#FuturesTrades October 23rd 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.
ER2 EuroFX EC +10.30 +0.0000 $1,030.00 $0.00
FOMC Announcement Reaction and Trend Days
There's a lot of talk about why the market is strong so far for the month of October.
First of all, this is the norm for October and there's many factors such as elections, fomc, dow making new highs, oil market, easing of inflation worries et cetera.
You name it and I'm sure there's someone out saying its that particular reason that the market is currently doing what it is doing.
The real question is this...are you listening and exploiting what you are hearing.
Read all the past #FuturesTrades logs for hints and tips about the market to see if you truly are applying what you here.
Here's another trading tip...there's a strong chance of a trend day within three trading days after the FOMC Announcement.
If your wondering which direction...make sure your in #FuturesTrades when I post my realtime trades.
To join #FuturesTrades...click here.
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)
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: Mon Oct 23 09:33:47 2006Session Ident: #futurestrades * Now #FuturesTrades purpose and benefits...click here. 09:33 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <pat255> gm all... 09:36 @office again ...sigh <NihabaAshi> Long ER2 @ 763.00 09:40 3 coantracts only 09:41 We have no key market events today... 09:43 May get a second chance here after the initial trade error. 09:44 <ItalianSharp> niha did you see that spike on Sunday? what caused it? <NihabaAshi> Not sure but I'm hoping it has setup some nice trades for the Open. 09:45 <ItalianSharp> looked like a sort of stop hunting spike to me 09:46 <szubaark> my IB platform clock is off 2 minutes from my desktop clock <NihabaAshi> Exited 1/3 ER2 Long @ 765.10 --> + 2.1 09:47 Trading Edge: If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading and swing trading with a money back guaranteed policy...click here. Trading Strategies -> These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: Emini Index Futures (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), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI) <szubaark> Buys NQ @ 1719.50 «« paper »» <NihabaAshi> Exited 1/3 ER2 Long @ 765.30 --> + 2.3 09:48 <jperl> Don't think the IB clock is independent of PC clock Szu..... When I reset PC clock....IB clock changes too <szubaark> Exited all Long NQ at 1720.75 --> + 1.25 «« paper »» 09:54 <eminitrader> Shorts ES @ 1374.50 09:58 Covered all ES Short @ 1375.25 --> - 0.75 10:00 <ItalianSharp> niha, i guess this is the famous trend day you talked about last week...you said it was gonna happen either friday or monday...here we go... 10:13 <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> Exited Remainder ER2 Long @ 768.10 --> + 5.1 <PapaJon> nice niha 10:14 <szubaark> Go Niha! <eminitrader> :))))))) good one n <pat255> vn niha ... 10:20 <NihabaAshi> We had some easy guidelines to hold Longs...the S/R Zone of that incredible overnight price spike. 10:24 For ER2 that S/R Zone is 766.30 - 773.80 based upon the 2min chart. 10:25 <szubaark> what time was that spike? 10:27 was it just on russell? i dont see spike on NQ <NihabaAshi> All the Eminis...around 6:22pm est 10:28 <jperl> NQ HOD=1747.75 <NihabaAshi> I gave some hints about what I was going to do this morning... 10:29 http://www.elitetrader.com/vb/showthread .php?s=fa9d4490a81f82666573a0b21234c09c& threadid=79214&perpage=6&pagenumber=3 <szubaark> weird No Spike on Asian markets just eminis 10:32 Looks like a at night while everyone sleeping Stop cleaning expidition 10:33 <NihabaAshi> szu...when you get a chance...look at the past years when there's an Election. 10:34 You'll see some weird price action (volatility spikes) in the overnight trading sessions. <szubaark> Niha actually, your "Seasonal Tendencies" had me looking at Daily charts last 5 years at Oct-Nov and i did see Bullish tendencies 10:35 <ItalianSharp> niha, what do US elections have to do with wild volatility spikes on Sunday? speculation? 10:36 <NihabaAshi> Once you can figure out what days the tendencies will occur on... The hardest part is to get an entry on the "intraday chart". Meant...trying to find the right spot without having the stop hit for a loss to only then see the trade go into the direction of the tendency...same direction as your trade was before it was rudely "pick pocketed". 10:37 :( 10:38 <pat255> L 770.2 10:39 <szubaark> Niha on my Long i was waiting for a WRB spike to upside.. but candles started showing wicks plus had some reisstance above 10:41 <pat255> stopped b/e ....:( 10:43 dang came back.... 10:48 <szubaark> pat if i was u just starting out i would Stay Away from ER.. its Viscious instrument for unexperienced.. ES,YM,NQ are "better" 10:50 <pat255> szu u are right but now i follow er most of the time ... 10:51 but may switch to es .. <NihabaAshi> Shorts ER2 @ 771.70 -> small size 11:10 1 contract only Not looking for much...just a few ticks...its a high risk trade. 11:11 <pat255> k guys c u all later ...back to work ...ty 11:15 <NihabaAshi> Covered ER2 Short @ 771.30 --> + 0.4 11:18 Sponsor: As traders we must treat our trading like a business if we are to succeed as traders and as a business. Therefore, waiting till the last few weeks March to prepare for April's taxes is not good for your trading and could put extra stress on your trading during tax month or the months that follow if your one of those traders that filed an extension.. Therefore, its best to be on top of your taxes throughout the year and Traders Accounting is a great resource for such especially if you want to prevent penalties or an audit several years from now. <les> Shorts ER2 @ 771.3 «« paper »» live Covered 1/2 ER2 Short @ 770.8 --> + 0.5 11:19 <NihabaAshi> Shorts ER2 @ 770.90 -> small size 1 contract only Volatility spike pending... 11:21 I don't want to be in a trade when it appears. Covered ER2 Short @ 770.40 --> + 0.5 11:22 <les> exit stop lowered ER2 @ 771.2 11:24 <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) 11:25 <les> Covered Remainder ER2 Short @ 769.7 --> + 1.6 11:26 <NihabaAshi> Great patience les. <les> thx niha <jperl> Well....I didn't have a good morning.... 11:40 http://charts.dacharts.com/2006-10-23/JP ERL_014.png I had one good NQ trade early on, but then I had an ER2 short trade at 10:00 which was clearly a mistake.... 11:41 Spent the rest of the morning fiquring how to get out of it without a major loss.... 11:42 as a consequence, I missed some other good ER2 trades <szubaark> Buys NQ @ 1740.25 «« paper »» 11:53 Exited all Long NQ at 1743 --> + 2.75 «« paper »» 12:09 <les> Shorts ER2 @ 770.2 12:32 <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) 12:37 <les> Covered all ER2 Short @ 769.8 --> + 0.4 12:41 <Chilly> nice exit .. tricky spot here 12:42 <les> chilly thx, but actually was an incorrect entry 12:44 so i'm lucky to get awaywith it 12:45 <Chilly> :) <les> szu said earlier that er2 is a very unforgiving mkt 12:46 he was right about that <Chilly> I've learned that the hard way since taking the contract on 12:47 <NihabaAshi> ER2 will expose whatever "weakness" we may have. Simply, we are either forced to fix the weakness or move on to a different trading instrument. 12:48 <les> its such a little isnt it niha :) 12:49 scratch that meant: Its such a little joy, isnt it, niha? <NihabaAshi> :) <Chilly> ER has helped my self awareness ... confirms what I suspected were indeed weaknesses .. trial by fire sometimes though :) 12:52 <les> more fire than trial mostly breaktime here cya later on * les is now known as lesAway 12:53 <Chilly> Jperl .. are you around for a VWAP quote ... just curious 12:55 <jperl> ER2 VWAP=768.04 <Chilly> aha thanks <jperl> NQ VWAP=1735.56 12:56 <Chilly> right at ER pivot <jperl> Whats' your charting program Chilly
Mentally getting away from trading is much harder to do in comparison to physically getting away from trading when its time for some rest and relaxation. Personally, one of my favorite ways to mentally rest is to watch movies I've copy & recorded from the local video store via my Slysoft software that copies any copyright protected dvd's and cd's. <Chilly> use one called Amigo ... have PP = 768.03333 12:57 by the way .. I need a new charting program that works with Esiganl by end of year ... any recommendations out there? 12:58 <jperl> Amigo handles Esignal 12:59 <Chilly> correct 13:00 all I heard this morning from the talking heads was predictions on how far the market was going to pullback since it was oversold 13:07 but I guess the days not over yet :) 13:08 sorry overbought 13:09 <X> 13:46 <jperl> NQ at VWAP 1735.91 13:48 <Chilly> nice bounce off support heading into final hour 14:53 <X> 14:58 <cervenca> ER2 is near vwap YM is way above it 15:11 <yo> gn all 15:24 <NihabaAshi> #FuturesTrades chat logs are posted at http://www.thestrategylab.com/RecentTrad es.htm and the today's chat will be posted tonight by 9pm est. 15:55 <Chilly> gn all 15:58 <X> 16:07 * NihabaAshi is now known as NihabaAshi_away 16:40 * DisconnectedSession Close: Mon Oct 23 17:28:30 2006 17:28 Sponsor:
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.
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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...
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M.A. Perry and Associates
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