#FuturesTrades December 5th Tuesday 2006 Trade Log
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ER2 EuroFX EC +15.60 +0.0000 $1,560.00 $0.00 Trading Perspective
I don't have much to say today other than it was a good trading day along with having the opportunity to discuss a few key things concerning my mentor, chart imagery and discipline.
Read chat log below to not miss out any important information.
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 December...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: Tue Dec 05 09:28:21 2006Session Ident: #futurestrades * Now 09:28 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <pat255> euro short? wondering 09:29 <NihabaAshi> I was bullish at the open until I saw what the Eminis are currently doing :( 09:32 <eminitrader> Long ES @ 1411.25 <NihabaAshi> Hopefully, they can push a little lower and setup something nicely for a safer Long position. 09:33 <Brutus> Long ER2 @ 797.1 09:36 Exited ER2 Long @ 798.1 --> + 1 <eminitrader> nice quikie B :) 09:37 <Brutus> Always time for a quikie :) 09:38 1000/1500 Oct Factory Orders -4.5% +2.1% 09:41 1000/1500 Nov ISM Non-Mfg Index 55.0 57.1 <szubaark-away> Shorts NQ @ 1803.50 «« paper »» 09:43 looking for test of globex low 09:44 <NihabaAshi> Everything is now in place...just waiting for a Long signal (pattern or intuition). 09:45 <szubaark-away> hopefully a WRB spike to upside wont Stop me out for 6+ points :(( 09:46 <eminitrader> looks like all indices r consolidating around here...waiting for the 10 am reports 09:47 <szubaark-away> exit stop set NQ @ 1803.50 «« paper »» Covered all Short NQ at 1803.50 --> 0 «« paper »» 09:48 too tight here <RussellDaytrade> an interesting occurance today on my IB charts... the price are skewed way up to the top portion of the price pane, on all three, er, nq, es. i have an 80ema set fro all three, and it is carried over from yesterday, somewhat, but i have never seen the charts so skewed... 09:50 it gives one the sense that prices are 'hanging up there', just waiting to fall... er 80ema at open was 783, nq 1782, es 1400, to give you a sense of how much 'space' is displayed below current prices. anyone else experiecning the same or similar? 09:53 <PapaJon> can you post a picture? <RussellDaytrade> sure, take a few minutes, multiple step process going from cpu to cpu. 09:54 <NihabaAshi> Market waiting for the 10am est key reports. 09:55 <eminitrader> Exited 1/3 ES Long @ 1412.75 --> + 1.5 09:56 <Brutus> Looks bearish to me. <NihabaAshi> Volatilty even across the board :( 09:58 <Brutus> Shorts ER2 @ 797.4 09:59 <NihabaAshi> Long ER2 @ 798.60 -> large size 10:00 <Brutus> Covered ER2 Short @ 798.3 --> - 0.9 <eminitrader> Exited 1/3 ES Long @ 1414.25 --> + 3 <szubaark-away> Buys NQ @ 1809.50 «« paper »» <NihabaAshi> Exited 2/3 ER2 Long @ 799.80 --> + 1.2 Exited ER2 Long @ 801.00 --> + 2.4 10:01 Holding 2 contracts <szubaark-away> Exited all Long NQ at 1811.25 --> + 1.75 «« paper »» nice Niha, emini <eminitrader> Exited Remainder ES Long @ 1417.25 --> + 6 <NihabaAshi> Exited ER2 Long @ 802.20 --> + 3.6 Holding 1 contract 10:02 I think I got the most out of that parabolic WRB. <szubaark-away> [09:33] <NihabaAshi> Hopefully, they can push a little lower and setup something nicely for a safer Long position. <PapaJon> yah.. very nice niha <szubaark-away> The 10am Report was the catalyst :)) <NihabaAshi> It usually is...its a money making time. 10:03 <RussellDaytrade> http://i138.photobucket.com/albums/q277/ RussellDaytrade2/r212-5-06.jpg?t=1165330 959 nq and es have similar aspect ratios 10:04 <NihabaAshi> Exited Remainder ER2 Long @ 799.00 --> + 0.4 10:05 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) <szubaark-away> Niha u trade the 8:30 reports at all? 10:06 <NihabaAshi> I use to often (reguarly) as you already know... Stopped due to family demands around the time of the 0830am est numbers are released. 10:07 <eminitrader> Shorts ES @ 1314.75 <NihabaAshi> I can be online and watch the price action at 0830am est...I just can't be trading it...far too demanding of my attention to trade it. 10:08 <eminitrader> Shorts ES @ 1415.75 -> Add 10:09 * fseitun is now known as ItalianSharp <szubaark-away> emin.. your calculation wii come out wrong as you have a 1314.75 instead of 1414.75 on first Short 10:10 <eminitrader> u right szu...not too worried abt that now Shorts ES @ 1414.75 repost <PapaJon> RusselDaytrdr... look in #eminifutures room <NihabaAshi> Shorts ER2 @ 789.90 -> small size 10:11 :( 10:12 Covered all ER2 Short @ 799.60 --> - 9.7 10:13 Ooops... Covered all ER2 Short @ 798.60 --> - 8.7 :) Problem was my Short entry post... 10:14 <Brutus> Dax up 1%, stong move on news <NihabaAshi> Should have said 798.90 <szubaark-away> YM strong TODAY <NihabaAshi> Exit 799.60 for -0.70 <szubaark-away> Buys NQ @ 1811 «« paper »» 10:15 <eminitrader> Covered all ES Short @ 1416.25 --> - 2 <NihabaAshi> Long ER2 @ 801.40 -> small size <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) 10:16 <szubaark-away> Exited all Long NQ at 1810 --> - 1 «« paper »» <NihabaAshi> I thought new intraday highs was in the cards. <szubaark-away> Shorts NQ @ 1810.25 «« paper »» 10:17 <NihabaAshi> Only if volatility rises and leaves that equilibrium it currently is at. <szubaark-away> geez.. real wiggly action :(( 10:18 <NihabaAshi> Exited all ER2 Long @ 802.20 --> + 0.8 10:19 * codehead_afk is now known as codehead <NihabaAshi> Got partialed on a lousy 3 contract trade :( I'm officially in profit protection mode after exceeding my goal for the day by 50%. 10:20 <szubaark-away> Nice Niha.. real nice trades. 10:21 <NihabaAshi> Small size only as in 1 contract for the remainder of the trading day. <eminitrader> Long ES @ 1415 10:24 Long ES @ 1414 -> Add 10:29 <szubaark-away> they struggling to keep this up here 10:33 exit stop set NQ @ 1810.25 «« paper »» 10:35 <Brutus> Shorts ER2 @ 800.5 <szubaark-away> could bounce here or we going DOWN <jperl> ER2 VWAP 799.36 10:36 <pat255> ty jp <szubaark-away> Covered all Short NQ at 1807.75 --> + 2.5 «« paper »» 10:37 <Brutus> Covered ER2 Short @ 800.0 --> + 0.5 Looking to short again 10:38 <eminitrader> trend is still long ..at least on the ES and NQ 10:40 <szubaark-away> emini its struggling 10:42 <eminitrader> true 10:43 <Brutus> Im looking at the large sell volume, contract hitting the bid <eminitrader> but hanging in there <szubaark-away> Buys NQ @ 1809.25 «« paper »» looking for bounce here <eminitrader> untill NQ breaks 1804.50 ...still on a uptrend 10:44 <RussellDaytrade> 795? 10:48 <Brutus> have a short bias and for shorts on ER the HOD was not far away as a stop <RussellDaytrade> hour or so from now? 10:49 <Brutus> If it does not break down now i think it may be one of those sidways action until the afternoon and a rapid selloff <szubaark-away> i just need a frikin 2-3 point bounce so i can move my Stop lol 10:50 <Brutus> Goundwork seems to be put in place <RussellDaytrade> i kinda agree with that overall theme, selloff at soem point, possibly not until the latter portion of day. 10:51 <eminitrader> will retest highs ...? 10:52 <szubaark-away> emin could also be a fakeout to upside.. just watching careful 10:53 pop..retrace then real pop 10:54 <eminitrader> up trend real szu ...so considering this move to be real unless it decides to chop.. 10:55 exit stop raised ES @ 1412.25 <szubaark-away> agree.. all indices are PLUS on day emini should go here.. they got their re-test 11:20 <Brutus> If Es does not break 1415.25 I would be pretty certain of my scenario 11:23 <pat255> looks like it efuses to... 11:24 <NihabaAshi> Compared to the Open and current price... 11:25 Not much has changed :( This is not typical December price action...so far. 11:26 There's usually more volatility and better chances to hold a position much longer without getting wiggled out of the trade. 11:27 <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) 11:28 <NihabaAshi> I'm hinting that its a month for me to look for a swing trade :) Between now and Dec 15th. <szubaark-away> Long? <NihabaAshi> Long or Short 11:29 Just waiting for a pattern signal for such. <pat255> niha your bullish bias panned out well ince nov <NihabaAshi> No biggie if it doesn't appear or I miss it... I can still day trade. <szubaark-away> Niha right now u think we retest highs next hour or so? 11:30 <NihabaAshi> pat255...October and November are the easiest trading months of the year for Emini Traders. It's been that way ever since the birth of the Eminis. Either, take Longs or position size so that your light on the Shorts and normal size on the Longs... 11:31 You'll have a good month of trading in October and November. It's historical tendency... I expect the same next year :) <szubaark-away> Niha just remind us.. i tend to forget :) 11:32 <Brutus> Would be very nice if we are coming of the lows next year <NihabaAshi> I do a lot of reminding about it in the few months prior at EliteTrader.com Usually get disbelieving comments or told "market seasonal tendencies" are useless. 11:33 <Brutus> Yes Niha I saw your post thanks <NihabaAshi> I've been using them since the 80's...don't plan on stopping anytime soon. <Brutus> Only I saw it after the Oct, Nov runup in 2005 11:34 <szubaark-away> Exited all Long NQ at 1809.25 --> 0 «« paper »» <Brutus> 2001, 2002 was a vey nice run in that time period 11:35 <eminitrader> Exited 1/2 ES Long @ 1415.25 --> + 1.25 11:38 <szubaark-away> emini they shook me out <eminitrader> still expecting a retest szu <pat255> me szu b/e ..requires emini patience 11:39 <Brutus> My call does not look good Will re-evaluate at 1300 11:40 <eminitrader> pat the key was holding supp @ 1412.50 on ES and 1804.50 on NQ ...confirmed the uptrend or at least a continuation...prolly a retest 11:44 <NihabaAshi> Going from part-time to fulltime changed my perspective about the markets...started making too many consistent poor decisions. <pat255> yes ...today not good for me ...just need to slow down...u are right that 12.5 was support <szubaark-away> jperl how is it going today? 11:48 <MaxMax> so how have handled the psychology part of the trading after finding toom many consistent poor decisions??? 11:52 <eminitrader> Exited Remainder ES Long @ 1415 --> 0 11:55 <NihabaAshi> MaxMax...it wasn't too difficult...I eventually started leaning on my instincts I developed from years of international sports competition and my military background. Concerning the psychological or discipline aspects of trading... 11:56 A lot of similarities to learning how to compete at a high level in sports. <MaxMax> ic... <Brutus> I was just about to say that Niha <NihabaAshi> I do a ton of "imagery" with my trading prior to going to bed and soon before the open. 11:57 <MaxMax> hope to talk about it further... i will be back in 20 min... <szubaark-away> Niha u go thru your trades in your head? <NihabaAshi> Yep...prior to making the trade. 11:58 <szubaark-away> You must have seen EVERY possible chart scenario there is in order to do that 11:59 <NihabaAshi> My goal is not perfection on every trade...that's impossible. <szubaark-away> especially after reading your Signal Patterns how detailed they are. <NihabaAshi> Remember how I said all I need is 2-3 good trading days each month. 12:00 <RussellDaytrade> i think we've seen the highs, and i expect the bounces from here to (further lose impetus), ie, think the trend has now defientelyu changed to down. <NihabaAshi> If I can get those 2-3 trading days...I don't mind struggling in my trading on the remainder days. <Brutus> Agree RD <szubaark-away> Basicly "knowing when to push it and knowing when to call it quits" 12:01 <NihabaAshi> Yep and you've seen me call it quits many times in here. <pat255> someimes wise thing to do... 12:02 <eminitrader> Long ES @ 1413.50 <RussellDaytrade> the er rallied up 30 points, 29 actually, in less then 2 days, (approx 1.5 tarding days)), shouldn't be a surprise to see a fair percentage of htat 29 point gain giveback, say, if its a third, thats about 10 bucks. just a guess there, that may be a conservative guess. 12:04 <Brutus> You still short in your swing trade RD? <RussellDaytrade> yes, ap of 791 +/- on two, also short 2 nq at approx 1791 or so, i forget the actual value, have to go check transcripts.... 12:06 since we're coming up to expiration, trying to evaluate whether we get a giveback prior to the ex. 12:07 <eminitrader> ES/NQ holding at key supp...if this breaks then look for good shortiopportunities 12:08 <RussellDaytrade> being too conseravtive in adding to it, i have to work on 'releasing' my 2 held allies from 'purgatory', in enemy hands. <eminitrader> Exited all ES Long @ 1412.25 --> - 1.25 12:09 <MaxMax> hello.all... i am back... 12:12 nihabashi...your 'in-person' mentoring made you a completely different trader? 12:13 <NihabaAshi> Yes...I learn the importance of our trading equipement, capital requirements, focusing on the causes of what we see in our TA or whatever. 12:15 <MaxMax> ic... 12:16 <NihabaAshi> I remember my mentor asking me to print out the charts of my most recent trades. I did and he immediately said that's not the charts of what you saw when you took the trades. I then scroll back on the charts and printed them to show the last price I saw prior to the trade... <MaxMax> wow...excellent point...then ? how you manage to imagine your picture of charts before it happens ?? 12:17 <NihabaAshi> He then said again...those aren't the charts you saw when you placed the trade. That's when I got confused. <MaxMax> yes...i believe so <NihabaAshi> He then said...print out what was on your screen...exactly the way it was when you took the trade. 12:18 <MaxMax> didn't you do that already? <NihabaAshi> For example...prior I had shown him a "maximized" chart of ZN treasury futures. What he wanted to see was my monitor setup just prior to the trade... Here's an example... http://www.thestrategylab.com/images/120 406NihabaAshiPnLBlotterProfit.png 12:19 <ItalianSharp> niha, tick replay would work just fine for what you are saying here <NihabaAshi> You see 8 charts, 5 times & sales windows et cetera... <MaxMax> ok... <NihabaAshi> That's what I see...not some single maximize chart that obviously look clear to where I "should" have bought and sold. 12:20 <Brutus> I use snagit to capture 15s screen shots, it save HD space compared to a real time recording <ItalianSharp> i always replay the market day tick by tick twice at the end of the day...so that i not only see what i saw when i took the trade but i also get to re-experience the same volatility, speed of the market <MaxMax> so you comingle every chart movement to come to one final decision? 12:21 <NihabaAshi> Thus, as soon as I take a trade...I do a quick screen capture...its setup auto in Snagit. Sponsor: <Brutus> Also its easier to jump to exact time periods <MaxMax> rather than pick one Time frame chart that comes as clear to you? <NihabaAshi> Yes...what we see on our screens has impact on our trade decisions. <MaxMax> ic <NihabaAshi> For example...someone at EliteTrader.com said they only use the CCI indicator. Yet, on his chart...there's volume and rsi. 12:22 He doesn't realize that volume and the rsi has a "subconscious" influence on his trade decisions. Simply, if he really on uses CCI...he needs to remove all that other stuff. 12:23 When he did that...he realized he wasn't only using CCI :) His trading habits or decisions had changed. Yet, he spent months at ET talking, learning about CCI... <MaxMax> wow...sounds very philosophical.... 12:24 <NihabaAshi> Never learning about the other stuff that was impacting his trading decisions. That reason alone is why I say how we setup our trader workstations has an impact on our trade decisions and trade results. 12:25 <MaxMax> so what you are saying is to preset a number of charts to use in trading and stick with them for decision, not changing charts when they seem not working ??? <NihabaAshi> Yes <MaxMax> just wait until the same charts tell us the right desion ? 12:26 oops..decision? <NihabaAshi> In addition...try hard to avoid learning the market from "hindsight charts" to paint a rosy picture. <szubaark-away> Niha u mention u'll take setups off 2min-5min-15min so u look at different timeframes <NihabaAshi> Best to learn from charts exactly the way the look on your monitor when you made that trade decision. <pat255> good point niha 12:27 <NihabaAshi> szu...I've gotten to the point in my career where I do a lot of "imagery" and interval blending is part of that experience. <MaxMax> i believe by practicing that we could remove much of hesitation in trading... 12:28 <NihabaAshi> For example, I can look at a 15min chart and have a good image of what's on the 3min or 5min chart without having the need to change chart intervals. This saves me a lot of time and is very useful when I'm using my laptop for trading instead of my desktops that have multiple monitors. <MaxMax> means...as far as 15 min and Lower TF says the opposite...it is takeable? 12:29 <szubaark-away> I always thought that your trading manuals are for someone with some heavy experience.. newbie will just ger overwhelmed <NihabaAshi> I often trade contradictions between different chart intervals... <szubaark-away> even hammers.. u need good knowledge of Volatility to trade those suckers <MaxMax> ic 12:30 <NihabaAshi> Meant...its not part of my methodology to take a position if it has support on a different time frame. <MaxMax> ok <NihabaAshi> The interval I see in front of me...I trade whatever I see regardless to what I may know is occurring on a larger or smaller time frame. However, when doubts creep in...I lower my position size. 12:31 <MaxMax> ok... <szubaark-away> right.. because Volatility appears and disappers just as fast <NihabaAshi> Yes. <MaxMax> control the situation by risk management, not by TF...take aggressively the opportunities coming to any TF.. <szubaark-away> Nija tell him about Risk Managment Niha uses Position Size Managment 12:32 <NihabaAshi> Some traders manage their risk via risk:reward ratios, money mangaement et cetera. 12:33 <eminitrader> Shorts ES @ 1415.25 <NihabaAshi> I tend to manage it via position size management. Actually, position size management is a form of money management if you really think about it. 12:34 <MaxMax> in broad sesnse aren't they similar ?? <NihabaAshi> Yes and no. <MaxMax> ic.. <NihabaAshi> I mean...how many traders uses the same size for every trade situation? I think many do. <szubaark-away> i remember "Woodie" using 1 point Stop and 1pt Target and his CCI.. that was my first introduction to Money mangment :))) <MaxMax> me too...i confess <NihabaAshi> I think this is a problem considering the market isn't the same every trading day. 12:35 Heck...its not the same every hour. <MaxMax> right <szubaark-away> Max whats your trading experience? 12:36 <NihabaAshi> Therefore, the same pattern signal that appears at 10:15am est and 2pm est should require different position size. <MaxMax> I am relatively still a newbie... about two years...still struggle... hope to get some help from you guys... i have tried every possible methodologies.... 12:37 <NihabaAshi> I do a lot of volatility analysis to help differenciating that different time periods of the trading day. <szubaark-away> :) <MaxMax> only to come to the conclusion of sticking to the same gun... learn the market through it... <NihabaAshi> YOu can also use simple stats to help with your bottom line. <MaxMax> that's is the lesson i have learned so far... how ? 12:38 <NihabaAshi> For example...lets say you have a win:loss ratio between 9:30am - 11am est of 79% and a win:loss ratio of 42% between 3pm - 4:15pm est... 12:39 <MaxMax> i have tried to stick to the trend following... but sometimes i found it very difficult..as i tried to buck the trend by taking stupid imaginary reversal pattern... only to be squshed.. ha ha... <NihabaAshi> That little stats edge should tell you not to do the same position size for those time periods. You now know when to increase and decrease you size. <MaxMax> ic <szubaark-away> MAx this takes years..u going against some hard nosed professionals 12:40 <MaxMax> ok... <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) <MaxMax> yes.. i believe so... learned it in a hard way... in a very hardened way... :-)) <szubaark-away> thing is Niha.. by that time most traders wont have the money for an account to do position size managment :)) <NihabaAshi> True :( 12:41 <MaxMax> Ha ha ha...:( <szubaark-away> due to the number of blow ups and bills stacking up and family disrispecting you :))) <MaxMax> :( <NihabaAshi> szu...I still get hackle about my first trade... A big 12k loss in two days in a penny stock :) 12:42 <szubaark-away> bigger your bank account, better your chances of making it. Its only money looool <MaxMax> ouch...!!!! that must be a pain...!! <RussellDaytrade> gates of hell are about to open, just need a little (volume) push. <eminitrader> Covered 1/2 ES Short @ 1413.25 --> + 2 <szubaark-away> Niha u beat me on that one!! emini super! 12:43 <eminitrader> thx szu ...wasw able to get in the change of trend <szubaark-away> Shorts NQ @ 1805 «« paper »» 12:44 <eminitrader> NQ still not able to break support @ 1804.50 12:45 if that was broken would have held a min of 4 pts for my pt 1 <szubaark-away> im looking for test of lows 12:46 <eminitrader> now yes supp broken :)) <szubaark-away> will take profit on any volatility spike down 12:47 <eminitrader> yeah kinda tough making money on the short side in this mrkt 12:48 NQ prolly pullback 1808-1810 area and take out stops before heading south 12:49 <szubaark-away> ER pushing lower 12:50 <eminitrader> hope NQ/es head south ES done with the pullback...not yet on NQ sfter break of supp 12:51 NQ pullback holding up the ES form heading south .....looks like its shaking out weak handstakin 12:54 Shorts ES @ 1415.25 -> Add 13:00 <codehead> Qm bounced back to 63.00 13:03 <NihabaAshi> Long ER2 @ 799.10 -> small size 13:17 I see the volatility but the price action isn't responding as I expected :( 13:18 ER2 should be t 799.80 by now. <eminitrader> facing res here niha ..if this level breks then prolly see good volatility <RussellDaytrade> market dodged a bullet back there. the bears missed a good opportunity to make a swift dent, must be out doing their xmas shopping. <eminitrader> es / nq still in downtrend till 1416.25 and1812.50 r broken 13:21 <Brutus> Down now or never <NihabaAshi> Exited ER2 Long @ 798.60 --> - 0.5 Reverse and Enter Short ER2 @ 798.60 <RussellDaytrade> seems like the typr of day where tere'll be a 5-6 point swift downmove in the er. 13:22 <NihabaAshi> Covered ER2 Short @ 727.20 --> + 71.4 13:25 Oooopss... <pat255> vn niha could not reverse.. <NihabaAshi> Covered ER2 Short @ 797.20 --> + 1.4 I should have reversed around 798.80 when the volatility dropped. 13:26 <Brutus> RD holding for your target :) <NihabaAshi> Got caught doing some "wishful thinking". <RussellDaytrade> which target brut/ 13:29 ? <Brutus> 793, I am short 798.9 Stop at BE <RussellDaytrade> 795? ok!, you going to try and hold it through thick and thin, relatively speaking? and only close if it touches stop losss or a preferable profit target?? 13:31 manage first, talk later <eminitrader> be back ...stops in 13:34 <RussellDaytrade> brut, in a general way, take a look at the major uptrend today, there are 3 of them, (the last actually was comprised of two little ones, with a downside break), if one draws uptrend lines beneath all the uptrends, it can be seen that they are 'rolling-over', alomost like a wave cresting and breaking. 13:37 <Brutus> Out at +1 13:38 <RussellDaytrade> usually when this 'flattening' type action occurs, (and it usually occurs after a run, when the market starts to decline fro real off of it, it does so rather quickly. 13:39 i will be out for most the rest of day, will stay logged on, but will be out 13:40 <Brutus> YEs RD, Also when that ES channel breaks <RussellDaytrade> yes, this condition is often conducive to that 5-6 point downmover. cyou later. 13:41 <szubaark-away> Covered all Short NQ at 1807.50 --> - 2.5 «« paper »» 13:44 stupid trade during lunch not worth the stress <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) 13:49 <eminitrader> Covered all ES Short @ 1415.25 --> 0 14:11 <szubaark-away> i got to leave.. good trading to rest of you 14:25 <eminitrader> later szu 14:26 Sponsor: <pat255> c u all am ..ty all 15:54 <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) 16:10 <NihabaAshi> Take care all...it was a good day of trading and not too stressful for me. 16:15 <Brutus> cul8r <NihabaAshi> Something I needed after the long days on Thurs and Fri of last week at the hospital :) 16:16 * NihabaAshi is now known as NihabaAshi_away * DisconnectedSession Close: Tue Dec 05 16:20:55 2006 16:20
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