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#FuturesTrades July 24th Thursday 2008 Trade Log

 

Russell 2000 Emini ER2 Futures

Today Month Year
+0.00 +156.00 +2042.60
$0 $15,600 $204,260

Not Applicable

(on vacation)

No Trades (on vacation)

click on image to view actual size

 

Current Performance Record

Supply/Demand Change of the Day

Profit/Loss Statement

 

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
  
Session Start: Thu Jul 24 00:00:00 2008Session Ident: #futurestrades

#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.htm08:38
<lisa> anyone trade gold in room?08:54
<+silo> morning09:13
<DJ> gm
<+lisa> anyone trade gold in room09:15
<+DJ> not me, lisa
i'm fairly new here
some folks are on vacation
many are trading er and most es09:16
<ripsboy> morning all...09:20
<starglazer> market wants nice open
<drt> gm09:28
<+DJ> gm
<PapaJon> gm all09:30
<Awash> good morning all09:36
<kantor> good morning all09:37
<+starglazer>  Long ES @ 1279.25
Exited all ES Long @ 1278 --> - 1.25 09:41
<ItalianSharp_away> morning all09:46
* ItalianSharp_away is now known as ItalianSharp
<robert>  Shorts ES @ 78.75 «« paper »» 09:49
<szubaark_Gone>  Buys ES @ 1276.50 «« paper »» 09:51
<+robert>  Covered all ES Short @ 75.75 --> + 3 «« paper »»
<+starglazer> home sales in 8mins09:52
* szubaark_Gone is now known as szubaark09:53
<+starglazer>  Long ES @ 1277 09:59
Exited all ES Long @ 1276 --> - 1 10:01
<Spartan>  Long NQ @ 1837 «« paper »» 10:14
<+Spartan>  Exited all NQ Long @ 1842 --> + 5 «« paper »» 10:35
<+szubaark>  Exited all Long ES at 1274 --> - 2.5 «« paper »» 10:36

Shorts ES @ 1274 «« paper »»
* Spartan is now known as Spartan_Away
<pdays>  Shorts ES @ 1274.0 10:39
<JimL> Spartan, nice execution! When you get a chance what signal triggered your nq trade (entry & exit)?
<@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.htm10:41
* codehead_afk is now known as codehead10:55
<+pdays>  Covered all ES Short @ 1273.25 --> + 0.75 10:58
<+szubaark>  Covered all Short ES at 1268.50 --> + 5.5 «« paper »» 11:13
<+Awash> vn nice Szu
<+szubaark> thanks... i needed that trade11:14
<+Awash> and reverse that losing long into a short
<+szubaark> yup, that Long was too aggressive
<+Awash> you dumped it right at the pullback zone for shorts11:15

nice

brb
<+silo> hehe slotrader11:33
:)
good name :)11:34
Long ER2 @ 711.60 «« paper »» 11:40
<tim_a1> please, dont all speak at once11:54
<+silo>  Exited all ER2 Long @ 713.60 --> + 2 «« paper »» 12:01
Exited all ER2 Long @ 713.60 --> + 2 «« paper »»
oops
did it twice haha
only one trade
so +2
only
* Spartan_Away is now known as Spartan12:23
<+Spartan>  Long NQ @ 1837.75 «« paper »»
Exited all NQ Long @ 1834 --> - 3.75 «« paper »» 12:29
<+robert>  Long ES @ 66.25 «« paper »» 12:35

Exited all ES Long @ 66.50 --> + 0.25 «« paper »» 12:45
<+silo>  Long ER2 @ 711.20 «« paper »» 12:46
<@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.htm12:47
<Awash> looks like we had some above average volume roll in at the ES LOD12:50
<+Awash> here comes the retest13:03

lower highs are visible confirming downtrend still intact13:04
<+tim_a1> seems like a lot of today's activity has been about oil's resolution of the 125 level13:07
<+Awash> i have a slight different opinion on that13:09

crude hit 125 yesterday and was about to test the 125 area on Tuesday13:10

if you pull up a daily chart on the $SPX you see two trends, an intermediate downtrend and an short-term uptrend. The short-term uptrend off the lows of 1200 has been pulling back and when price tapped 1292 yesterday we hit the 38% retracement of the overall intermediate trend (May High to July Low)13:11
<+tim_a1> yesterday's dow topped within 2 points of the 200 week ma13:13
<+Awash> additionally, the 1292 area was also resistance from the July high. Yesterday when we immediately hit 1292 area we sold off convincingly, those were short sellers putting on new short positions
<+robert>  Long ES @ 65.50 «« paper »»
<startrader> 123.50 is 62% of move from May 2 low and low of May 15th, inside day on gcl. 123.52 today's low on a double bottom.
<+Awash> today is just typical sell off to push market in direction of intermediate trend. Crude can climb five dollars but i still would think price would tank13:14
<+tim_a1> through this bear rally indu & oil have been almost tick for tick inverse13:15
<+Awash> agree, but will you always find oil consistently moving exactly as $SPX on inverse?13:16
<+tim_a1> no - in previous bear rally, they were synchronized13:17
<+Awash>  you wrote "[12:13] <tim_a1> yesterday's dow topped within 2 points of the 200 week ma" good call
<+tim_a1> i consider it the fed ultra-liquidity rally
<+Awash>  $DJI also hit 38% retracement of overall intermediate downtrend yesterday
<+tim_a1> thanks, but it's only a good call if it's made prior to the event, i'll take good observation though13:18
  
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, intermarket analysis with a money back guaranteed policy...click here.
   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) 
  
<+robert>  Exited ES Long @ 66 --> + 0.5 «« paper »» 13:19
Reverse and Enter Short ES @ 66 «« paper »»
<+Awash> cool

just FYI, whenever the market is in a trend, and it reverses, always look for a pullback, you can bank on these two areas first (38% & then 50% retracement areas). Always sell the first pullback as it has a high probability of success13:21
<+robert>  Covered ES Short @ 67 --> - 1 «« paper »»
Reverse and Enter Long ES @ 67 «« paper »»
<+Awash> that way you'll be ready prior to it occuring

a lot of pro traders has been speculating this before it has happened13:23

http://www.doubledownmedia.com/videos/ index.html

listen to 7/23 & 7/22
<+Spartan>  Long ES @ 1267 «« paper »» 13:25
<+robert>  Long ES @ 65.50 -> Add «« paper »» 13:28
<+Spartan>  Long ES @ 1267 -> Add «« paper »» 13:29
<+Awash> narrow range (small chop) but lower highs are prevalent possible signal for continued downtrend, maybe we consolidate a bit before we start to move again after 1pm CST
<+silo>  Long ER2 @ 711.50 -> Add «« paper »» 13:31
<+startrader> nq trading hard off 50% of day...13:33
<+Spartan>  Exited all ES Long @ 1265 --> - 4 «« paper »» 13:38
:(
Long NQ @ 1840 «« paper »» 13:41
<+szubaark> Spartan, this week the Chop has been Brutal14:00
<+startrader> es new lows and nq hanging tough...
<+szubaark> doesnt matter if you go Long or Short you still gonna Lose
<+startrader> benefit of no financials in the nq.
63 handle on es looks like a tough nut to crack.14:01
could lift all boats here if it does not.14:02
<+szubaark> just going lower, rick by tick14:04
<+JimL> if nq joins this move dwn, may yld some good short pts14:09
<+Awash>  buy limit to cover ES short @ 1245 14:14
<+robert>  Long ES @ 60.50 -> Add «« paper »» 14:15
<+startrader> looking at 57-58 for longs on es.14:17
<+szubaark> NQ intrday chart looks like Forex chart LOL14:24
<+startrader>  Long ES @ 1259.50 14:37
<+szubaark>  Buys ES @ 1261.25 «« paper »» 14:41
<+startrader>  Long ES @ 1259.25 -> Add 14:43
<@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.htm14:50
<+startrader> nq db and es at good support14:56
<+robert>  Exited 1/2 ES Long @ 63.25 +1 --> + 0 + 63.25 +1 - 60.50 «« paper »» 15:05
<+startrader>  Exited 1/2 ES Long @ 1263 --> + 3.75
<+silo> shorting here15:25
<+szubaark>  Exited all Long ES at 1255.50 --> - 5.75 «« paper »» 15:30

Shorts ES @ 1255.50 «« paper »»

TANK!!15:32

Covered all Short ES at 1257.25 --> - 1.75 «« paper »» 15:33

Buys ES @ 1257.25 «« paper »»

Exited all Long ES at 1255 --> - 2.25 «« paper »» 15:34

Buys ES @ 1255 «« paper »»

Shorts ES @ 1255 «« paper »»

TANK!!15:35

c'mon 1230!!15:36
<+silo> i think your yellings are working :)
keep it up
:)
<+szubaark> i need the frikin' POINTS
<+silo> NQ no longer supporting the price
:)
this will be big
if it does go down
<+Awash> Still holding Short 8 Contracts from the past few sesssion, my average is 1272.50, my price target is 1247, initially i posted it as 1245 but hopefully i get filled overnight at that level15:52


if so, i will post the entry tomorrow

if so, i will post the EXIT tomorrow
<+silo> out short15:55
<+szubaark> real or paper?
<+silo> me?15:57
paper
i'll let yo know when i go live
<+szubaark>  Covered all Short ES at 1252.25 --> + 2.75 «« paper »» 16:04
<+Awash> good night all, i'm done for today16:13
<+szubaark> see u16:14
<+Awash> will see you all tomorrow. later szu
<@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: Fri Jul 25 00:00:00 2008

16:56
  
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#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.

  

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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

"The point of this whole exercise is to make money. Everything else is just conversation." --Jonathan Hoenig

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