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#FuturesTrades November 16th Friday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+34.80	+240.40	+3318.30
$3,480	$24,040	$331,830

Profitable Trade

0931am - 0945am est

Losing Trade

1254pm - 1256pm 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: Fri Nov 16 07:02:26 2007Session Ident: #futurestrades

* Now talking in #futurestrades 07:02

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

#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) 07:50

<intowin> short ES @ 1465.00 08:12

one only will add at 70

* intowin is now known as intowin_away 08:13

<Foxthorn> gm everyone... good trading today! 08:32

* subq market profile charts for today http://www.charthub.com/chart/author/DA0 D7987572D7FBE3C7226C93DD52A 09:02

<NihabaAshi> Good morning all 09:19

<ItalianSharp> gm 09:22

<NihabaAshi> #FuturesTrades Registration -> #FuturesTrades will sometimes revert back to being a private room without warning. Only register members that have applied for access to the password will be allowed entry into #FuturesTrades. To become a "registered member" of #FuturesTrades, followed the instructions @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm 09:26

Shorts ER2 @ 775.70 -> large size 09:31

<ripsboy> gm... 09:34

<NihabaAshi> Covered ER2 Short @ 772.90 --> + 2.8 09:35

Holding 1 contract only

<Trader222> nice short 09:36

<NihabaAshi> :)

<szubaark> Shorts ES @ 1461 «« paper »» 09:37

<werner> gm all 09:38

<szubaark> Covered all Short ES at 1463 --> - 2 «« paper »» 09:41

bad entry on this one

Shorts ES @ 1462.50 «« paper »» 09:43

<NihabaAshi> ER2 in the middle of a s/r zone 09:44

WRB s/r zone 773.70 - 770.60 09:45

<sav> short es 1460.25

<NihabaAshi> Covered Remainder ER2 Short @ 770.50 --> + 5.2

<szubaark> nice Niha.

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)

<jperl> ER2 net contracts changing hands = minuss 770 on volume of 31 thousand so far 09:46

<NihabaAshi> That gives me a huge profit cushion to allow for me to try some new strategies. 09:47

Most likely around 1030am est I'll start trying new stuff because I still have one key market event to try an exploit around 10am est 09:48

<Andy> Long ER2 @ 770.0 «« paper »»

<szubaark> Covered 1/2 Short ES at 1459.25 --> + 3.25 «« paper »»

<sav> tokk 1/3 out @1459.00 move stop to 1460.25 on remaining contracts

took 09:49

out

<Andy> Exited 1/2 ER2 Long @ 771.2 --> + 1.2 «« paper »»

<sav> for +0.5 09:50

<Andy> Exited 1/4 ER2 Long @ 771.5 --> + 1.5 «« paper »»

Exited Remainder ER2 Long @ 770.5 --> + 0.5 «« paper »» 09:51

<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) 09:56

<szubaark> Lets see if i can get 2nd WRB Target to the downside. 09:57

<sav> short ER2 7681 09:59

<szubaark> Covered all Short ES at 1455 --> + 7.5 «« paper »» 10:00

<jperl> ER2 net contracts changing hands: minus 3200 on volume of 48 thousand

not looking good for the bulls this morning

<sav> exited 1/3 short ER2 at 7676 +0.5

<Andy> Long ER2 @ 765.2 «« paper »» 10:01

<jperl> done for now...trades here... 10:02

http://charts.dacharts.com/2007-11-16/JP ERL_015.jpg

<nikopa> what does "paper" mean ?

<NihabaAshi> It means it was a "simulator trade".

<nikopa> ok thanks

<sav> exit stop short ER2 @7681

<Andy> Exited all ER2 Long @ 765.60 --> + 0.4 «« paper »» 10:03

that was wrong, 764.60 for a -.6

<NihabaAshi> That's one heck of a Swing Trade for anyone Short from the highs on Wednesday. 10:04

<sav> move exit stop ER2 short @7661 10:05

<NihabaAshi> Dark Hammer Line a few intervals ago on the 1min chart 10:06

If it drops further, I'll be looking for any bullish price action to get Long and then will look for an exit within the lower shadow of that prior Dark Hammer Line. 10:07

Long ER2 @ 761.10 -> small size 10:08

Got a little support from Oil an Gold

<cron> 1 10:09

<NihabaAshi> Exited ER2 Long @ 762.30 --> + 1.2

Exited within the range of that prior Dark Hammer Line long lower shadow.

<sav> exit 1/3 ER2 short @7624 +6.1

1 left

<NihabaAshi> I'm now officially in "profit protection mode"... 10:10

1 contract only for the remainder of the trading day.

<nikopa> how many points is your "protection mode " ? 10:11

<NihabaAshi> What do you mean ? 10:12

Are you asking how much am I willing to lose before calling it quits ? 10:13

<pat255> gm all...late start ...:(

<nikopa> no , what is your limit from which you get to protection mode

<NihabaAshi> I still don't understand but let me explain something that may answer your question... 10:14

<Tim_a1> overnight ym was interesting

<NihabaAshi> Each trading day I have a profit goal (often different from the prior trading day).

Today my profit goal was $1200 10:15

<Tim_a1> kinda puts the morning gap hard dump in context

<nikopa> A OK

<Trader222> NihabaAshi: why different daily $ goals?

<NihabaAshi> I'm currently sitting at $2880 in profits.

<nikopa> depends on volatility your goal ?

<NihabaAshi> Bingo

Volatility has a big impact on my goal and/or position size. 10:16

<nikopa> i guess you like volatility

<NihabaAshi> Anyways, I have about $1680 dollars to play with.

<Tim_a1> the bigger the volitility the bigger the goal and the samller the position size?

<NihabaAshi> Try new stuff et cetera

Tim...no...here's why... 10:17

<szubaark> Shorts ES @ 1455 «« paper »»

<NihabaAshi> We need to understand our method and use statistics of past results to determine how Volatility affects our trades or profits.

<sav> exit remaining 1/3 short ER2 @7661 +2.0 10:18

<NihabaAshi> My trades improves when volatility INCREASES.

In contrast, there are traders using a "different method" should be decreasing their position size and/or profit targets when volatility DECREASES. 10:19

Simply, I'm using a volatility based methodology...

It needs volatility...the more the better the results.

If I don't do size on INCREASING volatility... 10:20

Most likely I'm trying to catch bigger profit targets on the trades.

Volatility

Volatility Analysis is really just basic supply/demand stuff.

<nikopa> i don"t daytrade i am short ES 1486 since the 14th and my target is 1438 which i think today will catch 10:21

<szubaark> exit stop set ES @ 1455.75 «« paper »»

<NihabaAshi> It's the main reason why I'm not a fan of risk:reward ratio approach to trading.

Most traders don't use it correctly. 10:22

<szubaark> volatility contracting, expecting volatility spike, hopwfully to downside,im Short

<NihabaAshi> Simply, using a "fixed" risk:reward approach to trading is also saying the market is the same every trading day or the same every price action.

That's far from the truth. 10:23

<Tim_a1> agreed

<NihabaAshi> We need to ADJUST the risk:rewards as volatility changes.

<szubaark> exit stop moved to breakeven ES @ 1455 «« paper »»

<NihabaAshi> We need to ADJUST our daily goals as volatility changes.

<nikopa> think you should put some books that you recommend on your site , in which your theory is based 10:24

<szubaark> Covered 1/2 Short ES at 1453 --> + 2 «« paper »»

exit stop moved to breakeven ES @ 1455 «« paper »»

<NihabaAshi> I don't know any books about such that specifically deals with that :(

If I did, I would market the hell out of it at my site.

There are books on supply/demand, volatility et cetera but they tend to get into what the big boys are doing or how big money flows... 10:25

Nothing for us "retail traders" to use.

Simple rule for us retail traders... 10:26

Volatility Contracts is followed by Volatility Expansion

How to trade and profit from that is the real meat and bones 10:27

<nikopa> when you say big volume contracts when you trade is how much , more than 5 ? 10:32

<intowin_away> Covered all ES Short @ 1448.00 --> + 71 10:38

not 71

try again

short ES @ 1465

Covered all ES Short @ 1448 --> + 17 10:39

that was from my 8 am short

<szubaark> Covered all Short ES at 1451 --> + 4 «« paper »» 10:40

<NihabaAshi> Long ER2 @ 763.80 -> small size 10:44

1 contract only

Made a few adjustments on this new strategy 10:45

:(

I'm doing battle right now with my data vendor... 10:46

Lost my Gold and Oil charts...its key to this new strategy.

rebooting charts...watching only broker quotes :( 10:47

<szubaark> Shorts ES @ 1452.50 «« paper »» 10:52

<NihabaAshi> Got my charts back :)

<pat255> :)

<szubaark> exit stop set ES @ 1454 «« paper »» 10:53

<pirate> scalped YM for a short at 20 ema on 5 min chart(13142) 10:55

<NihabaAshi> Exited ER2 Long @ 765.10 --> + 1.3

<pat255> mkt kind to N...lose charts but still make money..lol

i can easily lose with chrats... 10:56

<szubaark> Covered all Short ES at 1454 --> - 1.5 «« paper »» 10:57

Shorts ES @ 1453.25 «« paper »» 10:58

<NihabaAshi> Long ER2 @ 766.90 -> small size 11:01

<szubaark> Covered all Short ES at 1454.50 --> - 1.25 «« paper »»

will wait for a better setup, some strength here

Shorts ES @ 1456 «« paper »» 11:02

<NihabaAshi> Exited ER2 Long @ 768.10 --> + 1.2 11:03

<szubaark> :(

Covered all Short ES at 1458 --> - 2 «« paper »» 11:04

Shorts ES @ 1457 «« paper »» 11:05

<pdays> Shorts ES @ 1457.5 11:08

Covered all ES Short @ 1456.25 --> + 1.25

<NihabaAshi> #FuturesTrades Purpose -> No gurus, no head traders...you're 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. 11:09

<nikopa> anyone knows any broker where we can simulate trading real time ? 11:11

<Nesi> yes, open y cry, it cost 25 bucks a month and its like having a real account, i have the demo and and real account, and they are printing the same all the time 11:12

<nikopa> what's the site ? 11:13

<Nesi> www.openecry.com

<nikopa> thanks

<szubaark> expecting volatility spike soon 11:15

<pirate> IB also offers a paper trading account using real time data. 11:18

<sav> long er2 @7689

<szubaark> exit stop set ES @ 1458.25 «« paper »» 11:19

<NihabaAshi> Chat Room Logs 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)

<sav> exit 1/3 er2 long @7694 +0.5 11:20

stopped out 7689

* Stowe short ym 13165 11:21

adds to short ym 13163 11:23

adds to short ym 13159 11:24

<Tim_a1> ym just printed an ivb on the 5 minute, do you watch those stowe? 11:26

<szubaark> Covered 1/2 Short ES at 1454 --> + 3 «« paper »»

exit stop moved to breakeven ES @ 1457 «« paper »»

<Stowe> i must confess, what's an ivb? 11:27

<Tim_a1> inside verticle bar

<Stowe> inverse volume bar?

oh

no

<Tim_a1> will discuss when action slows 11:28

you're printing coin right now

dont know why they call it vertical, not like i'ver ever seen a horizontal one 11:30

but an inside bar like the 2nd to last can mark a turning point, startrader, a guy here a few weeks ago, was doing well with them 11:31

<pirate> Regarding YM, note too that rise halted almost exactly (13165)at 20 EMA on 15 min chart 11:36

<Stowe> but, all these things don't come to me like a "check-off list" they just kinda come together because i've seen this stuff before and in fact, we've all seen this stuff before, i try to act upon this instead of just sitting there pondering if i'm right or wrong

<szubaark> Covered all Short ES at 1457 --> 0 «« paper »» 11:38

* Stowe adds to short ym 13157 11:39

<Tim_a1> feels like rock paper sissors sometimes

<Nesi> lol

<Tim_a1> with someone who pauses on the last bounce 11:40

* Stowe adds to short ym 13154

adds to short ym 13170 11:41

adds to short ym 13166

<Guest35179> Shorts ER2 @ 767.9 11:43

Covered all ER2 Short @ 767.3 --> + 0.6 11:44

<sav> short er2 7667 11:46

exit short 7674 -2.1 11:48

<NihabaAshi> Geeesh...that was a quick move...

<Stowe> to sum up that answer, preconceived notions make you hesitate as often as they make you trade

<NihabaAshi> I had my finger looming over the Buy button at 767.20 11:49

Blinked a few times and it was then at 768.20 :(

<Guest35179> Shorts ER2 @ 769.1 11:50

<NihabaAshi> Would'uv, could'uv, should'uv :(

<Guest35179> Covered all ER2 Short @ 769.5 --> - 0.4 11:51

* Stowe adds to short ym 13178

adds to short ym 13188 11:52

<Guest35179> Shorts ER2 @ 771.4

* Stowe adds to short ym 13183 11:53

<pirate> Stowe, do you not use stops? 11:58

<Stowe> ofc i use stops

right now, my stop is 268

<pirate> ok... 11:59

<NihabaAshi> Shorts ER2 @ 770.10 -> small size

<Guest35179> Covered all ER2 Short @ 770 --> + 1.4

<pirate> my own time horizon is much shorter, thats all

<NihabaAshi> Geeesh :( 12:01

Covered ER2 Short @ 770.70 --> - 0.6 12:02

Reverse and Enter Long ER2 @ 770.70

<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)

<nikopa> stowe you are very aggresive player , are you profitable this year ? 12:07

<NihabaAshi> Exited ER2 Long @ 772.10 --> + 1.4

<Guest35179> Long ER2 @ 772.5 12:10

<pirate> Nice easy scalp on YM, long at 171 (20 ema on 1 min chart, plus was first test of old resistance after breakout). Out at 190, should probably have kept 1 contract open as breakout continues...

* Stowe adds to short ym 13210

<Guest35179> Exited all ER2 Long @ 773.2 --> + 0.7

* Stowe adds to short ym 13214 12:13

<Andy> Shorts ER2 @ 773.6 «« paper »»

<NihabaAshi> Shorts ER2 @ 774.20 -> small size 12:15

* sep34 is now known as sep34-AWAY 12:16

<NihabaAshi> Covered ER2 Short @ 774.00 --> + 0.2

Lucky exit because I had a trade error on the entry

<Andy> Covered all ER2 Short @ 774.3 --> - 0.7 «« paper »»

<NihabaAshi> Missed an opportunity to get Long @ 774.20 :( 12:17

Time for a break after a trade error like that (went short when I wanted to go long).

be back later 12:18

* NihabaAshi is now known as NihabaAshi_away

* Stowe adds to short ym 13232 12:19

adds to short ym 13231 12:21

adds to short ym 13223 12:28

adds to short ym 13215 12:34

adds to short ym 13225 12:38

<szubaark> Shorts ES @ 1460.50 «« paper »» 12:42

<Stowe> ym 13166 seems like a reasonable target 12:47

<Andy> stowe, do you only look at YM when estimating your target? Someone looking at ES might feel they're close to their target now... 12:49

<Stowe> i focus on one index

ym 12:50

<NihabaAshi_away> Long ER2 @ 771.50 -> small size 12:54

* NihabaAshi_away is now known as NihabaAshi

<szubaark> expecting volatility spike soon, hopefully to downside, Im Short 12:56

<NihabaAshi> Exited ER2 Long @ 770.00 --> - 1.5

Reverse and Enter Short ER2 @ 770.00

<szubaark> Covered 1/2 Short ES at 1458.50 --> + 2 «« paper »»

exit stop moved to breakeven ES @ 1460.50 «« paper »»

<Stowe> ym 13125 seems like a reasonable next level target below 166 12:57

<szubaark> now will try to reach 2nd WRB Target

<NihabaAshi> Dark Hammer Line...be careful because volatility will often follow it if the Hammer line closed within a s/r zone like this one did. 12:59

<szubaark> hehe.. Niha you got me peeking at the ER, which I dislike very much. 13:00

what timeframe?

<NihabaAshi> Covered ER2 Short @ 769.90 --> + 0.1 13:01

<szubaark> Covered all Short ES at 1460.50 --> 0 «« paper »»

:(

ok..i see that hammer on 2min

<NihabaAshi> 1min too 13:02

* sep34-AWAY is now known as sep34 13:03

<NihabaAshi> Long ER2 @ 769.70 -> small size 13:05

<szubaark> Shorts ES @ 1459.25 «« paper »» 13:06

exit stop set ES @ 1461 «« paper »» 13:08

expecting volatility spike soon

Covered all Short ES at 1461 --> - 1.75 «« paper »» 13:09

Buys ES @ 1461 «« paper »»

<NihabaAshi> Exited ER2 Long @ 769.80 --> + 0.1 13:10

feels like they are just picking off stops

<szubaark> yup.. typical friday afternoon crap 13:11

<codehead> don't forget options 13:12

<NihabaAshi> Long ER2 @ 769.60 -> small size 13:15

That Dark Hammer Line still got a grip on the price action...sucks price back down like quicksand. 13:19

<szubaark> lets see if we get more followthru on this spike to upside 13:20

<NihabaAshi> szu...Oil and Gold not supporting us on these longs. 13:22

Simply, we are on our own :)

<szubaark> they suppose to move up at same time as eminis?

<NihabaAshi> No

Exited ER2 Long @ 769.80 --> + 0.2 13:23

Another trailing stop picked off :(

szu...I only use them for trade management "after" entry 13:24

Kind'uv like lets me know when my trades are in trouble or when I should increase my profit targets et cetera

<szubaark> ok... so u went long and you want gold and oil to ......?

<NihabaAshi> szu...my entries have nothing to do with Gold and Oil... 13:25

My trade management "after" entry is dependent upon them in this new strategy I'm working on.

<szubaark> so when u lets see go Long you want Oil and Gold to ...... ? 13:26

Exited all Long ES at 1459 --> - 2 «« paper »»

Shorts ES @ 1459 «« paper »»

<NihabaAshi> When I go Long...I then look at Oil and Gold to help manage my trade...

If they start to go up...I relax a little and see if a WRB pt1 is hit. 13:27

If they are still going up after my target is reached...

I stay in the trade.

Now...the key is "both" and not one.

I don't believe in 1 on 1 correlations.

<szubaark> ok, understand. 13:28

<NihabaAshi> I prefer multiple different markets moving in the same direction to help manage my trades after entry.

<Andy> Long ER2 @ 768.9 «« paper »» 13:29

Exited all ER2 Long @ 768.9 --> 0 «« paper »»

<NihabaAshi> ER2 still within the quicksand price action of that Dark Hammer Line :( 13:30

<Andy> Long ER2 @ 767.9 «« paper »»

I will get these numbers correct, eventually...

Exited 3/4 ER2 Long @ 769.5 --> + 1.6 «« paper »» 13:32

exit stop moved to breakeven ER2 @ 767.9 «« paper »» 13:34

<szubaark> tricky area here.. its a toss up :)) 13:38

<Andy> Exited Remainder ER2 Long @ 768.4 --> + 0.5 «« paper »» 13:39

<szubaark> Covered all Short ES at 1461 --> - 2 «« paper »» 13:42

Buys ES @ 1461 «« paper »»

<NihabaAshi> Long ER2 @ 770.50 13:43

<Andy> could have gone either way...and it did.

<NihabaAshi> So far its a volatility spike.

Hopefully it converts into a volatility breakout

<szubaark> yup..we need followthru

<NihabaAshi> It's above the high now of that prior Dark Hammer Line :) 13:44

Out of the quicksand.

We now got support from Oil and Gold 13:49

Lets see if those two decide to hang around.

<szubaark> you watch the futures Oila and gold?

<NihabaAshi> Nope...Gold retreating.

szu...I watch the Indices and ETF's 13:50

Of Gold and Oil...not their futures

Exited ER2 Long @ 771.10 --> + 0.6 13:51

<szubaark> Exited all Long ES at 1461 --> 0 «« paper »» 13:52

:(

Shorts ES @ 1461.50 «« paper »» 13:54

False Break to test highs of day?

weill need momentum to downside now for this to work 13:55

<NihabaAshi> Shorts ER2 @ 768.20 -> small size 13:57

<szubaark> hhmm..ES still holding Support 13:58

<Trader222> who was the brit female just on cnbc 13:59

<NihabaAshi> :( 14:00

Losing my patience 14:01

tightening up my stop

<szubaark> good idea 14:02

<NihabaAshi> volatility breakout

Ooops...meant spike

breakout not confirmed yet

<szubaark> breakout is when u get follothru IN THE DIRECTION of the spike? 14:03

<Tim_a1> really weired action today

<szubaark> Covered 1/2 Short ES at 1457.75 --> + 3.75 «« paper »» 14:05

<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> Covered ER2 Short @ 765.80 --> + 2.4 14:09

Got +1.4 more...thanks to Oil, Gold and DAX 14:10

* Looking up rainer user info... 14:12

up twmoody user info...

up M20 user info...

<szubaark> some weak support here on ES 14:13

<NihabaAshi> Registration Reminder -> #FuturesTrades will sometimes revert back to being a private room without warning. Only "registered members" are allowed entry into #FuturesTrades. To become a "registered member" of #FuturesTrades, followed the instructions @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm

* Stowe covers some ym 13125 +40,+40,+38,+38,+34,+34,+32,+29,+45,+41 from 13170 to 13154 shorts 14:14

<Stowe> ym 13080 seems like a reasonable next level target below 125 14:15

<Nesi> vn

<Stowe> ty

gtbos

<Tim_a1> had to sit through some discomfort to collect that one, congrats 14:16

<Stowe> thanks tim 14:17

<Tim_a1> they did a good job of picking off stops before dumping it 14:18

<Stowe> yes...i thought you'd see that grab

<szubaark> yes, it was a lot of fakeouts BEFORE this sudden drop.

<Stowe> i almost added, but it wouldn't have improved my ave. so i let them grab

<Nesi> gold at day low, fwiw 14:19

<Tim_a1> . 14:23

<Stowe> ..

<Tim_a1> . is a test to see if i've been disconnected 14:24

<Stowe> oh

i thought it was some secret message

<szubaark> lol

<Tim_a1> 120 pt ym channel since yesterday 14:25

<Trader222> good short Stowe 14:30

everyone thinking another eod selling esp here on OpX friday ahead of weekend before many traders leaving monday for turkey holiday; so contrain in me wondering if we go up and over 1465 again

<Tim_a1> big bear flag? 14:35

<Trader222> likewise, if loses 1450 again selling could be brutal 14:36

<Stowe> Be Brutal---Be Brutal! 14:37

line from "the Producers" 1968

<ItalianSharp> amazing selling pressure

<szubaark> heehe,, nice fakeouts before this drop dont forget

Covered all Short ES at 1450 --> + 11.5 «« paper »»

<ItalianSharp> when it looked like mkts were finally out of the slump...bang...back down to ake new lows 14:38

<ItalianSharp> nice szu, way to kill those bulls...:))

* Stowe covers some ym 13080 +86,+98,+108,+103 from 13166 to 13188 shorts

<Brutus> WTG Szu

<szubaark> thanx.. good day.. need more to build Confidance.

<Brutus> Excellent trade Stowe

<ItalianSharp> NQ not participating to this selloff may generate some major short covering or late rally 14:39

Szu: you need to improve your trading during chop days...you seem to fare pretty well when markets trend or have big swings

<Nesi> good job szu 14:40

<Stowe> thanks brut

thanks brutal

<szubaark> yes, chop (triangles,wedges,rectangles) continue to be problem for me as well as Creepy Trend Days (trend days with shallow pullbacks) 14:41

<Brutus> brutal brutus I like it

<szubaark> as these shollow pullbacks cause me to increase my Stop (lose discipline) and Revange trade. 14:42

In Hindsight, those days look easy but in REAL TIME, its another story. 14:43

<Tim_a1> very much another story

<ItalianSharp> i see your pt szu...keep in mind that as soon as you fix your problems during those days, you'll be consistently profitable

you got half of the game figured out...you must figure out the other half now...:) 14:44

<szubaark> yes, i hope so :)

<Tim_a1> next time you'll say sissors, but they'll say rock 14:45

<Nesi> time for thanksgiving friday rally?

lol

<codehead> potential vegas on ER, szu, if it wants to get a little countertrend in before close 14:48

<Guest35179> Long ER2 @ 763.3 14:50

<Nesi> come on ER,,, follow the YM 14:52

<Guest35179> if it breaks 762 should head to 760 14:54

<Stowe> ym 13065 seems like a reasonable next level target below 13080 14:55

<NihabaAshi> Dark Hammer Line

<Guest35179> Exited all ER2 Long @ 761.9 --> - 1.4 14:56

Shorts ER2 @ 761.7

Covered all ER2 Short @ 761.5 --> + 0.2 14:57

Shorts ER2 @ 765.4 15:00

Covered all ER2 Short @ 765.1 --> + 0.3 15:03

<Nesi> Long ER2 @ 764.50 «« paper »» 15:04

Exited all ER2 Long @ 767.00 --> - 11463.5 «« paper »» 15:08

<codehead> that's quite a trick 15:11

<Tim_a1> chop 15:18

<Nesi> to me looks like market coiling 15:20

to the upside

just a wild guess

<ItalianSharp> you all have a nice weekend, i am done for the day 15:27

<werner> nice wk too it

IS 15:28

* Stowe covers remaining ym 13125 to 13135 +85,+89,+107,+106,+84,+86,+96 from 13210 to 13232 shorts 15:29

<Brutus> good one stowe, was that your hundred that went through? 15:30

<Stowe> lol

<pirate> nice trades stowe 15:31

<Stowe> ty pi 15:32

* Stowe short ym 13129 15:34

adds to short ym 13124 to 13123

adds to short ym 13120

adds to short ym 13117 15:35

adds to short ym 13116 to 13119

adds to short ym 13122 15:37

adds to short ym 13139 15:41

adds to short ym 13135 15:42

adds to short ym 13150 15:44

adds to short ym 13162 15:47

* sep34 is now known as sep34_away 15:50

* Stowe adds to short ym 13185

<Trader222> yea to this (sorry stowe) 15:51

[14:30] <Trader222> everyone thinking another eod selling esp here on OpX friday ahead of weekend before many traders leaving monday for turkey holiday; so contrain in me wondering if we go up and over 1465 again

wow, that was only 1h20min ago? geez feels like 5hrs ago

* Stowe adds to short ym 13192

<codehead> man, told a friend i thought Ym would try the pivot, as it crossed 150--tapped pivot (woodie's) exactly 15:53

* Stowe adds to short ym 13202

adds to short ym 13207 15:55

<Tim_a1> this week really busted my chops mentally 15:56

<codehead> when i'm bored, i look to maketwatch for wisdom: during that monster bounce, mw had as headline, "Volatility drags Street south"" 16:02

till they finally updated it to "Street bounces higher again"

the uncanny perception of those guys

<Nesi> have a great weekend all :)

<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) 16:09

<NihabaAshi> Shorts ER2 @ 767.40 -> small size 16:10

<Tim_a1> i dont know about you guys, but this week drove me nuts 16:11

<NihabaAshi> Covered ER2 Short @ 766.80 --> + 0.6

WRB Analysis

Learn More

<Tim_a1> ultra choppiness doesnt necessarely mean change in trend, but change in trens tends to be very choppy 16:12

<NihabaAshi> Good closure to a consistent week of profits. 16:15

<NihabaAshi> Take care all and have a good/safe weekend.

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Fri Nov 16 16:16:08 2007 16:16

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