August 18th Friday 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.
Click here for the instructions on gaining access to #FuturesTrades.
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 +5.90 +0.0000 $590.00 $0.00 Mental Game
I called it quits for the day around 1045am est because when there's a feeling I'm not on the same page as the market...its not a good time to be trading regardless if your profitable for the day or not.
In fact, mastering the mental aspect of trading is key to being able to consistently be profitable each and every month is either underrated or ignored by most traders.
Simply, exploit the trading days when your head is in the correct mind set to be profitable and know your limitations when you know your head is not in the correct mind set.
With that said...it was a very impressive week for the Indexes and today's late afternoon counter-thrust back upwards was as if the market was saying you better know what your doing if your going to short me.
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: Fri Aug 18 08:54:07 2006Session Ident: #futurestrades * Now talking in #futurestrades 08:54 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <pat255> gm all.. 09:23 <szubaark> good morning 09:24 <pat255> any bias Niha, emini this am? 09:25 looks like indexes extended? <eminitrader> morn all 09:27 <szubaark> gm emini <asuni> gm all <pat255> gm emini 09:28 <eminitrader> pat i'm lookingin for an inside day today and then Monday i will be long reason all long term charts and weekly in a bullish mode...will be looking in the along side in all pullbacks 09:29 <pat255> k..u mean narrow range (inside day)? <eminitrader> yep <pat255> kty...party keeps rolling 09:30 <eminitrader> prooly short covering could see new highs <NihabaAshi> Exited 1/2 ER2 Long @ 714.00 --> + 1.6 09:31 <eminitrader> was this yest.long niha ? <pat255> vn niha..wow pre mkt entry? <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) 09:32 <NihabaAshi> patt255...it was an overnight hold from yesterday. exit stop raised ER2 @ 713.00 09:33 <pat255> nice..niha <NihabaAshi> I don't like how ER2 surged upwards... Too much volatility and such usually will spent the buyers and force quick profit taking :( :( 09:34 <eminitrader> es at highs NQ at lows ? <NihabaAshi> Trailing Stop Hit ER2 @ 713.00 --> + 0.6 <eminitrader> ES holding well so far 09:35 Shorts ES @ 1302.25 09:38 <szubaark> Shorts NQ @ 1575.25 09:40 <jperl> mixed markets this morning... 09:42 http://charts.dacharts.com/2006-08-18/JP ERL_011.png <szubaark> exit stop set NQ @ 1578 09:47 <substanz> Shorts YM @ 11390 «« paper »» 09:49 <NihabaAshi> Shorts ER2 @ 710.60 -> small size 2 contracts only intuition trade <PapaJon> consum sent ... much lower than expected 09:50 <NihabaAshi> Covered 1/2 ER2 Short @ 709.50 --> + 1.1 <substanz> Covered all YM Short @ 11375 --> + 15 «« paper »» 09:51 <szubaark> Covered all Short NQ at 1572.50 --> + 2.75 Crap, my quotes are messing up :(( <eminitrader> Covered 2/3 ES Short @ 1300.25 --> + 2 09:52 <szubaark> most likely that will be my last trade :((( can someone verify NQ Price now 1572.25 09:53 1572.50 Sponsor: As traders we must treat our trading like a business if we are to succeed as traders and as a business. Therefore, waiting till the last few weeks March to prepare for April's taxes is not good for your trading and could put extra stress on your trading during tax month or the months that follow if your one of those traders that filed an extension.. Therefore, its best to be on top of your taxes throughout the year and Traders Accounting is a great resource for such especially if you want to prevent penalties or an audit several years from now.
<eminitrader> yes 71.75 71 <szubaark> probobly the construction crew messed up the dsl box again. <eminitrader> 70.50 09:54 <szubaark> ok, thanks emini. Nice Short by the way <eminitrader> Covered 1/3 ES Short @ 1299.25 --> + 3 holding 1 thx szu you too ... 09:55 <pat255> dang dial up connection @office sucks ...:( vn guys .. 09:56 <NihabaAshi> WARNING: Do not share #FuturesTrades password with any current member nor with any past members 09:57 <eminitrader> Covered Remainder ES Short @ 1298.25 --> + 4 <szubaark> emini.. nice hold. <asuni> vn emini, like everyday :-) <eminitrader> now all 1 lot size rest of the day 10:01 thx szu Asuni <szubaark> IF my connection wasnt bad, i would have Exited at yersturday's Low around 1569 10:03 <eminitrader> NQ was the leading indicator for that trade <szubaark> emini.. ALSO YM High was a good Stop placement :) <eminitrader> yep i had a 3 pt stop on that szu 2 tichs high to yest 10:05 <asuni> NIHA, PM IF U FREE 10:09 <eminitrader> k <pat255> L 1298 small tight stop just for scalp only 1 car <eminitrader> prolly target 1300 10:10 <pat255> nah just scalp..3-4 ticks <eminitrader> ur call :)) <pat255> out ...5 10:12 2 ticks not gonna hold.. <eminitrader> u never know 10:13 <pat255> @office got to be careful.. <szubaark> pat, i woudnt recommend trading under pressure(at work).. you need to give market 110%+. You going against seasoned Pros. 10:14 <pat255> agree szu... 10:15 <NihabaAshi> agree szu. <eminitrader> and scalping ticks on a dial up ............ <pat255> just scalp at the office a little wih tight stops if i can.. <eminitrader> tough job pat 10:16 <szubaark> Swing trading or Position tradingYes ,BUT NOT Daytrading. Daytrading is too Intense. <NihabaAshi> pat255...when I first started trading (part-time)...it occurred in the summer at a college summer job... I traded while at work and my job whenever I had work related pressures... It caused trading problems. I eventually found a different job more suitable to my part-time trading schedule that allowed me to give 100% to trading. 10:17 I traded in the morning and went to work in the afternoons. <pat255> ahha college wow ...agree ..i hope to be a bit better so when get out atleast can do trading full time... <NihabaAshi> Yep...things got better when college was completed. 10:18 <pat255> emini szu u all full time traders? never had enuf money during college to do trading ...just getting thru it was hard enuf 10:19 <eminitrader> yes pat 10:20 mean i am <pat255> k...:) u are a good trader emini 10:21 <eminitrader> not good enough pat still a long long way to go.......... just getting the hang now <jperl> TotalMarket holding at 1st Stddev.... http://charts.dacharts.com/2006-08-18/JP ERL_012.png 10:22 <pat255> true for every traders...but i watch your posts & u do well... many thks for the posts.. <NihabaAshi> eminitrader...your a lot further than I was in comparison to my first few years. <pat255> niha how long u been trding if i may ask? 10:23 <NihabaAshi> fulltime since the early 90's. <eminitrader> maybe ..but still freeze,screw-up thru data entry/exit errors, double guess on a trade , tensed when in a large size trade...u know little thinga that make a huge diffre.. <NihabaAshi> part-time in the late 80's. 10:24 <eminitrader> thx for the encouragement niha .. <NihabaAshi> A few years before that...I was a serious investor or holding stuff for many months and years. <szubaark> pat, i do this full-time but im not good enough where its my only source of income. <eminitrader> really helps coming from u :) <NihabaAshi> pat255...to be fair...I have two other sources of income. 10:25 <pat255> vn niha .. i feel that i cant be full time trader...family & all that.. <NihabaAshi> One source is very small (TheStrategyLab.com website) and the other source is large enough where I could do it for a living if I wanted to (darkroom photography for some well known photographers). 10:26 <pat255> & go thru the problems emini mentioned <NihabaAshi> Thus, I don't have the normal pressures associated with most traders trying to do this for a living. <pat255> that is a big plus niha ...pressure can make u do stupid things 10:27 <NihabaAshi> Agree...been there done that. <szubaark> Shorts NQ @ 1567.75 10:28 quotes look good last 30+ minutes. <pat255> dang missed 98 S entry 10:29 <szubaark> exit stop set NQ @ 1569.50 10:31 <NihabaAshi> Crappy range since 1003am est ER2 volatility is declining... 10:32 <pat255> k guys biab ..back to work ..ty all <NihabaAshi> Now I'm expecting a volatility spike... <werner> thnks niha 10:33 <NihabaAshi> Hopefully not one that forces me out of my remainder short. <substanz> Long YM @ 11350 «« paper »» Exited all YM Long @ 11345 --> - 5 «« paper »» 10:36 <NihabaAshi> There's a lot of stops just below this support level that ER2 is close to testing. If it can push a few ticks below it...should be a runner further below on some volatility. 10:37 Volatility spike...against my trade :( 10:39 <szubaark> Covered all Short NQ at 1569.50 --> - 1.75 10:40 <eminitrader> Shorts ES @ 1299 10:41 <NihabaAshi> Covered Remainder ER2 Short @ 708.00 --> + 2.6 10:43 :( <jperl> ER2 at VWAP 708.30 10:44 <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) * jperl should be flogged with a wet noodle if he trades here <pdays> Shorts ER2 @ 708.2 «« paper »» 10:45 <szubaark> Shorts NQ @ 1571.50 <eminitrader> Shorts ES @ 1300 -> Add 10:46 <substanz> Shorts YM @ 11368 «« paper »» <szubaark> RED ALERT <jperl> TotalMarket also at Average Price... 10:47 http://charts.dacharts.com/2006-08-18/JP ERL_012.png <substanz> yes szu ! <jperl> For those of you trading here.... May the force be with you <eminitrader> :) 10:48 <szubaark> jperl smart man :) <jperl> I'll wait until Totalmarket shows real direction again <aym> Short YM @ 11366 risk 20 10:49 Trading Edge: Trading Strategies -> These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: 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) and Hang Seng Index Futures (HSI) <pdays> Covered all ER2 Short @ 707.4 --> + 0.8 «« paper »» 10:50 <eminitrader> Covered 1/2 ES Short @ 1299 --> + 1 10:54 <szubaark> exit stop set NQ @ 1571.50 <eminitrader> holding 1 <szubaark> gonna give this some room for more Points (greed) <jperl> Pdays played the bounce off the VWAP.... 10:55 <eminitrader> exit stop set ES @ 1300 <jperl> http://charts.dacharts.com/2006-08-18/JP ERL_014.png <eminitrader> Covered Remainder ES Short @ 1299.50 --> - 0.5 10:57 thats commish and a tick on that trade :) <szubaark> starting to feel like options expiration friday :(( 10:58 <substanz> Covered all YM Short @ 11366 --> + 2 «« paper »» <szubaark> Covered all Short NQ at 1571.50 --> 0 11:02 <eminitrader> done for the wk.. just watching the mrkt 11:10 NQ at last res 1573-74 <szubaark> Shorts NQ @ 1572.50 <substanz> Shorts YM @ 11373 «« paper »» 11:14 <eminitrader> nice short set-up on NQ ... 11:17 <szubaark> yes..BUT have to remember its friday expiration day :) 11:19 <eminitrader> isn't that next friday szu 11:20 <szubaark> i got it today. <eminitrader> u r right ... 11:21 <szubaark> emini see pm 11:22 <eminitrader> got it 11:23 <substanz> Covered all YM Short @ 11364 --> + 9 «« paper »» 11:24 <eminitrader> can anyone fix this - if i get a pm my reply does not go thru ...i have to close that window, open a new one to ensure the reply goes thru ? 11:25 <szubaark> emini.. maybe u have Old version of mirc? <eminitrader> any new version in the past 2 yrs ? 11:26 dont worry ..ii;ll check it out <jperl> looks like TotalMarket stalled at its average price.... 11:28 http://charts.dacharts.com/2006-08-18/JP ERL_015.png enough for this morning....trades here... 11:29 http://charts.dacharts.com/2006-08-18/JP ERL_016.png <substanz> good jperl 11:30 <szubaark> good jperl, a lot better then yersturday :) <jperl> well yesterday I didn't listen to my own advice.... trading at VWAP is a no no <substanz> Shorts YM @ 11356 «« paper »» 11:34 Covered all YM Short @ 11351 --> + 5 «« paper »» 11:35 <les> Long ER2 @ 708.9 11:38 exit stop set ER2 @ 708.3 11:39 <JavaGuest> quit 11:41 <les> oops s/loss in wroing place 11:42 <substanz> Long YM @ 11354 «« paper »» <les> exit stop set ER2 @ 707.3 <aym> Cover YM @ 11353 11:43 * Looking up mi user info... <substanz> Exited all YM Long @ 11359 --> + 5 «« paper »» 11:44 <les> Exited 1/3 ER2 Long @ 709.3 --> + 0.4 exit stop raised ER2 @ 707.8 <szubaark> Covered all Short NQ at 1572.25 --> + 0.25 11:46 Shorts NQ @ 1570.75 11:52 last try <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) 11:56 <les> Exited Remainder ER2 Long @ 709.5 --> + 0.6 11:59 that 200 ema seems to be causing er2 a lotta grief 12:00 esp close on the 2min and just wont b/out 12:01 now that i took my profit... watch it tank <szubaark> thats what im looking for.. holding up well 12:03 <jperl> NQ VWAP 1570.40 http://charts.dacharts.com/2006-08-18/JP ERL_017.png 12:04 <szubaark> looks like they busted some Stops on ER above 709.50 12:09 geez, not gonna give it up easy 12:12 <les> szu... i think after a while, with a number of attempts, the resistanmce becomes too strong, and then it fails 12:13 of course if it bursts thro it will really go like jiminy 12:14 <szubaark> yeah like the Rocker Ranger <les> the chances of that diminish with each failed attempt tho 12:15 <szubaark> Covered all Short NQ at 1572.50 --> - 1.75 12:19 Buys NQ @ 1572.50 * les is now known as lesAway 12:29 <szubaark> they just running frikin Stops 12:37 set up range then whack Stops above/below 12:38 exit stop set NQ @ 1572.50 12:39 Exited all Long NQ at 1572.75 --> + 0.25 * szubaark is now known as szubaark_away <substanz> Shorts YM @ 11362 «« paper »» 12:44 Covered all YM Short @ 11367 --> - 5 «« paper »» 12:50 <Chilly> good afternoon, shaping up to be 2nd NR7 day in a row on YM,ES,ER2 ... maybe some price expansion Monday? 13:00 <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) 13:08 <Chilly> Long YM @ 11367 13:09 exit stop set YM @ 11359 YM in triangle ... tight stop here 13:10 <eminitrader> nice call chilly 13:23 <Chilly> exit stop moved to breakeven YM @ 11367 T1 hit, looks like I should have taken the scalp :( 13:24 thatnks e-mini :) <eminitrader> there was a nice move on es and nq 13:25 <Chilly> Trailing Stop Hit YM @ 11367 --> 0 13:26 <eminitrader> :( days like these should not expect home runs <Chilly> yup, I need to take what I can 13:28 <eminitrader> should stay out or if we can read the flow right..low risk scalps r the best way to go Shorts ES @ 1302.75 13:55 <szubaark_away> Shorts NQ @ 1576 13:57 lets see if the 2pm bunch tanks this 13:58 <eminitrader> right szu.. 13:59 <szubaark_away> emini im also getting Sell on 15min <eminitrader> good play with a 2 tick stop 14:00 Covered all ES Short @ 1201.75 --> + 101 <szubaark_away> heheh.. <eminitrader> oops thats 1pt Covered all ES Short @ 1301.75 --> + 1 14:01 could have rest of the yr off :) <szubaark_away> or just do about 50 contracts :)) 14:02 Sponsor:
<eminitrader> he he <szubaark_away> emini see pm 14:04 Covered all Short NQ at 1574.25 --> + 1.75 14:05 <eminitrader> szu u getting my responses ...after the first one 14:10 <szubaark_away> yes 14:14 <eminitrader> k szu i'm done guys ..see u all mon ..have a good wkend all 14:15 <szubaark_away> bye emini <eminitrader> bye szu <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) 14:20 * lesAway is now known as les <les> Shorts ER2 @ 709.8 14:22 exit stop set ER2 @ 710.6 Trailing Stop Hit ER2 @ 710.6 --> - 0.8 14:29 <jperl> today's trades.... 14:54 http://charts.dacharts.com/2006-08-18/JP ERL_018.png 14:55 have a good wkend all <les> Long ER2 @ 710.9 15:08 Exited 1/3 ER2 Long @ 711.4 --> + 0.5 15:13 Exited 1/3 ER2 Long @ 711.5 --> + 0.6 15:14 exit stop raised ER2 @ 711 bout time i had a bloody winner friggin mkt's been driving me nuts all day esp annoying as i havnt made a single trade mistake all day 15:15 so they owe me :)) exit stop raised ER2 @ 711.2 15:16 exit stop raised ER2 @ 711.6 15:18 <NihabaAshi> If today wasn't a Friday...I would do another overnight hold. 15:20 <les> Exited Remainder ER2 Long @ 712 --> + 1.1 well at least that gives me back all the pts from the last loser 15:21 <NihabaAshi> However, holding overnight over the weekend has less odds for a GAP up for the next trading day in comparison to if today was either a Mon, Tues, Weds or Thus. <les> i returned to live trading last friday 15:24 overall i'm slightly down - 2pts but have maintained very good discipline throughout 15:25 which is kind of a turning point i guess i think the reason for the poor results has been that my startegies do not do well in certain condirions like most folk - poor volatility, but also 15:26 trends i'm much more a revrsal trader these days there's not been much of that around this last week 15:27 however, the mkt's always there, and the conditions will change to suit me again i guess as they cycle round n round main aim now is to make some money and keep a level head all thro the difficult bits 15:28 <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) 15:32 <les> i gues its pack up n go time now 15:47 have a good w/e all cya monday 15:48 <NihabaAshi> Impressive recovery for the late afternoon trading session. 16:06 It will be a very interesting Monday and Tuesday trading. 16:07 May do some size on Tuesday. Take care all and have a nice weekend...be safe. * NihabaAshi is now known as NihabaAshi_away <Awash> Szu 16:16 * Awash is now known as Awash_afk 16:17 * DisconnectedSession Close: Fri Aug 18 16:23:39 2006 16:23 Sponsor:
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