August 25th Friday 2006 Trade Log
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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 +11.00 +0.0000 $1,100.00 $0.00 FED Speeches - Volatility and Overtrading
Today the market volatility picked up very quickly after the open in anticipation for the 10am est FED Chairman Bernanke speech.
If your a volatility trader...your going to need more than just an economic calendar to know when these speeches are going to occur.
http://www.federalreserve.gov/calendar.htm
Further, these are trading days when we tend to get more emotional and possibly more aggressive as we attempt to capture one of these volatility price moves.
Thus, there's a high risk of overtrading on trading days like today especially when chop occurs.
Simply, if you don't have a specific mechanism in place to tell you when to stop trading after losses or overtrading...you risk having a trading day that's very difficult to emotionally overcome.
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.comNote: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and such is represented by a particular type of price action from one of the key markets. You can view the charts and their clues that's associated with the key price action at our key market archives.
Session Start: Fri Aug 25 09:29:02 2006Session Ident: #futurestrades * Now talking in #futurestrades 09:29 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <pat255> gm all 09:30 <NihabaAshi> Fed Speech Alert: Fed Chairman Ben Bernanke is speaking today around 10am est. 09:31 <pat255> ty niha <les> wow, talk about fickle mkt :) 09:33 <eminitrader> Long ES @ 1295 09:34 <NihabaAshi> Shorts ER2 @ 697.30 -> small size 09:35 Got a late entry :( Got caught doing too much analysis. 09:36 ...instead of reacting. <szubaark> paralysis from analysis :) <NihabaAshi> Covered ER2 Short @ 698.40 --> - 1.1 09:38 Reverse and Enter Long ER2 @ 698.40 Exited all ER2 Long @ 698.30 --> - 0.1 09:39 <eminitrader> Exited all ES Long @ 1295 --> 0 09:40 <szubaark> Shorts NQ @ 1554 <eminitrader> will wait for bernie to talk <les> anyone know how long he's speaking for? <pat255> when they are on TV theytend to linger a bit ..lol 09:41 <szubaark> lol <les> I guess bernie's gotta think about his image... 09:42 <szubaark> Covered all Short NQ at 1556 --> - 2 <les> in case they make "Wall Street" again and Michael Douglas isnt available <eminitrader> :) Sponsor: As traders we must treat our trading like a business if we are to succeed as traders and as a business. Therefore, waiting till the last few weeks March to prepare for April's taxes is not good for your trading and could put extra stress on your trading during tax month or the months that follow if your one of those traders that filed an extension.. Therefore, its best to be on top of your taxes throughout the year and Traders Accounting is a great resource for such especially if you want to prevent penalties or an audit several years from now.
<NihabaAshi> Long ER2 @ 699.30 -> small size 09:43 Geesh :( Exited 1/2 ER2 Long @ 700.70 --> + 1.4 09:45 Be careful...this is clearly a Fed Speech price action so far. <pat255> yes .. <NihabaAshi> Exited Remainder ER2 Long @ 701.30 --> + 2 09:46 <eminitrader> nice comeback.. <asuni> great niha 09:47 <NihabaAshi> That error on the first trade (chasing something that really wasn't there) could have been worst. <szubaark> Shorts NQ @ 1557.50 09:55 Covered all Short NQ at 1559.50 --> - 2 Shorts NQ @ 1560.25 09:56 <eminitrader> had an excellent long entry.. ..got shook out :(( <szubaark> Covered all Short NQ at 1561.25 --> - 1 Buys NQ @ 1561.25 <pat255> bernake rally.. <szubaark> lets go Long Bernake pump & dump 09:57 <NihabaAshi> Shorts ER2 @ 703.70 -> small size 09:59 risky intuition trade <pdays> Shorts YM @ 11316 «« paper »» 10:00 <NihabaAshi> 1 contract only If I get lucky and it develops into a pattern...I will add a contract. Covered all ER2 Short @ 703.60 --> + 0.1 10:02 <eminitrader> Shorts ES @ 1298.50 <NihabaAshi> :( That's Bernanke...easily takes away your profits :( <eminitrader> Covered all ES Short @ 1299.50 --> - 1 that was fast <szubaark> thank you Mr. Bernake for 3 Stop-outs in a row :(( 10:03 <eminitrader> lol <szubaark> Exited all Long NQ at 1567.50 --> + 6.25 <eminitrader> nice one szu 10:04 <szubaark> thanks.. jumpy market again today, got to be careful. 10:05 <NihabaAshi> Long ER2 @ 704.70 -> small size 1 contract only Wow...look at EuroFX 10:07 Time to dump my trade Exited ER2 Long @ 705.40 --> + 0.7 <asd> Short ES @ 1301 risk 2 10:08 <szubaark> this is too fast for me. waiting for it to slow down <NihabaAshi> szu...the speed of the market right now is the reason why I dropped to 1 contract only trading. 10:09 <les> Shorts ER2 @ 704.5 «« paper »» 10:11 <NihabaAshi> Shorts ER2 @ 704.30 -> small size <pdays> Covered all YM Short @ 11313 --> + 3 «« paper »» 10:13 <NihabaAshi> Oh oh...ER2 volatility just died. 10:14 <eminitrader> Shorts ES @ 1300.75 <NihabaAshi> Covered ER2 Short @ 704.90 --> - 0.6 10:15 Reverse and Enter Long ER2 @ 704.90 Long ER2 @ 704.70 -> Add 10:16 Trend is up...why fight it. <pat255> thinking the same ... 10:17 <les> Covered 1/3 ER2 Short @ 704 --> + 0.5 «« paper »» <NihabaAshi> It's trying to shake me out :( <les> exit stop lowered ER2 @ 705.4 «« paper »» <szubaark> right, trend is up u still need good entry,something nobody talks about LOL <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of 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, XLE) and Hang Seng Index Futures (HSI) 10:18 <eminitrader> Covered all ES Short @ 1300.75 --> 0 <NihabaAshi> Long ER2 @ 704.10 -> small size <eminitrader> looks like i got shook out ...second time today :(( 10:19 <les> Covered 1/3 ER2 Short @ 703.7 --> + 0.8 «« paper »» 10:20 exit stop lowered ER2 @ 704.4 «« paper »» <szubaark> Buys NQ @ 1572 <NihabaAshi> Exited all ER2 Long @ 703.10 --> - 2.6 10:22 Shorts ER2 @ 702.90 -> large size <les> exit stop lowered ER2 @ 703.8 «« paper »» 10:23 <NihabaAshi> 6 contracts <szubaark> Exited all Long NQ at 1568.50 --> - 3.5 10:25 :(( <les> exit stop lowered ER2 @ 703.3 «« paper »» 10:26 <asd> Cover ES @ 1299.25 <eminitrader> nice asd .. <NihabaAshi> Prior losing trade (Long position) was a -1.8, -1.6 and -1.00 and not a total of -2.6 10:27 <les> Covered Remainder ER2 Short @ 703.2 --> + 1.3 «« paper »» Trading Edge: 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) <NihabaAshi> Volatility just died again :( 10:30 Lost my WRB :( 10:32 Hopefully I get a second chance at it. 10:33 <les> niha .. how exactly does one lose a WRB ??? :) 10:34 <NihabaAshi> Covered 1/3 ER2 Short @ 701.90 --> + 1 <les> i mean - i didnt know one could lose candlesticks <NihabaAshi> Les...when it appeared...I wasn't able to take the profit because it formed so fast and then retraced to where it was no longer a WRB :( <les> i understand - jk 10:35 <NihabaAshi> Yet, I did make good on my second chance at it when it formed again. Covered 1/3 ER2 Short @ 701.20 --> + 1.7 10:36 That wasn't a WRB exit...just taking some profit to ensure I'm profitable for the day due to the prior losing trade. 10:37 Increasing my chart interval for a WRB just in case I caught a trend on the way down. <pat255> niha u are looking at a 5 min chart ? 10:38 <NihabaAshi> 5min chart now and I have a s/r zone to fill @ 699.00 That's my target for my remainders. <pat255> kty <NihabaAshi> exit stop set ER2 @ 702.70 10:39 <szubaark> Buys NQ @ 1566 10:40 <NihabaAshi> I got too wishful thinking that Bernanke would cause a trend day...it cost me two big losing trades. 10:41 <les> is he still speaking? 10:42 <pat255> yeah felt the same but looks like ...no go stay with S.. 10:43 <NihabaAshi> If Oil can sell-off a little...I will be able to reach my profit target. 10:45 <eminitrader> Long ES @ 1298.25 10:46 <NihabaAshi> I would like to see the Oil ETFs (OIH and XLE) lose at least a point from current levels. Meant 1 point for OIH and .50 cents for XLE 10:48 <pat255> looks like tey are heading inthat direction 10:49 <eminitrader> looks like new highs on the ES 10:51 <szubaark> Exited all Long NQ at 1564 --> - 2 10:56 Shorts NQ @ 1564 10:57 <eminitrader> supp there szu 62-60 10:58 <NihabaAshi> Oil ETFs and Oil Indexes...still fighting hard to keep their gains :( <szubaark> emini im shorting the break of consolidation <eminitrader> ok 10:59 <NihabaAshi> EuroFX fighting hard to counter-thrust back upwards and retrace that big Dark candlestick that formed due to FED Bernanke speech at 10am est. <eminitrader> Long ES @ 1297.25 -> Add 11:01 <szubaark> Niha u had any trades in Euro today? <eminitrader> be back stop 1296.25 <NihabaAshi> szu...no EuroFX trades today for me...just using it to gauge the actual market reaction to FED Bernanke speech. 11:02 EuroFX is a good indicator to let me know the psychology of the market when the FED Chairman speaks. 11:03 <asuni> what u mean? <NihabaAshi> It over-reacts most of the time. 11:04 That reaction is the psychology the institutions are feeling when the FED talks and because of such...the institution trades try to exploit that over-reaction... When they are through...they go back to the eminis. 11:05 <szubaark> Niha institutions actually daytrade the eminis? <pat255> wow mkt gave all that back... 11:06 <NihabaAshi> Covered Remainder ER2 Short @ 698.50 --> + 4.4 <asuni> great niha <szubaark> Go Niha! Covered all Short NQ at 1562 --> + 2 11:07 Buys NQ @ 1563 <pat255> vn guys ... <szubaark> damn missed it by 1 point, hope they wont shake me out 11:08 Sponsor:
<NihabaAshi> By the way, ER2 is starting the catch the attention of the institutions. 11:11 I expect by this time next year...it won't be as volatile. <les> hey, so maybe we all travel back to es? 11:12 <NihabaAshi> Yep Or the S&P 400 Mid-Cap Emini. <les> oh? why that? <szubaark> u want Volatility try Hang-Seng LOL <les> hehe i'm fast asleep that time tho 11:13 <NihabaAshi> szu...I think the Hang Seng scares away most of the big boys :) <szubaark> Exited all Long NQ at 1565 --> + 2 11:14 <NihabaAshi> You really need to understand the Asian calendar, holidays, why they take trading breaks during the trading day et cetera to exploit the Hang Seng consistently. <les> niha.. why S&P 400 Mid-Cap Emini? <NihabaAshi> It's volatility is increasing. Getting more attention from the retail traders. <les> right 11:15 whats the tick and point values there? <szubaark> 1pt=$5 11:16 <NihabaAshi> I'm not sure but I know its cheap like YM... thanks szu <szubaark> I figure if i dont master NQ i have no reason to look at any other instruments. 11:17 <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of 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, XLE) and Hang Seng Index Futures (HSI) 11:30 <szubaark> Shorts NQ @ 1561 11:32 <pat255> dang indices gonna end up red <szubaark> 09:58] > Bernanke pump & dump 11:33 <pat255> yes <szubaark> thats funny. pat watching this crap long enough i start recongizing these games <pat255> yes szu ..all that pump & move in the am 11:34 <szubaark> they like to get at the top and bottom so they pump 11:35 <pat255> yeah bastaids ..:( <szubaark> anybody here using Tradestation? 11:38 <asuni> y szu <les> no - but i did find that the S&P400midcap carries a tick value of .10 11:39 :) so now we all know <szubaark> u know how u click on Data Compression Icon and it shows u 1min/5/15/30 how can i change it to include 2 min without going to Format and typing it in? 11:40 how do i Program the Data Compression Icon to show 2min? <asuni> don't know 11:41 try in the forum <szubaark> Covered all Short NQ at 1464.25 --> + 96.75 12:30 Covered all Short NQ at 1565.25 --> - 4.25 Buys NQ @ 1464.50 Buys NQ @ 1564.50 12:31 probobly not worth trading this friday chop 12:32 but got to go ++ for day at least try <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of 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, XLE, IWM, QQQQ, SPY) and Hang Seng Index Futures (HSI) 12:42 <asuni> need to go, cu all on next thursday 12:47 <szubaark> looks like i bought the TOP LOL 12:50 exit stop set NQ @ 1561.25 12:51 Exited all Long NQ at 1561.75 --> - 2.75 12:54 Shorts NQ @ 1561.75 last trade..ive had enough 12:55 geez 4 hours of 1pt Chop 13:30 probobly major move coming Covered all Short NQ at 1564 --> - 2.25 13:49 Buys NQ @ 1564 13:50 <yo> not the last trade i see :) <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of 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) 13:51 <szubaark> hate having losing days especially on a friday, what a way to start weekend :(( <yo> yes i now 13:52 <szubaark> Exited all Long NQ at 1564 --> 0 14:09 im done.. this PA is crap. * szubaark is now known as szubaark_away <codehead> chop <szubaark_away> chop days ALWAYS give me losses..sometimes too big as i get emotional and start Overtrading. I KNOW im doing it but ITS HARD to improve. 14:14 <pat255> szu back....one thing i learned ..to trade less...so i wait & sometimes I dont take trade & my bottom line has improved .. 14:19 <GoodMood> szu: always ask yourself if your desire to TRADE is bigger than your desire to WIN 14:34 just my 2 cents 14:35 <NihabaAshi> szu...when you return...goodmood posted a good question that we must ask ourselves the very first time we have that thought...Am I overtrading? 14:51 Meant...I'm following up on goodmood comments that saids..."always ask yourself if your desire to TRADE is bigger than your desire to WIN" That comment ties into the overtrading concern. <pat255> agree niha ... 14:52 <NihabaAshi> Therefore, we must have a circuit breaker that specifically tells us we are overtrading or have reach a loss threshold that tells us to accept what has happen and call it quits for the day. <pat255> yep but often the urge to recover takes over & puts u furhter in the hle 14:53 <codehead> YM broke cbot down again? <NihabaAshi> Everybody has a different pain threshold and our pain must be either in big black letters above our monitors to easily be seen... 14:54 Or we must use a trade execution program that tells us we've reached a particular number that tells us its time to stop trading. Like an alert that pops up an extra window to tells us that number has been reached. 14:55 Someone once said it can be programmed into TradeStation but I can't verify that. Yes...CBOT has been down or certain data vendors have been disconnected since 2:48pm est. 14:56 <GoodMood> Stay in touch with yourself - talk to you - avoid to get carried away like a drug addict humans are cracy for feelings so be aware of this and monitor yourself like in a mirror 14:57 and never forget: this is only a PART of your character, it's not evrything you are made of just my 3 (Euro-)cents 14:58 <NihabaAshi> :) <pat255> k guys u all have a goodweekend ..c u later ...ty all 14:59 <GoodMood> bye pat <pat255> leter GM niha szu 15:00 <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of 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, XLE) and Hang Seng Index Futures (HSI) 15:03 <yo> goog night all, see you on monday 15:12 good 15:13 <NihabaAshi> Take care all and have a nice weekend. 15:39 <GoodMood> u 2 * NihabaAshi is now known as NihabaAshi_away 15:40 Sponsor: Trading Edge: 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) Sponsor:
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