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Archived May 2004 Key Trades
Charts below reflect profit targets (PT's) based on Japanese Candlestick s/r levels. Profit targets suggest where the trader should have exited.
However, the trader's actual exit that's posted below in the commentary will not always be exact to the profit target (PT's) due to real trading conditions.
Simply, no matter how well the destination (exits) are mapped out...
The goal is to follow the trading plan outlined by the strategy as best as possible...the goal is not to be perfect because every experience trader knows that's not reality.
Remember this...if you are a struggling trader or a trader that wants to be more profitable...contact us about either IRC room mentioned below to help develop yourself into a consistent...profitable trader.
More importantly, we highly recommend you ask either NihabaAshi or any other #FuturesTrades member for help if your struggling trader not meeting your trading goals.
Attention: Not all members of #FuturesTrades are clients of TheStrategyLab.com
In fact, many traders are using their own trade methodology or the strategies from another website and we do not market our strategies in #FuturesTrades nor do we allow others to do the same...
Thus, #FuturesTrades is a spam free room.
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.
May 25th Tuesday 2004
Click on chart to see full size
The entry was based on the 1min chart interval of Emini ES and Sweet Light Crude Oil and trade management via the 3min chart.
Long Entry @ 1091.25
When oil futures is on traders thoughts at the exchanges...best not to ignore it. Oil was declining and I wanted to get Long in ES.
I saw a little price/volume divergence and enter my position after confirming what Oil was doing. The confirmation cost me a better entry into ES by 0.25
To fear volatility is to fear profits
However, whenever I enter a position via the 1min chart (not often), I usually manage the trade via the 3min chart or higher.
Lots of demand and not enough supply
Profit target 1 was reached easily and I got a little more than expected. Such wasn't a surprise with support from the declining oil futures...exiting @ 1093.25
Profit target 2 was reached for my second group of contracts @ 1095.50
After the second 1/3...this is where I completely self-sabotage my remainders.
I should have exited the remaining 1/3 in parts...usually this is what my trading plan requires. Instead, I got a little nervous even while the oil futures was still providing nice support to the Eminis.
I exited the entire remaining 1/3 @ 1095.50
Well...you know what happened the rest of the trading day...straight up for ES and via hindsight review...trade would have been better managed via the 15min chart interval instead of the 3min chart interval.
Trade Signal Source: Trading Manual
ES closed the trading day @ 1112.00
Overall Trade Performance:
Click on chart to see full size
The entry was based on the 1min chart interval of ES and trade management via the 3min chart.
Long Entry @ 1089.00
I chased the entry via 0.50 but was still within the designated chase range for the bullish divergence signal that appeared about 15mins after the 0830am est key economic reports Consumer Price Index and Business Inventories.
To fear volatility is to fear profits
Something else and just as important...the daily chart for ES was in a bullish price divergence. With that said, I was looking for any bullish signals on the intraday charts for an entry.
Profit target 1 was reached and I exited 1/3 @ 1091.00
Profit target 2 was reached and I exited another 1/3 @ 1092.25
Lots of demand and not enough supply
Due to the price pattern on the daily chart...I made a decision to ignore profit target 3 and try to capture profit target 4.
Profit target 4 was reached and I exited the remaining 1/3 @ 1096.50
Trade Signal Source: Intraday Market Tendencies Report
ES closed the trading day @ 1094.50
Overall Trade Performance:
051404NihabaAshiFT 051404NihabaAshiFT1
Click on chart to see full size
The entry was based on the 3min chart interval.
Short Entry @ 1089.75
There were bearish price divergence patterns all over the place.
Something else, I noticed in other realtime trade posting rooms that very few were shorting...a good sign before the herd shows up.
To fear volatility is to fear profits
The thing about my divergence signals is that I prefer when they occur with long upper candlestick shadows...a sign that prices are too exhausted to push higher.
I covered my first 1/3 a early @ 1088.50 prior to profit target 1 being reached due to it getting a little bouncy...such made me a little too eager to bank some profits.
Next...I covered my second 1/3 a early @ 1087.00 mainly because of a trade error and not because I didn't follow the trading plan.
Lots of supply and not enough demand
The premature covers on the second group of contracts was costly and didn't allow me to have enough contracts to exploit more profitable PT's.
I then saw a weak bearish price divergence pattern and decided to cover 1/2 of my remaining contracts @ 1085.50
Last of all, what I had left in the position was exited at a profit target @ 1084.00 and in hindsight review I realized how costly those early covers were...leaving money on the table.
Trade Signal Source: Intraday Market Tendencies Report
ES closed the trading day @ 1083.50
Overall Trade Performance:
051004NihabaAshiFT 051004NihabaAshiFT1
Click on chart to see full size
The entry was based on the 3min chart interval.
Long Entry @ 1105.75
Once again...I waited for the appearance of any type of divergence pattern after the release of the 0830am est key economic reports.
I jumped all over this one when it was also a Advanced Tweezer Bottom.
To fear volatility is to fear profits
All profit targets were reached easily...mainly because of the momentum. Also, I took a peek at Eurex DAX and saw that it was strong.
Exited 1/3 for profit target 1 @ 1108.75
Exited another 1/3 for profit target 2 @ 1110.00
Lots of demand and not enough supply
Exited the remainder for profit target 3 @ 1116.00
Trade Signal Source: Intraday Market Tendencies Report
ES closed the trading day @ 1095.00
Overall Trade Performance:
050704NihabaAshiFT 050704NihabaAshiFT1
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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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