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#FuturesTrades September 8th Friday 2006 Trade Log

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In addition, trades being posted by members of #FuturesTrades in the below trade post chat log are by traders that do not have access to TheStrategyLab.com strategies except for NihabaAshi.

Fee-based clients of TheStrategyLab.com strategies use the private IRC rooms called #TheStrategyLab and #SwingTradingTSL.

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

-13.30 +0.0000

($1,330.00) $0.00

Trading Perspective

Only brokers make good money on choppy tight trading range days and today was one of those days that makes the brokerage firms very happy.

Although I'm expecting September to be a very tough trading month (it usually is for me in turns of more frustration than the norm) as it leads into the market seasonal patterns (more reliable markets) between October - January...the following goals need to be achieved to make this month as normal as possible:

* Keep losses small as in < $500 on any losing day

* Friday trading results in profits

* Trading week results in profits

Today, I failed two of the above trading goals for the month of September and will try hard not to let it happen again for the remainder of the month.

Also, I prefer my losing trading days to occur early in the week instead of towards that end of the trading week even though this week overall was profitable.

Helps (not losing towards the end of the week) with being psychologically ready to trade on Mon - Weds of the following week.

As a reminder, I've designated the month of September to not be using my trading plan (Swing Trading Report and Trading Manual) so that I can concentrate more on my intuition trading.

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 September...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.

* Now talking in #futurestrades 09:27

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

<silo> hi guys 09:28

what do you guys think of NSM

earnigns out on this oen

<PapaJon> gm all 09:29

<NihabaAshi> gm all

<silo> bought some NSM at 24.09 09:32

<eminitrader> u wont gwt muuch feedback on stocks in this forum silo

<silo> hehe i know i know :) 09:33

<eminitrader> just a heads up :)

<NihabaAshi> silo...this is a futures room...not a stock trading room 09:34

<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)

<silo> i know... it's my first trade so i am too excited to hold it in

hehe

<NihabaAshi> Ok...but just don't post stock trades in here nor ask for opinions about stock trades. 09:35

<silo> okay

<NihabaAshi> There's a room called #pitstock on IRC that's all about stock trading, advice and trade posts.

Its a free room and you may want to go there. 09:36

In fact, you can use both #FuturesTrades and #pitstock at the same time...

Using #FuturesTrades to give yourself some views about the overall market and then use #pitstock to discuss specific stocks. 09:37

<silo> cool

<NihabaAshi> Shorts ER2 @ 712.60 -> small size 09:38

2 contracts only...intuition trade

ER2 rarely makes V shape bottoms involving a WRB...reason why I haven't dumped my short just yet (looking for it to reverse a little from current price). 09:42

<eminitrader> Shorts ES @ 1309 09:44

<szubaark_MaxLoss> Shorts NQ @ 1587 09:45

<NihabaAshi> Covered ER2 Short @ 714.00 --> - 1.4 09:46

Reverse and Enter Long ER2 @ 714.00

<szubaark_MaxLoss> ES,YM not moving 09:48

<eminitrader> Covered 1/3 ES Short @ 1308 --> + 1 09:49

<szubaark_MaxLoss> weird.. NQ,ER were pulling up while YM,ES Holding steady.

<NihabaAshi> Exited all ER2 Long @ 713.30 --> - 0.7

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Got suckered into that WRB :(

<eminitrader> NQ wanted to test globex high @ 90.75

<szubaark_MaxLoss> im seeing a lot of wacko Price Action Sept.

CHOP 09:53

<eminitrader> give it time szu :) 09:54

<silo> hey szu,

<jperl> TotalMarket oscillating about its average price (blue line).... 09:55

<NihabaAshi> Shorts ER2 @ 712.20 -> small size

<jperl> http://charts.dacharts.com/2006-09-08/JP ERL_018.png

<NihabaAshi> 2 contracts

same intuition trade

<eminitrader> Covered Remainder ES Short @ 1309 --> 0 09:56

<NihabaAshi> Those are two killer WRB ranges I'm trading in between...so far...not a good plan. 09:57

<eminitrader> Long ES @ 1308.50

<NihabaAshi> It's another WRB...the way this thing has been reversing quickly around them...its meaningless so far. 09:59

<eminitrader> es holding so far..

Exited ES Long @ 1308.50 --> 0 10:01

Reverse and Enter Short ES @ 1308.50

<szubaark_MaxLoss> Niha i see thse candles have a lot of long wicks and small bodies so that must mean chop? :)) 10:02

<NihabaAshi> Yep 10:03

It's going to breakout eventually...most likely when volatility dries up and sets up for a volatility spike.

<eminitrader> Covered all ES Short @ 1308.50 --> 0

<NihabaAshi> So far...volatility has been even paced but not drying up. 10:04

<eminitrader> done for now ..not worth the commish

<szubaark_MaxLoss> im still holding..will most likely Reverse Long if i see strength

<NihabaAshi> ER2 is less choppy when volatility flows up and down in comparison to it being choppy when volatility is almost even paced.

<szubaark_MaxLoss> YM,ES helping me stay in this Short as if watching just NQ i would be overtrading for sure 10:05

<eminitrader> Shorts ES @ 1307.75 10:06

<NihabaAshi> Covered ER2 Short @ 712.60 --> - 0.4 10:07

Reverse and Enter Long ER2 @ 712.60

Volatility slowly creeping lower :) 10:08

<silo> niha is sniping for 'em hammers right now

:)

<deepitm> Shorts YM @ 11440 10:10

<szubaark_MaxLoss> only hammer i know is MC Hammer :)

<NihabaAshi> Exited ER2 Long @ 711.60 --> - 1

Reverse and Enter Short ER2 @ 711.60

<eminitrader> Covered 1/3 ES Short @ 1306.75 --> + 1

<NihabaAshi> Shorts ER2 @ 711.40 -> Add 10:11

<szubaark_MaxLoss> Niha you piling on the contracts now?

<NihabaAshi> That was actually a double add (2+1) to the original 2 contracts = Total of 5 right now... 10:12

Looking to add one more.

<eminitrader> Covered 1/3 ES Short @ 1306.75 --> + 1

<szubaark_MaxLoss> emini.. beautiful trading and managing your trades in this chop.

<NihabaAshi> Shorts ER2 @ 711.20 -> Add 10:13

<eminitrader> too much on commish szu ..14 so far

<szubaark_MaxLoss> broker always makes money :(

<eminitrader> true

<NihabaAshi> Volatility still creeping lower. 10:14

<szubaark_MaxLoss> lets see IF they test yersturday low

1580

<NihabaAshi> :( 10:15

<eminitrader> Szu..but i think u did real good ..holding on to ur stop given the volatility

<silo> nihabaashi just doubled down? :) 10:16

<szubaark_MaxLoss> YM,ES were holding steady so i held. ER and NQ were going wacko but i said screw them

<eminitrader> he he

<NihabaAshi> doubled down is averaging into a loser...

I'm only adding when the position moves my way (profitable). 10:17

<eminitrader> Covered Remainder ES Short @ 1307.25 --> + 0.5

<NihabaAshi> Also, I don't do the type of size to be doubling down (9 to 18 contracts)

Anything under 6 contracts is small size for me. 10:18

My size will not increase to normal size trading until late October because that's when the "market seasonal patterns" kick in. 10:19

<eminitrader> i do some times niha but its planned ahead ..rarely on impulse ...ex..i add on sometimes on pullbacks staring from 40% - 60% given the volatility of the pullback 10:20

<NihabaAshi> EuroFX volatility will soon start to pick up again.

That should help dry up the volatility in the Eminis. 10:21

<silo> :P 10:22

<NihabaAshi> Volatility spike in EuroFX and EurUsd. 10:23

<eminitrader> Long ES @ 1306.50 10:24

<NihabaAshi> ER2 volatility still creeping lower. 10:26

<eminitrader> Exited 1/3 ES Long @ 1307.50 --> + 1 10:28

<NihabaAshi> ER2 volatility rose back up to the troubling even paced level...its chop time again :( 10:29

<pdays> Shorts YM @ 11448 «« paper »»

<szubaark_MaxLoss> they retraced most of that Red WRB candle.. not good for my Short 10:31

<les> Shorts ER2 @ 713 10:35

Covered 1/3 ER2 Short @ 712.7 --> + 0.3 10:36

<eminitrader> Exited 1/3 ES Long @ 1307.50 --> + 1

<les> Covered 1/3 ER2 Short @ 711.8 --> + 1.2 10:37

<NihabaAshi> oh oh...

<eminitrader> Exited Remainder ES Long @ 1306.50 --> 0

<NihabaAshi> EuroFX volatility drying up.

Hopefully, ER2 doesn't do a volatility spike. 10:38

<les> Covered Remainder ER2 Short @ 712.6 --> + 0.4

<pdays> Covered YM Short @ 11442 --> + 6 «« paper »»

Reverse and Enter Long YM @ 11442 «« paper »»

<eminitrader> typical friday action.. 10:39

<jperl> Interesting the different perspectives one can have on a market..... 10:41

Here is the ER2 1 minute chart....

http://charts.dacharts.com/2006-09-08/JP ERL_019.png

ER2 hovering around VWAP at 712.70..... 10:42

<NihabaAshi> Thanks jperl

<jperl> with less than a 10 tick spread in the standard deviation...

I won't trade it until that Std deviation is at least 10 ticks

right now it is only 9 ticks 10:43

<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)

<jperl> Here is what a blow up chart looks like of that 1 minute chart I posted... 10:45

<silo> how's are the futures doing 10:46

<jperl> http://charts.dacharts.com/2006-09-08/JP ERL_0110.png

<silo> sideway market right now?

<NihabaAshi> :(

<silo> 'cuz my stock ain't moving

<NihabaAshi> silo...chop city so far.

<jperl> the VWAP and the Std Devs are labled with values

You can see how small the spread is between the lines 10:47

<deepitm> This is like having a stare down contest with my dog

<szubaark_MaxLoss> lol

<NihabaAshi> Something has got to give soon...this thing is too corked up. 10:48

<Chilly> Long YM @ 11448 «« paper »»

<silo> hey chilly 10:49

<Chilly> hey

<pdays> Exited all YM Long @ 11450 --> + 8 «« paper »» 10:50

<NihabaAshi> Covered ER2 Short @ 713.10 --> - 1.5

Reverse and Enter Long ER2 @ 713.10

I'll post the actual loss on that ER2 short...incorrect script info...loss is bigger than that. 10:51

That's a WRB spike and so far today...ER2 has reversed those pretty quickly. 10:52

Need to be careful.

Meant...its a WRB (not a volatility spike). 10:53

Exited all ER2 Long @ 713.40 --> + 0.30 10:54

<asuni> er short was 10:55

<NihabaAshi> ER2 volatility drying up...wanted out of that Long so that I can trade it.

<silo> hey niha, how many trades do you enter a day on an average... how many contracts 10:57

<NihabaAshi> ER2 volatiliyt has dried up...first time all day. 10:58

silo...usually no more than 7 trades all day... 10:59

If I go over 7...its a bad trading day.

<Chilly> Exited 1/3 YM Long @ 11456 --> + 8 «« paper »»

<szubaark_MaxLoss> Covered all Short NQ at 1591.25 --> - 4.25

Buys NQ @ 1591.25

<NihabaAshi> My last stats showed I'm averaging about 3.8 contracts per trade...

<deepitm> Covered all YM Short @ 11458 --> - 18

<NihabaAshi> A number that's been declining for about a year.

<deepitm> I guess I blinked first. Gosh that dog is good 11:00

<NihabaAshi> My average will increase between mid-Oct to January...than start declining again.

That's been the pattern of my trading for the past 7-8 years. 11:01

It declines from Jan - mid Oct.

<szubaark_MaxLoss> crap.. held that Short to only take a -4 loss :(( 11:02

<les> Shorts ER2 @ 713.4 11:03

<szubaark_MaxLoss> trying to have just One Profitible day this week..looks like its not gonna happen 11:04

<silo> spy is moving a little bit now huh?

<NihabaAshi> szubaark...you have not had one profitable trade all week ??? 11:06

<szubaark_MaxLoss> Trades YES, Day NO

<les> Covered all ER2 Short @ 713.4 --> 0 11:07

wrong trade decision, so ditched it

<szubaark_MaxLoss> like now, I reversed Long looking for followthru to upside, they going down :(

<les> Shorts ER2 @ 713.4 11:08

<jperl> ER2 update.... 11:10

<szubaark_MaxLoss> i just didnt expect Sept to be MUCH TOUGHER then June-August

<jperl> http://charts.dacharts.com/2006-09-08/JP ERL_0111.png 11:11

Look at the number of times price action crossed VWAP this morning...

do you really want to trade this

<Chilly> Exited 1/3 YM Long @ 11455 --> + 7 «« paper »» 11:16

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<yo> gm all 11:18

<NihabaAshi> Shorts ER2 @ 713.60 -> small size

3 contracts

<yo> first trade niha 11:20

<silo> hey YO

<Chilly> exit stop set YM @ 11436 «« paper »» 11:21

<NihabaAshi> If you join the room late...I think its a first trade for everybody to you :)

<Chilly> bbl

<yo> lol

<NihabaAshi> ER2 volatility drying up. 11:22

May get lucky and catch a volatility spike.

<jperl> ER2 at VWAP 713.0 11:24

* jperl never trades at the VWAP

<jperl> my daily reminder

<szubaark_MaxLoss> Exited all Long NQ at 1589 --> - 2.25

:((

Shorts NQ @ 1589

<les> Covered 1/3 ER2 Short @ 712.8 --> + 0.6 11:25

<szubaark_MaxLoss> this will be my last trade..im exhausted from watching this crap

<sub> Shorts YM @ 11453 «« paper »» 11:27

<NihabaAshi> Covered ER2 Short @ 713.70 --> - 0.1 11:29

Reverse and Enter Long ER2 @ 713.70

Geeesh :(

<jperl> Well I really raked in the profits this morning with all my trades... 11:30

http://charts.dacharts.com/2006-09-08/JP ERL_0112.png

about enough to buy lunch 11:31

<szubaark_MaxLoss> yeah i cant even say that.. Will work for food this week 11:32

<jperl> have a nice weekend all....

see you Monday

<szubaark_MaxLoss> bye

<les> Covered Remainder ER2 Short @ 713.8 --> - 0.4

<asuni> bye

<szubaark_MaxLoss> this could develop into a nice move, since everyone getting killed in this chop 11:34

<les> right szu - i was lucky to get away with it 11:35

<szubaark_MaxLoss> emini you didnt Short this Double top on ES? 1309

<NihabaAshi> szu...its been a long time since I've seen ER2 go most of the trading day with equal volatility...

It's still corked up...waiting for a strong move.

<les> certainly feels that way, niha

<NihabaAshi> It's only had two volatility spikes today. 11:36

Just guessing...it should have had at least 5 of them by now.

<les> the daily says consolidation

<NihabaAshi> Only thing I fear today is that it makes a big move while I take my normal break from the market... 11:37

It's done that all week when I took a time out...regardless when I take it. 11:38

:(

<szubaark_MaxLoss> Niha you think up or down from here?

<NihabaAshi> Up

As we get closer to 12noon est (dead zone time)...I'll start thinking down based upon yesterday's performance. 11:39

<les> Long ER2 @ 713 11:40

<NihabaAshi> Even EuroFX is dead today...its only had one volatility spike.

<szubaark_MaxLoss> ES 1309 is my Stop on this 11:41

<NihabaAshi> Meant two counting the pre-market action.

<les> Exited 1/3 ER2 Long @ 713.3 --> + 0.3

<szubaark_MaxLoss> les you buying pizza tonight 11:42

<les> not at this rate

<NihabaAshi> With Light Crude Oil back below $70 and not making as much fuss in the market for the past few trading weeks... 11:43

<les> Exited 1/3 ER2 Long @ 714 --> + 1 11:44

exit stop raised ER2 @ 713.1

<NihabaAshi> I'm preparing for worst trading conditions for the remainder of September until mid-October or until Light Crude Oil gets back above $70 with some news. 11:45

When Oil is quietly dropping...its not good trading in the Eminis. 11:46

<les> Exited ER2 Long @ 713.5 --> + 0.5 11:49

Reverse and Enter Short ER2 @ 713.5

<NihabaAshi> ER2 volitilty is dead but that's only because of the lunch crew trading. 11:50

<deepitm> out to lunch

Lunch

<NihabaAshi> Thus, I usually ignore any volatility info aournd this time unless its associated with a big volume spike.

<szubaark_MaxLoss> ES testing high AGAIN :(( 11:52

<NihabaAshi> Exited ER2 Long @ 713.50 --> - 0.2 11:54

Reverse and Enter Short ER2 @ 713.50

<szubaark_MaxLoss> they could do a fakeout here :((

<NihabaAshi> Shorts ER2 @ 713.10 -> small size 11:55

<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> That's and add...will correct to prevent another script code mess.

<les> Covered all ER2 Short @ 714 --> - 0.5

ooops 11:56

<NihabaAshi> Shorts ER2 @ 713.50 -> small size

<les> Covered all ER2 Short @ 713.1 --> + 0.4

decided to bail

<NihabaAshi> Shorts ER2 @ 713.10 -> Add

<les> this tight range just keeps going on

<szubaark_MaxLoss> crossing my fingers ES holds

<NihabaAshi> les...it has unbelievable staying power. 11:57

<les> yup

<NihabaAshi> It can outlast us very easily :(

<les> driving me nuts here

hehe

the mkt has become a stud

<szubaark_MaxLoss> lol

<NihabaAshi> I'm at a total of 6 contracts...

Just trying to put on a small winner just before taking a 30min lunch break. 11:58

<szubaark_MaxLoss> ES holding folks

<les> bbiam

<NihabaAshi> Won't do my normal 1.5 hr break...too afraid of missing a big move especailly with being down for the day.

<szubaark_MaxLoss> Niha when was last time u had a losing day? 11:59

<NihabaAshi> last week :)

Geeesh...that reversal ate up ER2 third volatility spike of the day :( 12:00

WRBs don't last long today.

It's lunch time and I'm afraid of getting stuck in this trade like the others today... 12:01

Looking to dump it. 12:02

:( 12:03

Covered all ER2 Short @ 712.60 --> + 1.4 12:06

Will post corrections now of this Long and a prior Short...

* les is now known as lesAway 12:11

<NihabaAshi> Most recent Long position was +0.50 on 3 lots and +0.90 on 3 lots 12:13

On the Short position I closed around 1050am est: -1.5 on 2 lots, -1.7 on 3 lots and -1.9 on 1 lot

Taking a lunch break...be back later. 12:14

<szubaark_MaxLoss> TANK!

* NihabaAshi is now known as NihabaAshi_lunch

<szubaark_MaxLoss> Covered all Short NQ at 1589.50 --> - 0.5 12:17

cant take this anymore..

* szubaark_MaxLoss is now known as szubaark_away

<sub> Covered all YM Short @ 11456 --> - 3 «« paper »» 12:43

* NihabaAshi_lunch is now known as NihabaAshi 12:49

<Chilly> exit stop raised YM @ 11449 «« paper »» 13:04

<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) 13:07

<NihabaAshi> ER2 volatility drying up. 13:15

Prior WRB almost completely retraced...crazy how consistent that has been the theme today. 13:17

Shorts ER2 @ 713.80 -> small size 13:18

3 contracts

Late entry...my pattern signal occurred several intervals ago.

Intentionally delayed my entry to prevent getting suckered by that WRB spike. 13:19

<codehead> long YM 11461 <paper>

trend too weak to take it real

but i'm bored--weak cci zlr signal

and oil new lows

that Ym 5 min could turn into a ghost for down if it doesn't get some upside 13:20

<NihabaAshi> Covered ER2 Short @ 714.20 --> - 0.4 13:22

Reverse and Enter Long ER2 @ 714.20

Long 5 contracts

<Chilly> Exited Remainder YM Long @ 11469 --> + 21 «« paper »» 13:23

bbl

<codehead> exit half YM +10 <paper> 13:24

<NihabaAshi> When I catch myself trying to cheerlead a trade to go my way...its a sign to stop trading :(

<codehead> raise stop to 11466 on remainder

<NihabaAshi> Exited ER2 Long @ 714.80 --> + 0.6 13:26

Long ER2 @ 714.60 -> small size 13:29

2 contracts

volatility just dried up...expecting a volatility spike soon. 13:34

I think there's a key German econ report today around 2pm est. 13:35

Crazy price action...its got to stop sometime today and just behave normal :) 13:37

<codehead> raise stop to 11469 YM <paper>

<jperl> ER2 price distribution function shown here..... 13:39

http://charts.dacharts.com/2006-09-08/JP ERL_0113.png 13:40

What every academician loves....

a NORMAL distribution function

<silo> sup fellas

hey niha

my first trade is doing well 13:41

:)

up 713 bucks right now

and it's getting close to my first PT1..... 3% mark

<NihabaAshi> Geesh...that's tight for ER2 711.50 - 714.70

<jperl> indeed it is

When you have a normal distribution like this.... 13:42

don't expect any break outs

Note the peak in the distribution at 713.10 .... 13:44

that's right near the VWAP at 713.30

It's only when the VWAP moves away from the peak that you have a "non-normal" day 13:45

<NihabaAshi> Yep...I took a big loss near that VWAP :( 13:46

Exited ER2 Long @ 714.00 --> - 0.6 13:47

Reverse and Enter Short ER2 @ 714.00

3 contracts 13:48

ER2 behaving normal now...lets see how long this last :( 13:51

<ItalianSharp> its been a long day so far niha...you are gonna need this weekend to rest and regain your energies for all the trades you did today!

<NihabaAshi> I've had a lot of long mid-day trading breaks this week... 13:52

I guess I was due to put in a regular hour trading day.

<ItalianSharp> :) 13:53

<NihabaAshi> That normal price behaviour last almost a full 3mins :(

<ItalianSharp> weird day, no direction whatsoever not to mention volatility...the 5 min chart looks like a cemetery in the last hour 13:54

<NihabaAshi> Brokerage firms doing a good job today in battling the big boys...choppy tight range as a result. 13:55

big boys as in floor guys.

<ItalianSharp> guess after a day like this we are going to see big moves next week 13:56

<NihabaAshi> Any big econ events next week...could be a big week of trading. 13:57

Covered ER2 Short @ 715.30 --> - 1.3

Reverse and Enter Long ER2 @ 715.30

That was the best volatility spike all day and I couldn't reversed fast enough into it :( 13:58

Late reversal means no adding to the position :( 14:00

Just gotta sit here and watch.

That was the first back to back WRBs all day. 14:02

<codehead> k, was away, my paper trade stopped out remainder +8

<NihabaAshi> Volatility spike in reaction to Europe info. 14:03

Anybody in here watching the DAX ? 14:04

<silo> now we're starting to see some movements huh?

<NihabaAshi> silo...so far...this is the best chance of the trading day for possible substainable price action in one direction. 14:05

<ItalianSharp> the euro still dead though, not much reaction there

<NihabaAshi> Maybe I spoke too soon...ER2 trying to retrace a WRB :(

<silo> yeah SPY is going up too 14:06

<ItalianSharp> german trade balance was the news 14:08

but at 2am this morning

:)

i cant see other news this late on friday

<eminitrader> consumer credit due @ 3 pm est 14:09

<NihabaAshi> Ah...its posted on the calendar along with the pm info :(

not posted with the am info. 14:10

I've been hoping that German report will generate some volatility this afternoon...thinking about it all morning... 14:11

Turns out it was a 2am est schedule and not a 2pm est schedule.

I'm done trading for the day.

<silo> nice 14:13

positive?

<NihabaAshi> Exited all ER2 Long @ 715.60 --> + 0.3 14:16

Lucky escape. 14:17

silo...negative for the day but profitable for the week.

Just don't like closing the any week on a losing trading day.

I stuck with trading all day "ONLY" because I thought there was a pending key econ report at 2pm est. 14:18

Darn thing was at 2am est :(

<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) 14:19

<silo> how much are you up for the week if you dont mind me asking.. i'm just curious 14:25

:)

<NihabaAshi> silo...see pm :) 14:28

By the way...over the past few days in here I found out that some in here didn't know they could log the conversation in here. 14:29

To those that want to keep their own log or time stamp their log... 14:30

Just click on the small box in the window corner of this room in mIRC...

It'll bring up a bunch of command lines.

Go to Logging and Timestamp and check for ON 14:31

If your still lost...go to ezboard in the same thread where the password is store at and there's detailed instructions for such. 14:32

If you still can't figure it out...

I keep a log with timestamps at http://www.thestrategylab.com/RecentTrades.htm

It's usually updated each night before 9pm est.

<lesAway> Long ER2 @ 714.5 14:36

exit stop set ER2 @ 713.9 14:37

* lesAway is now known as les 14:38

<eminitrader> think i'll call it a day...see u all next week ..have a good one 14:43

<les> Trailing Stop Hit ER2 @ 713.9 --> - 0.6 14:52

(((:

<NihabaAshi> Reminder -> #FuturesTrades chat room trade logs are posted @ http://www.thestrategylab.com/RecentTrad es.htm (logs will be updated tonight by 9pm est to current) 15:27

Take care all and hope all have a nice weekend.

Gotta cut out early...its my turn to pick up the kid from day care. 15:28

:)

* 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) 15:31

<Chilly> gn all 15:53

<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) 16:43

* DisconnectedSession Close: Fri Sep 08 16:58:20 2006 16:58

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