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#FuturesTrades September 20th Thursday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+13.00	+151.30	+2619.90
$1,300	$15,130	$261,990

Profitable Trade

1042am - 1112am est

Losing Trade

1023am - 1031am 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: The only interesting WRB today was a White WRB between 1004am - 1006am est that occurred in reaction to the 10am est Leading Indicators economic report.

In fact, the price action of this White WRB s/r zone (820.20 - 821.90) dictated supply/demand until about 1228pm est.

It may also become a key WRB s/r zone for tomorrow's price action considering there are no economic reports on Quadruple Witching Friday.

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 20 09:24:18 2007Session Ident: #FuturesTrades

* Now talking in #FuturesTrades 09:24

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

<PapaJon> gm all 09:25

<werner> gm all 09:27

* subq market profile charts for today 09:29

http://www.charthub.com/images/2007/09/2 0/ym_rth_mp.png 09:30

http://www.charthub.com/images/2007/09/2 0/er2_rth_mp.png

http://www.charthub.com/images/2007/09/2 0/es_rth_mp.png

http://www.charthub.com/images/2007/09/2 0/nq_rth_mp.png

<base> GM all 09:32

<bern> Bush schedules press conference for 1045 et 09:35

<intowin> what about? 09:36

<bern> I dont know

http://www.foxnews.com/story/0,2933,2974 27,00.html 09:38

<intowin> wow 09:42

er may want 13.5 09:45

<Brutus> 1000/1400 Sep 8 DJ-BTMU Business Barometer 09:51

Weekly Business Barometer -0.2%

1000/1400 Aug Conference Board Leading Econ Indicators

Leading Index -0.3% +0.4%

<NihabaAshi> Long ER2 @ 820.00 -> large size 09:52

<Brutus> 10:00 Fed Chairman Bernanke, Tsy Secy Paulson testify before U.S. 09:55

House Financial Services panel on credit markets in

Washington

<szubaark> Shorts ES @ 1538.50 «« paper »» 09:58

exit stop set ES @ 1540.25 «« paper »»

<intowin> short ES @ 820.50 10:00

<NihabaAshi> Exited all ER2 Long @ 820.10 --> + 0.1

Be right back...gotta do a reboot (data problems) 10:01

* DisconnectedSession Close: Thu Sep 20 10:01:42 2007

Session Start: Thu Sep 20 10:10:37 2007Session Ident: #futurestrades

* Now talking in #futurestrades 10:10

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

<eminitrader> hopefully we have seen the highs :)) 10:11

<szubaark> Shorts ES @ 1541.50 «« paper »» 10:13

<pat255> too trong ..dang 10:14

<eminitrader> be back stop in 10:16

<intowin> short ES @ 823

<szubaark> Covered 1/2 Short ES at 1540.25 --> + 1.25 «« paper »» 10:17

exit stop moved to breakeven ES @ 1541.50 «« paper »» 10:18

<NihabaAshi> Long ER2 @ 821.90 -> large size 10:23

<szubaark> jumpy price action again 10:24

<eminitrader> Covered 1/3 ES Short @ 1539 --> + 2 10:27

<intowin> Covered 1/2 ES Short @ 820.60 --> + 2.4 10:30

<NihabaAshi> Exited all ER2 Long @ 820.90 --> - 1 10:31

<pat255> geez vn emini had the same entry then got out b/e ..as it moved up

<szubaark> Nice emini,intowin

<Tim_a> yes

<intowin> thanks 10:32

<NihabaAshi> Shorts ER2 @ 819.80 -> large size

Covered all ER2 Short @ 819.90 --> - 0.1 10:38

<eminitrader> thx szu

<intowin> I really dont see what kind of support would be stalling it here... 10:40

stop is at b/e just in case 10:42

<NihabaAshi> Long ER2 @ 820.30 -> large size

weird contracting volatility 10:43

<intowin> man the euro is really rocking 10:44

I have moved from two to three contracts and forgot the exit symbol for 1/3rd? 10:46

been using 1/2 too long 10:47

<NihabaAshi> Long ER2 @ 819.60 -> Add

<Brutus> Exited 1/3 ES Long @ 3rd --> + 3rd - 1488.5 «« paper »»

bbbbb /ET /ETT 10:48

<intowin> thanks

<Brutus> 3rd and 2 3rds

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 10:49

<NihabaAshi> Exited 1/2 ER2 Long @ 820.20 --> + 0.6 10:50

Any news alerts??? 10:55

volatility is odd

Trading Edge:
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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)

<intowin> still dont c what that bounced off of

options expiration week prob

<szubaark> yes

<Tim_a> bush/bernanke crosscurrent? 10:56

<Brutus> everythings in a narrow range today even Dax

<NihabaAshi> Bush ?

<Tim_a> thought he had press conference this morning

<NihabaAshi> What time does he speak???

<pat255> bernake was speaking now ..

<Tim_a> now

<NihabaAshi> :(

geesh 10:57

<Tim_a> bush tends to help short, beneke tends to help longs

<pat255> that is what i heard..sorry not sure ..

tv just went off

<Tim_a> dont kn ow what time bush started, but he's on now 10:59

<NihabaAshi> I'm going to call now those strange price areas of 822.00 and 820.00 as s/r zones 11:04

<szubaark> Covered 1/2 Short ES at 1540 --> + 1.5 «« paper »» 11:07

frikin Chop.

Buys ES @ 1540.50 «« paper »» 11:08

looks like i took the bait :( 11:10

<intowin> I really want to short euro right here but dont have the guts lol

<NihabaAshi> Exited all ER2 Long @ 821.70 --> + 1.4 11:12

<pat255> vn N ..

<intowin> Niha any idea what er bounced off of around your entry? Or was it intuition? 11:13

<NihabaAshi> intowin...I watched how it traded around the 820.20 price area because that was the low price of a prior key s/r zone 11:16

Upper area of the same s/r zone was 821.80 11:17

<intowin> thanks

<NihabaAshi> I was able to dump it as soon as it hit 821.80

<intowin> hopefully you dumped at the top.. Hoping for new lows 11:18

<Tim_a> sometimes i think just short spx/long dow would be lazy, easy money 11:20

ie short es/long ym

(adjusted for relative weight) 11:21

<NihabaAshi> Long ER2 @ 820.00 -> large size 11:22

volatlity dropping fast around this s/r zone 11:25

Not sure if I want to be in a trade when the volatility spikes hits

Exited all ER2 Long @ 820.30 --> + 0.3 11:26

<szubaark> yeah.. not doing much.. and im stressing over my Long right now 11:27

ES loves this 1538 Level here 11:28

Exited all Long ES at 1538 --> - 2.5 «« paper »» 11:34

:(((

Shorts ES @ 1537.75 «« paper »»

<NihabaAshi> Shorts ER2 @ 819.30 -> small size 11:35

3 only

<szubaark> OK 11:41

<NihabaAshi> Covered all ER2 Short @ 819.20 --> + 0.1 11:42

going to lunch

* NihabaAshi is now known as NihabaAshi_lunch

<szubaark> just pure T%^&^ Price Action

<intowin> philly fed in 10 minutes may give small bounce. 11:50

<Brutus> 09/20/2007 11:50 *DJ Bernanke: Fed Will Continue To Monitor Financial Developments 11:51

09/20/2007 12:00 *DJ Philadelphia Fed Sep Business Index 10.9 Vs Aug 0.0 12:00

<intowin> suprised that didnt get a bigger spike 2.5 was expected 12:01

<Brutus> volatility proportianal to congestion zones i guess 12:02

<intowin> time to fade the philly fed

<mhk> long 820.80 er2 12:04

* codehead_afk is now known as codehead

<mhk> out 821.1 +.3 12:05

<szubaark> ok bounce is over, lets test looows 12:08

<pdays> Shorts ER2 @ 820.8 «« paper »» 12:11

Covered all ER2 Short @ 820.3 --> + 0.5 «« paper »» 12:12

<intowin> woohoo 12:28

<Pepe> nice 12:29

<szubaark> fade the philly.. now needs to re-test lows so i can Profit. 12:31

<intowin> yep I am waiting for that also then final one will keep for new lows if it happens 12:32

<Tim_a> ym has had a nice copy range for those smooth enough to catch it (i'm not) 12:33

chop range 12:34

<intowin> should break soon

Covered 1/3 ES Short @ 817.50 --> + 5.5 12:35

thats like a tenner on es

holding one 12:36

<Brutus> nice 1

<Tim_a> nice

<intowin> big clue was little bounce on very good philly numbers

<Brutus> good read 12:37

<intowin> hoping for 14 on balance. stop is set to +1 so its their money 12:38

* NihabaAshi_lunch is now known as NihabaAshi 12:41

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 12:52

<NihabaAshi> Long ER2 @ 819.00 -> small size 12:57

2 only

tough time of the to open a trade position 12:59

<intowin> yep

<szubaark> Covered all Short ES at 1538.50 --> - 0.75 «« paper »»

<NihabaAshi> very easy to get stuck in flat price action

<intowin> good for scalpers i guess 13:00

<szubaark> this week is just too tough to grab any points for me..

* szubaark is now known as szubaark_away

<intowin> I may take the balance of my profits soon. Thought it would hit 19 and turn 13:01

<NihabaAshi> Yesterday was the first trading day in a very long time where I didn't have at least one trade that captured more than 1 point per contract by market close.

<intowin> did you see my 5.5 pter earlier er2? : ) 13:02

they take a lot of patience

lol 13:03

<NihabaAshi> Today...no...maybe it occurred when I had to log off due to data problems.

Actually, I wrong about my trade results yesterday...

<intowin> yeah about .5 hr ago

bought back short at low

<NihabaAshi> I did have at least one trade that made an average of 1 point per contract by the time the trade closed. 13:04

Therefore, that particular streak is still intact.

Kind'uv like a baseball player getting a hit each game. 13:05

volatility spike 13:06

<intowin> really feels like they want 14 or so in er2 might as well hold my last position. worse I can do is up 1 13:07

<NihabaAshi> Dark Hammer Line on 2min chart...be careful. 13:08

<intowin> I have my stop at +1 profit

but yes I c that

<Brutus> Afternoon funny - Beijing supermarket chain Wumart Stores spiked nearly 16% to HK$7.89 .. Wumart :)) 13:10

<NihabaAshi> Exited all ER2 Long @ 818.80 --> - 0.2 13:13

Shorts ER2 @ 818.40 -> small size 13:17

2 only

another tough area to open a Short @ a Dark WRB 13:18

<intowin> real battle today 13:22

<NihabaAshi> Covered 1/2 ER2 Short @ 817.30 --> + 1.1 13:23

<Tim_a> nice 13:24

<NihabaAshi> what was that

<Tim_a> your short

<NihabaAshi> Either the market just ran a bunch of stops or I'm having data burst problems again.

<intowin> option games I guess.. 13:25

14 coming my way : )

<NihabaAshi> weak support here 13:26

Covered Remainder ER2 Short @ 816.30 --> + 2.1 13:27

<ItalianSharp> nice patience niha...tough being patient with this market

<NihabaAshi> agree...very tough... 13:28

<ItalianSharp> especially today...paulson, bernie, and bush seemed to have dried up all the volatility

<NihabaAshi> Yesterday I lost my patience about 1-2 times in about 5 trades

<ItalianSharp> the tough part IMO is to adjust profit targets for winning trades...

there are days were you can look for pts...and days where you must take ticks 13:29

today is one of those days

the tick day

<NihabaAshi> Yep...gotta take profits when they are there.

I got burnt 3 times today when I didn't do that.

<intowin> not sure Italiansharp I am still short since 823 : )

stop now set to +3 13:30

<NihabaAshi> wak support here 13:43

wak = weak

<intowin> I prefer whack hehe

<NihabaAshi> :)

Long ER2 @ 817.00 -> small size 13:44

<Brutus> Looks like a LOD :)

<NihabaAshi> 1 only

<intowin> its holding

Covered all ES Short @ 818.50 --> + 4.5 13:46

<NihabaAshi> Exited ER2 Long @ 818.70 --> + 1.7

<Tim_a> short ym 13887 13:51

<intowin> now if I can find a good long entry and ride it back up this will be a banner day 13:57

<Tim_a> covered ym 13882 + 5 13:59

prickley market today 14:02

<Brutus> 09/20/2007 14:03 *DJ OIL FUTURES: Nymex Crude Hits New Intraday Record High Of $83 14:04

10 y and crude in a rally 14:06

Long ES @ 1535 «« paper »» 14:11

exit stop set ES @ 1535 «« paper »» 14:14

Exited 1/2 ES Long @ 1536 --> + 1 «« paper »» 14:18

trgt near ES HOD 14:20

:( 14:22

Exited ES Long @ 1535 --> 0 «« paper »» 14:23

<intowin> they may have shaken me out too soon 14:24

here comes my 14 print.. I guess I still need to work on my patience lol 14:27

if it holds in this area I may be interested in a long

<szubaark_away> Shorts ES @ 1533.25 «« paper »»

<Brutus> Fib levels IT? 14:28

<intowin> I am just looking at the congestion area from post fed a couple days ago

<Brutus> ok

<intowin> this should provide support in this area imo.. Of course its quad witch week who knows.. 14:29

really painful to see a trade go to your target when you bailed +4 to early lol 14:31

gonna try one here 14:33

Long ES @ 814.60

<Brutus> -1200 tick 14:35

<intowin> yeah not looking good

<Brutus> when that strong counter thrust failed, then it need some strong confirmation for me to go long 14:36

<szubaark_away> Covered 1/2 Short ES at 1532 --> + 1.25 «« paper »» 14:45

exit stop moved to breakeven ES @ 1533.25 «« paper »» 14:46

<intowin> Exited all ES Long @ 812.40 --> - 2.2 14:47

<mhk> short 813.70 er2

<szubaark_away> Covered all Short ES at 1531 --> + 2.25 «« paper »» 14:49

<Brutus> nice 1 oysters kilpatrick :) 14:50

<szubaark_away> lol

<NihabaAshi> Shorts ER2 @ 812.20 -> small size 14:52

<mhk> er2 out 1.7+

<NihabaAshi> :(

Covered ER2 Short @ 812.70 --> - 0.5 14:54

Reverse and Enter Long ER2 @ 812.70

<intowin> Long ES @ 1531

try some es

<NihabaAshi> Exited ER2 Long @ 813.10 --> + 0.4 14:57

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 14:58

<NihabaAshi> Shorts ER2 @ 811.60 -> small size 15:01

no fill at 812.20

maybe it tick through before I got my order in :( 15:02

<intowin> Exited all ES Long @ 1530 --> - 1

<NihabaAshi> Covered ER2 Short @ 811.10 --> + 0.5 15:03

WRB Analysis

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<intowin> looks like they found the bottom for today 15:15

took a quick er long on the fast climb for up +1. Got some running to do so I will c u guys tommorow 15:19

* intowin is now known as intowin-away

<eminitrader> hope u all made some moolah today...nice pa 15:34

<Brutus> nah everyone was complaining about chop :)) 15:35

and crappy price action!

<eminitrader> looks like short and hold was the stoty of the day

<Tim_a> i did ok, but i had to tug hard for every penny

<eminitrader> i had a good trade ..sold 1541 - buy 1/3 1538, 1/3 - 1536 and remainder @ 1531 15:36

and was a 10 lot..:(( shld have had a larger size 15:37

specially after the daily chart indicated a down day today

<Brutus> good one e

<eminitrader> thx B ... 15:38

this month has been very good to me :)

will reduce size ..remainder of the month..

<intowin-away> yep good day E.. your short signal this am was confirmation for me.. Went short er2 at 823 and held most of the day 15:39

<Tim_a> what gave you the cue on the daily chart, e? was it the tail on top?

<intowin-away> has chat been messing up your charts? 15:40

<eminitrader> simply it was a neutral bar....which means indecision in the instrument ..

and with the other indicators showing a pull back and ES not reaching my res level showed a strong down movw was coming.. 15:41

<intowin-away> It felt good when there was very little pop on the philly feds way better than expected numbers. I knew then to hold

<eminitrader> was looking to actaully short the 46 -48 area..that was my key res level 15:42

<Tim_a> how does today look? does it look like it needs a pullback before at could attempt a challange to the old high?

<eminitrader> no itw ...just got myselp a viop ...looks like i gotto play with my bandwith now

<Tim_a> (SPX) 15:43

<intowin-away> was wondering why you were out?

<eminitrader> no tim res on sp was 1532 ...es was 46 area

<intowin-away> quad witch and friday should be interesting 15:44

<eminitrader> yep 15:45

<intowin-away> got side tract have to leave now for real.. Cu in morn

<Tim_a> 1532 being july 23rd support? 15:47

<eminitrader> yep

<Tim_a> any thoughts on the big picture, or do you let the charts tell you day by day? 15:50

<eminitrader> yes tim...being a day trader...but i take into account the daily formations to get an idea of how pa might behave the following day 15:51

<Tim_a> i used to look at something like where we are, and determine whehter it meant continuation of bull, o rnew bear - but i'd get it wrong and the bias would kill me with clues right before my eyes 15:53

<eminitrader> well ...most of the time i wait for the short term charts to fall in line with the daily before i confirm the daily chart bias... 15:55

its like a trend within a trend ...medium term vs short term....helps with giving nice entries /exits for scalping 15:56

<Brutus> most pros look at the hourly chart for determination of trend Tim (as fas as I know) 15:57

<Tim_a> in the big picture, it is still stumbling with the y 2000 high, interesting the fed tried to 'goose' the mkt at this level 15:59

i've never seen them do it at a peak before 16:00

<Brutus> ============ U.S. MARKETS ACTION =========== 16:04

DJIA down 41.22 points to 13774.34

NASDAQ down 9.03 points to 2657.45

S&P 500 down 8.40 points to 1520.63

10-year T-note down 1 9/32 at 100 12/32 yield 4.704

NYMEX Spot Crude up $1.39 at $80.32/bbl at close.

Dollar/Euro up 0.0109 at 1.4608

http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={5c000 6e8-c137-4e55-bd6f-644e737d3420}

<werner> gn all 16:06

* sep34 is now known as sep34_away 16:28

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 16:58

<NihabaAshi> Take care all and see all tomorrow :) 17:16

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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 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

Last of all, if you have any questions about any of the above commentary, specific trades et cetera...

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