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| August Trade Log | Trade Strategies | WRB Analysis Tutorials | Music While Trading | Testimonials | Disclaimer |
#FuturesTrades
August 7th Tuesday 2007 Trade Log
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Pattern Signals and Profit Targets 776.00 - 771.30 Profit Targets Only 765.10 - 762.60 |
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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.
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 Aug 07 00:00:00 2007Session Ident: #futurestrades <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) 01:11 * DisconnectedSession Close: Tue Aug 07 02:10:59 2007 02:10 Session Start: Tue Aug 07 09:29:17 2007Session Ident: #futurestrades * Now talking in #futurestrades 09:29 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <NihabaAshi> Long ER2 @ 763.60 -> small size 09:31 intuition trade Exited ER2 Long @ 762.40 --> - 1.2 09:32 Reverse and Enter Short ER2 @ 762.40 Covered ER2 Short @ 762.40 --> 0 09:34 Reverse and Enter Long ER2 @ 762.40 That's a Hammer reversal with out much support. Thus, it may retrace against me. 09:35 <AusTrader00> GM.. Indicisive market. 09:36 <NihabaAshi> It didn't drop low enough for me to add a second contract :( 09:38 <AusTrader00> good enough pull back 4 u... nice.... 09:39 <eminime68> choppy market 09:50 <base> GM traders <AusTrader00> gm... 09:52 <base> GM Aus 09:53 <AusTrader00> :) I wonder what Nihaba target is..... 09:55 <base> Back at 860 :) 09:56 <PapaJon> would be nice if er2 filled its daily wrb gap at 778.30 09:57 <base> Should be good time to take medium term longs. <PapaJon> thats my target "area" but... with fomc this pm... I thinks the price will rotate most the morning 09:58 bout to pick pocketed... :(( <base> The price action can be quite unpredictable before the FOMC. 09:59 <szubaark_away> Shorts ES @ 1471 «« paper »» 10:18 <AusTrader00> NihabaAshi still holding on the long ? 10:25 <szubaark> got disconnected..repost Shorts ES @ 1471 «« paper »» Covered all Short ES at 1468.75 --> + 2.25 «« paper »» 10:30 Trading Edge: 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) <NihabaAshi> AusTrader00...yes. 10:34 <AusTrader00> what ya target Niha..? <NihabaAshi> The goal for me this morning is to sit on a trade position and cross my finger that my trailing stop doesn't get hit. My target is the FOMC announcement :) 10:35 <AusTrader00> ha...... what the trail size may I ask? <NihabaAshi> Thus, I want to take it easy and take no more trades (if possible) until that announcement. Posting trail now... exit stop raised ER2 @ 762.50 10:36 I'll begin tightning up (raising) as we get closer to the FOMC announcement. 10:37 If I'm still in the trade by then. As in trailing stop not hit. <AusTrader00> nerve of steel I must say.... leaving out all the open profit... <NihabaAshi> I took a lot of trades yesterday... <eminime68> you think the market will rally after the FED announcement? 10:38 <NihabaAshi> I just want an easy going morning via a 1-2 contract position only. eminime68...I don't know... I'll have better clues a few minutes prior to the announcement. As for now...its just guessing on my part. 10:39 <AusTrader00> What is your method of trading Niha ? .. tape reading? <NihabaAshi> A coin flip. Austrader...I'll send you a private message. That's a lot of downside pressure in the last 3mins :( 10:41 Especially since it retraced a prior WRB s/r zone. 10:42 Long ER2 @ 765.90 -> Add 10:45 Using the same trailing stop for the add 10:47 Should have gotten the ADD at 765.60 but was too slow. 10:48 <base> NihabaAshi, I was not here when you posted the trail size, may I ask you how is it big in relative numbers? <NihabaAshi> [10:36] <NihabaAshi> exit stop raised ER2 @ 762.50 <base> It is absolute number. Where was the price at the time? <NihabaAshi> It's at +1 tick above my initial Long entry of 762.40 10:49 <base> Thank you. <NihabaAshi> However... My ADD is using the same stop and that means the ADD has a -3.4 initial stop/loss protection. 10:51 <base> It was about five points to the actual price, if I see it right. <NihabaAshi> That's well below my risk tolerance due to the fact its a small size position. 10:52 A wide stop for a 1-2 contract trade for me would be like 5 points in this type of volatility. However, I'll never let a 5 point stop get hit in this type of volatility. 10:53 Thus, I'll either dump the trade or reverse it into the opposite direction long before I see a -5 point loss on a trade :) <base> Yeah, I know you almost always "correct" the position manually, if it goes against you. Why to wait for the SL. :) It is just an assurance. 10:55 <NihabaAshi> Yeah...you never know when the FED does one of those "surprise rate cuts" or there's a "Bin Laden capture rumor" or "President has been shot" type of news. 10:56 Gotta have a hard stop in place for the crazy stuff that "may" happen. <base> LOL, very nice written. :) 10:57 <NihabaAshi> Be back later...will post a late trade result if stop/loss is hit while I'm away taking a break from trading. 11:00 * NihabaAshi is now known as NihabaAshi_away <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) 11:32 <PapaJon> I am done for day.. have to go to jobsite... here's my trades 11:37 http://www.veritashomeinspection.com/pj1 .jpg bye all.. have a good day <Brutus> Dax close up 0.93% not convincing considering yesterdays ES run 11:44 * codehead_afk is now known as codehead * NihabaAshi_away is now known as NihabaAshi 11:55 <NihabaAshi> Heard my audio alerts sounding off... Late trade post... 11:56 exit stop hit for 1 contract Exited 1/2 ER2 Long @ 770.20 --> + 4.3 That gives me the needed "profit cushion" to ensure my trading day ends as a profit because my first trade of the day was a loser. 11:57 Will return later. * NihabaAshi is now known as NihabaAshi_away 11:58 <base> Congrats Niha 11:59 <Brutus> 08/07/2007 10:22 DJ OIL FUTURES:Nymex Crude Hits New 1-Mo Low;Funds Keep Selling 12:02 08/07/2007 11:34 HOT: Goldman Sachs-GS denies market talk that it is liquidating Alpha Fund-Reuters 12:03 GS we are just minimizing our exposure :)) <Peekay> GS strongly up today on that news :) 12:04 <Brutus> GS, BSC all ahving a nice bounce <doublejay> exit ER2 long @ 771.60 -> +6.0 (paper) 12:19 <Bambam-77> 771.10 ss trigger for me 12:29 pos trgt for ss is vpoc 767.50 area 12:53 * NihabaAshi_away is now known as NihabaAshi 13:17 <NihabaAshi> exit stop raised ER2 @ 765.70 13:20 <AusTrader00> Look like your nerve for not taking that profit on the fall, will pay up nicely.... 13:21 <Pepe> you have nerve of steel <NihabaAshi> exit stop raised ER2 @ 767.70 That's the last adjustment I do to the trailing stop... 13:22 I'll either dump the contract a few minutes before the FOMC, add to the position or do not to see what the FED does to prices. 13:23 do not = do nothing <pat255> hi all.. 13:24 @office ... <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) 13:38 <NihabaAshi> exit stop raised ER2 @ 769.50 13:49 exit stop raised ER2 @ 770.10 13:50 <pat255> niha u L from way low? 13:51 <NihabaAshi> What's L ? <pat255> long <GoodMood> [09:34] <NihabaAshi> Reverse and Enter Long ER2 @ 762.40 13:52 <pat255> vn <NihabaAshi> exit stop raised ER2 @ 772.40 14:10 <Brutus> FOMC in 5 mins <NihabaAshi> exit stop raised ER2 @ 772.50 <Peekay> they gonna leave it anyway... :) <NihabaAshi> I'm hoping for some "LUCK" to hit 780.00 14:11 There's some resistance around the 780 price area. 14:12 <AusTrader00> yell~ 14:14 .... what a hit. <szubaark> they're good. <NihabaAshi> Exited Remainder ER2 Long @ 772.50 --> + 10.1 <base> Congrats! :) 14:15 <szubaark> Go Niha! <asuni12> great niha <NihabaAshi> :) <Peekay> good one Niha <NihabaAshi> The important thing is that I accomplish my goal of getting some mental rest. 14:16 <asuni12> curios to know if u had some slippage niha <NihabaAshi> No but I think I would have had some slippage had my stop been around 774.00 price area because it kind'uv plowed right through that price levels. 14:17 Shorts ER2 @ 766.00 -> small size 14:19 2 only Covered 1/2 ER2 Short @ 763.90 --> + 2.1 14:20 Covered Remainder ER2 Short @ 765.90 --> + 0.1 14:22 Volatility starting to settle down now. 14:24 Long ER2 @ 768.20 -> small size 14:25 2 only <Brutus> what was the ES low after FOMC? 14:27 <NihabaAshi> Exited ER2 Long @ 766.20 --> - 2 14:28 Reverse and Enter Short ER2 @ 766.20 <Brutus> ? 14:29 <Pepe> brutus 1470.70 low ES 1414pm 2 min chart 14:31 <pat255> vn niha ..just dont have the guts to play this moves <Brutus> thx <NihabaAshi> Covered 1/2 ER2 Short @ 762.20 --> + 4 14:32 <Pepe> not at all 14:33 <NihabaAshi> I didn't get my wish for a 780 on the Long position... Maybe I'll get my wish for a 760 for this Short position. 14:34 Usually I get one lucky profitable trade per day... I'm still looking for my first lucky trade for today. <Peekay> didnt you get one 10 pointer today Niha ? :) 14:35 wasnt that lucky? <NihabaAshi> No...that was planned. <Peekay> :) :) 14:36 its going your way again, so maybe you get lucky <NihabaAshi> This current trade was not planned because I just jumped on the flow of things. Feels like I'm at a slot machine in Las Vegas on this trade. 14:37 Oh oh...ER2 trying to do a Hammer time. 14:38 <Peekay> that price action now looks up slot machine <NihabaAshi> Covered ER2 Short @ 765.90 --> + 0.3 14:42 Reverse and Enter Long ER2 @ 765.90 Geeesh :( 14:43 <Peekay> no luck on short now... <NihabaAshi> Exited ER2 Long @ 766.20 --> + 0.3 14:44 ER2 volatility declining fast... 14:47 I'm expecting a volatility spike here soon. 1 contract only trading for the remainder of the trading day to protect my profits. <Peekay> r u still long with one Niha? 14:48 <NihabaAshi> Peekay...see my last trade post :) <Peekay> exited ER long I know thanx, I thought you entered 2 initially 14:49 <NihabaAshi> Long ER2 @ 771.00 -> small size 14:56 Long ER2 @ 772.00 -> Add volatility showed up again :) Looks like I'm going to regret that ADD (poor decision). 14:57 Exited 1/2 ER2 Long @ 772.40 --> + 0.4 14:58 Wow... 15:00 That's one heck of a reversal. 780 looks doable :) <pat255> yup... 15:01 <base> Yes, you have wanted it there. :) <NihabaAshi> Not anymore :( It's losing its volatility Got me fingers cross I can dump at a WRB about the 780 price area. 15:02 Resistance area again around the 770 s/r zone 15:03 Exited Remainder ER2 Long @ 775.50 --> + 4.5 15:07 got shook out :( <ItalianSharp> wow niha, today you kicked serious ass 15:08 :) <NihabaAshi> Had to sit here and watch it go up 6 points after missing the re-entry for the Long :( 15:35 There's always a lucky trade and an unlucky missed trade opportunity. 15:36 <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) 15:44 <NihabaAshi> Shorts ER2 @ 780.30 -> small size Covered ER2 Short @ 776.00 --> + 4.3 15:50 I'm done for the day. WRB Analysis <AusTrader00> really nice work Niha.. 16:03 any reason why u trade ER2 not ES ? easier to read the tape ? 16:04 <NihabaAshi> Easier to trade during low volatility conditions. More importantly, I get more trade signals with ER2 than I do with ES. 16:05 <AusTrader00> plz define easier... ar IC. <NihabaAshi> More profits and less stress = easier I use to exclusively trade ES until it's volatility begin declining while the volatility of ER2 begin rising. 16:06 <AusTrader00> so do u buy/sell @ market or set a limit??? <NihabaAshi> All the above...depends on the price action. <AusTrader00> ok... I admir your trading ability ... every day .. great job. 16:07 <Brutus> ============ U.S. MARKETS ACTION =========== 16:08 DJIA up 39.75 points to 13506.50 NASDAQ up 16.53 points to 2563.86 S&P 500 up 10.07 points to 1477.80 10-year T-note down 75/32 at 97 29/32 yield 4.770 NYMEX Spot Crude down $0.07 at $72.36/bbl Dollar/Euro down 0.0049 at 1.3744 <NihabaAshi> FOMC announcement days are usually my best trading days...if I can catch a trend in the morning :) <Brutus> FED LEAVES RATES AT 5.25%; SOFTENS INFLATION BIAS Federal Open Market Committee, as universally expected, votes unanimously to hold the federal funds rate at 5.25%. Fed says inflation remains its primary concern but acknowledges risks of slower economic growth, suggesting it is starting to recognize the potential for subprime mortgage woes and broader credit market turmoil to hamper output. <AusTrader00> I'm off .. good night and see you all tomorrow.. 16:10 <Brutus> Niha 16:11 <NihabaAshi> Yeah 16:14 <Brutus> Do you know what happened to eminitrader? 16:15 <NihabaAshi> No...I plan on sending him an email this weekend. 16:16 Hopefully everything is alright and he just got bored in here. <Brutus> OK, him and szu must be the oldest members here :) cul8r 16:19 <base> I hope he is on vacation ... 16:26 <NihabaAshi> Me too or taking a break from trading. <base> It is possible with this kind of market. 16:27 <ItalianSharp> actually, taking a break with this type of market could be very expensive in terms of missed profits 16:29 anyways, i hope to see emini back very soon 16:30 <base> On the other hand, it was very easy to loose your pants during past days. I hope to see him soon as well. 16:46 Good night all, see you traders. <Pepe> all see you tomorrow 16:56 * DisconnectedSession Close: Tue Aug 07 17:05:58 2007 17:05 Sponsor:
Google:
#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
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.
Sincerely,
M.A. Perry and Associates
TheStrategyLab.com
"The point of this whole exercise is to make money. Everything else is just conversation." --Jonathan Hoenig
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