#FuturesTrades August 7th Thursday 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: Thu Aug 07 07:18:13 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	07:18
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
* NihabaAshi	is now known as NihabaAshi_away	07:29
* anglo	is now known as angl	08:25
<@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 http://www.thestrategylab.com/FuturesTradesChatRoom.htm	09:09
<Andy>	gm all	09:24
<+Andy>	[15:20] <Andy> Shorts ES @ 1290 «« paper »»	09:25
	[15:50] <Andy> holding remainder of short until tomorrow, unless taken out at 129100...gn all	09:26
<szubaark>	nice
<+Andy>	:)
	thanks szu
	my guess is that the mortgage numbers will be the tool to drive the market down further	09:27
	although no one could possibly be surprised that they are likely to be bad	09:28
<drt>	gm all	09:30
<futurible>	gm all	09:31
<Splurge>	lo all
<+Andy>	Covered 2/3 ES Short @ 1278.75 --> + 11.25 «« paper »»
<+szubaark>	Shorts ES @ 1277 «« paper »»	09:34
<silo>	high probability that the market will keep going down
<+szubaark>	silo, you SHort now?
<+silo>	no	09:35
	too risky now
<PapaJon>	gm all
<+szubaark>	risky? we keep tanking	09:36
<+silo>	because you're the best
<ItalianSharp>	gm	09:37
<+szubaark>	Covered all Short ES at 1273 --> + 4 «« paper »»
<+silo>	risky because it's down so fast and hard already.... and when it comes to er2... i dont want to get caught in the fast bounce
<+Andy>	Covered Remainder ES Short @ 1274 --> + 16 «« paper »»	09:38
<+PapaJon>	gm all	09:39
<+Andy>	gm PJ	09:40
<+silo>	expecting bounce soon
<Baxwill>	Andy, perfect theory, screwed by just a small issue	09:41
<+Baxwill>	Your all day short, that is
<+Andy>	I'm here to learn, teacher...
<+Baxwill>	I had same idea, just didn't get up for 5:30 peak	09:42
<+silo>	er2 long 718.60	09:44
	hmmm weird
	out	09:45
	that's weird i seem to have lost the posting script
	long again	09:49
	719
	reversed	09:58
<+szubaark>	10 am news in 2 minutes
	silo, reversed again?	10:00
<+silo>	reversed	10:03
<+szubaark>	so u went Long,SHort, and now Long again?
<+Andy>	Shorts ES @ 1280.75 «« paper »»	10:07
	Covered 2/3 ES Short @ 1279.75 --> + 1 «« paper »»	10:09
	Covered 1/4 ES Short @ 1279.25 --> + 1.5 «« paper »»	10:11
	h1
	Covered Remainder ES Short @ 1278.25 --> + 2.5 «« paper »»	10:14
	Shorts ES @ 1281.5 «« paper »»	10:19
	Covered all ES Short @ 1282 --> - 0.5 «« paper »»	10:20
	hmmmm	10:21
<+szubaark>	Shorts ES @ 1280.75 «« paper »»	10:25
	exit stop moved to breakeven ES @ 1280.75 «« paper »»	10:28
	Covered all Short ES at 1280.75 --> 0 «« paper »»	10:34
	Buys ES @ 1281.50 «« paper »»	10:36
<+silo>	tough morning again	10:40
<+szubaark>	lots of Chop Zones after every spike
<+silo>	dax going opposite of the other indexes	10:41
	i'm gonna sit on the sideline for a bit
<manto>	cant be bearish on ES ...
<+manto>	buy lows ..
<+szubaark>	looks like they want to close Gap	10:42
<+manto>	yes
<+Andy>	Shorts ES @ 1279.75 «« paper »»	10:57
	Shorts ES @ 1280.25 -> Add «« paper »»	11:00
	Covered 3/4 ES Short @ 1279.5 --> + 0.75 «« paper »»	11:04
	Covered Remainder ES Short @ 1279 --> + 0.75 «« paper »»	11:05
	Shorts ES @ 1279.75 «« paper »»	11:10
	Covered all ES Short @ 1280.5 --> - 0.75 «« 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 http://www.thestrategylab.com/FuturesTradesChatRoom.htm	11:15
<+szubaark>	Expecting Volatility spike since this 1hour Brutal Chop	11:16
<+manto>	hmmm N not here today?	11:19
<+Andy>	Long ES @ 1278.25 «« paper »»
<+manto>	back to vacation ...:) lol
<+Andy>	Long ES @ 1277.75 -> Add «« paper »»	11:20
	Exited all ES Long @ 1277.75 --> - 0.5 «« paper »»	11:23
<+szubaark>	just floor whacking Stops	11:25
<KN-SR>	Long ES @ 1277	11:44
<+szubaark>	hi kn
	still waiting for gap close :))
<+KN-SR>	hi szubaark
	no idea
	i just have a laptop and dont have any chart open	11:45
	s.l .75
<+manto>	hi kn
<+KN-SR>	hi manto	11:46
	Exited 3/4 ES Long @ 1279 --> + 2	11:49
	sl .25	11:50
	h 7
	brb
<+szubaark>	we should slowly start re-testing day High, inching Tick by Tick Higher	11:53
* szubaark	is now known as szubaark_away
<+KN-SR>	Long ES @ 1276.75	11:59
	sl .75
	brb	12:00
<+Andy>	Long ES @ 1275.75 «« paper »»	12:01
	Long ES @ 1275.25 -> Add «« paper »»	12:03
* codehead_afk	is now known as codehead	12:09
<+Andy>	Exited 2/3 ES Long @ 1267.75 --> - 7.5 «« paper »»	12:14
	error
	Exited 2/3 ES Long @ 1276.75 --> + 1 «« paper »»	12:15
	Exited 1/3 ES Long @ 1277.75 --> + 2 «« paper »»	12:18
	h2
<Trader>	KN what time frame r u using for your entries?	12:34
<+Andy>	Exited 1/3 ES Long @ 1279 --> + 3.25 «« paper »»	12:35
	h1	12:36
<+KN-SR>	Trader..... I dont use any TF for entries and NOW having all kind of trouble trading with laptop	12:37
	cannt wait to go back home
	bbl	12:38
<JimL>	Hi KN are you just trading off the Matrix?	12:39
<werner>	hi all	12:42
<+Andy>	Exited Remainder ES Long @ 1280.5 --> + 4.75 «« paper »»	12:43
<+KN-SR>	nice trade
<+Andy>	Shorts ES @ 1280.75 «« paper »»	12:44
	:)_
	Covered 2/3 ES Short @ 1297.75 --> - 17 «« paper »»	12:45
	geez, wrong
	Covered 2/3 ES Short @ 1279.75 --> + 1 «« paper »»
	h1	12:46
	Covered Remainder ES Short @ 1280.75 --> 0 «« paper »»	12:47
* szubaark_away	is now known as szubaark	12:48
<+szubaark>	[11:53] > we should slowly start re-testing day High, inching Tick by Tick Higher
	now, Gap close likely on ES	12:49
<+Andy>	Shorts ES @ 1282.25 «« paper »»
	Covered 1/2 ES Short @ 1281.25 --> + 1 «« paper »»	12:51
	Covered 1/4 ES Short @ 1281 --> + 1.25 «« paper »»	12:55
	Covered Remainder ES Short @ 1281.75 --> + 0.5 «« paper »»	12:56
<+silo>	2 contracts short 722.90	13:03
<+szubaark>	where is yur Stop?	13:11
<+silo>	anyone know where to get the script to display trades for this room?	13:12
	for some reason i lost mine
<+werner>	http://thestrategylab.com/forum/index.ph p?topic=32.0	13:13
<+silo>	thanks	13:14
<+werner>	yw
<@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 http://www.thestrategylab.com/FuturesTradesChatRoom.htm	13:21
<+Andy>	Long ES @ 1280.25 «« paper »»	13:38
<peterpanboy>	good aftenoon to all	13:42
<+Andy>	Exited all ES Long @ 1280.75 --> + 0.5 «« paper »»	13:44
	Long ES @ 1280 «« paper »»	13:49
	Exited all ES Long @ 1279.75 --> - 0.25 «« paper »»	13:54
<+szubaark>	maybe one more spike to 1278 before heading higher
<+silo>	indexes making lower highers
<+szubaark>	its just probing for Stops	13:58
<+silo>	where are you long from?
<+szubaark>	1281.50
	Ive been Long since around 10:30.. too much chop	13:59
<+silo>	k
<+peterpanboy>	reach 1278 ES I saw many volume traded here	14:00
<+szubaark>	they got more Stops here
	1277 should bounce IF not im Reversing Short	14:01
<+Andy>	Long ES @ 12770 «« paper »»	14:06
	Long ES @ 1276.75 -> Add «« paper »»	14:07
	Exited 1/2 ES Long @ 1278 --> + 1.25 «« paper »»	14:08
	Exited Remainder ES Long @ 1277 --> - 11493 «« paper »»	14:10
	?
	0
	ah...my entry shows 12770	14:12
	Long ES @ 1277.5 «« paper »»	14:14
<+szubaark>	nice Scalps Andy	14:15
<+Andy>	thanks szu...so little volume...price can be pushed around so easily...feel a little gun shy	14:16
<+szubaark>	yeah, Tight 6 Point Range..
	Every level is scalped tick got tick
	got=for	14:17
* fseitun	is now known as ItalianSharp	14:20
<+szubaark>	testing and re-teasting and testing again this 1276 :))	14:22
<+Andy>	Long ES @ 1277 -> Add «« paper »»
	I think I am reaching in a dead market	14:23
<+szubaark>	this market has been Dead since last month
<Nesi>	Shorts ER2 @ 7201.00	14:24
<+Nesi>	Shorts ER2 @ 721.00
<+szubaark>	ES still hasnt closed its Gap	14:25
<+silo>	Long ER2 @ 721.4 «« paper »»	14:27
<+szubaark>	Should get a spike soon, then Chop again for hours LOL
<+silo>	not paper
<+Andy>	Exited 2/3 ES Long @ 1278 --> + 1 «« paper »»
	h3 stop 76.5	14:28
	Exited Remainder ES Long @ 1276.5 --> - 1 «« paper »»	14:29
<+silo>	Exited all ER2 Long @ 720.40 --> - 1 «« paper »»
<+werner>	bad wether here....must shut pc off ... later all	14:37
<+szubaark>	Exited all Long ES at 1274.50 --> - 7 «« paper »»	14:45
	Shorts ES @ 1274.50 «« paper »»	14:46
	TANK!!
<+Nesi>	Covered all ER2 Short @ 718.00 --> + 7
	that is 4 , not seven	14:47
<+manto>	vn
<+Nesi>	i mean 3
	geez
<+silo>	Shorts ER2 @ 717.70 «« paper »»	14:48
<+szubaark>	still no direction, hopefully it dies here	14:49
<+silo>	chase
	:)
<+Nesi>	Shorts ER2 @ 718.10.	14:50
<+Andy>	Long ES @ 1274.5 «« paper »»	14:51
<+silo>	using 718.90 as protective stop	14:52
<+Andy>	Long ES @ 1274 -> Add «« paper »»	14:53
<+Nesi>	Shorts ER2 @ 718.30 -> Add
<+Andy>	Exited 2/3 ES Long @ 1275.25 --> + 1.25 «« paper »»	14:54
	h3 stop 74.25	14:55
	Exited Remainder ES Long @ 1274.75 --> + 0.25 «« paper »»	14:57
<+szubaark>	gonna Hold this SHort, need the frikin Points	14:59
<+silo>	Shorts ER2 @ 717.60 -> Add «« paper »»	15:00
<+Andy>	Long ES @ 1272.25 «« paper »»
	Exited all ES Long @ 1273.5 --> + 1.25 «« paper »»	15:01
	error...only meant to cover 2/3rds
	but I guess that turned out alright	15:02
<+Nesi>	Covered all ER2 Short @ 717.00 --> + 718.10. - 717.00 + 1.3
<+Andy>	Long ES @ 1272.25 «« paper »»
	Exited all ES Long @ 1270.25 --> - 2 «« paper »»	15:04
<+szubaark>	hehe Andy,trying to pick Bottoms :)
<+Andy>	yes...and we all know how successful that is :)	15:05
<+szubaark>	picking bottoms leaves you with smelly fingers
<+Andy>	the bottom is exactly here...for the next thirty seconds	15:06
<+KN-SR>	:)
	well Andy, if it goes this way, u will definitely see the bottom :)
<+Andy>	the bottom of my account, you mean?
<+KN-SR>	we may see both
	:)
<+manto>	lol	15:07
<+Andy>	see? we wer