#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 24th Thursday 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

+9.60 +0.0000

$960.00 $0.00

Beware of the Lower Highs

Traps for bulls that hold overnight (swing traders and position traders) can occur when markets sell off soon after the open but rally in the afternoon trading session without bypassing the highs of the prior trading day.

Simply, if your a swing trader or position trader you need to keep an eye on the big picture so that you can see more of the playing field.

Another way to look at this type of price action is that if your swing trading or position trading via low time frames (not recommended) without looking at the higher time frames...

These late afternoon rallies can be very deceptive when they produce a lower high in comparison to the high of the prior trading day.

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: Thu Aug 24 08:27:43 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> may close the gap.. 09:34

<NihabaAshi> Shorts EuroFX @ 702.50 -> small size 09:35

Ooops...

That's ER2

Shorts ER2 @ 702.50 -> small size

I got the price direction correct...so far ER2 not responding. 09:37

<szubaark> Shorts NQ @ 1560.25 09:38

<deepitm> Sometimes bad news is good news and sometimes bad news is just plain bad news (yesterdays housing number). So will today's housing number be just a lttle bad (which would be good) or will it be plain bad. 09:39

<NihabaAshi> Covered 1/3 ER2 Short @ 701.80 --> + 0.7

<pat255> good start niha..

<NihabaAshi> Lot my patience on the first contract :( 09:40

<deepitm> I've never been able to get a handle on the proper "degree of badness"

<NihabaAshi> I was looking for a 701.30 or WRB for the first contract.

Will try and hold the 2nd contract a little longer to make up for the early exit on the 1st contract. 09:41

<szubaark> exit stop set NQ @ 1560.25 09:42

Covered all Short NQ at 1560.25 --> 0

:((

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<NihabaAshi> I have my stop in and will be back later...I have some distractions here :( 09:43

exit stop lowered ER2 @ 702.30

<pat255> k...

* NihabaAshi is now known as NihabaAshi_away 09:44

<szubaark> Shorts NQ @ 1559.50 09:50

<deepitm> Shorts YM @ 11327 09:51

<eminitrader> Long ES @ 1298 09:52

<NihabaAshi_away> Trailing Stop Hit ER2 @ 702.30 --> + 0.2 09:53

<szubaark> Covered all Short NQ at 1562.25 --> - 2.75 09:54

Buys NQ @ 1562.25

<eminitrader> Exited 1/3 ES Long @ 1299 --> + 1 09:56

* NihabaAshi_away is now known as NihabaAshi 09:57

<szubaark> so far chop 09:58

<eminitrader> Exited ES Long @ 1298 --> 0 10:00

Reverse and Enter Short ES @ 1298

<szubaark> Exited all Long NQ at 1557.50 --> - 4.75

Shorts NQ @ 1557.50 10:01

<eminitrader> Covered ES Short @ 1298.50 --> - 0.5 10:07

Reverse and Enter Long ES @ 1298.50

<szubaark> Covered all Short NQ at 1560 --> - 2.5 10:09

tough price action..

<NihabaAshi> Long ER2 @ 702.00 -> small size 10:11

<Chilly> Long YM @ 11336

<eminitrader> Exited 1/3 ES Long @ 1299.50 --> + 1 10:12

<deepitm> Covered all YM Short @ 11339 --> - 12

<Chilly> exit stop set YM @ 11329

<szubaark> Shorts NQ @ 1561 10:13

<NihabaAshi> Missed my entry @ 701.60 10:14

Feeling some pressure right now because of the late entry. 10:15

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

Reverse and Enter Short ES @ 1299

<szubaark> Covered all Short NQ at 1562.25 --> - 1.25 10:16

:((

Buys NQ @ 1562

cant get anything going in this chop

<Chilly> Exited all YM Long @ 11337 --> + 1

you said it szu

<szubaark> just when u think they gonna breakout, they whack it back down 10:17

<NihabaAshi> ER2 volatility has died...expecting a volatility spike soon.

Hopefully in the direction of my Long position. 10:18

If not...will gladly reverse my trade.

Exited ER2 Long @ 701.30 --> - 0.7 10:22

Reverse and Enter Short ER2 @ 701.30

<szubaark> Exited all Long NQ at 1559.75 --> - 2.25 10:23

prolly my last trade..getting too many stops hit in this turd 10:24

<pat255> szu chop chop ..

just sitting it out ..

<NihabaAshi> Oh oh...volatility dying again. 10:27

<eminitrader> Covered all ES Short @ 1299 --> 0

<pat255> upvol>dnvol tho 10:28

<eminitrader> so ami pat for now ..just 1 pionters so far ..not worth itrading

<NihabaAshi> Covered 1/3 ER2 Short @ 699.30 --> + 2 10:29

<pat255> vn niha ...

hope er can drag the other indices down with it 10:32

<eminitrader> Long ES @ 1297.50

<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> well the trend is down now ..any p/b are going to be Shorted imho 10:36

<NihabaAshi> Gotta have a "contingency plan" prior to entering a trade just in case things don't work out as planned. 10:38

EuroFX picking up volatility again.

<pat255> yes ..have a hard time reversing ..:(

<szubaark> well if there is no followthru it doesnt matter 10:39

<eminitrader> Long ES @ 1296.50 -> Add

<NihabaAshi> Covered 1/3 ER2 Short @ 697.00 --> + 4.3

<pat255> vn niha wtg... 10:40

<szubaark> I have yersturday's low target on this due to all the Stop-outs i had

<eminitrader> very nice niha

<szubaark> good one Niha.. u got nice entries in this chop

i just got to say this has been a Tough hour of trading for me. 10:42

Europe this morning was in a strong uptrend, so what do we go? US goes down. LOL 10:43

<pdays> Long ER2 @ 697.0 «« paper »» 10:53

Exited all ER2 Long @ 698.0 --> + 1 «« paper »» 10:54

<eminitrader> Exited 1/2 ES Long @ 1297.75 --> + 1.25 10:57

<szubaark> holding this for low test... gotta cut the losses 11:02

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<eminitrader> u short szu 11:09

<szubaark> yes.. from 1559.75

<eminitrader> nice entry 11:10

<asd> Short ES @ 1298 risk 2

<eminitrader> 1560 showing res

<szubaark> i overtraded this chop.. too aggressive. prolly because im having a good week so getting careless :(( 11:11

<eminitrader> yep ..got to be carefull in proctecting the green

1297.50 area critical for ES 11:12

may pull NQ along with it if it breks

<szubaark> looking back i bought 1562 Resistance just before Report.. took a 5 point loss on that :( 11:15

Yet ES made higher High 11:16

but ES is known for poking Stops

NQ will show nice double bottom, yet ES will go 2-3 ticks lower, whacking Stops 11:17

<eminitrader> true

and sometimes its the other way around 11:18

<szubaark> trend working its magic 11:19

<asd> Cover ES @ 1296.75 11:20

<pat255> vn asd 11:22

<eminitrader> Long ES @ 1296.50 11:34

<NihabaAshi> exit stop lowered ER2 @ 701.00 11:42

Be back later...

Need to go to the bank because I have a repair guy here that only accepts cash... 11:43

<szubaark> Exited all Long NQ at 1554 --> - 8

wrong.. +8

<NihabaAshi> Would have been nice had he told me that yesterday when I talked to him on the phone :(

* NihabaAshi is now known as NihabaAshi_away

<szubaark> that puts me slightly down for day.. be back around pm 11:44

* szubaark is now known as szubaark_away

<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> later guys ..ty all back to office ..may log in ... 11:51

<eminitrader> Long ES @ 1295 -> Add 12:07

<WannaBeBOS> hey guys 12:48

* WannaBeBOS is now known as BOS-bbl 12:50

<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) 12:56

* NihabaAshi_away is now known as NihabaAshi 13:10

<NihabaAshi> Covered Remainder ER2 Short @ 697.00 --> + 4.3 13:21

<eminitrader> Exited all ES Long @ 1296.50 --> + 1.5 13:22

<asuni> verylong but nice trade eminii 13:33

<szubaark_away> Shorts NQ @ 1552.75 13:41

<eminitrader> thx asuni

<szubaark_away> shorting this retracement here

exit stop set NQ @ 1555 13:42

<eminitrader> that was a 0.75 pt gain

<Chilly> Long ER2 @ 697.90 13:53

exit stop set ER2 @ 696.40 13:54

exit stop raised ER2 @ 698 13:56

<szubaark_away> nasty price action today 13:59

* szubaark_away is now known as szubaark 14:00

<eminitrader> this was supposed to be fridays ...mrkt confused or what

<szubaark> seems like we need 1-2 shitty days per week otherwise everyone would be doing this. This levels out the playing field 14:01

<eminitrader> :) 14:02

<szubaark> Covered all Short NQ at 1555 --> - 2.25 14:03

Buys NQ @ 1555

Exited all Long NQ at 1555 --> 0 14:08

Shorts NQ @ 1555

<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)

<eminitrader> NQ prlly test 1557-1558 14:09

Shorts ES @ 1297.25 14:10

<szubaark> Covered all Short NQ at 1557 --> - 2 14:11

:((

<eminitrader> Covered ES Short @ 1297.75 --> - 0.5 14:12

Reverse and Enter Long ES @ 1297.75

<szubaark> have no clue what they doing

Buys NQ @ 1558.50

chasing and emotional

but this market is nuts today so u never know 14:13

<Chilly> exit stop raised ER2 @ 700.50

<eminitrader> nice trade chilly 14:14

<asuni> vn chilly

<Chilly> Trailing Stop Hit ER2 @ 700.50 --> + 2.6 14:15

thanks fellas

<eminitrader> Exited ES Long @ 1298.25 --> + 0.5

Reverse and Enter Short ES @ 1298.25

Covered all ES Short @ 1298.75 --> - 0.5 14:16

Shorts ES @ 1298.75 14:17

<szubaark> nice chilly

<eminitrader> last one of the day

way too much commish..

<Chilly> thanks szu ... I admire your comeback from this morning ! 14:18

<szubaark> im still down overall... too confused about this chart.. we go down and now we go up?!! 14:19

<eminitrader> flow on ES and NQ now to the long szu.. 14:20

ideal entry ES 1295-1296 NQ 1553-54

<szubaark> damn i missed it.. 1552 re-test was the pop which was globex low, IN HINDSIGHT 14:21

<eminitrader> yep and es by 2 ticks 14:22

<szubaark> looking for test of high 14:24

<eminitrader> prolly pullback now 14:25

<szubaark> of course, that would be too easy :)

<eminitrader> :)

<szubaark> actually thats a head a shoulder pattern we got now 14:27

<eminitrader> to the up or downside ..

sorry dont follow that pattern

<szubaark> right/left shoulder at 1552 to the upside

<eminitrader> on 3 min 14:28

<szubaark> 5 and 15 min

3min too fast

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<eminitrader> k thx

ES in coma 14:34

<Chilly> someone get the paddles, the market's flatlining ... and another whole week until Labor Day .. gak 14:36

tomorrow 10am est Bernanke speaks from Jackson Hole, fwiw ... not expected to offer anything market moving according to briefing.com 14:41

<szubaark> Exited all Long NQ at 1557.25 --> - 1.25

<eminitrader> Covered 1/2 ES Short @ 1297.25 --> + 1.5

<szubaark> throwing in the towel for the day. I definetly got outboxed today.

<Chilly> nice movement at last emini :) 14:43

* szubaark is now known as szubaark_Done

<eminitrader> was expecting a pullback chilly

low risk stop was 99.25 = 2 ticks 14:44

now @ b/e

<Chilly> another nice entry for you emini at a swing hi 14:46

<szubaark_Done> chilly in this tough market, entries are everything also

<eminitrader> should have held my entry @ 98.25

unnecessary commish ...getting in and out 14:47

<Chilly> indeed szu 14:48

youz guys have a good sense for entry and exit 14:49

<szubaark_Done> today is what i call Equalizer day, markets way of making sure u dont make too much money

<eminitrader> prolly test 97-96 before giving it a go again

<szubaark_Done> im just mad i got little too emotional after getting stop-outs 14:50

new day,new lesson 14:51

<eminitrader> happened to me yest. when i got in a trade way too early ..took the loss and stopped for the day szu 14:53

Covered Remainder ES Short @ 1298.25 --> + 0.5

atually i just walked away from my computer ..spent all afternoon with the kids 14:54

<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) 15:17

<Chilly> playing hooky tomorrow ... see you folks Monday 15:47

<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) 16:29

<NihabaAshi> Take care all and hopefully the market can put in a strong trend either tomorrow or Friday. 16:30

Ooops...tomorrow is Friday :)

<asuni> your subconscious would like a week with 6 trading days :-) 16:32

<NihabaAshi> Long day for me...I had the Venmar repair guy install a new ventilation system in the house today, rug guy came today to take some measurements and the oven guy came buy to fix a oven that was still under warranty along with the fact one of them only took cash...forcing me to make a trip to the bank :(

Tomorrow I should be more focus on trading and not on watching the repair guys :) 16:33

<codehead> sheesh, busy day

<asuni> i'm asking to myself what would u do to the market if u focused on trading :-)

* NihabaAshi is now known as NihabaAshi_away 16:58

* DisconnectedSession Close: Thu Aug 24 16:59:06 2006 16:59

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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

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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...

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Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

questions@thestrategylab.com

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