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 Post subject: July 1st Wednesday - Futures, Forex, Stocks and ETFs
 Post Posted: Wed Jul 01, 2015 7:42 pm 
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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=164

##TheStrategyLab Archive Chat Logs

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

Session Start: Wed Jul 01 09:32:19 2015
Session Ident: ##TheStrategyLab
[09:32:20] * Now talking in ##TheStrategyLab
[09:32:20] * 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'
[09:32:20] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[09:32:20] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:33:12] <Corner> Good morning all.
[09:33:28] <Corner> Looking for a gap fade.
[09:33:32] <mtntrader__> Morning
[09:34:37] <wrbtrader> FYI - Greece has finally agreed to "all conditions" placed on them by the IMF to get a bailout.
[09:35:05] <wrbtrader> I'm not sure if that means they still need to have a July 5th referrendum vote to approve those "all conditions"
[09:35:17] <Corner> ...but who believes them...
[09:35:22] <wrbtrader> exactly
[09:36:14] <wrbtrader> Banks still remain closed and that implies July 5th must still be a go
[09:38:46] <Tigerman__> hi wrbtrader I was busy with a CL trade
[09:41:47] <Tigerman__> [15:34] <wrbtrader> I'm not sure if that means they still need to have a July 5th referrendum vote to approve those "all conditions" YES Germany said they want referendum
[09:42:01] <Tigerman__> before duscuss again
[09:42:26] <Tigerman__> banks close till July 5
[09:42:27] <Corner> Wise move, I think
[09:42:50] <Tigerman__> umh it is a telenovela
[09:43:09] <Tigerman__> simply both parts are NOT serious
[09:43:40] <Tigerman__> or simply act for own money
[09:43:57] <Tigerman__> PRIVATE money due with tax
[09:44:45] <Tigerman__> this mess cost about up 2000€ for some EU tax payer :(
[09:45:04] <Corner> sunk cost already
[09:46:15] <Corner> sh iwm 125.70
[09:46:20] <Tigerman__> simply people have to realize some country are bankrupt from long time
[09:46:33] <wrbtrader> Shorts Emini ES @ 2069.25 -> large size
[09:46:41] <wrbtrader> 10 contracts
[09:47:33] <Corner> closed 1/2 iwm 125.45
[09:48:03] <wrbtrader> Covered all Emini ES Short @ 2070.00 --> - 0.75
[09:48:19] <Corner> close all iwm 125.55
[09:48:42] <Tigerman__> hi corner do you use book trader in IB ?
[09:48:50] <Corner> No
[09:48:56] <wrbtrader> Short Emini ES @ 2069.75 -> large size
[09:49:01] <Tigerman__> because I have issue with his auto-centering
[09:49:22] <wrbtrader> Shorts Emini ES @ 2069.75 -> large size
[09:49:52] <wrbtrader> re-entry
[09:51:49] <wrbtrader> Covered all Emini ES Short @ 2070.50 --> - 0.75
[09:53:17] <wrbtrader> range in ES is getting tighter
[09:53:25] <wrbtrader> Its got to expand here soon
[09:56:18] <Tigerman__> Kme at 10am maybe shake something
[09:56:36] <wrbtrader> that's what I'm hoping for
[09:56:59] <Tigerman__> so what do you use for order entry corner ?
[09:57:30] <Corner> Tiger - Bracket Trader
[09:58:02] <Tigerman__> ok but it is IB tool or external?
[09:58:31] <Corner> It's external. You can test it for free.
[09:59:09] <Tigerman__> ah ok I ll look at their website thanks
[10:01:20] <wrbtrader> volatility very low in the Emini futures
[10:01:47] <wrbtrader> Extremely strange with all the Greece info yesterday, today and pending into July 5th
[10:01:59] <wrbtrader> Almost as if the firms are staying away
[10:03:04] <wrbtrader> Long Emini ES @ 2073.75 -> large size
[10:05:08] <wrbtrader> :(
[10:05:33] <wrbtrader> scary with this type of volatility right now
[10:05:36] <Corner> IWM/TF looks better than ES today
[10:08:07] <wrbtrader> Exited all Emini ES Long @ 2073.00 --> - 0.75
[10:08:59] <wrbtrader> Long Emini ES @ 2072.00 -> large size
[10:09:06] <wrbtrader> re-entry
[10:09:43] <wrbtrader> these trades are not stop outs...
[10:09:54] <wrbtrader> I'm just dumping them when I lose my patience
[10:12:59] <wrbtrader> Exited all Emini ES Long @ 2071.25 --> - 0.75
[10:13:41] <wrbtrader> back to my original trade price
[10:14:07] <wrbtrader> it tried hard to expand but the volatility has been taken out of the market
[10:14:38] <wrbtrader> With all the context the past several days...don't blame them for just sitting on their hands so far today
[10:17:16] <Tigerman__> wrbtrader.. time aho you said ypou do not use the dome as order entry my question is which kind of tool do you use for entry ?
[10:17:44] <Tigerman__> I mean tradestatio has a fast entry window but..
[10:17:52] <wrbtrader> Your definition of DOME is different than mine...do you remember ?
[10:18:10] <Tigerman__> good to enter at market but seems hard for me modify stop levels
[10:18:15] <wrbtrader> DOME and entry menu are different things
[10:19:05] <Tigerman__> yes what I mean is how do you move your stop and target level
[10:19:26] <Tigerman__> I m not familiar wit TT
[10:19:48] <wrbtrader> My initial stop is automated upon entry
[10:19:54] <wrbtrader> Its always -4
[10:20:04] <wrbtrader> unless I manually change it
[10:20:17] <Tigerman__> so not sure if you move your mouse across a matrix or what to cadjust your stop
[10:20:33] <Tigerman__> yes I mean manual adjust
[10:20:46] <wrbtrader> When I manually change...I CAN (if I want) and do such on a my price ladder (that's not a DOME)
[10:21:12] <wrbtrader> My DOME is independent of my price ladder
[10:21:45] <Tigerman__> what is the difference in your platform in Dome vs price ladder
[10:22:10] <rwbil001> 8 min to oil KME
[10:22:15] <Tigerman__> because maybe I call Dome what is a ladder in TT
[10:22:48] <Tigerman__> I ask this because I was mad in DAX today too fast price action
[10:23:25] <Tigerman__> so I wonder if exist some smart way to djust price in fast conditions
[10:23:38] <wrbtrader> I don't know\
[10:23:41] <Tigerman__> smart ideas I m not aware maybe
[10:23:50] <wrbtrader> Not sure whats a "fast price action"
[10:23:50] <Corner> You can do it on the chart in IB
[10:24:15] <Corner> Works fine for me on 5min/5sec monitor chart
[10:24:37] <wrbtrader> I do not almost ALL software have multiple different ways to enter/exit a trade and the same for stop placements
[10:25:09] <wrbtrader> DOME, Charts, Buy/Sell button, Price Ladder and so on
[10:25:25] <Corner> wrb - Would you say X_Trader is worth the money?
[10:25:31] <Tigerman__> fast action when price moves fast jump out of the price matrix
[10:26:01] <wrbtrader> Customer service...yes
[10:26:10] <Tigerman__> I want adjust my trail x example and I NOT have that level nymore in front of my eyes
[10:26:27] <wrbtrader> Tigerman knows cost of the program isn't the issue for me...
[10:26:48] <wrbtrader> The issue for me is customer service and how fast I can get access to my money
[10:27:18] <Corner> I see.
[10:27:46] <Tigerman__> my question now is : wtbtrader assume you want move your stop 2071.25 in ES right now
[10:28:26] <Tigerman__> and want put it at 2071.25
[10:28:34] <Tigerman__> so some ticks above it
[10:28:41] <Tigerman__> it is an example
[10:29:14] <Tigerman__> do you move your mouse across a price ladder (matrix) or digit the number directly or what ?
[10:29:27] <wrbtrader> I can do either and so can you
[10:29:32] <wrbtrader> I know IB...
[10:29:34] <Tigerman__> oops sorry I mean 20171.75
[10:29:50] <wrbtrader> They have different ways to put in a stop and move it
[10:30:01] <wrbtrader> I also know TradeStation...same with them too
[10:30:26] <wrbtrader> Why don't you try all their stop features and determine which one is BEST FOR YOU ?
[10:30:34] <Tigerman__> yes I can do it either just wonder what feel better x you from your experience
[10:30:44] <wrbtrader> I can't answer that for you
[10:31:09] <wrbtrader> Just like a prior conversation about why I use this broker and not that broker
[10:31:15] <wrbtrader> I have different needs than you
[10:31:46] <wrbtrader> You have to try different things in your broker platform to find out what works BEST FOR YOU
[10:33:15] <wrbtrader> IB has more than just DOME...why not just try their other stop placement features instead of asking others
[10:33:35] <Corner> Tiger - A good way to start is Bracket Trader to place the bracket and use it or the mouse on the chart to move the orders
[10:33:43] <wrbtrader> Shorts Emini ES @ 2066.25 -> large size
[10:35:41] <wrbtrader> I think this conversation really gets to one thing...he's looking for automation for stop adjustments instead of manually doing such because when he has to manually adjust...he's not fast enough or doesn't anticipate a fast moving price action to be able to adjust his stops
[10:36:58] <wrbtrader> Covered all Emini ES Short @ 2068.50 --> - 2.25
[10:37:23] <wrbtrader> that price action still didn't shake up the volatility...
[10:37:42] <wrbtrader> I did a breakout of the S area without a volatilit spike
[10:38:53] <wrbtrader> I had a stop adjustment problem like what he's describing (I think) is during "volatility spikes".
[10:39:17] <wrbtrader> Yet, Tiger used the phrase "fast markets" which is something I'm clueless about his definition.
[10:39:37] <wrbtrader> Doesn't seem like its about volatility spikes/surges
[10:40:14] <wrbtrader> I think he's talking about the Opens of the regular sessions when orders are being filled fast ???
[10:41:14] <wrbtrader> That's why I use -4 points...
[10:41:30] <wrbtrader> If I can react "fast enough" before a -4 point stop is hit...
[10:41:42] <wrbtrader> Its a market I should not be trading
[10:42:10] <Tigerman__> [[16:41] <wrbtrader> Its a market I should not be trading yeah thats the point
[10:42:37] <Tigerman__> what annoy me is the fast IB auto centering is too slow
[10:42:56] <Tigerman__> not sure whay
[10:43:23] <Tigerman__> in contrast tradestation sit better at centre of the screen
[10:43:25] <wrbtrader> Why not just use a "tight stop" on auto upon entry
[10:43:42] <wrbtrader> You can then manually adjust that tight stop as the trade progresses
[10:43:43] <Tigerman__> yeas I use it
[10:44:02] <wrbtrader> That way if it moves "too fast" for you...your tight stop saves your butt
[10:44:12] <Tigerman__> the issue is BIG on DAX these days
[10:44:23] <Corner> Tiger - Try BT - You can have a DOM with 50 lines or so. Should be enough, even for DAX
[10:44:24] <wrbtrader> If it moves slow...you have time to adjust your tight stop
[10:46:08] <wrbtrader> Yesterday after the mid day session I noticed abnormal number of sudden WRB Hidden GAPs on low volatility as breakouts of contracting volatility
[10:46:25] <wrbtrader> I usually only just say "spike out of nowhere"
[10:46:38] <wrbtrader> That's what the recent one just did today
[10:47:26] <wrbtrader> Its a tight trading range but when it spikes...its just enough to get outside the contraction and then it makes a new contraction...
[10:47:42] <wrbtrader> I just re-enter the original trade again if stopped out
[10:47:57] <wrbtrader> That adaption has worked well for about a week now
[10:48:31] <wrbtrader> Shorts Emini ES @ 2067.50 -> large size
[10:48:57] <wrbtrader> re-entry
[10:49:09] <wrbtrader> same direction as the recent contraction volatility breakout
[10:49:25] <Corner> Tiger - If you want better overview in BookTrader, use more rows like 80, and smaller font size like 8
[10:49:45] <wrbtrader> price action barely below the S area of the most recent contracting volatility
[10:50:02] <wrbtrader> That same strange price action I mentioned yesterday and again today
[10:51:08] <wrbtrader> still no volatility spike
[10:51:34] <wrbtrader> That makes those possible snapbacks more likely :(
[10:52:05] <Corner> I don't like the long lower tails on ES-Mini 5 minutes
[10:52:53] <Tigerman__> simply the point is IB book trader has auto-centering
[10:53:12] <wrbtrader> Geesh Tiger...
[10:53:22] <wrbtrader> This is about the auto centering :(
[10:53:24] <Tigerman__> when on and set for 4 row x example lose time like 5sec to centering
[10:54:31] <wrbtrader> Covered all Emini ES Short @ 2066.25 --> + 1.25
[10:54:34] <Tigerman__> set to 100 row price goes out of windows :(
[10:55:05] <Tigerman__> in contrast tradestation seems centered most of the time
[10:55:46] <wrbtrader> again the price action moving back towards the prior S area of the recent contraction...resetting up for NEW contraction volatility
[10:56:00] <Tigerman__> [16:53] <wrbtrader> This is about the auto centering :( in reality topic is 2 issue one how others people moves their stop .. then the auto-centering issue
[10:56:28] <wrbtrader> If this is about that...just try something automated...
[10:56:34] <wrbtrader> Try Brackt Trader
[10:57:11] <wrbtrader> price moves a certain price...your stops (trails) get auto adjusted for you
[10:57:45] <Tigerman__> yep I ll try it
[10:57:50] <Tigerman__> thanks
[10:58:18] <Tigerman__> another issue I have is this one :
[10:58:53] <Tigerman__> I can set a limit order entry plus stop and target
[10:59:41] <wrbtrader> I think all platforms have something called "auto centering"
[11:00:00] <Tigerman__> for example want buy at 2066 ES with a stop loss at 2065 and a profit target at 2068
[11:00:02] <wrbtrader> In mine...its just referred to as "Global Recenter"
[11:01:26] <Tigerman__> if price touch my entry limit at 2066 , it is ok I got a long there and auto exit at stop or profit
[11:02:23] <wrbtrader> Just experiment with 1 contract on a simulator with that stuff (Bracket Trader) until you determine if its something you want to use.
[11:02:35] <Tigerman__> but if price reach the profit level at 2068 without reach 2066... then that 2068 became a sell order :(
[11:03:13] <Tigerman__> I mean price moves up and I was never able to get my 2066 entry
[11:03:19] <Tigerman__> pretending example
[11:03:23] <Corner> Tiger - BT does exactly this correctly. I places the 2 orders, when the first order is filled
[11:03:28] <wrbtrader> I tried it a few times...didn't like like it...I was always too fast and exiting positions before the automation kicked in
[11:03:44] <wrbtrader> Just try it...you're not getting anywhere via keep talking abouot it
[11:03:58] <wrbtrader> Seriously, you could have been using it by now today
[11:04:34] <Tigerman__> I use it right now..
[11:05:31] <Tigerman__> but the issue is if I not got the planned long entry the profit becames a sell order
[11:05:35] <Tigerman__> a short entry
[11:05:53] <Tigerman__> I ll investigate if Braket trader overcome this
[11:06:34] <Tigerman__> tomorrow I ll try tradestation on fast DAX moves
[11:06:59] <Tigerman__> I want tsee how behave with his fast spike
[11:07:25] <Tigerman__> in firt morning hours DAX moves with 20-30 ticks spike !!!!!
[11:07:51] <Tigerman__> maybe it is too fast for retail day trading
[11:08:58] <mtntrader__> I've found that sometimes you just need to stay out of those markets when they are spiking heavily. The big boys are just pushing too much money around and us small traders can get run over.
[11:09:56] <wrbtrader> Tigerman...when did you start noticing these "fast markets"
[11:10:08] <wrbtrader> ???
[11:11:03] <Tigerman__> this year
[11:11:19] <Tigerman__> DAX was always fast
[11:11:21] <wrbtrader> You've put up with this for 6 months ?
[11:11:32] <wrbtrader> You have incredible patience
[11:11:43] <Tigerman__> yep
[11:11:57] <wrbtrader> I would have stopped in one week with my patience level (poor)
[11:12:05] <Tigerman__> simply tried various way to fix this
[11:12:15] <wrbtrader> and used some other stop placement software
[11:12:40] <Tigerman__> also spread is 2-3 ticks in Dax these days
[11:12:55] <wrbtrader> That's something I'm very intolerant...
[11:13:02] <Tigerman__> simply dax needs large stop x my taste
[11:13:15] <wrbtrader> If the software is preventing me from trading the way I want to trade...its history
[11:13:21] <wrbtrader> It won't last another day
[11:13:33] <Tigerman__> this morning at 11am EU after some news about crisis...
[11:13:57] <Tigerman__> dax sky rocket
[11:14:07] <Tigerman__> big spike
[11:14:16] <wrbtrader> Tiger...Greece situation is unusual
[11:14:31] <Tigerman__> platform apart it moves fast and with big swing
[11:14:31] <wrbtrader> It would be weired NOT to see strange price action :)
[11:15:06] <Corner> But the good thing is, it was already in an up trend at 11am :-)
[11:16:32] <Corner> Some knew earlier...
[11:16:50] <Corner> 3 WRB up in the 5 minute before!
[11:17:08] <Tigerman__> dax nature is violent spike nowhere to entry
[11:17:36] <wrbtrader> Its simple...
[11:17:49] <wrbtrader> Stay away from markets you feel is "too fast" for you
[11:17:52] <Tigerman__> then can contract with big candle or retrace fast down
[11:18:05] <TradeSnake______> Short GC @ 1169.9
[11:18:13] <Tigerman__> it is more then faster...
[11:18:33] <Tigerman__> faster is first issue
[11:18:49] <wrbtrader> That's the only issue you need to know
[11:18:58] <wrbtrader> If its too fast...find something else to trade
[11:19:14] <Tigerman__> second one is how it moves
[11:19:43] <Tigerman__> up/down tail shake you out most of the time
[11:20:15] <Corner> If you get shaken out most of the time, your stop is too narrow
[11:22:47] <wrbtrader> Download it (Bracket Trader)...set it up.
[11:22:50] <wrbtrader> 5 minutes max\
[11:23:16] <Tigerman__> the issue is contracting vola is large in Dax :)
[11:23:18] <wrbtrader> Then play around with the features until you find something you like.
[11:23:25] <wrbtrader> 2 days max
[11:23:26] <Tigerman__> ok thanks
[11:23:27] <Corner> It even has simulation mode.
[11:24:41] <Tigerman__> back to Dax what I mean here is usually the contracting is similar to the expanding candles
[11:25:02] <Tigerman__> and many long shadows
[11:25:17] <Tigerman__> I can use a large stop but is no sense
[11:26:00] <Corner> Long shadows give you good information about failed breakouts.
[11:26:04] <Tigerman__> I mean 60 point stop to catch sometimes 20 point target
[11:27:37] <Corner> Tigerman - NEVER consider a trade with a smaller target than stop. You cannot survive this over time.
[11:28:55] <Tigerman__> yeah but the isuue is this one
[11:29:33] <Tigerman__> I mean logic placement are difficult to find becxause the big tails
[11:30:15] <Tigerman__> I know it is difficult to explain you have to prove it
[11:35:34] <Tigerman__> anyway this month I ll do a complete documentation about this issue
[11:35:52] <Tigerman__> in realation Dax vs ES and so on
[11:36:27] <Tigerman__> after that I ll share my consideration here
[11:38:18] <Tigerman__> simply real time vs hindsight trading can give some clues
[11:43:07] <wrbtrader> Shorts Emini ES @ 2067.00 -> large size
[11:44:03] <wrbtrader> another WRB HG below the S area but this one is different...moving very very slowly
[11:44:44] <wrbtrader> I'll be pssst if a sudden volatility spike shows up and takes me out for a loss after all of that contraction
[11:45:48] <wrbtrader> creeping lower...it may even put in a WRB HG downwards without a volatility spike
[11:46:03] <wrbtrader> Its done that twice already today
[11:49:27] <wrbtrader> Covered all Emini ES Short @ 2067.50 --> - 0.5
[11:50:07] <wrbtrader> back to the prior S area of the contraction
[11:51:43] <wrbtrader> All of the S areas that developed today for the contraction volatility...
[11:52:06] <wrbtrader> They are all less than 2.50 from each other's location
[11:52:13] <wrbtrader> That's tight...very tight
[11:52:55] <Tigerman__> take care all see next time
[11:53:10] <Corner> I hope with BT :-)
[11:53:26] <Corner> Take care
[11:53:39] <wrbtrader> Shorts Emini ES @ 2067.50 -> large size
[11:53:56] <wrbtrader> re-entry
[12:00:06] <wrbtrader> volatility increasing
[12:00:22] <wrbtrader> I think that's the first time I've said that today
[12:01:53] <wrbtrader> now stalling :(
[12:03:18] <wrbtrader> Can someone please go on twitter and start a RUMOR that the banks in Greece are now open for business :)
[12:03:28] <wrbtrader> That should shake the market up a little
[12:03:38] <mtntrader__> Ha!
[12:05:56] <wrbtrader> Covered all Emini ES Short @ 2066.75 --> + 0.75
[12:07:26] <wrbtrader> Ok...I just posted a rumor on twitter..."Greece plans to use their bailout to build state of the art police stations and riot gear equipment".
[12:07:52] <wrbtrader> :)
[12:08:19] <mtntrader__> Ok, tell me when to go long!
[12:08:43] <wrbtrader> Shorts Emini ES @ 2066.50 -> large size
[12:08:52] <wrbtrader> re-entry
[12:13:21] <wrbtrader> deceptive :(
[12:15:33] <wrbtrader> Covered all Emini ES Short @ 2066.50 --> 0
[12:15:40] <wrbtrader> lost my patience
[12:19:53] <wrbtrader> Shorts Emini ES @ 2086.75 -> large size
[12:20:28] <wrbtrader> re-entry
[12:22:12] <wrbtrader> correction...
[12:22:37] <wrbtrader> Shorts Emini ES @ 2065.75 -> large size
[12:24:02] <wrbtrader> knock on wood...
[12:24:09] <wrbtrader> volatility increasing again
[12:25:52] <wrbtrader> Covered all Emini ES Short @ 2065.00 --> + 0.75
[12:26:06] <wrbtrader> geeesh :(
[12:30:36] <wrbtrader> Shorts Emini ES @ 2066.00 -> large size
[12:30:52] <wrbtrader> 20 contracts...upping my position size
[12:31:11] <wrbtrader> re-entry
[12:38:35] <wrbtrader> :(
[12:41:22] <wrbtrader> Covered 1/2 Emini ES Short @ 2065.50 --> + 0.5
[12:43:26] <wrbtrader> now it tries to push down after I dumped 1/2
[12:43:39] <wrbtrader> its one of those days
[12:45:31] <wrbtrader> Covered Remainder Emini ES Short @ 2063.00 --> + 3
[12:47:30] <wrbtrader> Yet the WRB pt1 reached on the 1/2 did clean up a messy trading day for me
[12:48:49] <mtntrader__> Yes, I try to limit my questions and comments in the room when price is moving and trades are available.
[12:54:50] <wrbtrader> I hope this doesn't turn into one of those SLOW gap fill days
[12:58:23] <mtntrader__> I use the pit session gap number which is 2052.75. Another 10 points down wouldn't hurt my feelings.
[12:59:21] <mtntrader__> TF is definitely leading the charge lower.
[12:59:27] <TradeSnake______> Covered GC @ 1171.8 --> -1.9
[12:59:46] <wrbtrader> Shorts Emini ES @ 2062.00 -> large size
[13:00:09] <wrbtrader> re-entry
[13:00:34] <wrbtrader> 20 contracts again...playing the size game right now
[13:01:41] <wrbtrader> back to back position size trades...didn't get the result I wanted in the prior trade because of the shake out in 1/2
[13:02:22] <wrbtrader> contraction is so tight...WRB pt1 are small
[13:03:27] <wrbtrader> Covered 1/2 Emini ES Short @ 2061.00 --> + 1
[13:03:41] <wrbtrader> WRB pt1 reached (shallow = small)
[13:05:04] <wrbtrader> Covered all Emini ES Short @ 2061.75 --> + 0.25
[13:06:07] <wrbtrader> Lots of consecutive Short positions beginning in the 2067 area
[13:06:34] <wrbtrader> I haven't caught a runner but I do have the price direction correct
[13:07:15] <Corner> What helped you figure out the right direction?
[13:07:26] <Corner> You seemed to be quite sure...
[13:08:03] <Corner> I expected the same direction, but wasn't half as sure as you...
[13:09:08] <Corner> There ware lots of long lower tails...
[13:09:12] <Corner> were
[13:20:26] <mtntrader__> Long ES 2063.00
[13:24:19] <mtntrader__> Covered half at 2065.50, +2.5
[13:26:44] <wrbtrader> [13:07:15] <Corner> What helped you figure out the right direction?
[13:28:09] <wrbtrader> Index are in a downtrend for today
[13:29:05] <wrbtrader> meant during the span of those consecutive Short positions
[13:30:02] <wrbtrader> Prior to that...range bound price action...
[13:30:11] <wrbtrader> I was getting losers on Longs and Shorts
[13:30:26] <wrbtrader> extremely low volatility
[13:31:01] <Corner> So you draw an upper trend line and as long it's not broken it's short?
[13:32:25] <Corner> You sometimes sold with limit orders at the top of the range...
[13:40:14] <wrbtrader> I don't draw any lines to tell me its a trend or strong continuation price action
[13:41:17] <Corner> Mhhh. I know. Meant virtually. So what would make you think that the downtrend is over?
[13:41:33] <Corner> Only intuition?
[13:41:39] <wrbtrader> I have one simple rule to know a downtrend is complete...
[13:41:46] <wrbtrader> When I see an Uptrend :)
[13:42:08] <Corner> Ah. Now I know the secret to trading :-)
[13:42:36] <wrbtrader> My kid once asked how do you know when your stomach is full...
[13:42:43] <wrbtrader> I said...when you can't eat anymore
[13:42:45] <wrbtrader> :)
[13:43:10] <Corner> Mhhh. Doesn't fit.
[13:43:39] <Corner> I know my stomach, but I don't know the direction of the trend at any time...
[13:43:54] <wrbtrader> What I'm trying to say is that its "too difficult" to try to time the moment a trend is completed
[13:44:26] <wrbtrader> Much easier to wait until a new trend shows up in the opposite direction to conclude the prior trend has completed
[13:45:05] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[13:45:05] -ChanServ- [##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
[13:45:05] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[13:45:52] <wrbtrader_away> I strongly believe we as traders spent too much time trying to get in EARLY on a new trend or trying to find the perfect moment of a TREND REVERSAL to trade a trend
[13:47:04] <Corner> So the best strategy is stay with the trend until profen otherwise?
[13:47:07] <wrbtrader_away> Much easier to trade a trend when you get confirmation its a trend
[13:47:39] <wrbtrader_away> Yet...stay with the trend until a new trend is confirmed in the opposite direction
[13:47:54] <wrbtrader_away> Yeah, you can take high risk trades sometimes AGAINST the trend...
[13:48:27] <wrbtrader_away> Only do such if you're already reached your profit goals for the day and you keep tight stops and you lower your position size...
[13:49:21] <wrbtrader_away> That way if your wrong at trend reversal trading (e.g. going Long at the bottom of the downtrend)...
[13:49:29] <wrbtrader_away> You can still close the day at a profit
[13:49:42] * wrbtrader_away is now known as wrbtrader
[13:49:57] <Corner> Ok, I see...
[13:50:06] <Corner> I'll try to work with that.
[13:50:09] <wrbtrader> Some call it counter-trend trading
[13:50:41] <Corner> Do you use concepts like exhaustion?
[13:51:03] <wrbtrader> Maybe...depending upon the definitions of such :)
[13:51:25] <wrbtrader> For example, a swing point is a exhaustion price action
[13:52:30] <Corner> I see. I also meant a kind of an acceleration with the longest WRB-Bars near the end of the move...
[13:53:25] <Corner> If you look at CL right now...
[13:54:15] <Corner> Longest down bar 5 minutes of the last 30 bars
[14:00:18] <mtntrader__> Out balance 2064.50, +1.5
[15:47:37] <TradeSnake______> Long YM @ 17641
[15:54:01] <wrbtrader> Long Emini ES @ 2068.00 -> large size
[15:54:13] <wrbtrader> 10 contracts
[15:54:19] <mtntrader__> LOng TF 1250.3
[15:55:00] <TradeSnake______> Covered YM @ 17660 --> +19
[15:57:18] <mtntrader__> Covered all 1252.6, +2.3
[15:57:30] <wrbtrader> I have not forgotten about yesterday's sudden price movement out of nowhere into the 4pm est rush hour traffic that tank the price southward...
[15:57:37] <wrbtrader> trailing @ profit
[15:59:47] <wrbtrader> Exited all Emini ES Long @ 2068.50 --> + 0.5
[16:00:12] <wrbtrader> Long Emini ES @ 2069.25 -> large size
[16:00:21] <wrbtrader> re-entry
[16:00:36] <wrbtrader> I got pick pocketed
[16:03:25] <wrbtrader> Exited all Emini ES Long @ 2069.75 --> + 0.5
[16:03:48] <wrbtrader> didn't get what I wanted an both trades...a WRB pt1
[16:03:56] <wrbtrader> Take care all and see all tomorrow
[16:12:49] * Disconnected
Session Close: Wed Jul 01 16:12:49 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:

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, Usd/Cad, Xau/Usd and Xag/Usd

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)
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