#FuturesTrades November 24th Friday 2006 Trade Log
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ER2 EuroFX EC +10.80 +0.0000 $1,080.00 $0.00 Trading Perspective
Today was an ugly trading day in which I made most of my profits one one winner that had some size and it easily compensated for the small losers on several small size trades.
The good thing was that my winner exploited the bullish tendency that tends to occur the first trading day after a Thanksgiving Holiday.
Simply, the day was saved by position size management and market seasonal tendency.
Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of November...click here. To see results for the months of 2006 and prior years...click here.
Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.comNote: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and such is represented by a particular type of price action from one of the key markets. You can view the charts and their clues that's associated with the key price action at our key market archives.
Session Start: Fri Nov 24 09:29:06 2006Session Ident: #futurestrades * Now 09:29 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <pat255> gm all large gap... 09:32 <NihabaAshi> Long ER2 @ 790.30 -> medium size 09:35 The volatility is extremely low as expected...I won't hang around too long with this type of volatility. 09:37 Exited ER2 Long @ 789.70 --> - 0.6 09:39 Reverse and Enter Short ER2 @ 789.70 Covered ER2 Short @ 790.40 --> - 0.7 09:43 Reverse and Enter Long ER2 @ 790.40 Partials into that large size position...790.40 was the most I paid. <ItalianSharp> price action sucks today...low volatility, small range...lots of dojis...and no news coming up to move this thing...probably all traders are shorting the US$ 09:47 Trading Edge: Trading Strategies -> These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: Emini Index Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI) <NihabaAshi> Exited ER2 Long @ 789.20 --> - 1.2 09:50 Reverse and Enter Short ER2 @ 789.20 Covered all ER2 Short @ 788.90 --> + 0.3 Long ER2 @ 789.30 -> large size 09:52 <ItalianSharp> looks like ER2 went down and try to stop hunt niha 09:53 <WannaBeBOS> yep <ItalianSharp> very tough price action to interpret though <WannaBeBOS> he is a moving target it seems haha 09:54 <pat255> mkt still digesting the turkey ..feels a bit heavy.. <szubaark> Buys NQ @ 1815 «« paper »» 09:55 <ItalianSharp> why didnt they just keep the market closed today? 09:58 <pdays> greed 09:59 <ItalianSharp> it makes no sense to open the market on friday with this type of price action...jsut take the long weekend and lets all come back on monday very hungry <szubaark> exit stop set NQ @ 1815 «« paper »» 10:00 NQ pushing this up <NihabaAshi> Exited all ER2 Long @ 791.20 --> + 1.9 10:02 <szubaark> Exited all Long NQ at 1818.25 --> + 3.25 «« paper »» <ItalianSharp> well done niha...you closed all positions because you dont trust today's price action? 10:04 <NihabaAshi> Yes...pops to the upside for no reason can easily reverse and retrace. Meant...there was a valid pattern signal but I need to know why... 10:05 There's no why other than a market tendency to go up on the day after thanksgiving. I'm profitable but only because I had the right size on the biggest winner. 10:06 <pat255> vn niha ... 10:08 <NihabaAshi> Shorts ER2 @ 791.40 -> small size 10:09 Shorts ER2 @ 791.90 -> Add 10:11 Still a small size position. Shorts ER2 @ 792.00 -> Add 10:12 Still small...3 contracts total 10:13 I'm in profit protection mode...small size only for the remainder of today. Covered 1/3 ER2 Short @ 791.70 --> + 0.3 10:14 Covered 1/3 ER2 Short @ 791.90 --> - 0.0 10:15 That's a breakeven on that contract (slippage fill) 10:16 :( Covered ER2 Short @ 792.00 --> - 0.6 10:18 Reverse and Enter Long ER2 @ 792.00 Long ER2 @ 792.80 -> Add small size...2 contracts total. 10:19 Volatility was declining prior to the pop to the upside again...reason why I reversed my losing Short into a Long position. 10:20 <szubaark> Buys NQ @ 1819.25 «« paper »» <ItalianSharp> you think they'll close the gap at 95 niha? <NihabaAshi> Exited 1/3 ER2 Long @ 793.60 --> + 0.8 10:21 <szubaark> exit stop set NQ @ 1819.25 «« paper »» <NihabaAshi> Holding 1 contract. <szubaark> slow, controlled buying til the gap close 10:24 <RussellDaytrade> Shorts ER2 @ 793.6 «« paper »» 10:25 tiered short at 1.5 point scale <NihabaAshi> Exited Remainder ER2 Long @ 794.40 --> + 2.4 10:27 <szubaark> Exited all Long NQ at 1822 --> + 2.75 «« paper »» 10:28 Sponsor: <RussellDaytrade> Shorts ER2 @ 794.6 -> Add «« paper »» 10:29 <NihabaAshi> If it wasn't for that stop runner (pick pocketers) they did around 0949am est... 10:30 I would be up big today in comparison to current profits being normal. 10:31 Everybody all week knows about the market having a tendency to be bullish the day after Thanksgiving... 10:32 Finding a good spot to go Long and holding on is an entirely different story. <RussellDaytrade> target of 792 in approx 46 from high, maybe a bit faster today. 10:33 maybe a bit more also. <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 10:36 <NihabaAshi> Volatility declining again...most likely setting up for another volatility spike. 10:37 I think I'm going to call it quits right here, bank my profits and enjoy the remainder of the holiday. 10:38 * NihabaAshi is now known as NihabaAshi_away <pat255> not a bad idea Niha 10:39 <NihabaAshi_away> Yep...especailly after that stop runner and my last few trades I didn't know what size I had total (got confused). 10:41 Thought I had 3 contracts and then saw 2 then realized it was 3...head not in the game...time to stop. 10:42 <szubaark> Niha u trading tomorrow? 10:43 <NihabaAshi_away> Tomorrow is Saturday ? Sorry... 10:44 Ok...needed to verify my datas... Tomorrow is Saturday :) I'm not trading :) <pat255> szu ....time for coffee...:) 10:45 <NihabaAshi_away> I think szu and I need a big cup of coffee :) <szubaark> yup.. im all messed up today..checking my dates also :) <NihabaAshi_away> The GAP is closed. 10:52 <RussellDaytrade> Shorts ER2 @ 795.4 -> Add «« paper »» <Brutus> Shorts ER2 @ 795.7 «« paper »» 10:53 Covered ER2 Short @ 795.1 --> + 0.6 «« paper »» 11:02 <RussellDaytrade> brut, i think that the fact that 795 was achieved on this run may be indicative that we go lower from here, ie, stops hit and taken out at that round number, prior to a decline. 11:10 <Brutus> Yes, I think limits of the day are in 796.5 was HOD on 22nd so that ...as I type 11:11 For last stops 11:12 For the first time since April 2005, the euro broke through the $1.30 and kept moving well above that level; concerns over lagging economic growth in the U.S. continued as the dollar fell to as low as 115.61 yen from 116.27 yen. 11:18 <WannaBeBOS> happy holidays folks 11:22 take care all <ItalianSharp> the greenback is in trouble 11:23 <Brutus> Yes US index foreign inflows will slow 11:24 Fed will have to raise rates 11:25 Put on a short position, hold till Oct 2007 :) 11:26 <pat255> yes looks like ...consumer is tapped as usual except the very rich 1% <Brutus> I have lost about 4% in AUD/US in the last 2/3 months. 11:35 <RussellDaytrade> ap = approx 794.6 on 3 is that from trading, or some devaluation? <Brutus> Devaluation 11:36 in USD <RussellDaytrade> so the AUD is devaluing at a faster rate then the USD? <Brutus> No USD is my account is in USD 11:37 <RussellDaytrade> i was just wondering about that yesterday, whether you had to convert your account into USD in order to trade the US index futures, etc. 11:38 <Brutus> I have made about 18% on my account in the last 3 months 11:39 Yes wired money to set it up <RussellDaytrade> is that mostly trading the ER brut, or you mix in the other indexes also? 11:44 <Brutus> Yes on the ER. I moved from trading the ES about 4 months ago. 11:45 <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 11:48 <RussellDaytrade> i'm thinking about trading the NQ, still atking my signals from ther ER, as i am accustomed to reading the market moves from it. to help get me in the market and trading more often, with less concern when it moves against my trades, (lower drawdown volatility. 11:50 <Brutus> Look at the NQ today and its last move at 11:11, a ER short went less against you arount the top 11:53 Which I see a lot with the ER 11:54 So sometime for counter trend traders the ER can be better <RussellDaytrade> i'm going to do some more research on it, track it intraday on direct compaison, get a feel for the correlations/lags/divergences. divergences may in fact present opportunities... 12:00 <Brutus> Yes, indeed. 12:01 <RussellDaytrade> if one has a tendency to lead over the other, and one is leading down, for example, and the other has yet to respond, could allow for a little greater 'reaction' time for one to place a trade, on the laggard, etc 12:02 <Brutus> I thought you watch divergences? AAPL on steroids today. 12:04 <RussellDaytrade> usually between the er and the dow 12:05 <Brutus> Ask santa for two 30" monitors, then you can watch everything. :) 12:06 <RussellDaytrade> there we go, anothe buck or so and that will suit me. 12:07 ok. het, i heat that Santa is hanging out in AUS, and trading the er!.... Dear Santa... 12:08 lowest volume of the day right now. 12:09 i think it resolves itself to the downside today. 12:10 <Brutus> Futs close at 1330? 12:11 Close at 12:15 12:12 (CME Equity Indexes) <RussellDaytrade> index futures, floor trading and globex close today at 12:15, central time. approx an hour from now. stock exchange 15 minutes earlier. 12:16 Sponsor: <wizardofrijnsaterwou> have a good weekend, till monday 12:18 <RussellDaytrade> had the right idea on those trades, beagn from too early and too low a price. 12:19 <Brutus> Best odds was for long trades near theopen 12:24 All shorts are risky on these 1/2 days with historic bullish bias 12:26 It ramps like it did with little pullback 12:27 So why did I do 3 short trades today to end at BE. My best trade, and order to go long got no fill 12:28 <RussellDaytrade> nq and er divergenging now, nq seems to be wanting to go down, er resisting. 12:40 Covered all ER2 Short @ 794.3 --> + 0.4 «« paper »» 12:57 <X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 13:00 <RussellDaytrade> like to have held out for more, too long in the trade, and felt my entry overall was not price and time efficient. prefernce is to reduce risk. you can look horribly wrong for hours, tehn in an insatnt look golden. 13:01 <yo> gn and a good wk all 13:03 <Brutus> Interesting close. Cu Monday 13:16 <RussellDaytrade> so long. * DisconnectedSession Close: Fri Nov 24 14:31:08 2006 14:31
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