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Archived April 2004 Key Trades
If there are indicators on the charts below...it does not suggest the trader used those particular indicators nor time interval...they are illustration only to help you to visualize that trade entry and exit.
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Key trades of the month that's posted below represents trades by either NihabaAshi or trades by another user of the strategies by TheStrategyLab.com
No presentation is being made that other traders will or is likely to achieve profits similar to the trades shown below via becoming a member of #FuturesTrades realtime trade posting room. These highlighted trades are not based on points. They are based on a trader's ability to recognize a repetitive price pattern and exploit the trade management of the price pattern...initial stops, trailing stops, profit targets and any contingency plans (re-entry signals).
All trades were posted in #FuturesTrades realtime trade posting room and you can view archived past key trades.
April 20th Tuesday 2004
Click on chart to see full size
The entry was based on the 3min chart interval of Emini ES and Market Breadth Volatility VXN along with VIX.
Short Entry @ 1134.00
Trading whenever Fed Chairman Greenspan is speaking...is not an easy task and scares away most traders.
To fear volatility is to fear profits
First thing that happen was that the financial networks like CNBC and Bloomberg were reading what Greenspan was schedule to say. In other words, they were giving some big hints that if the economy stays on course...banks are healthier enough to handle increasing interest rates.
Talks of interest rates hikes usually isn't a good thing for the market...short term. More evidence of bearish sentiment was that the ES put in a Tweezer Top candlestick pattern as a failed counter-thrust with a lower high since 1345pm est.
Finally, the VXN and VIX (market breadth volatility indices) gave me the final clue to get Short.
Lots of supply and not enough demand
As usual profit target 1 got bouncy on me a little and I missed getting 1132.50 and 1132.75. Instead, I covered @ 1133.00
I almost got profit target 2 ...I covered @ 1131.00
Profit target 3 was a lucky cover because when it was first reached...it bounced back up so fast I couldn't get that 1128.00...forcing me to wait out the small bounce back up to 1129.50 until it came back down...
I covered on its second interval attempt @ 1128.00 thinking I better get out via a second chance.
No trade management errors and more than likely had I not decided at the open to go small size only I would have been normal size in my position and would have had 6 more contracts to exploit the market that nosed dived after it failed its second counter-thrust in the 1129.50 price area...
Trade Signal Source: Trading Manual
ES closed the trading day @ 1114.50
Overall Trade Performance:
042004NihabaAshiFT 042004NihabaAshiFT1
Click on chart to see full size
The entry was based on the 3min chart interval.
Short Entry @ 1131.50
However, I saw a Bearish Price/Volume Divergence on the 1min chart and blended the 2 candlestick intervals on the 3min chart to get a decent looking Dark Shooting Star for a Short entry.
I didn't reach profit target 1 on my 1st group of contracts because I got spooked a little and covered them early @ 1131.00 to pay for the trade. However, I did come close to capturing profit target 1 on the 2nd group contracts @ 1129.00
Next I covered a contract @ 1127.75 at profit target 2, covered another contract @ 1126.25 at what may be profit target 3 whereas in the chart pt3 could be pt4 and pt4 could be pt5...a judgment call.
Trade Signal Source: Trading Manual
Last of all, I covered the remaining contract @ 1124.50 and had I not got spooked earlier in the trade on that first group of contracts...I would have had a contract remaining to go for either profit target 5 or profit target 6...not shown in chart.
Overall Trade Performance:
041504NihabaAshiFT 041504NihabaAshiFT1 041504NihabaAshiFT2
Click on chart to see full size
The entry was based on the 3min chart interval.
Short Entry @ 1147.25
However, my hesitation when the signal first appeared...caused me to chase the price a few ticks. First group of contracts covered @ 1146.00 to pay for the trade although I covered early prior to profit target 1. Second group of contracts covered @ 1143.00 then a contract @ 1141.00, another contract @ 1138.75 and the remaining contract @ 1139.50 via what looked like a weak candlestick reversal signal.
Trade Signal Source: Trading Manual
Although my covers weren't at the developing profit targets...still good trade management.
Trading the GAP always requires patience to wait for any type of breakdown below a key candlestick support area.
Last of all, I lost the .gif images of the covers between 1006am - 1019am est due to ISP connection problems so I posted below a copy of the complete chat log.
Overall Trade Performance:
041304NihabaAshiFT 041304NihabaAshiFT1 FT Text Chat Log
Many of these traders are either making a living in the markets via trading full time and others are just supplementing their incomes via trading part time.
There are others in the room as beginners or struggling just trying to grab a few trading tips from the veterans to help them turn the corner to profitability.
Last of all, there are a few in the realtime trade posting room that have exhausted their self-taught methodology without any success and are using the room to monitor NihabaAshi and other users of the fee-based strategies and free resources by TheStrategyLab.com to determine if such is what they need to get on the road to profits.
Sincerely,
M.A. Perry and Associates
The Strategy Lab
"Instead of spending all day analyzing and discussing the market, I just react to highly profitable situations and find setups of high probability with high reward to risk ratio situations." -Anonymous
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