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

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August 30th 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

-4.80 +0.0000

($480.00) $0.00

Trading Perspective

I felt a little lost today in my trading and saw some unusual volatility in ER2.

Yet, my inability to understand the price action may be in part due to the fact I haven't had as much time as I normally have to be prepared to trade due to lots of home projects (personal stuff).

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 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: Wed Aug 30 09:31:45 2006Session Ident: #futurestrades

* Now talking in #futurestrades 09:31

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

<szubaark> gm

<NihabaAshi> Big red interval on the 3min chart for ER2. 09:37

buyers showed up and got rid of it quickly :) 09:39

<pat255> still looks bullish tho ..

<NihabaAshi> Shorts ER2 @ 716.50 -> small size

2 contracts only

Covered 1/2 ER2 Short @ 715.40 --> + 1.1 09:41

Covered Remainder ER2 Short @ 716.40 --> + 0.1 09:43

:(

<mispe> GM all 09:47

<NihabaAshi> Shorts ER2 @ 715.20 -> small size 09:51

2 contracts only...intuition trade.

Covered ER2 Short @ 716.10 --> - 0.9 09:56

Reverse and Enter Long ER2 @ 716.10

<mispe> Shorts YM @ 11378 09:57

<NihabaAshi> Exited all ER2 Long @ 715.50 --> - 0.6 09:58

<mispe> Covered 1/2 YM Short @ 11369 --> + 9

<NihabaAshi> Not really choppy...just a tight range. 09:59

<mispe> Covered Remainder YM Short @ 11371 --> + 7

<NihabaAshi> Will wait until 1015am est when the volatility increases due to the pending 1030am est EIA Petroleum Status Report.

<mispe> Long YM @ 11385 10:09

<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)

<mispe> Exited 1/2 YM Long @ 11390 --> + 5 10:10

Exited Remainder YM Long @ 11392 --> + 7

<eminitrader> Shorts ES @ 1307 10:18

<szubaark> Shorts NQ @ 1579 10:26

<NihabaAshi> Shorts ER2 @ 719.80 -> small size

3 contracts

intuition trade

<szubaark> exit stop set NQ @ 1582 10:27

<mispe> Shorts YM @ 11401 10:28

<eminitrader> Covered ES Short @ 1307 --> 0 10:29

Reverse and Enter Long ES @ 1307

<pdays> Long YM @ 11400 «« paper »» 10:31

<mispe> Covered all YM Short @ 11399 --> + 2

<NihabaAshi> Covered ER2 Short @ 720.80 --> - 1 10:32

Reverse and Enter Long ER2 @ 720.80

:(

Got shook out and not in a good price area. 10:33

<eminitrader> Long ES @ 1306 -> Add 10:34

<pdays> Long YM @ 11394 -> Add «« paper »» 10:35

<deepitm> Long ER2 @ 720.7 10:36

<szubaark> Covered all Short NQ at 1582 --> - 3

Buys NQ @ 1582

<pdays> Exited all YM Long @ 11402 --> + 10 «« paper »»

<Chilly> Long YM @ 11405

<NihabaAshi> Long ER2 @ 721.00 -> small size

3 contracts only 10:37

Volatility not normal today...very difficult to get a grasp on it. 10:39

It hasn't dried up once since the open and that's unusual. 10:40

<eminitrader> Exited 1/2 ES Long @ 1308.50 --> + 2.5 10:41

<szubaark> nice emini

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<eminitrader> thats 2 pts

thx szu

<Chilly> exit stop set YM @ 11406

<NihabaAshi> Very deceptive price action so far.

<eminitrader> avg 1306.50 long

thats a b/o on the ES ..prolly be a slow creep up 10:42

<szubaark> Russell strong today..mostly green candles 10:43

<NihabaAshi> Exited 2/3 ER2 Long @ 722.10 --> + 1.1

<Chilly> YM not busting through mid-month swing high ... a nail biter

<NihabaAshi> Exited Remainder ER2 Long @ 722.20 --> + 1.2

<eminitrader> Long ES @ 1308 -> Add 10:46

<szubaark> they keeping this tight 10:52

<deepitm> Exited all ER2 Long @ 721.8 --> + 1.1

<szubaark> Exited all Long NQ at 1582 --> 0

:(( 10:53

<Chilly> Trailing Stop Hit YM @ 11406 --> + 1

<szubaark> Shorts NQ @ 1582

<eminitrader> Long ES @ 1307 -> Add

<szubaark> not much conviction going up

<deepitm> Long ER2 @ 721.8 10:58

<sub> Shorts YM @ 11405 «« paper »» 11:00

<deepitm> Exited all ER2 Long @ 721.9 --> + 0.1 11:06

<szubaark> ES needs to make lower low or my Short is Toast 11:14

ER 722.40 Line of death 11:17

<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) 11:21

<szubaark> Covered all Short NQ at 1582.25 --> - 0.25 11:23

Buys NQ @ 1582.25 11:24

<eminitrader> a bit safer than the sell :)

<szubaark> yes.. i see its making double bottoms in this pullback

<mispe> Long YM @ 11405 11:25

<eminitrader> only hope they dont shake us out during lunch

<szubaark> this is dead 11:31

Exited all Long NQ at 1582.25 --> 0 11:33

* szubaark is now known as szubaark_away

<mispe> Exited all YM Long @ 11400 --> - 5 11:34

<Chilly> Shorts ER2 @ 722.20 11:37

<NihabaAshi> Shorts ER2 @ 720.10 -> small size 11:50

2 contracts only

I missed an excellent short signal at 721.50 due to some distractions. 11:52

<yo> what did you see niha? 11:53

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<NihabaAshi> Just follow-through from the 722.00 price area. 11:57

However, my entry was into an expansion bar and those types of entries are tough to trade (low probability).

<Chilly> exit stop set ER2 @ 722.10

<NihabaAshi> Especially with the way volatility has been all day and the approaching lunch hour. 11:58

<yo> thnx niha 11:59

<NihabaAshi> Exited ER2 Long @ 720.90 --> + 0.8 12:03

Reverse and Enter Short ER2 @ 720.90

Ooops...will correct...I am Long

-0.80 on the Short and I'm Long @ 720.90

Long ER2 @ 720.90 -> small size 12:04

<yo> niha a expansion bar is that a outside bar? 12:12

<NihabaAshi> Yo...Look at the current 5min interval for ER2...that's an expansion bar. 12:18

<yo> ok thnx

<NihabaAshi> It has a body (difference between Open and Close) greater than the prior interval bodies.

The scary ones are the ones that have increasing volatility especially if the trade is going against you. 12:19

They can easily spook you out of a trade or or make you regret not exiting or reversing the trade earlier. 12:21

They represent the psychology of the market - Fear and Greed

<yo> thnx niha 12:23

<NihabaAshi> Exited ER2 Long @ 719.70 --> - 1.2 12:28

Reverse and Enter Short ER2 @ 719.70

Be right back later... 12:30

* NihabaAshi is now known as NihabaAshi_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) 12:33

<Chilly> Covered all ER2 Short @ 722.10 --> + 0.1 13:19

dang, stepped away a little too long ... sigh :( 13:21

<deepitm> Long ER2 @ 723.5 13:36

<szubaark_away> Shorts NQ @ 1583.75 13:40

<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) 13:45

<szubaark_away> exit stop moved to breakeven NQ @ 1583.75 14:01

* szubaark_away is now known as szubaark 14:02

<szubaark> Covered all Short NQ at 1581.50 --> + 2.25 14:09

got better things to do then watch this slow crap 14:10

* szubaark is now known as szubaark_away

<Chilly> Shorts ER2 @ 721.60

nice szu

exit stop set ER2 @ 722.50 14:15

Trailing Stop Hit ER2 @ 722.50 --> - 0.9 14:21

Long YM @ 11400 14:28

exit stop set YM @ 11390 14:29

Trailing Stop Hit YM @ 11390 --> - 10 14:32

chopped up, serves me right for not taking profits earlier 14:33

<GoodMood> Chilly: Do you like yourself ? 14:38

<Chilly> ha, not when I make mistakes 14:40

<GoodMood> But your mistakes teach you more than your successes ...

and besides: It's only money

and you should not value yourself according to your monetary success 14:41

<Chilly> right, but trying to make less mistakes ... clearly not learning from them :)

Shorts ER2 @ 720.40 14:45

<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) 14:54

* NihabaAshi_away is now known as NihabaAshi 15:22

<NihabaAshi> Just got back from appointment...late post...trailing stop hit. 15:23

Covered ER2 Short @ 721.00 --> - 1.3 15:24

I've missed too much of the trading day and will be looking for an overnight position. 15:26

<pat255> niha L side? 15:28

<Chilly> Covered all ER2 Short @ 721.40 --> - 1 15:32

that was from earlier

3 bad trades today out of 5, sitting on my hands 15:33

<NihabaAshi> pat255...if it makes a new intraday high...

Yes...I'll be looking for a Long side trade. 15:34

If it doesn't make a new intraday high...

I'll be looking for a Short side with a 1 - 1.5 trailing stop.

Nicola see pm. 15:35

<pat255> k niha just saw your comemnt 15:36

man alive mkt did not give in ... 15:38

<NihabaAshi> pat255...it gave up a little...just had to be around to trade it... 15:40

I wasn't.

<pat255> yes but overall...i thot am will be high & down but it came back up.. 15:41

<NihabaAshi> As I mentioned earlier today...the volatility is very strange today. 15:42

If it can make a new intraday high with the same weird volatility... 15:43

<pat255> yes..p/b now

<NihabaAshi> I'll be bullish in the overnight trading action up until around 0815am est tomorrow.

<pat255> k..

yes this action last few days L is the way to go.. 15:48

<NihabaAshi> pat255...if this declines below 720.00 15:59

I won't do any overnight holds.

<pat255> k niha ,,,it may hold abobve it tho.. 16:00

<NihabaAshi> Instead will trade the price action between 0745am - 0830am est.

<pat255> k...may join u early ...thks

u looking at eur?

<NihabaAshi> Yes...it will be one of my options especially if ER2 trade doesn't go well. 16:04

<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) 16:06

<pat255> c u all later ty all

<NihabaAshi> Volatility still surprisingly shallow :( 16:09

cancelled all open stop orders 16:10

Something is up and I want to make sure I'm around to take some trades early tomorrow with some large positions. 16:11

Take care all and see all "early" tomorrow morning. 16:22

* DisconnectedSession Close: Wed Aug 30 16:22:33 2006

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

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CBOT mini-sized Dow Futures YM

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CME Futures EuroFX EC

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Forex Currencies EurUsd, EurYen and UsdCdn

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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...

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

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TheStrategyLab.com

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