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 Post subject: October 4th Thursday - Futures, Forex, Stocks and ETFs
 Post Posted: Thu Oct 04, 2012 1:36 pm 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
#TheStrategyLab (formerly known as #FuturesTrades) is free along with being a serious professional trading chat room involving WRB Analysis and any trader (position trader, swing trader and day trader) can use the chat room to post their real-time trades, real-time price action analysis or market commentaries involving stocks, futures, exchange traded funds or forex currencies. Further, although our chat room is smaller than the other popular chat rooms...we are the most active chat room in posting trades, price action analysis or market commentaries in comparison to other free chat rooms.

#TheStrategyLab is primarily designed to be only a trade journal for documentation purposes only so that members can have a real time stamp archive of trades and market commentaries of each trading day and this gives them a better understanding of their broker statements from one trade to the next trade when they review their performance numbers on any given trading day. In addition, we welcome all traders (beginners and experience) that are merging WRB Analysis with their trade methods or using WRB Analysis to develop a better understanding of the price action (market context) they're trading...improving their position size management and trade management after entry.

Also, if you want #TheStrategyLab chat room to be educational for you...please ask questions instead of lurking (not participating in conversations).

Quote:
Chat room only for traders using concepts of WRB Analysis. In addition, traders that use #TheStrategyLab are not required to post trades but if you do post trades...the trades must be clear (not ambiguous) entry price/exit price and position size. Traders that consistently post ambiguous trades will be KICKED (removed) from the chat room.

With that said, thanks for reading the trades, price action analysis or market commentaries that's below and we highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful market context information that's critical to understanding the price action you're trading. To log into #TheStrategyLab chat room...please follow the instructions here at the FTCHAT Support Forum @ http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5 or for registered members of the chat room at the TSL Support Forum @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Note: Registration is not allowed here at the FTCHAT Forum...it is allowed at the TSL Forum (link above) that provides support for the #TheStrategyLab chat room.

Attachment:
100412-Key-Price-Action-Markets.png
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click on the above image to view today's price action of key markets

Chat logs saved (timestamp) from Québec, Canada in eastern daylight time

Session Start: Thu Oct 04 03:18:55 2012
Session Ident: #TheStrategyLab
[03:18:55] * Now talking in #TheStrategyLab
[04:13:13] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[04:21:22] <Tigerman> hello all
[04:21:32] <+Tigerman> anybody inthere now ?
[04:24:51] <@wrbtrader> Exited all Emini TF Long @ 838.00 --> + 2
[04:26:16] <+Tigerman> hi wrbtrader do you trade TF in morning ?
[04:40:33] <@wrbtrader> No
[04:42:26] <+Tigerman> ah ok because not understand that previous post this:
[04:42:35] <+Tigerman> [10:26:29] <@wrbtrader> Exited all Emini TF Long @ 838.00 --> + 2
[04:42:50] <@wrbtrader> I'm being sarcastic...
[04:43:09] <@wrbtrader> If I post a trade...why ask if I trade in the morning ???
[04:43:49] <+Tigerman> because I m sarcastic too :)
[04:43:55] <@wrbtrader> ok
[04:44:24] <@wrbtrader> Maybe you meant to ask "you usually in here this early in the morning trading?"
[04:44:34] <@wrbtrader> The answer is No.
[04:44:59] <+Tigerman> also I find strange trade TF now
[04:45:16] <@wrbtrader> Its the same swing trade from yesterday...don't you remember ?
[04:45:17] <+Tigerman> I mean seems to me low liquidity
[04:46:32] <+Tigerman> ah ok I not stay in chat long over the 4pm
[04:47:00] <+Tigerman> so I can t know if you close that trade later :)
[04:47:20] <+Tigerman> now I know it was a swing :)
[04:47:39] <@wrbtrader> Ok...I just assumed you had your charts open and then you saw a +2 point profit on a Long position.
[04:47:56] <@wrbtrader> Thus, with your chart open...you would have saw the price action DECLINING...
[04:48:25] <@wrbtrader> Therefore, if it was a Long...it must have been entered yesterday :)
[04:50:07] <+Tigerman> yep right simply not had open TF chart
[04:50:23] <+Tigerman> now I checked the reasoning is correct
[04:50:31] <@wrbtrader> You usually in here this early ?
[04:50:40] <@wrbtrader> If not...why you're here this early ?
[04:51:05] <+Tigerman> simply this time I more focused on CL and euro
[04:51:27] <+Tigerman> usually I follow markets but not here in chat
[04:52:16] <+Tigerman> I read you wanna wake up early and trade cl and euro fx
[04:52:28] <@wrbtrader> Shorts EuroFX 6E @ 1.2942 -> large size
[04:52:30] <+Tigerman> so I check to see if you are ere
[04:52:45] <@wrbtrader> 9 contracts
[04:53:42] <@wrbtrader> Gold GC, Oil CL, Eurex DAX, Emini futures and EuroFX 6E futures with downside pressure...
[04:53:54] <@wrbtrader> Trying hard now to find some legs.
[04:54:03] <@wrbtrader> Key markets insync
[04:54:47] <+Tigerman> yep that insync in a good condition from my experience
[04:54:58] <+Tigerman> is a good condition
[04:55:21] <@wrbtrader> Yeah...a hint about the overall volatility and market context
[04:56:12] <@wrbtrader> Covered all EuroFX 6E Short @ 1.2939 --> + 0.0003
[04:56:37] <@wrbtrader> I'm still re-adjusting to EuroFX 6E futures...
[04:57:06] <@wrbtrader> It's the more difficult of the bunch (GC, TF, CL, 6E)
[04:57:51] <+Tigerman> what give thid difficult ?
[04:57:58] <@wrbtrader> Still trying to figure out my "trigger profit price" to start adjusting my stops
[04:58:17] <+Tigerman> the way it does move?
[04:58:27] <+Tigerman> I noted it retrace fast
[04:58:37] <@wrbtrader> Yep, all price actions don't move the same.
[04:59:00] <@wrbtrader> Thus, the trade management (not the entry signal) after entry are manage "differently".
[05:00:56] <@wrbtrader> It took 2 trading days of EuroFX to determine that -7 ticks will be my hard auto stop upon entry and -3 ticks will be my mental stop.
[05:01:27] <@wrbtrader> I had been using -10 ticks upon entry as the initial hard stop.
[05:02:19] <@wrbtrader> The overall low volatility in the markets doesn't allow a quick recovery from a loss on a trade of -10 ticks in EuroFX as a day trade
[05:02:40] <@wrbtrader> In normal to high volatility...
[05:02:56] <@wrbtrader> -10 ticks would be a good risk tolerance for me but not now.
[05:03:12] <@wrbtrader> only -7 ticks as an emergency hard stop is suitable
[05:05:20] <@wrbtrader> So far I notice LESS fill problems in EuroFX 6E futures in comparison to Emini TF futures.
[05:05:38] <@wrbtrader> TF I average about 3 - 5 no fills each day
[05:05:49] <@wrbtrader> so far with EuroFX 6E futures...
[05:05:57] <@wrbtrader> I have not had any "no fills"
[05:06:45] <+Tigerman> yes is very liquid and that thing I like it so much
[05:07:33] <+Tigerman> same with forex but we know we fight against the broker
[05:07:40] <@wrbtrader> Its most active trading hours are 3am to 8am est...
[05:08:33] <@wrbtrader> It then pauses or rest for about 30 minutes (increasing volatility contraction) and then its active (a little less) again from 0830am - 12noon est.
[05:09:18] <@wrbtrader> After 12noon est...not worth trading unless there's a key market event (e.g. FOMC announcement, FED speech, ECB speech) or world breaking news impacting the markets.
[05:09:37] <@wrbtrader> I can't trade EuroFX every trade day...
[05:09:49] <@wrbtrader> Too much of a disruption to my sleeping.
[05:09:51] <+Tigerman> yes in paricular from 7 to 9 am we have more directional move from what I researched
[05:10:16] <@wrbtrader> Will try to trade it ONLY on trading days I think have very important key market events.
[05:10:26] <+Tigerman> yep for you means wake up early
[05:11:00] <+Tigerman> yep BCE news is mandatary
[05:11:29] <+Tigerman> expecially about south europe country debt
[05:13:09] <@wrbtrader> Be back later around 8am est
[05:14:44] <+Tigerman> ok see ya later me too I ll be bacl later need to exit soon
[05:58:14] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[07:28:14] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[07:46:23] <@wrbtrader> Long EuroFX 6E @ 1.2970 -> large size
[07:46:34] <@wrbtrader> 9 contracts
[07:50:53] <@wrbtrader> Exited all EuroFX 6E Long @ 1.2966 --> - 0.0004
[07:56:44] <@wrbtrader> Long EuroFX 6E @ 1.2965 -> large size
[07:56:58] <@wrbtrader> 6+3
[07:57:57] <@wrbtrader> re-entry
[08:02:00] <@wrbtrader> Exited all EuroFX 6E Long @ 1.2958 --> - 0.0007
[08:05:02] <@wrbtrader> back to back trades stopped out...trades for holding into the 0830am est key market event
[08:11:12] <@wrbtrader> Long EuroFX 6E @ 1.2959 -> large size
[08:11:33] <@wrbtrader> 4+2+3
[08:11:48] <@wrbtrader> re-entry
[08:12:15] <@wrbtrader> hopefully I can hold this one
[08:13:43] <@wrbtrader> need a little help from Gold GC and Oil CL futures
[08:15:11] <@wrbtrader> not getting that help so far
[08:15:22] <@wrbtrader> GC and CL struggling again
[08:18:19] <@wrbtrader> Exited all EuroFX 6E Long @ 1.2961 --> + 0.0002
[08:18:41] <@wrbtrader> other key markets struggling too much
[08:18:58] <@wrbtrader> will try for a lower entry if possible
[08:20:44] <@wrbtrader> Gold GC and Oil CL futures decided to give lots of support now :(
[08:24:28] <@wrbtrader> Long EuroFX 6E @ 1.2970 -> large size
[08:24:33] <@wrbtrader> 6 contracts
[08:25:01] <@wrbtrader> Gold GC and Oil CL futures giving more support
[08:27:46] <@wrbtrader> Exited all EuroFX 6E Long @ 1.2971 --> + 0.0001
[08:27:49] <@wrbtrader> :(
[08:29:56] <@wrbtrader> Long EuroFX 6E @ 1.2971 -> large size
[08:30:11] <@wrbtrader> 9 contracts
[08:31:22] <@wrbtrader> Oil CL futures breaking down...no longer helping
[08:32:14] <@wrbtrader> Exited all EuroFX 6E Long @ 1.2971 --> 0
[08:32:46] <@wrbtrader> :(
[08:33:16] <@wrbtrader> Long EuroFX 6E @ 1.2990 -> large size
[08:33:35] <@wrbtrader> I was close...had some good tries in there
[08:35:12] <@wrbtrader> Exited all EuroFX 6E Long @ 1.2993 --> + 0.0003
[08:35:49] <+canaandog> looks like your swing worked out nicely
[08:36:24] <@wrbtrader> It picked pocketed my stop earlier this morning for only a +2 points
[08:36:51] <@wrbtrader> I've had several "pick pockets" today so far...costly
[08:37:18] <@wrbtrader> giving me only a fraction of what I was looking for
[08:38:59] <+canaandog> unfortunate, but life in the markets :(
[08:40:58] <@wrbtrader> agree
[08:43:09] <@wrbtrader> Shorts EuroFX 6E @ 1.2995 -> large size
[08:43:19] <@wrbtrader> 9 contracts
[08:43:27] <@wrbtrader> 4+5
[08:46:48] <@wrbtrader> Covered all EuroFX 6E Short @ 1.2985 --> + 0.001
[08:47:02] <@wrbtrader> WRB pt1 reached
[08:58:15] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[09:19:06] <+Trendtrader> gm all
[09:23:14] <Senn-> gm
[09:30:25] <+Trendtrader> Shorts Emini TF @ 838.4
[09:30:28] <+Trendtrader> x1
[09:32:21] <@wrbtrader> Today's WRB Analysis Chart is of SPY @ http://stocktwits.com/message/9816098
[09:32:50] <+Trendtrader> Covered all Emini TF Short @ 838.4 --> 0
[09:34:12] <@wrbtrader> Shorts Emini TF @ 837.30 -> medium size
[09:34:23] <@wrbtrader> 2+2
[09:34:30] <@wrbtrader> chasing
[09:34:45] <@wrbtrader> looks like its going to make me pay for it too
[09:35:07] <@wrbtrader> 837.90 was the trade signal price
[09:35:39] <@wrbtrader> Covered all Emini TF Short @ 836.20 --> + 1.1
[09:35:51] <@wrbtrader> WRB pt1 reached
[09:39:33] <+Senn-> Shorts Emini TF @ 836.2 «« simulator »»
[09:40:01] <@wrbtrader> Shorts Emini TF @ 835.80 -> small size
[09:40:07] <@wrbtrader> 2 contracts
[09:40:22] <@wrbtrader> Creeper down Movement still active in Emini futures
[09:41:04] <+Senn-> Covered all Emini TF Short @ 835.9 --> + 0.3 «« simulator »»
[09:41:34] <@wrbtrader> Several nice looking WRB Hidden GAPs sitting about current prices of the Emini futures...
[09:41:43] <@wrbtrader> = decent volatility so far
[09:44:07] <@wrbtrader> Covered all Emini TF Short @ 836.60 --> - 0.8
[09:45:18] <@wrbtrader> Shorts Emini TF @ 835.80 -> small size
[09:45:24] <@wrbtrader> 2 contracts
[09:45:25] <+Senn-> Shorts Emini TF @ 835.5 «« simulator »»
[09:45:27] <@wrbtrader> re-entry
[09:45:43] <@wrbtrader> choppy
[09:49:30] <+Senn-> Covered all Emini TF Short @ 836.6 --> - 1.1 «« simulator »»
[09:50:33] <@wrbtrader> Doesn't look like this trade is going to make it into the 1000am est key market event
[09:50:57] <@wrbtrader> Covered all Emini TF Short @ 836.50 --> - 0.7
[09:57:58] <@wrbtrader> Shorts Emini TF @ 836.10 -> medium size
[09:58:05] <@wrbtrader> 2+2
[09:58:08] <@wrbtrader> tight stop
[10:00:17] <@wrbtrader> Gold GC and Oil CL futures showing some legs to stand up now
[10:00:22] <+Senn-> Shorts Emini TF @ 836.1 «« simulator »»
[10:01:23] <@wrbtrader> tighten stop loss
[10:01:54] <@wrbtrader> trailing @ profit
[10:02:10] <@wrbtrader> Covered all Emini TF Short @ 835.60 --> + 0.5
[10:02:21] <@wrbtrader> shallow WRB pt1 reached
[10:02:34] <+Senn-> Covered all Emini TF Short @ 836 --> + 0.1 «« simulator »»
[10:02:44] <@wrbtrader> that choppy tight trading range earlier killed the WRB pt potential
[10:03:23] <@wrbtrader> Creeper Down Movement price action still active until this thing can put in a UP WRB Hidden GAP followed by some volatility contraction
[10:06:23] <@wrbtrader> Light Crude Oil CL futures with WRB Hidden GAP @ 1002am - 1004am est
[10:12:37] <@wrbtrader> SPY has now traversed through and above the top WRB Zone shown in that earlier posted chart.
[10:15:34] <+Senn-> Long Emini TF @ 840.4 «« simulator »»
[10:16:23] * Fleneer2 is now known as Fleneer
[10:16:24] <@wrbtrader> EuroFX 6E futures in Creeper Up Movement
[10:17:46] <+canaandog> little too conservative on tf entry around 837 and missed out :(
[10:23:15] <@wrbtrader> WRB Analysis -> - Your use of this chat room implies you're using concepts from WRB Analysis to help trade either Stocks, Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), Oil Futures (Brent, CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQ, SPY), Forex Currencies (GbpUsd, EurUsd, EurYen, UsdCad) or other key market price actions.
[10:31:18] <+Senn-> Exited all Emini TF Long @ 839.2 --> - 1.2 «« simulator »»
[10:34:27] <+Senn-> Shorts Emini TF @ 838.8 «« simulator »»
[10:38:25] <+Senn-> Covered all Emini TF Short @ 838.7 --> + 0.1 «« simulator »»
[10:43:15] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[10:45:39] <@wrbtrader> I don't see other key markets doing the current similar like volatility spike in Emini TF futures
[10:55:08] <@wrbtrader> Shorts Emini TF @ 836.10 -> small size
[10:55:18] <@wrbtrader> 1 contract
[10:55:58] <@wrbtrader> earlier no fill @ 836.50
[10:56:01] <@wrbtrader> :(
[10:56:15] <@wrbtrader> on 1 measy contract
[10:56:32] <Tigerman> gm all
[10:56:34] <@wrbtrader> Creeper Down Movement in Emini TF futures
[10:56:48] <+Tigerman> yeah TF is very illiquid
[10:57:04] <+Tigerman> a no fill x 1 contract :(
[10:59:33] <@wrbtrader> Shorts Emini TF @ 836.70 -> Add
[10:59:47] <@wrbtrader> 1 add
[11:00:50] <+Tigerman> spike on euro fx
[11:01:23] <@wrbtrader> Covered all Emini TF Short @ 837.00 --> - 1.2
[11:01:45] <+Tigerman> should be nice to jump in euro but moving fast
[11:02:37] <@wrbtrader> last hoorah for EuroFX before it goes into its mid-day dead period
[11:03:30] <+Tigerman> yep last spike before sleep
[11:03:40] <+Tigerman> good news x euro by ecb
[11:03:51] <+Tigerman> ready to buy bonds
[11:04:21] <@wrbtrader> Shorts Emini TF @ 836.70 -> small size
[11:04:36] <@wrbtrader> 2 contracts
[11:04:42] <@wrbtrader> re-entry
[11:04:57] <@wrbtrader> Gold GC and Oil CL futures hit overhead resistance
[11:05:16] <@wrbtrader> increasing volatility with CHOP
[11:05:29] <+Tigerman> yes in many markets
[11:05:41] <+Tigerman> a big spike on dax
[11:05:59] <+Tigerman> 20 points in seconds
[11:06:26] <@wrbtrader> volatility spike must then be a "news event"
[11:06:46] <@wrbtrader> Covered all Emini TF Short @ 835.10 --> + 1.6
[11:06:53] <@wrbtrader> WRB pt1 reached
[11:07:23] <+Tigerman> wonder which news
[11:07:51] <+Tigerman> maybe bce rechanged his mind :)
[11:08:13] <+Tigerman> meanwhile my broker crash again :(
[11:08:32] <+Tigerman> simply sometimes crash after few minutes
[11:08:42] <+Tigerman> sometimes stay up all day
[11:09:08] <+Tigerman> usually after the first crash it works good x hours :)
[11:13:40] <@wrbtrader> A lot easier now to be patient in waiting for volatility to generate trade opportunities when trading "different" trading instruments (e.g. Oil CL, EuroFX 6E, Emini TF futures)...
[11:13:54] <@wrbtrader> Instead of being married to just one trading instrument.
[11:14:31] <@wrbtrader> A lot more chart work especially if you're not use to doing any "intermarket analysis".
[11:25:38] <@wrbtrader> Creeper Down Movement still active in the Emini Futures
[11:29:30] <@wrbtrader> Been hearing a little more lately about brokers, institutional traders having problems with ICE exchange orders...specifically related to Emini TF futures.
[11:30:18] <@wrbtrader> In fact, a few companies have temporarily "not allowed" any of their traders to trade Emini TF futures because of these issues.
[11:30:49] <@wrbtrader> WRB Analysis -> - Your use of this chat room implies you're using concepts from WRB Analysis to help trade either Stocks, Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), Oil Futures (Brent, CL, NG, HO, QM), Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQ, SPY), Forex Currencies (GbpUsd, EurUsd, EurYen, UsdCad) or other key market price actions.
[11:32:20] <+Tigerman> Shorts iShares IWM @ 83.24
[11:36:04] <+Tigerman> Covered all iShares IWM Short @ 83.30 --> - 0.06
[11:36:27] <+Tigerman> problematic time of the day
[11:40:19] <+Tigerman> Long Light Crude Oil CL @ 89.5
[11:40:34] <+Tigerman> strong up move on oil
[11:42:19] <+Tigerman> Exited all Light Crude Oil CL Long @ 89.67 --> + 0.17
[11:42:36] <+canaandog> nice
[11:42:57] <+Tigerman> this oil trade fixed my feel
[11:43:26] <+Tigerman> simply I have always problematic trade with equity
[11:44:01] <+Tigerman> seems the fast moving oil future is better x me but I needs more time to discover
[11:44:17] <+Tigerman> thanks canaandog
[11:45:29] <@wrbtrader> Light Crude Oil CL futures still in a Creeper Up Movement
[11:55:56] <+Tigerman> tomorrow is holiday columbus day
[11:57:06] <+Tigerman> Long Light Crude Oil CL @ 89.81
[11:57:29] <+Tigerman> creeper up move holding
[12:07:01] <+Tigerman> Exited all Light Crude Oil CL Long @ 90.20 --> + 0.39
[12:07:39] <+Tigerman> when price started to contract I almost exited
[12:07:55] <+Tigerman> then I v done a phne call
[12:08:03] <+Tigerman> phone call
[12:08:57] <+Tigerman> then price jumped up
[12:09:22] <@wrbtrader> Nice looking Creeper Movement price actions in many key markets except for Gold GC and Silver SI futures
[12:09:39] <+Tigerman> and reach a good target seems I have more lucky when oil future vs others instruments :)
[12:10:29] <+Tigerman> also euro fx is good now creepy move too
[12:15:38] <+Tigerman> strong direction move during mid-day
[12:16:02] <+Tigerman> it is a strange things from some days now
[12:16:14] <+Tigerman> what does it means ??
[12:16:43] <+canaandog> we were discussing that a few days ago... no conclusion
[12:17:01] <+Tigerman> yeah I remember it
[12:17:20] <+Tigerman> something boil under water but what??
[12:17:41] <+Tigerman> we do not know if is good or not
[12:17:54] <+Tigerman> maybe a strong move in markets
[12:24:47] <T4n_paper> i like cl's moves today
[12:24:57] <+T4n_paper> i admit i dont usually watch it
[12:28:16] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[12:34:38] <@wrbtrader> Emini TF futures in Creeper Up Movement
[12:35:48] <@wrbtrader> Some traders wonder what's the difference between "Money Management versus Risk Tolerance".
[12:37:20] <@wrbtrader> Money Management involves using math, trading account balance and other rules to determine how much you can lose on a trade, trading day, trading week that tells you to QUIT or EXIT the position.
[12:37:59] <@wrbtrader> It's like a stop (hard stop or mental stop) that's being used to manage your trades.
[12:38:38] <@wrbtrader> In contrast, risk tolerance tend to be associated with a psychological element...your uncle point where you scream sort'uv speak from a loss.
[12:39:15] <@wrbtrader> For example...lets pretend your money management rules doesn't allow you to violate the -5 points on a 3 contract Emini ES position.
[12:39:53] <@wrbtrader> Yet, psychologically, you tend to freak out, stress out, scream when a position goes -2.5 points against you.
[12:40:17] <@wrbtrader> That -2.5 points is your "risk tolerance" eventhough your money management rules is at -5 points.
[12:40:45] <@wrbtrader> For example, when I trade Emini TF futures...my money management is -2 points.
[12:41:08] <@wrbtrader> Yet, I tend to get STRESSED or start to freak out a little around -1 point.
[12:41:21] <@wrbtrader> Thus, my risk tolerance for a losing trade is -1 point
[12:42:24] <@wrbtrader> Good ways to manage stress is good night sleep, proper eating (nutritional) habits, exercise reguarly...
[12:44:07] <@wrbtrader> I also highly recommend doing something like yoga, listening to relaxation music while doing relaxation techniques away from the computer at least two - 15 minutes session sometime during your trading day.
[12:44:32] <@wrbtrader> All price action have dead zones (extreme low volatility times)...
[12:44:57] <@wrbtrader> That's the recommended time to do those 15minutes time outs.
[12:45:53] <@wrbtrader> I myself do at least ONE hour relaxation break during the trading day away from the computer
[12:46:24] <@wrbtrader> Great way to re-energize, clear the head especially if its NOT a good trading day.
[12:51:52] <+Tigerman> great wise word wrbtrader
[12:52:13] <+Tigerman> because trading is not only signal entry
[13:21:23] <+Tigerman> Long Light Crude Oil CL @ 90.85
[13:21:50] <+Tigerman> creeper up move
[13:22:30] <+Tigerman> used ultra low frame otherwise not easy enter
[13:23:21] <+Tigerman> Exited all Light Crude Oil CL Long @ 90.95 --> + 0.1
[13:23:46] <+Tigerman> fomc later
[13:24:20] <+Tigerman> woh oil still growing
[13:27:42] <@wrbtrader> Long Emini TF @ 839.60 -> small size
[13:28:08] <@wrbtrader> Creeper Up Movement still active for Emini TF futures
[13:28:17] <@wrbtrader> 2 contracts
[13:30:52] <+T4n_paper> Is this normal sort of CL price action?
[13:30:57] <+T4n_paper> or a rare occasion
[13:31:11] <@wrbtrader> Exited all Emini TF Long @ 840.20 --> + 0.6
[13:31:18] <@wrbtrader> WRB pt1 reached
[13:32:12] <+Tigerman> I go eating see later
[13:58:16] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[14:01:15] <@wrbtrader> increasing volatility on the 2pm est key market event
[14:02:08] <@wrbtrader> T4n...remember yesterday when I said today and tomorrow will have "increasing volatility" due to some important key market events.
[14:03:02] <@wrbtrader> a lot of stuff has been happening starting with the U.S. Presidential debates last night
[14:03:37] <@wrbtrader> Thus, Oil CL futures and other key markets doing exactly what they are suppose to be doing on days like today...
[14:03:43] <@wrbtrader> Increasing Volatility.
[14:05:54] <+T4n_paper> yes i figured as much
[14:06:14] <+T4n_paper> i knew crude could not be that easy to trade allways
[14:07:12] <@wrbtrader> Some traders make a good living on trading days like today...you may only get about 20 trading days like today PER YEAR...
[14:07:19] <@wrbtrader> When all the ducks line up sort'uv speak.
[14:07:29] <@wrbtrader> They mainly ONLY trade on days like today.
[15:03:51] <+T4n_paper> Long TF @ 840.9 -> small size «« sim »»
[15:10:12] <+T4n_paper> low vol
[15:14:36] <+T4n_paper> Exited TF Long @ 840.6 --> - 0.3 «« sim »»
[15:16:25] <+T4n_paper> protected from profits again
[15:20:17] <Fleneer> "protected from profits" Hummmmm.....
[15:20:32] <ajax> lol
[15:20:44] <+Fleneer> hi ajax
[15:21:50] <+ajax> hey
[15:22:07] <+ajax> still in other home room??
[15:23:01] <+ajax> Fleener....
[15:24:15] <+Fleneer> yep. still there.
[15:24:41] <+ajax> goodo....all still there??...been a while since popped in.... :))
[15:27:27] <+Fleneer> just me most days. Don is in most evenings. trades the ES during the Asia session.
[15:27:56] <+Fleneer> not seen the other guys in a year or more. no idea where they went.
[15:28:16] <@X> #TheStrategyLab -> Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[15:28:32] <+Fleneer> aj PM
[15:39:34] <@wrbtrader> just got back...
[15:39:44] <+canaandog> it's been dead
[15:40:04] <@wrbtrader> I don't want to see dead volatility in the last 15 minutes of trading like yesterday
[15:40:29] <@wrbtrader> After a big day of increasing volatility in many key markets...
[15:40:30] <+canaandog> close your eyes? :)
[15:40:50] <@wrbtrader> It'll be nice to see some continuation of that increasing volatility into the regular session close.
[15:41:00] <+canaandog> let's hope so
[15:49:05] <+T4n_paper> non event so far
[15:52:42] <@wrbtrader> Emini TF futures price action still stuck big time inside the price area of that big WRB Hidden GAP @ 1400pm - 1402pm est
[15:53:20] <@wrbtrader> R and S levels obvious inside that WRB Hidden GAP
[16:01:00] <@wrbtrader> got the increasing volatility but no trade opportunties appeared.
[16:01:56] <+T4n_paper> yep
[16:03:28] <+Tigerman> not particular volatitilty on close
[16:04:30] <+Tigerman> if continue this way is better I concentrate only till noon
[16:09:08] <+T4n_paper> Shorts TF @ 842.4 -> small size «« sim »»
[16:09:22] <marketmaker> ty for today mark
[16:09:29] <+marketmaker> ty very much
[16:11:02] <+Tigerman> take care have safe holiday and weekend see all next week
[16:12:22] <+T4n_paper> Covered TF Short @ 842.3 --> + 0.1 «« sim »»
[17:08:55] <@wrbtrader> Take care all and see all tomorrow
[17:09:12] * wrbtrader is now known as wrbtrader_away
Session Closed: Thurs Oct 4th

-------------------------

#TheStrategyLab is free and is a serious professional trading chat room involving WRB Analysis in which any trader (position trading, swing trading, day trading) can use the chat room to post their trades or commentaries about stocks, futures, exchange traded funds or forex currencies. Simply, you don't need to be a client of TheStrategyLab.com to use the chat room nor do you need to be a price action only trader (no indicators) because some members use indicators while others do not. Yet, the only requirement is that you want to learn WRB Analysis.

Therefore, we welcome all traders that want to learn about WRB Analysis regardless if they are beginners or experience

The purpose of #TheStrategyLab is that it's designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day.

Further, members are not obligated to educate nor help other members but members are encourage to ask questions about any trades or market commentaries that's posted by others because sometimes the answers contains useful trading tips.

In addition, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different trade signal methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisements for guest visitors.

Commonly discussed trading instruments from stocks, futures, exchange traded funds and forex currencies:

Image CME Emini Futures EMD, ES and NQ

Image ICE Emini TF Futures (formerly CME ER2)

Image CBOT mini-sized Dow Futures YM

Image Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Image Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz

Image Euronext Futures FTSE-100 and CAC-40

Image CME Futures EuroFX 6E and EC

Image Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB

Image Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen and Usd/Cad

Image Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD

Image NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BRN, e-miNY QM and Natural Gas NG

Image COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

Image S&P CNX NIFTY Futures

Image Hang Seng Index Futures HSI and mini-Hang Seng MHI

Also, to prevent the usual mix-up about our different chat rooms, most of our fee-base clients do not use chat rooms just like most retail traders do not use chat rooms. Yet, the few clients that do use chat rooms, our fee-base clients are discussing market analysis or price action only trade signals via concepts from our strategies in the private chat rooms called #VolatilityTradingTSL or #SwingTradingTSL and they're not allowed to do such in #TheStrategyLab.

Reminder, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that #TheStrategyLab is a serious professional trading chat room and we expect members to act professional. Also, these logs may have been edited (rarely) to remove any messages that a member has complained to me via private message that they consider a particular commentary to be inappropriate, offending or too far in the off topic area that's a distraction when the commentary was posted.

Note: chat logs saved (timestamp) from Québec, Canada in eastern daylight time

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/wide range bar analysis)
Price Action Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
intradaystrategies@yahoo.com
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


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