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#FuturesTrades November 6th Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+9.50	+113.50	+3191.40
$950	$11,350	$319,140

Profitable Trade

1021am - 1027am est

Losing Trade

1044am - 1047am est

click on image to view actual size

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

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.

There is some subjectivity involved with some of my trades when I'm developing a new strategy (hence the name TheStrategyLab.com) that uses 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 (ex. Oil and Gold), 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 so that I'll have a better understanding of ER2 price action.

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: Tue Nov 06 09:32:11 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:32

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

<Nesi> Shorts YM @ 13613 «« Scalp »»

<NihabaAshi> Good morning all

<Nesi> hi N

<ripsboy> gm all..

<Nesi> Shorts YM @ 13624 -> Add «« Scalp »» 09:33

<eminitrader> Shorts ES @ 1515.50

<pat255> gm all.. 09:34

late ..

<eminitrader> Covered all ES Short @ 1515.50 --> 0 09:35

<werner> gm all

<Nesi> HI

<werner> hi nesi 09:36

<Bambam-77> 17.75 is a vpoc on market profile and pos trgt by 10:20am or sooner 09:37

<Nesi> Covered all ER2 Short @ 793.60 --> + 25649.8 «« Scalp »»

looks like my script its messed up 09:38

<Bambam-77> using 13 as ss trigger

<eminitrader> Shorts ES @ 1515

<Bambam-77> scalping ss 09:39

<eminitrader> Covered 2/3 ES Short @ 1513 --> + 2 09:40

Covered Remainder ES Short @ 1515 --> 0 09:41

<Bambam-77> protect longs

13 held nicely 09:42

17.75 area is my pos trgt area

<Nesi> Covered YM Short @ 13618 --> - 5 «« Scalp »»

Reverse and Enter Long YM @ 13618 «« Scalp »»

<eminitrader> Long ES @ 15114 09:43

oops

Long ES @ 1514 09:44

Exited 1/2 ES Long @ 1515 --> + 1

Exited Remainder ES Long @ 1514 --> 0 09:45

<Nesi> Bush on tv

<eminitrader> missed a sell:(

<Bambam-77> ss 13 stp 14.75 09:46

<szubaark> yeah u got to be quick this morning, too fast for me so far 09:47

<Nesi> Exited all YM Long @ 13605 --> - 13 «« Scalp »» 09:48

<eminitrader> Shorts ES @ 1513.50

Shorts ES @ 1514.50 -> Add 09:49

now hld 10 09:50

avg 1514

<Nesi> Long ER2 @ 792.80 «« Scalp »»

<szubaark> Shorts ES @ 1513.25 «« paper »»

exit stop set ES @ 1515.75 «« paper »» 09:51

<Bambam-77> t1 hit @ 11.50 09:54

<eminitrader> Covered 1/2 ES Short @ 1512 --> + 2.5 09:55

<Nesi> nice

Trading Edge:
Strategies
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, swing trading, market seasonal tendencies, position size management, intermarket analysis with a money back guaranteed policy...click here.

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 and Intermarket 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)

<eminitrader> missed a fill 1 tick below :(

thx N thats 2 from avg

<Nesi> Long ER2 @ 791.1 -> Add «« Scalp »» 09:56

<szubaark> i want 1511.25

<eminitrader> Covered Remainder ES Short @ 1513 --> + 0.5

<Nesi> Bush Done

<eminitrader> Shorts ES @ 1514 09:57

Covered ES Short @ 1514.50 --> - 0.5 09:58

Reverse and Enter Long ES @ 1514.50

<Bambam-77> 17.50 trgt is now in our sites again

<eminitrader> i wld syy 1525-1530 10:01

<szubaark> Covered all Short ES at 1515.75 --> - 2.5 «« paper »» 10:02

<eminitrader> Exited 1/2 ES Long @ 1516.50 --> + 2

thats actuall 1/3 ...partiall fill :( 10:03

<Bambam-77> 15 min to cycle pivot and trgt

<eminitrader> Long ES @ 1514.50 -> Add 10:04

hld 10

<GoodMood> bush still speaking ?

<eminitrader> ..pa indicating a high probability of a creeping uptrend till around lunch time 10:05

<GoodMood> pa = ?

<Nesi> Exited all ER2 Long @ 792 --> + 0.1 «« Scalp »»

<eminitrader> change in flow only when the day low 1511.50 is voilated

price action 10:07

exit stop raised ES @ 1514 10:08

<Nesi> Shorts ER2 @ 792.10 «« Scalp »» 10:10

<werner> again ts dead here

working now 10:11

<eminitrader> Exited all ES Long @ 1514 --> - 1

thats -0.5

Long ES @ 1514 10:12

5 lot

if the low is taken out in the next 5 bars ( 3 min ) then high probability of gap fill...if high taken outt...high probality of uptrend till around lunch 10:16

in summarry the way the mrkt wants to flow is going to be decided soon 10:17

<szubaark> good stuff emini

<eminitrader> my ref is to the ES only 10:18

<Nesi> oil pretty soon in 98 area today..imho 10:19

<eminitrader> Exited 2/3 ES Long @ 1515 --> + 1 10:20

hld 2

<szubaark> Shorts ES @ 1514 «« paper »»

<Nesi> oil taking high 10:21

<eminitrader> Exited Remainder ES Long @ 1513 --> - 1

<NihabaAshi> Shorts ER2 @ 791.30 -> large size

NQ coughed first :)

<szubaark> :)

<NihabaAshi> That's a big Dark WRB... 10:22

If price drops further, that's a lot of downside pressure.

<szubaark> ES gap fill also lurking 10:23

Covered 1/2 Short ES at 1511.50 --> + 2.5 «« paper »» 10:24

exit stop moved to breakeven ES @ 1514 «« paper »»

<eminitrader> now a high probability of gap fill

<NihabaAshi> Covered 2/3 ER2 Short @ 789.90 --> + 1.4 10:26

Covered Remainder ER2 Short @ 791.00 --> + 0.3 10:27

volatility contracting 10:30

<eminitrader> Long ES @ 1511.50 10:31

see somme supp here ...shld be good for a quick scalp

Exited all ES Long @ 1511 --> - 0.5 10:32

<szubaark> Volatility expanding to downside again 10:33

<NihabaAshi> Long ER2 @ 789.00 -> small size 10:34

<eminitrader> over all flow is towards the gap szu...like a magnet...evertything else is noise

<NihabaAshi> trying something new here

<eminitrader> flow may change once the gap is filled ...but as of now..thats the direction 10:35

<NihabaAshi> not looking too hot right now

<szubaark> Volatility increasing to the downside

<NihabaAshi> Exited ER2 Long @ 788.60 --> - 0.4 10:36

Reverse and Enter Short ER2 @ 788.60

Covered ER2 Short @ 789.40 --> - 0.8

That little experiment was a disaster :( 10:37

<szubaark> Niha that trade was unlike you :) 10:38

<NihabaAshi> Long ER2 @ 790.00 -> small size 10:39

Exited ER2 Long @ 789.10 --> - 0.9 10:42

<eminitrader> ES supp area 1506.50 - 1508.50

even if es breks thru this to fill the gap ...this support area still holds

<NihabaAshi> Long ER2 @ 789.90 -> medium size 10:44

ooops... 10:45

that's a 788.90

Long ER2 @ 788.90 -> medium size 10:46

My first pt area is 789.90

Exited all ER2 Long @ 789.90 --> + 1 10:47

Exited all ER2 Long @ 787.90 --> - 1

<Brutus> 1340 Fed Chairman Bernanke addresses microfinance summit in San Antonio, Texas 10:48

<szubaark> Covered all Short ES at 1506.75 --> + 7.25 «« paper »» 10:49

<NihabaAshi> Long ER2 @ 787.20 -> medium size 10:50

Trade not looking good again :( 10:51

<eminitrader> Long ES @ 1505.50

<Pepe> :((( 10:52

<NihabaAshi> Exited ER2 Long @ 786.60 --> - 0.6

Reverse and Enter Short ER2 @ 786.60

volatility just changed again :( 10:53

<szubaark> Buys ES @ 1505.50 «« paper »» 10:54

<NihabaAshi> volatility contracting again 10:55

<pdays> Shorts ER2 @ 786.8 10:56

wrong 10:57

Long ER2 @ 786.8

<NihabaAshi> :( 10:58

<pdays> Long ER2 @ 786.5 -> Add

<szubaark> expecting Volatility spike soon

<NihabaAshi> Covered all ER2 Short @ 786.90 --> - 0.3

Long ER2 @ 787.40 -> medium size 10:59

<Brutus> 11/06/2007 10:50 *DJ OIL FUTURES: Nymex Crude Touches $97/Bbl, Up $3.02 11:00

<szubaark> Exited 1/2 Long ES at 1506.75 --> + 1.25 «« paper »» 11:02

<eminitrader> Exited 1/2 ES Long @ 1507.50 --> + 2

<NihabaAshi> Exited all ER2 Long @ 788.50 --> + 1.1 11:03

back in the green again...still trying new stuff. 11:04

<pdays> Exited all ER2 Long @ 788.3 --> + 3.3 11:05

<NihabaAshi> Long ER2 @ 788.40 -> medium size 11:06

volatility contracting 11:08

<eminitrader> Exited 1/3 ES Long @ 1508.75 --> + 3.25 11:10

<szubaark> Exited all Long ES at 1508.50 --> + 3 «« paper »»

<NihabaAshi> Exited all ER2 Long @ 788.50 --> + 0.1 11:12

volatility contracting 11:15

<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) 11:16

<eminitrader> exit stop moved to breakeven ES @ 1506.50

Exited Remainder ES Long @ 1508.50 --> + 3 11:20

<NihabaAshi> Long ER2 @ 789.00 -> medium size 11:22

volatility contracting big time now...

I'm expecting a volatility spike here soon.

Hopefully the spike takes price up and not down.

Exited all ER2 Long @ 788.80 --> - 0.2 11:27

<eminitrader> Long ES @ 1508.50 11:28

<NihabaAshi> Long ER2 @ 788.80 -> medium size

<pat255> hi stowe..

<eminitrader> Exited all ES Long @ 1509 --> + 0.5 11:29

good trading all

<NihabaAshi> Exited all ER2 Long @ 789.00 --> + 0.2 11:33

Long ER2 @ 788.40 -> medium size

Exited all ER2 Long @ 788.50 --> + 0.1 11:40

next entry level is around 788.00 11:41

<Nesi> THX

<pat255> just chop here now ...

<NihabaAshi> volatility spike 11:42

<pat255> dang look at that drop

<NihabaAshi> volatility contracting 11:44

<szubaark> hi pat 11:46

<pat255> hi szu 11:47

<szubaark> Shorts ES @ 1507 «« paper »»

expecting volatility spike, hopefully to the downside, im Short 11:48

<Stowe> gm pat 11:49

as he says belately

<szubaark> Volatility still contracting 11:50

Covered all Short ES at 1507 --> 0 «« paper »»

:(

* Stowe long ym 13555 11:51

<teresa> B ES 1507

<szubaark> Chop

* Stowe adds to long ym 13550 11:52

adds to long ym 13554

<NihabaAshi> Long ER2 @ 787.30 -> medium size

Long ER2 @ 788.00 -> Add 11:53

<teresa> ES half off 1509 +2

<pat255> what the hell was that ..

<Stowe> maybe news

<Brutus> gs comments

<teresa> ES 1/4 more off 1510 +3 11:54

<Stowe> like they wanted to ....ahhh....ramp it

<NihabaAshi> It should exhaust itself here soon :(

<szubaark> Shorts ES @ 1509.50 «« paper »»

<NihabaAshi> If not...it's be my "LUCK" trade of the day. 11:55

<Nesi> wow

<NihabaAshi> I just wanted to stay active in the "declining" volatility and keep my fingers crossed a breakout will occr while in a trade.

<Stowe> is that a new system? 11:56

<Guest35179> Shorts ER2 @ 789.3

<teresa> ES out last 1/4 1510.50 +3.5

<pat255> vn t

<szubaark> lets see if this quick pop is just a retrace or more

<teresa> tks pat

<pat255> out o fthe blue pop.. 11:57

<Guest35179> Covered all ER2 Short @ 788.4 --> + 0.9

<Brutus> good job Teresa, Teresa Lo?

<pat255> was thinking L ..but poped

<teresa> not lo

<Brutus> ok :)

<pat255> k guys c u all later back to office ...ty all 11:59

<Stowe> work?

<pat255> y ..

<Stowe> bleah

<pat255> :(

<szubaark> :( 12:00

<Stowe> bad for youre health

<pat255> lol

<NihabaAshi> Exited 1/2 ER2 Long @ 788.10 --> + 0.1

<Brutus> spiked when - Goldman denies writedown rumours

* Stowe adds to long ym 13564 12:01

adds to long ym 13565

<NihabaAshi> Exited Remainder ER2 Long @ 787.40 --> + 0.1

so far I'm 0 for 9 on the exits :( 12:02

* Stowe adds to long ym 13561

<szubaark> Covered 1/2 Short ES at 1508 --> + 1.5 «« paper »»

exit stop moved to breakeven ES @ 1509.50 «« paper »» 12:03

that White WRB now HALF retraced

* Stowe adds to long ym 13565

<NihabaAshi> back within the s/r zone...

So far, all break away price action has been sucked back down into the mud after climbing half way out. 12:04

<Guest35179> Long ER2 @ 787.2

<szubaark> Niha,Yes.

* Stowe adds to long ym 13564 12:05

<szubaark> Volatility contracting again. 12:06

<NihabaAshi> Long ER2 @ 788.00 -> medium size 12:11

<Guest35179> Exited all ER2 Long @ 788.1 --> + 0.9 12:12

<szubaark> Covered all Short ES at 1509.50 --> 0 «« paper »»

<NihabaAshi> Gold still within that tight trading range... 12:15

<Stowe> ym 13625 seems like a reasonable target

<NihabaAshi> Until it breaks out of it...ER2 is very susceptible of those quick retracements :( 12:16

<Stowe> i asked ym and it seems "receptable" to 13625

<NihabaAshi> Exited all ER2 Long @ 789.10 --> + 1.1

<Guest35179> Shorts ER2 @ 789.2

<NihabaAshi> I actually wanted to keep that trade a little longer but I decided I'll try and reach my profit goal for the day via the next few trades. 12:17

Shorts ER2 @ 789.00 -> medium size 12:18

<Guest35179> Covered all ER2 Short @ 788.9 --> + 0.3

Long ER2 @ 789.5 12:19

<NihabaAshi> Covered all ER2 Short @ 789.80 --> - 0.8 12:20

<szubaark> wow, back to back WRBs's.

<Guest35179> Exited all ER2 Long @ 790 --> + 0.5

<szubaark> Shorts ES @ 1512.75 «« paper »» 12:21

<NihabaAshi> Long ER2 @ 789.90 -> medium size

<Guest35179> Long ER2 @ 789.3

<NihabaAshi> Oil doing its part to try and get more bulls involved...Gold is problematic :( 12:23

<Stowe> why is gold "problematic? 12:24

my wedding band is almost worth what i paid for it

<Guest35179> Exited all ER2 Long @ 789.9 --> + 0.6 12:26

<Stowe> if gold can get to 884 i'm even

<szubaark> Covered 1/2 Short ES at 1511.75 --> + 1 «« paper »» 12:29

exit stop moved to breakeven ES @ 1512.75 «« paper »»

<cmrodrig> nick /cmr 12:34

* cmrodrig is now known as cmr

<Guest35179> Long ER2 @ 788.9 12:35

* cmr is now known as cmrodrig 12:36

* cmrodrig is now known as cmr

<Guest35179> Exited all ER2 Long @ 789.4 --> + 0.5 12:38

<NihabaAshi> Gold still within that range 12:46

<Stowe> trouble is my finger is too fat now

to get my ring off 12:47

<NihabaAshi> More reasons for ER2 to retrace and stay below 790.00 instead of going to the next price level of 791.00 :( 12:48

<Stowe> it used to be that the undertaker would get the jewelry from the body as his payment---sometimes he'd have to cut it off

<Nesi> so for you Niha, if gold goes up ... the ER goes too?

<NihabaAshi> No...if Gold and Oil goes up

Never 1 on 1...I need all the key markets to move in the same direction. 12:49

<Nesi> thanks

<NihabaAshi> Gold is just the one that's slowing everybody down

It had a great first 10mins of directional price movement out of the gate 12:50

Range bound ever since.

volatility spike in Gold by no breakout and a volatility breakout in Oil (nobody on the same page just yet) :( 12:54

<szubaark> Covered all Short ES at 1512.75 --> 0 «« paper »» 12:56

* codehead_afk is now known as codehead

<NihabaAshi> Exited all ER2 Long @ 790.50 --> + 0.6

:( 12:57

Oh well...it was a good try.

<ItalianSharp> we have bernie due up at 1.40pm 13:00

this might explain the chop

<werner> indd IS 13:01

<NihabaAshi> Shorts ER2 @ 790.90 -> small size 13:02

volatility contracting 13:03

volatility spike in Gold...lets see how other markets respond 13:05

Covered ER2 Short @ 791.40 --> - 0.5 13:07

Reverse and Enter Long ER2 @ 791.40

<teresa> SS ES 1514.50 will add at 1516 if needed

<szubaark> so far, even paced volatility bursts..... 13:09

<NihabaAshi> Yeah...if it keeps up like this it should setup decent price movement soon after the FED speech 13:10

<Nesi> looks like oil taking 97 again soon..imo 13:11

<NihabaAshi> Exited all ER2 Long @ 792.10 --> + 0.7

<Nesi> here it comes to take 97 .. coiling big time..imo 13:13

<NihabaAshi> contracting volatility in some key markets

something is going to pop soon

Long ER2 @ 791.70 -> small size 13:15

<Nesi> long oil 96.90 1c

<eminitrader> nice bounce off the the 1506-50-1508.50 support area

<NihabaAshi> fizzle :( 13:16

volatility spike...price downwards

<Nesi> risky guess on my part...feels to me oil coiling to print 97.50 before close..IMHO 13:17

<eminitrader> mrkt showing a upward bias as of now ...

mrkt = es

<teresa> ES half off 1513.50 +1

<NihabaAshi> Market just "creeping along".

<Nesi> oil 97 13:18

<NihabaAshi> Hopefully the FED speech will shake up things

DAX also has contracting volatility 13:19

<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)

<NihabaAshi> It's coiling some more...geeesh. 13:23

The way things are going...that speech is either going to produce a big directional price movement or a confusing chop.

<teresa> ES flat 2nd half b/e 13:24

<Nesi> speech in 15 min?

<teresa> yeah

<NihabaAshi> Yeah...something like that

<Nesi> thanks

<NihabaAshi> Exited all ER2 Long @ 792.00 --> + 0.3 13:25

<Nesi> oil volatility again 13:30

<NihabaAshi> Long ER2 @ 792.30 -> small size 13:35

push you old dog :)

Exited all ER2 Long @ 793.60 --> + 1.3 13:37

<eminitrader> :)

<NihabaAshi> Thank you FED

<Nesi> nice

<NihabaAshi> That gives me my profit goal for the day. 13:38

<marrt> are you the nihabaashi at ET?

<NihabaAshi> The same

<Nesi> and only :) 13:39

<NihabaAshi> Gold, Oil, DAX and others are trying hard to go into a "contracting volatility" price action 13:40

<Brutus> 11/06/2007 13:40 *DJ Bernanke Remarks Don't Address Monetary Policy, Econ Outlook

<NihabaAshi> Reminder -> #FuturesTrades chat room trade posting archived logs are posted @ http://www.thestrategylab.com/RecentTrad es.htm (today's log will be updated tonight by 9pm est) 13:41

* Stowe sells some ym 13625 +70,+70,+70,+75,+75,+75,+71 from 13550 to 13555 longs 13:44

sells more ym 13621 +57,+56,+52 from 13565 to 13561 longs 13:46

sells remaining ym 13617 +52,+51 from 13565 to 13564 longs 13:47

short ym 13623 13:49

<NihabaAshi> #FuturesTrades Purpose -> No gurus, no head traders...your here to document your own trades and thoughts as you traverse from one trade to the next trade because it provides critical information you cannot get from your broker statements (real money or simulator)...use this room as your trade journal. 13:50

* Stowe adds to short ym 13632

adds to short ym 13630 13:51

adds to short ym 13628 13:53

adds to short ym 13635 13:55

adds to short ym 13629 13:56

<NihabaAshi> volatility contracting in ER2 whilt Oil and Gold tries to move higher. 13:57

Shorts ER2 @ 793.30 -> small size 13:59

I got short too late in the volatility spike :( 14:00

<marrt> nihaba what is your trading time frame for example on this current short? 14:01

<NihabaAshi> I'm using the 1min and 2min chart on this trade 14:02

<marrt> so hunting for like 10-20 points?

in ym

or for 1 point in er2? 14:03

<NihabaAshi> I take whatever the market gives...

However, most trades I'm looking for a WRB target

<marrt> what is wrb? 14:04

<NihabaAshi> http://www.thestrategylab.com/WRBAnalysi s.htm

<marrt> ok another ta stuff 14:05

thanks

<NihabaAshi> Yeah...without indicators :) 14:06

shallow WRB right now :(

<marrt> meaning?

more shorts?

;-)

<NihabaAshi> No...I'm already short 14:07

Trying to manage the exit

<marrt> i see

<NihabaAshi> I need a little help from Oil and Gold but doesn't look like I'm going to get it :(

dojis and hammer lines printed 14:09

<eminitrader> be back..limits in long 1512.50 1511 amd 1509.25 1 3 and 1 lots

<NihabaAshi> I don't like this contracting volatility again 14:10

Covered ER2 Short @ 793.90 --> - 0.6 14:11

Reverse and Enter Long ER2 @ 793.90

volatility spike...another late entry into the spike :( 14:12

<eminitrader> cancel limits 14:16

Shorts ES @ 1516 14:17

<NihabaAshi> I got the support now but ER2 not responding :(

<szubaark> Volatility contracting here at High of day 14:18

Whuch way will be the next Volatility spike?

<NihabaAshi> Exited all ER2 Long @ 794.00 --> + 0.1

<marrt> why do you guys use the term volatility ? you guys are trading the underlying not the vol

just wondering...

<szubaark> . 14:19

<eminitrader> looks like it will test 1508-1511 before amove up

<Guest35179> Shorts ER2 @ 794.4

<NihabaAshi> I use it to tell me when a price spike is pending to occur 14:20

Basic supply and demand.

Markets love to spike after contracting volatility.

<Guest35179> Covered all ER2 Short @ 793.4 --> + 1

<NihabaAshi> Shorts ER2 @ 793.40 -> small size 14:21

<eminitrader> Covered 1/2 ES Short @ 1514 --> + 2

<NihabaAshi> volatility spike right now

<szubaark> no followthru though 14:22

<NihabaAshi> yep...it fizzled :(

<szubaark> those are Tough.

As exits have to be determined Immediately and Fast. 14:23

<NihabaAshi> They're not that bad as long as your ready for those crazy retracement spikes :( 14:24

<eminitrader> doesn't have to be that way szu

<NihabaAshi> Covered ER2 Short @ 794.30 --> - 0.9

Reverse and Enter Long ER2 @ 794.30

<eminitrader> Covered ES Short @ 1515.50 --> + 0.5

Reverse and Enter Long ES @ 1515.50

<Guest35179> Shorts ER2 @ 795 14:25

<NihabaAshi> retracement spike

<szubaark> Nice Reversals Guys.

<Guest35179> Covered all ER2 Short @ 794.4 --> + 0.6 14:26

<eminitrader> Exited all ES Long @ 1515 --> - 0.5

<Guest35179> Long ER2 @ 794.3

<eminitrader> Long ES @ 1515 14:28

10 lot

<NihabaAshi> another fizzle :(

<Guest35179> Covered ER2 Short @ 794.6 --> - 0.3

Reverse and Enter Long ER2 @ 794.6

<NihabaAshi> Exited ER2 Long @ 794.40 --> + 0.1

<eminitrader> Exited all ES Long @ 1514.50 --> - 0.5 14:29

<Guest35179> correction that was a short at 794.6-trying to get used to this script

Exited all ER2 Long @ 793.9 --> - 0.7 14:30

hopefull we'll break out of this two point range 14:31

<NihabaAshi> Long ER2 @ 794.60 -> small size 14:33

Gold and Oil coughed first :)

<eminitrader> Shorts ES @ 1515

<NihabaAshi> Hopefully the volatility does'nt contract here.

<eminitrader> Covered ES Short @ 1515 --> 0 14:34

Reverse and Enter Long ES @ 1515

<Guest35179> Long ER2 @ 795.1

<eminitrader> 20 lot for a quick scalp 14:35

<NihabaAshi> 20 lots...wow

I'm only doing 1 contract trades right now.

<eminitrader> see a quick scalp here taking advantage of the volatility

<Guest35179> Exited all ER2 Long @ 795.1 --> 0 14:36

<eminitrader> Exited 1/2 ES Long @ 1515.50 --> + 0.5

<NihabaAshi> Exited ER2 Long @ 794.70 --> + 0.1 14:37

<eminitrader> Exited Remainder ES Long @ 1514.75 --> - 0.25

<Guest35179> Shorts ER2 @ 794.5

<NihabaAshi> another fizzle

<Nesi> all day....right...Niha? 14:38

<eminitrader> Shorts ES @ 1514.50

again 20 lot

<NihabaAshi> Yeah...only had one "easy" runner in the afternoon 14:39

<Nesi> yeah

<eminitrader> Covered all ES Short @ 1514.50 --> 0

<NihabaAshi> I had 6 one tick trailing stops hit today :( 14:40

<eminitrader> my brokers bonanza must be smiling

<Nesi> :)

<eminitrader> Shorts ES @ 1514.50

10 lot

looking more and more like a long here ... 14:41

<Nesi> Niha, you think its a good idea of going long ER off 795 if it goes there with vol?

<eminitrader> will look to reverse

<NihabaAshi> Only if Gold and Oil are following... 14:43

<Nesi> thanks

<NihabaAshi> If not...most likely it'll retrace

<eminitrader> Covered ES Short @ 1514.50 --> 0 14:44

Reverse and Enter Long ES @ 1514.50

will hold some for new highs 14:45

if stop doesn't hit before that 14:46

<Tim_a> ym range is demarked almost perfectly by dojis at 12:35 & 12:50 cst 14:50

<eminitrader> Exited all ES Long @ 1514.50 --> 0

not worth it...came 1 tick near my stop 1413.50 ..and bouncing off 1513.75 14:51

k broke it now

<Guest35179> Covered all ER2 Short @ 793.9 --> + 0.6 14:52

<eminitrader> the thing abt the volatility in this pa is that the mrkt gives lots of opportunities to minimize ur losses if u want to... 14:53

looks like mental stops r working wellin this environment

<Guest35179> Long ER2 @ 794.1

<eminitrader> Long ES @ 1514 14:56

20 lot

looks like the shaking is abt done

<Guest35179> Exited all ER2 Long @ 795.1 --> + 1 14:57

<eminitrader> Exited 1/2 ES Long @ 1515.50 --> + 1.5 14:58

hld 10 for new highs

<Guest35179> finally 15:02

* Stowe covers all ym 13614 +9,+18,+16,+14,+21,+15 from 13623 to 13635 shorts 15:03

<Guest35179> Shorts ER2 @ 795.9 15:04

<eminitrader> Exited Remainder ES Long @ 1515 --> + 1 15:05

<Guest35179> Covered all ER2 Short @ 795 --> + 0.9

Long ER2 @ 794.7

* Stowe long ym 13606 15:06

adds to long ym 13609

<eminitrader> done for the day...good trading all

* Stowe adds to long ym 13610 15:07

adds to long ym 13608

adds to long ym 13611 15:08

adds to long ym 13612

<Stowe> can't catch it fast enough

<Guest35179> Exited all ER2 Long @ 795.5 --> + 0.8

* Stowe adds to long ym 13611 15:09

<Guest35179> gn all

<Stowe> all isn't here 15:10

* Stowe adds to long ym 13615

<Stowe> ym 13651 seems like a reasonable target 15:17

too reasonable 15:18

lets try 13678

<Tim_a> nice entries, stowe

<Stowe> tanks tim 15:19

catchy eh?

<Tim_a> y

<Nesi> very nice, Stowe

<Stowe> blessi nesi

catchy eh?

<Nesi> i played one off 613

sold 644

<Stowe> cool! 15:20

<Nesi> luck i got that top for now...i was waiting there

WRB Analysis

Learn More

<Stowe> don't know how you got 644 tho 15:21

never went there 15:22

<Nesi> i was waiting there

it went..yes

<Stowe> but if you got it...that was a great fill

<Nesi> dunno how to take the pic of the fill

<Stowe> ym high is 643

<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)

<Nesi> i have 644 high

<Stowe> interesting

<werner> 644 here too 15:23

<Stowe> maybe your prices are in euros

<Nesi> 645 should be new high if takes it

<Tim_a> for the box range to play out, it would take the ym up about 70 pts, which coincides with a backtest of the 50 day ma

<Nesi> took the high 15:24

<Tim_a> on the dow

<Stowe> ok lets compare again

<Nesi> now i have 648 high

<Stowe> my high is 648

<Nesi> 649 i have now as the high

<Stowe> lol

<Nesi> :/

<Stowe> can i have what you're smokin'?

<Nesi> anyone else have YM 649 high?

<Stowe> lol

<werner> yes here too 15:25

<Nesi> i use open e cry, fwiw

<intowin> short ES @ 1519

<Stowe> maybe i'll offer to you what i'm smokin'

<Nesi> :)

<Tim_a> i have 49

<werner> lol

<Tim_a> ib

<Stowe> i use quote cause it's simple

maybe my 651 was the reasonable target 15:26

<Nesi> nice run 15:30

<cmr> Here, High 652 now 15:31

* Stowe sells some ym 13651 +45,+42,+41 from 13606 to 13610 longs

<Nesi> me too

<teresa> SS ES 1519.75

<Nesi> 652 here

<Tim_a> nice shot stowe 15:32

* Stowe sells remaining ym 13643 +32,+31,+32,+28 from 13608 to 13615 longs 15:33

<Stowe> ty tim

maybe i should limmerick that 15:34

ty tym

* Stowe short ym 13640 15:35

adds to short ym 13638

adds to short ym 13636

<teresa> ES half 1518.25 +1.50

<Nesi> nice one, teresa 15:36

<pdays> Shorts ER2 @ 798.8

<teresa> ty

1516 would be a lot nicer

lol

<Nesi> ER looks like it wants 800 15:37

* Stowe adds to short ym 13638

<Nesi> imho

<Stowe> glad you're humble about it

<teresa> er still has a gap up at 800.9

<Nesi> always :)

<teresa> so didnt mess with it

<Nesi> if takes it..imo.. probably i will print 802 803 area 15:38

just my guess

<Stowe> seems reasonable

600 ym is reasonable too 15:39

he said humbly

lets see who's more reasonable

<Nesi> or UNreasonable :)

i am flat tho 15:40

<Stowe> i'm round

<teresa> flat ES

<Stowe> almost 5x5 actually

<teresa> oh my

* Stowe adds to short ym 13637

<Stowe> maybe i'm 6 x 6 15:41

<teresa> lol

* Stowe adds to short ym 13643 15:42

adds to short ym 13649 15:43

adds to short ym 13655

<teresa> 1523.50 order in to ss es

* Stowe adds to short ym 13654

adds to short ym 13653 15:44

<teresa> SS ER 800.9

<Nesi> Long ER2 @ 801 «« paper »» 15:45

* Stowe adds to short ym 13658 15:46

<teresa> SS ES 1522 will add at 1523.5 if needed

ES half off 1521 +1 15:47

<Nesi> 803 is my guess area on ER...fwiw... i will stop at 800 tho

<teresa> ER add 802.10 avg is 801.5 15:48

<Nesi> Exited all ER2 Long @ 803 --> + 2 «« paper »» 15:50

<teresa> Out of ER -1.4

<NihabaAshi> Too bad that strong price movement broke out after I had already called it quites for the day. 15:51

* Stowe adds to short ym 13662

<Nesi> you kept your discipline.. Niha..

and i think that is the hardest thing to do in trading futures..imo 15:52

<teresa> SS 1523.50, will had half from 22 so have 23 avg

<Nesi> stowe 671 ym high,, it was your tgt earlier

<Stowe> i find it hard not to eat a whole bag of potato chips 15:53

now you tell me

<Nesi> :/

Shorts ER2 @ 804.2 «« paper »»

<Stowe> actually it was 678 but i'm sure we'll see that too

<Nesi> i "expect" a pullback to 803.20 for a scalp..fwiw 15:54

* Stowe what the heck--adds to short ym 13669

<Nesi> ER animal "has to breath" :) 15:56

Shorts ER2 @ 804.80 -> Add «« paper »»

* Stowe says, "what the heck"--adds to short ym 13678 15:58

<Nesi> how many you have if i may ask

<Stowe> 14

<Nesi> and your average is? 15:59

<Stowe> 48

<Nesi> come on ER... pullback a bit ..will ya 16:00

<Stowe> it's 50

<Nesi> you hold them overnight?

<Stowe> yeah

cause i need the sleep

<Brutus> not much news for Wed pre market. you looking to cover in globe stowe? 16:01

<Nesi> lol

<Stowe> i'll cover if i can get 625

i gotta quit these potato chips 16:02

too addicting

when i get some money, i'm gonna hire a therapist 16:03

<intowin> holding into after hours ... later 16:04

<teresa> holding some ES into AH

GN all

<oldtechpl> what time er2 ftures close,4:15? 16:05

<Stowe> is all here?

<Brutus> ============ U.S. MARKETS ACTION ===========

DJIA up 96.82 points to 13640.22

NASDAQ up 24.65 points to 2819.77

S&P 500 up 14.87 points to 1517.04

10-year T-note down 76/32 at 102 31/32 yield 4.372

NYMEX Spot Crude up $2.72 at $96.70/bbl at close

Dollar/Euro up 0.0079 at 1.4552

<Nesi> 4.15 yes

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={a6523 845-6eaf-4c84-8ce3-c10ae1566eb8}

<Brutus> stowe you dont think the multiday trend is turning up now? 16:08

<Stowe> dunno 16:09

<Nesi> its pulling back a bit ...Stowe

<Stowe> seems i should get 625 on ym anyway

<Nesi> Covered all ER2 Short @ 804.2 --> + 0.6 «« paper »»

<Stowe> guess i could look at it

resist here but it's pretty old...from aug 13 16:10

you might be right 16:11

no resist

recent resist is 800

you're probably right brut 16:12

* _sep34 is now known as sep34_away 16:13

<Brutus> OK good trading CUL8r 16:15

<Stowe> cya tomarri...bring a bottle of campari

call if you get work

just around the corner there a rainbow in the sky, so lets have another cup of coffee and lets have another piece of pie 16:16

<NihabaAshi> Bye all and see all tomorrow 16:24

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Tue Nov 06 16:29:24 2007 16:29

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