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#FuturesTrades July 23rd Monday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+4.90	+167.70	+1856.20
$490	$16,770	$185,620

July 23rd Mon price action did not generate any key WRB S/R zones for July 24th Tues.

Thus, use WRB s/r zones generated during the price action of July 24th Tues.

click on image to view actual size

Current Performance Record

July 24th Tues 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: Mon Jul 23 09:31:18 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:31

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

* Looking up Ihor user info...

<base> GM all 09:34

<PapaJon> gm all 09:35

<Awash> good morning

<NihabaAshi> ER2 volatility dropping fast...I'm expecting a volatility spike here soon. 09:39

<venedom> gm 09:40

<NihabaAshi> Long ER2 @ 843.50 -> small size

1 contract only

volatility still too low to risk anything more 09:41

<Awash> Shorts ES @ 1552.25

<NihabaAshi> Exited ER2 Long @ 842.60 --> - 0.9 09:44

Reverse and Enter Short ER2 @ 842.60

* lesAway is now known as les 09:45

<NihabaAshi> Shorts ER2 @ 843.20 -> Add

Volatility still declining. 09:48

<eminitrader> tradestation users ..can anyone confirm if they are getting tick data on SP ..symbol $INX ..mine is stuck @ 1534.10 09:49

<pdays> stuck here too 09:50

<NihabaAshi> Covered all ER2 Short @ 843.20 --> - 0.6

<eminitrader> k thx pdays..

kinda holding me from my trades 09:51

<NihabaAshi> Shorts ER2 @ 844.20 -> medium size

That's a Long position...sorry.

Will correct in a minute when I clear something else out. 09:52

Long ER2 @ 844.20 -> medium size 09:53

Anybody in here having problems with data on the FTSE100 futures on Euronext or have had data problems for the past week or so ??? 09:55

<les> i dont get those niha, but havnt had any data problems 09:57

<pat255> not so far ..niha

gm all..

<ripsboy> gm all...

<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)

<les> btw niha...i think the LSE will floating down the Thames fairly soon which may cause a few more data gitches :) 09:58

<NihabaAshi> Exited all ER2 Long @ 843.80 --> - 0.4 09:59

<eminitrader> lol

<NihabaAshi> Something is going on for the past week or so because my data in Euronext has been very spotty :(

<base> Any ideas why is the market that flat? 10:01

<eminitrader> wish i knew b )))))):) 10:02

<NihabaAshi> No key market events to juice it up a little.

<eminitrader> looks like setting base for test of highs

<les> ah c'mon emini - its cos its not going up very much and not going down very much either 10:03

<doublejay> gm all

<les> i thought u knew that

<eminitrader> hehehhe

<base> Damn flat Monday.

<eminitrader> nice one les..got me :)

<les> hehe

<NihabaAshi> Shorts ER2 @ 844.60 -> small size

2 only 10:04

<eminitrader> looks like new highs

ES i refer to

Long ES @ 1550

:( 10:06

Exited all ES Long @ 1549.50 --> - 0.5

key supp 1548...think will see some action thre 10:07

<base> Too risky for me. Btw, Niha nice ...

<NihabaAshi> Covered all ER2 Short @ 842.10 --> + 2.5 10:09

That gets me profitable for the day and usually when I say that I'm not too keen on trading this type of price action much longer. 10:10

<eminitrader> :)

<ItalianSharp> yeah...today doesn't look it's going to be much fun 10:11

<base> That was great in this kind of price action.

<RussellDaytrade> if you don't like the weather, wait 20 minutes...unless you're in England, or Seattle

<NihabaAshi> I'm reducing my profit target for the day from 1k to 300 bucks due to the low volatility. 10:12

<eminitrader> days just started niha..

<NihabaAshi> Thus, as soon as I reach 300 I will take a long break from trading.

Gap filled. 10:13

<eminitrader> not yet on ES

and nq 10:14

<RussellDaytrade> l 2 now

<NihabaAshi> Shorts ER2 @ 840.80 -> small size 10:15

<RussellDaytrade> hoping for lower prices to get longer

<NihabaAshi> 1 only 10:16

Shorts ER2 @ 841.60 -> Add 10:17

<jperl> Done for now....trades here... 10:18

<eminitrader> 1549.50 -1551.50 ...res ..nice area to get short ..for new los

<jperl> http://charts.dacharts.com/2007-07-23/JP ERL_0121.jpg

<NihabaAshi> Covered 1/2 ER2 Short @ 841.20 --> + 0.4 10:19

Covered ER2 Short @ 842.20 --> - 1.4 10:22

Reverse and Enter Long ER2 @ 842.20

2 contracts

<eminitrader> Shorts ES @ 1550.25 10:23

<NihabaAshi> I'm now lowering my profit target goals per trade due to the problematic volatility. 10:24

<eminitrader> cld see a sudden surge tohigh end of res area now

<NihabaAshi> I have a key WRB s/r zone of 844.70 - 843.10 10:25

Will use that to manage my trading for the remainder of the day.

Exited all ER2 Long @ 843.20 --> + 1 10:26

<eminitrader> looks like ES may test pivot high 10:27

<pat255> em pivot at what level? 10:30

<eminitrader> shld see a down move now after a coulpe of ticks on the nq ..all indices are aligned 10:31

<NihabaAshi> Long ER2 @ 843.50 -> small size

1 contract only

<eminitrader> nq @ res area now 52.50 - 56.50 10:32

<NihabaAshi> Long ER2 @ 843.30 -> small size 10:33

<eminitrader> be back ..sell add @ 51.75 ...stop @ 52.25 10:34

<NihabaAshi> Exited 1/2 ER2 Long @ 844.10 --> + 0.8

<eminitrader> 52 pat

<RussellDaytrade> target fulfilled

<NihabaAshi> Exited Remainder ER2 Long @ 843.60 --> + 0.3 10:36

<RussellDaytrade> hopefully it comes back down so that I can reload

<NihabaAshi> That's a +0.1 and not a +0.3

<les> Shorts ER2 @ 843.1 «« paper »»

<eminime68> 1st hour ES trading range 47.5-54.25 10:37

consolidation going on 10:40

<eminitrader> looks like it may test the lows 10:43

before deciding to make a move

* lesAway is now known as les 10:44

<les> will repost those shorts cos of disconnection...

Shorts ER2 @ 843.1 «« paper »»

Shorts ER2 @ 843.4 -> Add «« paper »» 10:45

<eminitrader> Shorts ES @ 1550.75 -> Add 10:47

change in trading plan ..stop now @ 1552.50 10:48

sorry 1551.50

10 short avg 1550.50 10:49

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={5a455 f55-21d5-4ba8-95be-d3bf00f5f06c} 10:52

<eminitrader> looking good for test of lows

<Brutus> 07/23/2007 10:48 DJ Hedge Fund Assets Swell To $1.74T On 2Q $58.7B Inflow-Report

<pat255> em what is your stop on this ? 52 10:53

<eminitrader> 1551.50

4 ticks pat

<pat255> ty

<eminitrader> :(( 10:54

Covered all ES Short @ 1551.50 --> - 2

<pat255> damn tight range ...very hard to trade dang

:( 10:57

freaking mess.. 10:59

<eminitrader> at least the flow is readable now pat 11:01

<pat255> yes . 11:02

<les> jezz i go away from my screen for 7 mins and lok what happens :) 11:08

Covered all ER2 Short @ 844.4 --> - 2.3 «« paper »»

anyway, amd done trading for today 11:09

<venedom> back after compo crash 11:17

* sep34 is now known as sep34_away 11:31

<werner> gm all 11:43

<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) 12:03

<Brutus> AROUND ASIA: China's CSI 300 saw its biggest two-day gain, advancing 4.7% today, to 4156.72; the index has risen 9.2% in the past two trading sessions 12:09

<RussellDaytrade> these are the good old days there

<pat255> back to office ty all 12:10

<jperl> Interesting 2 day VWAP chart for ER2..... 12:22

New peak volume forming at 845 with possible up move back to the VWAP @ 846.71 12:23

Jerry Perlstein

65 Runnymede Road

Rochester, NY 14618

Tel: 585-733-7653

email: jperl66@hotmail.com or

jperl@rochester.rr.com

<Brutus> http://www.rttnews.com/FOREX/AsiaMkt.asp ?date=07/22/2007&item=3

<jperl> http://charts.dacharts.com/2007-07-23/JP ERL_0122.jpg

The daily chart also shows VWAP 843.96 above the PVP 843.20,,,, 12:25

also suggesting up moves.....

If ER2 price action sticks around the 845- 845.30 levels for too long however.... 12:26

market could then take a tumble.... 12:27

It all depends on the relation of the PVP to the VWAP

2 day peak volume just shifted to 845.20 12:34

expect move up to VWAP @ 846.70 12:35

did I trade it?.... 12:36

no

why?

intra day peak volume shifted to 845.20 also...

suggesting down move to VWAP at 843.99

I don't trade contradictions 12:37

* sep34_away is now known as sep34 12:50

<doublejay> back after connection failure 13:00

<RussellDaytrade> I am setting a new record for how many times this short has dipped into and out of profitability...up to four times, and now again at b/e, so will be working on fith (no, not drinking) soon. :) 13:06

<Brutus> 07/23/2007 13:01 *DJ US 3-MONTH BILLS: 4.885%; 97.83% At High 13:19

<eminitrader> Long ES @ 1552.50 13:21

<asuni> emini, any problem with TS? 13:25

here delayed

<werner> here ts ok asuni 13:26

<eminitrader> no asuni...sorry late 13:31

Long ES @ 1551.75 -> Add

<asuni> thks werner and et

<eminitrader> Exited 1/2 ES Long @ 1552.75 --> + 1 13:43

<NihabaAshi> Long ER2 @ 844.20 -> small size 13:50

<eminitrader> Exited Remainder ES Long @ 1551.75 --> - 0.75 13:56

<NihabaAshi> Exited ER2 Long @ 843.40 --> - 0.8 13:57

Reverse and Enter Short ER2 @ 843.40

2 contracts now

Covered all ER2 Short @ 843.00 --> + 0.4 14:03

<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) 14:09

<eminitrader> Long ES @ 1549.25 14:22

<NihabaAshi> Long ER2 @ 842.30 -> small size 14:24

1 only

<RussellDaytrade> short worked out well, downleg exceeded anticipated target expectations. 14:25

<NihabaAshi> Long ER2 @ 841.60 -> Add 14:27

<eminitrader> Exited 2/3 ES Long @ 1551.25 --> + 2 14:28

<NihabaAshi> Exited 1/2 ER2 Long @ 842.40 --> + 0.8 14:29

<eminitrader> looking for a seel reverse 1551-1553 14:30

Exited ES Long @ 1551.75 --> + 2.5 14:31

Reverse and Enter Short ES @ 1551.75

<NihabaAshi> Exited Remainder ER2 Long @ 842.40 --> + 0.1 14:32

:(

<jperl> I'm done for today.....

trades here....

http://charts.dacharts.com/2007-07-23/JP ERL_0123.jpg

<NihabaAshi> Got pick pocketed on that retrace from 843.00

<jperl> A liitle rough around the edges in the 1 pm trading.... 14:33

<NihabaAshi> I was one tick away from the profit target for that remainder (843.10)

<jperl> clicked on some wrong buttons and had to undo them....

otherwise remainder of the day was ok

<RussellDaytrade> it GWL time 14:36

<eminitrader> gwl?

<RussellDaytrade> gut-wrenching-long :) 14:37

<eminitrader> lol

missed a add by 1 tick :{{ 14:39

may still get it

Shorts ES @ 1552.75 -> Add 14:44

<RussellDaytrade> my work suggests 844.3 on this leg

<eminitrader> shld see down now..

that i'm loaded to the sell side 14:45

<Awash> Dow strong today

<RussellDaytrade> and is scheduled to arrive at near 12:47 mnt, (14:47 est)

<eminitrader> Covered all ES Short @ 1553.75 --> - 3

thats was faster than the eye cld see :(( 14:46

<RussellDaytrade> or approx 3-4 more minutes, give er take a little

I am already calling it close enuf for me

<eminitrader> avg loss 6 ticks on 10

<NihabaAshi> Shorts ER2 @ 844.00 -> small size

:(

<RussellDaytrade> ah, two ticks off and a couple minutes early, what 'cha gonna do? :) 14:47

<eminitrader> heheheh

bank the money and run :)

<NihabaAshi> Covered ER2 Short @ 843.80 --> + 0.2 14:48

<eminitrader> slighty in the red now...

will try not to make it a wasted day

<RussellDaytrade> hmmm, with the strength , it may have another bit left inthe tank 14:49

<eminitrader> Shorts ES @ 1553.75

<NihabaAshi> Problematic and I didn't want to stay in it too long.

<RussellDaytrade> the strength in the overall mkt, is what I was referring to above, specifically the dow 14:50

<eminitrader> true A dow is looking very strong

<Awash> k 14:51

<eminitrader> but looks like the nq ansd es are done..unless the ym keeps making new highs

looks like the ES wants to test 1555.50 14:53

Covered 2/3 ES Short @ 1552.25 --> + 1.5 15:02

back in the black...but need 1550.75 on remainder to get daily tarhet 15:03

looks kinda promising ...lets wait and see

<jperl> Here is an interesting statistic on my daily trading from IB.... 15:07

It shows the number of trades I made and the avg buy price and average sell price.... 15:08

http://charts.dacharts.com/2007-07-23/JP ERL_0124.jpg

So I had 23 trades today for an average return of 0.2000 15:09

Does that make me a scalper?

<eminitrader> thats still 460 bucks ain't it...+ or - commish makes the difference 15:10

guess 100 bucks either way

<jperl> Yes...commish is 4.80 round trip or about $100 15:11

<eminitrader> so thats not too bad jper1...again given the kinda day its been 15:12

prolly u were better off taking ticks today..

<jperl> Yes ok for me today

But I'm wondering if that is my trading style....

lots of trades for few ticks 15:13

<eminitrader> on that note the ES had some nice swings today...

as long as u r comfortable with it...shld not make a difference

<RussellDaytrade> dow up 100, er positive too...by .10 cents

lol

<eminitrader> the way i look at it - if it does not tress u ...then its good 15:14

<jperl> I'm perfectly comfortable with it.....

It's just interesting how it all comes out

<eminitrader> no worries then :))

<RussellDaytrade> as the saying goes, you'll make it up on volume 15:15

<eminitrader> there r days jper1 when i have some 10 trades with prolly 1 0r 2 huge losers and the remaining scalping for ticks to make up...

so i guess its all in the semantics..

<jperl> What I find curious is ...... 15:16

<RussellDaytrade> and your broker has developed a strong fondness towards you

<eminitrader> hehehehe 15:17

<jperl> Most of the time when I enter a trade it goes my way at least 2 ticks

I could avoid all the hassle of scaling in or reversing.....

<eminitrader> mine sends me x'mas cards :))

<jperl> Just take 2 tick profits on every entry

<RussellDaytrade> yes, you get xmas cards every week of the year...or you should. :) 15:18

<eminitrader> :)

keep in mind though ...every trade we enter is an risk..

so less # trades = less risk ...and thats what we wANT 15:19

<RussellDaytrade> mkt may be at/nerar a balancepoint here, kinda between large structures, may have to decide which direction it wants to travel in...slow typer, looks like the decison was made while I typed

<eminitrader> same here ..exit remainder 1551.75 ...short of my target but a happy camper nevertheless 15:20

* sep34 is now known as SEP34_AWAY 15:30

<Awash> Covered all ES Short @ 1552 --> - 4.5 15:33

<RussellDaytrade> er is very weak...any sign of erosion in the broad mkt will likely take er down at an increasing velocity, and to an increased extent(s)...I talkin about into tomorrow...

<Awash> + 0.25

<eminitrader> did u hold the short all day A 15:34

<RussellDaytrade> if nothing dire occurs, as in a bad report, overnight mkts, etc, and mkts get a little more up traction, er may make up for a little lost time up tomorrow, since it got gassed today

and you may quote me on that! 15:35

<Awash> yep, trying a different setup

<eminitrader> k...

<RussellDaytrade> right now, looks more likely to carry-thru to the downside 15:36

<Awash> RDT, daily high & low set, good chance we stay within range 15:42

<RussellDaytrade> for tomorrow you saying A, or remainder of today?

<Awash> today

<RussellDaytrade> range-expansion tomorrow...about this time of day, earlier actually, I customarily begin toformulate how the mkt may shape the next session...seems likely to see range-ex, either up or down...in the er, down is closer in proximity, just the opposite in the dow, hence, it mkt goes up, er may play some 'catch-up' 15:45

and otherwise, it may accelerate in the trajectory it's currnetly on 15:46

if down is to be the course, and if it recievs a re-newed impetus, 830 may be a realistic expectaction 15:48

<Awash> good night all 16:04

<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) 16:12

<doublejay> bye all 16:21

* Looking up AusTrader00 user info... 16:24

<NihabaAshi> Take care all and see all tomorrow 17:01

* NihabaAshi is now known as NihabaAshi_away

<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) 18:18

* DisconnectedSession Close: Mon Jul 23 18:45:56 2007 18:45

Trading Edge:
Strategies
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)

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We are proud to say that our chat room members are from the following geographical areas in the world:

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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.