#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 23rd Wednesday 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

+11.30 +0.0000

$1,130.00 $0.00

Intuition Trading

Intuition trading or instinctive trading shouldn't be done if your a newbie trader or new to a particular trading instrument.

In fact, I strongly believe that those traders that do intuition trading (including me)...should only do such after many years experience in the markets and only with a few simple rules.

My intuition trading has improved dramatically after I was able to understand and develop a feel for ER2 volatility levels as it traverses from one WRB to the next WRB.

This edge gets a lot of support from other key trading instruments in other well watched markets, key market events and from my experience level as a trader.

Also, intuition trading should only be done with a small size in comparison to the normal position size due to the increased risk exposure.

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: Wed Aug 23 09:30:12 2006Session Ident: #futurestrades

* Now talking in #futurestrades 09:30

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

<pat255> gm all.. 09:31

<eminitrader> morn pat

<pat255> gm emini niha & others 09:32

<asuni> gm pat

<deepitm> gm all 09:33

<eminitrader> morn d

<szubaark> Buys NQ @ 1572.75 09:35

<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> S 1303 es 09:36

<szubaark> Exited all Long NQ at 1575.50 --> + 2.75

<eminitrader> nice quick scalp szu ..good start :)

<szubaark> bought the breakout of yersturday's late range AND HOLD of Globex High 09:37

<eminitrader> noticed that

<pat255> out es 03.5 - 2 ticks 09:40

<eminitrader> 09:40] <eminitrader> that was an aggresive trade

<deepitm> econ for today - New Housing starts @9:00 Crude inventories @9:30 (cst)

<eminitrader> yep ..thx 09:41

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<szubaark> any speeches today? Ive noticed yersurday's selloff was caused by Fed Speech of course it wasnt posted on any of the Retail Trader reports i look at 09:42

<eminitrader> not aware of any

today

<szubaark> emini notice how they make sure we dont get too much info. think only Deutsche Bank and Goldman know that stuff 09:43

<jperl> TotalMarkets opened green this morning....

http://charts.dacharts.com/2006-08-23/JP ERL_019.png

<eminitrader> shouldn't bother us szu .. 09:44

what really pissed me was yest. pa near the 50-60% retrace of the downmove ..tape moves up on every single buy contract and moves down one tick on a 100 09:47

dont know if thats real strenght ..if it falls may see a big downmove..but like everyone says ..dont fight the tape 09:48

<szubaark> Buys NQ @ 1575.75 09:52

exit stop moved to breakeven NQ @ 1575.75 09:54

Exited all Long NQ at 1575.75 --> 0 09:55

Bad entry

<NihabaAshi> Shorts ER2 @ 711.60 -> small size 09:56

intuition trade

Will reverse if needed due to a pending 10am key econ report. 09:57

Covered 1/2 ER2 Short @ 711.10 --> + 0.5 09:59

<szubaark> Shorts NQ @ 1573 10:00

<pat255> wow...drop like a rock 10:01

<NihabaAshi> Covered Remainder ER2 Short @ 709.70 --> + 1.9

<pat255> vn niha 10:02

<szubaark> nice report trade Niha

<yo> indd very good

<eminitrader> Shorts ES @ 1302.50 10:06

Covered 1/2 ES Short @ 1301 --> + 1.5 10:08

<pat255> vn emini 10:09

<eminitrader> thx pat

<pat255> dang dial up slow @office ...

<szubaark> Covered all Short NQ at 1569.75 --> + 3.25 10:10

<pat255> vn szu

<szubaark> thanks

<eminitrader> Covered Remainder ES Short @ 1299.50 --> + 3 10:11

nice shorts szu

<pat255> :) vn

<NihabaAshi> Shorts ER2 @ 707.50 -> small size

<szubaark> you too. maybe we got out little too early :)

<eminitrader> i'm happy ..got my targets 10:12

<szubaark> wow ER dropping like a rock

<NihabaAshi> szu...I got caught changing brokers because I wanted to trade EuroFX...

reason why I missed getting back into ER2 soon after that first short.

:( 10:13

<szubaark> so Niha u in a Euro trade also now?

<NihabaAshi> No...but I'm looking for a trade in it.

<eminitrader> Long ES @ 1299.50 10:14

<NihabaAshi> President Bush is live on the financial TV networks :( 10:15

<eminitrader> Exited ES Long @ 1299 --> - 0.5

Reverse and Enter Short ES @ 1299

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

Covered 1/3 ER2 Short @ 706.00 --> + 1.5 10:16

<eminitrader> Covered ES Short @ 1299 --> 0 10:18

Reverse and Enter Long ES @ 1299

<NihabaAshi> I'm very surprised by the price reaction to the 10am econ report.

It feels like an "over-reaction". 10:19

I don't read the numbers of these reports but there must have been some record breaking numbers (bad or good) in recent comparison to prior numbers.

<deepitm> Inventory of unsold homes rose to a 7.3 month supply - highest since 1993 10:21

<NihabaAshi> Wow

I wonder if the housing stocks are getting hit hard. 10:22

<Chilly> Long YM @ 11354

<szubaark> Shorts NQ @ 1567.25 10:23

<NihabaAshi> EuroFX not doing so hot now after the initial pop to the upside.

<Chilly> exit stop set YM @ 11339 10:24

<szubaark> exit stop set NQ @ 1569 10:26

Covered all Short NQ at 1569 --> - 1.75 10:28

Shorts NQ @ 1567.50 10:30

<pat255> k guys biab ..back to work ty all

<eminitrader> bye pat

<pat255> later emini 10:31

<asd> Short ER2 @ 706.5 risk 2

<NihabaAshi> Oil Index and ETFs dropping hard.

Shorts ER2 @ 706.00 -> Add 10:32

Re-added the 2 contracts i covered earlier. 10:33

<szubaark> widening Stop, not gonna let them shake me out

<asd> Cover ER2 @ 705.5

<eminitrader> Exited 1/2 ES Long @ 1300 --> + 1 10:34

<NihabaAshi> The trade posting script doesn't do the math correctly when I do adds... 10:35

I'll post the corrections after the errors :)

<asuni> it seems a wrb could arrive in er2

<marklc> short eur 1.2819 10:36

<NihabaAshi> Volatility not low enough to catch my attention in ER2...hopefully soon so I can make a decision about these adds.

ER2 volatility slowly declining now. 10:38

I'm now expecting a volatility spike...hopefully in the direction of my trade. 10:39

<deepitm> Long YM @ 11350

<NihabaAshi> Covered 1/3 ER2 Short @ 705.80 --> + 0.2 10:41

<Chilly> Exited all YM Long @ 11355 --> + 1 10:42

<marklc> out + 1 10:43

<eminitrader> Exited Remainder ES Long @ 1299 --> 0 10:44

<NihabaAshi> Oil getting weaker

<asuni> here it comes

<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)

<NihabaAshi> Covered 1/3 ER2 Short @ 704.40 --> + 3.1 10:45

That's +1.60 on that contract and not +3.1 10:46

Still holding one contract from 707.50 level.

<asuni> vn trade management niha

<eminitrader> Long ES @ 1297.75 10:47

<deepitm> Exited all YM Long @ 11340 --> - 10

<szubaark> Covered all Short NQ at 1562.25 --> + 5.25 10:49

<deepitm> I would have thought the inventory supply would have helped a little. After watching the nimble trading of NihabaAshi and szubaark I have a lot to learn

<eminitrader> very nice szu 10:50

<szubaark> thanks.

probobly gonna take it easy now. 10:52

<NihabaAshi> deepitm...I think the market is still having some "residual price reaction" to yesterday's FED comments around 1pm est.

Covered Remainder ER2 Short @ 702.90 --> + 4.6 10:57

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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)

<eminitrader> nice :)

<asuni> wow

<szubaark> Go Niha!

<NihabaAshi> Perfect timing to be done for the day because I have a lot of website work to do right now.

<jperl> time to take a break....here are this mornings trades... 11:02

http://charts.dacharts.com/2006-08-23/JP ERL_0110.png

<szubaark> nice jperl 11:03

<jperl> tx

If I'm not back this afternoon...hope you have a good next week...

I'll be gone till after labor day....enjoy! 11:04

<Chilly> c ya

<eminitrader> yave fun

Long ES @ 1295.75 -> Add 11:08

[09:48] <+eminitrader> dont know if thats real strenght ..if it falls may see a big downmove..but like everyone says ..dont fight the tape 11:13

what an irony ...here i am dding yo my longs :( 11:14

<Chilly> Long YM @ 11316

bottom feeding ... I expect to be punished

<eminitrader> i;m avgering to get out @ b/e 11:15

<szubaark> these bounce attempts look weak

<eminitrader> should retrace at least t0 1298-1300

<szubaark> pretty violant drop. 11:18

<eminitrader> true szu

Long ES @ 1294.25 -> Add 11:20

slast add..holding 5 long

exit stop set ES @ 1292.75

avg long 1295.50 11:22

<Chilly> YM bars have felt spikey ... sellers must have some downside target that I can't see ... lots of fuel if market turns

which would be a surprise 11:23

<eminitrader> t2 = around 1297

<szubaark> be back around pm.. im definetly not touching this 11:24

* szubaark is now known as szubaark_away

<Chilly> exit stop set YM @ 11296

<eminitrader> scalpers haven't started covering at 11:25

<Chilly> funny thing is I had the bar before the 10am number bracketed but didn't pull trigger ... thought too risky 11:27

now taking on more risk because missed the boat ... I deserve to be spanked by the market :) 11:28

<eminitrader> Exited all ES Long @ 1296 --> 0 11:43

<szubaark_away> 1296 was your breakeven? 11:44

<eminitrader> 295.50 szu 11:45

1295.50

<Chilly> Exited all YM Long @ 11318 --> + 2

b/e on day

<eminitrader> holding on to my am gains 11:46

<Chilly> good job

<eminitrader> should have some good pm moves ..willstart selling 1298-1300 11:47

<Chilly> too many mental mistakes for me today ... going to purge the emotions ... bbl 11:52

<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

<deepitm> Lunch 11:58

<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

* szubaark_away is now known as szubaark 13:09

<szubaark> Shorts NQ @ 1556.25 13:10

exit stop set NQ @ 1559 13:12

risky trade due to lunch games 13:15

<eminitrader> Long ES @ 1295.25 13:27

* NihabaAshi is now known as NihabaAshi_away 13:33

<Awash_afk> . 13:36

<eminitrader> Exited all ES Long @ 1294.25 --> - 1

<szubaark> emini i would wait for a double bottom test for a Long 13:39

1294 then try if it holds

but trend is down now so im Shorting

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<Chilly> messy 2B TOB's forming

yeah Szu! 13:40

<szubaark> 2B TOBs?

<Chilly> double bottom test of days low as you said

er2 has one I think ... sloppy 13:41

<szubaark> there she blows

<Chilly> now es

now ym ... yee ha

I'm now looking to buy a bull flag on YM5 ... if one forms 13:42

<szubaark> Covered all Short NQ at 1553 --> + 3.25 13:47

<Chilly> great work today!

<szubaark> thanks.. Nice chart today, i can read this Price Action.

<Chilly> larger sense perhaps that the market is overbought ... sellers fully in charge ... I really missed today's bias. 13:53

<szubaark> oil tanking also 13:55

<Chilly> ah, oil companies profits will be less so sell 13:57

<pat255> hi back for a little bit.. 14:12

everything red..gl 14:13

<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

<pat255> k guys biab ..back to work..ty all 14:51

<jperl> well a couple more trades this afternoon.... 15:02

http://charts.dacharts.com/2006-08-23/JP ERL_0111.png

overall a good day....

see you in September

<Chilly> good job .. see you jperl

Long ER2 @ 698 15:06

exit stop set ER2 @ 698.10 15:07

if shorts aren't done, I'm not hangin' around 15:08

Trailing Stop Hit ER2 @ 698.10 --> + 0.1 15:11

missed the scalp again ... not my day 15:12

<codehead> long YM 11295 <paper>

just testing a friend's turn time 15:13

so far Ym looking strongest, yet can't get cci past +100

touched it three times 15:14

add 11289 YM <paper>

chop, just testing the turn time

exit the add, +5 15:19

<paper> 15:20

<Chilly> Long ER2 @ 698.70 15:22

exit stop set ER2 @ 696.50 15:25

<codehead> exit half YM +7 <paper> 15:26

hold rest to close, testing the turn time 15:27

<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

<Chilly> exit stop raised ER2 @ 698.80 15:35

exit stop raised ER2 @ 699.80 15:38

Trailing Stop Hit ER2 @ 699.80 --> + 1.1

<yo> nice 15:40

<Chilly> thanks

so tomorrow we've got 2 numbers pre-market and 2 after open to keep us on our toes ;) 15:43

<codehead> exit remainder YM +15 <paper> 15:46

<Chilly> gn folks 15:54

<NihabaAshi_away> Take care all and see all tomorrow...should be another good trading day. 16:23

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I don't always trade nor monitor the market from my home office. Sometimes I'll do such from one of my favorite nearby Wi-Fi hotspot or whenever I'm traveling via using this little Wi-Fi detection gadget I got from Think Geek that will show more than just the presence of any nearby signal and its signal strength. It has a 12-character LCD that provides information on signal availability and strength as well as essential network information, including SSID, security status and channel. When multiple networks are present the LCD me to scroll through information for each network.

We are proud to say that our chat room members are from the following geographical areas in the world:

Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Israel, Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

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

CME Emini Futures ES, NQ and ER2

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives BUND, BOBL and Schatz

Euronext Futures FTSE-100 and CAC-40

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

Hang Seng Index Futures HSI

Last of all, if you have any questions about either #EminiFutures general market chat room, #FuturesTrades realtime trade posting room or the two realtime strategy discussion rooms used by traders with access to our fee-based strategies called #TheStrategyLab and #SwingTradingTSL...

Don't hesitate to ask your questions and we'll reply back as soon as possible.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

questions@thestrategylab.com

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