#FuturesTrades realtime trade posting journal on IRC Othernet server for full-time and part-time traders

August 2006 Trade Log Archived Trade Logs Trading Strategies

August 22nd Tuesday 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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Global Economic Calendar

Another trading day in which I've reached my goal ($500) but I missed a golden opportunity when the FED boys speeches took the market down dramatically around 1pm est.

Reason why I wasn't prepared to trade around 1pm est was because my Barron's economic calendar has undergone some dramatic changes for the worst and they don't keep track of particular key market events like they use to do in the past.

Simply, key market events usually equals increasing volatility and increasing volatility usually equals trade opportunities.

My goal for tonight is to find another economic calendar and preferably one that's more global.

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.com
Note: 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: Tue Aug 22 09:16:18 2006Session Ident: #futurestrades

* Now talking in #futurestrades 09:16

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

<Chilly> gm 09:19

<pat255> hi chilly 09:20

<Chilly> hi pat

<eminitrader> Long ES @ 1300 09:33

hi all

<marklc> short DAX 97

<pat255> hi emini 09:34

<eminitrader> morn pat

<NihabaAshi> Long ER2 @ 705.70 -> small size

2 contracts only

<marklc> out -3 09:35

<pat255> nice entry guys ...missed it ... 09:36

<eminitrader> expecting a break out today ...prolly to the upside

<marklc> 5804 short

<NihabaAshi> No pt1 level reached :( 09:37

adjusting my stops

<eminitrader> Exited 1/3 ES Long @ 1302 --> + 2

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<NihabaAshi> Exited 1/2 ER2 Long @ 707.00 --> + 1.3 09:38

<pat255> vn start emini niha

<marklc> out -3

<eminitrader> thx pat...i'm loaded

<asd> Short ES @ 1302 risk 2

<pat255> wow ...emini

<les> Long ER2 @ 707.5 «« paper »» 09:39

Exited 1/3 ER2 Long @ 708 --> + 0.5 «« paper »» 09:40

<eminitrader> Exited 1/3 ES Long @ 1303 --> + 3

<les> exit stop set ER2 @ 707.4 «« paper »»

<NihabaAshi> Exited Remainder ER2 Long @ 708.20 --> + 2.5

<pat255> vn niha ..great start 09:41

<asuni> emini, it seems that yesterday they made u angry :-)

and hungry :-))

<eminitrader> lol

<asuni> vn trade niha

<eminitrader> good set-up today asuni

<asuni> niha, pm

<marklc> 5808 short 09:42

<les> Trailing Stop Hit ER2 @ 707.4 --> - 0.1 «« paper »» 09:43

<pat255> S 1302.75

1 ctrct

out b/e does not look right ..dang 09:44

S side is wrong now ..at this moment .. 09:45

<marklc> out -3

<pat255> S 03.75 1 09:46

1 ctrct

<szubaark> Shorts NQ @ 1575.25 09:47

<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)

<pat255> out 03.25 ....sigh 09:48

<eminitrader> just a heads up - charts show a big break out ...at least on the ES

<jperl> TotalMarket looks very green this morning...

http://charts.dacharts.com/2006-08-22/JP ERL_014.png

<eminitrader> b/o could go either way ..so be cautious 09:49

<les> Long ER2 @ 707.9 «« paper »» 09:50

late sorry

Exited 1/3 ER2 Long @ 708.4 --> + 0.5 «« paper »» 09:51

exit stop set ER2 @ 706.8 «« paper »»

<szubaark> exit stop set NQ @ 1577 09:54

<pdays> Shorts ER2 @ 707.8 «« paper »» 09:58

<pat255> chop now ...

<pdays> Covered all ER2 Short @ 707.2 --> + 0.6 «« paper »» 09:59

<eminitrader> Exited ES Long @ 1303 --> + 3

Reverse and Enter Short ES @ 1303

<jperl> ER2 bouncing off the VWAP like a rubber ball.... 10:00

<szubaark> nice emini

<eminitrader> thx szu

<jperl> Here is the 40 range bar chart.....

http://charts.dacharts.com/2006-08-22/JP ERL_015.png

blue line is the VWAP 10:01

<szubaark> Covered all Short NQ at 1576.25 --> - 1 10:02

Buys NQ @ 1576.25

<les> Exited ER2 Long @ 706.8 --> - 1.1 «« paper »» 10:04

Reverse and Enter Short ER2 @ 706.8 «« paper »»

<eminitrader> Covered 1/3 ES Short @ 1302 --> + 1

<NihabaAshi> Shorts ER2 @ 707.10 -> small size 10:05

3 contracts

intuition trade

<les> Covered 1/3 ER2 Short @ 706.3 --> + 0.5 «« paper »» 10:07

<NihabaAshi> Covered 1/3 ER2 Short @ 706.50 --> + 0.6

Covered 1/3 ER2 Short @ 706.90 --> + 0.2 10:09

Covered Remainder ER2 Short @ 706.90 --> + 0.2 10:10

<eminitrader> Covered ES Short @ 1302 --> + 1

Reverse and Enter Long ES @ 1302

<NihabaAshi> Lost my patience with that trade.

<szubaark> emini u on the ball this morning 10:12

<pat255> moved up so fast...hideous

<eminitrader> Exited 1/3 ES Long @ 1303 --> + 1

needed that szu ...reading the flow so far

<szubaark> NQ showing strength

<les> downside volumes look stronger to me right now 10:13

so staying with the short

<eminitrader> Long ES @ 1300 -> Add 10:15

oops 10:16

<NihabaAshi> Shorts ER2 @ 707.60 -> small size

<eminitrader> Long ES @ 1303 -> Add

<NihabaAshi> 2 contracts only

intuition trade

<pat255> chop...this month better off doing something else ...lol 10:19

<les> Covered Remainder ER2 Short @ 708 --> - 1.2 «« paper »» 10:20

<szubaark> pat summer is just really TOUGH to trade, especially if u a newbie

<NihabaAshi> Covered ER2 Short @ 708.30 --> - 0.7

Reverse and Enter Long ER2 @ 708.30

<szubaark> NQ showing its strength here

<NihabaAshi> Oh oh :( 10:21

<szubaark> les u back to paper?

<les> for now

till sept

not really that into doing sim

<szubaark> NQ stepping on the gas

<les> just the occasional trade to keep me from getting bored 10:22

<pat255> yes..

<NihabaAshi> Exited 1/2 ER2 Long @ 709.20 --> + 0.9

<eminitrader> Exited 1/3 ES Long @ 1304.50 --> + 1.5

<NihabaAshi> I was going to post about ER2 volatility drying up...

<asuni> lol

<NihabaAshi> Suddenly it popped to the upside :)

<szubaark> lol 10:23

watching for gap close from yersturday

<NihabaAshi> Something going on with EuroFX 10:24

<szubaark> emini where u got gap close on NQ from Monday?

<eminitrader> will be hard to figure out for me szu ... 10:25

<les> Long ER2 @ 709.4 «« paper »»

<NihabaAshi> Exited Remainder ER2 Long @ 709.30 --> + 1

<eminitrader> reason is i run the NQ on globex 24 hr ..sorry

do u need the ES ? 10:26

<asuni> emini, i'm thinking tu use the NTIODOET indicator in ES, u know it?

<szubaark> yeah,thats fine.

<eminitrader> ES is upto 1307.25 10:27

no asuni ..not awre

<asuni> u should know it

Never Trade In Opposite Direction Of Emini Trades

<eminitrader> should have yesterday :)

<NihabaAshi> There's still a little juice left in this for the upside unless ER2 drops another point. 10:29

<eminitrader> was lucky to have ended up -150 from 1000 at one pt

<sub> Shorts YM @ 11400 «« paper »»

<eminitrader> 1000= 1000 loss

<szubaark> that was nice comeback. I ended up breakeven - commissions. it was tough Monday 10:30

<asuni> yesteray was an exception to the rule

<eminitrader> think b/e was a good target for yest.. szu ...orinila target should heve been NO TRADES in the first place 10:31

niha ...u picked a good day for the Montreal trip :) 10:32

<asuni> lol

<eminitrader> what say asuni :)

<les> Long ER2 @ 709 -> Add «« paper »»

<eminitrader> Exited ES Long @ 1304 --> + 2 10:33

Reverse and Enter Short ES @ 1304

<szubaark> geez, they got to retrace every frikin tick

<eminitrader> shaking the dry leaves 10:34

<szubaark> looking for one more pop

<eminitrader> prolly after a minor pullback 10:36

<Chilly> Shorts YM @ 11397

<eminitrader> Covered ES Short @ 1304.50 --> - 0.5 10:38

Reverse and Enter Long ES @ 1304.50

<szubaark> yup.. good emini, looks like a shakeout before breakout 10:39

<Chilly> exit stop set YM @ 11410

<eminitrader> :)

<les> i wouldnt bank on b/out either

could go sideways all bloody day 10:40

its been known to happen :)

<eminitrader> its going to be a b/o day les ..at least on the ES

<szubaark> woudnt surprise me with this turd

<les> em - prob wont go down, but to me, mkts can either pop upwards go sideays right now 10:41

<szubaark> exit stop set NQ @ 1577.50

<eminitrader> thats true les...but if it breaks 1298 ..expect a huge downside

<les> i'm long, so iguess i favour the b/out right now :

<eminitrader> my indicators as of now confirm a trend day to the long side .. 10:42

<szubaark> the longer we chop around here, the better the breakout either way

<les> i'm actuall looking at the patterns on the dail

er2 and es

both sitting on 200 ema 10:43

getting their ares royally kicked about

arses

<eminitrader> see the daily of the ES les...nice set-up confirmed by this am pa

<les> i cn see

<eminitrader> :)

<les> what i 'm saying here concerns the 200 ema

<eminitrader> thats why i'm on a high probability on the long side 10:44

<les> often has a magnet effect before any action happens

so i'm thinking its too soon for upside break today

<eminitrader> oh ..ok ..

dont follow the 200..i do the 79

<les> o course, i could be wrong :)))

ok

<sub> Covered all YM Short @ 11395 --> + 5 «« paper »» 10:46

<les> oops, my mistake em

looking at wrong chart 10:47

its only er2 hanging around the 200ema

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<szubaark> Exited all Long NQ at 1577 --> + 0.75

<les> the other eminis r well above

<eminitrader> dont worry abt it les...its just a game of probabilities anyways .. 10:48

<les> oh, i'm not

<eminitrader> Long ES @ 1303.50 -> Add

<les> i dont use ema's for my signals 10:49

but they can offer a headsup sometimes

<eminitrader> will load up @ 1301-1302 area if the mrkt gets there.... 10:51

<szubaark> Buys NQ @ 1577.75 10:53

<eminitrader> certainly signs of a strong mrkt so far..

<szubaark> they might try to shake the tree lower before going up

<eminitrader> pullbacks r always going to be there szu ..thats why entries are critical 10:54

no follow thru on any short signals so far ...all fakes 10:55

<les> that looks better 10:56

<szubaark> yes emini.. in this tight market entries and JUST AS IMPORTANT as Money Mangment.

<eminitrader> ES stalling...waiting for NQ ..pump it up szu

<les> er2 is unusually skittish today

other eminis look much more robust 10:57

<szubaark> <-- pumping up NQ with 1 contract LOL

<eminitrader> :)

he he he

well u can say u r doing ur bit..

<les> sellers still tryinmg to take control 10:58

er2

<eminitrader> think they lost it les

<les> if the others b/out er2 should follow

<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) 10:59

<eminitrader> Exited all ES Long @ 1304 --> 0 11:00

will wait for a better entry...dont want to give back during lunch time 11:01

<pat255> good trades emini..

dang missed the one in am...:(

<szubaark> Exited all Long NQ at 1577.50 --> - 0.25 11:02

<eminitrader> thx pat ..

pat today pm should give some nice set-ups

<pat255> hmmm gotta go back to office ...in the pm...will c 11:03

<szubaark> Shorts NQ @ 1577.50

emini must be some Longs at the bottom they trying to clean out before upmove 11:04

<eminitrader> prolly szu ...will reenter 1301-1302

low risk with stop 1298

if that breaks could have some very good short set-ups 11:05

<szubaark> exit stop set NQ @ 1577.50 11:08

<eminitrader> Long ES @ 1303.75 11:13

nice supp here on both NQ and ES

<NihabaAshi> ER2 volatility dried up. 11:15

<szubaark> Covered all Short NQ at 1577.50 --> 0

Buys NQ @ 1577.50 11:16

should go this time. enough games

<eminitrader> prooly ..

good enough pullback on the nq

<les> dont bet on it :)

mind u..

some of us have :) 11:17

<eminitrader> just a high probability ...

<jperl> Doesn't look like much more action in the Market this morning .... 11:19

here are my executions....

http://charts.dacharts.com/2006-08-22/JP ERL_016.png

<les> Exited 1/3 ER2 Long @ 709.9 --> + 0.9 «« paper »» 11:20

bout time

<eminitrader> should see a slow creepnow.. 11:21

2 icks up...1 tick down..

<les> or a fat retest of the upper range 11:22

<szubaark> nice jperl.

<jperl> a little rough going around 10:00 but otherwise ok 11:23

<szubaark> Exited all Long NQ at 1577.75 --> + 0.25

too frikin tight. 11:24

not gonna watch this tick around

* szubaark is now known as szubaark_away

<les> exit stop raised ER2 @ 709.7 «« paper »» 11:26

<deepitm> new user - hello everyone 11:27

<asuni> Hello deep 11:28

<eminitrader> hi deep

<les> Exited 1/3 ER2 Long @ 701.9 --> - 7.5 «« paper »»

00ps

Exited 1/3 ER2 Long @ 710.9 --> + 1.5 «« paper »»

<asuni> much better les :-)

<les> exit stop raised ER2 @ 710.3 «« paper »»

thx...

altho i'm not trading any of my setups

have all been intuition trades today 11:29

<eminitrader> working out so far :)

<deepitm> Long YM @ 11396 «« testing »»

<szubaark_away> damn.. exited too soon 11:30

<NihabaAshi> #FuturesTrades Purpose -> No gurus here, no signal calling by a head trader and no intentions to educate. This room is being used by you as a realtime trade journal of trades (real money or simulator) and discussions are for you to add additional info to your brokerage statements. Do not mimic (shadow) the trades by others without their consent.

<eminitrader> looks like szu ..missed it by a minute

u still here szu ..

<szubaark_away> actually i got to leave soon reason i exited

<les> exit stop raised ER2 @ 710.6 «« paper »»

<eminitrader> 1375 - 1578 ..was an excellent enrty area 11:31

1375 = 1575

<deepitm> Exited all YM Long @ 11396 --> 0 «« testing »» 11:34

<les> still quite a few buyers around on er2 11:35

dunno where they bin hiding all day tho

Exited Remainder ER2 Long @ 711 --> + 1.6 «« paper »» 11:37

got out cos looks like one o my setups might be appearing

<eminitrader> sell ? 11:38

<deepitm> Shorts YM @ 11394 «« paper »»

<les> yes

<eminitrader> k thx

<les> er2

havnt got the full signal yet tho

there it is 11:40

Shorts ER2 @ 711 «« paper »»

exit stop set ER2 @ 711.7 «« paper »»

they havnt been reliable sigs in these conditions - since last week 11:41

so i'm not all that convinced

hence sim trade here

<eminitrader> specilly today ...would be carefull with shorts

<les> last for today too

agree em

but a signal is a signal

<eminitrader> with u on that 11:42

took 2 short set-ups am and came out abt b/e..no follo up ..shows a strong mrkt 11:43

<Chilly> exit stop lowered YM @ 11396 11:45

<deepitm> eminitrader - why especially today - fed speeches? 11:46

<eminitrader> No ..nothing to do with that ...15 and 30 min show a nice base for a b/o ..combined with follow thru on the daily and confitmation by this morn pa 11:47

reffering to the ES

<les> Covered 1/3 ER2 Short @ 709.5 --> + 1.5 «« paper »»

not right

Covered 1/3 ER2 Short @ 710.5 --> + 0.5 «« paper »»

<eminitrader> just dont want to play against the odds 11:48

<pat255> k guys c u all later ..ty all back to office

<les> exit stop lowered ER2 @ 711.4 «« paper »»

<eminitrader> bye pat

<pat255> later emini

<les> exit stop moved to breakeven ER2 @ 711 «« paper »»

i dont usually move to b/e with this strat 11:49

but in this mkt... better safe

<Chilly> agree, my YM5 2B TOT getting too noisy indicating failure so move to b/e 11:52

<les> TOT =?

<Chilly> test of top ... high of day in this case 11:53

<les> k

<eminitrader> thats a buy = 2b

<Chilly> Trader Vic named setup 2B TOT or TOB don't know why ... bounce off ema making marginal new high or low at test and then clunk or move up 11:55

<les> Trailing Stop Hit ER2 @ 711 --> 0 «« paper »»

done now

cya all some time

<Chilly> c ya

double bottom or top = 2B I think

<eminitrader> k thx ..so that was a sell.. 11:56

<Chilly> right

<les> 2B and 2T is what Alan farley calls double tops n bottoms

nice shorthand 11:57

<eminitrader> Exited all ES Long @ 1303.75 --> 0 12:01

<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) 12:08

<deepitm> Covered all YM Short @ 11379 --> + 15 «« paper »» 12:10

<eminitrader> Long ES @ 1303.25 12:11

<deepitm> Normally I get out way too early, but dow was nearing earler day support. I've never been good at reversing positions so I'll sit tight 12:14

<Chilly> my problem too deepitm, nice to have company! 12:17

<NihabaAshi> Reminder -> #FuturesTrades chat room trade logs are posted @ http://www.thestrategylab.com/RecentTrades.htm (logs will be updated tonight by 9pm est to current) 12:21

* NihabaAshi is now known as NihabaAshi_lunch

<Chilly> exit stop lowered YM @ 11386 12:31

<eminitrader> Exited all ES Long @ 1303.25 --> 0 12:34

Long ES @ 1303.50 12:38

<Chilly> saved by a tick while walking the dog ... but not for long :( 12:47

YM holding support, good call Deepitm to exit 12:48

<eminitrader> Exited ES Long @ 1303.50 --> 0

Reverse and Enter Short ES @ 1303.50

<Chilly> needs to clunk hard now 12:49

<eminitrader> still holding

if it breaks hhere could test low 12:50

<Chilly> I'm afraid one of Niha's spikes might be coming to take me out ... gak! 12:54

<eminitrader> Covered ES Short @ 1304 --> - 0.5 12:56

Reverse and Enter Long ES @ 1304

think i'll hold on to this ..good supp here

<Chilly> yes, buyers are hanging tough 12:57

<eminitrader> think we'll see new highs

funny thing is i dont see much buying..see only sells 12:59

Exited ES Long @ 1303.50 --> - 0.5 13:00

Reverse and Enter Short ES @ 1303.50

<Chilly> everyone back from lunch right on time today :) 13:01

<deepitm> what just happened?

<eminitrader> sell pressure after it broke supp...all stops taken out 13:02

<Chilly> could be a traingle break and fake

<eminitrader> ..

<Chilly> at least on YM

<eminitrader> but like i said see no buy volume

looks like fed talk caused this move 13:06

Covered 1/2 ES Short @ 1302 --> + 1.5

wish i had size :( 13:08

<Chilly> exit stop lowered YM @ 11376

<eminitrader> nice call and lots of patience chilly ..good trading

<deepitm> As usual, I was out way too early - but I like to keep my hand on my wallet when ever someone from the Fed Speaks. 13:09

<Chilly> exit stop lowered YM @ 11357 13:12

Trailing Stop Hit YM @ 11357 --> + 40

<eminitrader> i would give it the trade of the day ..very nice 13:13

<Chilly> emini thanks, need a good trade mentally ... working on my patience as well (in trading and life)

<eminitrader> Covered Remainder ES Short @ 1301.50 --> + 2

<deepitm> Great job Chilly - what kept you from exiting earlier? I usually fear losing any profit and end up taking small profits/losses while leaving big profits on the table.

<eminitrader> thats what makes it so special :) 13:14

<Chilly> emini, I'd like to have your ability to manuever within first 1/2 hour of trading ... what's your secret to being on the ball? 13:15

<eminitrader> here we go chilly [11:47] <+eminitrader> No ..nothing to do with that ...15 and 30 min show a nice base for a b/o ..combined with follow thru on the daily and confitmation by this morn pa 13:16

<Chilly> deep ... your story is my story exactly ... this time YM was weakest since am and when high percentage setup appeared I said this puppy is going downtown, so I'm holding no matter what. 13:17

<eminitrader> [09:49] <+eminitrader> b/o could go either way ..so be cautious

<Chilly> emini, I think it's "I'm reading the flow right today" ... that is skill!! 13:18

<eminitrader> chilly -- just that u know my first trades are usually bet 10 - 10.30 ....just exceptions on days like these based on the previous days pa

give it time and i'm sure u could do the same 13:19

<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) 13:20

<Chilly> 2 days lows not far away ... will the market spank the longs today or will the shorts bend over on the way back up? 13:23

Deep ... see, I did it again, pulled trigger too soon ... haha 13:24

<szubaark_away> Buys NQ @ 1566.75 13:25

<deepitm> If I had a +40 trade on the YM I would typically call it a day. Another one of my problems. I let the last trade (good or bad) influence my next trade. 13:27

<Chilly> I'm new here too and I notice the folks in this room are very good at executing, evaluating and executing again which I hope to learn from them because I'm same as you on this again. 13:29

<eminitrader> Long ES @ 1300 13:31

2 pt stop on this baby

<szubaark_away> Exited all Long NQ at 1566.50 --> - 0.25 13:35

Shorts NQ @ 1566.50

"intuition" trade LOL 13:36

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<eminitrader> Exited all ES Long @ 1300 --> 0 13:37

<codehead> friend had a mkt turn time of 1pm est, the dump was there exactly

his last turn time for the day was 1:50 est

where he expected it to go int he direction of first turn time, 10:50, till close 13:38

i guess that means up, but first leg wasn't that steong

strong

<eminitrader> Long ES @ 1299.50 13:41

<szubaark_away> Covered all Short NQ at 1563 --> + 3.5 13:42

<Chilly> nice!! clunkage! 13:43

<eminitrader> Long ES @ 1299 -> Add

Exited all ES Long @ 1298.50 --> - 1.5 13:45

willnow look for sells ... 13:46

<Chilly> YM hits 135m ema ... good place for support to come in ... 13:47

<eminitrader> i'll give more weight to pa..

if there is a revrsal ..if ..then it may happen only after mrkt tests a minimum 1296.25 13:50

i refer to the ES only 13:51

<Chilly> yup, my comment was particular to YM only, with 2 hours left to recover

haha

<eminitrader> its an outside day ..method where the downmove will be a minimum of the upmove from yesterdays high 13:52

80% effective 13:53

<Chilly> downmove is measured from yesterday's low? 13:54

<eminitrader> yep

todays high - yest high 13:55

and that minus yest lows

<Chilly> interesting, good info 13:56

<eminitrader> so high probability of a short working out

Shorts ES @ 1300 13:57

will sell upto 1302 stop 1304 13:58

<Chilly> YM has surpassed that minimum and testing 2 day low so you would short?

<eminitrader> i'm refer to the ES ...dont follow the ym chart ..so dont know if this set-up/method is valid 13:59

<szubaark_away> Shorts NQ @ 1566

<eminitrader> for todays price action

sorry :(( 14:00

<Chilly> ok, just trying out the formula ... will be exciting to watch

<eminitrader> yeo so watch for a min 1296.25 on ES

hopefully will go lower :)

<Chilly> that would be trade o' the day!! 14:01

<eminitrader> yep if it works out ....set-up is good for this move 14:02

be back 14:03

<szubaark_away> Covered all Short NQ at 1563.50 --> + 2.5 14:10

got to leave 14:11

<eminitrader> bye szu

<Chilly> c ya

<szubaark_away> otherwisae would have held with a breakeven Stop

bye emini. you milking it hard today :)

<eminitrader> yep nice setup 14:12

<asuni> 1296.25 ur target emini?

<eminitrader> 1296.50 for half

<asuni> pt"? 14:14

pt2?

<substanz> Long YM @ 11335 «« paper »»

<eminitrader> pt 1

<asuni> and ur pt2? 14:15

<eminitrader> trailing ..will let it ride

<asuni> thks

first time i can find a trader catching money with consistence in es 14:16

congratulations

<eminitrader> just give it time and u will learn the little tricks that keep u ahead

<deepitm> Need to leave for the day. Enjoyed my first day on the board. Good luck the rest of the way everyone. 14:17

<Chilly> c ya 14:18

<eminitrader> bye

<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) 14:32

<eminitrader> mrkt in zombie mode 14:38

Covered all ES Short @ 1300 --> 0 14:40

will short 1301 14:41

<Chilly> Long YM @ 11344

exit stop set YM @ 11334 14:43

<eminitrader> Shorts ES @ 1300.50 14:44

2 only

<Chilly> exit stop raised YM @ 11340 14:45

has to go now, not giving any room here 14:46

<jperl> TotalMarket had a reversal point at 13:00...and kept right on dropping

<eminitrader> not untill it breaks 1303 on the ES 14:47

may run up a pt or so before reversing to the downside

<Chilly> Trailing Stop Hit YM @ 11340 --> - 4 14:48

<eminitrader> man thats a real tight stop 14:49

<Chilly> lack of conviction means never should have taken it in first place 14:50

<eminitrader> know what u mean

<jperl> http://charts.dacharts.com/2006-08-22/JP ERL_017.png 14:51

<eminitrader> byt should'nt be stubborn at the same time

<Chilly> what timeframe do you enter on, emini

<eminitrader> byt=but

3 minin line with 1min

if in conflict give weightage to 3 min 14:52

<Chilly> ok

<eminitrader> sometimes enter on 5 min but then stops based on 5 min pa

focus on 1 min during high volatility 14:53

one last surge here to shake out and then comes the move ..its abt time

hope it works as per the script :)) 14:54

<jperl> ER2 at VWAP, 708.20 14:58

* jperl is a fool if he trades near the VWAP

<asuni> vwap? 14:59

<jperl> that's my daily reminder

<eminitrader> Shorts ES @ 1301 -> Add

<jperl> VWAP=Volume Weighted Average Price for the day

<asuni> THKS

* NihabaAshi_lunch is now known as NihabaAshi 15:00

<eminitrader> Shorts ES @ 1302 -> Add 15:02

holding 5

<Chilly> emini = nerves of steel 15:03

<eminitrader> stops at 1303.50

itsa good set-up 15:04

see it tank now :))

avg short 1301.25 15:06

<asuni> 1301.1666666666 exactly :-) 15:07

<eminitrader> no cause 2 in 133.50 1 in 1301 and 2 in 1302

<jperl> ES VWAP 1301.75 15:08

<Chilly> good conviction, emini !!

<eminitrader> actually think somewhere around 1301.37

<NihabaAshi> Anybody has a economic calendar link that shows that there was a FED speech today at 1pm est ??? 15:09

<eminitrader> seefor a couple more bars and will lower my stop

not me sorry niha

<Chilly> not on mine (using Fidelity calendar)

<NihabaAshi> My normal source is no longer adequate (they don't show as much stuff) after they made some drastic changes one week ago.

<asuni> http://www.dailyfx.com/story/calendar/we ekly_focus/Weekly_Economic_Calendar_For_ Week_1155920333127.html 15:10

look here niha

<substanz> Exited all YM Long @ 11361 --> + 26 «« paper »» 15:16

<Chilly> nice work! 15:17

<substanz> thx 15:18

i test a new strategy...

<codehead> what is it sub? 15:19

<eminitrader> nice substanz 15:20

<substanz> its based on 2 stochastics 15:21

<eminitrader> exit stop lowered ES @ 1303

<substanz> hum, my target was 11371 :( 15:25

<eminitrader> Covered all ES Short @ 1303 --> - 3.5

<substanz> 11371 is the 200 periods sma on 3 min chart 15:26

<eminitrader> wonder if its shrts covering or real buying ?

would'nt care less but just curious

<jperl> I'm done for the day....... 15:27

http://charts.dacharts.com/2006-08-22/JP ERL_018.png

ok day....but missed the good stuff over lunch

<eminitrader> looks like they picked me out :(( 15:29

<Chilly> thought that only happened to me 15:32

<eminitrader> i am a human being too:) 15:33

and a trader with stops who can get suckered 15:34

<Chilly> think market is in a low volume holding pattern?? ... what's the next impetus to move it one way or another? 15:35

<eminitrader> cant comment on that chilly ..and really does'nt matter ..think the moves r done for the day ...just noise now 15:36

<Chilly> I meant in days to come

<eminitrader> lets wait for a new trading day ...and hope to cash in on some quick moves :))

<Chilly> sounds like a plan 15:37

<eminitrader> why worry in the meantime..worries should end by 4.15 est 15:38

facin res here but not willing to break or retrace 15:41

<Chilly> emini, you do you ever hold contracts overnight?

<eminitrader> very very very rare ...used to ..but not anymore ... 15:42

want to end it by 4.15 or earlier

<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

<Chilly> gn folks 15:59

<cmr> substanz: how about your stoch trades? What param. do u use ? 16:09

<substanz> you can visit this link for the parameters of this strategy : http://www.ecbot.com/cbot/pub/cont_detai l/0,3206,1058+15781,00.html 16:16

<NihabaAshi> Take care all and see all tomorrow. 16:46

* DisconnectedSession Close: Tue Aug 22 16:46:44 2006

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