#FuturesTrades August 11th Monday 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: Mon Aug 11 07:56:40 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	07:56
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<silo>	was there news at 8.30?	08:36
<@NihabaAshi>	Only in Canada	08:38
	New Housing Price Index report @ 0830am est here in Canada
<@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
<rickf>	gm all	08:50
<bazooka85>	good morning!	08:52
<+rickf>	gm
<+bazooka85>	oil tanking before hours	08:53
	NihabaAshi what is your main minute chart for trading /w candlesticks	09:06
<futurible>	GM ALL	09:11
<bazooka85>	hiii	09:18
<+tzar>	gm all	09:21
<drt>	gm guys	09:23
<+tzar>	hey	09:24
<+rickf>	gm
<ItalianSharp>	gm	09:25
<@NihabaAshi>	bazooka, I have no favorite because on my monitor I have 1min, 2min, 3min, 5min and 15min charts.	09:29
<Nesi>	Shorts ER2 @ 734.00	09:30
<@NihabaAshi>	Simply, I don't limit myself to ONE chart interval only because that will reduce the number of trade opportunities.
<+rickf>	short e 1291.75	09:31
	stop 93
<+tzar>	woohoo i beat rick with my enter... 1292.00	09:32
	:)
<bazooka85>	nice
<+rickf>	not a race
<+silo>	Shorts ER2 @ 733.4
<+rickf>	:)
<+tzar>	:)
<+bazooka85>	yeah i was switching back and forth between 1,5,10,15 charts
<+tzar>	im waiting for 88	09:33
<+bazooka85>	because i dont have 10 screens that globe me ;)
<@NihabaAshi>	Shorts ER2 @ 733.20 -> large size
	late confirmation
<+tzar>	niha where did you go on your month long vacation?	09:34
<@NihabaAshi>	Covered ER2 Short @ 734.10 --> - 0.9	09:35
<Baxwill>	opening choppy	09:36
<@NihabaAshi>	Shorts ER2 @ 733.70 -> large size	09:37
<szubaark>	Buys ES @ 1293.25 «« paper »»	09:40
<@NihabaAshi>	Covered ER2 Short @ 735.10 --> - 1.4	09:41
<+Nesi>	Shorts ER2 @ 735.00 -> Add	09:42
<@NihabaAshi>	Shorts ER2 @ 735.00 -> large size
<+szubaark>	exit stop moved to breakeven ES @ 1293.25 «« paper »»	09:44
	Exited all Long ES at 1293.25 --> 0 «« paper »»
<+rickf>	short dax 6614 paper	09:45
<@NihabaAshi>	Covered ER2 Short @ 735.40 --> - 0.4
<kosmipt>	oil's going back down
<+szubaark>	easily to get shaken out due to the pinball action
<+Nesi>	Covered ER2 Short @ 736.20 --> - 2.2
	Reverse and Enter Long ER2 @ 736.20
<+silo>	Covered ER2 Short @ 736.3 --> - 2.9
	Reverse and Enter Long ER2 @ 736.3
<+szubaark>	Buys ES @ 1294.75 «« paper »»	09:46
<+rickf>	out at 6616.50 -2 5 paper
<+Nesi>	Exited ER2 Long @ 736.60 --> + 0.4
	Reverse and Enter Short ER2 @ 736.60
	735.60 that is	09:47
<+silo>	Exited all ER2 Long @ 735.4 --> - 0.9
<@NihabaAshi>	Shorts ER2 @ 735.20 -> large size	09:48
<bazooka85>	ES short 1294.25
<+silo>	Shorts ER2 @ 734.10	09:51
<+rickf>	short es 1293.50 sm sz	09:52
<+szubaark>	exit stop moved to breakeven ES @ 1293.25 «« paper »»	09:53
<@NihabaAshi>	Covered ER2 Short @ 733.80 --> + 1.4
<Brutus>	http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={14f18 5cf-8e79-49aa-8bff-df964a15125c}
<dan>	Long ER2 @ 734.25	09:54
<+silo>	Covered all ER2 Short @ 734.70 --> - 0.6
<+dan>	Exited 1/3 ER2 Long @ 735.20 --> + 0.95	09:56
	wrong
	Long ER2 @ 734.20	09:57
	Exited 1/3 ER2 Long @ 734.70 --> + 0.5
<+silo>	Long ER2 @ 735.1
<+szubaark>	price just creeping slowly higher, still no Volatility spike
<@NihabaAshi>	Long ER2 @ 735.00 -> large size
<+silo>	Long ER2 @ 735.1 -> Add	09:58
<+szubaark>	exit stop moved to breakeven ES @ 1294.75 «« paper »»	09:59
<@NihabaAshi>	Exited ER2 Long @ 736.30 --> + 1.3
<+dan>	Exited 1/3 ER2 Long @ 736.20 --> + 2
<+szubaark>	Niha, you doing all Large Size this morning?	10:01
<+dan>	735.90 <--- add	10:02
<@NihabaAshi>	Yeah but time is running out here fast...volatility is going to start declining which always forces me to drop my position size.
	Would like to be profitable before volatilty drops
<+dan>	Exited 1/4 ER2 Long @ 736.40 --> + 2.2	10:04
<Alturus>	how many contracts is considered large size for you niha?
<@NihabaAshi>	6 to 9
<+szubaark>	Exited all Long ES at 1295.75 --> + 1 «« paper »»	10:05
<@NihabaAshi>	Shorts ER2 @ 736.40 -> medium size
	too much of a fight in ER2 to stay up	10:06
<+dan>	Exited 1/4 ER2 Long @ 736.90 --> + 2.7	10:07
<+silo>	are all of these intuition?
<bazooka85>	long 1295.50	10:09
<+dan>	736.40 <--- add	10:10
	Exited 1/4 ER2 Long @ 736.90 --> + 2.7
<+silo>	749 is a resistance for er2
<@NihabaAshi>	Covered ER2 Short @ 736.60 --> - 0.2
<+silo>	maybe it wants to test that area
<+dan>	735.90 <--- add	10:16
<+szubaark>	Buys ES @ 1297 «« paper »»	10:17
<+dan>	Exited 1/3 ER2 Long @ 736.90 --> + 2.7
	+4
<+bazooka85>	damn i wish i had the scripts :D	10:18
<+szubaark>	looking more and more like we'll see ES 1300	10:19
<+dan>	Exited 1/4 ER2 Long @ 737.90 --> + 3.7	10:20
	+3
<+bazooka85>	exited long +2.75
<+silo>	target is around 747, 749	10:21
<+bazooka85>	short 1298.00 tight stops <<paper>>	10:23
<+dan>	Exited 1/4 ER2 Long @ 739.90 --> + 5.7	10:24
	+2
<+bazooka85>	nice dan!	10:25
<+szubaark>	Exited all Long ES at 1297 --> 0 «« paper »»
<@NihabaAshi>	bazooka...script is posted in the same thread as the password at the forum.	10:26
<timmyb>	thank you niha i was looking fro it also and could not find it
<+bazooka85>	alright thanks niha
<@NihabaAshi>	http://thestrategylab.com/forum/index.ph p?topic=32.0	10:27
<+timmyb>	well thats even better
	thanks again niha
<@NihabaAshi>	Password, log-in instructions, script and installation instructions "all" at that same link.	10:28
	:)
<+rickf>	short es 1297 sm sz	10:29
<@NihabaAshi>	Shorts ER2 @ 738.40 -> medium size
<+timmyb>	Short er2 at 738.50	10:31
	was filled afew mins ago
	paper
<@NihabaAshi>	Too many traders watching the Olympics :)	10:32
<+dan>	737.90 <--- add	10:34
<@NihabaAshi>	Covered ER2 Short @ 738.10 --> + 0.3
	volatility declining and last two trades shows the result of such	10:35
<+szubaark>	even the small Volatility spikes we get are short lived
<bazooka85>	hmm	10:38
<timmyb>	to use the script you just type then it colors it??	10:40
<@NihabaAshi>	There's instructions on how to use the script and it does "automatically" colors it when you enter a trade info	10:43
	Just do a quick trade test via the script after you install it...there's instruction on how to post a trade at that same link.	10:44
<bazooka85>	alright brb
<+timmyb>	ahhh i am sorry niha
	i apologize for being a distraction
<+rickf>	back later - gym time, maybe get to clear my head
	oh -- exited es short 1296 +1	10:45
<+szubaark>	Buys ES @ 1297 «« paper »»
<+rickf>	back later
<bazooka85>	Long ES @ 10	10:47
<+bazooka85>	got it*
	test
	Exited all ES Long @ 11 --> + 1	10:49
	sweet :D
<+timmyb>	Covered all ES Short @ 738.50 --> + n/a «« paper »»	10:51
<@NihabaAshi>	ER2 needs to retest 739.50 and get above it or else it's in a lot of trouble
<@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
<+szubaark>	Exited all Long ES at 1298 --> + 1 «« paper »»
	Im lowering my Profit Targets due to this low Volatility	10:52
<+timmyb>	Long ES @ 739.40 «« paper »»
	ER
	Exited all ER2 Long @ 738.7 --> - 0.7 «« paper »»	10:53
<@NihabaAshi>	Shorts ER2 @ 738.80 -> small size
<+timmyb>	nice candle forming here
<@NihabaAshi>	It couldn't stay above and will watch closely to see if it can fight to get back up there while in this short	10:54
	Low volatility trades with not much potential unless some surprise volatility shows up	10:55
<+timmyb>	Shorts ER2 @ 739.00 «« paper »»
<@NihabaAshi>	This is where KN shows good patience
	Type of patience I usually don't have in situations like this
<+timmyb>	that is one thing i am trying to work on also niha	10:56
<+Alturus>	me too =)
<@NihabaAshi>	Covered ER2 Short @ 739.40 --> - 0.6
<+szubaark>	just no conviction either up or down	10:57
<+timmyb>	reverse
	something interesting to me is that the volume was on the ask side last 10 mins, might be good insight
<+bazooka85>	Paper Trading Mode: ON	10:58
<+timmyb>	been trying to watch volume more carefully lately more on the ask and bid side trying to see hidden cumulation
<@NihabaAshi>	Long ER2 @ 739.60 -> medium size	10:59
	volatility starting to decline :(	11:00
	will need more help now
<+bazooka85>	ill help u smacks the ask with 1000 contracts	11:01
<+timmyb>	740.1 gonna be tough	11:02
	but ask hits tell me we break through
	here we go
<+silo>	target for me is 747-749
	er2
<+timmyb>	wow thats a ways away but i see where u are coming from
<+silo>	:P	11:03
<+timmyb>	very one sided on ask vs bid
	wish i could get my custom bid/ask indicator working properly
<+silo>	i will most likely get out at 741 or so though haha
<+timmyb>	im thinkin 743
<+silo>	742 possibly
	yeah we'll see
<@NihabaAshi>	Exited 3/4 ER2 Long @ 740.60 --> + 1
<+timmyb>	patience is taht hardest thing	11:04
	if i can be patient and let winners move i think i can do better
	nice move here silo
	bid/ask still very one sided	11:05
	we gonna push here, volume coming in
	gonna get out here
<+bazooka85>	Shorts ES @ 1299.00 -> small size «« paper »»	11:06
<+timmyb>	741.60 pending
<@NihabaAshi>	Exited Remainder ER2 Long @ 741.30 --> + 1.7
<+timmyb>	Covered all ER2 Short @ 741.30 --> - 2.3 «« paper »»
	it was long
	+2.3
	sorry still getting hang of this	11:07
	i didnt like the drop in volume
	looks like i coulda held
<+bazooka85>	Covered all ES Short @ 1300.25 --> - 1.25 «« paper »»
<+timmyb>	Long ER2 @ 742 -> medium size «« paper »»
	nce move here	11:08
	definetly jumped the gun gettin out
	gonna let this run a tad
	good luck silo	11:09
	your lookin good so far
<+bazooka85>	Shorts ES @ 1300.25 «« paper »»
<@NihabaAshi>	Eminis liking what's occurring in other key markets
<+timmyb>	i was watching the dax last night
	msot were thinking short today, i figured and volume up tehre would be followers
	nice moves here	11:10
<+bazooka85>	looking for an oil bounce
* sep34	is now known as sep34_away	11:11
<@NihabaAshi>	slow start to the price action but its now shown its true face...
	Strong continuation price action that started off the Friday's lows
<+timmyb>	i have to say thank you niha, i have used range bars for a long time, missing allot from the 5 min candles, thanks for the site and helping fellow traders	11:12
	Exited all ER2 Long @ 743.6 --> + 1.6 «« paper »»
* anglo	is now known as a	11:13
<+timmyb>	Shorts ER2 @ 743.4 -> medium size «« paper »»
<+silo>	Exited all ER2 Long @ 743.2 --> + 16.2
<+timmyb>	wow silo excellent trade	11:14
<+silo>	thanks
	personal record
<+timmyb>	742.4 target on short
<+silo>	ahaha
<+Baxwill>	Gees Silo, Nice
<+timmyb>	you trade for a living silo
<+silo>	yeah	11:15
<+bazooka85>	Covered all ES Short @ 1299.75 --> - 1300.25 «« paper »»
<+timmyb>	i have paid allot of dues, i hope to someday
<+bazooka85>	hmm
<+timmyb>	Covered all ER2 Short @ 742.4 --> + 1 «« paper »»	11:16
	Long ER2 @ 742.7 -> medium size «« paper »»
	im gonna get hurt here, definetly overtrading
* codehead_afk	is now known as codehead	11:17
<werner>	hi all	11:18
<+bazooka85>	hi
	Long ES @ 1300.25 «« paper »»	11:19
<+werner>	wow many trader on vacation here i think
	traders	11:20
<+Baxwill>	Silo, when did u enter that great trade?
<+timmyb>	Long ER2 @ 742.00 -> Add «« paper »»
<+silo>	scroll up :)
	735 or so
	price wise
<+timmyb>	i think this is the end of pullback here
<+Baxwill>	Silo when did you enter that great trade?
	Sorry for repeat	11:21
<+timmyb>	here we go
	i really like trading the er, you guys hear anything about them getting ris of the er??
	rid of er	11:22
<+bazooka85>	Exited all ES Long @ 1299.00 -->