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#FuturesTrades August 18th Monday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+4.60	+188.90	+2231.50
$460	$18,890	$223,150

Emini NQ

1155am - 12noon am est

click on image to view actual size

Current Performance Record

Supply/Demand Change of the Day

Profit/Loss Statement

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.

<@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

Session Start: Mon Aug 18 08:59:23 2008Session Ident: #futurestrades

* Now talking in #futurestrades 08:59

<@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<tzar> gm NihabaAshi 09:01

<LP> gm all 09:10

<+tzar> gm LP 09:11

<MC> morning 09:12

<+LP> tzar :) 09:13

<ItalianSharp> morning all

<werner> gm all 09:22

<+tzar> werner! 09:24

<+werner> hi tzar

<+tzar> how you doping 09:25

doing* 09:26

<+werner> fine thanks

<ripsboy> gm all... 09:29

<PapaJon> gm all

<jsb4ch> good morning 09:32

<pat255> gm all

* Spartan_Away is now known as Spartan 09:33

<Spartan> Long ES @ 1300.25 «« paper »» 09:36

<+Spartan> Exited all ES Long @ 1298.75 --> - 1.5 «« paper »» 09:37

<+tzar> Shorts ES @ 1299.75 «« paper »»

1 out 09:39

<kosmipt> long ES 98.25 paper

<@NihabaAshi> weak support area

<+tzar> Covered 1/2 ES Short @ 1298.50 --> + 1.25

buy limit to cover ES short @ 1296.00 09:40

<+kosmipt> out ES 97.00 -1.25 paper 09:41

<+tzar> buy stop to enter long ES @ 1298.00 09:43

<szubaark> Shorts ES @ 1296.75 «« paper »» 09:44

<@NihabaAshi> Shorts ER2 @ 749.10 -> medium size 09:45

<+szubaark> Covered all Short ES at 1296.75 --> 0 «« paper »»

<@NihabaAshi> Covered ER2 Short @ 750.50 --> - 1.4 09:46

<+szubaark> :(

<@NihabaAshi> Shorts ER2 @ 750.00 -> medium size

intuition still

<+szubaark> Shorts ES @ 1295.25 «« paper »» 09:47

Covered all Short ES at 1294.75 --> + 0.5 «« paper »»

will wait for better entry 09:48

<+MC> Long ES @ 1295 «« paper »»

<@NihabaAshi> Covered ER2 Short @ 748.90 --> + 1.1 09:50

<+szubaark> Shorts ES @ 1293.50 «« paper »» 09:51

<@NihabaAshi> Shorts ER2 @ 748.20 -> small size 09:52

<+szubaark> Covered all Short ES at 1292.75 --> + 0.75 «« paper »»

<@NihabaAshi> intuition

<+MC> Exited all ES Long @ 1293.50 --> - 1.5 «« paper »»

<@NihabaAshi> Covered ER2 Short @ 749.10 --> - 0.9 09:53

<+MC> Shorts ES @ 1293.75 «« paper »»

<silo> man my program crashed 09:54

<+silo> had to restart

there was a long i wanted to catch

did price go up at all?

<+MC> Shorts ES @ 1294.75 -> Add «« paper »» 09:55

<+szubaark> no, straight down

<+silo> k

i still have a chance then

<bazooka85> gm 09:56

<+MC> hi baz

<+bazooka85> LOL 09:58

;)

<+MC> Covered all ES Short @ 1293 --> + 2.5 «« paper »»

<+szubaark> Shorts ES @ 1293.25 «« paper »» 10:00

<+MC> Long ES @ 1292.50 «« paper »» 10:02

Exited all ES Long @ 1293.75 --> + 1.25 «« paper »» 10:03

<@NihabaAshi> Long ER2 @ 750.10 -> small size 10:07

2 only

<+silo> yeah i'm looking for longs too 10:08

dax so weak though :(

and ym :( 10:09

waiting a little longer

<+szubaark> Expecting Volatility spike soon, hopefully to downside, Im Short

<@NihabaAshi> Exited ER2 Long @ 749.10 --> - 1 10:10

<+silo> Shorts ER2 @ 748.5

<+szubaark> Covered all Short ES at 1291.25 --> + 2 «« paper »»

<@NihabaAshi> Shorts ER2 @ 748.70 -> medium size

Covered ER2 Short @ 750.30 --> - 1.6 10:13

Long ER2 @ 750.60 -> large size

<+bazooka85> Shorts ES @ 1293.50 «« paper »»

<+Spartan> Long ES @ 1293.50 «« paper »»

<+silo> Covered ER2 Short @ 751.4 --> - 2.9

Reverse and Enter Long ER2 @ 751.4

<+szubaark> Buys ES @ 1293 «« paper »» 10:14

<+tzar> Long ES @ 1292.75

<+bazooka85> Covered all ES Short @ 1292.75 --> + 0.75 «« paper »»

<+MC> Long ES @ 1292.75 «« paper »» 10:15

<Splurge> es doesnt believe this move

<+silo> Exited all ER2 Long @ 750.20 --> - 1.2 10:16

<+MC> Long ES @ 1292 -> Add «« paper »»

<+Spartan> Exited all ES Long @ 1291.50 --> - 2 «« paper »» 10:17

<+tzar> Long ES @ 1291.50 -> Add

<+Spartan> second time I got burnt bottom picking :(

<+MC> Long ES @ 1291.25 -> Add «« paper »» 10:18

<+bazooka85> missed my long :(

<@NihabaAshi> Exited ER2 Long @ 749.50 --> - 1.1

<+tzar> Long ES @ 1291.25 -> Add 10:19

<+silo> Shorts ER2 @ 748.20

<@NihabaAshi> 3 point killer chop in ER2 10:20

<+MC> Exited all ES Long @ 1291 --> - 2 «« paper »» 10:21

stopped to damn near the tick :(

<+Spartan> Shorts ER2 @ 748.4 «« paper »» 10:24

Covered all ER2 Short @ 749.4 --> - 1 «« paper »» 10:25

<@NihabaAshi> top of that range again 10:26

<+tzar> Exited 3/4 ES Long @ 1293.00 --> + 1.75

h1 10:27

<+bazooka85> Shorts ES @ 1292.50 «« paper »»

<@NihabaAshi> Shorts ER2 @ 750.20 -> large size

<+MC> Shorts YM @ 11591 «« paper »» 10:28

<+tzar> sell limit to exit ES long @ 1293.50 10:29

<+MC> Shorts YM @ 11602 -> Add «« paper »» 10:30

<@NihabaAshi> :(

<+silo> chop to death

<+bazooka85> whew 10:31

1 tick away from my stop

<+MC> Covered 1/2 YM Short @ 11591 --> + 11 «« paper »»

<@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

<@NihabaAshi> Covered ER2 Short @ 749.60 --> + 0.6

<+Spartan> Shorts ES @ 1292.50 «« paper »»

<+MC> Covered Remainder YM Short @ 11595 --> - 4 «« paper »»

<@NihabaAshi> shallow profit target...almost reshorted after I cover 10:32

ER2 back at the top of the range again

<+silo> Covered all ER2 Short @ 750.60 --> - 2.4

<+tzar> Exited Remainder ES Long @ 1293.50 --> + 0.75

<+bazooka85> Covered all ES Short @ 1294.00 --> - 1.5 «« paper »»

<+tzar> nope

+4.00 10:33

err

200$

<@NihabaAshi> Long ER2 @ 750.70 -> medium size 10:35

First trade error of the day :(

<+MC> Long YM @ 11597 «« paper »» 10:36

<@NihabaAshi> Exited all ER2 Long @ 750.70 --> 0

<+szubaark> Volatility Contracting after that Opening Drop 10:37

Exited all Long ES at 1293 --> 0 «« paper »» 10:38

<+silo> Long ER2 @ 751.90

<+Spartan> Covered all ES Short @ 1294.50 --> - 2 «« paper »»

<timmyb> gm all 10:39

<+timmyb> Long ES @ 1293.25 «« paper »» 10:40

darn didnt move chart forward 10:41

<+Spartan> Shorts ES @ 1293 «« paper »»

<+timmyb> may be trade error #1

<+bazooka85> Long ES @ 1293.00 «« paper »»

<+timmyb> Exited all ES Long @ 1293.00 --> - 0.25 «« paper »»

there small loss toresituate

<@NihabaAshi> Long ER2 @ 751.60 -> medium size

<+timmyb> Long ES @ 1293.25 «« paper »» 10:42

lol right back in

<+MC> Exited all YM Long @ 11609 --> + 12 «« paper »» 10:43

<+timmyb> nj MC

I like the buying at this level

will hold my long till i see weakness 10:44

<+Spartan> Covered all ES Short @ 1295 --> - 2 «« paper »»

<@NihabaAshi> tighten trail for this strange price action over the past few minutes

<+Spartan> done for day, good luck trading this market. It killed me today:(

<+timmyb> i dont have ER open may have to take a look here niha

<+MC> Shorts YM @ 11612 «« paper »» 10:45

Covered all YM Short @ 11602 --> + 10 «« paper »» 10:46

<@NihabaAshi> Exited ER2 Long @ 752.20 --> + 0.6

Spartan...it usually is tough trading out of the gate when the price action "made it's move" prior to the Open. 10:47

<+timmyb> Long ES @ 1293.25 -> Add «« paper »»

<bazooka85> Exited all ES Long @ 1293.75 --> + 0.75 «« paper »» 10:50

<@NihabaAshi> U.S. women beat Japan in soccer to make it to the Gold/Silver medal match :) 10:51

Long ER2 @ 753.60 -> medium size

<+bazooka85> darn it

<+timmyb> duno if it worked mc

moving into nice + delta area 10:52

on ES

have to see how ti reacts

<GoodMood> what happend to SOX ? 10:53

<+bazooka85> wow look at oil 10:55

nlod

<+MC> Shorts YM @ 11615 «« paper »» 10:56

<@NihabaAshi> Exited ER2 Long @ 754.70 --> + 1.1 10:57

<+silo> Exited all ER2 Long @ 753.9 --> + 2 10:58

<+MC> Shorts YM @ 11617 -> Add «« paper »»

<+bazooka85> dont like how it is trending upwards, slow red candles, big green ones 11:00

<+MC> Covered 1/2 YM Short @ 11610 --> + 7 «« paper »»

Covered Remainder YM Short @ 11627 --> - 12 «« paper »» 11:01

lol

<+bazooka85> Shorts ES @ 1295.50 «« paper »» 11:03

Covered all ES Short @ 1294.75 --> + 0.75 «« paper »» 11:04

<+silo> Shorts ER2 @ 753.2 -> large size

<+MC> Long YM @ 11604 «« paper »» 11:07

Exited 1/2 YM Long @ 11614 --> + 10 «« paper »» 11:08

Exited Remainder YM Long @ 11623 --> + 19 «« paper »» 11:10

<+bazooka85> Shorts ES @ 1295.75 «« paper »»

<+silo> Covered all ER2 Short @ 754.60 --> - 1.4 11:11

<+bazooka85> Covered all ES Short @ 1295.00 --> + 0.75 «« paper »»

all market orders ;)

<@NihabaAshi> Long ER2 @ 754.50 -> medium size 11:14

<+bazooka85> Shorts ES @ 1295.25 «« paper »» 11:21

<@NihabaAshi> Exited ER2 Long @ 753.50 --> - 1 11:22

<+bazooka85> oil first green candle in forever

Covered all ES Short @ 1294.00 --> + 1.25 «« paper »» 11:23

<+MC> Shorts YM @ 11612 «« paper »» 11:25

entered here late...typing with 1 arm sry 11:26

Covered all YM Short @ 11602 --> + 10 «« paper »»

<+bazooka85> Long ES @ 1293.75 «« paper »»

* starglazer - [ is away ] [ Reason: Activate IdleAway: 300 min ] [ Time: 08:27:07 ] [ Pager: off ] [ Log: off ] 11:27

<+bazooka85> Exited all ES Long @ 1294.25 --> + 0.5 «« paper »» 11:29

got scared

Shorts ES @ 1294.00 «« paper »» 11:32

Shorts ES @ 1293.50 -> Add «« paper »» 11:35

may be overconfident here

<@NihabaAshi> I've tried 3 weak support breakdowns...got burnt all 3x today so far :( 11:36

<+pat255> choppy ...as hell need to stay out for me

<@NihabaAshi> However, all I need is one runner.

<+bazooka85> nice 11:37

<+timmyb> Long ES @ 1293 -> Add «« paper »»

<+bazooka85> Covered all ES Short @ 1294.25 --> - 1 «« paper »» 11:38

-.5* per ct

Shorts ES @ 1294.50 «« paper »» 11:40

Covered all ES Short @ 1293.25 --> + 1.25 «« paper »» 11:44

* codehead_afk is now known as codehead 11:45

<+bazooka85> Shorts ES @ 1293.50 «« paper »»

<@NihabaAshi> Long ER2 @ 752.00 -> medium size 11:48

They saw me coming...lets see what happens

<+timmyb> they must ahve binoculars

;)

<+silo> Shorts ER2 @ 752 11:49

<@NihabaAshi> Yeah...easy to see us when the volatility is contracted :(

<+bazooka85> stop and reverse set 11:50

<@NihabaAshi> me too :)

support not getting stronger :( 11:51

Looking for a Houdini Escape...

Exited ER2 Long @ 752.10 --> + 0.1

<+bazooka85> im scared 11:55

but will keep my short!

<+szubaark> Shorts ES @ 1292.75 «« paper »»

<@NihabaAshi> Shorts ER2 @ 750.80 -> medium size 11:56

Another weak support breakdown...

Maybe 4 time around is the charm

<+MC> light volume breakdow ugggg

<+bazooka85> holy crap!

<+szubaark> Volatility Spike

<+bazooka85> Covered all ES Short @ 1291.75 --> + 1.75 «« paper »» 11:57

yesss

<+MC> good luck guys...get em bazooka :)

im out

<+szubaark> Covered all Short ES at 1291 --> + 1.75 «« paper »»

<+bazooka85> noooo

cya mc

<@NihabaAshi> I still haven't caught my one runner trade of the day.

<+bazooka85> :(

<+silo> oh yes !!

<+bazooka85> too late! 11:58

damn

exited too early*

i do that a lot when i have profit

<+silo> Covered all ER2 Short @ 749.10 --> + 2.9 12:01

2 contracts so +5.9 pts :)

oh yeah

covered back a lot of the losses

wheew

<@NihabaAshi> Covered ER2 Short @ 749.50 --> + 1.3 12:03

<+pat255> vn N

<+timmyb> Long ES @ 1287.50 -> Add «« paper »»

<@NihabaAshi> Shorts ER2 @ 749.20 -> small size 12:04

Shorts ER2 @ 749.30 -> Add 12:05

2 now

Covered all ER2 Short @ 749.90 --> - 1.3 12:08

ooops

Covered ER2 Short @ 748.90 --> + 0.3

<+silo> Shorts ER2 @ 748.60

greedy trade 12:09

<+bazooka85> nah

it's pretty good

<@NihabaAshi> That weird contracting volatility spooked me out of my Short. 12:10

<+bazooka85> maybe not

<+silo> Covered all ER2 Short @ 749.20 --> - 0.6

<@NihabaAshi> Earlier today I didn't have any fear of it and paid the price (losses) for such.

This time I decided to give it a little more respect and take what I could get.

<+bazooka85> i've been doing that for last two days 12:12

taking whatever i can get

<+szubaark> Shorts ES @ 1287 «« paper »» 12:13

<+bazooka85> Long ES @ 1287.25 «« paper »» 12:14

<+silo> Shorts ER2 @ 748.4 12:15

intuition

<+bazooka85> shorts look good 12:16

damn

nasdaq fell off the little support it just made

<codehead> YM has a .500 retracement at 11525--and it's been holding strong around there so far 12:17

* anglo is now known as away 12:23

<@NihabaAshi> Ohhh the suspense...pass some more popcorn please.

Shorts ER2 @ 748.50 -> medium size

<+silo> Shorts ER2 @ 748.20 -> Add 12:24

<+bazooka85> wow was one tick from stopping me out again

<@NihabaAshi> It's trying hard to shake us out

<+bazooka85> i have nice stops!

<+szubaark> Covered all Short ES at 1287.25 --> - 0.25 «« paper »»

<@NihabaAshi> geeesh 12:25

:(

should'uv had a point by now.

<+szubaark> yup, Volatility quickly fizzled 12:26

<@NihabaAshi> weak support developing

<+codehead> long YM 11530, stop 11518 <paper> 12:28

<@NihabaAshi> Covered ER2 Short @ 749.50 --> - 1

I think the Summer trading session kicked in around mid July because volatility has been steadily declining since then.

Simply, anybody that's been having trading problems since around mid July... 12:29

You may want to check to see if your trading approach is sensitive (for the worst) to changes in volatility.

<+silo> Covered ER2 Short @ 750 --> - 1.6

Reverse and Enter Long ER2 @ 750

<+bazooka85> Exited all ES Long @ 1288.25 --> + 1 «« paper »» 12:30

<+codehead> exit half +13 YM <paper>

<@NihabaAshi> Long ER2 @ 750.10 -> large size

<+codehead> i hav a YM target around 11560, should get there 12:33

<@NihabaAshi> Exited ER2 Long @ 749.10 --> - 1 12:34

<+codehead> exit reaminder YM +8 <paper> 12:35

it's ok, but stalled, gonna work

<+szubaark> Shorts ES @ 1286.25 «« paper »» 12:37

<@NihabaAshi> Shorts ER2 @ 748.80 -> medium size 12:39

<+szubaark> Weak Support area

<@NihabaAshi> caught a few upticks after 748.50

lets see it it pays off

<+timmyb> Exited ES Long @ 1285.75 --> - 7.5 «« paper »» 12:41

Reverse and Enter Short ES @ 1285.75 «« paper »»

<@NihabaAshi> Geeesh...feels like my contracts are the only ones being trade back in forth...

<+silo> Exited all ER2 Long @ 748.30 --> - 1.6

<@NihabaAshi> This thing is stuck in concrete

<bazooka85> Long ES @ 1285.00 «« paper »» 12:42

<+silo> Shorts ER2 @ 747.9 -> large size

<+bazooka85> Long ES @ 1284.50 -> Add «« paper »»

avg 1284.75*

<@NihabaAshi> Go baby go...

<+szubaark> Covered all Short ES at 1283.75 --> + 2.5 «« paper »» 12:43

<@NihabaAshi> I need a runner to get me close to going profitable for the day.

<+bazooka85> ugh

<@NihabaAshi> Covered all ER2 Short @ 745.50 --> + 3.3 12:44

<+bazooka85> nice!

<kantor2000> nice Niha 12:45

<@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

<+silo> Covered all ER2 Short @ 745.5 --> + 2.4

<@NihabaAshi> still in the red...needed to dump that early and not get greedy

<+silo> me too

still in the red also 12:46

this morning's chop got me

<@NihabaAshi> Long ER2 @ 745.40 -> small size

<+szubaark> chop? right at open we sold off to 10:30

Shorts ES @ 1283.50 «« paper »» 12:48

ES 1280 Next? 12:50

<@NihabaAshi> Covered ER2 Short @ 744.80 --> + 0.6 12:51

Reverse and Enter Long ER2 @ 744.80

<+szubaark> Niha, u mean Reverse Short? 12:52

<@NihabaAshi> yeah...I'll correct later

-0.6 on the Long...not +0.6

Shorts ER2 @ 744.80 -> small size

<+bazooka85> Exited ES Long @ 1282.50 --> - 2.5 «« paper »» 12:53

Reverse and Enter Short ES @ 1282.50 «« paper »»

:(

<+timmyb> Covered all ES Short @ 1282.50 --> + 8.25 «« paper »»

<@NihabaAshi> Shorts ER2 @ 744.90 -> Add

<+silo> szu... the chop after the big morning move 12:54

after all that big down move didn't last that long 12:55

<@NihabaAshi> That weird contracting volatility has returned :(

<+szubaark> yes and i dont want to sit thru it so moving Stop 12:56

exit stop set ES @ 1283.50 «« paper »» 12:57

<+bazooka85> Covered all ES Short @ 1283.00 --> + 1 «« paper »»

-.5*

-.5*

<+szubaark> Price starting to creep lower now :((

<+bazooka85> going to stop for a while 12:58

up 3 dollars after commissions for the day, one very big loser

<@NihabaAshi> Covered ER2 Short @ 745.80 --> - 1.9 13:00

<+silo> Long ER2 @ 746 -> large size

<+szubaark> Covered all Short ES at 1283.50 --> 0 «« paper »»

<+bazooka85> Shorts ES @ 1283.75 «« paper »» 13:01

<+codehead> Er relatively strong

<@NihabaAshi> Long ER2 @ 745.80 -> medium size

* away is now known as anglo 13:03

<+codehead> potential vegas on YM and ES szu 13:05

oil took a down bar

<+bazooka85> Covered all ES Short @ 1284.50 --> - 0.75 «« paper »» 13:06

<+silo> Exited 1/2 ER2 Long @ 746 --> 0

<+bazooka85> sigh, turned red for the day

<+szubaark> code, i dont like it (counter) 13:08

<@NihabaAshi> Position size trade error

<+codehead> sure, even if you don't want to take it, something ot watch for a bounce to short into, or be aware of if already short

ER would be the one to take if you wanted a bounce anyway 13:09

<+starglazer> Shorts DAX @ 1283.75

<+codehead> ES better than YM

<@NihabaAshi> trail tighten...don't trust this price action any more 13:11

Shouldn'uv had my profit target or stopped out by now...reason why it's more tricky to analyze 13:12

I need a 747.00 or higher exit 13:13

Some resistance around 747.80

:( 13:14

punks

<+szubaark> Shorts ES @ 1282.50 «« paper »»

<@NihabaAshi> Exited ER2 Long @ 746.20 --> + 0.4

<+silo> Exited all ER2 Long @ 745.50 --> - 0.5

<+szubaark> Weak Support Area 13:15

<+starglazer> 1282 has been strong

the squawkbox pits been yelling hard.. they wanted it down 13:16

<@NihabaAshi> Shorts ER2 @ 745.90 -> small size

I want it down too

<+silo> man... still down 13:17

<bazooka85> taking a long-term position ER 745.8 13:18

<palmer> bazooka u mean long? 13:19

<+codehead> Ym retested lows...

<+palmer> or short

<+szubaark> Covered all Short ES at 1282.50 --> 0 «« paper »» 13:20

dont like this Price Action

<+codehead> YM trying to put in a short-term base

<+bazooka85> going to try trading ER again 13:21

have to find a chart for ER though

<+codehead> i have lower targets on YM, but it couldn't break the low last time, may be due for a bounce

that vegas needs to go now, or it will have taken too long 13:22

11490 top of last peak

<+bazooka85> looks bounce worthy

<@NihabaAshi> Covered ER2 Short @ 746.60 --> - 0.7 13:24

Reverse and Enter Long ER2 @ 746.60

still 1 but looking to ADD

<+silo> Long ER2 @ 746.9

<@NihabaAshi> Long ER2 @ 747.20 -> Add

2 now 13:25

<+silo> Long ER2 @ 747.50 -> Add 13:26

<+bazooka85> out of my long term ER hold--not really long term 747.8 +2.2

<@NihabaAshi> I had my name on 748.10 13:27

market had other plans :(

<+szubaark> Buys ES @ 1284 «« paper »»

<@NihabaAshi> Exited ER2 Long @ 747.20 --> + 0.6 13:28

breakeven on one and +0.6 on the other

<+bazooka85> Long ES @ 747.1 «« paper »» 13:29

ER*

<@NihabaAshi> starting to look like my trail was too tight 13:30

looking for a re-entry

Long ER2 @ 747.30 -> small size 13:31

2 only

<+bazooka85> Exited all ER2 Long @ 747.6 --> + 0.5 «« paper »»

<@NihabaAshi> Same target area of 748.10 or higher

oh oh 13:32

Exited all ER2 Long @ 746.70 --> - 0.6 13:33

Long ER2 @ 747.40 -> small size 13:37

same profit area

1 only

<+szubaark> big battle here..we'll see 13:38

<@NihabaAshi> volatility dead now 13:40

<bazooka85> Long ER2 @ 746.3 «« paper »»

<+silo> Exited 1/2 ER2 Long @ 746 --> - 1.5

<+szubaark> Exited all Long ES at 1283.25 --> - 0.75 «« paper »» 13:41

<@NihabaAshi> Exited ER2 Long @ 745.40 --> - 2 13:42

Reverse and Enter Short ER2 @ 745.40

<+starglazer> Covered all DAX Short @ 1282.75 --> + 1

<+bazooka85> Exited all ER2 Long @ 745.6 --> - 0.7 «« paper »»

<@NihabaAshi> medium size

<+Splurge> Niha are you in +ve territory today cos Im having a tough day here

<@NihabaAshi> +ve 13:43

???

<+Splurge> profit

<@NihabaAshi> No...I was close but I'm getting nickle and dimed the opposite way now on some small contracts

* Awash is now known as Awash_afk 13:44

<+bazooka85> Long ER2 @ 745.3 «« paper »»

longer-term hold

<@NihabaAshi> geessh 13:45

volatility died again

Spike ---> Kill the volatility for 10 - 15mins --> Kill th evolatility for 10 - 15mins 13:46

:(

<+bazooka85> Long ES @ 1282.50 «« paper »» 13:47

<@NihabaAshi> Spikes followed by a long duration of declining or dead volatility

<KN-SR> ES will drop again ...... 79.50 next......i think

<+KN-SR> we may see 76.75 by the end of the day 13:48

<@NihabaAshi> I"m also starving...need to take a break and get something to east before I eay my keyboard.

<+bazooka85> hahaha

<@NihabaAshi> east and eay = eat

<+bazooka85> twitching from hunger i see 13:49

<@NihabaAshi> Yeah...trying hard to not do an early exit...

<+bazooka85> Exited all ES Long @ 1281.25 --> - 1.25 «« paper »»

<@NihabaAshi> Oooopsss...it just dropped

<+bazooka85> out of my ER trade 13:50

-1.3

<+silo> Exited all ER2 Long @ 744.50 --> - 2.4

Shorts ER2 @ 743.70 -> large size

<+codehead> YM holding the low still, unlike the others 13:51

<+KN-SR> :)

<+szubaark> Shorts ES @ 1281 «« paper »»

<+KN-SR> i will drop..............

good trading......see u all next time.........take care 13:52

<+szubaark> bye

<@NihabaAshi> Covered ER2 Short @ 739.90 --> + 5.5

???

Covered ER2 Short @ 743.90 --> + 1.5

corrected

Gotta grab something to eat...can't wait any longer. 13:53

* NihabaAshi is now known as NihabaAshi_away

<+bazooka85> Long ES @ 1281.25 «« paper »» 13:54

if i lose this trade, i'm never using this awkward style i am doing

<+szubaark> Covered all Short ES at 1282 --> - 1 «« paper »» 13:55

best to stay away from this Chop

<+KN-SR> :) 13:56

right now...........

anyway.... gtg...gl 13:57

<+bazooka85> cya kn

<anglo> bye kn

<+KN-SR> :)

<+anglo> that guy is a phenomenon 13:58

<+bazooka85> Long ES @ 1280.25 -> Add «« paper »»

so is nihaba!

<+anglo> yeah

* anglo is now known as asdfg 13:59

<+bazooka85> Exited all ES Long @ 1279.50 --> - 2.5 «« paper »» 14:00

-1.5ish

<+codehead> long small YM 11450 <paper>

<+silo> Covered 1/2 ER2 Short @ 741.60 --> + 2.1

<+codehead> just trying something--confluent targets at 11448 and 49 14:01

exit half +8 <paper>

stop 11445 on remainder 14:03

<@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

<+bazooka85> ok

done for the day

i'm too volatile

good luck!

<+codehead> raise stop to 11453 <paper> 14:07

looking for 11470

stopped +3 on remainder <paper>

mkt may settle after oil close 14:08

long 1c YM 11455, stop 11445 <paper>

just ot see if that confluence level holds up

oil dipping hard 14:11

<+silo> yes sir :)

* asdfg is now known as anglo 14:12

* NihabaAshi_away is now known as NihabaAshi 14:13

<@NihabaAshi> Long ER2 @ 741.90 -> small size 14:14

2 only

<+szubaark> Niha "intuition"? 14:15

<@NihabaAshi> Exited ER2 Long @ 741.20 --> - 0.7 14:16

Yeah 14:17

weak support

Shorts ER2 @ 740.80 -> small size 14:19

2 only

<+szubaark> Creeper downtrend now, tough to get good entry without chasing

<+codehead> stopped on that 1c, -10 <paper>

<+szubaark> as pullbacks are kept to a minimun 14:20

<+codehead> oil close in 9 mins, may firm up after that 14:21

<+silo> oil still down

wow

<+codehead> long 1c 11447 YM

<+silo> but this move is near the end though 14:22

so be careful

<futurible> Long ER2 @ 740.40 «« paper »»

<+codehead> last try, but levels are longer time frame so that was a very tight stop

i'll give it 10 again

exit -5 ticks

<+silo> Covered Remainder ER2 Short @ 739.8 --> + 3.9 14:23

<+codehead> oil surge for close--no long trades till after it closes

<+futurible> Exited all ER2 Long @ 739.40 --> - 1 «« paper »»

<@NihabaAshi> Covered ER2 Short @ 739.40 --> + 1.4

<+codehead> yep, YM bouncing as oil nears close 14:28

<+silo> Long ER2 @ 738.20 14:42

intuition

Long ER2 @ 738.3 -> Add 14:45

<+tzar> Shorts DAX @ 6400.5 14:53

<pdays> Long ER2 @ 738.5 «« paper »» 14:54

<+pdays> Exited all ER2 Long @ 738.8 --> + 0.3 «« paper »»

<+tzar> Shorts DAX @ 6406.0 -> Add 14:56

h2 avg 6403.25 14:57

<+szubaark> Buys ES @ 1279 «« paper »» 15:00

Exited all Long ES at 1277 --> - 2 «« paper »» 15:01

Shorts ES @ 1277 «« paper »»

<+silo> Exited all ER2 Long @ 738.10 --> - 0.3 15:02

<@NihabaAshi> Shorts ER2 @ 737.70 -> small size 15:03

<+silo> Shorts ER2 @ 737.60

:D

<@NihabaAshi> 3 only 15:04

<+silo> Shorts ER2 @ 737.50 -> Add 15:06

<@NihabaAshi> Covered ER2 Short @ 737.60 --> + 0.1 15:07

too much of a fight for me

<+szubaark> Covered all Short ES at 1275.75 --> + 1.25 «« paper »» 15:09

<@NihabaAshi> Long ER2 @ 738.20 -> small size

2 only 15:10

trail tighten 15:11

<+szubaark> will just watch now as we are approaching the dangerous 3:30 til close session 15:12

<@NihabaAshi> trail tighten a little more 15:13

Exited ER2 Long @ 738.70 --> + 0.5 15:14

Long ER2 @ 739.40 -> small size 15:15

<+silo> Covered all ER2 Short @ 739 --> - 2.9

<@NihabaAshi> 1 only

I'm also profitable for the day.

<+szubaark> Nice, Position Size managment was key today? 15:16

<@NihabaAshi> Yeap

Had two big position size mistakes today but overall...good enough to fight back and get profitable 15:17

I just became slightly bearish... 15:18

I'm looking for a Houdini Escape 15:19

Exited ER2 Long @ 738.60 --> - 0.8 15:21

Reverse and Enter Short ER2 @ 738.60

stop reversal

2 only

price action will soon start to get weird soon after 3:30pm est 15:23

Covered ER2 Short @ 739.20 --> - 0.6

Long ER2 @ 739.80 -> medium size 15:24

<+szubaark> heeh..sneaky fakeout

<+silo> Long ER2 @ 740.40 -> large size

<@NihabaAshi> ER2 does this a lot the past year or so... 15:25

Will put in a few spikes off the lows to threaten with a possible "counter-thrust" upwards.

Sometimes they fail but only after going a few ticks your way 15:26

Other times they give you a lot more like now

* +starglazer - [ is away ] [ Reason: Activate IdleAway: 300 min ] [ Time: 08:27:07 ] [ Pager: off ] [ Log: off ] 15:27

<@NihabaAshi> Giving this a little more breathing room before I pull the plug 15:28

<@NihabaAshi> Exited ER2 Long @ 740.30 --> + 0.5

Shorts ER2 @ 738.70 -> small size 15:43

2 only

Covered ER2 Short @ 737.60 --> + 1.1 15:46

I'm done but only made enough money for a sushi meal after commissions :( 15:48

After seeing the current bounce after my exit...

<pat255> not bad N ..was tuff today

<@NihabaAshi> It's been one of those trading days...weird trading days.

<+pat255> k done for today ty all 15:49

* anglo is now known as away

<Baxwill> Long ES @ 1278.0 «« testing »» 15:54

* spe34_away is now known as sep34_away

<+Baxwill> can't believe it

Exited ES Long @ 1278.5 --> + 0.5 «« testing »» 15:55

Long ES @ 741.1 «« testing »» 15:57

<+szubaark> In Hindsight, this will look like a downtrend, but the right edge tells a different story.

<+Baxwill> how should script be changed to trade ER2? 15:58

the instructions seem to be limited to ES and NQ 15:59

<+szubaark> put mouse arrow in text window, click "right hand mouse botton" scroll down to "Set Default Contract" 16:00

<+Baxwill> thks, I was using the keyboard / to try that

Long ER2 @ 741.5 «« testing »» 16:01

Exited ER2 Long @ 741.8 --> + 0.3 «« testing »»

<@NihabaAshi> Trade of the Day for me was around 1:42pm est but unfortunately I had to do an early out of the Short to go eat something to prevent from going crazy... 16:04

<+Baxwill> hungar is most important instinct 16:05

<@NihabaAshi> There's always tomorrow for a better trading day and hopefully less missed opportunities.

Yeah...I put it off since 11am est and couldn't take it any more.

<+Baxwill> Trading not an instinct at all 16:06

<+szubaark> well, you still up for day so the winning streak continues.

<+Baxwill> at least for me

<+tzar> NihabaAshi how did you do today, havent had the chance to follow you for most of day, but looked like you had a rough morning

<@NihabaAshi> I'm not worry about the winning streak...

<+szubaark> by the way Niha, today is the most Ive seen you getting stopped out in a while

<@NihabaAshi> I want to keep my overall position size lower until late September. 16:07

Not stopped out...most was just pulling the rug out from the trade to minimize the loss. 16:08

I only had 3 stop outs (stop loss hit) while the rest I just got tired of looking at the loser and just closed it.

In contrast, I had an usual number of trailing stops hit today. 16:10

With this many trades...I usually catch about 3 runners.

Only caught 1 trade today where I was able to let it run far beyond my profit target. 16:11

That's the psychological aspect of trading...

The morning plays enough head game with those chop that you easily get into the mode of taking fast profits when its available instead of letting some run for bigger profits. 16:12

<+szubaark> yup, u never know in the morning if it will quickly snap back opposite or followthru 16:13

<@NihabaAshi> With all that...the market is in a funk on the daily chart...

Simply, the weird price action is expected until it finds a strong directional movement 16:14

Take care all...got a bad Thunderstorm here.

Gotta check my UPC and turn off my other system 16:15

* NihabaAshi is now known as NihabaAshi_away

<MC> how did you end up Timmy 17:05

<@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
Session Close: Mon Aug 18 19:28:32 2008

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Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

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