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#FuturesTrades September 13th Thursday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+10.70	+72.10	+2540.70
$1,070	$7,210	$254,070

Profitable Trade

1510pm - 1519pm est

Losing Trade

0933am - 0936am est

click on image to view actual size

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

Trading via WRB Analysis: Wide range bodies (WRBs) pack a wealth of info about strong continuation price action and swing points.

Further, I think too many traders concentrate on trying to catch the next trend reversal instead of trying to understand what causes swing points.

Take a look at the all session (includes overnight data) 3min chart of today's Emini ER2 for the interval that closed @ 1009am est.

That's a White Hammer Line that at one particular moment was a WRB during the development 3min interval.

It occurred within the price range of a prior swing point and the White Hammer Line produced its own swing point that can be used as a WRB s/r zone, profit target or price area to look for other pattern signals regardless if you traded the Bullish White Hammer pattern or not.

By the way, not all White Hammer Lines are tradable and if you want a high probability trading plan for trading Bullish White Hammer patterns along with other custom Japanese Candlestick patterns...click here.

General Strategy Info: The above profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi) only and all trades were posted in realtime as shown in the below chat log.

Although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based (no subjectivity) methodology that involves WRB Analysis.

In fact, many of my trades or profit targets will occur within key WRB support/resistance zones because these price areas gives me a better understanding of key changes in supply demand.

Traditional pivot point analysis or traditional s/r levels are inadequate in understanding changes in supply/demand of the Russell 2000 Emini ER2 or any other trading instrument of today's markets in comparison to WRB Analysis.

WRB Analysis is also a key aspect in my use of intermarket analysis, market seasonal tendencies, volatility analysis and custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

Further, position size management is a key aspect of my trading and I trade any where between 1 to 9 contracts per trade depending upon the volatility, pattern signal, seasonal tendencies or intuition.

All of my trades and commentary for today's market action (posted below) are via the user name NihabaAshi (Japanese Candlestick term) and I exclusively trade the Russell 2000 Emini ER2 futures even though I closely monitor other key markets in the world.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in realtime along with the trades of other members of #FuturesTrades.

Further, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Session Start: Thu Sep 13 09:30:29 2007Session 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

<PapaJon> reminder all.. today is rollover day

<NihabaAshi> Thanks PapaJon 09:31

<PapaJon> yw

<pat255> yes be careful low vol on dec contracts 09:32

<NihabaAshi> Long ER2 @ 786.10 -> small size 09:33

3 only

<intowin> my sprayer had some problems this am so I may be able to join for a little while gm 09:34

<werner> gm all 09:35

<intowin> short ES @ 1495 09:36

sorry 94

short ES @ 1494

<NihabaAshi> Exited ER2 Long @ 784.20 --> - 1.9

Reverse and Enter Short ER2 @ 784.20

<werner> new tikkers?

contracts? 09:37

<intowin> I rolled

<werner> ok tx

<NihabaAshi> Now the price deciedes to get jumpy :( 09:39

Covered 2/3 ER2 Short @ 781.40 --> + 2.8 09:45

Gold is falling but not Oil 09:48

<intowin> Covered 1/2 ES Short @ 1492 --> + 2

<NihabaAshi> If Oil joins in on the decline...I should be able to bag a 5 pointer on this remainder.

However, on the flip side...

<intowin> I always though oil and minis played opposite each other? 09:49

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Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<NihabaAshi> If Gold decides to stall or go up...it will shake me out of my remainder short

intowin...you talking about a 1 to 1 corellation.

I not talking about that.

<intowin> oh

<NihabaAshi> I use a 2 (Oil and Gold) to 1 (ER2) correlation.

Simply, there's no correlation if Oil and Gold aren't doing the same thing. 09:50

<intowin> I am still using my abasis over here lol

<NihabaAshi> Oil moving higher and Gold trying to stabilize. 09:51

* subq market profile charts for today 09:52

<NihabaAshi> Covered Remainder ER2 Short @ 782.20 --> + 2

* subq http://www.charthub.com/images/2007/09/1 3/er2_rth_mp.png

http://www.charthub.com/images/2007/09/1 3/es_rth_mp.png

http://www.charthub.com/images/2007/09/1 3/nq_rth_mp.png

http://www.charthub.com/images/2007/09/1 3/ym_rth_mp.png

<eminitrader> .. 09:55

<szubaark> Shorts ES @ 1495 «« paper »»

<eminitrader> Shorts ES @ 1495.50 09:56

<szubaark> exit stop set ES @ 1496 «« paper »»

<eminitrader> Covered all ES Short @ 1495.50 --> 0 09:58

ym strong ...may pull the ES

<pat255> yes em ...ym gamgbusters

<szubaark> u had nice entry emini

<eminitrader> felt not worth the risk...

<Tim_a> spx stalled at 50 day ma, dow risin up to test it 09:59

<werner> indu daily triangle pattern here,maybe res 10:01

<szubaark> Covered 1/2 Short ES at 1493.50 --> + 1.5 «« paper »» 10:03

exit stop moved to breakeven ES @ 1495 «« paper »»

<pat255> L 92.75 paper 10:04

<werner> http://sep13b.imghost.us/PK4i.jpg 10:05

<szubaark> i wonder if changeover to Dec is causing all this chop

<eminitrader> nice szu

<szubaark> thx. runner on.... 10:06

<NihabaAshi> Dark Hammer line

<Tim_a> i think it's more the 40 day ma test

<eminitrader> nice call

<Tim_a> i 50 day

<szubaark> Covered all Short ES at 1493 --> + 2 «« paper »» 10:07

Price stalled.

<NihabaAshi> Long ER2 @ 780.50 -> small size 10:10

2 only

:( 10:12

I got some support but ER2 not responding to get the price back up within the range of upper price area of the Dark Hammer Line. 10:13

<pat255> ym came down but es refusing to break down.. 10:14

<NihabaAshi> Exited 1/2 ER2 Long @ 781.30 --> + 0.8 10:16

Exited Remainder ER2 Long @ 781.40 --> + 0.9 10:17

<pat255> vn N ..missed the div on er...

<szubaark> Buys ES @ 1496 «« paper »» 10:22

<intowin> Covered all ES Short @ 1496.50 --> - 2.5

<szubaark> Exited 1/2 Long ES at 1496.50 --> + 0.5 «« paper »»

exit stop moved to breakeven ES @ 1496 «« paper »» 10:23

<eminitrader> lot of connectivity pbs since yest..

<szubaark> Exited all Long ES at 1496 --> 0 «« paper »»

<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) 10:24

<intowin> es was leading now it doesnt want to run with er strange day so far 10:36

I still want to short this market today for some reason 10:38

<Brutus> Looks long IT, NQ needs to get above the I H&S neck line 10year and Dax very +ve 10:42

<intowin> oh I agree thats why I cant figure out why I want to short lol

<szubaark> Shorts ES @ 1497.75 «« paper »» 10:46

<NihabaAshi> volatility declining...I'm expecting a volatility spike here soon. 10:47

<szubaark> Covered 1/2 Short ES at 1496.75 --> + 1 «« paper »» 10:48

exit stop moved to breakeven ES @ 1497.75 «« paper »» 10:49

<intowin> Tight stops look like they are working better for you szu

<szubaark> any Volatility spike down Ill exit my remainder

Covered all Short ES at 1497.75 --> 0 «« paper »» 10:51

<NihabaAshi> Long ER2 @ 785.60 -> small size 10:55

2 only

WRB pt1 reached but I'm unable to grab it as an exit :( 11:01

<pat255> k guys later ... 11:07

need to run some errands..

ty all

<NihabaAshi> oh oh 11:11

Exited all ER2 Long @ 785.80 --> + 0.2 11:13

I started losing my support at the 785.20 price area...

Thus, watching it move higher allowing my a profitable exit is LUCK. 11:14

On that note, I'm going to take an early lunch break.

Be back later.

* NihabaAshi is now known as NihabaAshi_lunch

<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) 12:27

* NihabaAshi_lunch is now known as NihabaAshi 12:44

<NihabaAshi> volatility declining fast 12:46

Long ER2 @ 787.30 -> small size

2 only

problem trade 12:47

volatility dropping fast again 12:53

<intowin> got bored with es and er not moving took a stab at the australian dollar... glad I did its the only thing moving... luckily in my direction 12:56

<NihabaAshi> I just lost my patience on this trade. 12:57

Exited 1/2 ER2 Long @ 788.10 --> + 0.8 12:59

I just got back my patience :) 13:01

Exited Remainder ER2 Long @ 789.10 --> + 1.8 13:05

<intowin> nice call 13:07

<NihabaAshi> :)

<intowin> I just cant shake my desire to try and find a short today..

glad I havent persued .....YET 13:08

1505 is r3 for es will c what happens there 13:21

<Tim_a> i have to admit, this market makes no sense to me

ym penant forming 13:35

<intowin> I am looking to scale into a es short with a 1506 stop

counter trend is usually not my friend but when they work I get my small stops back plus some 13:38

<szubaark> Shorts ES @ 1501.75 «« paper »» 13:52

<Brutus> Long ES @ 1500.75 «« paper »» 13:56

<szubaark> Covered 1/2 Short ES at 1500.75 --> + 1 «« paper »» 13:57

exit stop moved to breakeven ES @ 1501.75 «« paper »»

Limit to Cover Short ES @ 1499 «« paper »» 14:05

either pops my Stop or get filled on Exit@1499.. be back 14:06

<Brutus> Exited ES Long @ 1501 --> + 0.25 «« paper »» 14:11

<szubaark> Covered all Short ES at 1501.75 --> 0 «« paper »» 14:12

:(

<intowin> short ES @ 1500 14:15

<szubaark> shook me out :((

<intowin> wanted 1504 again but will use wide stop

and add in bounce to average 14:16

<Brutus> ER still near HOD 14:18

Long ES @ 1499 «« paper »» 14:19

<intowin> Covered 1/2 ES Short @ 1499 --> + 1

balance at break even I may get a better shot

<Brutus> Exited ES Long @ 1500 --> + 1 «« paper »»

<intowin> Covered all ES Short @ 1500 --> 0 14:20

<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) 14:33

<intowin> Long ES @ 1500 14:36

giving up on my short for now

r3 is close and they probably want it 14:37

<NihabaAshi> Just got back... 14:49

Nice price movement.

<Brutus> 09/13/2007 14:32 *DJ OIL FUTURES: Nymex Crude Ends +14c at $80.05/Bbl

<intowin> Exited all ES Long @ 1500 --> 0 14:50

I think I will go watch some water boil instead 14:53

more exciting

<NihabaAshi> Shorts ER2 @ 791.60 -> small size

2 only

<intowin> yeah I am ready to scale into a short es all the way to 55 again.. if it was going to pop it should have done it by now 14:54

<NihabaAshi> Covered 1/2 ER2 Short @ 790.50 --> + 1.1 14:56

<Tim_a> nice nih

<NihabaAshi> Holding 1 because Gold seems to want this to go down but Oil not joining in so far :(

Hammer line trying to form on the 2min chart :( 14:57

<Tim_a> are you finding gold, oil and er2 tightly correlated usually?

<NihabaAshi> Covered Remainder ER2 Short @ 791.50 --> + 0.1 14:58

Tim_a...what's your definition of correlation ? 14:59

<Tim_a> tendency to move the same direction or reliable inverse

<NihabaAshi> There's a high correlation to the Eminis when Gold and Oil are doing the same thing. 15:00

Correlation is low when Gold and Oil are keeping pace with each other. 15:01

Good example of low correlation to the Eminis was the initial price decline out of the gate this morning. 15:02

Gold and Oil weren't keeping pace with each other...

Simply, trading is much easier when the "key markets" are in sync sort'uv speak instead of fighting each other. 15:03

weak resistance area here 15:06

volatility also declining

Reminder -> #FuturesTrades chat room trade posting archived logs are posted @ http://www.thestrategylab.com/RecentTrades.htm (today's log will be updated tonight by 9pm est) 15:07

Shorts ER2 @ 791.90 -> small size 15:10

1 only

weak support around 791.60 price area 15:12

<Brutus> Niha there is no colour in the log files anymore?

text only?

<NihabaAshi> Yeah...I have a major IRC color code conversion problem.

<Brutus> ic 15:13

<rainer> Shorts ER2 @ 791.9

<NihabaAshi> Simply, I can't remember how to do the html format to use the code :(

I lost my instructions for it. 15:14

As in I accidentally deleted it.

<Brutus> - 1000 tick little bearish

<NihabaAshi> Also, the guy to showed me how to do it before has changed his email address. 15:15

Big Dark WRB pt target area right now

Covered ER2 Short @ 789.00 --> + 2.9 15:19

<Pepe> very nice 15:20

<intowin> I waited all day for that short and let it pass me by lol

<NihabaAshi> Once it broke below that weak support area...it had a good chance to retest the prior swing point. 15:21

<intowin> had an order in at 1503

<NihabaAshi> That trade also gave me my profit goal for the day.

Brutus...I found a website that uses a similar code as mine for IRC color log conversion... 15:23

http://www.jwz.org/hacks/irc2html.cgi

<Brutus> ok good

<NihabaAshi> I'll use it for awhile until I can figure out the cgi 15:24

However, I prefer to use it at my own site.

<intowin> Long ES @ 1498.75 15:25

<Brutus> Niha another faster option is to use snagit to capture a jpg of todays log, scroll capture function. then u just post the jpg

<rainer> Covered all ER2 Short @ 790.4 --> + 1.5 15:26

<NihabaAshi> I did that for a few months but it takes up large space at my site and the search engines can't scan the text on an image :(

<Brutus> ic 15:27

WRB Analysis

Learn More

<NihabaAshi> I also got a lot of complaints by many site visitors that said the images were too large and some wanted to copy particular trading tips in the logs but couldn't do it. 15:28

<rotherwell> hi 15:40

<intowin> Exited all ES Long @ 1549.75 --> + 51 15:42

Exited all ES Long @ 1459.75 --> - 39 15:43

lol

Exited all ES Long @ 1499.75 --> + 1

there we go

<Tim_a> dow at 20 week ma 15:44

<intowin> short ES @ 1498.25 15:46

last trade

Covered 1/2 ES Short @ 1495.50 --> + 2.75 15:48

<Tim_a> volume explosion 15:50

<pdays> Shorts ER2 @ 786.6 15:54

Covered all ER2 Short @ 786.2 --> + 0.4

<intowin> exit stop set ES @ 1500 16:03

will carry this overnight for a 1494 fill.. whichever comes first.. 16:04

<Brutus> ============ U.S. MARKETS ACTION =========== 16:05

DJIA up 133.96 points to 13425.61

NASDAQ up 10.53 points to 2602.60

S&P 500 up 12.55 points to 1484.08

10-year T-note down 20/32 at 102 2/32 yield 4.489

NYMEX Spot Crude up $0.18 at $80.09/bbl at close

Dollar/Euro down 0.0025 at 1.3879

<intowin> cu guys in the morn

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={c924e 50a-ae39-45b7-8bb6-6ce4e27e32fe} 16:06

<werner> gn all 16:16

* sep34 is now known as sep34_away 16:20

<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) 16:39

<NihabaAshi> Take care all and see all tomorrow 17:09

* DisconnectedSession Close: Thu Sep 13 19:08:42 2007 19:08

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

CME Emini Futures EMD, ER2, ES and NQ

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

COMEX Metals Gold GC

Hang Seng Index Futures HSI

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