#FuturesTrades August 8th 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 08 00:00:00 2008Session Ident: #futurestrades
<@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	01:48
<@NihabaAshi>	Good morning all...just finish watching the 2008 Beijing Olympic Opening Ceremony...very impressive :) http://en.beijing2008.cn/ceremonies/photos/openingceremony/	09:23
<+silo>	i missed it	09:27
	open they will replay it
<@NihabaAshi>	Yeah...TV networks usually replay it multiple times the first few days	09:28
<futurible>	gm all	09:29
<Baxwill>	morning
<ItalianSharp>	gm
<@NihabaAshi>	Shorts ER2 @ 712.70 -> large size	09:32
<Nesi>	Long ER2 @ 713.00
<+silo>	Shorts ER2 @ 712.8
<@NihabaAshi>	Missed 713.40 due to hesitation :(	09:33
<tzar>	gm NihabaAshi!
<PapaJon>	gm all	09:34
<@NihabaAshi>	Covered ER2 Short @ 712.10 --> + 0.6
<+silo>	Covered all ER2 Short @ 713 --> - 0.2	09:35
<szubaark>	Buys ES @ 1265 «« paper »»	09:36
<@NihabaAshi>	Long ER2 @ 714.30 -> medium size
<+silo>	Long ER2 @ 714.9
<+Nesi>	Exited all ER2 Long @ 715.00 --> + 2
<+szubaark>	Exited all Long ES at 1267.75 --> + 2.75 «« paper »»	09:37
<@NihabaAshi>	Exited 3/4 ER2 Long @ 717.20 --> + 2.9
<T-stop>	vn trade Niha
<+Nesi>	vn	09:38
<+szubaark>	Nice Niha taking it down then up
<@NihabaAshi>	Market is fast this morning
<+Nesi>	Shorts ER2 @ 718.00
<+silo>	Exited all ER2 Long @ 718.3 --> + 3.4
<+szubaark>	nice silo
<+silo>	i managed to control my emotion this time... out quick on that opening short	09:39
<+Nesi>	congrats, silo
<+silo>	and out where i need to exit
	without waiting for price to retrace or not letting go
	making some progress on live trading	09:40
	:D
<+szubaark>	days not over yet LOL
<+Nesi>	Covered all ER2 Short @ 718.50 --> - 0.5
<+silo>	of course
<ripsboy>	gm all...
<@NihabaAshi>	Exited Remainder ER2 Long @ 718.60 --> + 4.3	09:41
<+Nesi>	Shorts ER2 @ 718.10
<@NihabaAshi>	Shorts ER2 @ 717.00 -> small size	09:43
<+Nesi>	Covered all ER2 Short @ 716.50 --> + 1.6	09:44
<@NihabaAshi>	Gave this too much breathing room	09:45
<+szubaark>	Pinball type Price Action
<@NihabaAshi>	Covered all ER2 Short @ 717.50 --> - 0.5
<KN-SR>	Long ES @ 1267.50	09:46
<+KN-SR>	s.l 65.25
	bbl
<+Nesi>	Long ER2 @ 718.50	09:47
<+KN-SR>	Exited 3/4 ES Long @ 1268.25 --> + 0.75
	nop
	Exited 3/4 ES Long @ 1268.50 --> + 1
<+tzar>	Long ES @ 1267.25 «« paper »»	09:48
<@NihabaAshi>	Shorts ER2 @ 717.30 -> small size
	Covered ER2 Short @ 718.30 --> - 1	09:49
	Long ER2 @ 719.40 -> large size	09:50
<+tzar>	Exited all ES Long @ 1269.25 --> + 2
<+Nesi>	Exited all ER2 Long @ 719.50 --> + 1
<+silo>	720.20 is a resistance for long	09:51
<@NihabaAshi>	:(	09:52
	Pin Ball Machine price action
<+tzar>	wow
	i think we hit some stops on ER
<+KN-SR>	Exited 1/4 ES Long @ 1271.00 --> + 3.5	09:53
	h7
<+tzar>	vn KN-SR
<+szubaark>	Shorts ES @ 1270.50 «« paper »»
<+Nesi>	Shorts ER2 @ 720.00
<@NihabaAshi>	Exited ER2 Long @ 720.40 --> + 1
	Holding 1 remainder only
<+Nesi>	Covered all ER2 Short @ 721.00 --> - 1	09:54
<@NihabaAshi>	Exited Remainder ER2 Long @ 721.60 --> + 2.2
<+KN-SR>	Exited 1/4 ES Long @ 1272.50 --> + 5
	h5
	s.l 66.25	09:55
<@NihabaAshi>	weak resistance are here
<+KN-SR>	1.25
<+Nesi>	Shorts ER2 @ 721.10
<+KN-SR>	we should see 75.25	09:56
	i guess	09:57
<@NihabaAshi>	Shorts ER2 @ 720.80 -> small size	10:00
	2 only
<+szubaark>	just got Overnight High (Stops)	10:01
<@NihabaAshi>	Covered ER2 Short @ 721.60 --> - 0.8	10:04
	Reverse and Enter Long ER2 @ 721.60
	Exited ER2 Long @ 721.90 --> + 0.3	10:05
<+szubaark>	Volatility starting to contract (Chop)	10:06
<@NihabaAshi>	Pin Ball Machine...I'm giving these past few trades "a lot" of breathing room.
<@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
<@NihabaAshi>	Will continue to do so until the first contracting volatility is in place
	Long ER2 @ 723.30 -> medium size	10:07
	chaser by 8 ticks	10:08
<+KN-SR>	Exited 1/4 ES Long @ 1274.50 --> + 7
	h4
<+T-stop>	vn KN
<+KN-SR>	Exited 1/4 ES Long @ 1276.50 --> + 9	10:09
	h3
	thanks
<@NihabaAshi>	Exited ER2 Long @ 725.80 --> + 2.5
<+szubaark>	wow..impressive ramp up, with no pullbacks
<+silo>	nice little greedy trade :D
	hehe
<@NihabaAshi>	Holding 1 contract
<+silo>	i love it when those work out
	:D
<+KN-SR>	Exited 1/4 ES Long @ 1277.50 --> + 10	10:10
	got it
	:)
	h2
<+szubaark>	nice kn
<+KN-SR>	thanks
<@NihabaAshi>	Price action still moving fast
	Exited Remainder ER2 Long @ 727.50 --> + 4.2
<+KN-SR>	81.50 next
<+ItalianSharp>	today could be a historical day for quite some time	10:11
<+KN-SR>	if i m not that wrong
<+ItalianSharp>	EURUSD broke big time support levels
<+KN-SR>	i guess
<+ItalianSharp>	eminis rallying hard
<+szubaark>	ES 17 Points straight up with no pullback..havvent seen that in months LOL
<@NihabaAshi>	ItalianSharp...glad someone notice those support levels being broke along with GOLD price drop validating the support is gone.	10:12
<+szubaark>	Also Oil down -5	10:13
<+ItalianSharp>	i am sure the EURUSD drop really has something to do with this non-stop rally
<+silo>	the 1.54 level in EURUSD?
<@NihabaAshi>	Wow...	10:14
<+szubaark>	SHORT SQUEEZE
<@NihabaAshi>	Better go to my Canadian bank today and deposit some U.S. money to take advantage of the increase in the currency exchange difference
	:)
<Splurge>	blimey you own a bank Niha :)	10:15
<+PapaJon>	hehe
<+KN-SR>	Exited 1/4 ES Long @ 1282.50 --> - 1282.5	10:16
<@NihabaAshi>	1.065 is a great deal right now for me in comparison to not too long ago being around 1.01
<+KN-SR>	nop
	whay what hapen
	Exited 1/4 ES Long @ 1282.50 --> + 15
	humm	10:17
	strange!
<+PapaJon>	nice one knsr
<+KN-SR>	h1
<@NihabaAshi>	Geeesh...market just throwing money to the Longs today.
<+KN-SR>	thanks
<+Splurge>	lol its not used to those numbers KN
<@NihabaAshi>	15 ES points...geesh
<+KN-SR>	:)
	we should have a big DROP LATER, i guess
<+silo>	might pull back soon here	10:18
<+szubaark>	that was a SNEAKY ramp up,especially how tjhis markey has been "behaving" lately
	proboly sucked all the Volatility out of it for rest of day
<+Splurge>	Gold refusing to drop below 850 atm	10:19
<+tzar>	Shorts ES @ 1281.50	10:20
<+KN-SR>	s.l 77.50 0.00	10:23
<+tzar>	Covered all ES Short @ 1283.00 --> - 1.5
<+szubaark>	geez, still going up. weird market
<+KN-SR>	87.25 next	10:24
<+szubaark>	NO PULLBACKS!!
<+KN-SR>	:) nop
<+Splurge>	looking a bit extended now	10:25
<+szubaark>	Shorts getitng squeezed hard today
<+KN-SR>	somo has to pay for those longs :)
	some	10:26
<+tzar>	big bids	10:27
	vs asks
	on es
<+KN-SR>	86.50 3 tick shy..........
<+ItalianSharp>	EURUSD starting to retrace a little...eminis could follow soon	10:28
<+KN-SR>	tp 87.50 +- ( + 20.00) s.l. 69.50 ( + 2.00)	10:29
	brb
<+silo>	Shorts ER2 @ 729.40	10:31
	intuition	10:32
<+KN-SR>	we will have to break 70.25 to go in a short trend	10:34
<+szubaark>	they probobly gonna squeeze Longs now and we Tank LOL	10:36
<+KN-SR>	:)
<+silo>	Covered all ER2 Short @ 703 --> + 26.4
<+szubaark>	nice silo :)
<+silo>	wait
<+Splurge>	cough
<+silo>	that's fucked up
<+KN-SR>	as i told, i thik we will see 1312.25 in few weeks
<+silo>	lol
* +Splurge	chokes on his tea	10:37
<+silo>	that's -0.7 pt
<fseitun>	nick/ ItalianSharp	10:39
* fseitun	is now known as ItalianSharp
<+silo>	wow price refusing to go down eh?	10:40
	haha
<+Splurge>	going down in stealth mode	10:41
<+silo>	i want to catch this quick pullback if it does happen
<+szubaark>	wont be easy, so does the Whole World :))	10:42
<+KN-SR>	be back later guys......good trading.......this slow connection here killing me	10:43
<+silo>	making lower high in this consolidation	10:48
<@NihabaAshi>	Long ER2 @ 729.10 -> small size	10:49
* codehead_afk	is now known as codehead	10:52
<@NihabaAshi>	Exited ER2 Long @ 729.60 --> + 0.5	10:53
	trailing stop picked pocketed :(	10:54
<+szubaark>	Looks like they used the element of surprise to squeeze Shorts :))	10:57
<ItalianSharp>	yes szu...not i am expecting chop for a couple of hrs due to the huge volatility we've had in the opening hr
<+ItalianSharp>	now	10:58
	let's not forget we are still in a bear market
	:)
	funny thing is: if eminis start to fall and downside picks up steam...this whole upmove could get retraced entirely	10:59
<+szubaark>	yup, probobly slowly,in a controlled manner, tick by tick, we start retracing some of that "Parabolic Spike"
<+ItalianSharp>	also...it's friday and i am not too sure longs want to take it over the weekend	11:00
<@NihabaAshi>	price weakness without any clues it will break down through support :(	11:05
<+silo>	Shorts ER2 @ 727.9	11:06
<@NihabaAshi>	Shorts ER2 @ 728.10 -> small size
<+silo>	Shorts ER2 @ 727.9 -> Add	11:07
	intuition	11:08
<@NihabaAshi>	Trailing stop tighten	11:09
<+KN-SR>	add 82.50 limit stop 81.25	11:10
<@NihabaAshi>	Covered ER2 Short @ 727.90 --> + 0.2	11:11
<+silo>	Covered 1/2 ER2 Short @ 728 --> - 0.1
	i'm definetly trading mroe like i used to when i was paper trading	11:12
	in and out quick
<+szubaark>	each new low in this consolidation followed by shake spikes make sure Shorts dont get in on any of the action
	Extremely Tough,nerve wrecking Price Action to finish off this tough week	11:13
<+KN-SR>	out 3/4 1283.50 + 1.00
	h 1 +7
<+silo>	even if i dont make money today... i'll be happy
	:)
<+szubaark>	Covered all Short ES at 1283.50 --> - 13 «« paper »»	11:14
<+silo>	Covered Remainder ER2 Short @ 729 --> - 1.1
<+szubaark>	yeah i got caught
	Buys ES @ 1283.50 «« paper »»
	c'mon lets rally another 15 Points with no pullbacks, i need the frikin points LOL	11:22
<bazooka85>	hi all	11:25
<Bambam-77>	holding here for drive to 1288 posibly 112.5 degrees gann	11:26
<+szubaark>	just watching Paint dry last hour and a half	11:27
<+bazooka85>	currently short @1282.75 <<paper>> looking for any channel breaks, have reverse set	11:28
<+szubaark>	Im Long,trend is up :))	11:29
<+bazooka85>	ive got my stops set ;)	11:30
	long reverse 1284.25	11:33
<+KN-SR>	out 1 1284.50 + 2.00 H 1 + 6
* anglo	is now known as a	11:34
<@NihabaAshi>	ER2 back within that tight trading range above the support area	11:35
	Shorts ER2 @ 729.40 -> small size	11:37
	1 only	11:38
<+bazooka85>	added long avg 1283.75
	:(	11:39
<+silo>	nice early entry niha	11:41
	Shorts ER2 @ 728.40
<+szubaark>	Exited all Long ES at 1282.50 --> - 1 «« paper »»	11:46
	Shorts ES @ 1282.50 «« paper »»
<@NihabaAshi>	Covered ER2 Short @ 728.30 --> + 1.1
<+KN-SR>	we finally may going south	11:47
<+silo>	KN has blown the whistle.... time to send the army in	11:48
	:)
<+KN-SR>	we need to break 70 area first to be officially in a downtrend
	i wont take a short unless its <70
<@NihabaAshi>	2nd time it has dropped below that support level	11:49
<+KN-SR>	well, thats just my idea........i still have long open
<@NihabaAshi>	ES pullback looks to be getting weaker	11:50
	volatility contracting
	Will try to jum on on downside volatility spike that may occur soon.
	If nothing happens soon...I'll take a lunch break	11:51
<+silo>	$tick might go below 0
<Trader>	why 70 KN?
<+silo>	very soon
	it's in a downtrend