August 17th Thursday 2006 Trade Log
#FuturesTrades is a private and free realtime trading posting chat room on the IRC Othernet server that allows traders from all over the world to communicate.
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In addition, NihabaAshi is the only trader in #FuturesTrades that represents TheStrategyLab.com strategies.
Further, you'll find below the chat room time stamped text log of realtime trades (real money and simulator) that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est).
Also, below NihabaAshi's trading blog like comments, you can read the time stamped trades (prices, entries, exits et cetera) and market discussions that sometimes contains trading tips or insights that are more useful than what you will see at any other futures blog or chat room.
Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary on a few occasions as time permits and such will contain trading tips that should help your trading as I attempt to sum up my thoughts as I traversed from the first trade to the last trade that was posted in #FuturesTrades realtime trade posting chat room.
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ER2 EuroFX EC +5.40 +0.0025 $540.00 $312.50 Position Size Management
Decent trading day mainly because of my position size management.
In addition, position size management can be accomplished by one contract traders.
If your reading this and do not understand...email me with your question about how a one contract trader can use position size management to help improve profits and reduce losses.
Also, I have one open position that's a loser and when I close it tomorrow (August 18th Fri)...its results will be included into tomorrow's trade results.
Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of August...click here. To see results for the months of 2006 and prior years...click here.
Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.comNote: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and you can view the charts associated with the key price action along with their stories at our key chart story archives.
Session Start: Thu Aug 17 08:43:04 2006Session Ident: #futurestrades * Now talking in #futurestrades 08:43 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm * szubaark_away is now known as szubaark 09:21 <Chilly> gm <PapaJon> gm all 09:26 <pat255> gm all.. 09:28 <eminitrader> morn all 09:29 Long ES @ 1296 09:33 <szubaark> gm <substanz> gm all <eminitrader> 50% retracement of yest terdays upmove .. <PapaJon> Niha... les just told me other room that his password isnt letting him in... ?? 09:34 <NihabaAshi> Long ER2 @ 708.20 -> small size 2 contracts only...still unwilling to put on some decent size in the current market condition since returning back from vacation. 09:35 <eminitrader> Exited 1/2 ES Long @ 1297.50 --> + 1.5 09:36 <szubaark> nice emini <eminitrader> thx szu ... <NihabaAshi> Exited 1/2 ER2 Long @ 709.30 --> + 1.1 09:38 <jperl> lots of pink this morning... http://charts.dacharts.com/2006-08-17/JP ERL_011.png <NihabaAshi> I'm hoping to catch a WRB as a GAP close around the 710.20 price area. 09:39 <eminitrader> Exited 1/3 ES Long @ 1298.25 --> + 2.25 09:42 holding 1 <pat255> vn emini <eminitrader> thx pat <pat255> & Niha ... <NihabaAshi> Exited Remainder ER2 Long @ 710.30 --> + 2.1 09:43 <eminitrader> Exited ES Long @ 1298.50 --> + 2.5 09:44 Reverse and Enter Short ES @ 1298.50 both ES and NQ at globex highs <pdays> Shorts ER2 @ 710.1 «« paper »» 09:45 <szubaark> Shorts NQ @ 1576 Shorting Previous High& Overnight here <substanz> Shorts YM @ 11357 «« paper »» 09:46 <szubaark> exit stop set NQ @ 1578 RED ALERT <substanz> :) 09:47 Covered all YM Short @ 11364 --> - 7 «« paper »» 09:49 <szubaark> cancelled all open stop orders 09:50 <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) <szubaark> Will Reverse Long. Cancel Stop <jperl> totalmarket has changed from mostly pink to mostly green... 09:51 http://charts.dacharts.com/2006-08-17/JP ERL_012.png <asuni> niha, when u free, pm 09:53 <pat255> chop chop city <szubaark> pat Leading Indicators in 5 minutes <pat255> asuni ..niha is in a trade .. i think <asuni> don't think so pat 09:54 <pdays> Covered all ER2 Short @ 708.8 --> + 1.3 «« paper »» 09:55 <pat255> k... <asuni> last message i can see is [09:43] <NihabaAshi> Exited Remainder ER2 Long @ 710.30 --> + 2.1 . but i can be wrong, is so i'm sorry 09:56 <szubaark> Covered all Short NQ at 1574.50 --> + 1.5 09:57 <jperl> TotalMarket now mixed.... 09:58 http://charts.dacharts.com/2006-08-17/JP ERL_013.png <szubaark> jp what is your Pivot for today? 09:59 <jperl> My pivots are dynamic.... based on VWAP and its standard deviations.... 10:00 present ER2 VWAP=708.90 1st StdDEv= +- 10 ticks <eminitrader> Shorts ES @ 1298.50 -> Add 10:02 <szubaark> Buys NQ @ 1577 exit stop set NQ @ 1577 10:03 lets see if its more or just Stop Run 10:04 <NihabaAshi> Long ER2 @ 710.10 -> small size 2 contracts only <eminitrader> Covered all ES Short @ 1299.50 --> - 2 10:05 <NihabaAshi> Intuition trade with a ton of help from the price action of Oil Indices and ETFs. Exited 1/2 ER2 Long @ 711.00 --> + 0.9 10:06 <szubaark> Exited all Long NQ at 1580.75 --> + 3.75 <NihabaAshi> Lost my support by the price action of Oil. <szubaark> hhmm.. ES NOT re-testing Yersturday's High 10:07 <NihabaAshi> Exited Remainder ER2 Long @ 710.40 --> + 0.3 <substanz> Shorts YM @ 11371 «« paper »» 10:08 <NihabaAshi> We still have a 1030am est Natural GAS Status report. <jperl> TotalMarkets now all green... 10:09 http://charts.dacharts.com/2006-08-17/JP ERL_014.png <eminitrader> Shorts ES @ 1299.50 10:10 <NihabaAshi> Wow...I didn't even know we had a 10am Leading Indicators report... <szubaark> [09:54] > pat Leading Indicators in 5 minutes <NihabaAshi> We also have the 12noon est Philly FED Survey. szu...missed it...spent about 10mins installing a new window :( 10:11 <szubaark> Niha i was surprised when u didnt mention it. Usually u say something about Volatility should increase <substanz> Covered all YM Short @ 11364 --> + 7 «« paper »» 10:16 <eminitrader> its crazy ...1min 3min yelling short 15min 30 min yelling longs ..wonder whu will come thru 10:20 <pat255> htf will win <eminitrader> for the day <jperl> So far TotalMarket staying above its 1st StdDev.... 10:21 <eminitrader> thats ES i.m talking abt <jperl> so I look for longs ath this point.... http://charts.dacharts.com/2006-08-17/JP ERL_015.png 10:22 <NihabaAshi> Volatility is picking up now... 10:24 Shorts ER2 @ 711.50 -> small size 10:25 3 contracts only Intuition trade. <pat255> geez 3 ctrcts & niha says small size lol <les> hehe- just what i was thinking pat 10:26 <szubaark> Shorts NQ @ 1580.25 10:27 <NihabaAshi> Covered 1/3 ER2 Short @ 710.80 --> + 0.7 <pat255> les that is how u make money <eminitrader> tht u were long szu <pat255> L 1299 ES 10:28 <szubaark> [10:06] > Exited all Long NQ at 1580.75 --> + 3.75 <les> nah, pat.. thats usually how i lose it :) <eminitrader> k nice going <pat255> just scalp 2-3 ticks <szubaark> again, my Stop will be REVERSE to Long around 1582. 10:29 <les> Shorts ER2 @ 710.3 <eminitrader> u trying something new szu <NihabaAshi> Covered 1/3 ER2 Short @ 710.40 --> + 1.1 exit stop lowered ER2 @ 711.40 10:30 <szubaark> naw.. just playing market momentum. <pat255> out -1 tick ... <eminitrader> k :) <les> Covered 1/3 ER2 Short @ 709.9 --> + 0.4 <szubaark> Reacting instead of Thinking. LOL <eminitrader> Covered 1/2 ES Short @ 1298 --> + 1.5 <szubaark> exit stop set NQ @ 1580.25 10:31 <les> Covered 1/3 ER2 Short @ 709.6 --> + 0.7 10:32 <szubaark> emini, did u increase Position Size on this Short? <eminitrader> no szu ..only my first trade was 5 contracts ..all others 1max 2 10:33 <szubaark> Uve been doing real good with your 1st trade lately. the retracements arent as clear on NQ <les> exit stop moved to breakeven ER2 @ 710.4 Trailing Stop Hit ER2 @ 710.4 --> - 0.1 10:34 <eminitrader> that was a good set-up szu ..was playing on yest..strenght <szubaark> Covered all Short NQ at 1580.25 --> 0 <les> wrong was 0.0 <NihabaAshi> Shorts EuroFX EC @ 1.28850 ---> 5 contracts only <substanz> Long YM @ 11364 «« paper »» 10:35 <NihabaAshi> Intution only trade. <eminitrader> short bias niha? k 10:36 <NihabaAshi> Yes but I'm about to go neutral on my bias :( ER2 volatility is drying up. 10:37 <eminitrader> hope there is a trend to trade at least for the pm session Covered Remainder ES Short @ 1298.50 --> + 1 10:41 dont want to be a part of this action ..see u all later 10:42 <NihabaAshi> Geeesh...crappy price action since 1030am est 10:44 Not a good time for me to be doing intuition trades. Covered Remainder ER2 Short @ 711.10 --> + 0.4 10:45 <jperl> TotalMarket still showing a long bias.... 10:49 http://charts.dacharts.com/2006-08-17/JP ERL_016.png ER2 1st STDev still at +- 10 ticks, VWAP=709.80... 10:53 not much manuvering room for me... here are my trades this morning... 10:54 http://charts.dacharts.com/2006-08-17/JP ERL_017.png 10:55 All entries were on the long side 10:56 <szubaark> nice jperl. Consistancy is what counts. <NihabaAshi> Covered All EuroFX Short @ 1.28850 (-0.000) reversed into Long @ 1.28860 <szubaark> Buys NQ @ 1584 10:57 * les is now known as lesAway 11:00 <substanz> Exited all YM Long @ 11373 --> + 9 «« paper »» <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) 11:02 <NihabaAshi> Exited All EuroFX EC @ 1.28910 --> + 0.0005 11:05 That's a lucky escape out of that trade. <pat255> nice ...green is good 11:06 <NihabaAshi> Be back around 1145am est and hopefully the volatility is picking up as it leads into the Philly FED Survey. Going to finish installing a few more windows. 11:07 * NihabaAshi is now known as NihabaAshi_away <szubaark> Exited all Long NQ at 1584 --> 0 11:17 no followthru on NQ * NihabaAshi_away is now known as NihabaAshi 11:44 <pat255> c u guys later ...back to office.. 11:48 ty all * lesAway is now known as les 11:55 <NihabaAshi> Shorts ER2 @ 713.10 -> small size 12:01 3 contracts only intuition trade :( 12:03 Covered 1/3 ER2 Short @ 713.00 --> + 0.1 trade error and I'm looking to dump my position 12:04 Covered ER2 Short @ 713.70 --> - 0.6 12:07 Reverse and Enter Long ER2 @ 713.70 Back to 3 contracts for the Long Stuck in my own volatility spike :( 12:09 <les> Shorts ER2 @ 713.7 12:10 exit stop set ER2 @ 714.4 <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 <les> Trailing Stop Hit ER2 @ 714.4 --> - 0.7 <NihabaAshi> ER2 volatility drying up...expecting a volatility spike here soon. 12:14 Hopefully, in the direction of my Long position. * les is now known as lesAway 12:19 <NihabaAshi> Exited 2/3 ER2 Long @ 714.60 --> + 0.9 12:20 No voltility spike but I needed to bank profits to offset the loss in the prior trade... 12:21 Ooops... There's the volatility spike as I was writting :) <ItalianSharp> that was funny niha <NihabaAshi> :) 12:22 <szubaark> looks like i missed the entry. 12:23 * szubaark is now known as szubaark_away <asuni> need to go, cu tomorrow 12:29 * lesAway is now known as les 12:33 <NihabaAshi> Take a late lunch...be back later and if my trailing stop is hit...I'll post the trade results when I return from lunch. 13:16 exit stop set ER2 @ 713.90 * NihabaAshi is now known as NihabaAshi_away <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) 13:23 <eminitrader> Long ES @ 1301.25 13:57 Long ES @ 1300.25 -> Add 14:05 <substanz> Long YM @ 11364 «« paper »» 14:09 <jperl> ES at VWAP 1300.50 14:11 TotalMarket at its average price 14:12 Roll the dice * NihabaAshi_away is now known as NihabaAshi 14:14 <NihabaAshi> :( 14:15 Late trade post because of lunch... <substanz> Exited all YM Long @ 11357 --> - 7 «« paper »» <NihabaAshi> Trailing Stop Hit ER2 @ 713.90 --> + 0.2 <szubaark_away> late in the day action, not gonna roll the dice. 14:16 Pros going thru Support like Butter. <eminitrader> Exited all ES Long @ 1299 --> - 3.5 14:17 <NihabaAshi> Shorts ER2 @ 711.10 -> small size I'm in profit protection mode now...1 contract trading. 14:18 Oh oh :( 14:19 Covered ER2 Short @ 711.40 --> - 0.3 14:22 Reverse and Enter Long ER2 @ 711.40 Reversed into a 2 contract Long position... Got my second pattern signal of the trading day and didn't want to be in it with just 1 contract. 14:23 If it moves in my favor...it will be a shallow pt :( 14:25 Exited all ER2 Long @ 710.40 --> - 1 14:29 Shorts ER2 @ 710.20 -> small size 14:31 1 contract only <jperl> TotalMarket in reversal mode....dropping below its 1 StDev... 14:33 http://charts.dacharts.com/2006-08-17/JP ERL_018.png <NihabaAshi> Its in a creeper downtrend...took me awhile to recognize it as such :( 14:34 <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) 14:35 <NihabaAshi> Covered ER2 Short @ 710.10 --> + 0.1 Long ER2 @ 711.00 -> small size 14:44 1 contract only May add another contract if the trade can get some support from the other Eminis. 14:45 No support. 14:47 That was a volatility spike after volatility had dried up. 14:52 I don't like to add into a volatility spike. 14:54 Creeper downtrend still active and I don't see much out of this weak counter-thrust. 14:56 Exited ER2 Long @ 711.10 --> + 0.1 There's a one point volatility range for ER2 currently between 712 - 711 15:05 An area of trading to avoid. <Chilly> what tool do you use to measure volatility? thanx. 15:08 <NihabaAshi> Long ER2 @ 712.40 -> small size 2 contracts...exploiting the declining volatility. 15:09 Volatility spike again. :( 15:11 Last trade of the day. 15:12 Lost my patience. <eminitrader> Shorts ES @ 1301.75 15:14 exit stop set ES @ 1302.25 Covered all ES Short @ 1301.75 --> 0 15:20 <NihabaAshi> I've loosen up my stop and will hold my trade into tomorrow. 15:26 I smell one more GAP up. 15:27 <eminitrader> no news till 9.50 am 15:29 <NihabaAshi> Yep...so it won't be a key economic report gap up via a 0830am est release. 15:31 It should just be a normal slow riser during the overnight trading sessions. 15:32 <eminitrader> thought that chances of a gap open are higher on days reports r due k <NihabaAshi> It's a low risk trade...small size...leading into the 0945am est key econ report. 15:33 <eminitrader> :) <NihabaAshi> Will dump 1 contract if it hits 714.00 and keep the other into tomorrow and hopefully all day tomorrow. 15:34 <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) 15:44 <NihabaAshi> The overnight trading session range has now been establish for me to monitor... 15:50 713.60 - 709.70 <jperl> done for the day.....reached my risk tolerance limit.... <NihabaAshi> Resetting my stops now. <jperl> haven't learned yet not to trade around the VWAP point <NihabaAshi> exit stop lowered ER2 @ 709.70 15:51 <jperl> http://charts.dacharts.com/2006-08-17/JP ERL_019.png 15:52 <NihabaAshi> jperl...I remember when you use to post those VWAP point numbers a lot in the past... When you did...I notice I too had difficulty in my trades when they occur at/near those VWAP numbers. <jperl> yes...I still post them occaisionally to remind myself not to trade there 15:53 this afternoon I didn't listen <NihabaAshi> If ER2 can close above 713.00 15:54 I'll feel better about my analysis for an overnight hold. 15:55 Take care all and see all tomorrow. 16:15 * NihabaAshi is now known as NihabaAshi_away 16:16 <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) 16:56 #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) 18:05 * DisconnectedSession Close: Thu Aug 17 18:29:16 2006 18:29 Sponsor: As traders we must treat our trading like a business if we are to succeed as traders and as a business. 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