Price Action Trading (no technical indicators)
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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
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##TheStrategyLab chat room is is primarily designed for you to use as a
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Also, ##TheStrategyLab chat room is
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not there to teach you how to trade and you will
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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 either one WRB Analysis price action commentary involving any key concept from the free study guide, 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. Exceptions to the chat room participation rule involves those traders that are actively posting elsewhere at TheStrategyLab.com (e.g. DOKs at their support forum in the public area or within their private threads)...these traders are then allowed to not participate in the chat room if that's what they prefer to do instead of asking for help with real-time WRB Analysis.
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@ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164Attachment:
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click on the above image to view today's price action of key markets Session Start: Tue Dec 30 09:28:40 2014
Session Ident: ##TheStrategyLab
[09:28:40] * Now talking in ##TheStrategyLab
[09:28:40] ##TheStrategyLab url is
http://www.thestrategylab.com/tsl/forum/[09:38:30] * Tigerman__ (~Tigerman@host215-239-dynamic.30-79-r.retail.telecomitalia.it) has joined ##TheStrategyLab
[09:50:15] <TradeSnake______> Good morning all!
[09:50:25] <TradeSnake______> KME at 10am CB Consumer Confidence
[09:53:11] <wrbtrader> Good morning all
[09:53:17] <Volker_>
[09:53:21] <Trader_Uy> GM
[09:53:26] <mmm___> GM
[09:53:30] <wrbtrader> Some quick points involving an email I just sent someone in here.
[09:53:34] <Lightenup>
[09:53:48] <wrbtrader> There's a big misunderstanding and I'm very confused abouot the misunderstanding
[09:53:59] <wrbtrader> 1) WRB Analysis are NOT trade signals
[09:54:39] <wrbtrader> 2) FVB strategy is a teaching strategy of key concepts. It does NOT produce a lot of trade signals...its designed the way intentionally by me.
[09:55:00] <wrbtrader> 3) You're suppose to have your OWN trade signal strategies what ever that may be
[09:55:00] <Tigerman__>
all
[09:56:07] <wrbtrader> 4) If you're trade signal strategies do not produce enough signals for you. I can't fix that unless you tell me what is your trade strategies...most for some strange reason do NOT share their strategies with me even though they continue not able to see trade signals.
[09:56:15] <Tigerman__> sh iwm 121.02
[09:56:33] <wrbtrader> 5) You're suppose to MERGE your trade signals (whatever that is) with WRB Analysis
[09:56:59] <Tigerman__> exit 1/2 iwm 12o.96 +6tk
[09:58:03] <wrbtrader> 6) Most complain there's "too many" WRB Zones while a few complain they just don't get any Zones or very little. Think about that carefully...if someone is getting too many while you're having problems seeing any...there's something wrong.
[09:58:12] <Tigerman__> exit 1/3 120.86 +16 tk
[09:58:35] <wrbtrader> 7) FVB gives some critical tips about INCREASING your number of Zones or Trade Signals
[09:59:00] <wrbtrader> One of those tips (discuss in here often)...use other correlated price actions
[09:59:13] <wrbtrader> This was discussed recently the other day
[09:59:33] <wrbtrader> For example, pretend you're trading Treasury ZB futures
[10:00:28] <wrbtrader> You should also be watching the Yields (inverse price action), ZN, ZF futures and anything else you have access to as correlated price actions for trading Treasury ZB futures
[10:00:52] <wrbtrader> I use ZB in my example because last night I got an email from a Treasury ZB trader
[10:01:32] <wrbtrader> He had said in prior conversations he was only getting ONE WRB Zone per week and only TWO trade signals per week just on ZB.
[10:01:47] <wrbtrader> I think his trade signals was something involving the MACD indicator
[10:02:48] <wrbtrader> He then MERGE his trade signal with WRB Analysis (took me about 6 months to get him to do it), started watchign 3 additional intervals, he also started watching Yields, ZN and ZF futures...all highly correlated with ZB.
[10:03:24] <Tigerman__> exit all rem IWM 120.84 +18 tk
[10:03:35] <wrbtrader> Now he's complaining he's getting "too many" WRB Zones and that now that his trade signal is merged with WRB Analysis...he's getting "too many" trade signals.
[10:03:57] <Tigerman__> small size because not fully prepared to trdae today
[10:04:01] <wrbtrader> Its you're responsibility to follow those TIPS you learn from the FVB strategy.
[10:04:03] <Tigerman__> trade
[10:04:48] <wrbtrader> If you're having problems with "too little"...the FVB gives excellent tips for how to INCREASE your number of Zones and Signals even if they have NOTHING to do with the FVB signal itself
[10:05:18] <wrbtrader> FVB is just a teaching strategy...its concepts are for application to your own trade strategies.
[10:05:23] <Tigerman__> sh iwm 120.74
[10:05:31] <wrbtrader> I get about one FVB trade signal per week.
[10:05:54] <Trader_Uy> is this for the basic or advanced FVB strategy mark?
[10:05:54] <wrbtrader> In contrast, I see its key concepts in about 15 times per day in my other trade signal strategies
[10:06:09] <Tigerman__> exit 1/2 at 70 +4t
[10:06:25] <wrbtrader> Trader...this conversation is for the WRB Analysis free study guide and YOUR trade strategies...I'm very specific about this
[10:06:41] <wrbtrader> If you want to apply it to advance chapter 4...
[10:06:44] <wrbtrader> That's Ok too
[10:07:19] <wrbtrader> In the free study guide...it talks about KME (key market events)
[10:07:46] <wrbtrader> Free study guide also explains one particular key market event called "breaking news"
[10:08:03] <wrbtrader> It also explains you don't need to pay tons of money for real-time news.
[10:08:19] <Tigerman__> exit 1/3 iwm at 57 +17 t
[10:08:25] <wrbtrader> It recommends using Twitter and Stocktwits (both free) as a source to get your real-time news.
[10:08:31] <wrbtrader> It's what I do
[10:08:49] <wrbtrader> reason why I have strongly recommended it in the WRB Analysis free study guide
[10:09:40] <wrbtrader> Social media is amazingly fast these days...most of the breaking news events involving the markets will hit social media FIRST before it hits the major financial news networks.
[10:09:58] <wrbtrader> For exampl, when 911 happen while I was in the chat room...
[10:10:12] <Tigerman__> exit all rem IWM at 120 .66 +9tk
[10:10:21] <wrbtrader> One of the members in here was in an office near those buildings...
[10:10:40] <wrbtrader> He said he just saw a plane crash into one of the towards...chatted in here.
[10:10:53] <wrbtrader> I was also watching CNBC at that time.
[10:11:11] <wrbtrader> CNBC then talked about it 6 minutes after it happen
[10:11:32] <wrbtrader> That means the chat room got the info 6 minutes earlier before it hit the major financial networks
[10:11:49] <wrbtrader> Bloomberg discussed it 3 minutes later AFTER CNBC
[10:12:27] <Volker_> Do you remember, how the markets reacted in that minutes?
[10:12:30] <wrbtrader> My point...don't underestimate Twitter and STocktwits as a real-time news source. They really are good and you have millions of eyse on the markets for you
[10:12:42] <Trader_Uy> problem is a major news chain has to confirm the news is true
[10:12:45] <wrbtrader> Volker...yes
[10:12:51] <Trader_Uy> and that a kind of news thats usually not true
[10:13:18] <wrbtrader> First two minutes the data look immediately contracted...very tight intervals of a few ticks...
[10:13:26] <Trader_Uy> 911 received hundreds of calls each day saying a plane is crashing somewhere
01[10:13:54] <wrbtrader> I'm not talking about 911 (emergency operator)
01[10:14:20] <wrbtrader> I'm talking about the 911 (September 11th bombing of the twin towers)
[10:14:33] <Trader_Uy> what I mean is.. news not only have to be fast.. they also have to be reliable
01[10:15:02] <wrbtrader> I'm also talking about how fast the news spread on social media by EYEWITNESS before it hit the major financial news newsworks
[10:15:11] <Volker_> How would you interpret the contraction in the first 2 minutes?
[10:15:22] <Volker_> State of shock?
01[10:15:33] <wrbtrader> With out the news...contraction in price action is normal
01[10:16:13] <wrbtrader> With the news...its means traders are STUNNED...pausing...trying to interpret what has just happen...watching their screens instead of trading...
01[10:16:43] <wrbtrader> Next, as soon as they realize what's going on...prices explode upwards or downwards depending on the market you're trading
[10:17:17] <mmm___> wrbtrader: Do you usually wait until a certain time after the market opens before you start trading?
01[10:17:36] <wrbtrader> mmm...I trade when I get a trade signal
01[10:17:43] <wrbtrader> I don't care when that trade signal occurs
[10:17:57] <mmm___> Great
01[10:18:41] <wrbtrader> My point with Twitter and Stocktwits as a news source...
03[10:19:26] * Lightenup (~Lightenup@1.47.132.232) has joined ##TheStrategyLab
[10:19:28] <Trader_Uy> I dont know how to use twitter.. do you have to follow somebody in particular that ''tells'' you the news?
01[10:19:32] <wrbtrader> When you see your price action start trending and you start seeing big WRB Hidden GAP intervals...pay a littel more attention to your news feed just in case there's a news event
01[10:19:49] <wrbtrader> If there's a news event...you then sit back and wait for a WRB Hidden GAP to appear
01[10:20:09] <wrbtrader> If you get a WRB Hidden GAP...you then sit back and wait to see if a WRB Zone shows up
01[10:20:32] <wrbtrader> If you get a WRB Zone...you then wait and see if one of your trade signal strategies appears within the WRB Zone
[10:20:53] <mmm___> Ransqawk is $31 a month for their 1 minute delated news. Sometimes it's helpful.
01[10:21:14] <wrbtrader> Most of the users of the WRB Analysis free study guide are using any of the following trade signal strategies:
01[10:23:58] <wrbtrader> Trendline breakouts, VSA, CCI, MACD, Stochastics, Japanese Candlestick patterns, S/R levels, Gap strategies, Channel trading, Flags, pennant trend strategy
01[10:24:20] <wrbtrader> That's the most common stuff I see
01[10:24:50] <wrbtrader> Therefore, when someone tells me they don't get that many trade signals while not telling me what is their trade signal...its very difficult for me to help
[10:25:25] <Volker_> Do they earn money with CCI, MACD and that stuff?
01[10:25:28] <wrbtrader> I immediately assume they really aren't asking for help but are just
with their trade strategy (whatever that is) on that particular trading day
01[10:25:46] <wrbtrader> Volker...I don't know.
[10:26:16] <Tigerman__> lg iwm 120.94
01[10:26:22] <wrbtrader> I'm just revealing what the common user of the WRB Analysis free study guide are using...
[10:26:27] <Trader_Uy> how would somebody make money with lagging indicators?
[10:26:28] <Tigerman__> small size and tight stop
01[10:26:40] <wrbtrader> TraderUY...it doesn't matter
[10:27:00] <Trader_Uy> I only care what the WII people are doing.. not what the common user is using
01[10:27:03] <wrbtrader> That's the point of WRB Analysis...it doesn't matter if your trade strategy is profitable or NOT
01[10:27:22] <wrbtrader> What matters is the following...
01[10:27:34] <wrbtrader> involving YOUR trade strategy...Tutorial Chapter 3
[10:27:38] <Trader_Uy> I can get thousands of people using different things... I dont care I care only what works and its proven to work a(at least in the past)
01[10:27:55] <wrbtrader> Trader_Uy...please read.
01[10:27:59] <wrbtrader> It does NOT matter
01[10:28:04] <wrbtrader> The following matters:
[10:28:22] <Tigerman__> exit all 93 -1 tk
01[10:28:40] <wrbtrader> Your strategy (doesn't matter if it works or not)...will sometimes produce WRB Zones as stated in tutorial chapter 3
01[10:29:06] <wrbtrader> That's the only important issue involving WRB Analysis
01[10:29:43] <wrbtrader> It does not matter if you trade your trade signal when it appeared...doesn't matter if it resulted as a profit or loss
01[10:29:55] <wrbtrader> What matters is if it produced a WRB Zone
01[10:30:09] <wrbtrader> Swing point or Strong Continuation price action
01[10:30:22] <wrbtrader> If you concentrate on that first...everything else will follow
[10:30:36] <Trader_Uy> I dont get how a losing strategy will produce a WRB zone that I will use profitable
01[10:30:39] <wrbtrader> If you concentrate of the profit/loss issue first...You will get lost
01[10:31:12] <wrbtrader> Trader_Uy...you need to read tutorial chapter 3
01[10:31:27] <wrbtrader> Its about Zones...not profits/losses
[10:31:30] <Tigerman__> sh iwm 120.82
01[10:32:06] <wrbtrader> For example...
01[10:32:16] <wrbtrader> Yesterday I had 5 trade signals I didn't take...
[10:32:16] <Tigerman__> exit 1/2 76 +6t
[10:32:29] <Trader_Uy> from my understanding what WRB zones are for taking trades within them with an ''increased'' probability of winning
01[10:32:35] <wrbtrader> I didn't take them because I wasn't trading at the time they appear
01[10:32:55] <wrbtrader> Yet, they were still valid even though I was at the grocery store buying groceries
[10:33:28] <Tigerman__> exit all rem 80 +2 tk price stall here
01[10:33:36] <wrbtrader> Upon examining the "missed trade signals"...two of them produced a valid WRB Zone.
01[10:33:51] <wrbtrader> The other 3 produced swing point WRB Zones
01[10:33:58] <wrbtrader> There was no profit/loss
01[10:34:04] <wrbtrader> I was not here trading them
01[10:34:24] <wrbtrader> One of those WRB Zones I saw upon returning to my computer...
01[10:34:37] <wrbtrader> I then got anothe trade signal that appeared within the WRB Zone.
01[10:34:49] <wrbtrader> I traded it...resulted in a profit
01[10:35:02] <wrbtrader> That's tutorial chapter 3
01[10:35:16] <wrbtrader> Its not about only using WRB Zones that you traded
01[10:35:29] <wrbtrader> You don't need to be here...you don't need to be trading to get valid WRB Zones
01[10:35:56] <wrbtrader> You can go to
...no longer trading...wake up tomorrow, review your charts and see valid WRB Zones
01[10:36:36] <wrbtrader> Their validity has nothign to do if you traded them or not...has nothing to do with if you saw them occur in real-time or not
01[10:37:14] <wrbtrader> Trader_Uy...I recommend you re-read chapter 3 again.
01[10:37:27] <wrbtrader> Its about TRADE SIGNALS...not about trades.
01[10:38:05] <wrbtrader> 75% of my tutorial chapter 3 WRB Zones...I didn't trade it.
01[10:38:14] <wrbtrader> I just wasn't here when the trade signal appeared
01[10:38:37] <wrbtrader> Another example...
01[10:38:47] <wrbtrader> Today I've had two trade signals...not traded
01[10:38:58] <wrbtrader> Yet, they both qualified as a WRB Zone
01[10:39:32] <wrbtrader> That's why I will state strongly...WRB Analysis free study guide involving tutorial chapter 3 is NOT about profits/losses
01[10:39:46] <wrbtrader> Its about WRB Zones via your strategies...whatever strategies you're using
01[10:40:09] <wrbtrader> The best trader in here was a guy name Jazz
[10:40:18] <Tigerman__> sh iwm 120.78
01[10:40:37] <wrbtrader> All of his WRB Zones...every single one of them...was via trade signal strategies he didn't use
[10:40:38] <Tigerman__> always small size just some experiment
01[10:41:10] <wrbtrader> He got his Zones from Candlestick patterns even though he doesn't thing they're profitable
[10:41:17] <TradeSnake______> Long YM @ 17909
01[10:41:37] <wrbtrader> He got his Zones from Fib ratios...even though he didn't believe in their prediction
01[10:41:50] <wrbtrader> All he cared about was IF/WHEN they produced a WRB Zone
01[10:42:17] <wrbtrader> Did it produce a swing point price action or a strong continuation price action
[10:42:24] <Tigerman__> exit 1/2 at 74 +4t
01[10:42:38] <wrbtrader> If they did...they then qualified as a WRB Zone
[10:42:50] <Trader_Uy> so if he didnt trade those signals.. they became a zone and by definition they were profitable as a signal also but he didnt take them
[10:43:06] <Trader_Uy> like the candle at TF 1min 9:54
01[10:43:15] <wrbtrader> In contrast, his actual trade signals involved something he followed in Bid/Ask (DOM stuff)
[10:43:16] <Trader_Uy> we doesnt know it will be or not profitable
[10:43:20] <Tigerman__> exit all rem 77 +1t
[10:43:30] <Trader_Uy> but in the end was profitable and maybe formed a zone
[10:43:37] <Trader_Uy> so we can use it in the future
01[10:43:54] <wrbtrader> In theory...yes
01[10:43:59] <wrbtrader> In reality...no
01[10:44:18] <wrbtrader> I reality...you should have a trade signal that you believe in.
01[10:44:30] <wrbtrader> Your trade signals need to occur in a WRB Zone to be valid
[10:44:41] <Trader_Uy> yes like a long wick candle at a swing point
01[10:44:48] <wrbtrader> Your WRB Zone source doesn't need to be via a trade signal that you believe in
01[10:45:00] <wrbtrader> Its just needs to be a WRB Zone...that's my point
[10:45:22] <Trader_Uy> I see your point mark
[10:45:38] <Trader_Uy> I think what I need are practical examples
[10:45:51] <Trader_Uy> but with time I will see it on a 100%
01[10:46:00] <wrbtrader> If you don't believe in FOMC rate announcements or you don't believe they can impact the markets...
01[10:46:11] <wrbtrader> That doesn't mean they can't produce WRB Zones
01[10:46:24] <wrbtrader> If you start ignorning sources for WRB Zones...
[10:46:24] <Volker_> But others need to believe in these trade signals to make the WRB-Zone work?
01[10:46:55] <wrbtrader> You'll eventually begin missing your own trade signals even if they have NOTHING to do with the WRB Zone they occurred inside
[10:46:58] <TradeSnake______> Covered 1/2 YM Long @ 17917 --> +8
01[10:47:11] <wrbtrader> 10:46:24] <Volker_> But others need to believe in these trade signals to make the WRB-Zone work?
01[10:47:25] <wrbtrader> Yep, exactly.
[10:47:31] <Volker_> I see...
01[10:48:10] <wrbtrader> I don't believe in VSA trade signals...but that doesn't mean they cna't produce WRB Zones
[10:48:52] <Trader_Uy> I think signals that produce a WRB zone but we (in purpose) dont use it to trade but just to make Zones we should call them WRB zone Signals
[10:48:57] <Trader_Uy> instead of trade signals
[10:49:23] <Volker_> Time go get the whole fib, macd, stochastics crab back to work...
01[10:49:25] <wrbtrader> Its a "trade signal"...you don't need to trade it for it to be a trade signal
[10:50:09] <Trader_Uy> this is very good info today here Mark.. I guess we all want to be like Jazz
[10:50:13] <Trader_Uy> where is him at now?
01[10:50:27] <wrbtrader> That's like saying if I saw a valid trade signal 15 minutes ago and I didn't trade it for whatever reason(e.g. talking too much, eating breakfast, on the toilet)...
01[10:50:40] <wrbtrader> That trade signal is then NOT valid...
01[10:50:42] <wrbtrader> That's wrong
[10:51:00] <rwbil1> I did not use or discuss my trade signals because I never could trade them profitable
01[10:51:05] <wrbtrader> Its just a trade signal i missed
01[10:51:08] <wrbtrader> That's all
[10:51:17] <Volker_> Maybe we should look on stocktwits and twitter to do a word count on fib, rsi, macd get an idea what's used these days...
01[10:51:27] <wrbtrader> rwbil...the issue...once again...
01[10:51:36] <wrbtrader> Its not if they produce profits or losses
01[10:51:46] <wrbtrader> The issue is do they produce WRB Zones
[10:51:47] <rwbil1> Plus there is more than just the signal there is managing the trade
01[10:52:07] <wrbtrader> For example...last week...
01[10:52:17] <wrbtrader> I got a particular valid trade signal...
01[10:52:22] <wrbtrader> I traded it...
01[10:52:32] <wrbtrader> I got a trade loss of -1 point
01[10:52:42] <wrbtrader> Yet, that trade signal produced a valid WRB Zone
01[10:52:56] <wrbtrader> 20 mins after that...I get a different trade signal...
01[10:53:10] <wrbtrader> Within the WRb Zone of that prior LOSING trade signal
01[10:53:19] <wrbtrader> I then nailed a big profitable trade
01[10:53:53] <wrbtrader> Losing trades can creat WRB Zones
[10:53:53] <rwbil1> For example I just took a Sim trade in CL. Used my signal as you stated and got stopped out. But maybe I traded it badly. I would show but it is a Chapter 4 WRB zone
01[10:54:02] <wrbtrader> Profitable trades can create WRB Zones
[10:54:21] <Trader_Uy> but was that losing signal enough valid to produce a swing point or a strong continuation price action to form a valid zone?
01[10:54:42] <wrbtrader> If its valid...its valid
01[10:54:56] <wrbtrader> no if...enough...or maybe
01[10:55:00] <wrbtrader> Its valid or not valid
[10:55:16] <Trader_Uy> but mark was that valid signal out of a zone?
01[10:55:17] <wrbtrader> If its valid and you see it in real-time...trade it.
01[10:55:33] <wrbtrader> All trade signals must occur in a Zone
[10:55:54] <Trader_Uy> I mean signals used to create a new zone
[10:56:13] <Trader_Uy> or strategies used to create zones
01[10:56:18] <wrbtrader> Trader_Uy...that's exactly what tutorial chapter 3 is about
01[10:56:27] <wrbtrader> Please read it...its an important chapter
[10:56:30] <Trader_Uy> ok
01[10:56:40] <wrbtrader> Actually, its a very easy read
[10:56:50] <Trader_Uy> I was only focusing on chapt 2 and 4 for now like you told
01[10:57:00] <wrbtrader> Its generic and basically tells you to use "trade signals"
[10:57:08] <rwbil1> to me more than just the signal. But where to put the stop how to raise the stop and etc.
01[10:57:09] <wrbtrader> Doesn't matter if they're profitable or not
01[10:57:22] <wrbtrader> What matters is did the trade signal result as a WRB Zone
01[10:57:40] <wrbtrader> doesn't matter if you trade it or not and doesn't matter if you were profitable if you trade it
01[10:57:52] <wrbtrader> The only thing that matters if it resulted as a WRB Zone
[10:58:07] <Trader_Uy> what I ask is.. does this trade signal that resulted as a WRB zone has to be previously on a zone (that obviously came from the past)?
01[10:58:16] <wrbtrader> Yes
01[10:58:30] <wrbtrader> All trades must occur within a Zone
[10:58:42] <Trader_Uy> so its like extending a past zone into the future
[10:58:52] <rwbil1> I will skype you my trade and let me know if I managed it badly
01[10:58:58] <wrbtrader> The trades themselves can qualify as a Zone...its like a circle being repeated if it qualifies as a Zone
01[11:00:27] <wrbtrader> Once you understand fully tutorial chapter 3...ignoring the issue of profit/loss, missed trade or not...concentrating on WRB Zone only...
01[11:01:14] <wrbtrader> You will then see the value of your own trade strategies as a source of WRB Zones, S/R levels, profit targets for other trades you take AFTER that profitable/lossing trade signal.
01[11:01:44] <wrbtrader> That's why I tell people...
01[11:01:50] <wrbtrader> I don't forget my losing trades
01[11:02:04] <wrbtrader> They may still be a source to help the trades that occurs after them
01[11:02:40] <wrbtrader> Its very common for me to have a losing trade that sets up another trade that in which that other trade results as a big profit
01[11:03:07] <wrbtrader> Generic example...
01[11:03:26] <wrbtrader> I go Long in Emini TF at 1000am est for whatever trade signal via the 5min chart...
01[11:03:41] <wrbtrader> It results as a loser of -1.5 points
01[11:04:08] <wrbtrader> Yet, it resulted as a valid swing point WRB Zone when the price action dropped.
01[11:04:24] <wrbtrader> see the connection
01[11:04:39] <wrbtrader> I went Long...it resulted as a loss because the price action dropped
01[11:05:00] <wrbtrader> During the price drop...it resulted as a reversal (swing point)
01[11:05:19] <wrbtrader> My losing Long signal resulted as a swing point in which price action dropped.
01[11:05:31] <wrbtrader> Price action then continues dropping...
01[11:05:50] <wrbtrader> Then it stalls and moves back upwards...into the range of that WRB Zone.
[11:05:57] <Tigerman__> sh iwm 120.85
01[11:06:00] <wrbtrader> I then get a Short Signal in that WRB Zone
01[11:06:15] <wrbtrader> It dropped again big time...resulting as a big profitable Short position
01[11:06:27] <wrbtrader> Does any one in here understand that generic example now...
01[11:06:38] <wrbtrader> I hope so...its a critiacl point in trading
[11:06:44] <Volker_> I do...
01[11:06:53] <wrbtrader> involving tutorial chapter 3 WRB Zones
[11:07:00] <rwbil1> you talk about any signal to aid in the forming of the WRB, but the trade signal cannot be just any signal
01[11:07:22] <wrbtrader> It obviously must be a trade signal you understand
[11:07:29] <mtntrader> Yes, very interesting discussion. I need to re-read Chapter 3.
[11:07:32] <rwbil1> Heck I have tons of trade signals that have never work
01[11:07:36] <wrbtrader> I don't understand Fib Ratios...
[11:07:45] <Tigerman__> exit 1/2 120.81 +4t
01[11:07:45] <wrbtrader> Therefore, I can't use them as a source of WRB Zones
01[11:08:06] <wrbtrader> I understand VSA.
[11:08:23] <Lightenup> I am trying to understand it but need to go through it again and continue re reading chapters 2 and 3.
01[11:08:28] <wrbtrader> Therefore, I can use them as a source of WRB Zones even though my own entry trade strategies has nothing to do with VSA
[11:09:18] <rwbil1> For example. I studied Wyckoff; Spring and Upthrust; but never been able to consistenly trade it profitable. should I now use that inside the WRB. The reason I used the FVB strategy was in the hope it was a trade startegy that worked
[11:09:50] <Tigerman__> exit all rem iwm 82 +3tk
01[11:09:56] <wrbtrader> FVB works...its just not a good source for active signals...as designed to NOT be active
[11:10:06] <rwbil1> I get that
01[11:10:12] <wrbtrader> Its designed to teach key concepts
[11:10:20] <rwbil1> but am I now suppose to use all my signals taht never worked inthe past
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01[11:10:56] <wrbtrader> rwil...you're suppose to use what you know and comfortable in still using...especially considering you know you won't actually be trading them
01[11:11:38] <wrbtrader> Lets pretend you know A LOT of stuff
01[11:11:43] <wrbtrader> You know them well
[11:11:44] <rwbil1> I understand using my signals, good or bad, for forming the WRB, but once inside teh WRB I am not confident in any of my signals
[11:11:48] <Tigerman__> sh iwm 74
01[11:12:10] <wrbtrader> Question for you rwbil...
[11:12:21] <Tigerman__> exit 1/2 69 +5tk
01[11:12:45] <wrbtrader> The signals you're using...are they embedded with WRB Analysis or you using your trade signals that do not involve WRB Analysis
[11:12:45] <Tigerman__> vola increase here
01[11:13:15] <wrbtrader> For example...VSA doesn't involve WRB Analysis.
01[11:13:42] <wrbtrader> I would then ask you if you've merged it with WRB Analysis to see if they improve in their results
[11:13:56] <rwbil1> I used these signals before I began WRB. Now lookign at them inside the WRB as I sent the imagae of my trade today in skype. It was a consolidation TL BO and then entry bar confirmation
[11:14:05] <Tigerman__> exit 1/3 67 +7t
[11:14:48] <rwbil1> Cannot answer if they improved my results because I am still to new to this to answer with any stats
[11:14:52] <TradeSnake______> Flat on remainder of YM @ 17913 --> +5
[11:14:54] <TradeSnake______> Lost internet connection and could not manage trade properly
[11:14:58] <Trader_Uy> Im still confused...
01[11:15:42] <wrbtrader> Merging your trade strategies with WRB Analysis means one or both of the following:
[11:15:43] <Tigerman__> exit all rem IWM 120.69 +5tk
[11:15:45] <rwbil1> As we have discussed many of the WRBs I was using did nto actually Qualify so I am still workig on that
01[11:16:10] <wrbtrader> 1) You're only trading your signals that occurs within (shares a tick) a WRB Zone
[11:16:13] <rwbil1> Yes I am one of those persons having problems finding WRB zones that meet all the qualifications
01[11:17:03] <wrbtrader> 2) Your trade strategy involves a WRB, WRB Hidden GAP interval as part of the trade signal but it still must occur within a WRB Zone
[11:18:00] <rwbil1> In my last trade price entered into teh WRB zone and then I took the BO of the zone. So obviously the BO ended outside the zone.
[11:18:28] <rwbil1> Was the trade I sent you via Skype legit?
[11:18:39] <Trader_Uy> you said you took a long trade from a valid signal.. this trade loss... okay I got it until here... BUT you using this trade signal to form a new zone.. but you already had a zone because you needed it to place the long trade in the first place.. so the new zone will be at same levels as your previously zone.. so I dont understand how this adds any value
having a new zone in top of
[11:18:40] <Trader_Uy> the previous one...
[11:18:47] <rwbil1> you talk about it being valid, but I am not sure if it is valid or not
[11:19:29] <rwbil1> Trader VY I sent the trade and logic via skype because it was a Chapter 4 zone
[11:19:38] <rwbil1> we need a Chapter 4 room
[11:19:52] <rwbil1> so I cannot discuss the zone creation
[11:19:54] <wrbtrader> rwbil...you're not asking the right question
[11:20:22] <wrbtrader> You asking if the WRB Zone was valid or if your trade signal was a valid trade signal...two different question
[11:20:40] <rwbil1> I am asking both questions
[11:20:40] <wrbtrader> I'll just answer your skpe message about the WRB Zone...not the trade signal itself
[11:21:08] <wrbtrader> reason I can' answer about your trade signal...I really don't know what is your trade signal and I don't know the rules of your trade signal (breakouts of flag / pennant patterns)...right
[11:21:27] <wrbtrader> I can only answer about the WRB Zone because I know the rules for the Zone
[11:23:03] <rwbil1> Getting the zone right is half the battle and I thank you for validating my zone. But you talk as if I have a solid trade signal I have faith in and I do not[11:23:18] <rwbil1> This is the type of stuff I wanted to discuss with you
[11:29:19] <wrbtrader> for others not privileged to the Skype conversation...
[11:29:45] <wrbtrader> I'm in a conversation with rwbil...good trade signal...just a problem with the trade management after entry
[11:30:27] <mmm___> wrbtrader: Do you often use skype?
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[11:43:32] * TradeSnake______ (~TradeSnak@ip68-106-39-74.ph.ph.cox.net) has joined ##TheStrategyLab
[11:44:17] <wrbtrader> Some folks still having problems in understanding how a "losing trade" can result as a valid WRB Zone.
[11:44:40] <wrbtrader> Thus, I'm going to now make a generic chart example of this...give me a few minutes to do such.
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[13:08:16] <wrbtrader> I just got back
[13:11:57] <Trader_Uy> good
[13:32:29] <Tigerman__> not sure if i m here dec 31 happy celebration for the new year all
[13:32:42] <Tigerman__> take care
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[13:44:35] <TradeSnake______> Short YM @ 17900
[13:47:12] <TradeSnake______> Stop to BE +1
[13:48:36] <TradeSnake______> Flat +1
[15:27:04] <wrbtrader> Emini TF futures 1min chart WRB Zone @ 1436pm est
[15:36:34] <CaydenV> I C it -thanks.
[15:37:36] <mmm___> wrbtrader: Is the the only valid WRB Zone on the 1 min. TF since the open today?
[15:37:58] <mmm___> "Is that the..."
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[18:52:14] * Trader_Uy (
Trader_Uy@r167-60-18-239.dialup.adsl.anteldata.net.uy) has joined ##TheStrategyLab
Session Close: Wed Dec 31 00:00:00 2014
-------------------------
##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
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WRB Analysis.
Therefore, we welcome
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The purpose of ##TheStrategyLab is that it's designed to be a
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ICE Emini TF Futures (formerly CME ER2)
CBOT mini-sized Dow Futures YM
Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50
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Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that ##TheStrategyLab is a serious professional
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Note: chat logs saved (timestamp) from Québec, Canada in eastern daylight time Best Regards,
M.A. Perry
Trader and Founder of
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Price Action Trading
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