#FuturesTrades August 15th 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 15 08:22:18 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	08:22
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<rickf>	gm all	08:27
<Widgetman>	sold ES 2+	08:33
<+tzar>	gm rickf, Widgetman	08:36
<+rickf>	hi tasr
	tzar
	you
	yes you
<+tzar>	:)
<+Widgetman>	gm	08:37
<+tzar>	you ever heard of marketdelat?
	delta
<+rickf>	yep
<+Widgetman>	thx KN for heads up :)
<+tzar>	ever used it?
* +rickf	tried it for a few days -- didnt find much use for it though it was interesting
<+rickf>	marketdelta footprint
<+tzar>	yep
	kn says its very good software	08:38
<+rickf>	i'm sure it's handy -- i did like it -- but wanted to keep my screens as uncluttered as possible
	yes i made a few good trades from it and picked reversalpoints accurately
<+tzar>	i guess its time for another monitor then	08:39
	:)
<+rickf>	got 2	08:40
	use 1	08:41
<+tzar>	then its time to turn on that second one
<+rickf>	meh -- maybe.....i just don't WANT that much data coming into my mind @ once
<pat255>	what soft delta is?
<+pat255>	for charts?
<+tzar>	KN uses big volume to trade from
	this would allow us to identify those levels	08:42
	pat255, www.marketdelta.com
<+pat255>	ty
<+rickf>	simple volume histogram can do that too on my existing charts
<+tzar>	do we know if kn uses cumulative volume or does he seperate buys and sells	08:43
	?
<+rickf>	dunno
<+tzar>	bad rickf, very very bad	08:44
<+rickf>	?
<@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
<+tzar>	jk
<+rickf>	:0
<+tzar>	i dont know the answer, dont remmebr to be exact, but i think he said cumlative
	it woudl be hard using the matrix alone to seperate	08:45
<+pat255>	it wil ne nice if kn cud show some charts & see how it detrmines the levels & take the trades ..	08:47
	just a thot
<silo>	anyone here uses openEcry?	08:58
<+rickf>	yep
<+silo>	you do rick?
<+rickf>	ye
<+silo>	oh sweet
<futurible>	gm all	09:00
<palmer>	anyone here use ampfutures	09:02
<+pat255>	thinking about it ..may open a account with them..	09:09
<+silo>	morning folks	09:24
<baxwill>	greetings silo
<+silo>	10am : Consumer Sentiments report
* sep34_away	is now known as sep34	09:27
<ItalianSharp>	morning all	09:28
<+baxwill>	VPC's at 753.7, 754.5,
	another MP at 756.7	09:29
<PapaJon>	gm all
<KN-SR_>	Long ES @ 1296.25	09:30
<+KN-SR_>	add
	brb
<KN-SR_>	Exited 1/3 ES Long @ 1298.25 --> + 2	09:32
<+KN-SR_>	out all of 1297.25
	s.l 94.25	09:33
	Exited 1/3 ES Long @ 1299.50 --> + 3.25	09:35
	out of all 1298.50
<+silo>	Long ER2 @ 761.5	09:36
	Exited all ER2 Long @ 762.8 --> + 8.9
<+KN-SR_>	two early entries were killing me this morning......finally done with them
<+silo>	wait
	that's not right
	Long ER2 @ 761.5
<ripsboy>	gm all..
<+silo>	Exited all ER2 Long @ 762.8 --> + 1.3
	there we go
<+KN-SR_>	Exited 1/2 ES Long @ 1299.25 --> + 3	09:38
	h9
	brb
<@NihabaAshi>	Shorts ER2 @ 761.50 -> small size	09:39
	Covered ER2 Short @ 762.30 --> - 0.8	09:41
<+baxwill>	Silo, why was calculation screwed up?
<+KN-SR_>	Exited 1/4 ES Long @ 1301.25 --> + 5	09:42
	nice
<@NihabaAshi>	Long ER2 @ 763.50 -> small size
<+KN-SR_>	ly broken
	1304.25 next
	h8
<+silo>	Long ER2 @ 763.5	09:43
<@NihabaAshi>	Long an intuition trade
<szubaark>	Buys ES @ 1302 «« paper »»
<+KN-SR_>	Exited 1/4 ES Long @ 1302.25 --> + 6
	h7
<@NihabaAshi>	Exited ER2 Long @ 763.60 --> + 0.1	09:44
<+silo>	Exited all ER2 Long @ 763 --> - 0.5	09:45
<@NihabaAshi>	Shorts ER2 @ 762.90 -> small size
	Price action moving a little too fast for me...	09:47
<+silo>	Shorts ER2 @ 761.7	09:49
<@NihabaAshi>	Covered ER2 Short @ 761.80 --> + 1.1
<+AndyP>	Short 6B @ 185.82	09:50
<+rickf>	options friday btw
<@NihabaAshi>	I'm trading and watching the U.S. / Canada overtime (extra period) womens soccer game.
	Simply, I have a ton of distractions since the opening bell of the market :)
<+rickf>	who's up?	09:51
<+KN-SR_>	99.50...
	brb
<@NihabaAshi>	Be back when the game is over.
* NihabaAshi	is now known as NihabaAshi_away
<+palmer>	wha is 99.50?	09:52
<+rickf>	prolly whre his stop is	09:53
<+silo>	Covered all ER2 Short @ 758.4 --> + 3.3
<+szubaark>	Exited all Long ES at 1297.25 --> - 4.75 «« paper »»
	Shorts ES @ 1297.25 «« paper »»
<LP>	http://www.nbcolympics.com/index.html	09:56
<+LP>	watch anything you missed, anytime	09:57
* NihabaAshi_away	is now known as NihabaAshi
<+LP>	best i could find
<+ItalianSharp>	very jumpy price action...gonna sit out till it slows down...my eyes are already tired	10:01
<+rickf>	short es 1297.50 sm sz
<+ItalianSharp>	:(
<+silo>	Shorts ER2 @ 756.6	10:02
<+ItalianSharp>	looks like bears stepped in heavy as eminis were trying to put up an early rally	10:03
	this is heavy selling
<@NihabaAshi>	More strength going down then up so far today
<+silo>	wow
<+szubaark>	yes
<+rickf>	exit 1/2 es 1294 +3.5	10:04
<+szubaark>	nice rick
<+silo>	i was like is this right? i entered and immediately showed a 1 pt gain... eventhough my chart didn't catch up yet
	lol
	wow
<@NihabaAshi>	Initial pop to the upside now completely retraced and more
<+rickf>	thx szu
<+silo>	Covered all ER2 Short @ 755.6 --> + 1
<+rickf>	exit es remainder 1293.50 + 4	10:05
<+szubaark>	at open looked like they gonna break to upside
<+AndyP>	Covered B6 @ 185.42 +.40	10:06
<+ItalianSharp>	any news other than univ of michigan sentiment???
<Trader>	no	10:07
<+ItalianSharp>	this is really weird
<+Trader>	TIC from earlier
	56 B 62 expected
<+ItalianSharp>	ah...venus williams was defeated by chinese Li...that's why we are going down	10:08
	:)
<+szubaark>	lol
<+silo>	:D	10:10
	looking for longs now	10:12
	for a quick bounce
<@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
<+KN-SR_>	Long ES @ 1294.50	10:16
	s.l 92.25
<@NihabaAshi>	I'm back from watching the Olympics.	10:22
<+rickf>	short es 92	10:23
<@NihabaAshi>	Long ER2 @ 752.90 -> small size	10:25
* sep34	is now known as sep34_away
<+silo>	intuition right?	10:26
	Long ER2 @ 753.9	10:27
<@NihabaAshi>	tighten trail
	:(	10:28
	Exited ER2 Long @ 753.20 --> + 0.3
<+rickf>	out es @ 93 -1 (late)	10:29
<+silo>	wow i feel so much omre comfortable knowing that i have a stop order already set in hehe	10:43
<+AndyP>	s 1297.25	10:48
<+silo>	Exited all ER2 Long @ 753.8 --> - 0.1
<+szubaark>	Covered all Short ES at 1298 --> - 0.75 «« paper »»
	:((
<+silo>	Long ER2 @ 755	10:50
	back in
<+szubaark>	Buys ES @ 1298.50 «« paper »»
	sneaky action again
<+silo>	missed exit :(	10:54
	er2 lagging behind	10:56
	only one below the opening price
<+rickf>	back later - gym
<Andy>	Shorts ES @ 1300	11:01
<+Andy>	Covered 2/3 ES Short @ 1299 --> + 1	11:02
<+silo>	buying pressure still there	11:04
<+Andy>	Covered Remainder ES Short @ 1298 --> + 2	11:07
	Long ES @ 1298.5	11:08
<+silo>	Exited all ER2 Long @ 753.5 --> - 1.5	11:10
	stop hit
	:\
	Long ER2 @ 754.80	11:12
	back in
<+Andy>	Exited 2/3 ES Long @ 1299 --> + 0.5
	Exited Remainder ES Long @ 1299 --> + 0.5	11:13
<+silo>	dax spiked up a bit	11:14
	dax hits resistance though :(	11:15
<bazooka85>	gm gm gm	11:16
<+szubaark>	Exited all Long ES at 1298.75 --> + 0.25 «« paper »»	11:23
	Shorts ES @ 1298.75 «« paper »»
<+bazooka85>	Long ES @ 1299.00 «« paper »»
<@NihabaAshi>	Shorts ER2 @ 753.30 -> small size	11:24
	2 only
<+Andy>	Long ES @ 1298.75	11:25
<@NihabaAshi>	Covered ER2 Short @ 753.90 --> - 0.6
<+bazooka85>	Exited all ES Long @ 1300.25 --> + 1.25 «« paper »»	11:27
<+Andy>	Exited 2/3 ES Long @ 1300 --> + 1.25
<@NihabaAshi>	Long ER2 @ 754.20 -> small size	11:28
	2 only
<+szubaark>	Covered all Short ES at 1299.75 --> - 1 «« paper »»	11:29
	will watch for a while, this is just Chop	11:30
<@NihabaAshi>	It's trying hard to "unchop" itself :)
	I'll give it a few more minutes to try an impress me...
	If not...I'll go to an early lunch.
<+szubaark>	Buys ES @ 1299.75 «« paper »»	11:31
<+silo>	what's for lunch today?
	:D
<+szubaark>	maybe Ill catch s small spike
<@NihabaAshi>	Sushi
	Going out with the family
<+futurible>	Long ER2 @ 755.00 «« paper »»
<+bazooka85>	Shorts ES @ 1300.50 «« paper »»	11:32
	Shorts ES @ 1301.25 -> Add «« paper »»	11:33
	1300.75 avg*	11:34
<+futurible>	Exited 2/3 ER2 Long @ 755.50 --> + 0.5 «« paper »»	11:35
<@NihabaAshi>	Exited ER2 Long @ 755.20 --> + 1
	It's trying to retrace back into that prior chop area...	11:36
<+Andy>	Exited Remainder ES Long @ 1299.5 --> + 0.75
<@NihabaAshi>	I'm not impressed and think it will continue for awhile longer.
<+futurible>	Exited Remainder ER2 Long @ 754.60 --> - 0.4 «« paper »»
<+palmer>	what will continue niha
	the chop?
<+szubaark>	Exited all Long ES at 1299.25 --> - 0.5 «« paper »»	11:37
	Buys ES @ 1299.25 «« paper »»
<@NihabaAshi>	chop
<+bazooka85>	Covered all ES Short @ 1299.00 --> + 3.75 «« paper »»
<+silo>	Exited all ER2 Long @ 753.9 --> - 0.9
<+bazooka85>	+2.75 avged*
<+silo>	yeah i'm gonna step back a little	11:38
	while i'm still up
	wait for a better move
<+bazooka85>	Covered all ES Short @ 1300.00 --> + 0.5 «« paper »»
	i'm owning today ;D
* NihabaAshi	is now known as NihabaAshi_lunch	11:40
<+silo>	you put the market in a peruvian necktie?
<+bazooka85>	Long ES @ 1298.25 «« paper »»
	lol	11:41
	i just clicked buy sell and exit all ;)
<+silo>	Shorts ER2 @ 753.7	11:43
<+futurible>	Shorts ER2 @ 753.10 «« paper »»	11:45
<+bazooka85>	Exited ES Long @ 1297.00 --> - 1.25 «« paper »»
	Reverse and Enter Short ES @ 1297.00 «« paper »»
	Covered all ES Short @ 1296.50 --> + 0.5 «« paper »»	11:47
	too scared
	have a stop set above, entering if it breaks up	11:49
	wards*
	Long ES @ 1297.25 «« paper »»
<+futurible>	Covered 1/2 ER2 Short @ 751.90 --> + 1.2 «« paper »»	11:52
<+bazooka85>	tighter stop
<+futurible>	Covered 1/4 ER2 Short @ 752.50 --> + 0.6 «« paper »»	11:54
<+rickf>	back
<+bazooka85>	Long ES @ 1296.25 -> Add «« paper »»	11:57
	still tight stop
	avg 1296.75*
<+silo>	Covered all ER2 Short @ 752.2 --> + 1.5
<+rickf>&nbs