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 Post subject: October 3rd Thursday - Futures, Forex, Stocks and ETFs
 Post Posted: Thu Oct 03, 2013 8:11 pm 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Trading Room: http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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##TheStrategyLab (located on the Freenode IRC network) is free along with being a serious professional trading chat room for traders using WRB Analysis (e.g. Contracting Volatility, WRB, WRB Hidden GAP, WRB Zone, WRB profit targets, Key Market Events) 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 trading 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.

##TheStrategyLab is primarily designed to only be a trade journal for documentation purposes 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 so that the chat room becomes your diary (journal) to correlate with trades on your broker statements.

Also, if you want ##TheStrategyLab chat room to be educational for you, ask questions instead of lurking (not participating in conversations). You can talk about anything related to price action analysis, trade execution, financial markets, economies or news impacting the markets in general.

Quote:
The chat room is only for traders learning or applying concepts of WRB Analysis. In addition, traders that use ##TheStrategyLab are required to post at least one WRB Analysis price action commentary, one real-time trade or one general trading related commentary per day they log-in to the chat room. Yet, if the trader decides to post real-time trades (simulator or real-money)...the trades must be clear (not ambiguous) entry price/exit price and position size. Traders that consistently log-in and not post any price action commentary involving WRB Analysis or 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 price action 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

Attachment:
100313-Key-Price-Action-Markets.png
100313-Key-Price-Action-Markets.png [ 531.87 KiB | Viewed 232 times ]

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

Note: Trader conversations below may represent different chat rooms (e.g. ##TheStrategyLab, ##WRB_Analysis, ##VolatilityTradingTSL) that have been merged together at the end of the trading day.

Session Start: Thu Oct 03 09:25:38 2013
Session Ident: ##TheStrategyLab
[09:25:38] * Now talking in ##TheStrategyLab
[09:25:38] * Topic is 'Chat room only for traders using WRB Analysis (WRBs, WRB Hidden GAPs, WRB Zones) for day trading, swing trading or position trading. | WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... 119&t=718'
[09:25:38] * Set by wrbtrader on Tue Feb 05 08:11:19
[09:25:38] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:33:31] <jessel____> wrg hg zone in 3 min gold
[09:45:16] <@wrbtrader> WRB Analysis -> - Your use of this chat room implies you're using concepts from WRB Analysis for price action trading to help trade either Stocks, Emini Futures (EMD, TF, ES, NQ, YM), EuroFX 6E Futures, Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40, BUND), Treasury Futures (ZF, ZN, ZB), Oil Futures (Brent, CL, HO, QM), Gold GC Futures, Natural Gas NG Futures, Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQ, SPY), Hang Seng HSI Futures, NIFTY Futures, Forex Currencies (GbpUsd, EurUsd, EurYen, UsdCad) and other key market price actions.
[09:46:14] <@wrbtrader> Reminder - Thursday October 17th is the Debt Ceiling deadline...the big picture here involving the current U.S. Government shutdown.
[09:47:09] <@wrbtrader> I'll be looking for fireworks in the market by Tuesday October 15th, Wednesday October 16th going into the Debt Ceiling deadline if nothing is resolved by then...
[09:47:16] <@wrbtrader> Big FIREWORKS in the market
[09:47:53] <Zr1trader> I was hoping fireworks already started with shutdown but has been relatively quite so far. HOpefully you are right.
[09:48:06] <Zr1trader> for debt ceiling
[09:50:09] <@wrbtrader> Yeah, if I'm right, I'll be loading the boat (large contracts) beginning Tuesday October 15th.
[09:50:51] <Zr1trader> ES vol increase 2,3, min
[09:58:56] <jessel____> KME at 10 am
[10:00:12] <Zr1trader> I remember the last debt ceiling in aug 2011 was about a 600pt down day in Dow index after moodys downgrade. Moodys had been giving some warnings of downgrade weeks prior, this time I'm not hearing these warnings so will be interesting to see what happens.
[10:02:34] <Zr1trader> Non Mfg ISM 54.4, Exp. 57.0 .....Miss
[10:03:03] <@wrbtrader> zr1trader, thanks for the date reminder.
[10:03:04] <Zr1trader> vol increase eminis, gold
[10:03:29] <jessel____> big spike
[10:03:32] <@wrbtrader> I'm going to check the archive chat logs back then to review how I approach that trading day.
[10:04:07] <jessel____> I remember the volatiliy was so great I could not trade
[10:04:18] <jessel____> needed very big stops
[10:09:58] <jessel____> but I was not using the WRB method back then so don;t know how that would have worked
[10:11:49] <jessel____> strong price continuation bearish on 3 mi ES
[10:20:30] <Zr1trader> Treasury: "Default would be unprecedented and potentially catstrophic;default could lead to financial crisis worse than recession in 2008" via cnbc tweet. They are really starting to fear monger this .
[10:21:40] <NDW> yes they are, their business is selling news, and bad news and fear sell well
[10:22:17] <Zr1trader> they probably want to start to see market reaction to get congress to MOVE on the issue.
[10:27:00] <@wrbtrader> Default could be worse than '08 crisis: Treasury (MarketWatch) @ http://www.marketwatch.com/story/defaul ... 03-1091157
[10:36:53] <Zr1trader> oil vola increasing
[12:02:54] <NDW> sure is quiet in here today
[12:11:16] <t4npaper> i'm guessing they made their profits and walked away
[12:19:45] <jessel____> Doesn't wrbtrader trade in here everyday? Or does he not post all his trade?
[12:24:52] <@wrbtrader> I don't trade every day.
[12:25:20] <@wrbtrader> Would go crazy trying to do such :)
[12:25:42] <@wrbtrader> Also, just because I post in here doesn't imply I'm trading.
[12:27:01] <@wrbtrader> It only implies I'm logged in and could be posting remotely from the grocery store, dental clinic, standing in line at a movie, sitting at a restaurant or whatever :)
[12:27:45] <@wrbtrader> You must have missed my first post of the day...
[12:27:48] <@wrbtrader> [09:46:14] <@wrbtrader> Reminder - Thursday October 17th is the Debt Ceiling deadline...the big picture here involving the current U.S. Government shutdown.
[12:45:10] <@wrbtrader> Dollar index hits 8-month low as U.S. government shutdown drags on (Reuters) @ http://www.reuters.com/article/2013/10/ ... VQ20131003
[13:01:45] <@wrbtrader> Long Emini ES @ 1669.75 -> large size
[13:02:01] <@wrbtrader> 15 contracts
[13:02:18] <@wrbtrader> stole a great entry into the snap back price action
[13:05:42] <@wrbtrader> Exited 1/3 Emini ES Long @ 1671.25 --> + 1.5
[13:05:53] <@wrbtrader> WRB pt1 reached
[13:06:47] <t4npaper> Was that a market buy now?
[13:08:01] <@wrbtrader> Yeah...I had originally missed the entry and decided to let the order remain to see if I would get lucky to see a snap back back down to that price area
[13:08:16] <@wrbtrader> Then it started moving higher and I almost cancelled the order...
[13:08:23] <@wrbtrader> That's when it did the snap back
[13:08:39] <@wrbtrader> Exited 1/3 Emini ES Long @ 1671.50 --> + 1.75
[13:08:44] <t4npaper> oh, so that was more of a limit order
[13:08:54] <@wrbtrader> yes
[13:09:16] <@wrbtrader> The snap backs have been "working against" me lately while I was already IN a trade.
[13:09:24] <t4npaper> have you tried limit orders or buy nows in TF with 15+ contracts?
[13:09:46] <@wrbtrader> sometimes in TF...not commonly used by me
[13:09:58] <@wrbtrader> WRB pt2 reached
[13:10:06] <Donnin________> nice nice
[13:10:12] <@wrbtrader> Exited Remainder Emini ES Long @ 1672.25 --> + 2.5
[13:10:45] <t4npaper> that seemed confusing to me, which is not commonly used in tf?
[13:12:05] <@wrbtrader> Why confusing...
[13:12:16] <@wrbtrader> I don't commonly use that type of order in Emini TF futures.
[13:12:47] <@wrbtrader> I prefer (like) to use market orders "against" the tick direction.
[13:12:55] <@wrbtrader> For example...
[13:13:02] <t4npaper> ok, i see
[13:13:13] <@wrbtrader> If I want to go Long...I wait for down ticks and go long into the down ticks
[13:13:33] <@wrbtrader> If I want to get Short...I wait for up ticks and get Short into the up ticks
[13:13:53] <@wrbtrader> Doesn't imply I get that on entry :)
[13:14:14] <t4npaper> right , you are expecting slippage
[13:15:45] <Guest83082> i also do that and i usually get positive slippage when i go long on down tick or go short on up ticks. just like a limit order.
[13:16:06] <Guest83082> *positive slippage = better price
[13:17:17] <@wrbtrader> Yeah, I hate slippage.
[13:17:37] <@wrbtrader> I try to minimize it as much as possible
[13:18:04] <@wrbtrader> especially in something like Emini TF futures
[13:25:49] <@wrbtrader> Long Emini TF @ 1065.50 -> small size
[13:25:58] <@wrbtrader> 1 contract
[13:26:12] <@wrbtrader> poor entry
[13:26:47] <@wrbtrader> Exited Emini TF Long @ 1065.90 --> + 0.4
[13:28:10] <@wrbtrader> WRB pt1 (shallow) reached...small profit due to the fact I had to exit at the WRB pt1 based upon the entry I should have gotten around 1064.60
[13:29:10] <@wrbtrader> volatility increasing in the Emini futures
[13:33:20] <t4npaper> sometimes 130 brings some vol, like today
[13:47:25] <@wrbtrader> would like to see a "snap back" now
[13:48:03] <@wrbtrader> Long Emini TF @ 1070.00 -> small size
[13:48:15] <@wrbtrader> didn't get it but this will have to do
[13:48:19] <@wrbtrader> 1 contract
[13:48:55] <@wrbtrader> Long Emini TF @ 1069.60 -> Add
[13:49:02] <@wrbtrader> 2 contracts added
[13:54:07] <@wrbtrader> volatility increasing again
[13:55:11] <@wrbtrader> Exited all Emini TF Long @ 1068.40 --> - 2.8
[13:55:29] <@wrbtrader> R area reached of most recent WRB Hidden GAP on the 2min chart
[13:59:13] <@wrbtrader> Long Emini TF @ 1069.10 -> small size
[13:59:21] <@wrbtrader> 3 contracts
[13:59:36] <@wrbtrader> almost had this @ 1068.70
[13:59:43] <@wrbtrader> too much analysis
[14:01:11] <@wrbtrader> WRB pt1 (shallow) reached
[14:01:27] <@wrbtrader> Exited all Emini TF Long @ 1069.60 --> + 0.5
[14:12:28] <t4npaper> long cl 1068.2
[14:12:47] <t4npaper> Thats TF
[14:21:31] <t4npaper> e 1067.5 -.7
[14:26:02] <Zr1trader> Shots fired in US capital Reports pending via zerohedge twitter
[14:26:11] <Zr1trader> may be rumor
[14:26:45] <Zr1trader> bloomberg confirms
[14:27:35] <Zr1trader> now reports that shots were outside capitol and its on lockdown
[14:28:23] <Zr1trader> whole thing may be AP rumor tho so caution
[14:28:34] <Zr1trader> or like AP rumor i should say
[14:31:55] <@wrbtrader> Its not a rumor...I've been watching it lockdown on TV for about 8 minutes now
[14:32:08] <NDW> crazy times
[14:32:39] <@wrbtrader> Shipyard shooting a few weeks ago and now this
[14:32:46] <Zr1trader> oil vol, gold nothing, eminis seem stable for moment
[14:33:48] <@wrbtrader> Shorts Emini ES @ 1673.25 -> large size
[14:34:17] <@wrbtrader> 10 contracts
[14:34:30] <@wrbtrader> Have not pushed much size today...
[14:34:51] <@wrbtrader> still keeping it light
[14:37:11] <@wrbtrader> wow...just saw some strange quotes
[14:37:22] <@wrbtrader> maybe I'm having some data problems
[14:37:40] <Zr1trader> oil vol continues
[14:38:22] <@wrbtrader> Covered all Emini ES Short @ 1673.00 --> + 0.25
[14:38:32] <Zr1trader> i see 1672.25 bid es
[14:44:32] <@wrbtrader> Long Emini ES @ 1675.25 -> large size
[14:44:44] <@wrbtrader> 10 contracts
[14:51:28] <@wrbtrader> Long Emini ES @ 1474.75 -> Add
[14:51:38] <@wrbtrader> 10 added
[14:51:45] <@wrbtrader> largest position of the day
[14:52:32] <@wrbtrader> correction in that entry...
[14:52:39] <@wrbtrader> [14:44:32] <@wrbtrader> Long Emini ES @ 1675.25 -> large size
[14:52:53] <@wrbtrader> meant the add...
[14:53:09] <@wrbtrader> 1474.75 is 1674.75
[14:53:55] <@wrbtrader> will repost both
[14:54:08] <@wrbtrader> Long Emini ES @ 1675.25 -> large size
[14:54:24] <@wrbtrader> Long Emini ES @ 1674.75 -> Add
[14:54:52] <@wrbtrader> 10+10 contracts
[15:01:49] <@wrbtrader> Exited all Emini ES Long @ 1673.50 --> - 3
[15:04:09] <@wrbtrader> Long Emini ES @ 1673.50 -> large size
[15:04:14] <@wrbtrader> re-entry
[15:04:21] <@wrbtrader> 20 contracts
[15:05:58] <@wrbtrader> still choppy
[15:06:06] <@wrbtrader> meant...chop showed up
[15:08:03] <@wrbtrader> range still tight or getting tighter
[15:08:20] <@wrbtrader> lots of long shadow intervals
[15:08:46] <@wrbtrader> near the S area of a prior key WRB Hidden GAP filled
[15:09:16] <@wrbtrader> 5min chart @ 1325pm - 1330pm est
[15:09:57] <@wrbtrader> Exited all Emini ES Long @ 1674.00 --> + 0.5
[15:10:20] <@wrbtrader> hoping for a re-entry at a lower price
[15:11:01] <@wrbtrader> S area @ 1673.00
[15:14:17] <@wrbtrader> Long Emini ES @ 1673.25 -> large size
[15:14:25] <@wrbtrader> 20 contracts
[15:14:31] <@wrbtrader> bouncing off that S area
[15:14:39] <@wrbtrader> re-entry
[15:15:48] <@wrbtrader> Other key markets not helping at all
[15:15:57] <@wrbtrader> trade now in trouble :(
[15:17:37] <@wrbtrader> Exited all Emini ES Long @ 1673.00 --> - 0.25
[15:18:57] <@wrbtrader> Eminis now getting some help
[15:19:47] <Donnin________> help from where
[15:19:55] <@wrbtrader> Other key markets
[15:21:01] <@wrbtrader> Long Emini ES @ 1674.00 -> large size
[15:21:09] <@wrbtrader> 25 contracts
[15:21:21] <@wrbtrader> key markets insync now in the volatility movement
[15:23:58] <@wrbtrader> Emini ES futures in a 4 point range the past 30 minutes
[15:25:12] <@wrbtrader> back to the low of the volatility contraction range
[15:27:25] <@wrbtrader> Markets predicting the entire month of October will be one BIG Halloween
[15:27:42] <TigermanTrader> gm all
[15:28:06] <TigermanTrader> too much things to do today for me
[15:28:25] <TigermanTrader> just open my chart right now
[15:29:08] <Zr1trader> Largest open interest on es options is 34k puts on at 1450 .....scary
[15:29:12] <TigermanTrader> I ve only seen some turmoil ang gun
[15:29:50] <@wrbtrader> Yeah, the shooting killed the volatility
[15:30:04] <@wrbtrader> It keep trying to pick up and then quickly evaporates
[15:31:16] <@wrbtrader> just like now
[15:31:33] <@wrbtrader> a little volatility shows its face and then it just vanishes
[15:50:34] <@wrbtrader> 4pm rush hour traffic (1550pm - 1600pm est) is now here...
[15:50:43] <@wrbtrader> Eminis now on their own
[15:51:20] <TigermanTrader> yep confusing situation
[15:51:25] <@wrbtrader> killer range thanks to a killer in D.C.
[15:51:28] <@wrbtrader> :(
[15:51:47] <Donnin________> lol
[15:55:30] <@wrbtrader> just lost my patience
[15:57:01] <TigermanTrader> nothing to do apart close the trading desk
[15:57:37] <@wrbtrader> lows of the volatility contraction being retested
[15:57:40] <@wrbtrader> now broken
[15:58:00] <TigermanTrader> someone sell
[15:58:01] <@wrbtrader> Exited all Emini ES Long @ 1672.50 --> - 1.5
[15:59:53] <@wrbtrader> Shorts Emini ES @ 1671.25 -> large size
[16:00:16] <@wrbtrader> 25 contracts
[16:00:24] <@wrbtrader> very little room on this one
[16:01:07] <TigermanTrader> sh 1671 ES
[16:01:14] <TigermanTrader> 1 ct only
[16:02:01] <t4npaper> 3 days all losses
[16:02:18] <t4npaper> this will wear me down fast
[16:02:23] <t4npaper> cant stand it
[16:02:26] <t4npaper> i'm out
[16:02:56] <@wrbtrader> It won't be any easy month...plan for the worst
[16:06:11] <TigermanTrader> exit ES long @ 1669.75 +5 tk
[16:12:08] <@wrbtrader> Covered all Emini ES Short @ 1669.75 --> + 1.5
[16:15:33] <TigermanTrader> take care all see all next time
[16:18:37] <@wrbtrader> Just a churning this afternoon.
[16:19:05] <Zr1trader> Wonder if churning may have been to traders watching news instead of trading.
[16:19:37] <@wrbtrader> Yep
[16:20:09] <@wrbtrader> Only good thing about late afternoon ranges is that they commonly setup strong continuation or trend like price action the following morning.
[16:20:29] <@wrbtrader> Therefore, will not take it easy tomorrow morning.
[16:20:40] <@wrbtrader> Will be trading normally
[16:22:33] <Zr1trader> Alright everyone take care, see you later.
[16:34:13] * NDW is now known as NDWaway
Session Close: Thu Oct 03 20:26:12 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 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 traders in price action trading.

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 price action 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
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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