#FuturesTrades November 18th 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 18 09:22:59 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	09:22
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<silo>	Shorts YM @ 8266	09:24
<+silo>	2
<drt>	gm all	09:25
<@NihabaAshi>	Shorts ES @ 847.75 -> small size	09:26
	3 only
<+silo>	morning szu szu	09:28
<pat255>	gm all	09:29
<+silo>	set to breakeven stop	09:30
	Covered all YM Short @ 8231 --> + 35	09:31
<PapaJon>	nice goin silo
<+silo>	2 contracts :)
<+PapaJon>	yeah baby
<T-stop>	vn silo
<@NihabaAshi>	Covered 2/3 ES Short @ 845.50 --> + 2.25
	Covered Remainder ES Short @ 847.00 --> + 0.75
	Long ES @ 846.50 -> medium size	09:32
	4 only
<Nesi>	Bernanke on tv, fwiw	09:33
<pdays>	Long ER2 @ 450.0
<@NihabaAshi>	Exited all ES Long @ 846.50 --> 0	09:34
<+pdays>	Exited all ER2 Long @ 450.5 --> + 0.5
<@NihabaAshi>	Long ES @ 846.25 -> medium size
	5 only
<bazooka85>	Long ES @ 849.50 «« paper »»	09:36
<@NihabaAshi>	Exited all ES Long @ 850.00 --> + 3.75	09:37
<ripsboy>	morning all...
<+bazooka85>	Exited all ES Long @ 852.50 --> + 3 «« paper »»	09:38
<ItalianSharp>	morning all	09:39
<Excedrin>	morning
<+bazooka85>	Shorts ES @ 853.00 «« paper »»	09:40
	Covered all ES Short @ 855.00 --> - 2 «« paper »»
	Long ES @ 855.00 «« paper »»	09:43
	Exited all ES Long @ 853.50 --> - 1.5 «« paper »»	09:45
<+silo>	this could just be a bounce.... may continue to drop lower today	09:47
	could
	will have to see how price develops here	09:48
<@NihabaAshi>	Long ES @ 857.50 -> small size	09:50
	2 only
<szubaark>	Buys ES @ 858 «« paper »»
<@NihabaAshi>	Exited all ES Long @ 855.50 --> - 2	09:51
<+bazooka85>	Shorts ES @ 854.50 «« paper »»	09:52
<+T-stop>	paulson on now,
<@NihabaAshi>	Shorts ES @ 855.00 -> small size	09:53
	3 only
<+silo>	Shorts YM @ 8314
	2
<+T-stop>	nice entry guys	09:54
<+bazooka85>	Covered all ES Short @ 851.50 --> + 3 «« paper »»
<+szubaark>	Exited all Long ES at 852 --> - 6 «« paper »»
	Shorts ES @ 852 «« paper »»
<+silo>	Covered all YM Short @ 8286 --> + 28
	2 contracts :)
<@NihabaAshi>	Covered all ES Short @ 850.25 --> + 4.75	09:55
<+bazooka85>	Shorts ES @ 850.50 «« paper »»	09:59
	Covered all ES Short @ 852.50 --> - 2 «« paper »»
<+szubaark>	exit stop set ES @ 852 «« paper »»	10:00
	exit stop set ES @ 853 «« paper »»
<+silo>	missed short entry	10:01
	:(
	Shorts YM @ 8272	10:02
	2
	Covered 1/2 YM Short @ 8241 --> + 31	10:04
	Covered Remainder YM Short @ 8241 --> + 31
<+szubaark>	exit stop set ES @ 851.75 «« paper »»	10:05
<+silo>	daily profit target reached
<+bazooka85>	keep trading silo u beast!
<+silo>	meow~	10:06
<@NihabaAshi>	Long ES @ 846.75 -> medium size
	4 only
<+bazooka85>	Long ES @ 844.50 «« paper »»	10:08
	Exited all ES Long @ 846.50 --> + 2 «« paper »»
<@NihabaAshi>	Exited all ES Long @ 846.50 --> - 0.25	10:10
<+bazooka85>	Long ES @ 847.25 «« paper »»
	Exited all ES Long @ 845.75 --> - 1.5 «« paper »»
	laggy fill
	even with paper?
	and there she goes. . .
<@NihabaAshi>	Long ES @ 848.25 -> medium size
	5 only	10:11
<+szubaark>	Covered all Short ES at 848.75 --> + 3.25 «« paper »»
<@NihabaAshi>	Exited all ES Long @ 850.00 --> + 1.75	10:12
<+silo>	all 3 indices approaching POC	10:28
<+szubaark>	Buys ES @ 861.75 «« paper »»	10:29
<+silo>	we just hit POC	10:34
	will have resistance goig up
	be careful szu
	retracement is mroe than likely	10:35
	:)
<bazooka85>	Long ES @ 861.00 «« paper »»
<+silo>	trend still up of course
	all depends on how much we retrace	10:36
<+bazooka85>	Exited all ES Long @ 859.25 --> - 1.75 «« paper »»	10:37
<+Excedrin>	Long FAZ 95.84
<@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.	10:39
<+Excedrin>	Exited FAZ 94.95
<@NihabaAshi>	Long ES @ 862.50 -> medium size	10:42
	4 only
	Exited all ES Long @ 860.00 --> - 2.5	10:43
<+szubaark>	exit stop set ES @ 857.50 «« paper »»
	Exited all Long ES at 857.50 --> - 4.25 «« paper »»	10:44
	Shorts ES @ 857.50 «« paper »»
<@NihabaAshi>	Shorts ES @ 858.50 -> large size
	10 only
	Covered all ES Short @ 857.25 --> + 1.25	10:48
	I think Paulson is back on TV :(
	Shorts ES @ 857.25 -> small size	10:50
	3 only
	Covered all ES Short @ 857.00 --> + 0.25	10:54
<+szubaark>	exit stop set ES @ 859.50 «« paper »»	10:55
<+silo>	Shorts YM @ 8359	10:56
	1
	Shorts YM @ 8361 -> Add	10:57
	Covered all YM Short @ 8373 --> - 26	10:58
<+szubaark>	exit stop set ES @ 859.25 «« paper »»	11:00
	Volatility Increasing	11:05
<@NihabaAshi>	Long ES @ 852.25 -> small size	11:10
	3 only
<+szubaark>	exit stop set ES @ 854.25 «« paper »»
	Covered all Short ES at 854.25 --> + 3.25 «« paper »»	11:11
<@NihabaAshi>	Exited all ES Long @ 854.00 --> + 1.75	11:12
	Long ES @ 855.50 -> small size	11:16
	3 only
<+silo>	Shorts YM @ 8338	11:18
	1
	Covered all YM Short @ 8352 --> - 14	11:19
<@NihabaAshi>	Exited all ES Long @ 855.50 --> 0
	Houdini Escape...should'uv had an entry around 854.50	11:20
	Be back later
* NihabaAshi	is now known as NihabaAshi_away
<+silo>	Shorts YM @ 8349	11:23
	1
	Shorts YM @ 8340 -> Add
<+szubaark>	Shorts ES @ 853 «« paper »»	11:24
<+silo>	Covered all YM Short @ 8346 --> - 3	11:28
	-40 bucks	11:29
	:)
<+szubaark>	Covered all Short ES at 856.75 --> - 3.75 «« paper »»	11:31
	Buys ES @ 858 «« paper »»	11:32
	exit stop set ES @ 858.25 «« paper »»	11:45
* NihabaAshi_away	is now known as NihabaAshi
<+PapaJon>	I have to go to jobsite. Here are my trades.... I added some of last weeks... cuz I forgot to post them... per room rules. http://www.veritashomeinspection.com/jp1 .jpg	11:46
<@NihabaAshi>	thanks pj
<+PapaJon>	yw niha... and actually... thank you
<@NihabaAshi>	Long ES @ 860.25 -> small size
	2 only
<+szubaark>	Exited all Long ES at 858.25 --> + 0.25 «« paper »»	11:48
	Shorts ES @ 858 «« paper »»	11:49
<@NihabaAshi>	Exited all ES Long @ 858.25 --> - 2
<+szubaark>	sneaky whipsaws
<+silo>	resistance up here	11:50
<@NihabaAshi>	Long ES @ 860.50 -> medium size	11:51
	4 only
<+silo>	864 is resistance for es
	8395 for ym
<+szubaark>	Covered all Short ES at 863.25 --> - 5.25 «« paper »»	11:52
	Buys ES @ 863.25 «« paper »»
	hopefully we get some follothru, none of this Whipsaw nonsense	11:53
<@NihabaAshi>	Exited all ES Long @ 865.25 --> + 4.75	11:54
<+szubaark>	Exited all Long ES at 861.25 --> - 2 «« paper »»	12:05
	Shorts ES @ 861.25 «« paper »»
	exit stop set ES @ 862 «« paper »»	12:15
	Covered all Short ES at 862 --> - 0.75 «« paper »»	12:17
<+Excedrin>	Long faz 95.38	12:20
<@NihabaAshi>	Shorts ES @ 859.25 -> medium size
<+szubaark>	Shorts ES @ 858.50 «« paper »»
<@NihabaAshi>	4 only
<+szubaark>	got shaken out earlier gezzzz
* codehead_afk	is now known as codehead	12:21
<@NihabaAshi>	Covered all ES Short @ 856.50 --> + 2.75	12:25
<+szubaark>	exit stop set ES @ 858 «« paper »»	12:30
<+Excedrin>	Exited faz 97
<+szubaark>	exit stop set ES @ 852.75 «« paper »»	12:35
	exit stop set ES @ 856.50 «« paper »»	12:36
<@NihabaAshi>	Long ES @ 852.50 -> small size	12:38
	2 only
<+szubaark>	tightening stop	12:39
	exit stop set ES @ 854.25 «« paper »»
	Covered all Short ES at 854.25 --> + 4.25 «« paper »»	12:41
<@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.	12:42
<@NihabaAshi>	Exited all ES Long @ 853.25 --> + 0.75	12:43
	:(
<+szubaark>	Shorts ES @ 850.50 «« paper »»	12:46
	Volatility Increasing
<@NihabaAshi>	Long ES @ 848.75 -> small size	12:50
	2 only
<+szubaark>	exit stop moved to breakeven ES @ 850.50 «« paper »»	12:51
<@NihabaAshi>	Exited all ES Long @ 847.75 --> - 1
<+szubaark>	Volatility still Increasing	12:52
<@NihabaAshi>	Shorts ES @ 848.25 -> small size
	3 only
	Covered all ES Short @ 849.25 --> - 1	12:55
<+szubaark>	Covered all Short ES at 850.50 --> 0 «« paper »»
<@NihabaAshi>	Long ES @ 850.25 -> medium size	12:57
	4 only
<+szubaark>	Shorts ES @ 848.50 «« paper »»	13:00
<@NihabaAshi>	Exited all ES Long @ 848.00 --> - 2.25	13:01
<+szubaark>	Volatility Increasing
<@NihabaAshi>	Shorts ES @ 847.75 -> medium size
	4 only
<+szubaark>	Volatility spike	13:04
<@NihabaAshi>	Covered all ES Short @ 844.75 --> + 3	13:06
<+pat255>	nice recovery
<+szubaark>	hi pat	13:07
<@NihabaAshi>	Both trade errors
<+szubaark>	exit stop moved to breakeven ES @ 848.50 «« paper »»
<+pat255>	hi szu	13:08
<+szubaark>	exit stop set ES @ 846.50 «« paper »»	13:09
	Covered all Short ES at 846.50 --> + 2 «« paper »»	13:10
	misplaced Stop by 1 Tick and shook me out LOL	13:13
<@NihabaAshi>	Long ES @ 842.75 -> small size	13:21
	2 only
	FEAR is a problem right now	13:24
<+pat255>	y
<@NihabaAshi>	Exited all ES Long @ 844.00 --> + 1.25	13:26
<+szubaark>	market needs to digest this latest quick, sudden drop	13:27
	Expecting Volatility to Drop HARD for a few intervals
<+silo>	wouldn't call it quit	13:28
	:)
	quick
	it took 1 hour
<@NihabaAshi>	Shorts ES @ 840.75 -> small size	13:32
	2 only
	Covered all ES Short @ 842.50 --> - 1.75	13:34
	Shorts ES @ 840.75 -> small size	13:35
<+szubaark>	Shorts ES @ 840 «« paper »»
<@NihabaAshi>	3 only
	punks
	Covered all ES Short @ 836.25 --> + 4.5	13:37
	A lot of price action games played since 1:30pm est	13:38
<LumenPharmer>	wtg
<+szubaark>	games everyday, too many
	i got shook out of a few good Shorts on this downfall, they know where the Stops are	13:39
<+silo>	will pick soon
	:)
<+szubaark>	tightenig stop
<+LumenPharmer>	take care all ;)
<+szubaark>	exit stop moved to breakeven ES @ 840 «« paper »»
	uh huh	13:40
	starting to feel crowded here at the bottom of the barrell LOL
<@NihabaAshi>	sneaky little booger right now	13:44
<+szubaark>	trying HARD to get my Stops	13:45
<@NihabaAshi>	Shorts ES @ 835.25 -> small size
	3 only	13:46
	Covered all ES Short @ 832.00 --> + 3.25	13:47
	Should'uv been Short @ 838.50	13:48
<+szubaark>	Pitstop at the Ovenight lows
<@NihabaAshi>	chased it by more than 3 points :(
	Poor entry
<+szubaark>	did u get a Pattern Entry at that Price or Hindsight?	13:49
<@NihabaAshi>	I'm done for the day...should have double my points today beyond current levels.
	Take care all and see all tomorrow.
<+szubaark>	tightening stop	13:50
	exit stop set ES @ 837.50 «« paper »»
	exit stop set ES @ 837 «« paper »»	13:55
	Covered all Short ES at 837 --> + 3 «« paper »»	13:56
	Paulson: Dont use bailout $$ for Big 3	13:59
	Shorts ES @ 835.25 «« paper »»	14:05
	Covered all Short ES at 835.25 --> 0 «« paper »»	14:10
<+silo>	Long YM @ 8176	14:11
	late ost
	2
	Exited 1/2 YM Long @ 8200 --> + 24	14:12
	Exited Remainder YM Long @ 8220 --> + 44
	Shorts YM @ 8197	14:21
	2
	Covered all YM Short @ 8220 --> - 23	14:23
<@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
<kosmipt>	long ES 839.00 paper
<+kosmipt>	out all ES 840.00 paper +1.00	14:27
	test	14:28
<+szubaark>	Shorts ES @ 837 «« paper »»	14:30
	exit stop moved to breakeven ES @ 837 «« paper »»	14:38
	Covered all Short ES at 837 --> 0 «« paper »»
	uh huh
	more chop[
	Shorts ES @ 833 «« paper »»	14:45
<@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>	trying again, shook me out on last
<+Nesi>	Shorts ES @ 829.00 «« paper »»	14:47
	Covered all ES Short @ 826.00 --> + 78 «« paper »»	14:51
	that is wrong, sorry
<+szubaark>	tightening stop	14:55
	exit stop set ES @ 828.75 «« paper »»
	Covered all Short ES at 828.75 --> + 4.25 «« paper »»	14:56
<+silo>	Shorts YM @ 8116	14:59
	1
	Shorts YM @ 8111 -> Add	15:00
	Covered all YM Short @ 8147 --> - 67	15:01
	mis-manage the trade :(	15:06
<+szubaark>	Shorts ES @ 835.75 «« paper »»	15:16
	Covered all Short ES at 840.75 --> - 5 «« paper »»	15:21
	Buys ES @ 843.50 «« paper »»	15:22
	Volatility increasing	15:23
<+codehead>	8320 is .618, and wave target at 8216, so that area a likely sell	15:24
	only made it to 8307 tho, so not in
<+szubaark>	yup 3:30 games begin
	Exited all Long ES at 838 --> - 5.5 «« paper »»	15:25
	Shorts ES @ 838 «« paper »»
	ok piggy, make up your mind where u wanna go LOL
<+ItalianSharp>	this is the classic type of speed we usually see when new lows are made	15:27
<+szubaark>	they got a bunch of Stops on this upspike	15:28
	now its brutal Chop	15:29
	cant make any money in that crap
	exit stop set ES @ 842.25 «« paper »»	15:31
	each new lows are quickly bought and we spike or chop	15:33
	exit stop set ES @ 840.50 «« paper »»	15:34
	Covered all Short ES at 840.50 --> - 2.5 «« paper »»	15:36
	Buys ES @ 842.25 «« paper »»	15:37
	this market loves to chop	15:39
	exit stop set ES @ 842 «« paper »»	15:42
	Volatility Increasing
* Kalle	is now known as Kalle_away	15:44
<+szubaark>	tightening stop	15:49
	exit stop set ES @ 842.75 «« paper »»
	tightening stop	15:54
	exit stop set ES @ 848.75 «« paper »»	15:55
	tightening stop	15:59
	exit stop set ES @ 851.50 «« paper »»
	they waited til last minute for this rally	16:01
	tightening stop	16:02
	exit stop set ES @ 856.50 «« paper »»
	putting Time Stop now
	exit stop set ES @ 861.25 «« paper »»	16:06
	exit stop set ES @ 862.25 «« paper »»	16:07
	Exited all Long ES at 865.25 --> + 23 «« paper »»	16:08
<@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 18 16:57:48 2008	16:51
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

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