#FuturesTrades August 1st Friday 2008 Trade Log

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.

Also, to read behind the scenes details about the trades posted below such as explanation of my position size, stop management, chart interval choice et cetera...click here.

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	Learn More
	Session Start: Fri Aug 01 08:22:29 2008Session Ident: #FuturesTrades
* Now	talking in #FuturesTrades	08:22
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<Awash>	good morning all	08:27
<KN-SR>	gm
<+KN-SR>	ready for the report ?
	:)
<+Awash>	yepper
	you?	08:28
<+KN-SR>	i have a very slow connection
	see how it goes
	brb
<+Awash>	k
	less than three minutes
<+KN-SR>	2min 18 sec
	after gms 15 b dax should be the safe one to trade i guess	08:29
<+Awash>	Shorts ES @ 1271	08:30
	jobs down 51,000	08:32
<+KN-SR>	as expected	08:33
<+Awash>	less than expected	08:34
	but we can go any where from here
<+KN-SR>	:)	08:35
<+Awash>	i'm probably going to grab another hour of sleep before the open
	what time is it where you're located?Session Close: Fri Aug 01 08:36:12 2008
	Session Start: Fri Aug 01 08:36:12 2008Session Ident: #FuturesTrades
* Disconnected		08:36
* Attempting	to rejoin channel #FuturesTrades	08:37
* Rejoined	channel #FuturesTrades
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm
<+KN-SR>	brb
<+Awash>	k	08:38
	going back to sleep, got my fill
* Awash	is now known as Awash_sleep
<palmer>	wha fill was that
<+Awash_sleep>	fill on ES Short, i already posted	08:39
	be back in an hour	08:40
<DJ>	gm	09:08
<tzar>	gm	09:20
<anglo>	up or down KN?	09:24
* anglo	is now known as angl	09:25
<@NihabaAshi>	Good Morning all...back from my month of vacation.	09:26
<+tzar>	woohoo
	NihabaAshi!
<T-stop>	gm
<+tzar>	how was your vacation
	where did you go
<+T-stop>	welcome back
<+DJ>	welcome back!	09:27
<drt>	gm	09:28
<+tzar>	dj, i think NihabaAshi just came to say hi and then went back on his vacation
<+DJ>	OK	09:30
<silo>	Shorts ER2 @ 716.40 «« paper »»	09:32
<+silo>	Covered all ER2 Short @ 713.30 --> + 3.1 «« paper »»	09:34
<werner>	gm all	09:35
<ripsboy>	gm all...	09:36
<szubaark>	Shorts ES @ 1266.25 «« paper »»	09:38
<+szubaark>	Covered all Short ES at 1266.25 --> 0 «« paper »»	09:42
<+silo>	Shorts ER2 @ 711.20 -> small size «« paper »»	09:43
<@NihabaAshi>	Vacation was good except for 1 week when my back went out.	09:44
<+silo>	greedy short :)
<manto>	gm all
<+manto>	hi N
<@NihabaAshi>	Hi manto	09:45
<PapaJon>	back injury seems to always make ur day
* Awash_sleep	is now known as Awash
<+Awash>	good morning all
<+silo>	er2, dax approaching bottom of a wrb s/r zone
<ItalianSharp>	Hi Niha, nice to see you back
<+silo>	oops
<+Awash>	Welcome back Niha
<+szubaark>	Buys ES @ 1263 «« paper »»
<+silo>	Covered all ER2 Short @ 710 --> + 1.2 «« paper »»	09:46
	out to be safe
	hey KN are you there?
<+Awash>	Gap close from Tuesday 7/29	09:47
<+ItalianSharp>	Niha, what kind of back problem do you have?
	I've worked into the "spinal" field for a few years, so if you have any questions just ask	09:48
<+silo>	oh damn	09:50
	yo had spinal problem?
<@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
<@NihabaAshi>	ItalianSharp...I have an appointment for an MRI in one month to determine what the problem is.	09:52
	Shorts ER2 @ 706.00 -> medium size
<+Awash>	ES tapped S1, non-stop selling, lets see if buyers come in	09:55
* +subq	--market profile charts fot today-- http://www.charthub.com/chart/search/mpc hart
<@NihabaAshi>	Covered ER2 Short @ 706.20 --> - 0.2
	Long ER2 @ 705.80 -> medium size	09:56
	Exited 3/4 ER2 Long @ 707.10 --> + 1.3	09:59
<+Awash>	Did anyone play the jobs data?
<@NihabaAshi>	I did	10:00
<+T-stop>	ISM # soon
<+silo>	the 8.30 news?	10:01
<@NihabaAshi>	Exited Remainder ER2 Long @ 708.30 --> + 2.5
<+Awash>	si
<+silo>	yeah i did
	i had a short
<+Awash>	awesome, ditto	10:02
<+silo>	:P
<+szubaark>	Exited all Long ES at 1261 --> - 2 «« paper »»
<@NihabaAshi>	SPAMMER ALERT: If anybody in here receives an unsolicited private message...please send me a quick pm via double clicking on my name to tell me whom it was...thanks !!!
<+silo>	wow this channel is getting big	10:03
	who are all these people :)
<+szubaark>	Shorts ES @ 1258.25 «« paper »»
<+silo>	dj, baxwill... did you bring friends in here or something? haha :D
<@NihabaAshi>	Shorts ER2 @ 708.30 -> small size
<Trader>	it used to be bigger
<+silo>	oh really?	10:04
<+Trader>	the point is that only a few contribute
	look at the + sign on any given day
<+silo>	sure
	a lot were just observing i'm sure	10:05
	i just place trades here so i can have a record :)
<+DJ>	Silo, I have no friends
<+silo>	of my trades each day
<@NihabaAshi>	Covered ER2 Short @ 709.70 --> - 1.4
	Reverse and Enter Long ER2 @ 709.70
<+DJ>	;)
<+silo>	instead of writing them down
<+Trader>	sorry but I have to leave 4 a while
<+DJ>	seriously, I brought no one
<+silo>	hehe
<+DJ>	made nice contacts here, tho	10:06
<@NihabaAshi>	Exited ER2 Long @ 709.00 --> - 0.7
<+szubaark>	Weak Support area
<@NihabaAshi>	PASSWORD ALERT: I'll be a activating the password today at the close due to two spammeers and too many lurkers !!!
<+DJ>	Szu, on ER or ES?
<@NihabaAshi>	Thus, only register members will be able to get in tomorrow.	10:07
<+szubaark>	ES
<baxwill>	hi silo, just here to watch u in action
<+silo>	ahaha
	i hope i did not disappoint
<+KN-SR>	finally	10:08
<+Awash>	non-stop selling
<+KN-SR>	:)
<+baxwill>	no learning a bunch
<+KN-SR>	gm
<Widgetman>	we almost got ya 1292 KN
<+baxwill>	and now I have a plus sign, thats exciting
<+KN-SR>	:)
	have a very good fill this morning.........and a slow but very good trade	10:09
<+szubaark>	Covered all Short ES at 1257 --> + 1.25 «« paper »»	10:16
<+DJ>	Good for you, Baxwill
<+szubaark>	stalling here
<+DJ>	Niha, how do we register?
<pdays>	Long YM @ 12279	10:17
<+pdays>	Exited all YM Long @ 11285 --> - 994	10:18
	Exited all YM Long @ 12285 --> + 6
<+szubaark>	Shorts ES @ 1255.75 «« paper »»	10:21
	Covered all Short ES at 1255.75 --> 0 «« paper »»	10:25
	Buys ES @ 1256 «« paper »»	10:26
	Exited all Long ES at 1258 --> + 2 «« paper »»	10:32
<Nesi>	Long ER2 @ 710.00	10:33
<+DJ>	triple top formation er	10:34
<+szubaark>	Shorts ES @ 1257 «« paper »»	10:36
<KmartTrader>	good morning	10:38
<+Nesi>	Long ER2 @ 711.00 -> Add
	Exited all ER2 Long @ 711.80 --> + 2.6	10:39
<@NihabaAshi>	PASSWORD ALERT: I'll be a activating the password today at the close due to two spammeers and too many lurkers !!!	10:40
<+manto>	quite a p/b
<@NihabaAshi>	To join...follow the instructions @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm
<+manto>	sdang missed the L on er..:9	10:42
<+DJ>	short er 712	10:45
	out 711.40	10:46
<@NihabaAshi>	http://thestrategylab.com/forum/index.ph p?board=39.0
	Password is ALWAYS posted at that link.
<+manto>	ty
<@NihabaAshi>	If you can't get into that link...that means you have not applied for membership (its free).	10:47
	To gain access to that link...follow the instructions at http://www.thestrategylab.com/FuturesTra desChatRoom.htm
<+Nesi>	Shorts ER2 @ 714.00	10:49
<+DJ>	short er 713.80	10:52
<+Nesi>	Shorts ER2 @ 713.50 -> Add
<+DJ>	out 713.2	10:53
<+Nesi>	Covered ER2 Short @ 714.00 --> 0	10:55
	Reverse and Enter Long ER2 @ 714.00
<+DJ>	chop	10:57
<+Nesi>	Exited all ER2 Long @ 714.70 --> + 1.9	11:00
	Shorts ER2 @ 713.60	11:02
<+manto>	vn nesi ..	11:06
<+DJ>	NICE
<+manto>	look at 2 min chart on er what a nice w for the move up	11:07
<+Awash>	great trade Nesi
<+Nesi>	Covered all ER2 Short @ 711.10 --> + 2.5	11:08
<+DJ>	VN	11:10
	Good day for you
<+Nesi>	Shorts ER2 @ 711.00	11:11
	Shorts ER2 @ 711.50 -> Add	11:12
	Covered all ER2 Short @ 712.00 --> - 1.5	11:19
	Shorts ER2 @ 711.90	11:22
<+DJ>	NICE
	support at 710.90	11:23
	Er touched that area several times this morning	11:25
	since 8a PST
	if it breaks in short term, I am shorting ER
	that level, 710.90, is at 38.2 on my FIB draw	11:26
	as a ref point only
	714.20 Double top poss	11:30
	714.90 upper level	11:31
<+Nesi>	Shorts ER2 @ 714.40 -> Add	11:32
<JimL>	721.50 is the 1.62 fib exp target	11:33
<+JimL>	& that's up @ ystrdy's highs & 5th top...	11:34
<+Nesi>	feels toppy to me	11:36
<+JimL>	ER2: on the way there, u have 1.27=717.5, 719=1.382, 720.5=1.500 as targets	11:38
<@NihabaAshi>	Long ER2 @ 717.80 -> medium size	11:39
<+manto>	L 718 ...let me c..	11:40
<@NihabaAshi>	Exited all ER2 Long @ 717.90 --> + 0.1
	chased it above my key range
<+manto>	out -.1	11:41
<+Nesi>	Shorts ER2 @ 717.90 -> Add
<+manto>	oil drop ...	11:42
* codehead_afk	is now known as codehead	11:45
<@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	11:53
<@NihabaAshi>	Long ER2 @ 717.00 -> small size	11:56
	Early today I wanted to keep my small size to one contract only because it was an unsure price action...	11:57
	I'm slowly increasing my position size after being away from the market for 1 month.	11:58
<+DJ>	walk then run
<@NihabaAshi>	3 contracts on this small size instead of 1
	Hopefully by mid next week I'm ready to do large position size trading again.	11:59
	Exited ER2 Long @ 716.00 --> - 1	12:02
	Shorts ER2 @ 715.20 -> medium size	12:03
	Covered all ER2 Short @ 715.10 --> + 0.1	12:05
	:(
	No guts...no glory
	Pin Ball Machine price action	12:07
<+KN-SR>	done
	this is not going anywhere	12:08
<@NihabaAshi>	My Eurex data stopped cold for about 6 - 7 minutes :(	12:11
	Long ER2 @ 716.80 -> small size	12:13
	same tough price area of a prior Long
	Key price zone is 716.80 - 715.10	12:14
	ER2 having problems again in staying above 716.80	12:15
	Exited ER2 Long @ 715.70 --> - 1.1	12:17
	Shorts ER2 @ 715.20 -> medium size	12:19
<+DJ>	double bottom at 714.30 area	12:21
<@NihabaAshi>	nice profit target that double bottom
	Unfortunately the family is calling me because its lunch time.	12:22
<+DJ>	good scalp, Niha
	:)
	enjoy
<@NihabaAshi>	Not a scalp...was intended for a long hold but I need tonow change the goal of the trade.
<+DJ>	y	12:23
<@NihabaAshi>	If I can catch a WRB target...I'll take it even if it's only a few ticks
<+DJ>	on my 60 min chart, I see a triple bottom support
	at about 708 or so	12:24
	I run those 60 min charts parallel
<+KN-SR>	http://thestrategylab.com/forum/index.ph p?board=3.0	12:26
	done with the unemployment report.......
	take care all.. good trading
<@NihabaAshi>	Bye KN-SR	12:27
<+KN-SR>	nice to see u again NihabaAshi.....only u can make all these ppl awake