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#FuturesTrades July 31st Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+38.70	+296.70	+1985.20
$3,870	$29,670	$198,520

Pattern Signals and Profit Targets

798.40 - 792.10

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: Tue Jul 31 09:32:16 2007Session Ident: #FuturesTrades

* Now talking in #FuturesTrades 09:32

* DisconnectedSession Close: Tue Jul 31 09:33:16 2007 09:33

Session Start: Tue Jul 31 09:35:00 2007Session Ident: #FuturesTrades

* Now talking in #FuturesTrades 09:35

<NihabaAshi> Long ER2 @ 795.10 -> large size 09:41

9 contracts

Long ER2 @ 793.00 -> Add 09:48

There's a problem with the log-in for traders on Othernet service that's preventing many from logging on or preventing many from seeing each other messages. 09:50

Thus, I'm currently in #FuturesTrades all by myself even though you may be able to see my trades being posted. 09:52

Exited 1/4 ER2 Long @ 794.20 --> + 1.2 09:53

Long ER2 @ 794.30 -> Add 09:54

Please send me a quick message to questions@thestrategylab.com if your having log-in problems. 09:55

Or that you think your the only ones in the room. 09:56

By the way, I currently have a key s/r zone of 797.20 - 795.90 09:59

Exited 1/4 ER2 Long @ 796.80 --> + 2.5 10:00

Exited ER2 Long @ 797.40 --> + 2.3 10:02

Holding 3 contracts

Exited ER2 Long @ 798.10 --> + 3 10:03

Holding 1 contract

:)

Hopefully this price action can stay above the key s/r zone. 10:04

exit stop raised ER2 @ 795.50 10:05

exit stop raised ER2 @ 795.90 10:06

My trailing stop is at the lower price area of that key s/r zone. 10:08

Trailing Stop Hit ER2 @ 795.90 --> + 0.8 10:14

:(

I haven't gotten any emails so all must be able to see me even though I can't see you :) 10:19

Will do a reboot to see if that fixes my Othernet "visibility" problems.

I'm officially in profit protection mode which means I'm small size only for the remainder of the trading day :) 10:20

* DisconnectedSession Close: Tue Jul 31 10:25:21 2007 10:25

Session Start: Tue Jul 31 10:34:51 2007Session Ident: #futurestrades

* Now talking in #futurestrades 10:34

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

<NihabaAshi> Hi all...I had some connection problems. 10:35

<eminime68> morning

<asuni> gm niha

<NihabaAshi> Anyone else in here have connection problems ?

<szubaark> fine here

<asuni> not here

<pat255> ditto 10:36

<Awash> fine here Niha

<jperl> trades here..... don't like the price action this morning... 10:37

http://charts.dacharts.com/2007-07-31/JP ERL_016.jpg

<PapaJon> agree jperl.. i havent taken any trades at all yet 10:39

<jperl> yes...the two trades I took just never developed 10:40

<NihabaAshi> Here's what my #FuturesTrades log shows and you can see that it was weird that I was in a "ghost room" server on the Othernet. 10:41

http://www.thestrategylab.com/images/073 107FuturesTradesChatLog.png

It happens sometimes like once every few months :(

The reboot cleared (fixed) the problem. 10:42

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 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)

<pat255> dang how does it go tehere?

<NihabaAshi> There's many different servers on the Othernet. 10:43

If anyone logs in and finds themself in the room "all by themselves"...

Reboot (turn off your computer and then turn it back on) to clear (fix) the problem.

<Brutus> I re started MIRC and that fixed it at my end 10:44

<base> It is called split, server split or netsplit. It happens when the particular IRC network is divided into two independent parts due to connection difficulties, maintenance, ... 10:45

<intowin> Long ES @ 1484 10:47

add

<base> You have not to reboot, just change server or reconnect. irc.othernet.org is resolved to a different IP everytime, so there is a big chance you will connect to another server after reconnect. Or you can use /server <particular server>

<NihabaAshi> Ahhh... 10:48

Thanks Brutus...that explains everything and I've just added the server change solution to my personal IRC text file.

<base> - Warren.MS.US.Othernet.org [0] 10:51

- RA> Athens.GA.US.Othernet.org [1]

- Chicago.IL.US.Othernet.org

- RA> Firewall.IL.US.Othernet.org [2]

- Fremont.CA.US.Othernet.org

<Brutus> 07/31/2007 10:49 DJ OIL FUTURES: Nymex Crude Rises Above $77.50; Eyes EIA Data 10:52

<NihabaAshi> ER2 wants to fill the overnight GAP

It just did.

<base> No problem. That is how actual servers' map looks like. When one server drop its connection, the whole network is splitted into two parts. Different people on same channel on each side. /server <one of them> can be solution

Hm, nice move. 10:53

<Bambam-77> gap filled trgt hit flat done for the day

<intowin> Long ES @ 1482 10:55

last add gaps filled

<Brutus> Bambam [09:34:02] <Bambam-77> stp 93 what happened to the stop? 10:58

<NihabaAshi> Long ER2 @ 788.30 -> small size 11:00

2 contracts only

Exited all ER2 Long @ 788.70 --> + 0.4 11:02

<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) 11:10

<intowin> Exited 1/2 ES Long @ 1488 --> + 6 11:49

+4 on average

<pat255> cn

vn

<intowin> looking for hod on rest

<szubaark> nice into 11:56

<pdays> Shorts ER2 @ 794.2

<intowin> anybody here from Emini yet? I guess the +14 last week he took a vacation? 11:58

<szubaark> nope..was wondering same thing

<NihabaAshi> Yeah...he's probably in th Bahamas or something...spending the profit. 11:59

<intowin> be

be stop that is

exit stop set ES @ 1484 12:00

<pdays> Covered all ER2 Short @ 793.2 --> + 1 12:32

<Awash> Shorts ES @ 1488 12:37

<NihabaAshi> Shorts ER2 @ 793.40 -> small size 12:54

2 only as an intuition trade

dumping\ 12:56

Covered all ER2 Short @ 793.40 --> 0 12:57

Saw something that really wasn't there :(

Shorts ER2 @ 794.20 -> small size 12:58

2 only and will lower my contract size down to 1 for the remainder of the day. 12:59

<Brutus> 07/31/2007 12:35 DJ OIL FUTURES: Nymex Crude Hits $78/Bbl; 1-Yr High

<NihabaAshi> Stop runner for those with stops just a few ticks above 794.90 13:02

<intowin> I still think up but will take profits and play the breakout play.. /ea 1488

Exited all ES Long @ 1488 --> + 6

+4 on average

<Brutus> VN IT NQ seems to be holding to the bottom of its range. 13:03

<NihabaAshi> Shorts ER2 @ 750.00 -> Add

at 3 now

:( 13:05

<intowin> nasdaq non participation has me concerned on longs 13:06

<NihabaAshi> Covered 1/3 ER2 Short @ 793.70 --> - 43.7 13:07

Ooops :) 13:08

That ADD @ 13:03am should have said 795.00 instead of 750.00 :)

<Awash> Covered all ES Short @ 1787.75 --> - 299.75 13:09

sorry 13:10

Covered all ES Short @ 1487.75 --> + 0.25

my stop got tagged

<intowin> Long ES @ 1490 13:12

<NihabaAshi> Covered ER2 Short @ 795.70 --> - 1.5

Reverse and Enter Long ER2 @ 795.70

Sneaky volatility and I reversed a little too late going into it... 13:13

Should have reversed around 795.40

<Ondra> Good afternoon All.I am from Europa. 13:14

<NihabaAshi> Exited all ER2 Long @ 796.00 --> + 0.3 13:15

Hi Ondra

<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) 13:16

<NihabaAshi> Shorts ER2 @ 795.30 -> small size 13:23

1 only

Covered ER2 Short @ 793.00 --> + 2.3 13:28

<pat255> vn catch niha

<NihabaAshi> :) 13:29

<Brutus> 07/31/2007 13:30 *DJ Poole: More Normal Market Conditions Will Reemerge 13:30

07/31/2007 13:30 *DJ Poole: Dangerous For Central Bank To Ignore Money Growth

NQ at lOD 13:32

<NihabaAshi> Looks like "Mr. Poole" is the reason for the volatility.

I don't show any speeches today :( 13:33

Big stop runner 13:42

Long ER2 @ 791.30 -> small size 13:43

1 only

<intowin> Long ES @ 1484

add

<NihabaAshi> I got cut a little from catching that "falling knife" :) 13:46

Exited ER2 Long @ 791.80 --> + 0.5 13:48

<szubaark> where from in Europa? 13:50

<NihabaAshi> Long ER2 @ 791.30 -> small size

<szubaark> [13:18] <Ondra> Good afternoon All.I am from Europa.

<NihabaAshi> I think he's gone.

<szubaark> lol

<NihabaAshi> He just dropped in to say a quick hello and to test the password for access to #FuturesTrades 13:51

Exited ER2 Long @ 790.30 --> - 1

Reverse and Enter Short ER2 @ 790.30

<szubaark> intowin.. ES low test looks like a good buy

<intowin> yep this is suxing wind

<NihabaAshi> That's not a stop runner...

Easy position reversal decision. 13:52

<intowin> been looking for a bounce but hasnt come to get out

<Brutus> YM NQ new lows, dont see any bull in there

<szubaark> right Brutus.. Selling pullbacks (retracements) seems like way to go now 13:53

<NihabaAshi> Covered ER2 Short @ 790.00 --> + 0.3

ER2 put in a Hammer line...warning for me to dump my short 13:54

<pat255> yes niha .. 13:55

<szubaark> so did ES

Bounce off lows good for 3 ES points so far

<intowin> no real reason for my thinking but I think we will end with a push up. Hopefully get out unscathed 13:58

1487 is be 13:59

<NihabaAshi> Long ER2 @ 792.20 -> small size 14:05

1 only

Exited ER2 Long @ 791.40 --> - 0.8 14:09

Reverse and Enter Short ER2 @ 791.40

Good position reversal with some nice clues via the shrinking volatility prior to the push down. 14:11

Volatility declining again. 14:12

Tightning up my trailing stop just in case it bounce fast back upwards. 14:13

Covered ER2 Short @ 791.10 --> + 0.3 14:14

<intowin> I am going to start a 1488 chant

maybe that will do it

<NihabaAshi> :)

<szubaark> ill get the drum roll 14:15

<intowin> now that your out nih

<Brutus> Huge resistance zone to get to 1488, similar situation to all eminis 14:19

<intowin> you doubt the power of my chant?

<Brutus> Not saying it cant just pointing it out

<NihabaAshi> Long ER2 @ 792.90 -> small size

<Brutus> Please share, so we can all join 14:20

<intowin> lol

<szubaark> Niha looks like u caught a WRB on that one

<NihabaAshi> Will leave this trade alone and see what it does...

<szubaark> Shorts ES @ 1482 «« paper »» 14:21

<NihabaAshi> It has a big s/r zone...if hit...will be a big loss on the contract.

<szubaark> Covered all Short ES at 1480 --> + 2 «« paper »»

Volatility spiked helped me out (WRB) 14:22

ES re-test of lows.. its getting intresting now

<NihabaAshi> I hate to close a big profitable day with a losing trade... 14:23

Will put on my lucky baseball hat. 14:24

<intowin> same here.. lol

was doing nice till the last two longs

still think they will end up +1

well hmm 14:25

<Brutus> Silightly bullish divergences and price action

* Retrieving #futurestrades modes...

<NihabaAshi> ER2 volatility dropping fast... 14:28

I'm expecting a volatility spike here soon.

:(

Its spiking downwards. 14:29

<intowin> new subprime fallout earlier may be part of the problem 14:30

<Brutus> 07/31/2007 14:30 *DJ OIL FUTURES: Nymex Crude Ends At New Record Close $78.18/Bbl

<NihabaAshi> Exited ER2 Long @ 789.00 --> - 3.9 14:31

Reverse and Enter Short ER2 @ 789.00

:(

Covered ER2 Short @ 788.90 --> + 0.1 14:32

Long ER2 @ 788.20 -> small size 14:33

Exited ER2 Long @ 787.20 --> - 1 14:34

Reverse and Enter Short ER2 @ 787.20

<intowin> Exited all ES Long @ 1475 --> - 9 14:36

<NihabaAshi> Covered ER2 Short @ 786.60 --> + 0.6

:(

<intowin> no more swing plays for me

yep that one bit

that overnight push up just had me sold on an up day 14:37

<NihabaAshi> I was very bullish myself at the Open

Shorts ER2 @ 785.10 -> small size 14:38

<intowin> no better way to learn a lesson than with the pocket book. I always used tight stops before

got out just in time man

<NihabaAshi> Geesh...bouncing a lot but still finding a way to drop its pants lower.

:( 14:39

Geeesh.

Tough to hold these shorts even though the price action is dropping since 1:15pm est. 14:40

Covered ER2 Short @ 784.50 --> + 0.6

Shorts ER2 @ 785.80 -> small size 14:42

:( 14:43

Covered ER2 Short @ 786.50 --> - 0.7 14:45

Reverse and Enter Long ER2 @ 786.50

<Brutus> NQ below yest Low 14:47

ER and NQ have had roll reversal 14:48

<NihabaAshi> Yesterday I said I wanted a bronco ride...I got a few this afternoon. 14:49

:)

This thing can easily buck up to 790.00 14:50

Hopefully not without me. 14:51

Exited ER2 Long @ 786.50 --> 0 14:52

Long ER2 @ 785.90 -> small size 14:54

Trying again for that 790.00 price target

:( 14:55

Exited ER2 Long @ 786.00 --> + 0.1

Long ER2 @ 786.50 -> small size 14:56

Volatility dropping fast... 14:57

Which way will she blow?

Hopefully the spike occurs upwards. 14:58

<jperl> Done for today.....trades here...

http://charts.dacharts.com/2007-07-31/JP ERL_017.jpg 14:59

WRB Analysis

Learn More

<NihabaAshi> tightning my stop again just in case it does one of those sudden retraces. 15:01

:( 15:04

<intowin> last trade short er 788 15:05

* sep34 is now known as sep34_away 15:13

<NihabaAshi> Exited ER2 Long @ 787.00 --> + 0.5 15:15

:(

Long ER2 @ 785.80 -> small size 15:18

Trying one more time for that 790.00 price target

exit stop set ER2 @ 784.80 15:19

<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)

<NihabaAshi> Initially had a wide stop of 782.00

Need to do something...be back later and will post a late trade result if my stop is hit. 15:20

* NihabaAshi is now known as Nihabaashi_away

<Nihabaashi_away> If 788.00 is hit...initial stop becomes a 786.00 trailing stop. 15:21

exit stop raised ER2 @ 786.00 15:22

<intowin> out 788..70 15:24

-.70

done 15:25

cya guys will lick some wounds tonight be back in the afternoon tommorow 15:26

<Awash> had major connection issue 15:36

issues

* Nihabaashi_away is now known as NihabaAshi 15:41

<NihabaAshi> Just got back...

Wow...who let out the air after hitting the 790.00 price area :) 15:42

Late trade post...

Exited ER2 Long @ 790.00 --> + 4.2

<Brutus> Nice trade and target N 15:43

<NihabaAshi> I kepted hammering at that 790.00 magnet area.

Now that we have new intraday lows...

I no longer have any support for any Long positions.

Thus, quick trades only with 3 - 5 tick targets. 15:44

<werner> gn all

<NihabaAshi> Shorts ER2 @ 781.10 -> small size 15:45

Covered ER2 Short @ 780.00 --> + 1.1 15:46

ER2 trying to "hammer line" out a bottom but it has no support for such. 15:47

Shorts ER2 @ 783.20 -> small size 15:51

<Awash> 30 point range in ES

<NihabaAshi> Easy position reversal signal into a Long if I'm wrong.

Geesh...what happen there ?

Bronco ride. 15:52

I'm done and a great trading day to end the month of July trading. 15:56

Covered ER2 Short @ 779.10 --> + 4.1

* sep34_away is now known as sep34 16:06

* sep34 is now known as sep34_away 16:12

<Brutus> US STOCKS TURN LOWER AS CREDIT MARKET CONCERNS RETURN 16:20

U.S. stocks turn sharply lower as concerns about credit markets and bad-home loans resurface with news that American Home Mortgage Investment might liquidate its assets after failing to meet margin calls. The Dow Jones Industrial Average fell more than 100 points, after earlier rising more than 120 points after General Motors reported a return to profitability.

============ U.S. MARKETS ACTION =========== 16:21

DJIA down 114.13 points to 13244.18

NASDAQ down 30.78 points to 2552.50

S&P 500 down 15.31 points to 1458.60

10-year T-note up 12/32 at 98 01/32 yield 4.753

NYMEX Spot Crude up $1.38 at $78.21/bbl at close

Dollar/Euro down 0.0015 at 1.3682

US SPENDING, PRICE GAUGE DIP IN JUNE Personal consumption grows just 0.1%, while a price gauge slips into Fed's preferred range. Separately, employment cost index rises slightly in 2Q and consumer confidence rises to a 6-year high. Construction spending decreases 0.3%, and the Chicago PMI falls below expectations.

NYMEX CRUDE CLOSES AT RECORD ABOVE $78 Crude oil futures close at a record $78.18 a barrel, smashing the previous high by more than $1 a barrel on expectations of a fall in U.S. inventories in a key weekly inventory report and as concerns about a potential demand slump ease.

Source: DJN

<doublejay> bye for today 16:22

* DisconnectedSession Close: Tue Jul 31 19:29:24 2007 19:29

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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.

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.