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#FuturesTrades August 10th Friday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+15.10	+179.80	+2165.00
$1,510	$17,980	$216,500

Profitable Trade

1157am - 12noon est

Losing Trade

1130am - 1137am est

click on image to view actual size

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

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: Fri Aug 10 09:27:24 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

<Joye> gm all

<jperl> no trades for me today 09:28

<eminime68> gm

<jperl> Have other things to take care of

<pat255> gm all

<NihabaAshi> Market still upset about all the credit problems 09:30

<PapaJon> so am I 09:31

<ripsboy> Good Morning Everyone...

<NihabaAshi> All the cash injections is spooking traders.

<PapaJon> has put one of my projects on hold midstream

<doublejay> gm

<base> GM 09:32

<NihabaAshi> Shorts ER2 @ 773.30 -> small size

Shorts ER2 @ 773.50 -> Add 09:34

2 contracts now 09:35

oh oh...volatility dropping fast. 09:36

Preparing to reverse my trade if needed

<base> Is someone else experiencing problems with IB data feed and/or charting? 09:37

<PapaJon> is fine here.. data anyway 09:38

<base> thanks

<PapaJon> yw

<NihabaAshi> Covered 1/2 ER2 Short @ 772.40 --> + 1.1 09:39

<PapaJon> man.. bronco ride 09:40

<Joye> no problems with IB data at all

<NihabaAshi> Covered Remainder ER2 Short @ 773.20 --> + 0.1

Too jumpy for me and volatility is still dropping. 09:41

Will stay sidelined and wait for a volatility spike to shake things up.

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)

<ItalianSharp> ER2 is holding up well so far 09:42

either other eminis rebound quickly, or ER2 will break down soon

<Brutus> Vix 29.3 09:43

<NihabaAshi> Yeah...the VIX spike up implies we're going to have a fun "volatility trading day" :) 09:46

However, so far...no volatilty spikes :( 09:47

<Brutus> MACD boys are waiting for a bullish div when ES makes a new low < 1432.25 09:48

<NihabaAshi> Long ER2 @ 776.50 -> small size 09:50

1 only and missed 775.50 for 2 contracts

:(

<pdays> Long ER2 @ 776.2 09:51

Exited all ER2 Long @ 776.5 --> + 0.3

<NihabaAshi> volatility spike

<ItalianSharp> that's only for ER2 niha...other eminis are still sleeping 09:52

<NihabaAshi> I'm trying hard to hold onto this Bronco...she's bucking good.

<PapaJon> sure is jittery 10:00

<NihabaAshi> Exited ER2 Long @ 780.20 --> + 3.7 10:01

<szubaark> nice Niha

<pat255> n 10:02

<NihabaAshi> I almost got bucked around the 778.00 price area... 10:04

I think I lost a shoe spear.

:)

<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) 10:05

<PapaJon> this was quite interesting... the last 10minutes,

the price continued to rise even tho the sellers outweighed the buyer 10:06

buyers

so.. in essence a divergence between priceaction and the type of volume 10:07

<ItalianSharp> papa, how do you measure buyers vs sellers? do you have market delta? 10:08

<PapaJon> yes

will post a chart

<ItalianSharp> well, market delta wasnt lying...:)

<PapaJon> http://www.veritashomeinspection.com/pj1 .jpg 10:09

notice the four horizontal rows at the bottoom... the 10:10

2nd from the top represents who is winning the tug- o - war

dark red means more sellers, dark blue means more buyers 10:11

the number represents how many more sellers than buyers, etc

the gold row represents total volume

<eminime68> how do you set up the chart?

<ItalianSharp> wow...looks like sellers kept shorting while ER2 kept rising

<PapaJon> eminime, marketdelta has instructions on how to set it up, and a forum 10:12

right IS

<eminime68> marketdelta.com?

<PapaJon> is exactly what i was getting at

yes eminime

<eminime68> thx

<PapaJon> i belive that MD is about the best charting program available for detailed volume analysis 10:13

<ItalianSharp> papa...are there times when prices keep rising, sellers winning the volume battle...and eventually giving in? i mean...how often does market delta fails?

<NihabaAshi> Be back later.

* NihabaAshi is now known as NihabaAshi_away

<PapaJon> IS... md fails all the time.. as does any method of trading... 10:14

<ItalianSharp> yeah...let me reformulate my question:

<PapaJon> the trick is learning how to combine md info with candlestick info with everyting else that you know and have learned over the years

<ItalianSharp> are there any reliable setups for price vs volume divergence? something that when you see it, you jump on it 10:15

right...i think that's the best answer

market delta is just an additional tool

<PapaJon> yes, in fact md on their website shows examples of setups.. but i have not tested their setups...

<ItalianSharp> so that if you were long and saw this type of price vs volume divergence...mmm, maybe its a good time to get out 10:16

whereas...if you had a short setup...it'd be a good time to short

<PapaJon> I have established a couple of methods/patterns in combo with candlestick charts that

give me a win/loss ratio about 87%, my problem is that my stops have to be quite wide and 10:17

I am underfunded

so it limits me

the last week has be very good for my systems... but the previous three weeks were horrible

<eminime68> please share your methods/patterns with us 10:18

<PapaJon> i have extensively tested this over the last 1-1/2 year and it seems quite consistent...

but

<ItalianSharp> i see...well, we all have ups and downs papa...why were the previous three weeks horrible? were you able to spot clear reasons for that?

<PapaJon> it is only consitent if I can trade light I am a computer... which is, as we all know,... imposible 10:19

no IS, I have not been able to identify why there are bad days, even tho the signals were good... it seems tojust happen

eminime... for now, my methods are private 10:20

sorry

<eminime68> that's ok, papa 10:21

<PapaJon> believe it or not... I have not been that profitable this year

my emotions have really f---d with me

<ItalianSharp> papa, if the system didn't work well for 3 weeks...well, that's not 3 days...it's 15 trading days...which means market conditions were such that made it impossible for the system to work well...i think it'd be worth spending some time and try to figure out what market conditions tend to change your performance

<PapaJon> have had a lot of business stress and losses trading that have totally messed me up 10:22

i agree IS

<eminime68> I totally know what you mean

a losing day can mess up the rest of the day 10:23

<PapaJon> the odd thing is.... even tho the system seems consitent.. i tend to hesitate and make horrible trade management mistakes

<szubaark> u just need more screen time like we all

<eminime68> it happens to all of us before 10:24

<sep34> Papa the trades that did not work out during the past three weeks were they mostly bullish signals?

<eminime68> and even now...sometimes

<ItalianSharp> papa, the thing is: does the system fail because you fail to apply it properly or does it fail on its own?

<PapaJon> well.. as an example of business stress... the home we just started for a client, the lender "American Home Mortgage", just filed BK, meaing that the

construction funds have been put on hold

so the project stops.. and the cashflow stops

sep34... i am not sure 10:25

my setups are not one or the other.. bulish or bearish

<sep34> r u a reversal trader??

<PapaJon> the work in both directions

<eminime68> Papa, where are you located? 10:26

<PapaJon> i have a reversal setup and a continuation setup

California

<eminime68> what city?

my house needs remodeling

<PapaJon> in the foothills near Sacramento

<szubaark> Shorts ES @ 1441.50 «« paper »»

<PapaJon> hehe... 10:27

where are you eminime

<eminime68> San Jose

<PapaJon> ah.. my old stomping grounds,

I grew up in Campbell

<eminime68> ic

How long have you been trading?

<szubaark> Covered all Short ES at 1439.75 --> + 1.75 «« paper »» 10:28

<PapaJon> approx 4 1/2 years

<eminime68> nice, szu

<szubaark> thx.. got the volatility to help me

<PapaJon> i would call it.. studying and practicing to trade

<szubaark> Papa how long uve been at this racket? 10:29

<PapaJon> i am hoping for this year to be my coming out year (profitwise)

[07:28] <PapaJon> approx 4 1/2 years

<eminime68> we all pulling for you, papa

<szubaark> you still a newbie then, just kidding :)) 10:30

<PapaJon> eminime... the most valuable information that i have learned and applied to my methods, I learned from Niha and his reports

<eminime68> There are plenty of money to be made in the market.....just need to be patience and smart

<PapaJon> yah. i gotcha szu 10:31

<eminime68> i am still learning Niha method....not quite there yet

<PapaJon> been in this room bout 2years I think.. szu.. u an oldtimer inthis room .. right?

<szubaark> ive been around 3-4 years... me and eminitrader are the only ones left :)) 10:32

<eminime68> wow....I've only been to this room for 1 month and I am loving it

I hope to stick around for many more years to come 10:33

<PapaJon> eminime... I have been in several rooms over the years... This one of the best and most polite rooms around 10:35

there are a couple others as well.. but Niha's is, imo, the best one

<ItalianSharp> what's up with eminitrader? 10:36

<PapaJon> szu.. you hear from him lately? 10:37

<szubaark> i lost his email so cant email him..but he never said goodbye

<Brutus> I'm looking for one of those ugly capitulation lows < 1432 and hopefully a very sharp reversal on high volume, if so it will be a massive rally

<szubaark> thats why its strange.. i hope hes alright. Niha will email him this weekend i think

<PapaJon> without any details eminime, we just had one of my continuation signals, entry at 10:38

773.9 at approx 10:32 est 10:39

<eminime68> nice

<PapaJon> which i did happen to catch,, :))

tx

which finally put me back in the black for this morning 10:40

had a couple of bad trades earlier

<eminime68> papa, pretty soon you will forget about your construction business

<PapaJon> well.. thats my plan 10:41

I actually really like designing and building, working with my hands.. but

<eminime68> nothing better than counting money? :-)

<PapaJon> have had to deal with to much uncertainty and jerks and red tape

dont understand eminime 10:42

<eminime68> if you become a sucessful trader...that's what you do at the end of the trading day

....counting money

<PapaJon> ah.. yes 10:43

is crazy... cuz... based on my stats (on paper) ... trading 3 contracts of er2, 10:44

if traded exactly correctly and live, i would have made just over 200k so far this year

key words ... TRADED EXACTLY CORRECTLY 10:45

hehe

<eminime68> paper trading and real money trading are two very different things....trust me 10:46

<PapaJon> it just goes to show you that even tho the stats and studying may be good, doesnt mean you can actually do it live

bbiafms

<szubaark> yes u also got the managment (entry and exit) :)) 10:47

<eminime68> you need to learn to control your emotions 10:48

<szubaark> and technicalities (internet,computers) and emotional issues

<eminime68> 80% is emotional 20% technical 10:49

If you can control yourself...you are on your way to become a good trader

* NihabaAshi_away is now known as NihabaAshi 10:54

<PapaJon> back 10:56

exactly.. szu and eminime

but.. i would actually say the psycology is 95% 10:57

<szubaark> yeah..but u still need a Proven method then your psyychology improves

<PapaJon> right szu.. thats the other 5% 10:58

of course.. i suppose thats a person to person thing

some people make better gamblers than others

<szubaark> ?

<PapaJon> my sister cant understand how I can build spec homes.. because its "SUCH A GAMBLE" 10:59

to her.. the fear is much greater issue than with someone else

<Brutus> 08/10/2007 10:53 GEN: Fed arranges weekend repos, its second operation today-Bloomberg - Bloomberg reports the Fed Funds rate trades at 5 3/8, above the Fed target.

<PapaJon> szu.. the psychology of gambling is similar to in trading... and 11:00

some people deal with their emotions better than others

A friend of mine is a sports gambler... is actually known as one of the best in the world 11:01

bets on college basketball and football and NBA

his psychology is in much better control than mine.. thus he is 11:02

better gambler than others

i may not have worded that quite right.. but i think youknow what i mean 11:04

<NihabaAshi> Shorts ER2 @ 785.40 -> small size 11:13

1 only and poor entry 11:14

looking for a lucky exit

Covered ER2 Short @ 787.00 --> - 1.6 11:15

Reverse and Enter Long ER2 @ 787.00

Damage control kicked in.

Exited ER2 Long @ 787.40 --> + 0.4 11:16

Shorts ER2 @ 787.20 -> small size

Exited ER2 Long @ 787.90 --> + 0.7 11:17

Reverse and Enter Short ER2 @ 787.90

<szubaark> Shorts ES @ 1449.25 «« paper »» 11:18

<NihabaAshi> Ooops...I'm Long and that's a loss of -0.7

Long ER2 @ 787.90 -> small size

correction made

<szubaark> Covered all Short ES at 1449.25 --> 0 «« paper »» 11:19

too fast

i had shitty entry anyways

<Brutus> 08/10/2007 11:17 GEN: US Fed Funds no trade at 5.25% in market, matching tgt rate aftermath of 2nd Repo - This is being reported by Reuters. 11:20

<NihabaAshi> Exited ER2 Long @ 787.80 --> - 0.1 11:21

bronco buck

Long ER2 @ 786.30 -> small size 11:24

2 only

Exited all ER2 Long @ 787.40 --> + 1.1 11:25

<szubaark_away> Buys ES @ 1447.50 «« paper »» 11:26

Exited all Long ES at 1445.50 --> - 2 «« paper »» 11:28

<Brutus> 08/10/2007 11:27 GEN: White House says Bush is "keeping a close eye on the economy"-Reuters

<szubaark_away> Buys ES @ 1446 «« paper »» 11:29

<Brutus> ES going to go down now :))

<NihabaAshi> Long ER2 @ 788.00 -> small size 11:30

<szubaark_away> Exited all Long ES at 1444 --> - 2 «« paper »»

:(( 11:31

Shorts ES @ 1444 «« paper »»

<NihabaAshi> Too much of a fight in ER2 betwee 786 - 788 11:32

Long ER2 @ 786.00 -> small size 11:33

Buy 786 and sell 788 until it stops working :)

exit stop raised ER2 @ 786.20 11:34

:( 11:37

Trailing Stop Hit ER2 @ 786.20 --> + 0.2

It almost worked.

<szubaark_away> :)

<NihabaAshi> Geesh...is someone talking on TV. 11:41

???

ER2 voltility has come to a crawl as if every body is watching someone on TV instead of trading.

<PapaJon> yah.. is weird 11:43

<NihabaAshi> We got ome some volatilty 11:57

Long ER2 @ 790.10 -> small size

2 only

Exited 1/2 ER2 Long @ 792.30 --> + 2.2 11:58

Exited Remainder ER2 Long @ 795.70 --> + 5.6 12:00

That's one BIG White WRB

It got so big I got lost in the price action.

My profit target goal for today was on $500 and I've exceeded that. 12:02

Thus, I'm officially in profit protection mode (1 contract only for the remainder of the trading day). 12:03

<PapaJon> OK... i have to leave now to jobsites.... heres my trades... 12:05

http://www.veritashomeinspection.com/pj1 .jpg

just when things are starting to get interesting

I will be gone all next week. 12:06

taking a break, going to Loreto Mexico for some r&r, sport fishing and scuba diving

Anyway... everyone have a good weekend and good next week. Take Care!

<base> Take a care papa. 12:07

<PapaJon> thnx base

<szubaark_away> bye

<PapaJon> bye szu

hope i dont get swallowed by a whale shark...

j/k ... hehe 12:08

<base> lol

<PapaJon> but i do hope to see one

<NihabaAshi> Take care PapaJon and have fun. 12:10

<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) 12:11

<PapaJon> thnx niha bye 12:14

will share some pics when i get back 12:15

...if i come back

<Pepe> take care PepaJohn 12:16

<NihabaAshi> Missed the Hammer on the 2min chart :( 12:18

Time for lunch anyways.

* NihabaAshi is now known as NihabaAshi_away

<Pepe> :) 12:19

<Brutus> ER up 30 points, not a day to fade it :) 12:21

Above Yest HOD

* codehead_afk is now known as codehead 12:22

<ItalianSharp> papa, you still in the room? 12:51

<AusTrader00> gm..traders.. 13:10

<Pepe> hi AusTrader 13:19

<Brutus> GM AT 13:29

08/10/2007 13:34 *DJ Fed Sets 3-Day RPs 13:36

<AusTrader00> how's everyone trading today..... i missed half the action already :(

<Brutus> Its very quiet in here, shhh :) 13:37

<Pepe> Is time for lunch 13:38

:)

But I am long on NQ :)

<Brutus> With these mad swings , you cant even blink, very hard to trade it 13:39

and at some sweet setups my computer is freezing up with all the volume 13:40

<Pepe> yes

<Brutus> Its time to upgrade, dont know if it will improve my trading 13:41

<Pepe> I will exit soon

But I can not give the colour text with trade 13:42

I dont know how I active the script 13:43

* NihabaAshi_away is now known as NihabaAshi 13:46

<NihabaAshi> Pepe...all the info you need about the script is here...

http://thestrategylab.com/forum/index.ph p?topic=32.0

<Pepe> thank you

I will try it

<NihabaAshi> Shorts ER2 @ 787.50 -> small size 13:47

Covered ER2 Short @ 785.80 --> + 1.7 13:50

<Pepe> nice trade

<NihabaAshi> Long ER2 @ 787.10 -> small size

<Pepe> after lunch trade 13:51

<NihabaAshi> Got a lucky drop because there was some good support via a Hammer Line

Long should have been around 786.40 but was a little slow 13:52

<Pepe> on 3 min chart? 13:53

<NihabaAshi> That stinks 13:54

<Pepe> yes 13:55

<NihabaAshi> Gotta give it a little room because of the extra volatility.

<Brutus> 08/10/2007 13:53 *DJ Fed Accepts $3 Bln In 3-Day RPs

<NihabaAshi> Long ER2 @ 786.50 -> Add

<Brutus> Fed adds 34B today and 24B yesterday

<Pepe> wow

Where have you stop loss? 13:56

where do you have a stoploss? 13:57

<NihabaAshi> Exited 1/2 ER2 Long @ 787.40 --> + 0.9 13:58

Exited Remainder ER2 Long @ 788.30 --> + 1.2 14:00

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={eda27 fdf-16a0-45e8-9a91-8b284121608f} 14:01

<NihabaAshi> Pepe...my initial hard stop was via the price action low of 1111am est @ 783.50 14:03

My mental stop was around 784.40 and I almost got bucked out of the trade at that point. 14:04

Wish I had gotten bucked because I would have gone Long again around 785.00

I'm also using the 1 min chart today to test handling better these fast price moves in ER2 14:06

The 2min, 3min and 5min chart has been too much of a problem for me in the afternoon trading session with this type of high volatility price action.

Today was bit of an experiment via the 1 min chart...reason why I lowered my profit target goal down to only $500 bucks. 14:07

A lot of traders aren't use to this type of volatility... 14:08

I've seen it before many times many many years ago...

My trading notes back then shows me using the 1min charts.

I normally don't recommend the use of the 1min chart but this volatility may require such. 14:09

Simply, I'm adapting as required when market conditions change. 14:10

<Pepe> ok thanks 14:14

But why your initial hard stop was via the price action low of 1111am est @ 783.50?

<NihabaAshi> Look at the time I gave. 14:15

<Pepe> Because there is WRB?

<NihabaAshi> Swing point back upwards

<Pepe> ok 14:16

<NihabaAshi> Like I said many times in here...I rarely let the market hit a wide stop I have in place... 14:17

<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)

<NihabaAshi> I usually reverse prior or take the loss much earlier or ADD because the price action change to my favor. 14:18

<Pepe> thank you 14:20

<NihabaAshi> We just dropped into a s/r zone

It bounced out of it too fast for me to get Long at a decent price :( 14:21

You gotta have like professional baseball batting skills to hit these fast balls :) 14:22

<base> lol

<NihabaAshi> They're also throwing a lot of pitches too close inside. 14:23

<GoodMood> I'm sure there will be a homerun for you !

<NihabaAshi> I wish there was a indicator that can convert how fast ER2 moves and convert it into Miles Per Hour (mph) speed :) 14:24

Will be very curious about the numbers.

<GoodMood> maybe the ATR 14:25

<ItalianSharp> it's like batting against against roger clemens

<NihabaAshi> Volatility dropping fast...

Expecting another volatility spike here soon. 14:26

<Brutus> ER NQ in a nice range for a break out, if its down new lows by EOD

<NihabaAshi> Long ER2 @ 788.60 -> small size 14:28

exit stop raised ER2 @ 786.70 14:29

Exited ER2 Long @ 787.30 --> - 1.3 14:30

Reverse and Enter Short ER2 @ 787.30

Too close to that support level...need for the support to fail to get a profit out of this Short. 14:31

Shorts ER2 @ 787.70 -> small size 14:32

That's an ADD 14:33

Covered ER2 Short @ 785.80 --> + 1.9 14:36

Holding 1 contract remainder

Covered ER2 remainder @ 786.70 -> +0.6 14:37

Long ER2 @ 786.40 -> small size

<szubaark_away> Pattern or "intuition"? 14:38

<NihabaAshi> Pattern

<Pepe> What pattern? 14:39

wrong room

<NihabaAshi> Using that same wide stop @ 783.50

<Pepe> ok

<NihabaAshi> :( 14:40

Lost support from Oil and Gold...looking to dump this fast 14:41

Exited ER2 Long @ 787.10 --> + 0.7

<Brutus> 08/10/2007 14:39 HOT: Countrywide Financial-CFC CEO says Fed move may bolster confidence-Bloomberg

ES is very news responsive 14:42

<szubaark_away> that WRB is getting retraced FAST 14:44

you need jet fighter pilot like reflexes for this volatility

<NihabaAshi> This is where the advantage of "Volatility Analysis" comes into play during high volatility trading conditions. 14:45

Gold and Oil now supporting ER2 14:47

Be back later...I have baby sitting duties until 3:30pm est and kids just woke up from their afternoon nap. 14:50

* NihabaAshi is now known as NihabaAshi_away

<Brutus> Trying a trading method... 14:56

Shorts ES @ 1448 «« paper »»

<szubaark_away> Im all ears.

<Brutus> Covered 1/2 ES Short @ 1446.75 --> + 1.25 «« paper »» 14:57

WRB Analysis

Learn More

<codehead> this smacks of setup for dow to move up last hour

3-hour coil 14:58

long YM 13190 <paper>

possible dow 13100 retest coming, but i think gets bought--saving actual cash for that 14:59

big fight, cuz if dow moves up a bit, dow dbl bottom in--if not, breakdown 15:00

talking about dbl bottom on daily, close-basis 15:01

<Brutus> Covered all ES Short @ 1448 --> 0 «« paper »» 15:04

Long ES @ 1452 «« paper »» 15:06

Exited all ES Long @ 1451 --> - 1 «« paper »» 15:07

<codehead> support held on YM, getting late--i think up

exit half YM +50 <paper> 15:10

late, typed in wrong room

that was target 1--target 2 is 100

dow at previous low close right here 15:11

key point

should make a run at breaking downtrend here 15:15

<Brutus> fell 3 pts on 1k ES 15:17

Shorts ES @ 1450 «« paper »» 15:19

Covered 1/2 ES Short @ 1449 --> + 1 «« paper »»

Covered all ES Short @ 1450 --> 0 «« paper »» 15:21

looks like the dip was the shake out 15:25

the las 1/2 hour could be explosive, i'm thinking long out of this range 15:26

<codehead> ya 15:27

dow holding the key point

i think it pops the close 15:28

<Brutus> Long ES @ 1456 «« paper »»

<codehead> toda

ta-duh

<Brutus> Long ES @ 1458 -> Add «« paper »»

Long ES @ 1459 -> Add «« paper »» 15:29

Long ES @ 1450 -> Add «« paper »»

<codehead> target hitm out YM paper +100

<Brutus> etc etc etc :))

computer frozen :( 15:31

<codehead> man, this was my scenario for past several hours, but had phone calls on the last two dips, didn't get my entry

now dow just needs to close above 13181 15:32

looking like a lcok

lock

<AusTrader00> what just happneded at the market .. lol 15:34

<Brutus> Exited 1/2 ES Long @ 1462 --> + 12 «« paper »» 15:35

last add should be 1460

Exited 1/4 ES Long @ 1466 --> + 10 «« paper »» 15:37

Exited all ES Long @ 1462 --> + 6 «« paper »» 15:38

<AusTrader00> Nice job. 15:56

* NihabaAshi_away is now known as NihabaAshi 15:57

<NihabaAshi> Shorts ER2 @ 792.40 -> small size 15:58

<AusTrader00> Nice time to come back :P 15:59

<NihabaAshi> Covered ER2 Short @ 791.50 --> + 0.9 16:00

Geesh...it got crazy.

Long ER2 @ 791.60 -> small size 16:02

got my order in 16:03

Exited ER2 Long @ 790.20 --> - 1.4 16:04

<Brutus> Shorts ES @ 1456.25 «« paper »»

Covered 1/2 ES Short @ 1454.25 --> + 2 «« paper »» 16:06

<NihabaAshi> Long ER2 @ 789.70 -> small size

oh oh

<Brutus> Covered all ES Short @ 1456.25 --> 0 «« paper »» 16:07

<NihabaAshi> Exited ER2 Long @ 790.10 --> + 0.4 16:08

Long ER2 @ 790.10 -> small size 16:09

selling into the weekend ?

<codehead> whew, thought Ym might get a dip after cash close, had an order in at 51, 1 30-40 point drop--it hit 39 16:11

bounced tho, i got a scalp

<NihabaAshi> stopped out :(

Exited ER2 Long @ 789.10 --> - 1 16:12

<codehead> it think some are paranoid that dow closed red, though the key level was held, potential double bottom--likely to hold now i think

but yeah, nervous on weekend

<NihabaAshi> :)

Will take a few more trading days to get comfortable with the 1min chart after 3:30pm est... 16:13

So far, too fast for me.

<codehead> miffed at self, let phone calls keep me form getting entry i wanted, then passed higher when it was a lock

but got 18 ticks, paid for charts anyway

Ym dumpage

back near the breakout 16:14

hit it

<Brutus> US STOCKS ATTEMPT COMEBACK IN VOLATILE SESSION

Shares remain lower in a roller-coaster day of trading and after a rare third repo move by the Fed to add liquidity into the market, bringing the total injection to $38 billion today. The third injection raises questions about how soon the Fed might cut interest rates.

FED JOINS OTHER CENTRAL BANKS, INJECTS LIQUIDITY

Fed says it is 'providing liquidity to facilitate the orderly functioning of financial markets.' It accepts a total of $38 billion in three-day repurchase agreements, all mortgage-backed collateral, following another move by the ECB to inject liquidity.

<NihabaAshi> Overall still a good trading day (exceeded my profit goals).

<Brutus> ============ U.S. MARKETS ACTION ===========

DJIA down 10.82 points to 13262.71

NASDAQ down 10.17 points to 2546.32

S&P 500 up 2.73 points to 1465.68

10-year T-note down 7/32 at 99 20/32 yield 4.797

NYMEX Spot Crude up $0.16 at $71.63/bbl

<codehead> YM stupid cheap here

<Brutus> Dollar/Euro up 0.0017 at 1.3695

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

<codehead> but i avoid trading this late friday

you too

<Brutus> cul8r 16:15

<codehead> wow, Ym hit 13231

58 point drop form cahs close

cash 16:16

ridiculous

* NihabaAshi is now known as NihabaAshi_away 16:34

* DisconnectedSession Close: Fri Aug 10 23:34:42 2007 23:34

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