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#FuturesTrades October 16th Monday 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, trades 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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Trading Perspective

Profit/Loss Blotter

Today I took it easy, try some new stuff with my trades after the first trade.

However, although I've been preaching that I'm going to go larger for my position size on my Long positions in comparison to the position size of my Short positions.

Yet, today I saw a tight range with low volatility that has gotten me into some trouble in the recent past when I didn't scale down my position size.

Today, I did scale down my size and both trades were losers.

Further, the next winner (when volatility was rising) I had gone back to my normal size and caught a good trade.

Doing such allowed me to close the day profitable even though my Longs had the bigger losers...

Position Size Management.

In fact, I'm not going to up my position size until Friday.

In addition, read my comments in the below chat log about why I'm increasing my position size beginning Friday.

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 October...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.

Today's Music:
Willie and Lobo

Today I listen to Willie and Lobo for about 30mins prior to the open, during slow price action (mainly mid-afternoon) and for about an hour after my trading day is complete to help bring the emotional aspects of trading back to equilibrium. To see my entire music selection, reviews and accessories that helps me to re-energize and prepare for the next trading day...click here.

Session Start: Mon Oct 16 09:34:13 2006Session Ident: #futurestrades

* Now #FuturesTrades purpose and benefits...click here. 09:34

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

<eminitrader> Long ES @ 1371.75

<PapaJon> gm all 09:35

<NihabaAshi> I got data problems again with ER2...other Eminis working just fine. 09:36

Weird :(

<les> how was your trip, niha?

<NihabaAshi> It wasn't a trip...it was a funeral

<les> yes, meant that 09:37

<NihabaAshi> Not good.

<les> :(

<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) 09:48

<les> Long ER2 @ 767.9

Exited 1/2 ER2 Long @ 768.3 --> + 0.4 09:49

<jperl> Candy stripe morning.... 09:50

http://charts.dacharts.com/2006-10-16/JP ERL_011.png

<eminitrader> Exited 1/2 ES Long @ 1373.75 --> + 2 09:51

<les> Exited Remainder ER2 Long @ 769.8 --> + 1.9

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<eminitrader> nice start les :) 09:52

<les> thx em :)

<szubaark> nice les,emini

<eminitrader> thx szu

entry was based on 50% retrace of friday's move and in confluence with globex lows 09:56

oops ...wrong room

someone asked my entry criteria for this trade guys 09:57

yep 10:00

<pat255> gm all... 10:02

amazing run in this mkt 10:06

<eminitrader> Exited 1/3 ES Long @ 1373.25 --> + 1.5

<szubaark> yup..looks like same crap opening we had last 4 weeks then they just ran it up in a tight channel

Buys NQ @ 1743.75 «« paper »» 10:09

<pat255> no p/b... 10:11

am p/b was it ...no more

<szubaark> no pullbacks just straight up in tight channel..im ignoring any sell signals, they are worthless in this market now 10:12

<les> seems to me, that apart from ym... 10:16

everything else is hell-bent on a headlong dash for the April/May highs 10:17

<szubaark> exit stop set NQ @ 1744 «« paper »»

<les> seems to much too quick, gotta be a restest of lows before then

<szubaark> les just get Long and hold on! lol 10:18

<les> today maybe

but i alos got my sights on the wrb's with hidden gaps lower down on er2 10:19

<szubaark> Niha not trading this am? 10:20

Exited all Long NQ at 1744 --> + 0.25 «« paper »» 10:21

too tight of a up channel again 10:22

<les> niha has some data probs 10:25

szu

<eminitrader> Exited Remainder ES Long @ 1314.50 --> - 57.25 10:27

<les> another of yr wipeout ones em?

<eminitrader> Exited Remainder ES Long @ 1374.50 --> + 2.75

<les> nice one

<eminitrader> thats better

thx les

<jperl> We have a 22 tick spread in the standard deviation for ER2 and it is only 10:30 10:28

Usually doesn't happen until the end of the day

<NihabaAshi> [10:20] <szubaark> Niha not trading this am? 10:29

Nothing to trade...Long signal was several days ago...

<eminitrader> lol

<NihabaAshi> Today is just bullish continuation price action.

On low volatility :(

Will see more like today as we approach the end of October going into November. 10:30

<eminitrader> true niha...wonder how long this type of pa will continue

<NihabaAshi> Hopefully there's a few parabolic down days to allow for a good Long swing trade setup.

<szubaark> Buys NQ @ 1744.50 «« paper »» 10:31

<les> Shorts ER2 @ 772.9 10:34

<NihabaAshi> Shorts ER2 @ 773.00 -> small size 10:36

Not looking for much considering I'm very bullish.

<les> Covered 1/2 ER2 Short @ 772.4 --> + 0.5 10:37

<NihabaAshi> Covered all ER2 Short @ 772.30 --> + 0.7

<pat255> guys biab ...@office ..ty 10:40

<NihabaAshi> Key Reminder: Bernanke is speaking today, Tuesday and Wednesday. 10:49

<les> Covered Remainder ER2 Short @ 771.8 --> + 1.1

<asuni> at what time today?

<NihabaAshi> I think 1:30pm est

Yep...just looked...its 1:30pm est 10:50

<asuni> thks

<NihabaAshi> Will expect some volatility or crazy price action beginning around 1pm est. 10:51

Also, expect either Friday Oct 20th, Monday Oct 23rd or Tuesday Oct 24th to be a strong trend day due to the pending Wednesday Oct 25th FOMC Annoucement. 10:53

I'm going to be doing some size on those particular trading days.

<asuni> and in this period u still have long bias correct?

<NihabaAshi> Yes 10:54

Yet, can only execute that Long bias as a trade with some size only after there's an intraday High that's followed by a new intraday low. 10:55

<szubaark> Niha whats the reason (psychology) behind that? 10:56

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<NihabaAshi> I got tired of buying the breakouts to only be shaken easily out of the trade to then see it power upwards higher. :) 10:57

Nothing worst than "Knowing" the direction, taking the trade...

Then see the stop hit...it reverses and moves higher.

Tough mind game when that happens too many times in October and November. 10:58

<asuni> it seems bernanke will speak at 1200 too 10:59

Federal Reserve Chairman Ben Bernanke , Governor Susan Schmidt Bies to speak at the American Bankers Association annual convention, in Phoenix, Arizona.

<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) 11:00

<deepitm> Long YM @ 12009 11:02

Exited 1/3 YM Long @ 12020 --> + 11 11:32

<szubaark> NQ at 1742 last hour and a half :((

<les> its gone to a shuddering halt with an early chop today 11:34

prob dues to speeches coming up

<szubaark> 7th test of 1742 on NQ finnaly gave a WRB tp upside LOL 11:39

<deepitm> Exited 1/3 YM Long @ 12026 --> + 17 11:40

<les> nice one ditm 11:43

<deepitm> thans, it's about time one went my way ;) trying to be more patient and wait for my setups 11:44

<les> usually pasy off :)

pays

taking a break..

i think this action likely to remain poor for a while 11:45

* les is now known as lesAway

<NihabaAshi> Agree...be back later around 1pn est.

* NihabaAshi is now known as NihabaAshi_away

<deepitm> Exited 1/3 YM Long @ 12020 --> + 11 11:50

<szubaark> exit stop set NQ @ 1741.50 «« paper »» 11:51

<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) 12:09

<szubaark> Exited all Long NQ at 1741.50 --> - 3 «« paper »» 12:16

basitds got my Stop 12:17

* szubaark is now known as szubaark_away

<eminitrader> Shorts ES @ 1374 12:21

Covered all ES Short @ 1375.25 --> - 1.25 13:17

<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) 13:21

* NihabaAshi_away is now known as NihabaAshi 13:24

<NihabaAshi> Long ER2 @ 774.80 -> small size 13:30

Tried something new...doesn't look good after the fact :( 13:32

ER2 volatility dropping...expecting a volatility spike...hopefully my way. 13:36

<pdays> Shorts ER2 @ 774.5 13:40

<NihabaAshi> Volatility had drop...than rose without any volatility spikes and now its dropping again :( 13:47

I didn't feel any resistance all day... 13:51

I'm feeling it now :(

<eminitrader> bug boys back from lunch ..?

bug=big

<pdays> Covered all ER2 Short @ 774.4 --> + 0.1

<NihabaAshi> Exited ER2 Long @ 773.60 --> - 1.2 14:06

Reverse and Enter Short ER2 @ 773.60

<szubaark_away> Buys NQ @ 1743.25 «« paper »» 14:11

<deepitm> Long YM @ 12031 14:15

<szubaark_away> exit stop set NQ @ 1743.25 «« paper »» 14:16

<NihabaAshi> I still feel that resistance. 14:17

<szubaark_away> Exited all Long NQ at 1743.25 --> 0 «« paper »» 14:18

:((

Buys NQ @ 1743.50 «« paper »» 14:24

<eminitrader> Long ES @ 1376.25 14:25

<szubaark_away> Ordering piling up here before next quick, sudden Volatility spike 14:26

<eminitrader> yep...NQ @ supp ...if 1741 breaks ES may tank a bit 14:27

<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

<szubaark_away> Exited all Long NQ at 1743.50 --> 0 «« paper »» 14:40

have to leave for day :((

<eminitrader> Exited ES Long @ 1376.25 --> 0 14:44

Reverse and Enter Short ES @ 1376.25

<NihabaAshi> Covered all ER2 Short @ 774.70 --> - 1.1 14:47

<deepitm> Every time I think about closing out my long YM the market ticks up just enough to keep me in the trade

<NihabaAshi> Shorts ER2 @ 774.10 14:48

<deepitm> keep me at break even that is - yet it seems that the YM wants to roll over 14:49

<NihabaAshi> I want to go Long with some size...just not seeing any opportunities for such just yet. 14:51

Covered 1/3 ER2 Short @ 773.10 --> + 1 14:56

<deepitm> Exited all YM Long @ 12029 --> - 2

<jperl> ER2 at VWAP 772.40

<NihabaAshi> Covered 1/3 ER2 Short @ 772.80 --> + 1.3

<deepitm> I wimped out 14:57

<eminitrader> why is the vol so low today....looks like the big traders/institutions r not participating today...doesn;t look good for the mrkts...anycomments 14:59

<NihabaAshi> No key economic events and the Bernanke speech is a bust because he's being extremely careful with his words. 15:00

<eminitrader> if mrkt is waiting for economic news to move , then a good chance of a pullback on some negitive data ...thinkso niha 15:02

<NihabaAshi> Not sure but if the pullback is deep enough (new intraday low)... 15:03

I'm going to load up on the Longs.

<eminitrader> could give a good entry to the long dise :)

<NihabaAshi> For day trades and will do a 1 contract for swing trade.

<eminitrader> thx for ur inputs 15:04

<NihabaAshi> Covered Remainder ER2 Short @ 774.00 --> + 0.1 15:12

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<deepitm> Couldn't have hung on to my YM long position could I? Noooo 15:15

<NihabaAshi> I'm done for the day...last trade was a needed profit and a lucky trade. 15:16

Tried a few new stuff today...didn't work out but kept everything under control. 15:17

<deepitm> Control is good :) 15:18

Niha, may I ask what trading platform/broker you use? I trade equity options with Optionsxpress and the recently added futures. This has allowed me to get my feet wet in futures without opening a new account - but there platform is really not meant for futures. 15:20

<eminitrader> Covered all ES Short @ 1376.75 --> - 0.5 15:21

<NihabaAshi> deepitm...I'll send you a pm...

<deepitm> Thanks 15:22

<jperl> done for the day.....here are todays trade details for ER2...

http://charts.dacharts.com/2006-10-16/JP ERL_012.png

* lesAway is now known as les 15:36

<NihabaAshi> I'm done for the day...take care all. 15:42

* NihabaAshi is now known as NihabaAshi_away 15:43

<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) 15:45

* DisconnectedSession Close: Mon Oct 16 16:21:17 2006 16:21

Sponsor:
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I don't always trade nor monitor the market from my home office. Sometimes I'll do such from one of my favorite nearby Wi-Fi hotspot or whenever I'm traveling via using this little Wi-Fi detection gadget I got from Think Geek that will show more than just the presence of any nearby signal and its signal strength. It has a 12-character LCD that provides information on signal availability and strength as well as essential network information, including SSID, security status and channel. When multiple networks are present the LCD me to scroll through information for each network.

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 ES, NQ and ER2

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

Hang Seng Index Futures HSI

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.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

questions@thestrategylab.com

"The point of this whole exercise is to make money. Everything else is just conversation." --Jonathan Hoenig

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