July 18th Tuesday 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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+0.00 +0.0000
$0.00 $0.00

Will be on vacation soon

No trades today and the log is posted below that contains the trades by other traders.

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: Tue Jul 18 09:08:17 2006Session Ident: #futurestrades
* Now talking in #futurestrades09:08
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
* NihabaAshi is now known as NihabaAshi_away09:14
<PapaJon> gm all09:28
<szubaark> gm
<asd> Short er2 @ 689 risk 209:34
<eminitrader> morn pj szu09:35
<Awash> good morning all09:36
<eminitrader> morn A
<Awash> morning
<szubaark> gm09:37
<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)
<eminitrader>  Shorts ES @ 1246.50 09:38
<Awash>  Long ES or YM @ 1246 paper 09:42
<asd> Cover er2 @ 68709:43
<jperl>  emini.....they are all green this morning...
http://www.charts.dacharts.com/2006-07-1 8/JPERL_014.png

Traders Accounting 

As traders we must treat our trading like a business if we are to succeed as traders and as a business. Therefore, waiting till the last few weeks March to prepare for April's taxes is not good for your trading and could put extra stress on your trading during tax month or the months that follow if your one of those traders that filed an extension.. Therefore, its best to be on top of your taxes throughout the year and Traders Accounting is a great resource for such especially if you want to prevent penalties or an audit several years from now.
<eminitrader> agree jper109:45

my trade was a scalp

Covered 1/2 ES Short @ 1245 --> + 1.5

for a bounce of early res

will watch a while before being bullish09:46

k know what u mean jper1 :))09:47

took a while to sink in09:48
<pat255> gm all
<eminitrader> morn pat
<pat255> gm emini...09:49
@office just watch..
<eminitrader> :)

Covered 1/3 ES Short @ 1245.50 --> + 1 09:50

holding 109:51
<pat255> good start emini
<eminitrader> thx pat
<Awash>  Exited all ES or YM Long @ 1244.50 --> - 1.5 paper
<eminitrader>  Covered ES Short @ 1246 --> + 0.5 09:57

Reverse and Enter Long ES @ 1246
<szubaark>  Long NQ @ 1486
emini..looking for bounce here at Previous Day High09:59
<eminitrader> looking to break yes high szu

yes = yesterday10:00

Exited all ES Long @ 1245.50 --> - 0.5
<szubaark>  Exited all NQ Long @ 1484.50 --> - 1.5 10:01
Shorts NQ @ 1484.50
ES Double Top10:02
<eminitrader> yep10:03
<szubaark> watching for gap close
<Awash> ES at opening low10:04
<eminitrader> might get a bounce here
<Awash> yep, bulls and bears will have to slug it out10:05
<szubaark>  exit stop moved to breakeven NQ @ 1484.50
watching ES,YM to break opening Lows10:06
Covered all NQ Short @ 1478.50 --> + 6 10:09
<eminitrader> very nice szu :)
<szubaark> thanks.. was patient.10:10
emini ES double Top was the Sell. And i was patient to wait for that signal.10:11
<eminitrader> good trading szu..
<Awash> nice szu10:12
<eminitrader> es did;nt give an set-up to get short :((
<szubaark> Also that was a reversal.. i was looking for highs to break as jperl pointed out everything looked Bullish.
<eminitrader> k u thought of fading this break of the high ?10:14
<szubaark> coudnt break. Go Opposite.10:15
<eminitrader> k
<szubaark>  Shorts NQ @ 1477.75 10:18
exit stop set NQ @ 1477.75 10:20
previous day low target 1472+
Covered all NQ Short @ 1477.75 --> 0 10:22
lots a shakes now
<Awash> what does you alls chart reflect as the ES close at 3:15 CST?10:23
<szubaark> CST? is that 1-2 hours behind eastern?10:24
<Awash> 1 hour
<szubaark> 124010:25
<eminitrader>  Long ES @ 1242.25
<Awash> anyone with something different than 1240?10:26
just curious
<eminitrader>  Long ES @ 1241.75 -> Add

Exited 1/2 ES Long @ 1242.25 --> + 0.5 10:30

thats a b/e10:31
<WannaBeBOS> is nihaba out today?
<Awash> emini, you don't mess around, if it doesn't go your way within seconds you're out
<eminitrader>  Long ES @ 1242.25 -> Add 10:32
long bias today ...so far
looking for an ideal entry10:33
<Awash> k
<jperl> http://www.charts.dacharts.com/2006-07-1 8/JPERL_015.png10:34
still long bias...but bears a sticking their heads up
<szubaark> lol
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<eminitrader>  Long ES @ 1241.75 -> Add 10:35
holding 6 ..thats it for now
<szubaark>  Shorts NQ @ 1475.75 10:36
<eminitrader>  Exited ES Long @ 1240.25 --> - 2 10:38
Reverse and Enter Short ES @ 1240.25
<szubaark>  exit stop moved to breakeven NQ @ 1475.75

lets see if i get that PDL 1472+ target
<pat255> k gys back to work this is a mess.
<eminitrader>  Covered ES Short @ 1240.50 --> - 0.25 10:39

Reverse and Enter Long ES @ 1240.50
<szubaark>  Covered all NQ Short @ 1475.75 --> 0
frikin Chop
<eminitrader> holding 10 fully loaded10:40

largest trade so far in july
<szubaark>  Long NQ @ 1476.75 10:41
wow emini.
<Awash>  Long ES or YM @ 1241.25 paper
<eminitrader> have an reverse sell @ 1239.7510:43
<szubaark>  Exited all NQ Long @ 1473.25 --> - 3.5

Shorts NQ @ 1473.25

Pressure from Oil pulling this down in a Chop10:46
<eminitrader>  exit stop moved to breakeven ES @ 1240.50 10:49
<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)
<eminitrader>  Exited all ES Long @ 1240.50 --> - 1.25 10:50
thats a b/e
still have a long bias10:51
<jperl> hope not10:52

http://www.charts.dacharts.com/2006-07-1 8/JPERL_016.png
<eminitrader>  Long ES @ 1240.50 10:53
Exited ES Long @ 1240.50 --> 0 10:55
Reverse and Enter Short ES @ 1240.50
<szubaark> Everything going RED10:56
<eminitrader> man i screwed up
<Awash>  Exited all ES or YM Long @ 1239.50 --> - 1.75 paper
<eminitrader>  Covered 1/2 ES Short @ 1239 --> + 1.5 10:57
was holding 15 ..forgot to cancel the sell order @ 1239.7510:58
now holding 8
<szubaark> ouch.. emini u mean Longs u still hodling?
<jperl> http://www.charts.dacharts.com/2006-07-1 8/JPERL_017.png10:59
more red
<eminitrader> no i was out the longs @ b/e but had an stop to sell @ 1239.75

i had forgotten to cancel that once i got out the long11:00

well the good thing is that mrkt is in the right direction

Covered 1/2 ES Short @ 1237.50 --> + 3 11:01

holding 4 now
<szubaark>  Covered all NQ Short @ 1470.25 --> + 3
<eminitrader> this is what happens when trading too much i guess ..luckily for me it worked out this time :)11:02
<szubaark> emini this is tough.. emotions get involved then u overtrading11:03
i do it all the time
<eminitrader> very true szu ..totally with you on this

thought i finally got over it ..but apparently its still haunting me today11:04

<szubaark> Im really careful now protecting my Profits11:05
<eminitrader> in the green today szu ...but not happy with the quality of trading...11:06

will stop trading after this trade
<Awash> E, for the entire day?11:07
<eminitrader> at least till pm ..got some decent money today ... although by default11:08
<PapaJon> jeeze... tough trading morning... ugh
was in black .. then in red.. now b/e... flat11:09
<eminitrader> we were just chating abt that pj11:10
<PapaJon> yah. its been tough
btw.. anyone notice the flasher in er2 dom earlier?11:11
hehe... actually after commish.. i am - $2.0011:13
<eminitrader> not bad pj ..considering the pa11:14

i;m in the green today cause of pure luck :)
<PapaJon> congrats
<eminitrader> by default ...he he11:15
<PapaJon> hehe.. just scalped a quicky.. now in black
<eminitrader> there u go
<PapaJon> enough of this nonsense...
<Awash> :)11:16
<eminitrader>  Covered 1/3 ES Short @ 1237 --> + 3.5
holding 2 now
exit stop moved to breakeven ES @ 1239.75
if es breaks 1234 ..looks like a free fall11:17
<PapaJon> nice et
<eminitrader> thx pj
<PapaJon> one of my bread & butter trades just isn't working today... at all... very frustrating when that happens11:18
<eminitrader> yep..11:19
<PapaJon> and my other b&b strats are barely doing it's job
<eminitrader> give it a break this month ...
<PapaJon> suppose i should... maybe just test it in sim or someting...11:20
<eminitrader> or if u really want to trade reduce ur size to a minimum 1 contract11:21
<PapaJon> specially since I have no historical stats for this or next month for my current strategy/ruleset

can't et... part of my strats is the trade management which requires minimum 3 contracts
<eminitrader>  exit stop raised ES @ 1237.75
<PapaJon> i have tested it with 1 cont.. and net effect is in the red...11:22



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
<eminitrader> understand
looks like cmr is dropping in just to check out the trades short or long ..11:23
if long then its abt getting short ..he he
<PapaJon> :)
<eminitrader> be back11:24
<PapaJon> Anyone interested in a discussion bout the flasher this morning in er2??11:26
<Awash> possible reversal brewing in ES11:30
above avg VOL spike on 5 min 10:20am candle11:31
<eminitrader>  Covered Remainder ES Short @ 1237.75 --> + 2.75 11:32

late post
<szubaark> nice emini11:34
<eminitrader> thx szu ..all's well that ends well :))11:35

my heart stopped for a min ..when i was holding 15 contracts ..which was not in the plan at all..planned to trade size today but max of 1011:36

and to the long side
<Awash> hey E, you got trapped, made a small mistake, and you adjusted quickly11:37
shit happens, although not often in your case11:38
<eminitrader> small............
<Awash> you managed it
<eminitrader> thx for the confidence A
<Awash> i got jammed in 2 longs and lost big
bigger than what you lose
<eminitrader> guess u r right gotto appreciate myself for getting back
<Awash> i just need to wipe it off and continue on
you did pretty good at managing it11:39
even if it was outside your initial plan
<szubaark> emini where u see this retracement going for Short?
<eminitrader> am wondering if i would feel the same if i were on the wrong side :)
<Awash> don't think about that

don't think about how you'd feel if you were on the wrong side because it didn't happen11:40
<eminitrader> szu on the ES i will reshort at 1240 ans add at 1241 with stop ar 1242.25
guess u r right A ..actually i would'nt be in this mess if the mrkt would have gone long cause i planned for it11:41
<Awash> :)
<eminitrader> got caught becuse i simple forgot to cancel my stop( not in the plan ) after i was already in a short position11:42
adding to this short was not in at all11:43
<Awash>  Long ES or YM @ 1239.50 paper 11:44
<eminitrader> always good to go with the trend A11:45
<Awash> you right11:46

possible trend reversal brewing11:50
<eminitrader>  Shorts ES @ 1240
<Awash> i preferred an entry price of 1239

Exited all ES or YM Long @ 1240 --> + 0.5 paper 11:51
<eminitrader> untill i get a reversal siganl i would stick to the trend11:52
would = will
<jperl> http://www.charts.dacharts.com/2006-07-1 8/JPERL_018.png11:53

pulled this mornings crap out of the fire....

hate this kind of da11:54
<Awash> what about the price reversal off the PDL, advance above pivot high of 1239 at 10:10 CST
<jperl> day
<eminitrader> nice day jper1:))
<jperl> not to my liking
<Awash> you're looking at the overall price movement as a pullback of the morning Trend?11:55
<eminitrader> the nos or the trading ?

yes A

i would think of longs only if 1243-44 was pierced thru11:56
<Awash> k
that's roughly seven points off the PDL bounce
but i get your drift11:57
<eminitrader> pdl = ?

k is it the prev day low
<Awash> PDL
<szubaark> jperl, good job.
<Awash> yep
<eminitrader> thats got nothing to do with today;s trading in my book11:58
<jperl> I wouln't be too impessed with my trading today
<eminitrader> join the crowd jper1 :)

Covered 1/2 ES Short @ 1238.50 --> + 1.5 12:01
<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)
<eminitrader> feeling a lot better with this trade12:02
<pdays>  Long ER2 @ 679.8 paper 12:03
Exited all ER2 Long @ 678.8 --> - 1 paper 12:06
<eminitrader> szu ..u didnt take the short on the retrace ?12:07
<szubaark> was looking for more conformation.. got no setup
<eminitrader> k..
<szubaark>  Shorts NQ @ 1470 12:09
<eminitrader> i go with the fib nos. on retracements szu..pa and it works pretty well

usually i will add on if we get a pa confirmation
<szubaark> i see weakness so im chasing it here12:10
Entry should have been 73-74 BUT got no clear Signal12:15
<eminitrader> if u were waiting for a PA set-up then there was none u r right szu
<Awash> PA?12:16
<eminitrader> price action
<Awash> possible trend momentum slowing as we fail to set new low12:17
<eminitrader> patience my friend :)12:18
<szubaark> emini right.. went up in a straight line then down.. no lower highs/double tops on that pullback12:19
<eminitrader> a normal trading day would mean chop-chop untill lunch..lets see if today is a normal trading day
<Awash>  Long ES or YM @ 1238.75 paper 12:20
<szubaark> going with the trend not taking much heat on this "intuition" trade12:24
<eminitrader>  Covered Remainder ES Short @ 1238 --> + 2
* PapaJon is now known as PapaJon_afk12:25
<eminitrader> may chop betn 1469 1nd 147612:26
<Awash> watching to see how price retest most recent pivot high12:29

exit stop set ES or YM @ 1238.75 paper 12:40
<eminitrader>  Shorts ES @ 1240
<szubaark> hehe.. that inutition Short is making me nervous now. Its just not worth it.12:41
<eminitrader> i have a reverse to long @ 1241
<szubaark> finger on the trigger12:42
<eminitrader> that was a low risk trade12:43
<szubaark> emini.. Now im getting my Signal to Short12:44
<eminitrader> :}
<szubaark>  Covered all NQ Short @ 1476.25 --> - 6.25 12:46


frikin stupid trade
<eminitrader>  Covered ES Short @ 1241 --> - 1
Reverse and Enter Long ES @ 1241
<szubaark>  Long NQ @ 1476.25

Down for day again :(12:47
<Awash>  Exited all ES or YM Long @ 1240 --> + 1.25 paper 12:48
<eminitrader>  Long ES @ 1239.75 -> Add

holding 212:49
<szubaark> this doesnt look good. floor buys swingin it12:50
Exited all NQ Long @ 1473.50 --> - 2.75
Shorts NQ @ 1473.50
looks like a FAKEOUT
<eminitrader>  Long ES @ 1238.50

holding 3

Exited all ES Long @ 1237.50 --> - 3.25 12:55

Shorts ES @ 1237 12:56

this time we should see new los12:57
<pdays>  Long ER2 @ 678.7 paper
<eminitrader> los = lows
<Awash> minor support still intact
from reaction low or better yet pivot low of 11:25ish12:58
<pdays>  Exited all ER2 Long @ 679.0 --> + 0.3 paper
<eminitrader> all charts r now aligned with this move expect selling pressure
Shorts ES @ 1237.50 -> Add 13:00
there u go13:02
Covered 1/2 ES Short @ 1235.50 --> + 2 13:03
holding 2
Shorts ES @ 1236.50 -> Add 13:05
3 now13:06
Covered all ES Short @ 1236.50 --> + 0.5 13:10
will look for a better entry
<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)13:13
<Awash2> just had a massive power surge13:14
* Awash2 is now known as Awash
<WannaBeBOS> passed13:15
<Awash> my battery back-up died

need to change it
<eminitrader> had a nice entry ..chickened out trying torotect earlier profits :((13:19
<szubaark>  Covered all NQ Short @ 1463.25 --> + 10.25 13:26
<eminitrader> excellent szu
<szubaark> thanks emini.. barely Plus for day if u add commissions13:27
<Awash> EminiTrader, see PM
<eminitrader> but on this one u got it right could'nt have been better
<szubaark> Yes. thing is they Stop you so many times before u can catch a big mover.13:28
<eminitrader> no pm here A .. be back in a couple
<Awash> k
<szubaark> im done for today. gonna keep my Profit this time. any screw ups for today.13:29
* szubaark is now known as szubaark_away
* Disconnected  16:01

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