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 Post subject: February 4th Monday - Futures, Forex, Stocks and ETFs
 Post Posted: Tue Feb 05, 2013 7:10 am 
Trader / Forum Admin

Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
##TheStrategyLab (located on the Freenode IRC network) is free along with being a serious professional trading chat room for traders using WRB Analysis by itself or merged with other trade methods to improve the performance of those other trade methods regardless if you're a position trader, swing trader or day trader. Therefore, you're welcome to use the chat room to ask questions about WRB Analysis, post real-time price action analysis involving WRB Analysis merged with your own trade methods, post real-time trades or talk about general market issues impacting today's price action involving stocks, futures, exchange traded funds or forex currencies. In addition, we welcome all traders (beginners, experience, part-time, full-time) that are merging WRB Analysis with their trade methods or using WRB Analysis to help develop a better understanding of the price action (market context) they're trading...improving their position size management and trade management after entry.

##TheStrategyLab is primarily designed to be a trade journal for documentation purposes only so that members can have a real time stamp archive of their trades and their market commentaries of each trading day...giving 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 the past. Therefore, if you use our chat room...its highly recommended you post messages that reflect what you see in the price action on your monitors. Your diary (journal).

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

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 that's located on the Freenode IRC network...please follow the instructions here at the FTCHAT Support Forum @ http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5 or via the the instructions from the TSL Support Forum @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Note: ##TheStrategyLab chat room is now located on the Freenode IRC network after moving from the Othernet IRC network.

020413-Key-Price-Action-Markets.png [ 517.85 KiB | Viewed 205 times ]

click on the above image to view today's price action of key markets

Session Start: Mon Feb 04 06:23:35 2013
Session Ident: ##TheStrategyLab
[06:23:35] * Now talking in ##TheStrategyLab
[06:23:35] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[06:39:34] <rhqq2> yo
[06:45:43] <wrbtrader> Most traders will show up around 9am est
[06:46:28] <wrbtrader> I'm heading to the gym...see all around 9am est
[08:28:01] <srini> gm all
[08:29:58] <werner1> gm all
[08:50:29] <MattR_> g'morning, all
[09:06:35] <Zr1trader> Good morning everyone. Have a good trading day;
[09:18:05] <wrbtrader> Key Market Events Today @ 1000am, 1901pm, 1930pm, 2230pm est
[09:22:14] <Trendtrader> gm all
[09:26:21] <wrbtrader> Brent Steady at $116 on Positive Economic Data @ http://www.ibtimes.com/brent-steady-116 ... ta-1058762
[09:29:29] <Trendtrader> Shorts Emini TF @ 902.7
[09:29:31] <Trendtrader> x4
[09:32:39] <Zr1trader_> Long GC 1665.7 ---1 contract
[09:39:15] <Zr1trader_> wrb pt 1 reached
[09:39:33] <Zr1trader_> going for #2
[09:40:15] <wrbtrader> that's a nice looking increasing volatilithy in Gold GC futures and Silver futures too
[09:40:47] <wrbtrader> Hopefully other key markets will increase in volatility too...
[09:41:01] <wrbtrader> don't care which direction prices go on the volatility
[09:41:15] <wrbtrader> Emini TF futures struggling out of the gate
[09:41:20] <wrbtrader> same with Oil CL futures
[09:45:23] <wrbtrader> Shorts Emini TF @ 903.40 -> large size
[09:45:48] <wrbtrader> 6 contracts
[09:45:51] <wrbtrader> intuition
[09:46:29] <wrbtrader> volatility increasing but with chop :(
[09:47:44] <wrbtrader> Covered all Emini TF Short @ 903.80 --> - 0.4
[09:49:29] <Trendtrader> Covered all Emini TF Short @ 903.8 --> - 1.1
[09:53:30] <TigermanTrader> gm all
[09:55:14] <TigermanTrader> long iwm @ 90.12
[09:56:33] <TigermanTrader> news in minutes
[09:57:57] <TigermanTrader> exit iwm @ 80.14
[09:58:14] <TigermanTrader> +0.02 trail stop pick up
[09:58:45] <TigermanTrader> look x re-enter
[10:03:40] <wrbtrader> Shorts Emini TF @ 904.70 -> large size
[10:03:56] <wrbtrader> 6 contracts
[10:06:20] <wrbtrader> Covered all Emini TF Short @ 905.20 --> - 0.5
[10:06:29] <canaandog> tough
[10:07:19] <TigermanTrader> long iwm @ 90.7
[10:07:26] <TigermanTrader> re-enter
[10:13:05] <TigermanTrader> exit iwm @ 90.5
[10:13:12] <TigermanTrader> -0.02
[10:13:43] <wrbtrader> Shorts Emini TF @ 904.60 -> large size
[10:13:57] <wrbtrader> re-entry
[10:14:07] <wrbtrader> 6 contracts
[10:17:44] <wrbtrader> WRB pt1 reached
[10:26:46] <wrbtrader> WRB pt2 reached
[10:26:55] <wrbtrader> Covered all Emini TF Short @ 903.20 --> + 1.4
[10:30:08] <Zr1trader_> Reverse 1667.2 opposite signal showed +15 ticks
[10:30:57] <Zr1trader_> wrb pt1 reached
[10:31:23] <Zr1trader_> exit +1 tick
[10:31:33] <Zr1trader_> got fished
[10:37:42] <Zr1trader_> Short ZW 771.5 --- 1 contract
[10:38:59] <wrbtrader> Zr1trader...you're using the same broker for Gold GC and Wheat futures ???
[10:39:14] <Zr1trader_> yes
[10:39:47] <Zr1trader_> well I have different accounts with different brokers but intraday futures trading is with the same one.
[10:40:52] <Zr1trader_> wrb reached
[10:41:21] <Zr1trader_> pt1, try for two again
[10:44:07] <wrbtrader> thanks
[10:45:09] <Zr1trader_> yeah no prob.
[10:46:17] <Zr1trader_> Using AMP, I don't keep much in the account because I think they could go belly up ect. but i like there rates the best.
[10:46:33] <Zr1trader_> their*
[10:48:19] <Zr1trader_> Opened a IB account for a "just in case" account to hedge myself if something happens with amp and I can't enter orders.
[10:49:28] <wrbtrader> I had a few "disaster traders" between 2001 - 2003...
[10:49:46] <wrbtrader> If it wasn't for taking the trade in the opposite direction with my back up broker...
[10:50:20] <wrbtrader> It would have been a 30k loss instead of a 2k loss due to the hedge
[10:50:57] <Zr1trader_> yeah, good to be prepared for anything in this business !
[10:51:57] <TigermanTrader> wrbtrader the may broker not worked after the initial trade in that day or what happened ?
[10:52:10] <Zr1trader_> wrb 2 reached wheat, exit 769
[10:52:15] <TigermanTrader> why hedge with secondary broker was needed?
[10:52:48] <wrbtrader> First broker went down
[10:52:51] <wrbtrader> simple as that
[10:52:53] <TigermanTrader> of course I agreed on have always a secondary broker anyway
[10:53:07] <TigermanTrader> ah ok
[10:53:33] <wrbtrader> then there was a "surprise rate announcement" when I didn't have a stop in place
[10:53:54] <TigermanTrader> ah stop not in place
[10:54:09] <wrbtrader> luckily I was able to put on a trade in the opposite direction a few minutes before the surprise rate announcement occurred
[10:54:17] <TigermanTrader> anyway also a stop can be jumped by a broker sometimes
[10:55:17] <Zr1trader_> Sometimes I'm fearful something like that will happen in the 1 second it takes me to place a stop . If I buy the $1000 ninja platform license then I think i can set one to go on automatically at time of entry
[10:55:36] <TigermanTrader> what scare me (but of course is very very rare but not impossible )is not have a broker confermation !!
[10:56:33] <TigermanTrader> I mean you put an order at one level then price reach that level then..... broker frozen
[10:57:00] <TigermanTrader> you ll never know if the order is executed !!!
[10:57:22] <wrbtrader> Just don't panick and start clicking multiple times :)
[10:57:32] <TigermanTrader> so you do not know whar happen to your trade !!
[10:57:56] <TigermanTrader> yeah do not panick :) easy to say not easy to do :)
[10:58:00] <TigermanTrader> in that moments
[10:58:43] <wrbtrader> Also, have two computers just in case that platform freeze was caused by your computer.
[10:58:51] <TigermanTrader> but wrbtrader I mean when is not possible to know if you enetred in a trade or not,because broken went down
[10:59:02] <wrbtrader> You can then verify by logging into your broker via the 2nd computer
[10:59:25] <canaandog> airlines have checklists/procedures for various problems/emergencies. at the very top of every one in large type it says, "Don't Panic. Fly the Plane."
[10:59:29] <wrbtrader> If you're able to log in...you know it was your primary computer
[10:59:31] <TigermanTrader> so not possible log in from anywhere
[10:59:50] <wrbtrader> If you're not able to log in via another computer...its the broker
[10:59:59] <wrbtrader> Next...call them :)
[11:00:11] <wrbtrader> I have my broker on speed dial
[11:00:31] <TigermanTrader> yeah if is the broker need to call
[11:01:07] <TigermanTrader> some broker are fast other slow to answer
[11:01:17] <wrbtrader> that's life
[11:01:58] <TigermanTrader> yeah simply when a large ammount of money is involved this issue is of big concern
[11:02:22] <TigermanTrader> like on flash crash 0f may 6h some years ago
[11:02:40] <TigermanTrader> market fall was very fast
[11:03:29] <TigermanTrader> anyway rare event
[11:03:41] <Zr1trader_> that flash crash was crazy and I was relativily new to trading at the time. I thought it was a 1929 coming lol
[11:04:18] <Zr1trader_> but who knew ....
[11:04:43] <Zr1trader_> im sure 87 was nuts also
[11:05:08] <TigermanTrader> that day was a real panick one if your broker was down
[11:05:37] <Zr1trader_> people said that broker phones were all jammed too. on 87 . not good.
[11:05:45] <TigermanTrader> I also remember a more then 1 pt spread in b id/ask in TF
[11:06:06] <Zr1trader_> yeah it was 10 wide in YM at times
[11:06:11] <TigermanTrader> yeah when everyone look x the exit...
[11:06:20] <wrbtrader> Yeah...always got to be prepare...crazy world breaking news, surprise rate cuts, crazy trader at one of the worlds biggest trading firms accidentally hits the wrong button :)
[11:06:59] <TigermanTrader> yep fat finger like
[11:07:58] <TigermanTrader> because of this is better increase money amount in trading very SLOWLY
[11:08:32] <TigermanTrader> not start with 100 contracts also if have the ability to do so :)
[11:09:28] <Zr1trader_> Yeah I learned that the hard way .... had a nice boom and bust ealier in my career.
[11:09:28] <wrbtrader> Emini futures still in an active Creeper Down Movement price action
[11:11:50] <wrbtrader> Gold GC futures still in a Creeper Up Movement
[11:12:08] <wrbtrader> It has had the best price action of the trading day so far
[11:12:29] <wrbtrader> several nice looking WRB Hidden GAPs to the upside
[11:30:53] <TigermanTrader> short iwm 89.52
[11:33:19] <TigermanTrader> exit iwm @ 89.52
[11:38:53] <TigermanTrader> short iwm 89.48 re-entry
[11:39:14] <TigermanTrader> wrb pt1 reach
[11:39:31] <TigermanTrader> late entry x me
[11:40:25] <TigermanTrader> exit iwm @ 89.46
[11:40:34] <TigermanTrader> +0.06
[12:03:46] * MattR_ is now known as MattR_lunch
[12:41:17] * MattR_lunch is now known as MattR_
[15:10:32] <wrbtrader> Hopefully the last hour of the regular session for the Emini TF futures will "not" be a low volatility tight trading range.
[15:36:32] <srini> es looks like want to tag 1490/91
[15:46:57] <TigermanTrader> short iwm 89.28
[15:47:32] <wrbtrader> Shorts Emini TF @ 897.20 -> medium size
[15:47:42] <wrbtrader> 2+2
[15:50:24] <srini> 1491 hit
[15:50:43] <wrbtrader> Covered all Emini TF Short @ 896.20 --> + 1
[15:51:02] <wrbtrader> not a WRB pt1
[15:51:25] <wrbtrader> exited just below the reaction point of 1212pm est
[15:52:38] <wrbtrader> also, other Emini futures were at the end of a WRB volatility spike
[15:53:23] <TigermanTrader> exit iwm @ 89.18
[15:54:23] <TigermanTrader> +0.08
[15:56:55] <TigermanTrader> short iwm @ 89.21
[15:57:47] <TigermanTrader> exit iwm @ 89.21
[15:58:09] <wrbtrader> Shorts Emini TF @ 897.20 -> medium size
[15:58:15] <wrbtrader> 4 contracts
[15:58:21] <wrbtrader> intuition
[15:58:53] <wrbtrader> Covered all Emini TF Short @ 897.30 --> - 0.1
[15:59:40] <wrbtrader> Long Emini TF @ 898.20 -> medium size
[16:00:17] <wrbtrader> prior trade a screw up...could have been worst
[16:00:26] <wrbtrader> 4 contracts
[16:02:58] <wrbtrader> Exited all Emini TF Long @ 897.70 --> - 0.5
[16:03:43] <wrbtrader> good look on the Long but it couldn't climb to that WRB Hidden GAP @ 1530pm est
[16:04:05] <wrbtrader> and I don't have the normal time to stay with the trade to see if it could get up there
[16:04:10] <wrbtrader> have an appointment
[16:04:21] <wrbtrader> Take care all and see all tomorrow
[16:09:32] <TigermanTrader> take care see all tomorrow
[16:09:55] <srini> good night tarders
[16:10:28] <srini> 90.50 had a an es long order chicked out last minute
[16:22:11] <MattR_> g'night all
Session Close: Mon Feb 04 20:16:15 2013


##TheStrategyLab (located on the Freenode IRC network) 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 ##WRB_Analysis 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 Qu├ębec, 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
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
Go Back To TheStrategyLab.com Homepage

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