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#FuturesTrades December 18th Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+13.40	+195.00	+3682.10
$1,340	$19,500	$368,210

Profitable Trade

1011am - 1015am est

Losing Trade

1406pm - 1409pm 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.

* DisconnectedSession Close: Tue Dec 18 09:18:41 2007

Session Start: Tue Dec 18 09:29:19 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:29

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

<ripsboy> gm all... 09:30

<pat255> gm all...

<Awash> gm all 09:31

<Nesi> Long ER2 @ 750 «« paper »» 09:32

<pat255> gm all... 09:33

@office ...:( 09:34

<drt> gm everyone

<eminitrader> Shorts ES @ 1467.75 09:35

<Nesi> Exited all ER2 Long @ 750 --> 0 «« paper »» 09:36

<NihabaAshi> Shorts ER2 @ 749.90 -> large size 09:37

<Nesi> Long ER2 @ 750.70 «« paper »» 09:39

<les> Shorts ER2 @ 750.2 «« paper »» 09:40

<rickf> long es 1465.75

<les> Covered 1/2 ER2 Short @ 748.8 --> + 1.4 «« paper »» 09:41

<Nesi> new fed mortages rules news, fwiw

<eminitrader> Covered 1/3 ES Short @ 1465.25 --> + 2.5 09:42

<Nesi> Long ER2 @ 749 -> Add «« paper »» 09:43

<les> Covered Remainder ER2 Short @ 749.8 --> + 0.4 «« paper »» 09:44

<NihabaAshi> Covered ER2 Short @ 749.50 --> + 0.4

<domvert> b YM 13316 09:50

<eminitrader> Covered 1/3 ES Short @ 1465.75 --> + 2 09:51

<szubaark> nice emini

<eminitrader> thx szu ...hld 4

<szubaark> Stop?

<eminitrader> 2 tick - 1468.25 09:52

now @ 66.75

Covered Remainder ES Short @ 1466.75 --> + 1 09:53

<pat255> vn em...good start

<NihabaAshi> Long ER2 @ 750.20 -> medium size

<eminitrader> thx pat

<NihabaAshi> entry problem on that one...should have been long around 749.80 09:54

<pat255> setup on 2 min chrt N? 09:55

<eminitrader> Shorts ES @ 1467.25

<domvert> out YM+20

<NihabaAshi> 1min

<eminitrader> 2 only

<Nesi> Long ER2 @ 751 -> Add «« paper »» 09:56

<eminitrader> intresting scenario...ym wanting to pull es while nq wanting it down...nice tug of war 09:57

<NihabaAshi> Exited all ER2 Long @ 750.30 --> + 0.1 09:59

that entry problem was costly :(

<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) 10:01

<NihabaAshi> Long ER2 @ 750.70 -> small size 10:04

<eminitrader> Covered 1/2 ES Short @ 1466.25 --> + 1

exit stop set ES @ 1468.25

that wld make this a b/e trade if hit

<NihabaAshi> Exited ER2 Long @ 749.80 --> - 0.9 10:06

<szubaark> Buys ES @ 1464.75 «« paper »»

Exited all Long ES at 1464.75 --> 0 «« paper »» 10:07

Shorts ES @ 1464.75 «« paper »» 10:08

<NihabaAshi> Shorts ER2 @ 749.50 -> medium size

<base> GM all 10:09

<NihabaAshi> Covered all ER2 Short @ 749.40 --> + 0.1

:(

<szubaark> Covered all Short ES at 1464.75 --> 0 «« paper »» 10:10

* Looking up ymER2 user info...

<szubaark> :((

<NihabaAshi> Shorts ER2 @ 748.30 -> medium size 10:11

that's a chaser (frustration trade)

Will take a break from trading after I close this position

<eminitrader> missed exut by 1 tick :(

<szubaark> yeah they were holding it good before this small down spike :( 10:12

<eminitrader> Covered ES Short @ 1462.75 --> + 4.5

Reverse and Enter Long ES @ 1462.75

<robert> Long ES @ 1462.50 -> small size 10:13

<eminitrader> Exited all ES Long @ 1461.75 --> - 1 10:14

<NihabaAshi> Covered all ER2 Short @ 746.20 --> + 2.1 10:15

<eminitrader> Long ES @ 1461.25

<robert> Long ES @ 1461.50 -> Add 10:17

<szubaark> Buys ES @ 1461.25 «« paper »»

<eminitrader> Exited 2/3 ES Long @ 1462.25 --> + 1

hld 2

<szubaark> Exited all Long ES at 1462.50 --> + 1.25 «« paper »» 10:21

<eminitrader> Exited ES Long @ 1463.25 --> + 2 10:24

hld 1

<robert> Exited 1/2 ES Long @ 1462.50 --> + 1 10:33

<szubaark> Shorts ES @ 1462.25 «« paper »» 10:34

<KiwiRoo> gday guys..

<eminitrader> yep

u leaving ?

<KiwiRoo> as in.. good day.. good morning.. :P

<Satish> Morning everyone 10:35

<eminitrader> u british ?

<KiwiRoo> no no.... I'm in australia..

<eminitrader> Exited Remainder ES Long @ 1461.25 --> 0

<szubaark> exit stop moved to breakeven ES @ 1462.25 «« paper »»

<eminitrader> shld have known by ur nick..:))

<KiwiRoo> :P 10:36

<Satish> nice short szu...you can riide it

<KiwiRoo> say hello 1457.

<eminitrader> k szu ..downtrend now confirmed,,but keep in mind gap needs to be filled

ignore guys ..was to be a pm 10:37

<szubaark> Covered all Short ES at 1458.25 --> + 4 «« paper »» 10:39

<eminitrader> nice one :)

<KiwiRoo> Nice trade...

<szubaark> thanks.

<Satish> cool szu

<KiwiRoo> time to switch to real money... szu. :P

<Brutus> g1 szu

* Looking up ymER2 user info... 10:40

<robert> Long ES @ 1459 -> Add

<KiwiRoo> damn... 1457 is now running away from me...

-> *X* BAN #FuturesTrades *!*@*.internode.on.net 10:41

<eminitrader> well u gotto let it know the poop time :)

* Timer 1 activated

1 halted

* Retrieving #futurestrades modes... 10:42

<KiwiRoo> true that.... I think my levels are all off due to the adjustment from the rollover.. :(

<Satish> Short ES 1459 10:44

<KiwiRoo> wow.. this is tape is pretty fast... 10:46

<Nesi> NQ very weak

<KiwiRoo> come on.. 57;... .

we++

<Satish> Cover ES 1457.5 +1.5

<Brutus> u gonna miss it for .5 10:47

<KiwiRoo> nah.. I got filled at 0.25 :P 10:48

<Satish> thats ok

<Brutus> cool

<KiwiRoo> we might transit into a buy (trend) on the break of 62... 10:49

<eminitrader> my chart says 64...we brek that ..high probability new higs

<Brutus> 7850 was n5ce dax s4/SS /SS 6rt

nice dax support 10:50

<KiwiRoo> this area is pretty heavy i reckon.. (60-62).. 10:51

<robert> Exited 1/3 ES Long @ 1460.50 +.0 --> + 0 + 1460.50 +.0 - 1459 10:52

<eminitrader> looks like we migh get to mid 30 today 10:53

<szubaark> Shorts ES @ 1459 «« paper »»

<eminitrader> if we see new lows 10:54

<szubaark> exit stop set ES @ 1460.75 «« paper »»

<Brutus> yes day looks ugly, but volume is light

<szubaark> Covered all Short ES at 1460.75 --> - 1.75 «« paper »»

<eminitrader> true B

<KiwiRoo> 30 would be nicee..... trend and I are bestfriend. :P 10:55

<eminitrader> looks like ym nq es consolidating in this area

<szubaark> Shorts ES @ 1460 «« paper »»

<KiwiRoo> I'm sure its trying to go above... but heavy heavy resistance right now around 60-62.... 10:56

<eminitrader> well all the way to 1464...cld test that area given the light vol

<szubaark> exit stop set ES @ 1461 «« paper »»

Covered all Short ES at 1461 --> - 1 «« paper »» 10:58

<Nesi> buyers showing up..imo

<eminitrader> Shorts ES @ 1462 10:59

<KiwiRoo> yep..... 1051 cars buyer.. jee+

<eminitrader> will add to 1463.75 11:00

5 lot this

<KiwiRoo> jee.. this is wild... 11:03

<eminitrader> be back guys....smoke time:) 11:05

<robert> Exited 1/3 ES Long @ 1461.75 --> - 0.75

<KiwiRoo> enjoy your puff (¯_¯_¯_¯(¯_¯_¯_¯_¯_¯(¯_¯_¯_?¯_a¯_?¯_l¯_b ¯_o¯_r¯_o¯_¯_¯_¯_¯()? <

opps....that didn't come out right..

* Looking up KiwiRoo user info... 11:09

<szubaark> Shorts ES @ 1461.25 «« paper »»

<NihabaAshi> Question for the AHG method traders in here... 11:10

Is Anek (method designer) on vacation??? 11:11

<eminitrader> Covered 2/3 ES Short @ 1460 --> + 2

<Brutus> no he's in the ahg chat

<NihabaAshi> Ok...thanks. 11:12

<eminitrader> kinda late

<KiwiRoo> anek is here.

he's in his room.

<eminitrader> well not to late got filled a min ago

<KiwiRoo> oh... opps... didn't see brut reply :P

<NihabaAshi> Ok...in case anybody in here that didn't know Anek has a room setup...

<eminitrader> hld 2

<NihabaAshi> It's #ahg

He talks about his method at ET via the following link... 11:13

<KiwiRoo> yup..

<NihabaAshi> http://www.elitetrader.com/vb/showthread .php?s=&threadid=99283 11:14

<KiwiRoo> nice.. shorting btw.. em.

<eminitrader> thx k

<NihabaAshi> Shorts ER2 @ 747.90 -> small size 11:15

<Satish> short ES 1459.50 11:16

<KiwiRoo> we might be going back to 57.. rofl...

<NihabaAshi> Covered 1/2 ER2 Short @ 747.10 --> + 0.8

<szubaark> getting real jumpy 11:18

<KiwiRoo> very 2sided..

<szubaark> tough to stay in a trade without Perfect Entries.

Covered all Short ES at 1459.75 --> + 1.5 «« paper »» 11:19

<KiwiRoo> yeah... what is ur stop size (normally)?

<eminitrader> agree szu...light vol causing too much noise

<NihabaAshi> Covered Remainder ER2 Short @ 747.50 --> + 0.4

<szubaark> 2-3 Points 11:20

<eminitrader> Covered Remainder ES Short @ 1560 --> - 98

oops

Covered Remainder ES Short @ 1460 --> + 2

<NihabaAshi> Lost my patience in that trade...easy to do when I keep thinking about lunch.

On that note...I'm going to lunch...be back later.

* NihabaAshi is now known as NihabaAshi_away

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)

<KiwiRoo> enjoy niha. 11:21

<Satish> Covered ES 1460 -.5

<Brutus> good trade emt

<eminitrader> wow 5 piont stop in this mrkt ?

thx b

<Satish> broke finally 11:22

hmm....

<KiwiRoo> are you kidding me!! this market is nuts... 11:24

<Trader222> I'm glad someone else besides me thinks so :)

the last week i've done so few trades

<eminitrader> well mrkts are always crazy 11:25

<Trader222> optiontrding fine; but index trading very few

<KiwiRoo> it's been so choppy lately...

and yeah..option exp this week... hmm.. maybe thats why.

<eminitrader> well thats one charecteristic of the mrkt

its just that some days u read it to perfection ...some days u domt and most days it shakes u out allthough ur read was correct..guess it all ends up with ur discipline/pateince to stay thru the noise 11:28

<KiwiRoo> totally agree on that note. 11:29

<eminitrader> classic ex is my last trade - read the flow right ...had agreat entry ...but no patince got out early :(

<Satish> short eS 1457.25 11:30

<KiwiRoo> yup..... hehe....

<eminitrader> that trade wld have netted me 1k or more ..rather than the 500 i got out of it

<KiwiRoo> breake of 57 and we see 54.

<rickf> exited es long at 1462.75 -3pts 11:31

* rickf stopped out while @ gym

<KiwiRoo> stops are being hit just then..

<Awash> interesting to see how price will react if we test PDL 11:32

<eminitrader> well i think we see mid 1430 next...maybe late today

<KiwiRoo> yeah... either they will try to hold or institution buyers will come in to push it lower.. 11:33

instution Sellers** 11:34

hmm.. that previous move was nothing more than just stops run over.. :( 11:35

<Awash> typical PA near LOD, some covering of shorts 11:36

<eminitrader> price action has changed the mrkt structure ..change of trend now @ brek of 1463

<silo> [11:35] <silo> THIS IS FOR ANYONE WHO TRADES THE ER2 11:37

[11:35] <silo> http://www.themoneyblogs.com/eminis/my.b log/er2-from-cme-to-ice-.html

[11:35] <silo> ER2 might be moving to ICE from CME

[11:36] <silo> that article explains how it will affect ER2 in the future

[11:36] <silo> and us traders

[11:36] <silo> tradestations i think just started the NYBOT exchange data service.... so we can trade er2 in the future i think if we subscribe to that data

[11:36] <silo> as opposed to 25 bucks CME data which we are already p aying

[11:36] <silo> :(

[11:37] <silo> the move from CME to ICE may also change the behavior and volume on ER2 drastically

<eminitrader> this occured with the brek of 1457.25 @ around 11 : 32 est 11:38

<Satish> cover ES 1456.25 +1 11:46

<Awash> volume taking us lower 11:49

<KiwiRoo> oh well... 54 broken.... 50.75 next... 11:51

<pdays> Long YM @ 13325 11:54

<eminitrader> k es shld find some support here ..forr a bounce 11:58

1446-1448 area 11:59

<KiwiRoo> I need to find levels under this areas now... didn't have them up..... 12:01

<eminitrader> Long ES @ 1448

<KiwiRoo> i can't see support until.. 1445.25.....hmmm.. 12:02

<Andy> Long ER2 @ 739.6

<eminitrader> Long ES @ 1446 -> Add 12:03

<KiwiRoo> it tanked there or what....

<szubaark> Buys ES @ 1447.50 «« paper »»

<Andy> Exited 1/2 ER2 Long @ 740.6 --> + 1 12:04

<eminitrader> Exited 1/2 ES Long @ 1449 --> + 3

<rickf> good call em

<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)

<eminitrader> thx r

but remember trend still id down guys 12:05

<Andy> Exited Remainder ER2 Long @ 741.1 --> + 1.5

<szubaark> Exited all Long ES at 1449 --> + 1.5 «« paper »»

<KiwiRoo> amazing how you can take counter trend trade so easily... nice going...

<eminitrader> Exited 1/3 ES Long @ 1450 --> + 2 12:07

hld 1

<KiwiRoo> I'm going for a nap.... back later...

<pdays> Long YM @ 13200 -> Add 12:08

<Awash> nice trade guys

<eminitrader> Exited ES Long @ 1451 --> + 3

Reverse and Enter Short ES @ 1451

<Awash> good bounce at S1 area

<eminitrader> si ?

s1

<Awash> S1 = 1448.50 area 12:09

<Brutus> nice catch emt

<eminitrader> thx b 12:10

k thx A

<Satish> shor es 1459.75

1450.75 12:11

<eminitrader> Covered 1/2 ES Short @ 1449 --> + 2 12:14

Covered 1/3 ES Short @ 1448 --> + 3 12:15

<bulldog> Long ER2 @ 739.40 «« paper »»

<Satish> Cover ES 1448.75 +2

<eminitrader> Covered ES Short @ 1448 --> + 3

Reverse and Enter Long ES @ 1448

thats a 2 lot only

<rickf> glad u have the stomach to go long today em.....you're a braver guy than me :) 12:17

even briefly

<eminitrader> my longs were 5 on the previous and 2 now r...not much compared to 10 lot sells

<rickf> yah that i agree with.....sell-bias these days for sure 12:18

<szubaark> we are due for a pullback and lunch also

<eminitrader> Exited 1/2 ES Long @ 1450 --> + 2 12:19

<Trader222> my thoughts on long there at 1446-7 was that its 20pts lower that today's open at 1466-7 12:20

for some reason, ES at 20pt increments tend to have reactions

<eminitrader> dont know abt that ...but 46-48 was my support area 12:21

* codehead_afk is now known as codehead 12:22

<Trader222> eminitrader well we both say the same # but for different reasns

saw 12:23

<eminitrader> :) i dont care abt the reasons ...as long as it makes a move in our direction :))

<Trader222> so far, all sideways moves today have lead to move selling 12:24

lets see if 1450 breaks that trend

if so, we could pop to 1456-7 pretty quick

<eminitrader> trend wld now change only if 1460 is taken out 12:25

<Trader222> to break Fri, Mon and today's down trend, we need a close over dow 13,250

* Trader222 out most of my long here 12:26

<Trader222> 1452-52.50 has overhang

nervous longs it feels like 12:32

<rickf> sure loves the 51-52 range

<bulldog> Exited 1/3 ER2 Long @ 741.50 --> + 2.1 «« paper »»

<eminitrader> flow as expected..will prolly see a pullback 1454-1455 area 12:33

1453-1454 area

<Trader222> all out long 12:34

but didn't take the 52 reverse short

looking to get back long

* sep34 is now known as sep34-away 12:37

<rickf> wow ask volume just spiked on the es 12:41

but didnt last

<bulldog> Exited 1/3 ER2 Long @ 742.70 --> + 3.3 «« paper »» 12:45

<rickf> nice bulldog 12:46

<bulldog> thx r 12:47

<eminitrader> Exited ES Long @ 1453.25 --> + 5.25 12:49

Reverse and Enter Short ES @ 1453.25

will add on upto 1457 ..this is 5 lot

<pdays> Exited all YM Long @ 13227 --> - 71 12:50

<[1]Satish> test 12:51

<pdays> wrong 12:52

<eminitrader> Covered 2/3 ES Short @ 1552 --> - 98.75 12:53

oops

Covered 2/3 ES Short @ 1452 --> + 1.25

hld 2

<silo> haha

:D

i was gonna say

that's going to be a record loss that's tough to beat for years to come 12:54

<eminitrader> still see some upside

<rickf> nah he held the contract since 2003 :)

* [1]Satish is now known as Satish

<eminitrader> prolly make it up in 2-3 months

<silo> :P 13:00

anyone here uses any indicators?

not as entry signal

<rickf> a few - still playing with them

<silo> but to help confirm trend

rickf: which ones

<rickf> ema/sma, macd, keltner channels 13:01

just started using ema/sma late last week

* NihabaAshi_away is now known as NihabaAshi

<eminitrader> Covered ES Short @ 1449.75 --> + 3.5

hld 1 13:02

<Satish> short es 1450

<NihabaAshi> Shorts ER2 @ 741.60 -> small size

<rickf> but trying to use a more keep it simple approach 13:03

<NihabaAshi> Covered ER2 Short @ 742.30 --> - 0.7 13:06

Reverse and Enter Long ER2 @ 742.30

<Satish> cover 1452.25 13:15

<szubaark> Shorts ES @ 1452 «« paper »» 13:16

<Satish> nq breaking out 13:17

<eminitrader> Covered Remainder ES Short @ 1453.25 --> 0 13:18

* sep34-away is now known as sep34 13:19

<NihabaAshi> Exited ER2 Long @ 744.70 --> + 2.4 13:20

<szubaark> Covered all Short ES at 1455.75 --> - 3.75 «« paper »»

:((

<bulldog> Exited Remainder ER2 Long @ 745.20 --> + 5.8 «« paper »»

<Satish> what a breakout 13:21

<rickf> too early imho

<eminitrader> Shorts ES @ 1456.75

<rickf> em - reading my mind :)

<szubaark> Shorts ES @ 1456.75 «« paper »»

<rickf> wow 13:24

<eminitrader> Long ES @ 1458.25 -> Add 13:25

oops that was a add to short

Shorts ES @ 1458.25 -> Add

<NihabaAshi> 3 point movement after my exit without a retrace for re-entry :( 13:26

<eminitrader> k guys trend is now long 13:27

my stop 1560.75 ..be back 13:29

1460.75

<rickf> short 1457 13:32

<eminitrader> Shorts ES @ 1459 -> Add 13:33

my avg sells r 1457.50 now

Covered Remainder ES Short @ 1460.75 --> - 5.75 13:34

<szubaark> Covered all Short ES at 1461.75 --> - 5 «« paper »» 13:35

Buys ES @ 1462 «« paper »»

is there some news out there?

<eminitrader> just trend change

looks like the mrkt was way oversold

Shorts ES @ 1461.75 13:36

<NihabaAshi> Shorts ER2 @ 748.70 -> small size 13:37

<eminitrader> Covered 1/2 ES Short @ 1459.75 --> + 2

<NihabaAshi> Easy reversal if I'm wrong

:( 13:38

<Andy> stops at 749.6 13:39

<eminitrader> Shorts ES @ 1460.75 -> Add

<NihabaAshi> Covered ER2 Short @ 749.30 --> - 0.6 13:40

Reverse and Enter Long ER2 @ 749.30

<bulldog> Shorts ER2 @ 749.80 «« paper »»

<NihabaAshi> Gold and Oil showed up again to support the Longs

<bulldog> Shorts ER2 @ 750.60 -> Add «« paper »» 13:42

<NihabaAshi> Exited ER2 Long @ 750.50 --> + 1.2

<pat255> hi again ... 13:48

back from meetings

<szubaark> hi pat

<rickf> stop at 1463

<Andy> hello, pat

<pat255> szu, andy

<bulldog> Shorts ER2 @ 751.80 -> Add «« paper »»

<pat255> hmmmback to highs 13:49

<eminitrader> Shorts ES @ 1461.75 -> Add 13:50

Covered 1/2 ES Short @ 1459.75 --> + 2 13:54

<bulldog> Covered 1/4 ER2 Short @ 749.50 --> + 2.3 «« paper »» 13:56

<eminitrader> Covered 1/3 ES Short @ 1458.75 --> + 3 13:57

hld 3 next target 1456.75 13:58

will go long 1452-1456 area 13:59

k that move was unexpected... 14:02

<rickf> scared me

<eminitrader> looks like a high probability that its gonna brek out 14:03

<szubaark> Looks like its building up momentum for next leg up 14:04

<eminitrader> k guys price is telling us that if 1456 breks then it goes back down ...

<KiwiRoo> wow.... we're near the high already... me back... 14:05

<eminitrader> Covered ES Short @ 1459 --> + 2.75 14:06

Reverse and Enter Long ES @ 1459

<NihabaAshi> Shorts ER2 @ 750.40 -> small size

1 contract only...

I'm still in profit protection mode after reaching my profit goals earlier today.

<pat255> nice 14:07

<eminitrader> if it breks 62.75 expect test of high ...if it breks 56 expect test of lows

i have a 4 tick stop

<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)

<silo> oh wow you reached target again?

how many points did yo make today niha

<eminitrader> Exited 1/3 ES Long @ 1462 --> + 3 14:09

<bulldog> Covered Remainder ER2 Short @ 751.90 --> - 2.1 «« paper »»

<pat255> vn em ..

<NihabaAshi> Covered ER2 Short @ 752.50 --> - 2.1

Reverse and Enter Long ER2 @ 752.50

<rickf> exited es short 1463 -4

<bulldog> Shorts ER2 @ 753.20 «« paper »»

<NihabaAshi> silo...yy goal was $700 bucks and I"m around $1300 for the day... 14:10

Not sure because I don't have my P/L window open right now.

<eminitrader> exit stop moved to breakeven ES @ 1459

<NihabaAshi> Meant...it's covered up "intentionally" by my another program. 14:11

<silo> :)

<eminitrader> Exited 1/3 ES Long @ 1465 --> + 6

<silo> so it doesn't affect your trading .. i understand

is 700 bucks your target everyday

or just for today

<eminitrader> hld 4 next target 1467

<NihabaAshi> Most days...no

<bulldog> Shorts ER2 @ 754.10 -> Add «« paper »» 14:12

<Andy> stops at 754.6

<NihabaAshi> volatility contracting fast 14:13

Like people are frozen and trying to figure things out. 14:14

<szubaark> that pop to upside happaned Real Fast. 14:15

<pat255> y

<rickf> yep - figured it was reversal time, went short,got burned. :(

<NihabaAshi> silo...I think I explained a few times how I get my targets.

I'll explain again after I close this position

<KiwiRoo> push the close button niha.. :P 14:16

j/k

<NihabaAshi> Exited ER2 Long @ 754.70 --> + 2.2 14:17

<bulldog> Covered Remainder ER2 Short @ 754.70 --> - 2.1 «« paper »»

<NihabaAshi> silo...its easy...here's how... 14:18

First of all, if you are not a profitable trader...

<eminitrader> Exited 1/3 ES Long @ 1467 --> + 8

hld 1

<rickf> good call em - should listen to you more often 14:19

<NihabaAshi> You "should not" be using profit target goals.

<pat255> wow wtg

<rickf> :)

<szubaark> yeah nice emini

<eminitrader> thx guys..

<NihabaAshi> I'll repeat...losing traders SHOULD NOT be using profit target goals.

<KiwiRoo> jee another +8... awesome trade.

<pat255> agree N...

<NihabaAshi> Instead, their goals should involve their ability to follow their trading plan.

Goals involve staying discipline et cetera...not profit goals. 14:20

In contrast, profitable traders should be using profit goals.

For me I do the following...

<eminitrader> r i made these cooments earlier - [12:25:41] <eminitrader> trend wld now change only if 1460 is taken out

<NihabaAshi> I take my past your performance and determine my average daily profit. 14:21

<rickf> think i missed that one

<pat255> em what tf u use for trend?

<NihabaAshi> That average becomes my "normal target" sort'uv speak.

Next, review carefully your trading when the VIX changed daily.

<eminitrader> [13:28:28] <eminitrader> k guys trend is now long 14:22

<NihabaAshi> Determine if your profits increased or decreased in comparison to the VIX.

<eminitrader> when did u go short r

<NihabaAshi> For me...higher the volatility...I tend to make more money.

<silo> to see if you are performing better during trending day.. or highly volatile days

k

<NihabaAshi> That little information tells me on "expected" volatile trading days...

<rickf> 1:32pm -- and there's your note, right above it. must've blinked or something 14:23

<NihabaAshi> I should set a profit target ABOVE my average ($1,050)

<bulldog> Shorts ER2 @ 754.60 «« paper »»

<silo> got it 14:24

<NihabaAshi> Depending upon the events that day (FED, economic, personal life)...I give myself a "rough" goal.

Today I didn't expect much and had some personal stuff to do.

My goal was set less than $1,050

<KiwiRoo> on how many contracts but ? 14:25

<NihabaAshi> Today I'm averaging about 2.2 contracts per trade

<eminitrader> pat - i use price action to id patterns that give the direction of the flow ...with a high probability

<KiwiRoo> Nice winners you have there with just 2 contracts.. 14:26

<NihabaAshi> I usually (tend to) go larger size in the morning when volatility is higher...

I lower my position size in the afternoon and then PRAY that volatility returns so that I can go large size again if my morning trading had been problematic. 14:27

<KiwiRoo> kool. thanks ..good info.

<NihabaAshi> Thus, if volatility returns in the afternoon and things went well in the morning...

I keep it small size (profit protection mode). 14:28

Try new methods et cetera in the afternoon.

Reason why my trading is not so hot in the p.m. session in comparison to the a.m. session.

Too much stuff going on. 14:29

I'm also in charge of the kids naptime :)

spouse has the morning shift, I get the afternoon shift.

<KiwiRoo> man.. does your kids sleeep whole day or what.. 14:30

<NihabaAshi> Nah...mainly from 1pm to 3pm est

<KiwiRoo> damn.. i missed that long by one tick.. at 65.75 :(

<NihabaAshi> I have about 25mins of trading concentration :)

<KiwiRoo> then you should get the morning shift since they don't sleep :P 14:31

<NihabaAshi> No...my profits are mainly in the morning.

<szubaark> Exited all Long ES at 1468.75 --> + 6.75 «« paper »» 14:32

<NihabaAshi> Anything profitable in the p.m. session is just icing on the cake...extra's.

<eminitrader> Exited Remainder ES Long @ 1469 --> + 10

<KiwiRoo> i love extra's.. :P 14:33

super trade em.

<NihabaAshi> Should be a good afternoon for the AHG traders.

<Brutus> ex emt u got the top

<KiwiRoo> yeah.. if it trend long....

<eminitrader> thx k b

<KiwiRoo> can get to 73.50 quite easily..

<eminitrader> actually my next target was 1474

<NihabaAshi> DAX liking it too.

<KiwiRoo> why jump early ? 14:34

<eminitrader> but as u all know i.m not a greedy person ..happy with a tenner :))

<KiwiRoo> i would love a tenner.....

your entry is interesting...em... go against the crowd without trend confirmation, but it seems to work most the time. 14:35

<eminitrader> Kwell k .. i dentify the trend in its initial stages ...long before it becomes obvious to others.. and then leave it to them - the momemtum players to form the trend....thas my edge - 14:37

<KiwiRoo> if i'm not wrong, your entry are entered at the support area, and you use price action to see the pause in the current move.. 14:39

just pause.... not reversal yet.

<eminitrader> no its the reverse... 14:40

isi see price action first and then everything else follows

<NihabaAshi> Starting to feel like the beer is wearing off and the pretty girl at the bar is not so pretty.

<pat255> lol 14:41

<eminitrader> like i was selling hard when i knew the trend had changed...reason was the flow/tren d direction was identified ....

<NihabaAshi> Simply, I think we hit resistance.

<KiwiRoo> nice... you are interpreting the price action off the chart or the time and sales if I may ask?

<eminitrader> but the price action was stilll struggling

so i took the short waited for price action to align itself with the flow and tehn entered the reversal long for the take off 14:42

combination of both K 14:43

<KiwiRoo> thanks man... 14:44

<eminitrader> hope it helps

urw

<KiwiRoo> sure did... gonna need more screen time for the PA to sink in :P

<szubaark> yes price action is the magic word, but it only comes with screen time. 14:45

<KiwiRoo> pretty hard to read once market start getting wild.... 14:48

<szubaark> Buys ES @ 1465 «« paper »» 15:01

exit stop moved to breakeven ES @ 1465 «« paper »» 15:02

<rickf> to answer the question about indicators, all i've got up now are ema/sma and keltner channels

see if that can help me focus more on pa

<szubaark> Indicators are Lagging big time. even the CCI LOL

<rickf> DEFINATELY

<szubaark> Exited all Long ES at 1465 --> 0 «« paper »» 15:03

WRB Analysis

Learn More

<KiwiRoo> u using naked chart szu ? 15:05

<szubaark> not yet.. still have the CCI up but using it less and less

Buys ES @ 1466.75 «« paper »»

<ItalianSharp> pretty hard to hold onto positions right now 15:15

<rickf> talk about a wild ride today jeez 15:16

<ItalianSharp> mkts turned real choppy over the last hr

<szubaark> yes forget about 1pt Stops now

* rickf looked like a nice selloff was in the works, then it got bumpy

<ItalianSharp> forget about pt targets as well...:(( 15:17

i've been shaken out three times in a row and i had to settle down for 1-2 ticks

<bulldog> Shorts ER2 @ 756.90 -> Add «« paper »»

<ItalianSharp> guess mkts want new highs

<szubaark> looks better now 15:18

<rickf> still feels like a crapshoot to me today 15:19

<ItalianSharp> well, given the way things were looking before the lunch break...i am surprised eminis recovered so well 15:20

<szubaark> nasty shakes going on 15:23

exit stop set ES @ 1464.75 «« paper »» 15:31

probobly giving this way too much time in this Chop 15:32

3:30 anything can happen up or down

exit stop set ES @ 1465.75 «« paper »» 15:34

<rickf> k all i'm out for the day. tty tomorrow 15:36

<szubaark> exit stop set ES @ 1466.75 «« paper »» 15:37

<KiwiRoo> wow.. chop chop chop chop..... 15:38

<szubaark> they just didnt want anyone along for the ride LOL 15:40

Exited all Long ES at 1470.25 --> + 3.5 «« paper »» 15:41

<Brutus> nice one szu 15:42

<KiwiRoo> this is BS.... nice trade..

<rainer> Shorts YM @ 13271

<szubaark> thx.. it was a tough trade.

<KiwiRoo> I'm sure they're looking to fill 73.50 by the close... 15:43

<rainer> Covered all YM Short @ 13272 --> - 1 15:44

<silo> szu you're on a roll today eh? 15:48

how many points have you raked in

<szubaark> silo pm 15:51

<werner> gn guys 15:56

<Brutus> ============ U.S. MARKETS ACTION =========== 16:01

DJIA up 63.73 points to 13231.01

NASDAQ up 19.81 points to 2594.35

S&P 500 up 8.58 points to 1454.57

10-year T-note up 2/32 at 100 28/32 yield 4.140

NYMEX Spot Crude down $0.71 at $89.92/bbl at close

Dollar/Euro down 0.0007 at 1.4404

http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={b50a0 eeb-ae6c-4364-9493-677fbd047a73}

<Andy> gn all 16:02

<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) 16:13

* sep34 is now known as sep34_away 16:42

* DisconnectedSession Close: Tue Dec 18 16:56:02 2007 16:56

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