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#FuturesTrades July 20th Friday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+18.40	+162.80	+1851.30
$1,840	$16,280	$185,130

click on image to view actual size

Current Performance Record

Jul 23rd Mon Secondary WRB S/R Zone(s)

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 especially if your a struggling trader or a trader not reaching your profit goals.

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: Fri Jul 20 09:26:59 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:26

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<venedom> GM 09:28

<pat255> gm guys..@office again... 09:29

<PapaJon> gm all 09:30

<base> GM all 09:34

<Awash> good morning all 09:35

* lesAway is now known as les 09:37

<RussellDaytrade> my work suggests a possible downside near 848.5 09:38

<Brutus> ER and options exp :) 09:39

<RussellDaytrade> I covered remaining shorts in the overnight session when I saw asia holding 09:40

stayed up too late, will be going for a nap soon, just wanted to check my trades closed...RDT is now known as RDT_napping 09:42

<NihabaAshi> Shorts ER2 @ 851.40 -> medium size 09:44

Covered ER2 Short @ 850.00 --> + 1.4 09:48

Holding 1 contract

<pat255> vn niha ....

<NihabaAshi> Should have been short around 0934am est but had an important phone call. 09:49

<venedom> George W Nin? 09:51

<les> Shorts ER2 @ 849.6 «« paper »» 09:53

<RussellDaytrade> close enuf

<les> Covered 1/2 ER2 Short @ 848.6 --> + 1 «« paper »» 09:54

<NihabaAshi> There's no panick (low volatility) in this drop and that makes it so sneaky. 09:55

It's very orderly as if its suppose to do this accordingly to some plan. 09:56

<Awash> is that how creeper trends start?

<les> exit stop lowered ER2 @ 847.2 «« paper »» 09:57

<NihabaAshi> Covered Remainder ER2 Short @ 845.70 --> + 5.7

Now the volatility has shown up...good time to dump the remainder.

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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> nice trading Niha, that's a big grab 09:58

<NihabaAshi> Awash...it's not even a creeper trend downwards because to be a "creeper trend" there needs to be a lot of intervals with small ranges.

<Awash> this is selling pressure

<NihabaAshi> Volatility increasing more now. 09:59

<les> exit stop lowered ER2 @ 846.1 «« paper »»

<Brutus> Long ES @ 844.4 «« paper »»

<les> Covered Remainder ER2 Short @ 845.9 --> + 3.7 «« paper »»

wrong, sorry

Covered Remainder ER2 Short @ 845.1 --> + 4.5 «« paper »» 10:00

<Brutus> exit stop set ES @ 843.9 «« paper »» 10:01

Im holding this till EOD unless stopped

* subq market profile charts, late but still good :) 10:02

http://www.charthub.com/images/2007/07/2 0/er2_rth_mp.png

http://www.charthub.com/images/2007/07/2 0/es_rth_mp.png

http://www.charthub.com/images/2007/07/2 0/nq_rth_mp.png

http://www.charthub.com/images/2007/07/2 0/ym_rth_mp.png 10:03

<NihabaAshi> I'm officially in "profit protection mode" after the big first trade. 10:08

Thus, 1 contract only for the remainder of the trading day.

Long ER2 @ 845.50 -> small size 10:09

tough candlestick pattern trade (Harami).

It's one of the generic low reliable ones. 10:10

<les> Long ER2 @ 845.5 «« paper »»

<venedom> Shorts ER2 @ 845.40 10:11

<les> Exited all ER2 Long @ 845.6 --> + 0.1 «« paper »» 10:12

Long ER2 @ 845.7 «« paper »» 10:13

Exited 1/2 ER2 Long @ 846.9 --> + 1.2 «« paper »» 10:14

<NihabaAshi> Exited ER2 Long @ 846.70 --> + 1.2

<les> Long ER2 @ 846.3 -> Add «« paper »» 10:15

<NihabaAshi> For those that read the archive chat logs at http://www.thestrategylab.com/RecentTrad es.htm 10:18

I'll have them updated tonight.

<venedom> Covered all ER2 Short @ 845.3 --> + 0.1

too long 10:19

<les> Long ER2 @ 845.3 -> Add «« paper »»

<jperl> This mornings trades here.... 10:20

http://charts.dacharts.com/2007-07-20/JP ERL_0119.jpg

ER2 peak volume 845.60 < VWAP 848.46.... 10:22

expect return to VWAP but ....

There is a lot of "molasses" in the way....

may be slow going

<NihabaAshi> ER2 volatility declining... 10:29

I'm expecting a volatility spike here soon.

<venedom> chop chop 10:30

<les> Exited 1/2 ER2 Long @ 846.4 --> + 1.1 «« paper »»

<ItalianSharp> pool is speaking right now

<les> exit stop raised ER2 @ 845.9 «« paper »» 10:31

Trailing Stop Hit ER2 @ 845.9 --> + 0.2 «« paper »» 10:32

<Awash> Shorts ES @ 1552.50

<NihabaAshi> Nothing so far (volatility spike) and ranges of each interval still tight. 10:34

<Brutus> 10 y yield 4.94 10:35

<les> Shorts ER2 @ 845.2 «« paper »» 10:36

<NihabaAshi> There's the volatility spike. 10:37

<Awash> exit stop lowered ES @ 1552.25 10:39

<pat255> vn awash ..missed it tho myself 10:40

<Awash> Covered 1/2 ES Short @ 1550.50 --> + 2

thanks

we went thru LOD and bounced a bit

need to bank some points

<les> big b/down coming 10:45

<Awash> Covered all ES Short @ 1548.50 --> + 4

<pat255> vn

<Brutus> Exited ES Long @ 843.8 --> - 0.6 «« paper »»

<les> Covered 1/2 ER2 Short @ 844.2 --> + 1 «« paper »»

more down coming i think 10:48

<NihabaAshi> Nice trade Awash.

<les> exit stop lowered ER2 @ 844.6 «« paper »»

<Brutus> Long ES @ 843.2 «« paper »» 10:50

exit stop set ES @ 842.5 «« paper »»

<NihabaAshi> Long ER2 @ 843.80 -> small size

<les> Trailing Stop Hit ER2 @ 844.6 --> + 0.6 «« paper »» 10:51

<NihabaAshi> This is one of those trading days we need to exploit because they can make big changes to the profit loss for the month.

<les> i done for today 10:52

cya all next week

<NihabaAshi> Exited ER2 Long @ 845.10 --> + 1.3 10:53

<venedom> Shorts ER2 @ 845 10:56

<Awash> Niha, thanks

<Brutus> ER just has to clear this 846 zone

<NihabaAshi> New WRB s/r zone that I'm watching 845.70 - 844.90 and it may change soon after 11am est. 10:58

<les> what chart interval, niha? 11:00

<NihabaAshi> 2min

3min WRB s/r zone is 845.80 - 844.50 11:01

ER2 volatility dropping... 11:02

I'm expecting a volatility spike to push price outside the WRB s/r zone (up or down).

Treasury Futures in a pullback after the strong movement to the upside. 11:10

<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) 11:15

<venedom> Covered all ER2 Short @ 843 --> + 2 11:20

<Awash> nice Venedom

<venedom> ty 11:21

<Brutus> Exited ES Long @ 842.5 --> - 0.7 «« paper »» 11:22

:( was away for 5 mins and ....

<NihabaAshi> That's a big "volatility breakout" for those that trade volatility breakouts. 11:23

Shorts ER2 @ 839.50 -> small size 11:28

<Brutus> ER at 0711 low 11:29

<NihabaAshi> Yeah...just saw that after I got short :(

Covered ER2 Short @ 840.10 --> - 0.6 11:30

Long ER2 @ 840.50 -> small size 11:31

Back to back late entries with poor rewards... 11:32

time to go to lunch and take a break from watching the charts.

Exited ER2 Long @ 841.20 --> + 0.7 11:34

* NihabaAshi is now known as NihabaAshi_lunch 11:35

<Brutus> The divergence from 071107 to present of the ER to NQ and ES is huge 11:38

<Awash> what do you mean? 11:40

<Brutus> http://stockcharts.com/charts/candleglan ce.php?$INDU,$COMPQ,$SPX,$TRAN,$RUT,AAPL ,SPY,QQQQ,IWM,$VIX|B|B14 11:42

Awash compare

<Awash> ol 11:44

ok

<venedom> nice move 11:49

<Brutus> 07/20/2007 11:50 *DJ Fed Poole: Subprime Mkt Problems Should Remain Contained 11:50

<venedom> tell that to bear stearn investors 11:51

<Awash> ES at Wed LOD 11:55

<venedom> these all started with GOOG yesterday 12:00

* NihabaAshi_lunch is now known as NihabaAshi

<NihabaAshi> Shorts ER2 @ 836.10 -> small size

Covered ER2 Short @ 835.60 --> + 0.5 12:02

<venedom> nice and fast'

<NihabaAshi> I was trying to hurry and eat a fast lunch...missed getting short at 836.60 12:03

<venedom> sushi? 12:04

Shorts ER2 @ 837.50 12:10

Covered all ER2 Short @ 837.50 --> 0 12:15

chop time again

protec profit time

<intowin> Long ES @ 1541.50 12:16

Exited 1/2 ES Long @ 1542.75 --> + 1.25 12:26

<ItalianSharp> either the downtrend is weakening or the lunch time just took away all the volatility 12:44

<Awash> latter is more true

trend still in tack

intact

just going thru normal moves

<intowin> Exited all ES Long @ 1541.75 --> + 0.25 12:46

<venedom> Shorts ER2 @ 840 -> small size 12:48

<NihabaAshi> Long ER2 @ 839.80 -> small size 12:49

<venedom> the master agains the student lol 12:50

Covered all ER2 Short @ 838.8 --> + 1.2

now make your master N

<NihabaAshi> Exited ER2 Long @ 838.90 --> - 0.9 12:52

Reverse and Enter Short ER2 @ 838.90

<intowin> Long ES @ 1541.50 12:53

I think we chop a while 12:55

<venedom> veal 4 me pls

<szubaark> pretty good followthru so far

<Awash> yep

<intowin> exit stop set ES @ 1539.50 12:56

Exited all ES Long @ 1539.50 --> - 2 12:58

no chops for no one

<szubaark> follow thy Master 12:59

<intowin> hard to pass a low risk trade..

<venedom> lod? 13:01

<NihabaAshi> Covered ER2 Short @ 836.70 --> + 2.2

Reverse and Enter Long ER2 @ 836.70

<venedom> n1 master 13:02

<intowin> Long ES @ 1539.50

try again should push toward 1548 imo

at some point

<NihabaAshi> Exited all ER2 Long @ 837.90 --> + 1.2 13:03

<venedom> nice trading N..... 13:05

<intowin> Exited 1/2 ES Long @ 1541.50 --> + 2 13:10

<venedom> n1 in 13:13

<intowin> I hope so looking for upper 40's 13:14

<venedom> Shorts ER2 @ '839.4 13:17

<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) 13:18

<ItalianSharp> looks like we might have seen the bottom for a while 13:19

nice push by the bulls here 13:20

* codehead_afk is now known as codehead 13:29

<Awash> Shorts ES @ 1544.75 13:39

<intowin> Exited all ES Long @ 1546.50 --> + 7 13:40

close enough to 1548 13:41

<Awash> Shorts ES @ 1546 13:42

add

Shorts ES @ 1546.25 -> Add 13:51

<intowin> there is my 1548 13:52

* sep34_ is now known as sep34 13:54

<Awash> Shorts ES @ 1547.25 -> Add 13:55

boy did i scale into that position 13:58

<intowin> I am about to join you for the ride down A 13:59

<Awash> i'm in it to win it

<intowin> lol

<Awash> :)

my average is 1546, I will post exits based on average 14:04

* Fleneer2 is now known as Fleneer 14:24

<Awash> a lot of size trading in this area 14:26

a lot of size traded at 50% Retracement area of 1548.75 area (possible aggressive distribution by sellers) 14:30

<intowin> short ES @ 1547.25 14:36

<NihabaAshi> Long ER2 @ 843.50 -> small size

Exited ER2 Long @ 843.60 --> + 0.1 14:42

Lost my patience. 14:43

WRB Analysis

Learn More

<jperl> done for today....trades here.... 14:56

http://charts.dacharts.com/2007-07-20/JP ERL_0120.jpg

<intowin> Covered 1/2 ES Short @ 1545 --> + 2.25 15:12

<Awash> this has been a wild ride 15:17

exit half short at 1546 (average 1546) b/e 15:18

nothing positive is coming from this trade 15:19

<intowin> yeah I am looking to get out soon. 15:20

<Awash> Exit remainder at 1546.50 (average 1546), - 0.50 points 15:24

<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)

<Awash> intowin, now PA wants to retest LOD 15:31

<intowin> I am still in to win 15:32

<Awash> i know, you're doing awesome

i would have held if I got in at higher prices 15:33

<intowin> blind squirrel finding an acorn

<Awash> :)

<intowin> Covered all ES Short @ 1541.75 --> + 5.5 15:43

<Awash> awesome

<venedom> homerun

<intowin> nice ride up and down... gotta love that

<Awash> i'm taking notes for next time

yepper

good trading 15:44

I'm taking off

<intowin> me too cya guys...

<venedom> cu monday have a nice weekend

<Awash> later

<venedom> bye 15:52

* sep34_ is now known as sep34__away 16:03

<RONDOE> have a great weekend everybody c-u Monday for another wild week of fun & games

<RussellDaytrade> most volatile day since 3-14-07...welcome to the slow summer trading season. :) 16:08

* DisconnectedSession Close: Fri Jul 20 20:47:36 2007 20:47

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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

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