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#FuturesTrades August 22nd Friday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+0.00	+228.50	+2271.10
$0	$22,850	$227,110

Emini EMD

1050am - 1055am est

No trades due to family 3 day weekend

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: Fri Aug 22 00:00:00 2008Session Ident: #futurestrades

<KN-SR> Long ES @ 1278.00 07:14

<+KN-SR> add 78.00 07:15

brb 07:20

<Widgetman> gm 07:28

<breakout> gm 07:32

<+KN-SR> Exited 1/2 ES Long @ 1280.50 --> + 2.5

h7 .... s.l 1.25 .... brb 07:33

<+Widgetman> vn KN 07:36

<+KN-SR> thanks Widgetman 07:37

Exited 1/4 ES Long @ 1287.50 --> + 9.5 07:40

h5

Exited 1/4 ES Long @ 1288.00 --> + 10 07:41

h3

Exited 1/4 ES Long @ 1287.00 --> + 9

h2

Exited 1/4 ES Long @ 1286.00 --> + 8

h1

what a day :) 07:42

<+Widgetman> wheeeeeeeee

<Alturus> i just logged on and i see your making your usual nice trades allready =) 07:43

<+KN-SR> :)

<anglo> awesome kn

<+KN-SR> this is my 53rd day in a row with a 10 point trade 07:44

<+Alturus> vn

<+KN-SR> :)

was watching soccer

still watching

brazil vs belgeum 2-0

so going back and forth....... :)

<+Widgetman> ya see dem Brazil girls vollyball play ? 07:45

wow

nice uniforms

hehe

<JimL> what news pushed the futures?

<+KN-SR> when its soccer....i just loose track of everything :)

thanks guys 07:46

<+Widgetman> hehe

<+KN-SR> and halftime

:)

add 86 07:47

nop

85

now 100% intrading for 15 min

Exited 1/2 ES Long @ 1286.50 --> + 8.5 07:48

h 1 + 4

s.l 81.50 + 3.50 07:49

add 85.00 07:50

<+JimL> what news pushed the futures? 07:51

<+Alturus> KN when did you enter your first trade for long today?

<+KN-SR> s.l 83.25 + 5.25

yes this is my only trade so far

<+anglo> alturus[07:14] <KN-SR> Long ES @ 1278.00 07:52

<+Widgetman> KN knows ES :)

<+Alturus> ohh ok thnx.

<+KN-SR> Exited 1/2 ES Long @ 1286.00 --> + 8 07:53

h1 + 4 + 3

h 1 + 7

Exited 1/4 ES Long @ 1287.00 --> + 9

h 1 + 5

<werner> gm all 07:54

<+KN-SR> gm

<+werner> hi kn

<+KN-SR> hello

missed some entries at 80.75 81.25 ...... well for soccer :) 07:55

<+werner> i see :) 07:56

<+Widgetman> anyone know what KN's blog site is ? 07:59

tia

<+werner> if you enter, do you look at the order size in the time and sales kn ? 08:00

<+KN-SR> yes

u dont want to enter against big orders 08:01

u will have to go with the flow.....first few points..must have to be smooth

<+Widgetman> KN you still have a blog site setup for info to help others learn to trade ?

<+KN-SR> i m here 08:02

<+Widgetman> oh

I thought I remembered ya had a blog site also

<+werner> what are big orders for you on es kn?

<+KN-SR> nop......have a page in the froum in case if u have a q

70

<+Widgetman> k

thx

<+KN-SR> uw 08:03

<+werner> 70?

<+KN-SR> yes...

unemployment report in may .... if i m not worng

and i m sure i did post the trade here in the room 08:04

<+werner> ow i see no employmanet

http://www.forexfactory.com/ 08:05

<+KN-SR> in MAY

MAY report

<+werner> ok

<+KN-SR> unemploy ment report gets out every first friday

of the month

<+anglo> werner is asking big orders in book not your biug orders KN. fwiw

<+KN-SR> >20 08:06

<+Widgetman> how high ya think ES will run today KN ?

<+KN-SR> i m too much into soccer........i am loosing half of the stuff here

sorry..........

i cannt help myself

<+Widgetman> hehe

np

go watch soccer

<+KN-SR> about High........as i told yesterday....... 08:07

<+werner> that 70 is that only in pre en post market kn?

<+KN-SR> it was suppose to reach this area yesterday

<+anglo> ...at least that gives me an occupation...lol

<+Widgetman> 1292 again maybe ?

<+KN-SR> i havent done anything today

watched hocky and soccer

i will check it out and will let u know by the end of the hr 08:08

<+Widgetman> thx

<+KN-SR> now too much going on here :) ...........brb

rather bbl 08:09

<+Widgetman> k

<+anglo> werner: 70 is his big size. >20 is the orders he considers big in the book. 08:10

or that's what I interpreted.

<+werner> wow ok tx anglo 08:11

<+anglo> my guess is that big premarket and normal mkt is a diff number 08:12

<+werner> yes inddd

<+anglo> but that's my guess only

<+werner> it is :) 08:13

see 100 down now 08:14

1285.25

<+KN-SR> hit and out 08:33

Exited Remainder ES Long @ 1283.25 --> + 5.25

bbl

Long ER2 @ 727.80 08:40

<@X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission.
More info at http://www.thestrategylab.com/FuturesTradesChatRoom.htm

<tzar> gm 09:01

<silo> http://biz.yahoo.com/ap/080822/wall_stre et.html 09:06

<+werner> gm tzar 09:08

<palmer> nice gap up 09:12

<+palmer> is this from t lehman news 09:13

<@NihabaAshi_away> Good morning all...I won't be trading today due to family event.

<+tzar> NihabaAshi_away if you having a bbq day, you gotta invite us 09:15

<rickf> gm 09:20

<+werner> gm rickf

<+rickf> :) 09:21

<PapaJon> gm all 09:24

<drt> gm 09:25

<Baxwill> gm traders 09:27

<ripsboy> gm all... 09:29

<+silo> Long ER2 @ 730.30 «« paper »» 09:32

<ItalianSharp> morning all 09:33

<+tzar> what was that on ES

<KN-SR> Exited 1/4 ER2 Long @ 730.80 --> + 3 09:34

<+KN-SR> h3

<+palmer> KN u were in from early this morning??

<+KN-SR> yes

traded ES

<+palmer> cool

<+KN-SR> took out my 10 09:35

now lets try er2

<+palmer> nice

<+KN-SR> just took out 3........see where it goes

<+rickf> always nice to have variety :)

<+KN-SR> problem is liquidity in er2 kind of.............sucks

u cannt get more than 6 contracts 09:36

i may be wrong........afterall this is my 6th day of trading er2

<szubaark> Buys ES @ 1286.25 «« paper »» 09:39

<+silo> Exited all ER2 Long @ 730 --> - 0.3 «« paper »»

Shorts ER2 @ 729.30 «« paper »» 09:40

<+KN-SR> add 72980 09:42

Exited 1/2 ER2 Long @ 730.20 --> + 2.4 09:43

h 3 + 3 09:44

add 72980

<+silo> Covered all ER2 Short @ 730.40 --> - 1.1 «« paper »»

intuition trades did not work out :\ 09:45

<+KN-SR> Exited 3/4 ER2 Long @ 731.30 --> + 3.5

h 3 + 3

+ 0

<+silo> Long ER2 @ 731.80 «« paper »»

intuition

<+KN-SR> Exited 1/4 ER2 Long @ 731.80 --> + 4 09:46

h5

Exited 1/4 ER2 Long @ 732.80 --> + 5

h4

<+szubaark> Exited all Long ES at 1288 --> + 1.75 «« paper »»

<+KN-SR> interesting day

<+silo> how come yo uexited 3/4 09:47

then 1/4

and then another 1/4

isn't that already more than 4/4

:P

<+KN-SR> just follo the holding part

<+silo> ?

<+KN-SR> this damm script doesnt allow me to enter the size

<+PapaJon> jus a heads up... bernie is speaking today 09:48

<+KN-SR> silo........you have a q for me ?

<+silo> ? 09:49

<+KN-SR> if u really want to count count the hold part

i post h.......... after every exit

like h 2

or h 4

<+rickf> or just think "okay he dumped some here......now he dumped some more here"

<+KN-SR> by the way do u use the script? 09:50

<+rickf> his pos size is not my pos size anyway so the quantity doesnt mean much to me

<+KN-SR> if u do u should know that the scrip doesnt allow u to enter the size u can only choose eitehr one

<+silo> i know it doesn't show the size

and everyone trades different size

which is why i exit 1/2 09:51

then another 1/2

<breakout> your size shouldnt matter thats personal

<+silo> and then people see i exited it all

<+KN-SR> hahaha

look at the next line

<+silo> but you exited 3/4 , and then 1/4, and then 1/4

<+KN-SR> i always post how many i m holding

<+silo> shouldn't your trade be exited fully already after the first 1/4

since 3/4 + 1/4 is 4/4 = full position

<+KN-SR> crap

listen u idot

<+silo> not to mention that yo had a 1/2 before that 3/4

unless yo have more than one trade 09:52

<+KN-SR> i m trying wasting my time on u

I ALWAYS POST MY SIZE............HOW MANY I M HOLDING ..........

RIGHT IN THE NEXT LINE

<anglo> rofl

<+PapaJon> silo... look at the following 09:53

[06:46] <KN-SR> Exited 1/4 ER2 Long @ 732.80 --> + 5

[06:46] <KN-SR> h4

h4 means he is holding 4 contracts

<+KN-SR> and silo...... I will never NEVER NEVER reply to ur any qs now beyond

hope u will have wonderful days in trading 09:54

<+silo> oh ok

<+KN-SR> good luck

<+silo> i didn't notice it

now i see it

<+KN-SR> well, u should try to read first ........ b4 trying to catch others in act

<+silo> i'm not trying to catch you in anything 09:55

i'm just asking

<+KN-SR> the script doesnt allow us to enter exact size

<+silo> 'cuz i was a bit puzzled

k

i trade only small size

<+KN-SR> u wont have to ........EVER

<+silo> for i just use exit 1/2, exit remainder

<+KN-SR> NOW WATCH THE NEXT 2 LINE

........

........

........

<+silo> i was not thinking of LARGE size like 15.... which even after you exited 1/4

you can still exit 1/2 of that 3/4

or whatever amount 09:56

a fraction of the fraction you have left

since i wasn't thinkin gi that way 'cuz i only trade 1-2 contract

so my bad

<+KN-SR> NOW WATCH THE NEXT 2 LINE

NOW WATCH THE NEXT 2 LINE

NOW WATCH THE NEXT 2 LINE

<+anglo> silo he uses up to 10-12 exits 09:57

<+KN-SR> Exited 1/4 ER2 Long @ 733.80 --> + 6

<+palmer> silo read

<+KN-SR> h3 ---------------------------------------- holding 3

<+palmer> why u always asking questions- read

dude

<+silo> Exited all ER2 Long @ 733.90 --> + 2.1 «« paper »»

<+anglo> is he gonna have to put exit 1/137 just to please you?

<+silo> no

it was my fault

so everone just relax ok

it's over 09:58

<+anglo> chat rooms have limitations for communication. easy to get confused or angry about NOTHING.

<+KN-SR> s.l 727.80 0.00 h3.............bbl 09:59

<+szubaark> agree anglo

<+KN-SR> Exited 1/4 ER2 Long @ 735.80 --> + 8 10:01

h2

<+silo> it's just that the size and exit style and trade management are completely different than my own... so at the time i wasn't even thinking about the difference

which is why i asked..

i wasn't like... hey you're posting bogus or anything

<+anglo> I'm sure KN will forgive you. 10:02

<+silo> since i trade minimum contract, and fast exit... with only one position in , one position out

instead of gradually exit fraction of a fraction

<+KN-SR> only the first exit should reflact the actual size ........ 3/4 1/2 etc.......................the rest follow the holding part to be clear how many contracts i m holding

<+silo> for me it's simple... like exit half, exit other half... or exit 1/3, exit 2/3.. then done... never fraction of a fraction... since my size is very very small 10:03

<+KN-SR> coz i dont have the option in the script to print exact size

<+breakout> typin easy to misinterpret your ? read as if ?ing his honesty if u read it back

<+silo> i know

fraction of a fraction is only applicable to large size traders

which is why i oversaw that fact

'cuz that wasn't even in my mind at the time when i saw your exit 10:04

<+KN-SR> FOLLOW THE HOLDING PART..........H1 H2 H3 .......AFTER FIRST EXIT......... only the first exit is exactly how many of the total contracts..............

only the first exit is true for 2/3 or 1/2

good trading .......... bbl 10:05

<+szubaark> Shorts ES @ 1287.75 «« paper »» 10:06

<+anglo> hey KN: ever consider holding all for 10 points?. higher risk, I know.

<+Spartan> Long NQ @ 1928 «« paper »» 10:07

<+silo> and just set it to breakeven... if it's a trade he feels really confident about

<+KN-SR> thats where i m heading.......2 left

<+silo> probably

<+KN-SR> anglo

s.l already in at b/e

<+rickf> Bernanke has such the grasp of the obvious: http://biz.yahoo.com/ap/080822/bernanke. html?.v=3

<+KN-SR> the last time i traded er2 .......... the largest pts i had was 7.6 10:08

this is already getting better and better

<+anglo> I meant NOT selling 3/4 almost inmediately KN.

<+KN-SR> hahaha

<+szubaark> Covered all Short ES at 1290 --> - 2.25 «« paper »»

<+KN-SR> nop

<+szubaark> Buys ES @ 1290 «« paper »»

<+anglo> and if stopped, well stopped 10:09

<+KN-SR> i dont go for a BIG win

<@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

<+anglo> ok. just asking.

<+silo> 'cuz time is also money

<+KN-SR> i always go for minimizing my risks

<+silo> if you waste that much time in a long term trade

and it doesn't work out

your time is wasted

in trading/investing.... there's the money gain and loss

<+KN-SR> i have my long term trades

<+silo> and there's the time gain and loss

<+KN-SR> i just dont post it here

<+szubaark> Exited all Long ES at 1289.50 --> - 0.5 «« paper »» 10:10

Shorts ES @ 1289.50 «« paper »»

<+KN-SR> but time to time i let u guys know which way i think price gonna move.........

those are actually my long term terades

<+silo> you entered premarket today?

or yesterday?

<+KN-SR> yes and no

<+szubaark> Covered all Short ES at 1290 --> - 0.5 «« paper »» 10:11

Buys ES @ 1290 «« paper »»

<+rickf> me too - i dont post some of my longterm (or even overnight) futures trades either -- just my day trades go here

<+palmer> hold on 10:12

<+KN-SR> anyway........ need a break..... bbl today we will see 1297.25 hopefully 10:13

<+rickf> cya

<+KN-SR> and 78.25, if it goes down 10:14

which is highly unlikely.........i think 10:15

bbl

<+Spartan> Exited 1/2 NQ Long @ 1932 --> + 4 «« paper »» 10:18

stp set @1927 on other half brb 10:22

<+szubaark> Exited all Long ES at 1291.50 --> + 1.5 «« paper »» 10:46

<+Spartan> Long NQ @ 1933 -> Add «« paper »» 10:48

<+szubaark> Buys ES @ 1290.50 «« paper »» 11:00

<+Spartan> Exited Remainder NQ Long @ 1927 --> - 7 «« paper »» 11:11

Shorts ER2 @ 732.7 «« paper »» 11:12

<+silo> Long ER2 @ 733 «« paper »» 11:16

<anglo> Long ES @ 0 «« testing »» 11:19

<+anglo> Exited all ES Long @ 1 --> + 1 «« testing »» 11:20

<+silo> Long ER2 @ test for anglo «« paper »» 11:22

Exited all ER2 Long @ test exit for anglo --> + test exit for anglo - test for anglo «« paper »»

* codehead_afk is now known as codehead 11:23

<+Spartan> Shorts ER2 @ 732.7 -> Add «« paper »» 11:30

exit stop set ER2 @ 734.1 «« paper »» 11:32

brb

<+szubaark> Exited all Long ES at 1288.50 --> - 2 «« paper »» 11:35

Shorts ES @ 1288.50 «« paper »»

<+silo> Exited all ER2 Long @ 732.10 --> + 732.10 - test for anglo «« paper »» 11:39

<+Spartan> Covered 1/2 ER2 Short @ 731.5 --> + 1.2 «« paper »» 11:41

exit stop moved to breakeven ER2 @ 732.7 «« paper »»

<+silo> Long ER2 @ 732 «« paper »» 11:51

<+szubaark> Covered all Short ES at 1287.75 --> + 0.75 «« paper »» 12:00

Buys ES @ 1287.75 «« paper »»

Exited all Long ES at 1286 --> - 1.75 «« paper »» 12:02

Shorts ES @ 1286 «« paper »»

<+Spartan> Covered Remainder ER2 Short @ 729.7 --> + 3 «« paper »» 12:05

gotta go, good luck trading everyone

<+rickf> short es 1285 paper 12:18

exit 84.50 +.50 paper 12:28

lunchtime volume :( 12:29

back later

<Andy> Long NQ @ 1284.5 «« testing »» 12:31

<+Andy> Exited all NQ Long @ 1284.5 --> 0 «« testing »»

<MK> Shorts ER2 @ 734.2 «« paper »» 13:08

<+MK> Shorts ER2 @ 734.5 -> Add «« paper »» 13:14

* sep34 is now known as sep34_away 13:19

<+KN-SR> good trading to everyone.........see u all next time 13:55

<+palmer> u still on holidays KN

<+KN-SR> yes

anothe 4 weeks

another

<Brutus> cu kn

<+KN-SR> :) 13:56

we may see 87.75 again

<+Brutus> holidays in Europe KN?

<+KN-SR> right now in bangladesh 13:57

<+Brutus> ok cool :)

<+KN-SR> well, i dont see any reason for ES to crash this afternoon......... we will see 1300+ shortly

87.75 area should be next higher low 13:58

good luck

<+Alturus> bye KN

<+KN-SR> :) 13:59

<+codehead> oil unbelievable, filled the gap, then won't stop 14:22

"plummet" the word on oil 14:33

<+rickf> back 14:57

<+breakout> ty have good wkend

<+rickf> ok all have a good weekend and good week of trading to follow --- i'm out all next week teaching, so see you in 10 days or so. see ya when i see ya! 15:14

<+Brutus> cya all 15:16

<+Alturus> have a good weekend everybody!, bye 15:22

<+werner> gn all 15:53

<@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
17:18

Trading Edge:
Strategies
If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management, intermarket analysis with a money back guaranteed policy...click here.

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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In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:

CME Emini Futures EMD, ER2, ES and NQ

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives BUND, BOBL and Schatz

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CME Futures EuroFX EC

Treasury Futures T-Notes ZN, ZF and T-Bonds ZB

Forex Currencies EurUsd, EurYen and UsdCdn

Exchange Traded Funds DIA, IWM, QQQQ, SPY, OIH, XLE and GLD

NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

COMEX Metals Gold GC and ZG

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