#FuturesTrades trade log for traders - CBOT, CME, EUREX, EURONEXT, NYMEX, COMEX and FOREX

July Trade Log

Trade Strategies

WRB Analysis Tutorials

Music While Trading

Testimonials

Disclaimer

#FuturesTrades July 24th Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+18.10	+185.80	+1874.30
$1,810	$18,580	$187,430

Pattern Signals and Profit Targets

829.00 - 824.90

Profit Targets Only

821.20 - 819.30

click on image to view actual size

Current Performance Record

July 25th Weds 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: Tue Jul 24 09:29:36 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:29

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

<pat255> gm all....hmmm up yesterday down today ..

<RussellDaytrade> it appears that my 830 call has achieved 09:30

close enuf

<pat255> vn rd..

<RussellDaytrade> thx Pat...I am now long, and buying, on very wide scales 09:31

bigger picture, mkt likely to go lower, significantly, I believe 09:32

<pat255> looks like ..

<eminitrader> looks like it Rd ...but i wld still wait a couple of days to confirm that

<pat255> agree em

<eminitrader> Long ES @ 1537.50 09:33

large size

expection a bounce here 09:34

3 tick stop

<Awash> morning all 09:35

<base> jperl: Do you think it is going that low?

<eminitrader> Exited 1/3 ES Long @ 1539.50 --> + 2 09:36

<NihabaAshi> Nice

<eminitrader> thx 09:37

major supp level for ES and SP

<doublejay> hi all

<jperl> I don't think about where it may go, I just react

<PapaJon> any clue as to the reason for this o/n gap? 09:39

<eminitrader> :((

Exited Remainder ES Long @ 1536.75 --> - 0.75 09:40

key supp broken

<RussellDaytrade> the US mkt is the whipping bot for the rest of the world...if the other mkts are gooing to come in, it is up to the US to lead them...it used to be the reverse 09:41

<NihabaAshi> Long ER2 @ 826.10 -> small size

<jperl> The talking heads don't seem to have any good reasons for this drop 09:42

<NihabaAshi> 3 only

high risk trade

<RussellDaytrade> missed my add by .5 09:43

<NihabaAshi> So far, the key price movement of the day is what occurred between 0800am - 0930am est. 09:44

<RussellDaytrade> hopefully it drops intio it, as long as we're in the neighborhood

though it doesn't look like it at the moment

<NihabaAshi> Exited 1/3 ER2 Long @ 827.40 --> + 1.3 09:47

<jperl> ER2 @ VWAP 827.66 09:48

<les> Shorts ER2 @ 826.5

<NihabaAshi> Exited Remainder ER2 Long @ 826.50 --> + 0.4

Anybody know if the former FED Chairman Greenspan is still speaking ??? 09:51

<ItalianSharp> i dont know niha...CNBC isnt talking about him

<RussellDaytrade> raised my add price near this area, added 1 , l 3 ap 828.9, down approx 600, and improving

<PapaJon> didnt know he was

<NihabaAshi> I think he started around 0830am est 09:52

<ItalianSharp> yes he did

<RussellDaytrade> can anyone understand what he is saying these days?

<NihabaAshi> Long ER2 @ 827.90 -> small size 09:53

1 only

<RussellDaytrade> EM...lower price, and a lessening on selling intensity, = positive divergence, although it 'feels' ugly as sin. :) (and I suppose it is) 09:54

<RONDOE> good morin all 09:55

<eminitrader> agree rd ..time for relesing some pressure ..looking for a entry 09:56

<RussellDaytrade> I have 833.8 on a nearby, and my larger structures are not that much above, huge range on nearbys, with the possibility that mkt also exceeds the larger structure up targets

<NihabaAshi> Exited ER2 Long @ 828.30 --> + 0.4 09:57

Poor trade management...had the WRB pt1 in my shooting scope but didn't pull the trigger :( 09:58

<RussellDaytrade> was green for a moment there

<eminitrader> looking for 32-34 area to buy

<les> Covered Remainder ER2 Short @ 827.6 --> - 1.1 09:59

<RussellDaytrade> I am not being aggressive enuf this am, preferencing discipline over aggressivenes

that little bounce would have noramlly have satisfied a nearbt target...not so today, hopefully 10:03

<eminitrader> has a little more upside to conform the normal flow direction 10:04

res area 1541.50 1544.. 10:05

<RussellDaytrade> if its gonna hold here, it should reverse quickly alomost violently about now 10:07

<eminitrader> if not expect a downtrend day if we see new lows around 10:30...prolly a creeper downtrend till lunch time...where we may see the mrkt make some of its losses...will be intrsting to see how it ends the day

<NihabaAshi> Geeesh

<RussellDaytrade> fk 10:08

<NihabaAshi> Les...too bad you got shook out of that short :(

<les> im was just gnashing my teeth niha

<RussellDaytrade> 820 now on the radar

<eminime68> short ER2 @823.70 10:09

<eminitrader> new lows a bit earlier than expect ...

<les> was good short sig, but it pushed back so hard, seemed too risky to continue

<NihabaAshi> Shorts ER2 @ 823.50 -> small size

<les> anyhow, its time for me to go.

<NihabaAshi> That's a lot of downside pressure...too bad I didn't see it earlier

<les> off on som holiday in a coupla days, so wont be back till 13 Aug 10:10

<eminitrader> have fun :))

<les> thk u

<eminitrader> where u off too

<les> i hope it isnt raining in Holland

<NihabaAshi> Covered ER2 Short @ 824.80 --> - 1.3

Reverse and Enter Long ER2 @ 824.80

<eminitrader> k

<NihabaAshi> 2 contracts on the reverse 10:11

<les> still looks like a bear to me

cu guys in 2+ weeks

<eminitrader> bye.. 10:12

<szubaark> have fun les

<les> thx guys

<RussellDaytrade> find some sun!

<les> what's that?

<NihabaAshi> Long ER2 @ 824.60 -> Add 10:13

<base> les: Take care les.

<eminitrader> shouldn't be hard in europe

<jperl> I'm packing up my marbles and stopping for the morning.... 10:14

trades here...

http://charts.dacharts.com/2007-07-24/JP ERL_0126.jpg

<eminitrader> Long ES @ 1537 10:16

purely out of frustration...had a buy @ 1534...missed by a cupole of ticks :((

<NihabaAshi> Exited 1/2 ER2 Long @ 825.50 --> + 0.9 10:18

Exited Remainder ER2 Long @ 825.30 --> + 0.5

<eminitrader> Exited all ES Long @ 1538.50 --> + 1.5

2 only 10:19

<Awash> Long ES @ 1539 10:20

<eminitrader> critical area ...new lows now confirm a downtrend day.. 10:25

at least till lunch 10:26

<RussellDaytrade> es visually very near, relatively, to it's intraday trading high...easily within srtiking range 10:32

<eminitrader> but not able to test it yet ...shows sellers in command 10:33

<Awash> Exited all ES Long @ 1537.50 --> - 1.5

<RussellDaytrade> 1540.75..if it can trade there and a little above...may change the complexion of this...at this point, if anyone is going to be the first outta the gate to the upside, es is it...nq pretty close too 10:35

<eminitrader> prolly see momemtum buyers come in around 1540

<Awash> we'll definitely need to breakout to new highs, so far nothing 10:36

<eminitrader> why ?

new highs i mean

<RussellDaytrade> yes, I am sensing an opportunity to circle the wagons here, and make a stand

<Brutus> yep vix at 18, looks more like Feb 27th :) 10:37

<Awash> for momentum buying to come in, at this level, we're stalling

<eminitrader> k thx ...

<RussellDaytrade> them damn bears and bulls must take turns going on group vacations 10:38

<NihabaAshi> Long ER2 @ 826.40 -> small size 10:39

<RussellDaytrade> I think the bears are ready to play cat-n-mouse, and let the mouse 'get away' here

<eminitrader> Long ES @ 1540

<NihabaAshi> I have an initial WRB target for this trade of 828.00 10:40

If/when it gets there...I'll then decide where to exit.

<eminitrader> Exited 1/3 ES Long @ 1541 --> + 1

<RussellDaytrade> I am looking for a large structure...those take hours to fulfill

<NihabaAshi> 2 contracts only and I messed up the position size...should have been 3 to 4 contracts. 10:41

<RussellDaytrade> I was green again there for an instant

<jperl> Peak Volume Prive ~= VWAP 827.00

<pat255> geez great patience rd .. 10:42

<NihabaAshi> I have my audio alerts set and a 1.5 stop/loss protection.

Be back later if any of my audio price alerts are hit.

<RussellDaytrade> that pvp should begin to enter a slow climb...or does it saty fixed if the volume abvove is less then it was at the lows?

* NihabaAshi is now known as NihabaAshi_away 10:43

<eminitrader> Exited ES Long @ 1543 --> + 3

Reverse and Enter Short ES @ 1543

<jperl> PVP is a discontinuous function.....

<NihabaAshi_away> Exited 1/2 ER2 Long @ 828.30 --> + 1.9

<jperl> changes abruptly......see here for discussion... 10:44

http://www.traderslaboratory.com/forums/ f6/trading-with-market-statistics-i-volu me-1962.html

<RussellDaytrade> this is where it becomes more challenging for me Pat, when I am actuially profitable, happy to report that I am making small improvements, but it varies day to day

ok thx JP 10:45

<jperl> yw

<RussellDaytrade> discontinouitous function..doe sthat mean it can 'hop around'? 10:46

<jperl> yes

<pat255> thks for posting your action ...rd

<jperl> unlike VWAP which is a continuous function

changes gradually throughout the day....see here for discussion of that.... 10:47

<eminitrader> Covered 1/3 ES Short @ 1542 --> + 1

<RussellDaytrade> well, I am hoping next time it changes, it'll be at some point above where the mkts are trading now! :)

<jperl> http://www.traderslaboratory.com/forums/ f6/trading-with-market-statistics-ii-the -1990.html

right now with PVP = VWAP = 826.90.... 10:48

<NihabaAshi_away> Exited Remainder ER2 Long @ 826.60 --> + 0.2

<RussellDaytrade> according to my work, es fulfilled it's nearby, nq nearly did, and er still taking gas, fell well short

<jperl> the only thing you can expect are oscillations about the PVP

<NihabaAshi_away> late post

<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) 10:49

<jperl> size of the oscillations should be about 1 standard deviation

<eminitrader> stop @ b/e profit targets in ....be back 10:50

<RussellDaytrade> you bet Pat

<NihabaAshi_away> Heading outside to do some yard work now that I know what my key WRB s/r zones are for the day. 10:51

Be back later.

<pat255> later niha

<eminitrader> Covered Remainder ES Short @ 1543 --> 0 10:57

Shorts ES @ 1543 10:58

<RussellDaytrade> oh, oh, when of them days!...how many times you gonna make me watch this re-run? :)

<eminitrader> nq / ym @ res ...prolly pull the es for a couple of pionts 10:59

yes 11:00

<RussellDaytrade> yeah...still waiting for a large structure to pull these dogs outta the well...carry on., fire at will

<eminitrader> :)

sell triggered in nq..wonder if es will follow 11:01

<RussellDaytrade> er need about a 2.5 dollar swift reversal on volume to do its part here 11:04

* Awash is now known as Awash_break 11:07

<eminitrader> looks like thats it for this move 11:13

<RussellDaytrade> you mean up, or down? 11:14

<eminitrader> Covered 1/2 ES Short @ 1541.50 --> + 1.5

up 11:15

i mean for my short

thats down sorry

<RussellDaytrade> er may be at a balnacepoint here, kinda looks like it

<eminitrader> was expecting 1538-1540 t a min :(( 11:16

nq test res again

looks like thats the key es ym waiting 11:17

<Brutus> e do you look for fib retracements for targets or just S/R

<eminitrader> Shorts ES @ 1543 -> Add 11:18

supp/res for targets...fib for entry

<RussellDaytrade> punk volume on that, bulls outta town 11:19

<Brutus> OK thanks

<eminitrader> Covered 1/3 ES Short @ 1542 --> + 1

looks like no runners today...

no complaints abt the scalps though

B = to be precise...i look @ fibs and one other indicator for confluence...my ma's...or supp/res...etc ...in line with one other index 11:21

Covered 1/3 ES Short @ 1540 --> + 3

<RussellDaytrade> eh, lots of daylight left, they'll get it up there, just gotta wade through the muck...saw daylight again for an instant, huh???!!! how about that?

<eminitrader> first target hit

now this is in line with the mrkt flow i was expecting 11:22

<Brutus> k

<RussellDaytrade> er holding now, relatively...not dropping as fast relative to es

<pat255> em what chart tf u sue for setups? 11:23

use

<eminitrader> Covered 1/3 ES Short @ 1539 --> + 4

holding 1

1538 ..last line of support if it wants to fill the gap

3 min chart pat 11:25

<pat255> ty

<eminitrader> ..have one of ym es and nq...3 screens ...all charts on same parameter settings 11:26

<pat255> k...ty

<eminitrader> browse the 5 15 30 60 occasionaly during the day

and the daily before the start of trading

<pat255> k...

<eminitrader> all with the same parameters 11:27

this set-up ewas basically of my numbers at around 10 ...based on the markt flow till then... 11:28

as i posted @ around the same time

[10:05:31] <eminitrader> res area 1541.50 1544..

<pat255> many thks em .. 11:29

<eminitrader> urw pat

looks like it is fighting @ the 1538 area 11:31

Covered Remainder ES Short @ 1538 --> + 5 11:33

will take this for now....

see u all for the pm session

<pat255> vn em ... dang missed it was nice try ..

<eminitrader> thx pat 11:34

<RussellDaytrade> time off for good behavior

<eminitrader> longs looking bad as of now...good luck rd

<Brutus> Nice e, no runners for new lows?

<eminitrader> nah...happy for ..

now

<RussellDaytrade> thx EM new lows looking doable, guess it depends how bad trhey want it 11:35

<eminitrader> cause for a minute i got lost on the rebound ...but was quick enough to notice that it was the nq retset of high that had the es on a stop runner...so quickly decided to add rather then get out at b/e ...so happy it turned out well 11:36

means its time for a break

<Brutus> Da down 1.8%

Dax

<RussellDaytrade> wqy to stay flexible 11:37

<eminitrader> if this area holds prolly attempt to fill the gap again RD

dont see enough steam for new lows ...maybe be later but not now 11:38

will prolly chop before deciding on direction

<RussellDaytrade> I have purposefully kept position size small today, so that i can withstand a fair amount of adversity...maybe a day early to be long, a long that gets good traction up, etc... 11:39

but like you said earlier, may hold after a possible bottom around lunch/midday 11:40

* NihabaAshi_away is now known as NihabaAshi

<eminitrader> time will tell :)) 11:41

<pat255> biab ...wify

<werner> gm all

<eminitrader> but the flow is as expected...only gripe in todays trading so far was missing the long @ 1534 by a couple of ticks....then chased it @ 1537...was lucky enough to get out on a profit 11:42

bad trading there

<NihabaAshi> Long ER2 @ 824.50 -> small size 11:44

<eminitrader> agree rd ..i'm still bullish on the mrkt on a larger mrkt scale as u call it...till i see confirmation of the trend change if it has happened already..prolly know by the end of this wk 11:45

<NihabaAshi> Long ER2 @ 823.90 -> Add 11:47

:( 11:49

It's trying hard to find some support here.

One more tick 11:50

* sep34 is now known as sep34_away 11:51

<NihabaAshi> Exited 1/2 ER2 Long @ 825.00 --> + 1.1 11:52

Got more than I planned when the volatility showed up for about 10 seconds. 11:53

:( 11:54

Be back later...got some family distractions here.

exit stop raised ER2 @ 824.50 11:55

* NihabaAshi is now known as NihabaAshi_away

* Awash_break is now known as Awash 12:02

* NihabaAshi_away is now known as NihabaAshi 12:12

<NihabaAshi> Geeesh...I missed a nice drop.

Late post and trailing stop was hit.

Trailing Stop Hit ER2 @ 824.50 --> 0

Long ER2 @ 823.90 -> small size 12:14

Trying again...similar like setup

Lowering expectation down from 828.00 to 825.00 12:15

<base> I am in the same position, I have entered after the hammer on the 5 minutes chart. Where have you seen your entry signal? 12:18

<NihabaAshi> I'm in via the 3min chart 12:19

<base> thanks

<NihabaAshi> 2min chart was good too.

Exited 2/3 ER2 Long @ 825.10 --> + 1.2 12:21

I'm 3 ticks away from my profit target goal for the trading day. 12:22

If I get it...I'll take another break from trading.

<base> I have just returned. :) 12:23

ER2 has almost reached its low since 05/17. 12:25

<NihabaAshi> Exited Remainder ER2 Long @ 825.90 --> + 2 12:26

<RussellDaytrade> only just startin to go up

<NihabaAshi> Got much more than I planned...

Be back later.

<base> RussellDaytrade: I hope so. 12:27

NihabaAshi :) See you.

<NihabaAshi> :)

* NihabaAshi is now known as NihabaAshi_away

<RussellDaytrade> me too. I think with patience it'll prove to work out well

JP, curious whether that pvp remained intact at earlier price you posted? 12:29

<Awash> a lot of volume rolling in

back near intraday HOD 12:31

<eminime68> ES double top 12:32

<RussellDaytrade> i have 831 832 large structures, which I also expect will be surpassed 12:33

er trying to do a little more of the heavy-lifting here, could be good 12:42

er at another balancepoint here 12:43

<pat255> back ... 12:44

<RussellDaytrade> measured move up a few bucks now

<pat255> nice entry niha 12:45

em any position here on es? 12:47

<base> ER2 is still staying between two Fibonacci retracement levels, 50% which is usually tough and 61.8%. (826.3 - 827.3)

<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) 12:55

<base> Still in that area. 13:04

<Awash> Shorts ES @ 1540 13:06

<RussellDaytrade> er balancepoint (bp) here 13:21

<Brutus> Yep ER and NQ look bullish 13:22

<RussellDaytrade> er wants to hunt, others holding it...any lift in es should get er jumping

<Awash> Covered 1/2 ES Short @ 1538.50 --> + 1.5

<Brutus> 827.8/.9 is key to watch in ER once it breaks it 13:23

<RussellDaytrade> this is the 7th time today this trade is is the green, with some luck, it'll pay, right now again at b/e 827.4 13:24

<Awash> Covered all ES Short @ 1539.75 --> + 0.25 13:25

<RussellDaytrade> if the others were firmer, I would call er just now at a launchpoint...may still be 13:26

<Brutus> Now ER below 827 is bearish 13:29

<RussellDaytrade> thgat's a matter of opinion 13:30

<Brutus> Yes you are right, unfortunately we dont trade opinion 13:32

<RussellDaytrade> maybe not all the time, but it would be best to, in my opinion. :) 13:34

lemme guess, if it goes above 828.2, it's a buy again...in your opinion? 13:35

<Brutus> Keep up the great sim trading 13:37

<RussellDaytrade> er bp 13:38

practice makes perfect

<Brutus> As I have said b4 you need money on the line to paractice, especially with a discretionary entry and exit method. Most pros will tell you sim trading ammounts to zilch for a beginner, look at all the sim traders posting $ on ET, anyway enough of this and back to trading 13:43

* NihabaAshi_away is now known as NihabaAshi 13:44

<RussellDaytrade> matter of opinion, how's yopur 'real' trading going. getting any traction? perhaps you would nenefit from doing more sim..you seem to have closed your mind, and it is likely costing you 13:45

<Brutus> :)) keep up the good work

<NihabaAshi> Shorts ER2 @ 826.10 -> small size

<RussellDaytrade> do it often enuf, it becomes repetitous, and engrained, and areas for improvements will surface 13:46

<NihabaAshi> Tight stop because its a high risk trade via shorting a big Down WRB.

Simply, it can bounce one point very easily against me.

No pattern signal...just intuition. 13:47

<Jul55> excellent intuition... 13:50

<NihabaAshi> Covered all ER2 Short @ 824.30 --> + 1.8 13:52

<base> nice

<RONDOE> nice traded-Nih

<NihabaAshi> Got 10 ticks more than the goal on that trade due to the additional volatility that showed up at the WRB.

* sep34_away is now known as sep34 14:09

<pdays> Long ER2 @ 822.8 14:17

Exited all ER2 Long @ 823.1 --> + 0.3

<Brutus> MArking the lows 10:08 and 12:14 Er should test that trend line 14:19

PA does indicate support at these levels 14:20

ES also just filled the gap from the 12th 14:22

<RussellDaytrade> did you trade your opinion about er breaking 827 ?

<Brutus> Sorry RD you are now on ignore I hope you find what you are looking for, maybe that cashed backer :) 14:25

<Awash> Brutus, good call on ES gap fill, i didn't have that area in my notes

<base> ER2 - the lowest price since 05/16. 14:26

<Brutus> thnx A

<RussellDaytrade> I'd place you on ignore too b, but you really provide so litle, that it doesn't make any differnece

dink 14:27

I guess you didn't back your opinion

lol

<Brutus> Certainly an area to take some profits on the ES 14:28

<Awash> agree

now, i'm waiting for a pullback to enter again

what area are you watching (in line at 1537)

<RussellDaytrade> likely a miracle today, I have 827 area as up targets 14:29

<Brutus> Question for me A? Gap fill gives a good bounce with NQ holding. You can enter and take partial profits and trail the last for a posible reversal but becareful of a 2nd test as it often breaks, more a short target than a reversal jmo 14:34

<Awash> agree 14:35

overall trend is still down, I would be playing for shorts, actually I am playing for shorts

i would usually get whacked trying to pick bottoms (reversal patterns) but that's because i'm not good at it 14:36

<Brutus> ER just hit TL 14:38

<Awash> IMHO, the bigger players pushing this market don't care too much about GAP fills

<jperl> ER2 @ -3rd STdDev 14:41

<Awash> $SPX touching it's 50sMA on daily chart

<RussellDaytrade> added long 14:42

<Awash> RDT, do you mind posting the complete trade information about your entry?

<RussellDaytrade> l 6 ap 826.2 added at 820.4 14:43

down 3400

<Awash> k

ES picking up a lot of volume here 14:45

<RussellDaytrade> that last buy was set this am, had actually forgotten about it, buying on wide scales today, just in case this type of action emerged 14:46

<Awash> k

http://futuresource.quote.com/charts/cha rts.jsp?s=ES&o=&a=D&z=650x450&d=LOW&b=CA NDLE&st=MA%2820%2C50%2C200%29%3BVOI%281% 2C1%29%3B

50sMA - Daily 14:47

<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) 14:58

<jperl> New 3rd STdDev @ 819.39

<Awash> another retest of LOD

<base> Well, ER2 is at the lowest price since 05/01.

* Looking up stick2it user info...

up hatredx user info...

up Bambam-77 user info...

<base> ER2 has broken it again. 15:03

I have to use a bigger chart to look for the last lower low.

<Brutus> [10:07:02] <Brutus> yep vix at 18, looks more like Feb 27th :) the days action looks very similar, just not in magnitude - yet 15:04

<base> 04/12 at 815.00

<jperl> Next stop 813.51....2 day -2nd StdDev 15:11

<ItalianSharp> welcome to the summer selloff!!!

<NihabaAshi> :) 15:12

<ItalianSharp> it was due

<RussellDaytrade> added another

<ItalianSharp> i actually expected it last week...gotta love this volatility

<jperl> ER2 hasn't touched its 1 year VWAP since march 19 15:13

<ItalianSharp> wow...this could either be a nice rebound area or if that vwap is broken...well, the beginning of a nice correction 15:14

<Brutus> 07/24/2007 15:08 DJ Brazil Stocks Extend Losses, Fall 2.3% On US Subprime Fears

Russell 2000 Index-RUT: Technical Alert: Support Levels - Quick note to keep the Russell 2000 200-day MA on the radar (805.54) and the 50-week MA at (792.17). Both are major supports and would signal a trend reversal in progress if broken on a sustained basis to the downside. from FOTW 15:15

<RussellDaytrade> it's the cut-n-paster

<NihabaAshi> Long ER2 @ 817.50 -> small size

Long ER2 @ 817.00 -> small size 15:16

<pat255> falls rapidly er 15:17

<jperl> ER2 1 year chart below....

http://charts.dacharts.com/2007-07-24/JP ERL_0127.jpg

note 2 things..... 15:18

1 year VWAP at 804.00....

PVP @ 831.40 with price action in between 15:19

<NihabaAshi> Exited 1/2 ER2 Long @ 818.20 --> + 1.2

<jperl> strong indicator that we will touch the VWAP......

<NihabaAshi> Exited Remainder ER2 Long @ 818.10 --> + 1.1

<jperl> not today but in the days to come

<NihabaAshi> That's a +0.6 and not a +1.1

Simply, I forgot to say that the second entry was an ADD. 15:20

<pat255> niha in this down trend u dont S any move up? 15:25

<werner> gn all 15:26

<RussellDaytrade> added another 15:29

<base> Broken again. 15:36

<Brutus> Long ES @ 1521 «« paper »» 15:39

Exited ES Long @ 1520 --> - 1 «« paper »»

<RussellDaytrade> paper trading doesn't mean zilch, remeber b, fkn hypocrit 15:40

<Brutus> 07/24/2007 15:43 Volatility Index S&P 500 Options-VIX up 2.27 to 19.27 15:48

<Awash> rdt, you still long?

<RussellDaytrade> si senor, l 8 ap 823.649, down 7500, buying wide scales...good thing thety're wide today 15:49

and relatrively small size, leaving myself plenty of firepower to gain on it when the time is more appropriate 15:50

could get worse before it gets better

<Awash> k 15:51

just manage it right

Question?

how do you manage the stress?

if any 15:52

<RussellDaytrade> after 2-3 days being down is when it begins to really become stressful, as long as I beleive I can find my way back home in a reasonable time, I trust my ability to do so.

<Awash> k 15:53

i'm calling it a day 15:57

good night all

* codehead_afk is now known as codehead 16:00

<RussellDaytrade> what a day, nice day for the shorts 16:04

1/3 the way back home, good enuf for now

<Brutus> Nationwide, it would take nine months on average to sell all the homes available for sale at the current rate. That is the highest supply of existing homes for sale since the 1990-1991 recession. One problem is the large number of adjustable rate mortgages (ARMs) resetting next year... In 2008, Bill says, "nearly $700 billion in ARMs are subject to reset, nearly three-quarters of which are subprimes." that's Bill Gross 16:05

<RussellDaytrade> you're about washed up b, I can feel it 16:06

<Brutus> 07/23/2007 15:42 DJ US Commodities: Gold Down On Dollar, Crude, Profit-Taking 16:07

<RussellDaytrade> this move should extend to 818.33, but under the circumsatnces, that was likley about it 16:08

<doublejay> bye 16:21

* Looking up Bambam-77 user info... 16:37

<RussellDaytrade> over halfway home 16:40

tomorrow will be a good day for me 16:41

* sep34 is now known as sep34_away 16:45

<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) 17:04

<NihabaAshi> Take care all and I'll get the "archives of the chat logs" updated to today sometime tonight at http://www.thestrategylab.com/RecentTrad es.htm 17:08

* DisconnectedSession Close: Tue Jul 24 17:17:51 2007 17:17

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)

WRB Analysis

Learn More

Sponsor:
Skype

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 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.