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#FuturesTrades July 29th Tuesday 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

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Session Start: Tue Jul 29 00:00:00 2008Session Ident: #FuturesTrades

<@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 07:05

<kantor> GM All 09:15

<ItalianSharp> morning all 09:16

<drt> gm 09:31

<tzar> gm everyone

<szubaark> hi,where u been?

<PapaJon> gm all 09:33

<silo> Shorts ER2 @ 700.50 «« paper »»

<+silo> Covered all ER2 Short @ gagewgew --> + 700.50 - gagewgew «« paper »»

ewrong trade

supposed to be a long

Long ER2 @ 700.50 «« paper »»

<+szubaark> make up your mind lol 09:35

<+silo> clicked the wrong thing on the script

<Awash> morning all

<+szubaark> gm

<+Awash> Shorts ES @ 1241.50

<Trader> good morning 09:36

<+silo> Exited all ER2 Long @ 702 --> + 1.5 «« paper »»

Shorts ER2 @ 701.20 «« paper »» 09:37

<+Awash> buy limit to cover ES short @ 1236

<+silo> Shorts ER2 @ 700.60 -> Add «« paper »» 09:40

<+szubaark> Shorts ES @ 1238.25 «« paper »» 09:41

<+silo> Covered 1/2 ER2 Short @ 701.70 --> - 1.1 «« paper »» 09:42

Covered all ER2 Short @ 702.60 --> - 1.4 «« paper »»

<+szubaark> Covered all Short ES at 1240.25 --> - 2 «« paper »» 09:46

Shorts ES @ 1238 «« paper »»

<Nesi> Long ER2 @ 701.40 09:50

<+Nesi> Long ER2 @ 701.30 -> Add 09:52

<+szubaark> Covered all Short ES at 1240 --> - 2 «« paper »»

<+silo> Long ER2 @ 702.40 «« paper »» 09:53

<+szubaark> Buys ES @ 1240.75 «« paper »»

<+Trader> what is you S/L Awash?

<+silo> Long ER2 @ 703 -> Add «« paper »» 09:54

<werner> hi all 09:55

* anglo_learningMode is now known as anglo 09:58

<+szubaark> Exited all Long ES at 1243 --> + 2.25 «« paper »» 09:59

news in 1minute

<+werner> tx szu

<+Awash> Shorts ES @ 1244.50 -> Add 10:01

<+silo> Exited all ER2 Long @ 705.50 --> + 5.6 «« paper »»

<+szubaark> Shorts ES @ 1244.50 «« paper »»

<+Awash> s/l? 10:04

<+Nesi> Exited 1/2 ER2 Long @ 705.50 --> + 4.2 10:06

Exited all ER2 Long @ 708.20 --> + 6.8 10:08

<+Awash> going to add all the way up to 1252 10:09

<+Trader> stop loss 10:10

<+Awash> above PDH

<+Trader> thanks

<+Awash> way above PDH

<+Trader> that was 1260

<+Nesi> Long ER2 @ 707.40 10:11

<+Awash> in line to sell at 50

<+Nesi> Long ER2 @ 708.50 -> Add

<+silo> might be at a resistance here 10:19

60min chart

er2, nq

<+tzar> Shorts ES @ 1247.75 «« paper »»

not paper

buy limit to cover ES short @ 1246 10:23

<+szubaark> Covered all Short ES at 1247.75 --> - 3.25 «« paper »» 10:36

<+tzar> heya szu 10:37

<+szubaark> Buys ES @ 1247.75 «« paper »»

<+tzar> got it 10:38

* codehead_afk is now known as codehead 10:39

* +starglazer - [ is away ] [ Reason: Activate IdleAway: 300 min ] [ Time: 03:39:23 ] [ Pager: on ] [ Log: on ]

<+Nesi> Long ER2 @ 709.00 -> Add 10:41

<+szubaark> exit stop moved to breakeven ES @ 1247.75 «« paper »»

Exited all Long ES at 1247.75 --> 0 «« paper »» 10:42

Shorts ES @ 1247.50 «« paper »»

<+Awash> no fill at 50 10:43

<+Nesi> Long ER2 @ 709.50 -> Add 10:45

<+Awash> Shorts ES @ 1249 -> Add 10:47

* subq if you missed market profile charts --- http://www.charthub.com/chart/search/mpc hart 10:53

<+Nesi> Exited all ER2 Long @ 710.00 --> + 3.1 11:06

<+tzar> very well done Nesi

<+Awash> i wasn't able to get another add at 1251-52 area 11:09

currently my average is 1244 11:10

<+Trader> buy es @1247 paper 11:11

<@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 11:14

<+Awash> so far, weak advance on this push to retest highs, 11:28

first possible sign that momentum is slowing, but we'll need to watch longer 11:29

<+szubaark> tough chart to trade, as it just keeps creeping higher 11:46

<+Awash> Shorts ES @ 1252 -> Add

Szu, just do the opposite of what i'm doing 11:48

<+Trader> :-)) 11:50

<+Awash> going to do one more add here, to push my average up a bit 11:51

so far average is 1246.75

<+Trader> if it goes above PDH and assuming you have about 8 contracts, that is a $6,000 loss....... too risky 12:00

<+Awash> it's worth the risk in my book 12:01

i'm at ten contracts

trying to put on a couple more to get average to 1247.25 12:02

Shorts ES @ 1252 -> Add

got my average to 1247.50

<+szubaark> i just want a frikin pullback

<Alturus> what does PDH stand for?

<+Awash> prior day high

<+Alturus> thnx 12:03

<+Trader> I used to use this method Awash but failed miserably. I hope you have better entry points and reasons than mine. 12:05

<+Awash> that's why i have to scale into the position 12:06

it helps me tremendously, price is only a few points from my average

<+Trader> I assume you think that the market will go down. If you see that it is going up, why not just go in the direction of the trend? 12:07

<+Awash> because that's not the signal my system is giving me 12:08

my signal is calling for a SHORT

regardless if the market is rallying to the moon

i only care about executing what my system calls for, even in the face of heat 12:09

it's all about probabilities for me

but no doubt i can be wrong, i don't care about being wrong (or right)

i just care about following the rules and executing in the face of extreme uncertainty 12:10

<+Trader> NQ is in a very narrow range since 10AM....... 12:15

but internals are positive

<+szubaark> just slow, controlled, upcreep 12:16

<+silo> Long ER2 @ 712.30 -> large size «« paper »» 12:28

come on nq 12:31

<+szubaark> we going down lol 12:36

<+silo> we'll see 12:37

<+Trader> DIVE DIVE DIVE NQ 12:38

or maybe not

<+silo> Exited all ER2 Long @ 710.10 --> - 2.2 «« paper »» 12:40

<+szubaark> :(

<+silo> Long ER2 @ 710.60 «« paper »» 12:41

Exited ER2 Long @ 710 --> - 0.6 «« paper »» 12:43

Reverse and Enter Short ER2 @ 710 «« paper »»

Covered all ER2 Short @ 710.30 --> - 0.3 «« paper »» 12:46

<+szubaark> TANK! 13:03

* Awash is now known as Awash_lunch 13:06

<+Nesi> Long ER2 @ 711.30 13:13

Long ER2 @ 711.80 -> Add 13:20

<@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

<+szubaark> topping action but not going down,weird

<+silo> Long ER2 @ 713.20 «« paper »» 13:29

<+szubaark> could be a fakeout here 13:30

Covered all Short ES at 1255 --> - 7.5 «« paper »» 13:33

<+silo> dont jinx me

:)

<+szubaark> Buys ES @ 1255 «« paper »» 13:34

<+silo> voodoo man

<+szubaark> no frikin pullbacks

bastids just going UPPPP

<+Nesi> Exited all ER2 Long @ 715.00 --> + 6.9

<+silo> Exited all ER2 Long @ 715.40 --> + 2.2 «« paper »» 13:36

<+szubaark> Exited all Long ES at 1255.25 --> + 0.25 «« paper »» 13:41

Shorts ES @ 1255.25 «« paper »»

geez,, what a firkin day

TANK!!!

<codehead> YM hit within a tick of .382 retracement

<+Trader> which time frame 13:42

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)

<+codehead> on daily... high of Thursay thru today's low

11323 is .382

hit 11322

<+silo> Shorts ER2 @ 714.40 -> medium size «« paper »» 13:47

<Andy> Shorts ES @ 1256.25 13:56

<+ItalianSharp> right now i wouldn't touch shorts with a ten-foot pole

this thing is creeping higher and higher

<+silo> how about a 11 footer

<+ItalianSharp> god knows where it's going to turn

<+silo> :)

<+ItalianSharp> :)

* +silo sends him a 11 foot poking stick

<+ItalianSharp> ES should find some serious resistance in the 60s 13:57

<+Trader> I agree

ItalianSharp (IS) you said that you are trading WRB. can you explain in general term how do you implement them? 13:58

<+ItalianSharp> mmm...

that's a tough question...i suggest you visit Nihaba's website at http://thestrategylab.com/forum/index.php?board=43.0 and read all the free stuff posted there

that will give you a general idea of what my trading style is 13:59

<+Andy> Covered all ES Short @ 1256.75 --> - 0.5

<+ItalianSharp> the website provides plenty of info Trader

if there is anything you don't understand, i recommend you email Nihaba for clarifications...i dont think i am allowed to discuss STR stuff in this room 14:00

:(

<+Trader> STR? 14:01

<+silo> Shorts ER2 @ 713.30 -> Add «« paper »» 14:07

* Awash_lunch is now known as Awash 14:09

<+silo> Shorts ER2 @ 712.50 -> Add «« paper »» 14:13

Covered all ER2 Short @ 713 --> + 0.9 «« paper »» 14:20

Shorts ER2 @ 712 «« paper »» 14:36

intuition

<+Trader> it is very quiet here 14:37

<+szubaark> marker is quiet

<+Trader> how about someone tell us how they backtest a trading setup?

is by a computer program or manually or forward testing over a period of time or walkforward or or or 14:38

* +starglazer - [ is away ] [ Reason: Activate IdleAway: 300 min ] [ Time: 03:39:23 ] [ Pager: on ] [ Log: on ] 14:39

<+Trader> we are hitting R1 on all pairs

<+silo> if you guys look at thte 3min chart... er2, es, nq 14:40

you'll see long shadows on all the candles 14:41

5 consecutive ones or more

<+Trader> we are also close to yesterday's lows, if that means anything..... 14:42

<+silo> 60min chart going down 14:45

<+codehead> had a 5.8 earthquake 10 mins ago--whew 14:53

LA area 14:54

<+starglazer> just use ninjatrader or some software to backtest 14:58

you have to program it though.. since ninjatrader allows 1min historical charts its great 14:59

but then backtest software dont count slippage 15:02

ER2 has slippage 15:03

<+silo> Covered all ER2 Short @ 711.90 --> + 0.1 «« paper »» 15:16

have to bounce

later guys

<+szubaark> Covered all Short ES at 1255 --> + 0.25 «« paper »» 15:17

Buys ES @ 1255 «« paper »»

<+szubaark> Exited all Long ES at 1258 --> + 3 «« paper »» 15:33

Shorts ES @ 1258 «« paper »»

Covered all Short ES at 1262 --> - 4 «« paper »» 15:55

<+Awash> Still short from earlier, will hold overnight and watch tomorrow how we trade near PDH's, average price at 1247.50 15:58

<+werner> gn all 16:07

<kubes> does anyone know whats the symbol for dow full size IB? 16:22

<+kubes> in IB

dead as usual 16:26

anone :)

anyone

??

!! 16:27

humm no one is talking :) 16:29

<@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 17:26

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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

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