Price Action Trading (no technical indicators)
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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, WRBs, WRB Hidden GAPs, WRB Zone, WRB/WRB Hidden GAP profit targets, Key Market Events, Reaction Highs/Lows, Expanding Volatility, WRB Zone, R area of WRB Zone, S area of WRB Zone) 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 chat room is is primarily designed for you to use as a
trade journal of your WRB Analysis or real-time trades with time stamp archive....giving you a better understanding of your broker statements from one trade to the next trade when you review your 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 to correlate with your broker statements. Therefore, the usefulness of ##TheStrategyLab chat room is determined via
your participation in the chat room.
Also, ##TheStrategyLab chat room is
not designed to be
educational. Simply, members using the chat room are
not there to teach you how to trade and you will
not see me discussing the reasons (strategies) behind my trades within ##TheStrategyLab chat room because those reasons (strategies) are
only discussed with fee-base clients in a different chat room. Yet, if you want ##TheStrategyLab chat room to be educational or more active in discussing whatever it is that you're trading, we highly recommend that you ask trading related questions about your own trading instead of lurking (not saying anything) because your primary purpose is to improve your trading if you're a struggling trader. Therefore, don't join ##TheStrategyLab and then be
silent. To be silent while using ##TheStrategyLab chat room, you'll be wasting a collaboration opportunity for improving your trading and doing such will make ##TheStrategyLab chat room useless to you.
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.
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 qualify for access to our free ##TheStrategyLab chat room that's located on the Freenode IRC network...please follow the instructions at the TSL Support Forum
@ 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: Mon Jun 08 09:16:54 2015
Session Ident: ##TheStrategyLab
[09:16:55] * Now talking in ##TheStrategyLab
[09:16:55] * Topic is 'Chat room for traders that are using concepts from WRB Analysis to help improve their entry signals, initial stop/loss management, profitable trail stops or profit targets. WRB Analysis free study guide @
http://www.thestrategylab.com/tsl/forum ... 119&t=718'[09:16:55] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[09:16:55] ##TheStrategyLab url is
http://www.thestrategylab.com/tsl/forum/[09:29:39] <Tigerman__>
all
[09:29:46] <mtntrader__>
[09:29:56] <Corner> Good morning all
[09:42:07] <wrbtrader> FYI - Last week set a 20 year record for the tightest range week
[09:42:41] <Corner> Not even Greece could help...
[09:43:10] <wrbtrader> in reference to the Index like S&P 500, Dow Jones and so on
[09:43:38] <wrbtrader> If you had a tough time trading last week...now you know why
[09:44:13] <wrbtrader> Range is obvious. Just don't know when volatility will show up to break it out (up or down)
[09:45:22] <wrbtrader> Today's open for the Emini futures...range with low volatility so far
[09:46:01] <Tigerman__> [15:42] <wrbtrader> FYI - Last week set a 20 year record for the tightest range week wrbtrader this is from some 3rd part info or is your study?
[09:46:20] <wrbtrader> Read it on Bloomberg
[09:46:42] <Tigerman__> ah ok they keep the stat then
[09:47:02] <Tigerman__> regardless this period is the worst x trading
[09:47:29] <Corner> The question is: will it become better soon...
[09:47:44] <Tigerman__> this junk last frpm too long
[09:48:07] <Tigerman__> corner... at this point I have some samll boubt
[09:48:19] <Tigerman__> oops bad typo
[09:49:05] <Corner> At the G7 new tensions with Putin came up
[09:49:12] <wrbtrader> I know someone that bought a seat on CME about one month ago...
[09:49:17] <Tigerman__> simply not tto much work from emerging country and Eu Us to create grown and repay the monster bebt outthere
[09:49:26] <wrbtrader> Now after paying out that money...he's got hardly any trades
[09:49:59] <Tigerman__> it is a reason because I said last week I ll do more and more HFT trading
[09:50:23] <Tigerman__> and after manual I ll plan algos
[09:50:39] <Corner> WRBtrader - Mhhh. How many contracts do you need for breakeven with a seat?
[09:51:22] <Corner> You once said average trade size should be >50...
[09:51:42] <wrbtrader> I think that was a guess and a high number
[09:52:02] <Corner> Depends on the trades per day...
[09:52:02] <wrbtrader> maybe 30 contracts on average and twice the number of trades
[09:53:33] <wrbtrader> Volatility really too low now for several months to consider a seat purchase
[09:54:31] <Tigerman__> several month
? I say sever years
[09:54:58] <Tigerman__> after 2007-08 vola
s apart some small windows
[09:56:09] <Tigerman__> friday TF wa on his own after mid-day
[09:56:17] <Corner> What is the lowest commission out there without a seat? IB charges 2.02$
[09:56:34] <rwbil> buying or renting a seat
[09:57:19] <Tigerman__> yeah including Cme fee
[09:57:58] <Tigerman__> you need 2 things a Cme membership plus a discount x high volume
[09:58:40] <Tigerman__> so around 1$ a side is a good start
[09:59:04] <Tigerman__> the issue is do big volumes
[09:59:28] <Tigerman__> and more important be a PROFITABLE trader
[09:59:44] <Tigerman__> not a easy thing these days
[10:00:42] <Corner> But not impossible when you look at wrbtrader :-)
[10:04:58] <rwbil> if you are able to trade profitable in this environment just think what happens when the next stock bubble happens
[10:06:08] <Tigerman__> [16:00] <Corner> But not impossible when you look at wrbtrader :-) yeah not impossible but... 1) one have to be very confident to rise size
[10:06:19] <Tigerman__> that was my point
[10:06:47] <Tigerman__> 2) not because one trader is profitable = others will be the same
[10:07:12] <Tigerman__> anyway look at a good trader helps a lot
[10:08:02] <Tigerman__> [16:04] <rwbil> if you are able to trade profitable in this environment just think what happens when the next stock bubble happens yeah hopefully that needs ocurs in this generation
[10:09:09] <rwbil> there will be a new bubble somewhere, just got to trade it. might be in bonds
[10:10:43] <Tigerman__> the best deal is simply buy long term bond with high yel
[10:10:59] <Tigerman__> the enjoy like
[10:11:03] <Tigerman__> life
[10:11:22] <Tigerman__> unls the issuer goes bankrupt
[10:13:02] <rwbil> maybe when China stops buying our bonds over the issue of them making islands in the south sea.
[10:13:38] <Tigerman__> greeks bond was a good deal time ago
[10:14:14] <Tigerman__> but others south Eu was best kept secret
[10:14:54] <Tigerman__> simply bankster and their frends know very well where pu the money
[10:15:30] <Tigerman__> in case someone refuse to pay .. then they press goverment like greek now
[10:16:23] <Tigerman__> easy 8-10% gain a year .. not mention the leverage
[10:31:11] <Tigerman__> just tired for today did 15 trades as opened positions
[10:31:41] <Tigerman__> and 45 trades considering the scale out
[10:32:07] <Tigerman__> too much stresfuul x my arms a and fingers
[10:32:36] <Tigerman__> just a tiny gain considering commissions
[10:32:48] <Tigerman__> here a large discount and seat helps
[10:49:28] <rwbil> TF consolidating for a nice expansion soon
[10:51:31] <rwbil> you can really see the nice clean consolidation on SPY 1 min
[11:04:53] <rwbil> this is a test of one's patience
[11:22:20] <Tigerman__> today is a clear example of contracting volatility at his best
[11:22:47] <rwbil> I think I am walking away at 11:30, so it will probably move then
[11:23:10] <Tigerman__> sure I ll the same
[11:23:34] <Tigerman__> who stay and trades have to thanks us a lot
[11:26:35] <wrbtrader> Today is a relenthless low volatility tight trading range...crazy stuff
[11:52:46] <Tigerman__> take care all see next time
[13:34:53] <Corner> Ahh. Price action is back...
[13:35:39] <Corner> DAX testing resistance at 11000...
[13:39:22] <Corner> ES Mini climactic move lower, looks scary - event thought it's only 14 points down
[14:07:02] <wrbtrader> Shorts Emini ES @ 2079.50 -> small size
[14:07:28] <wrbtrader> 3 contracts
[14:13:20] <wrbtrader> WRB pt1 reached
[14:13:37] <wrbtrader> Covered all Emini ES Short @ 2078.50 --> + 1
[14:14:55] <Corner> DAX now below 11000... Greece keeps playing tricks...
[14:33:20] <wrbtrader> Nice volatility spike...first real one of the trading day.
[14:43:33] <wrbtrader> Long Emini ES @ 2084.75 -> small size
[14:43:47] <wrbtrader> 5 contracts
[14:44:16] <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.
[14:44:34] * ChanServ sets mode: +o wrbtrader
[14:46:36] <@wrbtrader> Exited all Emini ES Long @ 2084.00 --> - 0.75
[14:50:57] <@wrbtrader> Long Emini ES @ 2084.75 -> large size
[14:51:34] <@wrbtrader> re-entry with 10 contracts
[14:55:43] <@wrbtrader> Exited all Emini ES Long @ 2084.75 --> 0
[14:56:33] <Corner> Nasty upper shadow in the ES-Mini 5min
[14:58:19] <@wrbtrader> Long Emini ES @ 2084.25 -> large size
[14:58:36] <@wrbtrader> re-entry 8+2 contracts
[14:59:02] <@wrbtrader> 2084.75 is a tough price area
[15:01:43] <@wrbtrader> Exited all Emini ES Long @ 2084.75 --> + 0.5
[15:02:26] <@wrbtrader> If volatility can show up again (soon) before 3:20pm est...I'll try again
[15:10:11] <@wrbtrader> Goldman Confirms This Really Is One Boring Stock Market (Bloomberg) @
http://www.bloomberg.com/news/articles/ ... ock-market [15:10:18] <@wrbtrader>
[15:11:11] <Corner> If they switched off their algos it could be better :-)
[15:11:19] <@wrbtrader>
[15:11:19] <mtntrader__> Ha, back to the Sell in May theory....
[15:14:12] <Corner> PA still look weak to me. I might be influenced by the DAX...
[15:14:51] <Corner> looks
[15:27:09] <@wrbtrader> Take care all and see all tomorrow...hopefully we'll have more volatility and less range.
[15:27:40] <Corner> Take care
[21:15:14] * Disconnected
Session Close: Mon Jun 08 21:15:14 2015
-------------------------
##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:
CME Emini Futures EMD, ES and NQ
ICE Emini TF Futures (formerly CME ER2)
CBOT mini-sized Dow Futures YM
Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50
Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz
Euronext Futures FTSE-100 and CAC-40
CME Futures EuroFX 6E and EC
Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB
Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen, Usd/Cad, Xau/Usd and Xag/Usd
Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD
NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BRN, e-miNY QM and Natural Gas NG
COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI
S&P CNX NIFTY Futures
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
@
http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
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