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#FuturesTrades August 3rd Friday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+20.20	+46.40	+2031.60
$2,020	$4,640	$203,160

Pattern Signals and Profit Targets

788.00 - 786.00

Profit Targets Only

781.20 - 777.90

click on image to view actual size

Current Performance Record

Current 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: Fri Aug 03 09:19:53 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:19

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

<jperl> 1yr ER2 chart with VWAP data here.... 09:22

http://charts.dacharts.com/2007-08-03/JP ERL_0110.jpg

ER2 will open above the PVP at 782.00 (red line) 09:23

* sep34_away is now known as sep34 09:24

<jperl> expectation is to move back to the VWAP @ 805.95 (blue line)

<Awash> morning all 09:29

<PapaJon> gm all

<Pepe> gm all 09:33

<ripsboy> gm all

<NihabaAshi> Good morning all 09:36

<Pepe> Hi Nihaba

<Brutus> Good mornin

<base> GM traders 09:45

<Pepe> I think, it will be very volatility day :) 09:46

* codehead_afk is now known as codehead 09:48

<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) 09:52

<Brutus> 08/03/2007 09:54 GEN: July ISM Services released on 8/3 at 10:00 AM; consensus 58.5 09:55

Long ES @ 1472 «« paper »» 09:57

Exited all ES Long @ 1472 --> 0 «« paper »» 09:58

<NihabaAshi> Long ER2 @ 780.10 -> small size 10:02

2 only 10:03

Exited 1/2 ER2 Long @ 781.20 --> + 1.1

Exited Remainder ER2 Long @ 780.20 --> + 0.1 10:04

<werner> gm all 10:13

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)

<Pepe> When I want write here my Entry and Exit, how I active the colour text? 10:20

for example ..red text for entry

<base> Pepe: You have to instal a script into your IRC client (mIRC). Ask NihabaAshi for URL. 10:21

Colors can be used by Ctrl+k (I think) in mIRC, but the script is made exactly for posting the trades in a correct form. The installation is pretty simple. 10:23

<Pepe> base thank 10:25

<base> You are welcome.

<Pepe> test

<NihabaAshi> Pepe...you already have access to the #FuturesTrades script and how to post trades... 10:26

You probably didn't visit the link I sent you.

Here's the link again...

<jperl> done trading for now....trades here.... 10:27

<NihabaAshi> Actually you did visit the link because the script and password are at the same link :)

<jperl> http://charts.dacharts.com/2007-08-03/JP ERL_0111.jpg

<NihabaAshi> http://thestrategylab.com/forum/index.ph p?board=39.0

Shorts ER2 @ 778.10 -> small size 10:33

2 only and may reverse my position 10:34

Don't like my entry area

Covered all ER2 Short @ 777.60 --> + 0.5 10:35

That entry should have bee around 779.10 but I'm still a little slow after yesterday's day off from the markets. 10:36

<Brutus> Looks like ES will bounce 10+ points from this level 10:37

<NihabaAshi> Long ER2 @ 778.40 -> small size 10:38

1 only

Exited ER2 Long @ 778.50 --> + 0.1 10:39

That trade didn't have much of a chance considering it was an entry error. 10:40

<Pepe> Nihaba OK tkank 10:43

<codehead> long YM 13390 <paper> 10:44

stop 103379 <paper>

<Brutus> If it doesnt move up from here with conviction, which it isnt then we are more likely in for a down trend day imo 10:47

<NihabaAshi> Long ER2 @ 777.30 -> small size 10:48

1 only

<codehead> exit half YM +19 <paper> 10:50

<NihabaAshi> Exited ER2 Long @ 777.40 --> + 0.1 10:51

<codehead> trade platform messed up, did one real trade today but it was slow execution 10:52

<NihabaAshi> Heading to lunch...will also use that time to get some "mental fuel" (new perspective about the current price action).

* NihabaAshi is now known as NihabaAshi_lunch

<codehead> exit YM +35 <paper> 10:54

got bored

could go another 20 10:55

<Brutus> Dax is still hovering around the 7400 level from about the 27th looks like it wants to flush out the lows, any guess as to when 10:56

<codehead> it did go another 20 11:03

<pdays> Long ER2 @ 777.6 11:35

Exited all ER2 Long @ 778 --> + 0.4

<Pepe> nice trade in time of luch 11:39

lunch

<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) 11:55

<Brutus> HOT: Bear Stearns-BSC to hold investor call at 2 PM 12:05

<Pepe> shooting star on NQ 5 min TF 12:20

<Bambam-77> pos er trgt is 71.8 and es 1458 protect ss positions 13:08

1466.5 pos long trigger es 13:09

776.4 pos long trgr er

long 776.4 stp 775.6 13:13

* NihabaAshi_lunch is now known as NihabaAshi 13:17

<Bambam-77> rtrc to 775.8 posible if we still going up so pos re entry area 13:21

once we clear 1468 we good to go 13:24

minor resistance

protect

<Pepe> yes 13:25

<szubaark_Away> test of lows more likely now 13:26

<Pepe> vacillation

between buy and sell 13:27

<Bambam-77> here we go now 68 has to hold support 13:29

not co operating 13:30

flat b/e 13:31

<Pepe> I want any trend :) 13:35

<Bambam-77> down it seems

<Pepe> yes 13:37

<szubaark_Away> [13:30] > test of lows more likely now

<Bambam-77> 61.75 pos trgt es

64.75 needs to break 13:38

we could end up in chop here

<NihabaAshi> Long ER2 @ 777.50 -> small size 13:45

2 only

I have a decent s/r zone to add another contract if needed. 13:46

:( 13:48

<szubaark_Away> Real choppy day overall 13:51

<NihabaAshi> Exited 1/2 ER2 Long @ 778.30 --> + 0.8 13:57

<Pepe> very nice

<NihabaAshi> lucky exit considering I had a trade entry error

<Pepe> very lucky exit 13:58

<NihabaAshi> Had I done it right it should have been a +1.8 instead of a +0.8 13:59

<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) 14:01

<NihabaAshi> Exited Remainder ER2 Long @ 777.60 --> + 0.1 14:08

:(

<Pepe> lucky exit considering you had a trade entry error

<NihabaAshi> Yep and I probably would have dumped it soon above 780 price area instead of waiting for the s/r zone 14:10

Shorts ER2 @ 774.20 -> small size 14:18

2 only 14:19

Today I've been late when I take a trade during a WRB development...about 5 ticks late.

That doesn't leave much room for a position reversal if I'm wrong. 14:20

Covered 1/2 ER2 Short @ 773.00 --> + 1.2 14:22

<Pepe> Nihaba, this is my dream, you are genius 14:29

this is very nice short

<NihabaAshi> Covered Remainder ER2 Short @ 769.90 --> + 4.3 14:30

WRB Analysis

Learn More

<szubaark_Away> nice!

<Pepe> nice! 14:31

<Awash> very Nice

<szubaark_Away> now, why ES went to 1472 before we FINALLY SOLD OFF???

<Pepe> I go on drink

<szubaark_Away> Water? 14:33

<Pepe> no I am lucky, I dring whisky :) 14:34

this joke

When I trade I dring Orange Juice

:)

<NihabaAshi> Shorts ER2 @ 769.20 -> small size 14:46

3 only

Covered 2/3 ER2 Short @ 766.10 --> + 3.1 14:50

<AusTrader00> Awesome ....

<pdays> Bear Stearns released statement worst criedt market in 20 years 14:53

<NihabaAshi> Do you know what time that statement was released or hit the web ? 14:56

<Brutus> HOT: Bear Stearns-BSC to hold investor call at 2 PM 14:58

<NihabaAshi> Thanks...

soon afterward the market sold off :(

<pdays> http://www.thestreet.com/s/bad-news-hits -bear-stearns/newsanalysis/wallstreet/10 372208.html 15:01

<Brutus> 08/03/2007 15:10 Volatility Index S&P 500 Options-VIX is up 2.42 to 23.68 15:11

<NihabaAshi> Covered Remainder ER2 Short @ 764.00 --> + 5.2 15:17

<Pepe> excelent 15:18

excellence 15:19

<base> NihabaAshi: Nice one at the end of the day. 15:22

<NihabaAshi> Agree...great way to end the week especially when I was slow out of the gates today. 15:23

<base> NihabaAshi: Did you have a nice trip on the bike yesterday?

<NihabaAshi> Yes 15:24

<base> It is always good to take a break.

<Pepe> trip on the bike is very nice but better is trip with the Ferrari :) 15:28

<base> The last time the price was that low was the Chinese Syndrom in March. 15:49

<Awash> almost a 50 point range today 15:59

<Pepe> This is good for my PUT option :) 16:03

<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) 16:05

<Brutus> US STOCKS LOSSES MOUNT ON BEAR STEARNS WARNINGS 16:07

U.S. stock losses mount after Standard & Poor's downgraded its outlook for Bear Stearns added to Wall Street's credit-related worries and the latest employment report showed weaker-than-expected jobs growth. Bear Stearns falls about 4% after one executive said the fixed-income markets were the worst in more than 20 years. The Dow is down about 160 points, while the Nasdaq falls more than 40.

============ U.S. MARKETS ACTION =========== 16:08

DJIA down 284.75 points to 13178.58

NASDAQ down 64.73 points to 2511.25

S&P 500 down 39.28 points to 1432.92

10-year T-note up 21/32 at 98 18/32 yield 4.684

NYMEX Spot Crude down $1.38 at $75.48/bbl

Dollar/Euro up 0.0080 at 1.3784

Dont get many days when ER has a 33 point range 16:09

<base> It is the biggest daily range for ER2U7. 16:12

<Awash> good night all 16:18

<base> Good night and nice weekend all. 16:19

<NihabaAshi> Take care all and have a good weekend. 16:28

<codehead> you too niha 16:29

cripes, i went short 170 points from the bottom, got shaken out (YM)

with a loss before it turned back down--still did ok on scalps, but wow 16:30

knew it would be trouble if it took out the low but wowow

bounced 80 a/h

80 off the low

i need to re-write macros and post trades here 16:31

i'm still so paranoid while in a trade i can't look away-sheesh 16:32

* DisconnectedSession Close: Fri Aug 03 16:32:25 2007

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