July 14th Friday 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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+15.70 +0.0000
$1,570.00 $0.00

Adapting to Market Change

Losing traders aren't able to adapt or are unwilling to adapt. In fact, I've met more traders that quit trading because they refuse to accept a change in the market.

A close trading pal and I discover an edge last fall involving the volatility of ER2 and the Phil Oil Service Sector Index (OSX.X).

However, about a week ago the PHLX Exchange changed how they gave the data to data providers. The change caused some data providers to stop offering the data to their clients while others are currently not allowing any access to the data until they update their data feeds.

I tell my buddy to just use the Exchange Traded Funds OIH and XLE.

His response was a flat refusal and he said he will just wait until his data provider makes the appropriate changes (sometime this fall).

In the meantime my profit level has not changed while his win:loss ratio has gone from 82% winners to 54% winners...overall he's losing money.

If your reading the above...there's a clear message.

Leave your ego and its partner called stubborn at the door, change when the market changes so that you can avoid any drawdown periods and be still trading profitably while most don't last beyond a few years due to refusal to adapt.

With that said...how many of you are trading instruments that loss something important to your profit level (ability to trend, volatility etc)...

What's preventing you from trading a different trading instrument that's suitable for your trading plan???

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)  

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.


Session Start: Fri Jul 14 09:30:38 2006Session Ident: #futurestrades
* Now talking in #futurestrades09:30
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<Awash> morning all09:31
<szubaark> gm
<pat255> gm all
<eminitrader> morn A szu pat09:32
<Awash> morning
<pat255> gm emini awash
<eminitrader> todays big Q is where do we short

anyone on this view09:33
<NihabaAshi>  Shorts ER2 @ 688.90 -> large size
<szubaark> gm emini,pat,awash
<eminitrader> that was fast niha :))
<les>  Shorts ER2 @ 688.5 paper 09:35
<NihabaAshi> :)
won't feel comfortable about the trade until it reaches a 688.00
If not...will reverse quickly.09:36
<les>  Covered 2/3 ER2 Short @ 688 --> + 0.5 paper

exit stop moved to breakeven ER2 @ 688.5 paper 09:37

Trailing Stop Hit ER2 @ 688.5 --> 0 paper
<NihabaAshi>  Covered 1/3 ER2 Short @ 686.90 --> + 2 09:39
<cmr> Keep ER2 Short since 706.5 -> 687 = 19.5 points. No need to scalp. Just Short and keep09:40
<eminitrader> nice cmr09:41
<szubaark> Nice Short Niha
<NihabaAshi> If Oil can reverse and head back down...
<eminitrader> good start niha
<NihabaAshi> I may get lucky and get another 2 points out of this trade if it picks up momentum.
<cmr> emini: As I said yestarday: Short ES and keep ...
<eminitrader> cnbc talking abt oil dropping to 80 :)09:42
where to short cmr ?
<NihabaAshi> Don't forget...we have a key economic report release at 0945am est.09:44
<szubaark>  Long NQ @ 1487
<eminitrader> and 10
<NihabaAshi> Then another one at 10am est.
Tightning up my trailing stop.09:45
<eminitrader>  Long ES @ 1248
<szubaark>  exit stop moved to breakeven NQ @ 1487
Exited all NQ Long @ 1487 --> 0 09:46
<eminitrader> will hold it for the report
<szubaark> emini report came out already
<eminitrader> it did09:47
<szubaark> 9:45 Eastern Consumer Sentiment
<cmr> I would Short ES @1250 if it hits that price again
<NihabaAshi> Oil ETFs are reversing and looks like they want to attempt at filling in its GAP from yesterday's close.09:48
<eminitrader> thx cmr
<pdays>  Shorts ER2 @ 686.4 paper
<szubaark>  Long NQ @ 1487 09:50

Exited all NQ Long @ 1485 --> - 2 09:51
<eminitrader>  Exited ES Long @ 1246.50 --> - 1.5
Reverse and Enter Short ES @ 1246.50
<szubaark>  Shorts NQ @ 1485
<pdays>  Covered all ER2 Short @ 685.4 --> + 1 paper
<NihabaAshi> EuroFX declining nicely.09:52
<eminitrader>  Shorts ES @ 1246.50 -> Add 09:53
<cmr> jperl, how are you doing with ER ?

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<NihabaAshi>  Covered 1/3 ER2 Short @ 685.90 --> + 3
<eminitrader> nice
<jperl> very well tx
3 shorts so far09:54
<szubaark>  Covered all NQ Short @ 1482.75 --> + 2.25
<eminitrader>  Covered 1/3 ES Short @ 1245 --> + 1.5 09:55
<cmr> Just made a Short yestarday on the close, 7 points until now...
<eminitrader> now in profit mode
<cmr> IMHO, today we will have another 2% down day09:56
<eminitrader>  Covered Remainder ES Short @ 1246 --> + 0.5 09:58
will wait for a better entry
<jperl> i'll post results so far10:00

http://charts.dacharts.com/2006-07-14/JP ERL_012.png10:01
<szubaark> nice jperl10:02
<NihabaAshi> nice jp...10:03
<jperl> tx
<NihabaAshi> jperl, are you using a mechanical system ?
<eminitrader> way to go jp
<jperl> no
<NihabaAshi> Ok...thanks...just the vwap stuff ?10:04
<jperl> yes...pretty much plus some money management
<eminitrader>  Shorts ES @ 1247
<szubaark>  Shorts NQ @ 1485.25 10:05
<eminitrader>  Covered 1/3 ES Short @ 1246 --> + 1 10:06
Covered 1/3 ES Short @ 1245 --> + 2 10:07
Covered Remainder ES Short @ 1246.50 --> + 0.5 10:11
<NihabaAshi> ER2 just completed a WRB volatility Spike on the 2min chart.10:12

Covered Remainder ER2 Short @ 687.70 --> + 1.2
<Awash>  Long ES or YM @ 1247 paper 10:15
<eminitrader>  Shorts ES @ 1247 10:16

Covered all ES Short @ 1247.50 --> - 0.5
<szubaark>  Covered all NQ Short @ 1488.50 --> - 3.25 10:17
Long NQ @ 1488.50
hhmm.. Shorts not working10:18
<eminitrader> will go long only after es breaks 1253
<szubaark> emini thats that channel downtrendline?10:19
<eminitrader> i dont do the trend lines szu

but use pa with a confirming indicator10:20

if it breaks 1253 then i enter on a pull back untill the 1258 - 1269 area ..good risk/reward10:21

oops 1258 - 1260
<szubaark> smart.
<eminitrader> well thats with all the ifs :)10:22
<Awash>  exit stop set ES or YM @ 1247 paper 10:23
<eminitrader>  Shorts ES @ 1248.25 10:24
<szubaark> emini, you bear :)10:25
<eminitrader> like i said till it breaks the 1253 area
<NihabaAshi> ETFs OIH just closed its GAP and XLE looks like it has a ways to go.
<Awash>  Trailing Stop Hit ES or YM @ 1247 --> 0 paper
<eminitrader>  Covered 1/3 ES Short @ 1246.75 --> + 1.5 10:26
<jperl> ER2 crosses VWAP 687.2010:27
<eminitrader>  Covered 1/3 ES Short @ 1247.25 --> + 1 10:29
<szubaark>  Exited all NQ Long @ 1483.75 --> - 4.75 10:34

Shorts NQ @ 1483.75
<eminitrader>  Covered Remainder ES Short @ 1248.25 --> 0 10:37
<les>  Long ER2 @ 687.7 paper 10:38
<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)10:40
<Awash>  Shorts ES or YM @ 1247.50 paper
<eminitrader> tough price area to trade10:41
<Awash>  Covered all ES or YM Short @ 1490 --> - 242.5 paper 10:43
<eminitrader> wow
<Awash>  Covered all ES or YM Short @ 1249 --> - 1.5 paper
<eminitrader> :)10:44
<jimmy>  Shorts DAX @ 5488 10:53
<NihabaAshi>  Shorts ER2 @ 686.40 -> small size 10:55
1 contract only
<jimmy>  Covered all DAX Short @ 5478 --> + 10
<NihabaAshi>  Covered ER2 Short @ 686.10 --> + 0.3 10:58
<pat255> vn niha ..10:59

not trading @office dial up connection..:(11:00
<NihabaAshi> I entered an interval that became a WRB at 686.10.
Not much profit potential there after my entry :(
Pattern Signal was way above at 688.00
Wasn't around to trade it :(
<szubaark> WRB as in Dark WRB?11:02
<NihabaAshi>  Shorts ER2 @ 684.30 -> small size
2 contracts only
No pattern signal...just jumping on the wagon sort'uv speak.
<szubaark> hehe Niha.11:03

Volatility is there so u jump on
<NihabaAshi> ER2 can reverse fast in situations like this...will be ready to reverse my position if needed.
Covered 1/2 ER2 Short @ 683.00 --> + 1.3 11:04
szu...yes...a Dark WRB.
<szubaark> ok.11:05
<pat255> niha on a roll
<NihabaAshi> [11:03] <szubaark> Volatility is there so u jump on

Yes...WRB Volatility Spikes are the best ones for such types of high risk trading (jumping on the band wagon).11:06

Other WRBs without the volatility are more risky.

Covered Remainder ER2 Short @ 684.00 --> + 0.3 11:09

Shorts ER2 @ 682.40 -> small size 11:16

1 contract only
<eminitrader>  Long ES @ 1239.75 11:17
<NihabaAshi>  Covered ER2 Short @ 681.00 --> + 1.4 11:19
<aym> Buy er2 @ 681 risk2
<szubaark>  Covered all NQ Short @ 1474.75 --> + 9
<eminitrader> nice szu :))11:20
<cmr> emini: Short on Open and cover at Close, just simple as that...
<szubaark> thanks.. going with the trend helps make up for my screw ups
<NihabaAshi> I'm done for the day...been intuition trading all week except for the first trade today, one yesterday that resulted in a big profit and one more trade the prior day...everything else has been intuition trading with a lot of feedback from other key markets like Oil and Gold.11:21
<eminitrader> yep
Exited 1/3 ES Long @ 1240.75 --> + 1
u rock cmr
<NihabaAshi> cmr...nice...do you consider that a day trade (not as in scalping) or a "position trade"???11:22
<eminitrader> unfortunately i dont have the pateince for such long holds
Trading Edge: 


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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) 
<NihabaAshi> I ask because there's a recent active thread at EliteTrader.com where some traders are swing traders but calling it "position trading".11:24
<aym> Exit er2 @ 682
<eminitrader> niha , if ur trades r based on other indicators as u mention why do u consider it intuition trades.is it not that the overall mrkts are aligned in a trend11:25
<NihabaAshi> I consider it "intution trading" because I don't have a written plan for such...
I'm just going with the flow :)
<eminitrader> k u mean entries in ur particular instrument11:26
<NihabaAshi> Any trades by the book (my written plan) I don't consider it intuition trading.
<eminitrader> although the trend is clear

k got you
<NihabaAshi> Yes...when I trade ER2 via intution...I get my clues about its price action from other trading instruments.11:27
<eminitrader> k thats what i thought

Exited Remainder ES Long @ 1239.75 --> 0 11:28
<NihabaAshi> I use to have four edges in trading ER2 via intuiton (EuroFX, Oil, Gold and the DAX)
<eminitrader> late post
<NihabaAshi> The edge via EuroFX is no longer good.
<eminitrader> do u replace that or just ignore it11:29
<NihabaAshi> I just ignore it because Oil, Gold and DAX have been working extremely well for my intuition trading of ER2.11:30
Three edges keeps me busy :)
<eminitrader> sure :)
<cmr2> It's a normal day, coming soon to 2% down ...11:31
<jimmy>  buy stop to enter long DAX @ 5441 11:33
<eminitrader>  Long ES @ 1235 11:34
playing off weekly support indicator11:35
<PapaJon> cmr2... you mention 2% down as "normal day" .. is it your opinion that er2 will only move approx 2% (max).. typically??
<cmr2> Short ES 1236, Short YM 10760, Short NQ 147011:36
PapaJon: I believe markets are in a deep downtrend. Until I see a day with more than 1% up, I'll keep shorting all
<eminitrader>  Exited 1/2 ES Long @ 1237 --> + 2 11:38
<PapaJon> ic... thnx
<eminitrader> :))11:39

Exited 1/3 ES Long @ 1238.50 --> + 3.5 11:44
<szubaark> good one emini.11:45
<eminitrader> holding 1 more expecting 1241

thx szu ..thinking of that trade it was based on a weekly support ..wrong play unless i was willing to hold for a week11:46

making it worse was doing a large size on a counter trend11:47
<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)11:52
<Awash>  Shorts ES or YM @ 10780 paper 11:56
<codehead> i'm consumed with broker being down, but looks like a bounce due11:58
<Awash>  Covered all ES or YM Short @ 10795 --> - 15 paper 11:59
<eminitrader>  Exited Remainder ES Long @ 1240 --> + 5 12:00
dont want to be greedy on a ct
<szubaark> emini im looking to Short soon12:02
<eminitrader> so am i szu
on nq i would be short @ 7512:03
adding upto 82 with a stop @ 85
now thats as per my charts12:04
tthats 77 not 7512:06
Shorts ES @ 1240 12:09
<szubaark>  Shorts NQ @ 1475 12:10
<eminitrader>  Covered 1/2 ES Short @ 1238.50 --> + 1.5 12:12
take a quick scalp and will look to renter at the 41.50 - 43 area12:13
<szubaark> yeah i cant cover half with 1 contract.. but then i like my losses on 1..12:14
<eminitrader> works both ways eh :)
Covered Remainder ES Short @ 1239 --> + 1 12:18
<codehead> dow hit the June low (where it bounced a long dive hard)12:21

naz nearly the October low12:22
<Awash>  Shorts ES or YM @ 1239.50 paper 12:24
<szubaark>  Covered all NQ Short @ 1475.25 --> - 0.25 12:35

Long NQ @ 1475.50
<codehead> finally, amtd up12:37
oops wrong room--ameritrade been down
<eminitrader>  Shorts ES @ 1240.50 12:41
<szubaark> emini im thinking this is where they start whacking Shorts
<Awash>  Covered all ES or YM Short @ 1241.25 --> - 1.75 paper 12:42
<eminitrader> nice area to short NQ12:43
<codehead> having probs with futs account, but bought a little QQQQ 3612:44
<eminitrader>  Shorts ES @ 1242 -> Add
Shorts ES @ 1243.25 -> Add 12:49
<szubaark>  Exited all NQ Long @ 1480 --> + 4.5
<eminitrader> nice szu
<szubaark> thanks.. might go higher..12:50
<Awash> nice Szu
<szubaark> emini i see u loading up the boat
<eminitrader> doubt it both nq and es @ res
6 sort now
sort = short
this is going to be the highest pullback of todays move12:51
<szubaark> its at 50% now right?12:52

(i dont look at retracements)
<eminitrader> no at around 60
<szubaark> i mean i see them but dont put too much emphasis on them.12:53
<eminitrader> in confluence with my indicator
retracements r good if used correctly szu ..took me a long time to figure out calculating the swing highs and lows12:54
not the math part but the flow part
<szubaark> yes..u need some good indicator to time them for entries12:55
<eminitrader> exactly
and the other thing is working fibs on a swing within a swing scenario ..makes u go crazy12:56



Mentally getting away from trading is much harder to do in comparison to physically getting away from trading when its time for some rest and relaxation. Personally, one of my favorite ways to mentally rest is to watch movies I've copy & recorded from the local video store via my Slysoft software that copies any copyright protected dvd's and cd's.
   Slysoft - Copy and DVD or CD
<szubaark> that fibs stuff is too much math.. i have problems adding 2+2 :)12:57
<eminitrader> :)
exit stop set ES @ 1245.25 12:58
now the wait ..get stopped out or take home some green :)
avg entry 1 @ 40.50 2 @ 42 and 3 @ 43.2513:01
Covered 1/3 ES Short @ 1240.50 --> + 2.75 13:03
thats 1 @ b/e
holding 5 with a profit as of now
<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)13:04
<eminitrader>  Covered 1/3 ES Short @ 1240 --> + 0.5 13:05
thats 2 from 42 entry plus 2
holding 313:06
from 43.25
exit 1 @ 1239,25 plus4 holding 2 more13:10
exit stop moved to breakeven ES @ 1243.25
<codehead> long YM 10780 <paper>13:14

hm, that zlr might not go13:15

opn 3 min, and hesitating too long

exit half Ym +19 <paper>13:24
<szubaark> nice code
<codehead> raised stop b/e on reminader
<eminitrader>  Shorts ES @ 1242.25 -> Add 13:25
1 only
<codehead> wish i wasn't having so many problems with brokers today
<szubaark>  Shorts NQ @ 1476.50
<eminitrader>  Covered Remainder ES Short @ 1243.25 --> - 3.75 13:28
<Awash>  Shorts ES or YM @ 1242.25 paper 13:29
<eminitrader> b/e on 2 and 1 pt loss on 1
<szubaark> im gonna hold mine a little longer
<eminitrader>  Shorts ES @ 1243 13:30

agree szu

exit stop set ES @ 1244.25 13:31
<szubaark> This Price Action looks like end of week positioning13:35
shoudnt be trading this crap13:36
Covered all NQ Short @ 1479.75 --> - 3.25 13:38
Long NQ @ 1479.75
frikin Short covering coming up13:39
<Awash>  Covered all ES or YM Short @ 1244.25 --> - 2 paper
<eminitrader>  Covered all ES Short @ 1244.25 --> - 1.25
<codehead> exit remainder YM +30 <paper> to take it off radar, but if dow can push thru here, might get a real nice pop13:40
<szubaark> thats what im thinking code.. short start covering
<eminitrader>  Shorts ES @ 1243.50 13:41
<NihabaAshi>  #FuturesTrades Purpose -> No gurus here, no signal calling by a head trader and no intentions to educate. This room is being used by you as a realtime trade journal of trades (real money or simulator) and discussions are for you 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/FuturesTra desChatRoom.htm
<eminitrader> last one for the day and week

not much buying seeing selling pressure
<szubaark> my last trade also..
<eminitrader> mrkt should crash13:42


think it just took out earlier shorts13:43

Covered 1/2 ES Short @ 1241.50 --> + 2 13:44
<Awash> selling pressure coming back to market with volume
<szubaark> any sell attempt is Bought13:45
<Awash> what contract?
<eminitrader> pop is on low volume ..so unless it picks momemtum still a bear
<Awash> ES just had climatic volume
<eminitrader> ;013:46


exit stop set ES @ 1244.50 13:47
<codehead> despite naz being killed, trinq decent
<Awash>  Shorts ES or YM @ 1242 paper 13:48
<eminitrader> NQ tested 50% to the tick ..doubt if it will test it again today ..but u never know13:49
<Awash> thi will be last trade

this will be last trade13:51
<szubaark> weird price action.. could go either way13:54
<eminitrader> yep ..13:55
<szubaark> I need Woodies "Chop Zone" Indicator LOOOOL
<eminitrader>  Shorts ES @ 1243.25 -> Add

wonder if cmr2 is covering .. u still holding bud13:57
<szubaark>  Exited all NQ Long @ 1476 --> - 3.75
Shorts NQ @ 1476 13:58
<eminitrader> nice szu ..way to go
<szubaark> paying price in this chop.. just gave all profits back for day :((
<eminitrader> oops that was a loss ?
<szubaark> yes
<eminitrader> never saw the minus ..mot to worry szu u 'll make up13:59
<szubaark> emini got bunch of commissions to cover now also. all that crap adds up
<eminitrader> 1481 was the exact 50% retracement szu
<Awash> ES needs to go below 41
finally got a lower high14:00
<eminitrader> not to worry szu mrkt will give u some

should drop hard
<szubaark> yeah i usually have to give 1-2 Stops due to my Impatience before i catch the big move. gotta IMPROVE on that.14:01
<eminitrader>  Covered 1/2 ES Short @ 1240.25 --> + 3
<Awash> nice14:02
<eminitrader> holding 2 from 43.50

thx A
<szubaark> emini trading awesome all this week.
<eminitrader> thx szu ..making uo for the first 10 days..

of july
<Awash>  Covered all ES or YM Short @ 1239.75 --> + 2.25 paper 14:04
<eminitrader> there ur :))
<Awash> my first win

Think Geek


I don't always trade nor monitor the market from my home office. Sometimes I'll do such from one of my favorite nearby Wi-Fi hotspot or whenever I'm traveling via using this little Wi-Fi detection gadget I got from Think Geek that will show more than just the presence of any nearby signal and its signal strength. It has a 12-character LCD that provides information on signal availability and strength as well as essential network information, including SSID, security status and channel. When multiple networks are present the LCD me to scroll through information for each network.


<eminitrader> good job A14:05
<Awash> thx
i needed that
<eminitrader> mrkt still holding ..wonder for how long ?14:07

only guess is we r oversold in the short term
<szubaark>  Covered all NQ Short @ 1473.25 --> + 2.75 14:09
Im DONE14:10
<eminitrader> u in the green for today szu
<szubaark> yes +$20 but Broker takes $55 so im Down -$35 LOL14:11
<eminitrader> k
<szubaark> was up over $100 but gave it all back with last 2 Stop outs in that Congestion Zone (STORY OF MY LIFE)14:12
Im small + for the week..so happy with that
<eminitrader> could probabily take a quick scalp @ 1478 area if it gets there

k then u might as well be done
* szubaark is now known as szubaark_away14:13
<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)
<PapaJon> szu.. dont feel bad.. these kind of conditions are very tough.14:14
my normal win rate is about 88%.. this week has been around 60%
thus.. these conditions are less favorable than normal with my particular strats.14:15
<eminitrader> thats excellent pj 88%
<PapaJon> thnx et.. but.. weeks this week.. certainly humble me
<eminitrader> know what u mean14:16
<PapaJon> :)
even my perfect signals.. with all my rules met.. end up losing more during this crapolla14:17
<eminitrader> my first target for july/aug is no losses. I'm not at all worried abt profits during these months..tight stops ..it works or not

brutal price action the last couple of hrs14:19
<PapaJon> hehe... agreee et
thinkin maybe i get a job at mcdonald's for july and august.. hehe
<eminitrader> lol

probably be better off..and free food too...14:20
<PapaJon> nah...
<Awash> eminiTrader, you wrote that you keep stops tight during these months
<eminitrader> then maybe burger king ..lol14:21
<PapaJon> that kinda free food will definitely not make you better off...
<eminitrader> yes A
<Awash> what do you do during the other months


Do you make it standard practice to exit 6-7 ticks on your first Profit Target14:22


and protect your position from there?

i'm experimenting with some rules for my trade management and just wanted to get your thoughts

i've let price move in my favor 6-7 ticks and still lose14:23
<eminitrader> tight stops in terms of risk mgmt..does not mean that if my normal stop is 3 pts i cut it down to 1 ..basically i lower my risk tolerance..by means of entry and or size
<Awash> as far as protecting your position, do you bring your stop to BE when price is in your favor?14:24
<eminitrader> yes ..remember re-entry is only a commission away :)14:25
<Awash> :)

that's something i've neglected to do

will adjust accordingly
<eminitrader> :)
<Awash> what about time after entry? Of course patience is virtue in this game but if price isn't following thru than what rules do you have in place to exit a position?14:26
<codehead> everything zlr down szu
<eminitrader> looks like a big drop coming


Covered 1/3 ES Short @ 1238.75 --> + 4.75 14:28

holding 1 more14:29

will hold this one till the close

exit stop moved to breakeven ES @ 1243.50
<codehead> long YM 10768 <paper>14:46
jumping the gun a little, ER pop influenced me14:48
potential htlb on cci, 5 min YM
green lsma, so not out of the question14:49
but if it turns down it's another sell signal of course
exit half YM +1014:50
3 min chart breaking hroizontal threndline on cci
<jperl> done for the day.....14:51

here are my executions.....

http://charts.dacharts.com/2006-07-14/JP ERL_013.png
<codehead> nice trade logging14:52
htlb triggered
set stop b/e -3 YM <paper> on remainder14:57
agressive trade, keep it a weiner14:58
raise stop on remained 10778 <paper>15:00
stopped +10 YM <paper>15:04
long YM 10784 <paper>15:05
stop was poorly placed
just above s2
<eminitrader>  Covered Remainder ES Short @ 1243.50 --> 0 15:06
<codehead> exit half YM +1015:07
stop on remainder 10774 <paper>
zlr up on ER15:13
it's looking the best
<jperl> have to go...se you all Monday15:19
<codehead> dow a little bullflag15:20
see if it can break out
maybe not on friday15:21
3 min patterns are a bit ghosty, eod dive not out of the question15:23
but they are still on the buy side at the moment
stopped -10 on remainder YM <paper>15:25
<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)
<codehead> long YM 10769 <paper>15:27
on no signal
oh yeah, QM doesn't reopen on friday15:28
exit half YM +5 <paper>15:32
exit remainder +1 <paper>15:33
+0 i meant
<cmr2> Nice rebound for shorts ...15:47
<Awash> you still short cmr2?15:50

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<cmr2> Awash: I keep my shorts overnight. Stop loss when market makes +1% Up - When ?16:04

You see, all the major indexes were down between .5% to 1%. That's the day gain, for sure, no scalps, no gambling. Monday it will drop again ...16:06
<Awash> cool
i'll definitely be prepared for what happens16:07
<cmr2> Even if it doesn't, for instance, ER2 I keep it shorted since 706.5 is trading @684 : 22.5 points in 2 days (I started end of 11th). Much easier then scalping all day long, when the markets are firmly deeping lower.16:09
<Awash> cool16:10
<cmr2> I just try to follow the intraday trades to make a comparison if would be profitable. No way, when markets are steady. Do u see any turnover last days? So follow the trend ...16:12
<Awash> k16:13
<NihabaAshi> Take care all and a nice way to end the trading week.16:15

I won't be trading next Monday nor Tuesday and go on vacation next Wednesday.

However, I will leave my computer on to keep the logs of #FuturesTrades.16:16

Also, I'm going to try a virtual office why traveling and will on a few occasions log into #FuturesTrades to see how things are going.16:17

Take care and have a nice weekend...see all on Monday but won't be trading.
* DisconnectedSession Close: Fri Jul 14 16:18:03 200616:18

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