#FuturesTrades July 23rd Wednesday 2008 Trade Log

Trade Posting Chat Log Info: My name is M.A. Perry (a.k.a. online as NihabaAshi - martial arts & Japanese Candlestick term) and I am the moderator of #FuturesTrades.

I use the below chat log as feedback to critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading.  Also, the above profit/loss info represents my trades only and all trades were posted in real-time within 5 seconds unless otherwise noted after entry or exit as shown in the below chat log.

Further, although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based methodology (very objective) that involves price action only trading (no indicators). 

  There is some subjectivity involved with some of my trades when I'm developing a new entry signal, developing new trade management (hence the name TheStrategyLab.com) or when market conditions change resulting in me relying more on my market experience (intuition) instead of on my trading plan.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in real-time along with the trades of other members of #FuturesTrades...

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.
Time Zone Info	Chat Log below is eastern standard time (est) - New York City, U.S.A and/or Montréal, Canada time zone.
WRB Analysis	Learn More
	Session Start: Wed Jul 23 00:00:00 2008Session Ident: #futurestrades
<anglo>	.	07:49
<DJ>	gm	08:46
<nqcruiser>	any1 got zenfire license for me	08:47
<+nqcruiser>	demo1
<PapaJon>	gm all	09:20
<+DJ>	gm
<ripsboy>	morning all...	09:29
<drt>	gm	09:30
<+DJ>	gm
<szubaark>	Buys ES @ 1277.25 «« paper »»	09:33
<Awash>	good morning all	09:34
<ItalianSharp>	morning all	09:37
<+DJ>	gm	09:42
<+szubaark>	Exited all Long ES at 1278.50 --> + 1.25 «« paper »»	09:45
<+DJ>	Target er long met, exit, 717.9	09:46
	nice gap fill	09:47
	HOD 721	09:48
<@X>	#FuturesTrades Info ->  No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm	09:49
<+szubaark>	Buys ES @ 1279 «« paper »»	10:02
	Exited all Long ES at 1279 --> 0 «« paper »»	10:06
	too jumpy
<+Awash>	SHORT ESU8 1285	10:22
<kantor>	GM All	10:23
<+szubaark>	Shorts ES @ 1288 «« paper »»	10:34
<+DJ>	ES showing higher highs and lows	10:37
<shortorlong>	lowe lows?	10:38
<+shortorlong>	what timeframe	10:39
<+DJ>	short es 1289.25 small size	10:42
	out	10:44
	+0
	break below 1288?
	short poss
	20 per MA break there	10:45
	looking for real vol here	10:51
	bbl
<Widgetman>	ola	10:58
<+DJ>	hola
	close es 1285.75 from 1288 short, paper	11:00
	nice Head and Shoulders ES formed here	11:01
<+szubaark>	Covered all Short ES at 1285 --> + 3 «« paper »»
<+DJ>	nice trade	11:02
<+Awash>	nice szu	11:03
<+DJ>	awash, are you trading today's action?
<+Awash>	YES	11:04
<+DJ>	grt
<+Awash>	i posted my entries (Adds)
	i'm going to add a bit more and will post my averages by the close	11:05
<+DJ>	missed it, phone's been ringing
	ty
<+szubaark>	thnx
<+Awash>	ES at 50% retracement from OL to HOD	11:06
<+DJ>	1283.38	11:07
	those are my fibs as well...close anyway	11:08
<KN-SR>	DJ, what about 83.38 ?	11:09
<+KN-SR>	whats
<+DJ>	50% retrace level from HOD to low open range
	1291.25 to 1275.50
<+KN-SR>	thanks	11:10
	:)
<+DJ>	yw
<+KN-SR>	.75 shy from 92
<+DJ>	where are your travels taking you today, KN?
<+KN-SR>	london
<+DJ>	nice
<+KN-SR>	02 30 cst
<+DJ>	good time to be there
<+KN-SR>	:)
<+DJ>	i am there in my memories	11:11
<+KN-SR>	:)
<+DJ>	a little pub action would be fun
<+KN-SR>	i often go there....my family lives there
	hahaha
	i dont drink
<+DJ>	me neither
	but i used to
* ItalianSharp	is now known as ItalianSharp_away
<+KN-SR>	never did
	:)
<+DJ>	don't like the feeling any more	11:12
	if it does not enhance, i am not interested
	;)
<+KN-SR>	:)
	no idea, never been there :)
<+DJ>	good for you, KN
	hovering at this level on ES
	ER is same today	11:13
<+KN-SR>	was waiting for 92
	bad luck
	3 ticks
	so close but so far away
<+DJ>	close
	no cigar
	;)
<+KN-SR>	nop, dont smoke either
<+DJ>	Cigars are nasty
<+KN-SR>	again no idea, never did
<+DJ>	I am into fitness	11:14
	I just "smelt" 'em
	good enough for me
<+KN-SR>	hahaha
<+DJ>	er long signal in my automated system
	no vol
<+KN-SR>	yes
	it will be a flat day till the last hr or trading, i guess	11:15
<+DJ>	how's the weather there?
<+KN-SR>	i wasnt much into analysis for last few days, so i may be wrong
	nice and warm
<+DJ>	GREAT
<+KN-SR>	Typical LA weather	11:16
	:)
<+DJ>	haha
	last time I was in London, a beer truck ran a light
<+anglo>	two favorite passtimes of the english: rain and complain
<+DJ>	and into my motorcycle
<+KN-SR>	my flight is this afternoon	11:17
	:)
<+DJ>	awesome
	Italiansharp made a nice gesture
<+KN-SR>	yes anglo
<+DJ>	Love Italy
	My best friend has an Olive operation there
<+KN-SR>	rain is a problem in london as well as singapore
	singapore is the worst, rains everday :) ....... had lots of truble when i used to live there	11:19
<Cantine>	Rain is wiggity wiggity wack
<+DJ>	once we had a plan to live there
	it did not work out in Singapore
<+anglo>	are you chinese kn?
<+KN-SR>	nop	11:22
	i used to go school there
	my A and O levels
<+anglo>	are you pakistani?	11:24
<+KN-SR>	nop
<+anglo>	or hindu?	11:25
<+KN-SR>	:)
<+silo>	do you work for CIA?
	:)
<+KN-SR>	i love to
<+anglo>	yes
<+KN-SR>	haha
<+anglo>	i work for NSA
	"no such agency"	11:26
<+silo>	trying to infiltrate kn's cell network?
<+anglo>	kn must be hindu
<+KN-SR>	hahaha
	nop
<+DJ>	lower east side New Yorker	11:27
<+anglo>	or some type of muslim
<+KN-SR>	hahaha
	nop
<+DJ>	lol
	all I know is that I wanna be a smarter trader	11:28
	and whatever you "are", it does not matter to me
<+KN-SR>	hahah
	gave up?
<+silo>	you're bengali	11:29
<+KN-SR>	nop
<+anglo>	last chance: son of a diplomat
<+KN-SR>	my parents are
<+DJ>	laundromat?
<+anglo>	he's sikh
<+KN-SR>	nop
<+DJ>	Indian
<+KN-SR>	race: yes
<+DJ>	shoulda figured
<manto>	british	11:30
<+anglo>	do you have a scimitar?
<+KN-SR>	hahaha
<+silo>	kn is a figment of your imagination
<+DJ>	ha!
	my little friend who out-trades me
<+silo>	the tale of his conquests have been told for generations	11:31
<+DJ>	on my shoulder
	handed down
<+anglo>	ahhhh!... he is SANDOKAN!
<+DJ>	he wields a sword
	and shreds charts
<+manto>	whatever he is ..we apprecaiet Kn u being in the room ..
<+anglo>	with his kriss knife
<+DJ>	lops off candles
	manto, right on!	11:32
<+KN-SR>	my parents are from bangladesh
	i m indian in race
<+DJ>	are you headed there on this trip?
<+KN-SR>	yes	11:33
	frist time in 12 years
<+DJ>	wow
	relatives will be changed
<+KN-SR>	i dont know them atleast 99.99% of them
<+DJ>	you will be like a celebrity	11:34
<+KN-SR>	nop
	:)
	they dont know me either
<+DJ>	my buddy, Sunil, when he returns to Mumbai
	he is like an American Pres
	they treat him so well
	he brags
<+KN-SR>	hahaha
	will be in india for a day	11:35
	and bangladesh a day
<+DJ>	some day, I will go there
	alone
	my wife does not like crowds
<+manto>	have a goon one ...enjoy ..
<+KN-SR>	:)
<+kantor>	kn you are a nice guy
<+KN-SR>	smarter in that sense, not married, no trouble
	thanks kantor	11:36
<+kantor>	yw
<+DJ>	be safe
<+KN-SR>	will try :) as soon as this ES hits 92, i can travel easy	11:37
	:)
<+DJ>	may retrace to 1283 and turn
<+KN-SR>	i dont have anyting open
<+DJ>	bounced off of that level twice today	11:38
<+KN-SR>	i m login to my home computer and for for speed i m just using mirc
	i ve
<+DJ>	Er bounced off of 720.45 twice
<+anglo>	I'm login to your home computer too. everything seems fine.	11:39
<+DJ>	ha!
<+KN-SR>	:)
<+DJ>	i'm beginning to like you, anglo
<+KN-SR>	i have 256 bit encryption, 10 billion combinations.. dont think so :)	11:40
<+anglo>	piece of cake.
<+DJ>	one key access, anglo?
<+anglo>	I still dont understand anything...must be the language.
<+KN-SR>	and all my charts in mirror harddisk
	:)
	u cannt find c anyway :)
<+DJ>	ES 1286 level is of interest today	11:41
<+anglo>	I cant find my own ass most days. That's why I say everything seems fine.	11:42
<+KN-SR>	hahaha
<+DJ>	my ass kicked me in the head one time	11:43
	since then, foggy days
<+KN-SR>	one thing i have noticed for last few days.....may help us in trading
	the market starts moving as soon as dow opens	11:44
	unlike the other days, when its 10:15 when it starts trending
<+szubaark>	what time Dow opens?	11:45
<+KN-SR>	7-30
<+szubaark>	Estern?
<+KN-SR>	yes
<+DJ>	bbl	11:47
<+anglo>	hey KN, please save me sometime, I have backed up all your hard disks, but I'd apreciate it if you tell me what file I have to read. cheers buddy.	11:50
* Awash1	is now known as Awash	11:55
<@X>	#FuturesTrades Info ->  No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm
<Awash>	looks like we have a solid reversal at Highs of 1291.25	11:57
<+DJ>	y	11:58
<+Awash>	that area was crucial as a bigger picture, 38% retracement of overall downtrend from $SPX May high to July low
<+DJ>	ty	11:59
	opening chart now
	great input
<+Awash>	there haven't been any convincing buying interest since we reversed
<+DJ>	yes only one blip but vol was below the two earlier	12:00
	bars
	7:21 and 7:39 PST
<+Awash>	k
	it will be interesting to see how we trade over Lunch and afternoon session	12:01
<+DJ>	we have had some consolidation here earlier
	at the 1280 area
	first up-movement from this range
<+Awash>	agree but i'll have to watch to see if the interest here is plentiful	12:02
<+DJ>	at 7:18a PST
	TY
	could you let us know if you see it?
<+Awash>	there was above average volume that rolled in at 1280 but i'm sure we'll test it again before the day ends	12:04
<+DJ>	k
<+Awash>	or before 12:30pm CST
	i just want to see how we trade if ES gets back into yesterday range	12:05
	off to grab an early lunch	12:07
* Awash	is now known as Awash_lunch	12:08
<+KN-SR>	<+anglo> hey KN, please save me sometime, I have backed up all your hard disks, but I'd apreciate it if you tell me what file I have to read. cheers buddy. --------------------- here is the file name "I M LOST . GO AWAY"	12:15
<+szubaark>	Globex down? my quotes not miving, only Cash
<+KN-SR>	humm	12:16
	ts is working fine
<+DJ>	today was one of just a few sessions	12:22
	where the ER broke down very nicely from the top
	without hardly a consolidation until it his 722
<+silo>	Long ER2 @ 717.20 -> small size «« paper »»	12:39
<Jester>	nice silo	12:40
<+KN-SR>	take care all ..... good trading .... time to go
<+Jester>	enjoy your vacation KN	12:41
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	Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)
<+KN-SR>	thanks
<+silo>	Long ER2 @ 719 «« paper »»	12:53
	add
	that's an add
<+szubaark>	Buys ES @ 1280.50 «« paper »»	13:22
	Exited all Long ES at 1280.50 --> 0 «« paper »»	13:26
	lots of this consoildation chop crap lately	13:27
	silo, whats yur Stop?	13:34
<+silo>	back	13:36
	sorry was making lunch
<+szubaark>	Shorts ES @ 1278.50 «« paper »»
	that was a sneaky dump then quick upthrust :((	13:45
<+silo>	and a beaten up szu	13:47
	:)
	just kidding
<+szubaark>	yup, got caught on that one
<+silo>	target : 723.5
<+szubaark>	hahah.. that quick pop could be a fade for Longs	13:49
	Stop running bastids	13:52
<+silo>	Long ER2 @ 718.50 -> Add «« paper »»	13:53
<ItalianSharp_away>	all this week we've had crappy price action after 11.30-1200	13:54
<+ItalianSharp_away>	probably due to summer time?
<+szubaark>	Italian, this is worst Ive seen all this year
<+ItalianSharp_away>	agree szu, especially monday
<+szubaark>	No Wonder all brokers increasing Margins, people blowing up accounts in this chop
<+ItalianSharp_away>	monday and yesterday after 1230 was terrible
<+szubaark>	This is perfect Price Action to clean up bunch of newbie accounts	13:55
	[13:48] <silo> target : 723.5
<+ItalianSharp_away>	true, if you dont know what you are doing you get your ass handed to you
<+szubaark>	Silo, whats yur Stop?
<+ItalianSharp_away>	this is some good volatility to the downside...wouldnt be surprised if we saw new lows soon	13:56
<+szubaark>	Look at that last fakeout to upside(with a gorgeous double bottom) that was Brutal
<+ItalianSharp_away>	if eminis end up closing in the red today, expect more downside in the next days
* Awash_lunch	is now known as Awash	13:57
<@X>	#FuturesTrades Info ->  No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm	13:58
<+silo>	Long ER2 @ 719.80 -> Add «« paper »»	14:24
	Long ER2 @ 720.20 -> Add «« paper »»	14:26
<starglazer>	Long ES @ 1283.25	14:27
<+starglazer>	Exited all ES Long @ 1284 --> + 0.75	14:28
<codehead>	124.50 oil close	14:31
<+DJ>	1286 seems to keep indicating a key level	14:36
	since earlier and now
<+silo>	Exited all ER2 Long @ 721.30 --> + 3.4 «« paper »»	14:38
	there's another one that was in at 717
	so +4 more
	:)
<Spartan>	Long ES @ 1282.50 «« paper »»	14:45
<+szubaark>	welcome back Spartan
<+Spartan>	hello everyone	14:46
	Long ES @ 1282.50 -> Add «« paper »»	14:53
	Exited all ES Long @ 1280 --> - 5 «« paper »»	15:03
<+Awash>	five taps at 1278 today as yesterdays PDH was resistance at open and is now support, lets see if we can retest that area	15:08
<+DJ>	VOL has been so flat since 11:39a PST	15:15
<+Spartan>	Shorts ES @ 1280.50 «« paper »»	15:18
<+Awash>	DJ, Vol has been great for clues since then on the ES? do you mean it's been flat on ER2?	15:19
<+DJ>	no, flat on ES, since the big spike, around 4000 contracts	15:21
	you know he es better than I
	i am just looking at my bar levels
	there's only been three volume spikes all day above 7K contracts	15:22
<+Awash>	okay, i need to give you something valuable about volume, will change the entire way you read it
<+DJ>	on a minute chart
	probably normal?
	great, i could use input
<+Awash>	i don't look at one minute and the way i read volume i'm sure it would be tough to garner info from a one minute chart
<+DJ>	OK	15:23
<+szubaark>	Covered all Short ES at 1282.75 --> - 4.25 «« paper »»
	Buys ES @ 1282.75 «« paper »»
<+Spartan>	Covered all ES Short @ 1882.50 --> - 602 «« paper »»	15:24
	1282.50
<+starglazer>	Long ES @ 1283.25	15:25
<+Awash>	DJ, take a look at this at your convenience http://www.elitetrader.com/vb/showthr ead.php?s=&threadid=29005	15:26
	here's another one after you finish the first http://www.elitetrader.com/vb/showthr ead.php?s=&threadid=33766
<+DJ>	great	15:27
<+Awash>	it'll take some time to learn though
	don't beat yourself up trying to take it all in
<+DJ>	i'll save those links in browser	15:28
	thanks, A
<+szubaark>	Exited all Long ES at 1279.50 --> - 3.25 «« paper »»	15:37
	Shorts ES @ 1279.50 «« paper »»
	Rug Pull	15:38
	TANK, i need the points	15:42
<+DJ>	Awash: 1278 once again	15:43
<+Awash>	maybe we dont break today	15:44
<+DJ>	nice long wick on that last candle
<+Awash>	like szu says "a lot of chop"	15:45
<+szubaark>	we at bottom of the Chop range
	$Vix dropping down EACH DAY	15:46
<+DJ>	telling	15:47
	gn
* +DJ	is now away - Reason : Phone
<+Awash>	Still Short from Yesterday at 1260, Added this morning at 1285, currently my average is 1272.50. Holding 8 ESU8 SHORT with an average of 1272.50. I will post all exits based on my average.	15:50
	taking off early to run an errand
	see you all tomorrow
<+szubaark>	Covered all Short ES at 1281.25 --> - 1.75 «« paper »»	15:58
	cant watch this anymore
* szubaark	is now known as szubaark_Gone
<@X>	#FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm Close: Thu Jul 24 00:00:00 2008	16:04
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Google:	#FuturesTrades past logs can be searched via using Google. For example, pretend you want to research what has been said about volatility analysis. Go to the Google search window below and type in "volatility analysis" site:thestrategylab.com (exactly as I typed it including the quotation marks) and you will find everything associated with those key words that were used by any member of  #FuturesTrades.

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

Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Israel, Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:  

CME Emini Futures EMD, ER2, ES and NQ   

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 and ZG

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.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

 questions@thestrategylab.com

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