysis, just buy every dip and collect the cash 11:52

<pdays> Shorts ER2 @ 854.8 11:53

<NihabaAshi> Exited Remainder ER2 Long @ 854.40 --> + 0.4

<pdays> Covered all ER2 Short @ 854.2 --> + 0.6 11:56

<jperl> ER2 StdDEv a mere 10 ticks for the day.... 12:33

tough to trade that....good for scalpers

<eminitrader> see u later guys..in a couple of hrs ...have a doc appiontment 12:39

<ItalianSharp> good luck emini 12:42

By the way, today we have treasury budget at 2pm...last time this report produced some decent volatility

<RussellDaytrade> yeah, good luck, and remember, you are no longer young enuf to be given the 'turn your head left and couch' checkup...unless of course its a lady doc 12:43

<NihabaAshi> Long ER2 @ 856.00 -> small size 12:50

Exited all ER2 Long @ 856.50 --> + 0.5 12:53

Shorts ER2 @ 857.10 -> small size 13:34

:( 13:36

<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) 13:37

<NihabaAshi> I just saw my error in this trade...looking to dump it.

Covered ER2 Short @ 857.30 --> - 0.2 13:40

Reverse and Enter Long ER2 @ 857.30

Long ER2 @ 857.50 -> Add

Looks like the volatility can't maintain itself :( 13:44

<szubaark> Looks exhausted

<NihabaAshi> szu...we know that's tough thing about these creeper uptrends... 13:45

They always look exhausted.

<szubaark> "look" is right. 13:46

<jperl> ER2 doing a slow creep up the 2nd StdDev of VWAP...

I hate this kind of market

<Awash> jperl, why?

<NihabaAshi> It's so sluggish even though its going up...

Can't do any decent size in the price movement. 13:47

<jperl> too many small oscillations

<szubaark> very tight 13:48

2pm TREASURY BUDGET COMING up 13:51

<ItalianSharp> i think the most difficult thing about creeping uptrends is that everyone talks about, everyone knows what they look like, but very few have the balls to play them the right way...in all honesty, creeping uptrends could be the easiest plays...just buy the dips and wait for a new high...as simple as that...when you are wrong, you'll know it

the tough part is that most of traders wait for a decent retracement ----> better prices to buy the dips...

this is why they are called creeping...they just never retrace

<szubaark> Italian, they play a lot of psychological mind games on you.. Plus creepers dont happen often so we forget about them 13:52

<jperl> Well they do retrace IS...it's just that the retraces are small

<ItalianSharp> exactly szu...but a couple of hrs ago you recognized the creeping slow controlled upmove and had you gotten long back then, by now you'd be nicely in teh green 13:53

jperl, correct

<szubaark> it took me a while to catch its a creeper, think Niha mentioned it first

<ItalianSharp> retracements are not enough to adventure into a long trade...basically, you have to deal with teh fact that you buy near the highs...that's the only way to catch them...unless you go long at the open with the bases loaded 13:54

CNBC isnt even mentioning Treasury Budget...WTF? 14:02

<NihabaAshi> Weird huh.

That usually is a big market mover.

Exited ER2 Long @ 856.20 --> - 1.1 14:03

Reverse and Enter Short ER2 @ 856.20

reversed into a large position 14:04

<ItalianSharp> [14:06:08] <iNews> 14:06ET BC-FEDERAL-BUDGET Federal Deficit Down, June Posts Surplus [ AP » http://w3t.org/u/43rc ] 14:06

<NihabaAshi> This volatility is very odd...has been all week :( 14:08

I think I'm officially going to say that the "summer trading" has begun that's typically this type of volatility we've seen all week. 14:09

ER2 looks only phased a "little bit" by the Treasury Budget report. 14:10

I'm looking to dump my position.

<pat255> later guys back to office ty all 14:12

<NihabaAshi> Covered all ER2 Short @ 855.90 --> + 1.9 14:14

Ooops 14:15

Covered all ER2 Short @ 856.90 --> - 0.7

I see the problem... 14:16

The script is giving the wrong math for 855.90

It's +0.3 and not +1.9

Shorts ER2 @ 855.40 -> small size 14:17

<RussellDaytrade> the hot-air balloon was overly gassed up this am, and rose rapidly and to the upper stratoshere, when the tethers were cut...now experiencing a case of vertigo, afraid to look down, it's such a long way 14:18

<NihabaAshi> increased my size on the short in the creeper uptrend from 1 contract to 2 contracts.

Still feels like I'm counter-trend trading on the Shorts. 14:19

Looking to add to make this a large position 14:20

<Awash> Long ES @ 1544.75 14:21

<NihabaAshi> Shorts ER2 @ 855.50 -> Add

oh oh... 14:24

ER2 volatility dropping fast. 14:25

I'm expecting a volatility spike here soon

Shorts ER2 @ 856.00 -> Add 14:27

large size now

Volatility dropping again. 14:33

If this starts to move again against me...I won't let it hit my stop. 14:34

<Awash> Exited 1/4 ES Long @ 1546.75 --> + 2

<NihabaAshi> Covered 1/3 ER2 Short @ 856.30 --> - 0.3 14:41

Covered 1/3 ER2 Short @ 856.40 --> - 1 14:42

Covered 1/3 ER2 Short @ 856.60 --> - 1.2

That knocks me down to +19 ticks for the day :( 14:43

Volatility declining again... 14:47

A good volatility spike still hasn't shown its face this afternoon.

<Awash> Exited 1/4 ES Long @ 1547.75 --> + 3 14:48

<NihabaAshi> Long ER2 @ 856.30 -> small size 14:49

2 contracts only

Can't really afford to put on size again because if I'm wrong...

Not much time remaining in the trading day to recover from. 14:50

Volatility dropping again 14:51

trailing stop raised ~ 14:53

Exited all ER2 Long @ 856.50 --> + 0.2 14:54

Got pick pocketed because I think there's still more upside to this price movment :( 14:55

<Awash> Exited 1/4 ES Long @ 1548.75 --> + 4

<NihabaAshi> Long ER2 @ 856.80 -> small size 14:56

<Brutus> Very nice trade A

<NihabaAshi> 2 contracts only

<Awash> thanks, had to wait 3 hours for a pullback 14:57

eyes are burned from watching the chart

holding 1 more 14:58

<NihabaAshi> Exited all ER2 Long @ 857.20 --> + 0.4 14:59

wanted 3 ticks but got 4 ticks 15:00

<werner> gn all 15:01

<Fleneer> Who's short? 15:15

<Awash> Exited all ES Long @ 1550.50 --> + 5.75

<RussellDaytrade> I am

<Awash> done for today

<Fleneer> me too. Wanting to short but this is a monster. 15:16

best put down the mouse and step away from the keyboard. 15:17

<RussellDaytrade> put yer hands up and step away fron the keyboard

<Fleneer> modest gain for today and would rather quit early than risk it. 15:18

<ItalianSharp> [15:16:01] <RussellDaytrade> I am 15:28

[15:16:04] <Awash> done for today

this was funny...reading the 2 messages together it looked like RD and Awash were trying to make a sentence together

<RussellDaytrade> look at his thing still gathering steam, wow 15:29

<Awash> :) 15:30

<RussellDaytrade> shall we make a sentence together A? Let me begin ... I am 15:31

<ItalianSharp> lol

<RussellDaytrade> adding

to 15:32

the

<Awash> ....I am proud of my trading after yesterday's

<RussellDaytrade> short position

<ItalianSharp> wow, YM might be making a run to 14000 by day end at this pace

<Awash> taking off for the day 15:34

good night all

<RussellDaytrade> fkem, fading 860

trend days still challenging for me, I do much better rangebounders 15:35

<Fleneer> Had a Columbus moment. +0.50 jumpped on the mmoving train long 53.75 for 54.25 15:36

1555 monster still breathing. 15:37

<ItalianSharp> I sure as hell wont short this thing as long as it keeps making new record highs

<Fleneer> just want to scalp a little payday. 15:38

<NihabaAshi> Long ER2 @ 860.20 -> small size 15:39

WRB Analysis

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<ItalianSharp> today must have been one of the biggest gainers in a long while 15:41

dow up over 250 pts

[15:32:36] <ItalianSharp> wow, YM might be making a run to 14000 by day end at this pace 15:42

i am starting to believe my statement has a chance to become real, although i was joking 15:43

<NihabaAshi> Exited all ER2 Long @ 860.60 --> + 0.4 15:44

Long ER2 @ 859.90 -> small size 15:57

1 contract only

Exited ER2 Long @ 861.00 --> + 1.1 15:59

Not much for profits today considering I couldn't do size earlier in the trading day when I had the data problems. 16:00

<RussellDaytrade> welcome tp parabolimania'sville

<NihabaAshi> Yet, another profitable day :)

Glad my last trade was able to catch a WRB pt1 level.

Thus, ended my trading day the way I like to end them. 16:01

<RussellDaytrade> that last late day drop made me pft again in one account, and just as importantly, I read it correctly 16:19

* sep34_ is now known as sep34_away 16:22

<NihabaAshi> Take care all and see all tomorrow. 16:25

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Thu Jul 12 16:27:58 2007 16:27

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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.