#FuturesTrades November 11th Tuesday 2008 Trade Log

Trade Posting Chat Log Info: My name is M.A. Perry (a.k.a. online as NihabaAshi - martial arts & Japanese Candlestick term) and I am the moderator of #FuturesTrades.

Simply, my job is to keep the peace and ensure #FuturesTrades is a useful community of traders from around the world that have gather in a virtual trading office.

In addition, I personally use the below chat log as feedback for critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading.  To maintain the usefulness of the below chat log, all of my trades were posted in real-time within 5 seconds after entry or exit unless otherwise noted in the log. 

  To read behind the scenes details about my trades posted below such as explanation of position size, stop management, chart interval choice et cetera...click here.

Further, although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based methodology (very objective) that involves price action only trading (no indicators). However, some of my trades are intuition via market experience in combo with many concepts from my rule based methodology.

  My own current performance record and broker profit/loss statement is posted at the bottom of today's log.

With that said, today's trade posting chat log is below and it contains trades posted in real-time by #FuturesTrades members including all of my own trades that were posted in real-time. 

Last of all, 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.
Time Zone Info	Chat Log below is eastern standard time (est.) - New York City, U.S.A and/or Montréal, Canada time zone.
<@X>	#FuturesTrades Info ->  No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at http://www.thestrategylab.com/FuturesTradesChatRoom.htm
	Session Start: Tue Nov 11 09:28:45 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	09:28
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<drt>	gm all	09:29
<pat255>	gm all	09:30
<trader0101>	gm
<T-stop>	gm	09:31
<szubaark>	Shorts ES @ 896 «« paper »»	09:47
<+szubaark>	exit stop set ES @ 900 «« paper »»	09:49
<PapaJon>	hidden gap from 10/28 finally filled
<+PapaJon>	on es
	Next stop... perhaps the open of that same candle???	09:50
<+szubaark>	tightening stop	09:51
	exit stop moved to breakeven ES @ 896 «« paper »»
	tightening stop	09:55
	exit stop set ES @ 894.75 «« paper »»
	exit stop set ES @ 894/50 «« paper »»	09:56
<gabe>	np
<+ItalianSharp>	damn...no chance to catch this drop unless by chasing, which i am not going to do	09:58
<+pat255>	y IS ..	09:59
	agree
	chasing is hazard
<+ItalianSharp>	this is one of the toughest parts of trading as a job: develop discipline and be able to sit in front of the screens watching thousands of $$$ go by you and do nothing because you dont have a setup
<+szubaark>	pullbacks usually dont come in til later in day, but they choppy LOL
	IS well put	10:00
<+PapaJon>	so true IS	10:06
<+szubaark>	tightening stop
	exit stop set ES @ 894 «« paper »»
	Covered all Short ES at 894 --> + 2 «« paper »»	10:07
<@NihabaAshi>	Shorts ES @ 892.75 -> medium size	10:16
	4 only
<@X>	#FuturesTrades Info ->  Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.	10:17
<@NihabaAshi>	Covered all ES Short @ 893.75 --> - 1	10:18
	Long ES @ 895.25 -> medium size	10:20
	4 only
<+szubaark>	easy to get shaken out in this low Volatility Price action	10:21
<@NihabaAshi>	Exited all ES Long @ 893.50 --> - 1.75
<+pat255>	y szu
<@NihabaAshi>	Shorts ES @ 894.75 -> large size	10:22
	9 only
	Covered all ES Short @ 895.50 --> - 0.75	10:25
	Shorts ES @ 895.50 -> large size	10:27
	9 only
<+szubaark>	Shorts ES @ 894.50 «« paper »»	10:28
<@NihabaAshi>	Covered all ES Short @ 891.75 --> + 3.75	10:30
<+T-stop>	vn
<+pat255>	vn N finally caught it
<@NihabaAshi>	I don't mind the losses...just gotta catch that runner.	10:31
	It was close but I didn't think it could go +5 points or more.
<+pat255>	y ...	10:32
<+szubaark>	for me to catch runner means holding for a few minutes as i give the trade time to develop
	trying hard to shake me out	10:35
	exit stop set ES @ 896.50 «« paper »»	10:36
	exit stop moved to breakeven ES @ 894.50 «« paper »»	10:40
	tightening stop	10:41
	exit stop set ES @ 893 «« paper »»
	Covered all Short ES at 893 --> + 1.5 «« paper »»	10:44
	Shorts ES @ 889.75 «« paper »»	10:47
<tomis170>	Shorts ES @ 892 «« paper »»	10:52
<+tomis170>	Covered all ES Short @ 889 --> + 3 «« paper »»	10:58
<silo>	wow i just turned on my platform	11:09
<+silo>	choppy action today eh?
<palmer>	yep silo	11:10
<+palmer>	just a grind
	i am calling it a day
<+szubaark>	better get used to it, Volatility dropping FAST
	Covered all Short ES at 887.75 --> + 2 «« paper »»	11:11
	we in a downtrend, but still market giving scraps..taking a break
* szubaark	is now known as szubaark_away	11:12
<pdays>	Long ES @ 889.0	11:22
<+pdays>	Exited all ES Long @ 892.25 --> + 3.25
<+szubaark_away>	Shorts ES @ 887 «« paper »»	11:33
<+PapaJon>	dang... went for breakfast and missed one of my perfect short signals	11:37
	ah well... there will be more
<+szubaark_away>	Covered all Short ES at 891 --> - 4 «« paper »»	11:40
	Shorts ES @ 891.50 «« paper »»	11:50
<+tomis170>	Long ES @ 890.25 «« paper »»	11:52
<+PapaJon>	have to head to jobsite.. heres my measley trades... hope to be back this aftnoon.	11:55
	http://www.veritashomeinspection.com/jp1 .jpg
	by all
	bye	11:56
<+szubaark_away>	bye
<+tomis170>	Exited all ES Long @ 889.5 --> - 0.75 «« paper »»	11:58
<@NihabaAshi>	Shorts ES @ 890.00 -> small size	11:59
	2 only
<+szubaark_away>	tightening Stop	12:06
	exit stop set ES @ 890.25 «« paper »»
	tightening Stop	12:13
	exit stop set ES @ 889.25 «« paper »»
<@NihabaAshi>	Covered all ES Short @ 887.50 --> + 2.5	12:16
<+szubaark_away>	Covered all Short ES at 888 --> + 3.5 «« paper »»
	Shorts ES @ 884.75 «« paper »»	12:22
<@X>	#FuturesTrades Info -> Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.	12:23
<+szubaark_away>	Covered all Short ES at 885.25 --> - 0.5 «« paper »»	12:32
<@NihabaAshi>	Shorts ES @ 888.25 -> small size	12:42
	2 only
	trade error but will stick with the trade
	Covered all ES Short @ 885.75 --> + 2.5	12:49
<TraderG>	test	12:53
* Kalle_away	is now known as Kalle
<Kalle>	you passed
<+TraderG>	:)	12:54
<+szubaark_away>	....
* Kalle	is now known as Kalle_away	13:23
<+tomis170>	Long ES @ 888.50 «« paper »»
	Exited all ES Long @ 887 --> - 1.5 «« paper »»	13:25
<+szubaark_away>	Shorts ES @ 885.50 «« paper »»	13:35
* szubaark_away	is now known as szubaark
<climber>	Shorts YM @ 8574 «« paper »»	13:42
<+szubaark>	Covered all Short ES at 888 --> - 2.5 «« paper »»	13:43
<+ItalianSharp>	damn, can price action get uglier than this?	13:44
	i am still bearish overall for the day - eminis need to test key support areas a little lower than LOD - yet this doesn't feel like a typical bear day	13:45
<+climber>	Covered all YM Short @ 8599 --> - 25 «« paper »»	13:47
<+ItalianSharp>	this slow downtrend is typical of the accumulation cycle...we are down over 3% and it feels like a 0% day
	i expect major pop soon on the daily charts	13:48
<+szubaark>	Buys ES @ 891.50 «« paper »»	13:52
	Shorts losing steam
	Exited all Long ES at 895 --> + 3.5 «« paper »»	13:55
<+ItalianSharp>	yes, shorts are done for the moment
	this is market is strong...and the lows from october 10th have been holding real well
	retailers won't miss their christmas rally :)	13:56
<+szubaark>	good.. i need my ETF's to rebound, dont like them down so much Looool
<+ItalianSharp>	HOD in the cards now
<+szubaark>	Italian, u Long?	13:57
<+ItalianSharp>	i just closed all my longs	13:59
	we will likely see new intraday highs, but i aint gonna take a chance	14:00
	i am still bearish for today
<+szubaark>	we just took out whole days Range with 2 frikin candles
<+ItalianSharp>	we may see a late dump-it-all drop in the final hour
	yes...after accumulating all day off those lows, no sellers left to fight this
	damn...this is some nice rebound off those lows	14:01
	bears must feel like crap right now
	:)
<+szubaark>	yea. making sure u dont enter, poor AHG guys wondering why they never got a pullback LOL
	home loan mod plan being announced	14:03
<estrader1>	s901	14:04
<+estrader1>	1/2 out 89
	899 i mean	14:05
<+ItalianSharp>	looks like we just hit a wall
	no HOD yet
	and i am not sure we'll get it
<Nesi>	Long ES @ 897.00 «« paper »»
<+ItalianSharp>	volatility just picked up....usually, when it picks up like this and we are rising...it spells trouble	14:08
<+estrader1>	out rest 896 +5
<+ItalianSharp>	pinball machine price action right now	14:12
<+Nesi>	Long ES @ 899.00 -> Add «« paper »»	14:14
<+ItalianSharp>	should spike soon either way	14:15
	if down, longs are going to cover
	and we could get a nasty selloff
	especially late longs cant afford to have stops at LOD
	so they'll just get out as soon as they see this thing go down	14:16
<+szubaark>	Buys ES @ 900.25 «« paper »»
<+Nesi>	Long ES @ 901.00 -> Add «« paper »»	14:17
<+szubaark>	tightening stop
	exit stop moved to breakeven ES @ 900.25 «« paper »»	14:18
	they pouding it right back	14:19
	Exited all Long ES at 900.25 --> 0 «« paper »»
	Buys ES @ 904 «« paper »»	14:20
<+ItalianSharp>	wow...this move got some legs	14:21
<+szubaark>	lol
<+ItalianSharp>	gap fill is not out of question now
<@NihabaAshi>	Long ES @ 907.25 -> small size
<+ItalianSharp>	this is a major rally happening
<@NihabaAshi>	3 only
<+szubaark>	yes, but its TOUGH to get good entry wothout Chasing and getting stopped out
	Exited all Long ES at 904.25 --> + 0.25 «« paper »»	14:23
	seeeee
<+ItalianSharp>	szu, agree...another problem is to take those profits when made available to you...
<+szubaark>	each spike is punded right back
<+ItalianSharp>	i've been leaving lots of cash on the table over the last 3 weeks...this week my rule is to take those profits and forget about homeruns	14:24
<@NihabaAshi>	Exited all ES Long @ 905.25 --> - 2
<@X>	#FuturesTrades Info ->  No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at http://www.thestrategylab.com/FuturesTradesChatRoom.htm
<+ItalianSharp>	we got spoiled by the huge volatility in october and must change that attitude quickly
<+szubaark>	Buys ES @ 908.75 «« paper »»	14:25
	Volatility still good	14:26
	exit stop set ES @ 905 «« paper »»
	exit stop set ES @ 906 «« paper »»	14:27
	expecting another spike soon, hopefully to upside, im Long	14:28
<@NihabaAshi>	Long ES @ 910.25 -> small size
	3 only
<+szubaark>	tightening stop	14:29
	exit stop set ES @ 909 «« paper »»
<@X>	#FuturesTrades Info ->  Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.
<+szubaark>	Exited all Long ES at 912.75 --> + 4 «« paper »»
	dont want to sit thru another down pounding on a Volatility spike to upside	14:30
<@NihabaAshi>	Exited all ES Long @ 913.75 --> + 3.5
<+ItalianSharp>	szu, that's the way to go	14:31
	take those points when they are there
	unless you want to establish an intraday position trade	14:32
<+szubaark>	Shorts ES @ 908 «« paper »»	14:40
	tightening stop	14:44
	exit stop moved to breakeven ES @ 908 «« paper »»
	Covered all Short ES at 907 --> + 1 «« paper »»	14:45
<+ItalianSharp>	it's starting to look less of a retracement and more a reversal	14:52
<+szubaark>	Shorts ES @ 895.50 «« paper »»	15:01
	Covered all Short ES at 898.50 --> - 3 «« paper »»
	Buys ES @ 898.50 «« paper »»
<@NihabaAshi>	Long ES @ 896.25 -> small size	15:02
	2 only
	Exited all ES Long @ 898.00 --> + 1.75	15:04
<+szubaark>	sucker jumpy again
	will cover at closest Resistance that i see	15:07
	exit stop set ES @ 899 «« paper »»
	thats IF i dont get shaken out
	Exited all Long ES at 899 --> + 0.5 «« paper »»	15:08
	:((
	frikin wiggles
	Shorts ES @ 901.50 «« paper »»	15:26
	exit stop moved to breakeven ES @ 901.50 «« paper »»	15:28
	Covered all Short ES at 901.50 --> 0 «« paper »»	15:29
	Shorts ES @ 899 «« paper »»	15:30
	needs to break this 895	15:31
	tightening stop
	exit stop moved to breakeven ES @ 899 «« paper »»
	last trade, starting to lose focus and need to take a break	15:32
	Volatility Increasing	15:35
	tightening stop	15:37
	exit stop set ES @ 893 «« paper »»
	Covered all Short ES at 889.50 --> + 9.5 «« paper »»	15:40
	Good Volatility showed up after 2pm, and I took advantage of it	15:42
	rest of day day was just churning trades for Ticks against other retail	15:43
<@NihabaAshi>	Shorts ES @ 899.25 -> small size	15:52
	1 only
	Covered ES Short @ 896.75 --> + 2.5	15:54
<werner>	gn all	16:03
<@X>	#FuturesTrades Info -> Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.Session Close: Tue Nov 11 18:12:44 2008	16:32
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)

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), 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, ES and NQ   

ICE Emini TF (formerly CME 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

COMEX Metals Gold GC and ZG

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.

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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