#FuturesTrades August 8th Wednesday 2007 Trade Log

General Chat Room/Log Info: The above 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: Wed Aug 08 09:27:08 2007Session Ident: #futurestrades
* Now	talking in #futurestrades	09:27
<X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<PapaJon>	gm all
<venedom>	gm
<base>	GM
<NihabaAshi>	Good morning all.	09:28
<Peekay>	gm
<Brutus>	1000/1400 Jun Wholesale Trade
	Inventories +0.5%
<Pepe>	gm	09:30
<pat255>	gm all	09:31
	what happened to emini?
<NihabaAshi>	Long ER2 @ 786.20 -> small size	09:32
	2 only	09:33
	I'm a little slow out of the gate this morning...
	Should have been in at 785.20
<AusTrader00>	GM...	09:35
<ripsboy>	Good Morning All...	09:36
<venedom>	esignal froze
<NihabaAshi>	Long ER2 @ 787.50 -> Add
	Gotta exploit ER2 when it does one of those quick drops like that.
<pat255>	yes..	09:37
<NihabaAshi>	Exited 1/3 ER2 Long @ 789.00 --> + 1.5
<PapaJon>	rodeo time
<NihabaAshi>	Exited 1/3 ER2 Long @ 790.30 --> + 4.1	09:38
	I made 3x more than I expected on this trade.
<Peekay>	u r just good :)
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)
<NihabaAshi>	Thus, will let my remainder ride that bronco to see if she can shake me off by hitting my trailing stop.	09:39
	exit stop raised ER2 @ 786.30
	There's a lot of resistance up here above 790.00	09:40
	ER2 will need a lot of help to push higher.
<PapaJon>	yah.. but a nice wrb gap at 806.1 for a target :))
<NihabaAshi>	Only Gold being supportive right now and Oil not doing much.	09:41
<PapaJon>	yesterday filled the prior one
	or rather the most recent one
	er2 strong this morn :)	09:43
<NihabaAshi>	Oil now trying to give some support to help ER2 keeps its current price levels.	09:45
<szubaark>	Shorts ES @ 1492.50 «« paper »»	09:47
<NihabaAshi>	ER2 is due for another volatility spike because volatility has been declining for the past 4 intervals...	09:51
	If that spike sends prices higher instead of lower...it should put a lot of pressrure on the shorts (short covering)
<szubaark>	Covered all Short ES at 1494.50 --> - 2 «« paper »»
<NihabaAshi>	Ooopss...just did.
	Exited Remainder ER2 Long @ 796.30 --> + 10.1	09:52
<szubaark>	Shorts ES @ 1492.75 «« paper »»
<PapaJon>	beauty niha
<ripsboy>	Congrats to NIha...great trade	09:53
<NihabaAshi>	That's a first for me...new record in that I've had "back to back" trading days that produce +10 points on a contract.
<AusTrader00>	great trade as expected :P
<Brutus>	vn n
<ItalianSharp>	niha, when that happens...it's time for another day biking with the kids...:))	10:00
<base>	:)	10:03
<Bambam-77>	793.70 ss trigger	10:09
	looking will i get 798.10	10:10
	if we blow through next is 800.10	10:12
<szubaark>	Real chop now :(	10:13
<Bambam-77>	protecting long pos
<werner>	gm all	10:16
<Bambam-77>	they have 13 min to makeup there minds
	mp says up still for new b period hi
<szubaark>	Covered all Short ES at 1495 --> - 2.25 «« paper »»	10:17
<Bambam-77>	98.10 hit now we either push or we re trc	10:19
	8 min left	10:20
	protect contra scalps	10:21
<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)	10:23
<Bambam-77>	lots of mojo left	10:25
	800.10	10:26
	new ss trigger 96.50
<NihabaAshi>	ER2 volaltility declining again...setting up another volatility spike.	10:27
	Most likely the 1030am est EIA Petroleum Status report will be the trigger for the next volatility spike.	10:28
<Bambam-77>	trying scalp ss 97.9 in other account
	flat scalp	10:31
	796.9 new ss trigger
	still long
	they want 1500.75 es	10:33
<NihabaAshi>	Long ER2 @ 799.00 -> small size
	2 only because I'm in profit protection mode.
<Bambam-77>	800.10 is my next pos trgt
<NihabaAshi>	Will go to 1 contract only after this quick trade.
<Bambam-77>	protect es longs ss trigger hit	10:35
<NihabaAshi>	Looks like market breadth is starting to flat line now.	10:36
	:(
<Bambam-77>	er still long in holding patern	10:37
	i use a 2 pt trail stp from ne hi's	10:38
	ss trigger es void	10:39
	new hi's
	1500.75
<NihabaAshi>	Exited all ER2 Long @ 801.20 --> + 2.2
<Bambam-77>	next
<pat255>	vn n
<NihabaAshi>	Got +1.2 more thanks to the volatility spike.	10:40
<PapaJon>	:)
<Bambam-77>	1505 area pos es trgt if this keeps up
	25 pt day if it does
	805.50 is a vpoc for me er	10:42
	and a good trgt
	not that far that we can't take them out
<NihabaAshi>	Impressive price action so far after yesterday's FED announcement.	10:44
	Too bad for the U.S. Dollar so far :(
<Bambam-77>	14 min left	10:45
	802.20 ss trigger	10:46
	and my stp on last lot
<PapaJon>	nearing that wrb gap on daily
<Bambam-77>	here is the 805 area	10:47
	done thank you mr market
	i am done for the week now	10:48
	4x daily goal met
<PapaJon>	vn bb
<Bambam-77>	must stay below 803 for good ss	10:49
	9 min left to 1/2 hr comp	10:50
<jperl>	I made lunch money this morning....trades here...	10:52
	http://charts.dacharts.com/2007-08-08/JP ERL_0113.jpg
<Bambam-77>	protect ss still below 803	10:56
	using 802.6 as stp for ss	10:58
<pdays>	Shorts ER2 @ 801.9	11:01
	Covered all ER2 Short @ 801.4 --> + 0.5
<PapaJon>	done for the day.. have to leave for jobsite... heres trades.	11:03
	http://www.veritashomeinspection.com/pj1 .jpg	11:04
	cheers all
	cya tomorrow
<jperl>	nice trading PJ
<PapaJon>	thnx jp.. a good day for once	11:05
<NihabaAshi>	Shorts ER2 @ 800.30 -> small size	11:46
	1 only
<AusTrader00>	is that a just for fun trade niha :)	11:49
<Pepe>	:))	11:52
<NihabaAshi>	Covered ER2 Short @ 799.00 --> + 1.3	11:57
	That was an "unusual volatility spike" a few minutes ago.	12:03
	Most likely news related.
<AusTrader00>	u bailed out 1 min too quick ...	12:04
<NihabaAshi>	Yep
	Shorts ER2 @ 797.30 -> small size
<jperl>	ER2 VWAP 796.89	12:05
<NihabaAshi>	Hopefully this doesn't turn into the wrong type of WRB I just shorted.
	Going to lunch soon.
	Covered ER2 Short @ 796.90 --> + 0.4	12:06
* NihabaAshi	is now known as NihabaAshi_away	12:19
<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)	12:29
* codehead_afk	is now known as codehead	12:39
* sep34	is now known as sep34_away	12:45
<szubaark>	Shorts ES @ 1498.25 «« paper »»	12:54
	We still have the Gap on ES	13:00
<Pepe>	where?	13:07
	what Time frame?
<pdays>	from this AM	13:09
<szubaark>	Covered all Short ES at 1503.75 --> - 5.5 «« paper »»	13:33
	Buys ES @ 1503.75 «« paper »»
	just keeps pushing higher	13:34
<Peekay>	going nowhere...double top around 805.00	14:04
<szubaark>	just get long and exit end of day if you got the inside info :))	14:05
<Peekay>	did u ? :)	14:06
* sep34_away	is now known as sep34	14:10
<szubaark>	geez, ES finally broke out of the 40 Minute Congestion area	14:13
	anybody Long from this am?	14:26
<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)	14:32
<szubaark>	Exited all Long ES at 1503 --> - 0.75 «« paper »»	14:40
	:(
	i faught the uptrend all day..gonna call it a day	14:41
<ItalianSharp>	szu, why didnt you take some profits? weren't you over 6pts in the money?	14:43
<Brutus>	7pts	14:44
<ItalianSharp>	right
<Brutus>	Should have used the channel once the BO trend got established
<ItalianSharp>	i mean....you made up for the prior loss and some more...were you going for a tenner like emini does?
<Brutus>	It was a good reversal Szu and hold :)	14:47
<szubaark>	i was looking for 10+ for 7/26 Gap close around 1519 :(	14:48
	i trade 1 Contract so need "homeruns" to make up all the small loses
<ItalianSharp>	well, i wouldnt call a 5pt loss in ES a small loss szu...this is why you need homeruns...because your losses might be a bit too large	14:51
<szubaark>	but that also goes with my entries arent the greatest also (i wait for a lot of confirmation).. FOMC weeks are TOUGH TO TRADE	14:52
<ItalianSharp>	dont mean to sound like a dickhead at all...just trying to help out here and i felt sorry to see you waste nice profits like that
<szubaark>	yes.. that Drop from 1510 caught me by surprise.. i guess it was 61% Retrace from 7/23 to 8/6 (20/20 Hindsight)	14:53
<ItalianSharp>	szu...you are right about the entries...the more confirmation you wait for, the more risk you have to be willing to take on
<szubaark>	bUT due to my entry after the breakout to new highs any retrace and i would pay
	On a day after FOMC like today, you need to adjust your game plan, and im not there yet (not enough experience)	14:55
	today is not a day you want to use Indicators :)))	14:56
<ItalianSharp>	szu, as far as i am concerned...every day is not a good day to use them indicators...:))	14:58
	probably because i can't use them...not sayign they don't work	15:01
* NihabaAshi_away	is now known as NihabaAshi	15:03
<NihabaAshi>	Shorts ER2 @ 796.50 -> small size	15:09
	1 only
	Covered ER2 Short @ 795.90 --> + 0.6	15:15
	Shorts ER2 @ 792.40 -> small size	15:18
	Covered ER2 Short @ 793.90 --> - 1.5	15:20
	Reverse and Enter Long ER2 @ 793.90
	Hammer time again but I got Long while it was still forming.
	Thus, high risk position reversal.
	Exited ER2 Long @ 794.00 --> + 0.1	15:21
	Shorts ER2 @ 795.70 -> small size	15:23
	:(
	Covered ER2 Short @ 788.40 --> + 7.3	15:29
WRB Analysis	Learn More
<ItalianSharp>	niha, tomorrow biking with the kids?	15:31
<NihabaAshi>	Not yet...I prefer do that when I've exceeded the 3k level in profits.	15:34
	I'm close to that now.
	Too bad I took "too long" of an afternoon nap.	15:35
	I could have been short much earlier soon after the top.
<ItalianSharp>	well, at least you woke up in time for a nice run to those lows
<Pepe>	I was surprised you not back to take more dough from the market too.. Still you made it good now	15:36
<AusTrader00>	what is your entry NIha?	15:37
<NihabaAshi>	not short right now	15:42
	[15:23] <NihabaAshi> Shorts ER2 @ 795.70 -> small size	15:43
	[15:23] <NihabaAshi> :(
	[15:29] <NihabaAshi> Covered ER2 Short @ 788.40 --> + 7.3
<AusTrader00>	Legend...	15:45
<NihabaAshi>	Long ER2 @ 791.40 -> small size
	tough trade...had to watch it slowly rise from 790 before making a decision :(	15:46
<base>	It is quite funny to see the sad smile and the close with a profit of 7.3 points six minutes later. :)
<NihabaAshi>	Yeah, that sad smile was that I could have had a much better entry...got caught doing too much analysis.	15:47
	Same with this trade :(
<base>	But in the end, very nice one.	15:48
<NihabaAshi>	That's one of the flaws with "intuition trading"...
	Thinking too much.
	Whereas when I use my actual trading plan...not much thinking because its either valid or not valid.	15:49
<base>	I think it is natural behaviour, to think too much in this kind of situation.	15:51
<NihabaAshi>	I gave this trade a ton of wiggle room...	15:52
	Even let it retrace me into the losing category just so I can go for 793.50
<AusTrader00>	so did u get filled with market order?
<base>	Some people over shoot their chart setups with a bunch of various indicators, ... while an intuition trader tends to overthink.	15:53
<NihabaAshi>	Exited Remainder ER2 Long @ 795.50 --> + 4.1
<AusTrader00>	Look at this .... wow..
<NihabaAshi>	Yes...market order in and market order out.
<ItalianSharp>	this is what they call "short covering" at wall street
<NihabaAshi>	Got my 3k profits for the day.	15:54
<ItalianSharp>	looks like FOMC all over again today
	volatility just came out of nowhere
<base>	NihabaAshi: In a word, excellent.
<Pepe>	3k for the day ... not bad
<NihabaAshi>	Yep...especially when I'm doing 1 - 2 contract trades.	15:55
<ItalianSharp>	niha, you are now eligible for a biking day with the family
<base>	lol
<NihabaAshi>	:)	15:56
<base>	You can even buy a new bike yourself. :)
<Pepe>	or Ferrari	15:57
	:)
<NihabaAshi>	I don't have to worry about the spouse trying to get me buy "diamonds" any more after she watched the movie "Blood Diamonds" with Leonardo guy.
	:)
<base>	lol
<NihabaAshi>	They are now on her ban list.
<base>	I think I have to look for the movie. :)	15:58
<NihabaAshi>	Wow...that's an impressive bounce so far.	15:59
<werner>	what a bounce
	indd niha	16:00
	bulls not dead yet
<NihabaAshi>	Gotta love this type of volatility...you can kill it going down or up.	16:01
<werner>	hi
<ItalianSharp>	i cant believe we are looking at nearly new highs right now
	it was blood all over the place until 20mins ago...
<NihabaAshi>	same here...crazy.
<ItalianSharp>	i wondering what caused this back-and-forth volatility	16:02
<NihabaAshi>	Around 3:30pm est I thought ER2 was in deep dodo.
<ItalianSharp>	yep
<NihabaAshi>	I get the feeling there are a few big boy firms out there doing a lot of high fiving each other while saying "we got them again".	16:04
<ItalianSharp>	yes...and i have the feeling that if these markets didnt collapse today...there must be more upside room...YM can easily make new highs within the close	16:05
<werner>	thats the luxery of daytrading, tomorrow is en new day. with new chances	16:09
	i love it
	i don't try to predict the market , i see what a get and try to trade that way	16:13
	don't fight the market imo	16:15
	gn all see you tomorrow	16:16
<NihabaAshi>	Archived #FuturesTrades chat logs are updated through yesterday at http://www.thestrategylab.com/RecentTrad es.htm	16:18
<Brutus>	============ U.S. MARKETS ACTION ===========
	DJIA up 79.26 points to 13588.68
	NASDAQ up 45.02 points to 2606.62
	S&P 500 up 14.84 points to 1491.35
	10-year T-note down 21/32 at 97 8/32 yield 4.855
	NYMEX Spot Crude down $0.27 at $72.15/bbl at close	16:19
	Dollar/Euro up 0.0055 at 1.3797
	US STOCKS RALLY FADES; FINANCIALS LOSE SOME STEAM
	Shares lose steam as financial stocks fail to hang onto an incipient rally. Shares had earlier risen with the Federal Reserve's rate decision on the books and signs of steadiness appearing in the mortgage arena. Tech sector benefits from Cisco Systems raising its revenue outlook and posting a 25% rise in income. Nasdaq remains up about 30 points, while the Dow nears the flatline.
<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)	16:35
<Pepe>	gn	16:41
<base>	Good night all	16:42
<NihabaAshi>	Take care all and see all tomorrow :)	17:18
* DisconnectedSession	Close: Wed Aug 08 17:19:11 2007	17:19
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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 

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.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

 questions@thestrategylab.com

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