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#FuturesTrades July 26th Thursday 2007 Trade Log

 

Russell 2000 Emini ER2 Futures

Today Month Year
+22.50 +241.80 +1930.30
$2,250 $24,180 $193,030

Pattern Signals and Profit Targets

809.70 - 807.50

click on image to view actual size

 

Current Performance Record

Today's Key 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: Thu Jul 26 09:09:53 2007Session Ident: #futurestrades
* Now talking in #futurestrades09:09
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
* Looking up dv user info...09:10
<pat255> gm niha ...& others
<NihabaAshi> Hi pat255 and good morning all.
* subq market profile charts with point of control for today09:17
http://www.charthub.com/images/2007/07/2 6/er2_rth_mp.png
http://www.charthub.com/images/2007/07/2 6/es_rth_mp.png
http://www.charthub.com/images/2007/07/2 6/nq_rth_mp.png
<eminime68> Black Thursday
* subq http://www.charthub.com/images/2007/07/2 6/ym_rth_mp.png
<Brutus> Technical Moving Averages09:18

50-Day 200-Day

S&P 1521 1446

Dow 13585 12733

NASDAQ 2614 2483

http://finance.yahoo.com/currency/conver t?from=USD&to=JPY&amt=1&t=5d09:19

usd jpy collapsing09:20

Source: Fly on the wall09:24
<ripsboy> gm all...
<PapaJon> gm all09:25
<jperl> ER2 1 year chart with VWAP here....09:26
http://charts.dacharts.com/2007-07-26/JP ERL_0133.jpg
price action has dropped below the 1 year VWAP09:27
804.98
<base> GM traders09:28
<TraderSeattle> GM base
<jperl> The next developing volume peak is at 796.50
<pat255> jper does that mean prices head toward that peak?09:29
<jperl> You want price to go there and HOLD UP
<pat255> i c...ty
<jperl> otherwise we are heading into the toilet
<pat255> lol09:30
<base> :)
<Awash> good morning all
<doublejay> hi all09:31
<NihabaAshi>  Shorts ER2 @ 800.60 -> small size 09:35
2 only09:36
<eminitrader> guess u were right B...looks like summer selling is on09:38
<NihabaAshi> crazy price action again
<pat255> yeah & too fast for me ..dang
<Brutus> Crazy, 10 y yield at 4.8209:39
<TraderSeattle> vix over 20... wow09:40
<NihabaAshi>  Covered 1/2 ER2 Short @ 797.40 --> + 3.2 09:42
<pat255> vn
<NihabaAshi> Now you know why I only went small size in this price action...09:43
It's like a bull ride.
<eminitrader> :)
<PapaJon> no kiddin... my neck hurts
<eminitrader> how u doing pj ...long time09:44
<NihabaAshi>  Covered Remainder ER2 Short @ 799.80 --> + 0.8
  
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) 
  
<PapaJon> yah.. been extremely busy at jobsites
<eminitrader> lol
<PapaJon> not able to spend much time here
<eminitrader> u missed some good days09:45
<PapaJon> i know :(
<eminitrader> well if u r busy ..then its good news...moolah either way is coming in :)
<PapaJon> yep09:46

gotta go with the flow
<eminitrader> true
<ItalianSharp> folks fasten your seatbelts for the New Home Sales report at 10am
<PapaJon> else your just buttin ur head against the wall
<Brutus> 1000/1400 Jun New Home Sales

Overall Sales -1.6% -1.6%

1000/1400 Jun Conference Board Help-Wanted Index 27
<ItalianSharp> with the housing market being the major factor of a possible recession, IMO this number will be watched at closely09:47
<Brutus> careful 10 news may cause a volatility spike :)
<pat255> 1510 may be area to S? em
<ItalianSharp> i have a weird feeling that if this number comes out negative, markets are going to rally...dont ask me why
<eminitrader> 1493 on the SP ...
<Awash> yep, looks like we'll potentially test June lows09:48
<eminitrader> need to wait to relate it to the ES
<NihabaAshi> Nice counter-thrust09:49
<eminitrader> ls that 1404.50 in the ES A
sorry 1484.50
<Awash> 1492 from 6/2709:50
<eminitrader> no its 1494.50
k thatnks ...
<jperl> who ever said summer was dull?09:53
<PapaJon> lol
<jperl> 27 tick standard deviation on the ER2 and it is not even 10:00 yet09:57
<NihabaAshi> ER2 volatility dropping fast.
I'm expecting a volatility spike here soon.
Hopefully it results in a s/r zone09:58
<pat255> 2 mins to housing #s be careful

1 min09:59
<Brutus> 07/26/2007 10:00 *DJ US Jun New Home Sales -6.6% To 834,000 ; Consensus 900,00010:00
<Awash> what's you alls opinion of this PA?10:08
<werner> gm all10:09
<Brutus> Bullish someone's loading long on the ER10:10
<eminitrader>  Shorts ES @ 1513.25
Shorts ES @ 1514.25 -> Add 10:12
<NihabaAshi>  #FuturesTrades New Password -> New password beginning July 27th Friday has been posted @ http://thestrategylab.com/forum/index.ph p?board=39.0 10:13
<pat255> ty niha
<GoodMood> same from me10:14
<base> Thanks Niha
<Awash> Niha, in the past you've posted the Password,

you don't do this anymore?
<NihabaAshi> Awash...I just said its posted at the link.
???
<Awash> i know, but you generally post it in #FT10:15

i'll get it from the link
<NihabaAshi> Awash...look around the room...
<eminitrader>  Covered 1/3 ES Short @ 1512.25 --> + 2
<NihabaAshi> Many in here are not registered members.
<Awash> i understand10:16
<eminitrader> thas + 1.5 avg sell 1513.75
<NihabaAshi> Thus, if they want to continue using the room (it's free)...they need to register because the password goes into affect tomorrow.
<ItalianSharp> after this nice counterthrust by eminis, it looks like markets might have seen the bottom for a while...as long as today's lows hold of course
<NihabaAshi> Too many traders in here not posting their trades nor participating (LURKERS).

I'll fix that tomorrow :)
<base> :)10:17
<NihabaAshi>  #FuturesTrades Registration -> To register (it's free), just follow the instructions @ http://www.thestrategylab.com/FuturersTr adesChatRoom.htm
<TraderSeattle> Short NQ 13775 @ 9:16
<eminitrader>  Covered 1/2 ES Short @ 1510.25 --> + 3 10:18
<TraderSeattle> Cover NQ 13760 @ 918
<NihabaAshi>  #FuturesTrades Access Alert -> #FuturesTrades will be password protected tomorrow and only those that have registered will get access.
<pat255> may find some S here
L 10.75 paper
<eminitrader> holding 210:19

exit stop moved to breakeven ES @ 1513.75
<TraderSeattle> YM, not NQ
<pat255> out -1
<Awash> big down candle
<TraderSeattle> short ym 762 @ 91910:20
<eminitrader>  Covered ES Short @ 1508.75 --> + 4.5
<Awash>  Shorts ES @ 1509
<eminitrader> got my fiver :)
holding 1
<TraderSeattle> covered ym 741 @920
<NihabaAshi>  Shorts ER2 @ 803.80 -> small size 10:21
3 only
:(10:23
Too much of a fight...s/r zone trying to re-establish itself.10:24
Covered 2/3 ER2 Short @ 802.70 --> + 1.1 10:25
<pat255> dang missed 1510 S ..

do get up there
<base> EIA release is in five minutes.
<TraderSeattle> short ym 746 @ 924
<Awash> Pat, it was fast
<TraderSeattle> covert ym 735 @ 925
<Awash> i missed 12, 11 and 10
<pat255> <---- idiot take the entry & add10:26
<NihabaAshi> Got a WRB profit target for my remainder @ 801.70 at the minimum.
<eminitrader> pat ..llooking at ur missed # of trades..think its better to use limits on ur entries..
<pat255> yes em ..i need to do that ..
<eminitrader> this wld totally eliminate ur concern of missed trades
<NihabaAshi>  exit stop lowered ER2 @ 803.70
<eminitrader> unless ur trading on impulse..10:27

w/o a plan of action

lot of scalpers/momemtum traders do that
<pat255> well thot 1510 will hold but the tank took all that out ..
then 1510 got boken thru10:28
so my plan fell apart
<TraderSeattle> short ym 740 @ 927
<eminitrader> but thats when the plan shld start
<NihabaAshi>  exit stop lowered ER2 @ 803.20
<TraderSeattle> covered ym 733 @ 92810:29
<eminitrader> cause now u have an idea abt the flow...going down right
<pat255> yes ..
<TraderSeattle> sure is
<eminitrader> means when ever there is a spike from this low...there is going to be a retrace
<NihabaAshi> :(

Trailing Stop Hit ER2 @ 803.20 --> + 0.6
<eminitrader> to test the lows...so figure out the res and supp areas and ur set
<Awash>  Covered all ES Short @ 1508.75 --> + 14 10:30

wrong

+0.25
<eminitrader> it either breksthru supp and takes u out or it goes in ur direction
<TraderSeattle> long ym 733 @ 929

exit ym 756 @ 93010:31
<Awash>  Shorts ES @ 1200 «« testing »»
Covered all ES Short @ 1200 --> 0 «« testing »»
<TraderSeattle> short ym 751 @ 931
<Awash>  Shorts ES @ 1200
Covered all ES Short @ 1200 --> 0
<TraderSeattle> cover ym 748 @ 93210:32
<NihabaAshi>  Shorts ER2 @ 804.50 -> small size 10:33
2 only
<TraderSeattle> I use contrarian for chop, anyone else?
<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)10:34
<NihabaAshi> same profit target as prior trade if it breaks the current support area.
<eminitrader> sorry but ..what exactly do u mean TS
chop means mrkt is showing no direction10:35
whats the contrarian view ?
<TraderSeattle> holding a range but just up and down within that range, no direction as you said
<ItalianSharp> i guess he means selling breakouts and buying breakdowns
or at least that's what i perceived
<eminitrader> k gotya thx IS10:36
<ItalianSharp> as long as mkts are chopping, that's the best thing to do i guess
<eminitrader> k..
<TraderSeattle> it only works in dead zone, not in trends
or breakouts
<eminitrader> now it makes sense :)10:37
<NihabaAshi>  Covered 1/2 ER2 Short @ 801.70 --> + 2.8
<ItalianSharp> we are in crunch time...either markets hold or rebound here10:38
<NihabaAshi> Agree
<pat255> man back to lows?
<ItalianSharp> just not yet pat...
NQ is holding nicely so far
<losfer> jperl i was wondering what should i do if vwap below pvp but price above vwap10:39
<NihabaAshi> There's that strange volatility again...
<ItalianSharp> but it may take 3 mins before everything looks red
<NihabaAshi> Spiking through price levels with big spreads.
<eminitrader>  Covered Remainder ES Short @ 1506.25 --> + 7
<jperl> losfer....that
<eminime68> why do you think we have such strange spiking, Niha?10:40
<jperl> is a very difficult area to trade in.....
requires a discussion too long for here.....
<losfer> i am a newbie so i guess i should do nothing
<jperl> will discuss at www.traderslaboratory in a future thread
<losfer> ok
<jperl> Yes...if NEWBIE....stand aside10:41
<eminitrader> i.m done for the day guys ...will just watch ...good trading all
<TraderSeattle> wtg emini
<Brutus> Nice trades e
<eminitrader> thx TS
thx B
<TraderSeattle> here it is again, back in chop, contrarian10:42
<NihabaAshi> eminime68...it could be anything such as the market trying to find some footing during the price decline after new highs.
<ripsboy> That's some impressive trading emini...congrats10:43
<jperl> done for the morning.....trades here....
http://charts.dacharts.com/2007-07-26/JP ERL_0134.jpg
<Brutus> eminime look how light the ES order book is any any comparable volume moves it a few ticks
<NihabaAshi> However, usually when such type of price action occurs...
<jperl> Had a booboo at 10:09 short....
<NihabaAshi> The FED has its hands in it :(10:44
<jperl> forgot that I had set my safety stop at 30 ticks....

got nailed
<TraderSeattle> j, sometimes I forget to take out a stop form a last trade, ouch10:45
<Brutus> ES sitting on H&S neckline
<jperl> I usually keep a safety stop at 3 pts in case my system crashes....
isn't meant to be a trade exit.....10:46
On a day like today I should have moved it up a few points but forgot
<NihabaAshi> jperl...I do the same...keep a wide safety hard stop but trade my actual stop via a mental stop.
<jperl> Yes10:47
Was looking at something else on my desk when I got the audio signal
<eminime68> Niha, are you flat or still in the market?
<jperl> Anyway....10:48
<pat255> niha what hard stop u keep on er? when u have a monet
<NihabaAshi> I've decided to go for a WRB profit target on my remainder (adapting the trade due to new price info) @ 800.40 instead of 801.70
<jperl> morning was still positve
<TraderSeattle> long ym 13721 @ 947
<NihabaAshi> enimime...I still have one contract short from 804.50

Currently its trying hard to retrace.10:49
<TraderSeattle> exit ym 13736 @ 948
<NihabaAshi> :(

exit stop lowered ER2 @ 804.00

Covered ER2 Short @ 803.40 --> + 1.1 10:51

Reverse and Enter Long ER2 @ 803.40

I'm due for a break from trading here soon.10:54

Exited ER2 Long @ 802.90 --> - 0.5

Reverse and Enter Short ER2 @ 802.90

added 1 to make it a 2 contract position.10:55

Just lost my patience...10:58

If volatility shows up and pushes price below that 801.70 price area...I'll keep the Short10:59

Covered 1/2 ER2 Short @ 800.10 --> + 2.8 11:01
<TraderSeattle> missed that drop11:02
<szubaark> nice..good patience
<stick2it> Niha, you rockin, nice
<NihabaAshi> My broker hates me for the past month or so because I've maintained my profit level while reducing my overall contract size per trade.11:03

Thus, less commissions for them :)

I almost gave up on this Short around the 802.00 area when it was trying to get some footing (support).11:05
<losfer> jperl what's the rule when vwap equal pvp11:06
<TraderSeattle> short ym 13705 @ 1002
<jperl> when VWAP=PVP it means volume distribution is symmetric....11:07
If you are NEWBIE....
do nothing
* Awash_break is now known as Awash11:08
<jperl> Advanced trader can look for possible scalps when price action moves away from the VWAP
<TraderSeattle> cover ym 13655 @ 1008 +50
<NihabaAshi>  Covered Remainder ER2 Short @ 796.40 --> + 6.5
<jperl> Expectation is oscillations about VWAP (that what a symmetric market does)
<werner> nice ts
<TraderSeattle> nice Nih
<losfer> too bad because in nq we had vwap equal pvp and price below and whe had that nice drop
<Jul55> nice trade
<NihabaAshi> caught an big WRB exit
<Brutus> nice trade guys11:09
<base> nice
<NihabaAshi> I'm officially in "profit protection mode" for the remainder of the trading day.

Will only trade 1 contract size.

Reminder -> #FuturesTrades chat room trade logs are posted @ http://www.thestrategylab.com/RecentTrad es.htm (logs are current to July 25th Wednesday)11:11

That's a volatility spike WRB to the downside.11:17
<Brutus> -1470 tick11:21
07/26/2007 11:18 *DJ FTSE 100 Falls Below 6300 Level; Trades -2.6% At 6286.2011:23
<pat255> l 797.1 paper..11:24
<Brutus> 07/26/2007 11:19 *DJ FTSE 100 Falls Sharply On Credit Market, Earns Worries11:27
10 y at 4.81
<TraderSeattle> short ym 13652 @ 1024
<venedom> gm11:28
I arrive late and you sold the market...
<TraderSeattle> cover ym 13640 @ 102811:29
<Brutus> Approaching june lows11:32
<Awash> yes

the selling pressure has been relentless, what if we blast thru it11:33
<pat255> qqq 49 support gone...
<Brutus> Dax -2.2 %
<TraderSeattle> look out below11:34
dow down 232.6
<venedom> -239.0711:35

now
<TraderSeattle> happy for the trend down, any trend better for me than flat
<venedom> esignal stalled?

anyine having problem with esignal?11:36
<PapaJon> is fine here V11:37
<venedom> ty
<PapaJon> yw
<Brutus> 07/26/2007 11:35 *DJ Dollar Drops Below Y119 As US Stocks Tumble11:40
<werner> maybe v shape reversal11:41
<Brutus> What was the news about NYSE curbs and what are they?11:50
<NihabaAshi>  Long ER2 @ 793.70 -> small size
1 only
Exited ER2 Long @ 794.10 --> + 0.4 11:52
<pat255> nice rejection of 1500 es..
<NihabaAshi> If Gold joins in the small bounce here with Oil...we should easily see ER2 at 795.0011:55
If not...it will be a good battle to keep from going lower.
<werner> 1e res ym @ 682 2e @ 712
<NihabaAshi> Gold trying to find support (ticking back upwards)11:56
<TraderSeattle> long ym 1052 @ 62111:57
<werner> nice tail @ ym 60'12:01
<TraderSeattle> rev short ym 1102 @ 66012:03
<NihabaAshi>  Shorts ER2 @ 795.00 -> small size 12:07
1 only
volatility spike12:09
<TraderSeattle> yep

will exit if this bar prints green12:10
<NihabaAshi>  Covered ER2 Short @ 794.20 --> + 0.8 12:12
<TraderSeattle> ym resis at 620?

supp12:13
<werner> mm
?
<NihabaAshi>  Long ER2 @ 793.40 -> small size 12:15

Poor entry...will take another break from trading.
<TraderSeattle> rev long ym 1116 @ 62512:16
622
<werner> very nice ts
<NihabaAshi>  Exited ER2 Long @ 794.10 --> + 0.7
<werner> do you only trade ym TS?12:20
<TraderSeattle> werner: yes at this time, my acct is just enough for ym, I have to draw profits for med bills.12:21
<werner> ok thnx
<TraderSeattlle> out ym -1812:24
* Looking up inzy user info...12:25

up Bambam-77 user info...12:26
<TraderSeattlle> chop12:28
<TraderSeattle> Dang landline sets off my wifi12:30
<venedom>  Long ER2 @ 791 -> small size 12:33
Exited all ER2 Long @ 791.5 --> + 0.5 12:34
<TraderSeattle> dow is down 30012:37
<venedom> I feel afternoon come back dow less than 100 at close just afeeling
<TraderSeattle> as long as there's a trend, I am happy12:38
<venedom> the trend is your friend goes the saying Trader
Niha quiet today???12:39
<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)12:40
<TraderSeattle> rev ym @ 561 1140 +42
<venedom> what is rev?12:41
<TraderSeattle> ven: I was short and I reversed position to a long
<venedom> ok

why dont u ise the script?12:42
<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={c7147 7e1-0d97-40f2-b9b7-78c3da1f27fd}
<TraderSeattle> havent used irc for 10 years... not sure how but cant learn during market
<venedom> ok its easier for everyone to undertand go to Ninja page later
<TraderSeattle> last time on irc, no colors... just b/w text12:43

rev short 1144 @ 550 -1112:44
<venedom> last century
<TraderSeattle> 1996
<venedom> bush father president?
<TraderSeattle> no, clinton
<venedom> lol
now you retire from msft and trading?12:46
<TraderSeattle> lol, sure, as soon as my med bills are paid I can have a savings acct again
* codehead_afk is now known as codehead12:47
<pat255> back to ofice ty all later
<TraderSeattle> rev long ym 1150 @ 549 +112:50
<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={fe149 c3c-1305-4c74-9790-60faf5b7c0e2}12:52
<TraderSeattle> ym bumped head on 60012:59
will rev if this bar prints red13:00
<venedom> did your charts were black and white?
<TraderSeattle> you mean in 96?13:01
<venedom> kidding
<TraderSeattle> lol, charts, what charts?
charts online in 96 were slow and html, updated 1x/minute13:02
rev short ym 1202 @ 568 +19
<venedom> u r all the time in?13:03
<TraderSeattle> trend has slowed, will break if I see chop
<venedom> how many contract if you dont mind13:04
<TraderSeattle> 1, big time eh? as I said, small acct, med bills take profits.13:05
<Brutus> 07/26/2007 13:05 Volatility Index S&P 500 Options-VIX up 3.61 to 21.67 - Volatility Index S&P 500 Options-VIX up 3.61 to 21.67 10-day moving average is 16.9813:09
<venedom> lunch time here c u later friends keep killing it13:11
<TraderSeattle> ven, later13:12
<venedom> short squeeze?13:14
<NihabaAshi> It's got the support for such13:16
<TraderSeattle> out ym 1208 @ 596 -26, chop, net 119, taking lunch.
1214, not 120813:19
If I were in now during chop, I would be contrarian13:24
<Brutus> 07/26/2007 13:10 *DJ OIL FUTURES: Nymex Crude Turns Negative, Below $7613:28
<NihabaAshi> :(13:37
Tru tp get a fo;; at 790.90 but no fil :(13:38
Ooops...
wrong keys
Meant to say I tried to get a fill at 790.90 for a Long position but no fill.
Too late now unless price action changes to support a Long position.13:39
Long ER2 @ 790.60 -> small size
:)13:40
Now lets see if I can get my target before ER2 does one of those weird retraces back down.
<TraderSeattle> dow -31513:41
<NihabaAshi>  Exited ER2 Long @ 792.80 --> + 2.2 13:45
<TraderSeattle> wtg
<NihabaAshi> got 8 ticks more than I planned :)
<Alejandro> hello13:49
<NihabaAshi> Hi Alejandro...welcome.13:50
<Alejandro> thank you
<TraderSeattle> Hola
<Alejandro> hola

sorry my ba english, i have a qestion

bad
<NihabaAshi> Alejandro...#FuturesTrades will be password protected tomorrow until further notice.
<Alejandro> whats is the best momento to roll a contract?13:51
<NihabaAshi> Thus, make sure you register (it's free) for access to the password via following the instructions @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm
<Alejandro> ok
<NihabaAshi> [13:51] <Alejandro> whats is the best momento to roll a contract?13:52
<Alejandro> yes
<NihabaAshi> I don't understand your question.
Can you say it differently.
<Alejandro> a contract expiries in august
<NihabaAshi> Ok
Which futures trading instrument are you talking about ?13:53
<Alejandro> you would buy the contract of august or of the october?

for the example LE
<NihabaAshi> Are you swing trading or position trading?
What's the full name of LE.
<Alejandro> swing is a short time?

live cattle13:54
<NihabaAshi> Day trading is short term.
<Alejandro> for various months

no day trading
<NihabaAshi> Swing is like an overnight position to several trading days.
<Alejandro> hold the position
<NihabaAshi> Position trading is like several trading days up to several months.
<Alejandro> the prices of two contracts will be the same at the expiring date?13:55
<NihabaAshi> I personally don't consider Long term trades (more than a year) as position trades.
<Alejandro> the qestion is buy contract august or october
<NihabaAshi> For example, I've been Short Forex UsdCdn for many years since above 1.55
<Alejandro> several months
<NihabaAshi> It's a Long term trade to me13:56
<Alejandro> the market say the time of the trade

no intraday

several months, four

the price converges?
<NihabaAshi> To answer your question about the expiration...13:57
<Alejandro> the price will be the same in both contracts?
<NihabaAshi> I would buy October if your trying to decide which to buy (August or the new contract of October).
<Alejandro> the price is a little more of october13:58
<NihabaAshi> Alejandro...are in Chicao?
Chicago
<Alejandro> yes
<NihabaAshi> Suburbs or city ?13:59
<Alejandro> cbot

me?
<NihabaAshi> Yes
<Alejandro> no, i am european
<NihabaAshi> Ok
<Alejandro> new contract you recomemd me then

ok, thak you14:00
<NihabaAshi> TraderSeattle...where at in Seattle are you?
Ale...no problem
<TraderSeattle> Camano Island, 90 minutes North of downtown
<NihabaAshi> Ahh...your the "wait in the long lines" type to catch the Ferry :)14:01
<TraderSeattle> lol, the ferries here are great, except on holidays, then a snail is a faster ride

ferries are faster than the freeways now, this area is sooooooo far behind in highway capacity14:03
<PapaJon> my daughter lives in Edmonds14:04
i love it up there
<TraderSeattle> I lived in Lynnwood before moving out, Edmonds is nice, near the water
<PapaJon> we'
<NihabaAshi> TS...you must love the difference in time zone for trading the Eminis :)14:05

Your done by 1:30pm est

Meant 1:15pm est

pst
<TraderSeattle> yep!
<werner> reboot14:06
<PapaJon> we've considered buying some land out on kingston, but have yet to get all our ducks in a row14:07
had a phone call
<TraderSeattle> If the economy here continues, Kingston should boom in 5 years
<PapaJon> i know.. is a high probability for such
* sep34 is now known as sep34_away
<TraderSeattle> But except for Seattle, RE values are leveling...14:08
<Littman> WOW -344 DOW JONES14:09
<TraderSeattle> Lit, yes... when does the circuit breaker kick in, is it 450?
<werner> just a test14:15
<TraderSeattle> FOund it... if the DOW falls 10%, the NYSE can stop trading for an hour. Long way to go for that yet...
<werner>  Shorts ES @ 491

test test lol
<TraderSeattle> 1
<Awash> non-stop selling14:17
<werner> try again14:20
test
Shorts YM @ 491
<base> The limit for CME eminis is 5% down.
<werner> thats better
<Awash> better, give me an example of how that works14:21

better = base
<base> There are many different limis, check http://www.cme.com/trading/prd/equity/pr icelimits.html
<TraderSeattle> dow -376
<Awash> base, once the market hits 5% down for a day on ES, the market stops trading?14:24
<Brutus> 10 year at 4.76
<base> Awash: Is seems to be more complicated. The limits and stops are unique for different securities. The stop, as I understand it, may come in place intradaily and the very first one will come at 5% down and will last 10 minutes or until 02:30 PM.14:26
<Awash> k
<Brutus> 07/26/2007 14:33 *DJ OIL FUTURES: Nymex Sep Crude 93C Lower At $74.95/Bbl14:34
<base> Here is the description of the first limit for CME index eminis. I think I did not understand it right. Copy follows ...14:37

5% 1 Down only. Once a limit offer has been established, trading can occur at or above this limit for 10 2 minutes or until 2:30 p.m. CT. 3 Trading will halt for two minutes if the primary futures contract is limit offer at the end of the 10 2 minutes or at 2:30 p.m. CT 3 . Trading will resume with the 10% limit in effect.

Next limits are 10, 15 and 20%, but do not require me to understand how the rules are apllied. :)14:38
<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)14:43
<venedom> back from lunch and still going down14:48
<TraderSeattle> yep14:51
dow -44014:52
<jperl> done for today.....trades here....14:53

http://charts.dacharts.com/2007-07-26/JP ERL_0135.jpg
<Brutus>  USD/JPY Yen 118.56-62 -1.60 %14:55
<ItalianSharp> wow, YM put up a 85pt move in less than 10mins14:56

gotta love this volatility
<TraderSeattle> sure did Ital
<venedom> dow -359
<ItalianSharp> yeah...i am wondering where it's gonna close when some of those shorts are going to cover14:57
<venedom> anyone have a sharing though here?15:06
<werner> don't now here15:10
<Awash>  Shorts ES @ 1484.50 15:15

Covered all ES Short @ 1485.50 --> - 1
<venedom> is the bull mkt over?15:19
  
WRB Analysis
  
<Awash> no

some buying coming in late in the session

20 points off the low15:20

for ES
<Brutus>  Shorts ES @ 1492 «« paper »» 15:24
Covered ES Short @ 1494 --> - 2 «« paper »» 15:25
<Awash> looks like they jumped the 50% retracement area of 149315:30
<base> Yes, and for ER2, exactly there is also S2.15:36
<venedom>  Long ER2 @ 793.50 15:52

exit stop set ER2 @ 792.5 15:53

Exited all ER2 Long @ 796 --> + 2.5 15:54

nice end of day15:55
<Awash> nice
taking off
<venedom> cu all tomorrow16:00

great day
<Brutus> About tha same volume today as Feb 27th16:02
<NihabaAshi>  #FuturesTrades New Password -> New password beginning July 27th Friday has been posted @ http://thestrategylab.com/forum/index.ph p?board=39.0 16:16
<werner>  Long YM @ 540 «« testing »» 16:17
exit stop set YM @ 530 «« testing »»
Exited all YM Long @ 545 --> + 5 «« testing »» 16:18
buy limit to enter long YM @ 540 «« testing »» 16:21
Long YM @ 540 «« testing »»
Exited YM Long @ 545 --> + 5 «« testing »» 16:22
lol16:23
gn all
<doublejay> bye
<Brutus> My blotter16:26
http://www.elitetrader.com/vb/attachment .php?s=&postid=1545827
<NihabaAshi> The new password has been posted and if anyone has problems in gaining access to #FuturesTrades tomorrow...16:31

Contact me at questions@thestrategylab.com
<Brutus> Niha16:35
<NihabaAshi> Yes ?
<Brutus> Do you mind me posting the Fly On the wall summaries ?16:36
<NihabaAshi> What's that ?
<Brutus> Its like the pre market commentry or after maket wrap up16:37
<NihabaAshi> No problem
<Brutus> It give me an idea of what happened during the day
OK thanks/ESR16:38
* DisconnectedSession Close: Thu Jul 26 16:45:12 200716:45
  
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