Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room:
http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.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, 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:
080415-Key-Price-Action-Markets.png [ 1.06 MiB | Viewed 319 times ]
click on the above image to view today's price action of key markets Session Start: Tue Aug 04 08:54:37 2015
Session Ident: ##TheStrategyLab
[08:54:37] * Now talking in ##TheStrategyLab
[08:54:37] * 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'[08:54:37] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[08:54:38] ##TheStrategyLab url is
http://www.thestrategylab.com/tsl/forum/ and if you need to understand (additional info) about the trades posted below by
wrbtrader...please read my
daily trading routine @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=146&t=2136[09:20:38] <AndresFX> LONG NQ
[09:20:42] <AndresFX> Stop 66
[09:31:13] <AndresFX> OPEN IT
[09:35:48] <wrbtrader> Long Emini ES @ 2093.00 -> large size
[09:36:09] <wrbtrader> 10+5 contracts
[09:36:45] <wrbtrader> Exited all Emini ES Long @ 2092.50 --> - 0.5
[09:37:49] <wrbtrader> Long Emini ES @ 2091.25 -> large size
[09:37:55] <wrbtrader> re-entry
[09:38:34] <wrbtrader> Exited all Emini ES Long @ 2090.50 --> - 0.75
[09:40:12] <Tigerman___>
![good morning gm](./images/smilies/emoticonhello.gif)
all
[09:40:17] <Tigerman___> Kme at 10 am
[09:44:34] <wrbtrader> Long Emini ES @ 2090.25 -> large size
[09:44:42] <wrbtrader> re-entry
[09:46:44] <wrbtrader> Exited 2/3 Emini ES Long @ 2092.50 --> + 2.25
[09:47:19] <wrbtrader> Exited Remainder Emini ES Long @ 2092.00 --> + 1.75
[09:50:42] <AndresFX> eMINIS in SYNC
[09:55:39] <Tigerman___> VIX near yesterday low
![sad :(](./images/smilies/icon_chatsad.gif)
[10:02:47] <lightenup> Short tf 1233.00
[10:05:01] <lightenup> Flat tf 1232.90 +.1
[10:08:45] <AndresFX> SHORT ES 93.50
[10:09:03] <AndresFX> STOP 9450
[10:10:49] <AndresFX> BE NOW
[10:13:16] <AndresFX> OUT BE
[10:13:59] <jpan> 70.5l nq
[10:15:17] <jpan> 66.25 out
[10:25:37] <wrbtrader> Long Emini ES @ 2093.75 -> large size
[10:25:47] <wrbtrader> intuition trade
[10:26:21] * ChanServ sets mode: +o wrbtrader
[10:26:34] <@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.
[10:27:05] <lightenup> Long tf 1233.50
[10:29:24] <@wrbtrader> Exited all Emini ES Long @ 2095.25 --> + 1.5
[10:29:38] <@wrbtrader> WRB pt1 reached
[10:29:43] <jpan> 72.25l
[10:30:01] <lightenup> Flat TF 1233.7 +.2
[10:30:11] <@wrbtrader> will now lower my postion size from 15 down to 5
[10:33:11] <jpan> 70 out
[10:34:41] <jpan> 70l
[10:36:27] <jpan> 70 out be
[10:36:42] <jpan> too choppy
[10:41:38] <jpan> nonsensical PA, going back to zzz =P
[10:46:01] <AndresFX> was a fake break
[10:46:08] <AndresFX> and inside the range
[10:53:23] <lightenup> Short tf 1233.10
[10:55:58] <lightenup> Flat TF 1232.90 +.2
[10:57:49] <@wrbtrader> Shorts Emini ES @ 2089.00 -> small size
[10:57:57] <@wrbtrader> 5 contracts
[11:02:04] <@wrbtrader> Covered all Emini ES Short @ 2088.75 --> + 0.25
[11:02:29] <@wrbtrader> WRB pt1 reached but I held it to see if I can get a WRB pt2...it never reached that
![sad :(](./images/smilies/icon_chatsad.gif)
[11:02:59] <AndresFX> Vol entered to the market
[11:03:01] <AndresFX> kind of stoping
[11:05:22] <@wrbtrader> Long Emini ES @ 2089.75 -> small size
[11:05:34] <@wrbtrader> 5 contracts
[11:06:49] <@wrbtrader> looking for a Houdini Escape
[11:07:03] <@wrbtrader> Exited all Emini ES Long @ 2090.50 --> + 0.75
[11:08:50] <@wrbtrader> Long Emini ES @ 2090.25 -> small size
[11:08:55] <@wrbtrader> re-entry
[11:10:13] <@wrbtrader> Exited all Emini ES Long @ 2089.25 --> - 1
[11:10:33] <@wrbtrader> snapback
[11:12:00] <@wrbtrader> Long Emini ES @ 2090.75 -> small size
[11:12:22] <@wrbtrader> a little chop the past 5 minutes
[11:13:26] <AndresFX> Yes
[11:13:33] <AndresFX> kind a test now
[11:15:25] <@wrbtrader> WRB Analysis -> - Chat room for day traders, swing traders, position traders using concepts from WRB Analysis such as contracting volatility, key market event (KME), reaction high/low, WRB, WRB Hidden GAP, WRB Zone, WRB pt levels to help improve understanding of the price action their trading and/or improve the performance of their trade signal strategies while price action trading. WRB Analysis free study guide @
http://www.thestrategylab.com/tsl/forum ... =119&t=718 or
http://www.scribd.com/wrbtrader [11:16:15] <@wrbtrader> snapback again
[11:16:29] <AndresFXX> cHOPSuey
[11:16:35] <AndresFXX> and macarroni
[11:19:32] <@wrbtrader> Exited all Emini ES Long @ 2090.50 --> - 0.25
[11:29:23] <AndresFXX> 59 pending buy for NQ
[11:30:05] <AndresFXX> long nq
[11:30:10] <AndresFXX> stop 56
[11:33:59] <AndresFXX> exit
[11:34:20] <@wrbtrader> Long Emini ES @ 2090.75 -> small size
[11:34:33] <@wrbtrader> re-entry
[11:34:57] <@wrbtrader> snapback again
[11:35:02] <AndresFXX> We are in consolidation last 30 minutes
[11:35:07] <AndresFXX> will wait the break and try enter
[11:35:22] <@wrbtrader> something odd about that 2090.75 price area
[11:35:42] <AndresFXX> yes litte ressistence
[11:35:44] <AndresFXX> testing
[11:35:46] <@wrbtrader> Almost associated with Emini TF futures
[11:35:46] <AndresFXX> over and over
[11:35:49] <AndresFXX> 5 bar
[11:36:04] <AndresFXX> all e minis are in sync in the range
[11:36:08] <AndresFXX> last bars
[11:36:19] <@wrbtrader> Its stuck inside the range of a Down WRB Hidden GAP interval 1min chart via RUT
[11:37:25] <AndresFXX> yes
[11:37:34] <AndresFXX> something is cooking
[11:38:29] <@wrbtrader> Exited all Emini ES Long @ 2090.25 --> - 0.5
[11:39:08] <@wrbtrader> RUT just went below the S area of the mention Down WRB Hidden GAP interval
[11:40:28] <AndresFXX> trying to break it
[11:42:27] <AndresFXX> Still inside
[11:42:36] <AndresFXX> but making hh and lh
[11:47:56] <AndresFXX> Low volume
[11:48:09] <AndresFXX> low range
[11:48:14] <AndresFXX> cooking something good
[11:48:51] <@wrbtrader> Shorts Emini ES @ 2090.25 -> large size
[11:49:02] <@wrbtrader> 5+5 contracts
[11:52:22] <@wrbtrader>
![sad :(](./images/smilies/icon_chatsad.gif)
[11:52:51] <@wrbtrader> Emini TF futures looking like it was the better price action to Short
[11:53:11] <@wrbtrader> ES just keeps
![Boxing fighting](./images/smilies/emoticonboxing.gif)
[11:53:30] <AndresFXX> Perry in the time what i have trading e minis
[11:53:40] <AndresFXX> i allways see ES is allways
![Boxing fighting](./images/smilies/emoticonboxing.gif)
more than tf
[11:54:08] <AndresFXX> most of time.
[11:57:53] <@wrbtrader> Covered all Emini ES Short @ 2089.75 --> + 0.5
[11:58:01] <@wrbtrader>
![sad :(](./images/smilies/icon_chatsad.gif)
[12:07:49] <Tigerman___> low vola not easy to trade this stuff
[12:08:09] <Tigerman___> not enought momentum
[12:08:28] <AndresFXX> nope
[12:08:36] <AndresFXX> Just fake break
[12:08:38] <Tigerman___> simply usually I end day at loss in this mud
[12:09:05] <Tigerman___> needs patience wait just few goood trades
[12:09:27] <AndresFXX> yes
[12:09:33] <Tigerman___> simply summertime
[12:09:59] <Tigerman___> plus economic issue in Europe and worldwide
[12:10:09] <AndresFXX> Just need wait
[12:10:12] <AndresFXX> for clear
[12:10:13] <AndresFXX> picture
[12:10:18] <AndresFXX> its cheaper
[12:10:21] <AndresFXX> than enter and loss
[12:10:36] <Tigerman___> issue is people have a life
[12:10:36] <@wrbtrader> Long Emini ES @ 2092.50 -> large size
[12:11:11] <@wrbtrader> 10 contracts
[12:11:44] <Tigerman___> so not always possible stay all the day glued at screen to recup previous loss
[12:12:01] <AndresFXX> Yes
[12:12:27] <Tigerman___> simply outcome of a trade is after the entry not before
![sad :(](./images/smilies/icon_chatsad.gif)
[12:12:36] <AndresFXX> hihi
[12:12:39] <AndresFXX> Patience.
[12:13:05] <@wrbtrader> Overall still a slow trading day
[12:13:13] <Tigerman___> Andres... the issue is .... in low vola every trade is very risky
[12:13:33] <@wrbtrader> even stuff on Bloomberg is boring today
[12:14:12] <Tigerman___> people enjoy last summer month before kids back to school
[12:14:13] <AndresFXX> Something is cooking
[12:14:24] <AndresFXX> yesterday
[12:14:29] <AndresFXX> was a very good trend day
[12:15:16] <Tigerman___> I exit now
[12:15:21] <@wrbtrader> The Oil Crash Has Caused a $1.3 Trillion Wipeout (Bloomberg) @
http://www.bloomberg.com/news/articles/ ... on-wipeout[12:15:22] <Tigerman___> take care see all next time
[12:15:47] <AndresFXX> and some one
[12:15:52] <AndresFXX> have 1.3 trillion
[12:15:56] <AndresFXX> in bag
[12:16:00] <AndresFXX> haha
[12:16:31] <Tigerman___> yeah but we never know if that is a real profit
![smile :)](./images/smilies/icon_chatsmile.gif)
[12:16:50] <@wrbtrader> Greece Sees Bailout Deal in Time to Meet $3.5 Billion Due to ECB (Bloomberg) @
http://www.bloomberg.com/news/articles/ ... due-to-ecb[12:17:35] <@wrbtrader> retesting the R area of the most recent Up WRB Hidden GAP interval
[12:17:57] <AndresFXX> yes
[12:18:08] <AndresFXX> all eminis are in sync
[12:18:29] <Tigerman___> ok need go now take care
![smile :)](./images/smilies/icon_chatsmile.gif)
[12:20:33] <@wrbtrader> still near that S area
[12:20:43] <@wrbtrader> meant R area
[12:21:26] <@wrbtrader> Also, back inside a prior difficult range area
[12:22:43] <@wrbtrader>
![sad :(](./images/smilies/icon_chatsad.gif)
[12:23:34] <AndresFXX> true and sad
[12:24:49] <@wrbtrader> now testing the S area of that most recent Up WRB Hidden GAP interval
[12:27:23] <AndresFXX> Yes
[12:28:02] <@wrbtrader> Exited all Emini ES Long @ 2090.50 --> - 2
[12:28:52] <@wrbtrader> Shorts Emini ES @ 2090.25 -> large size
[12:29:38] <@wrbtrader> I remember this price area via a recent prior Short
[12:29:54] <AndresFXX> Is the middle
[12:29:57] <AndresFXX> of this bar
[12:30:15] <@wrbtrader> It stalled and took me out for only a 2 tick profit
[12:30:34] <AndresFXX> Enojy now
[12:30:48] <@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.
[12:31:06] <@wrbtrader> volatility slowly increasing
[12:34:48] <@wrbtrader> Covered all Emini ES Short @ 2089.75 --> + 0.5
[12:35:09] <@wrbtrader> same result as the last time I Shorted in this area
![sad :(](./images/smilies/icon_chatsad.gif)
[12:36:25] <@wrbtrader> Hopefully this price action will just hang aroound here in this area and then attempt to push lower on increasing volatility
[12:37:04] <@wrbtrader> If it decides to go up...I'll just go to the sidelines and watch until it gets back above its most recent swing high
[12:40:11] <AndresFXX> OIL, GOLD, E minis range
[12:40:15] <AndresFXX> still in range
[12:43:04] <@wrbtrader> Shorts Emini ES @ 2089.25 -> large size
[12:43:16] <@wrbtrader> re-entry
[12:43:32] <@wrbtrader> volatility increasing again
[12:44:29] <@wrbtrader> Emini ES trying to retest the swing low of 1100am est
[12:47:18] <@wrbtrader> WRB pt1 reached but Emini ES having a problem with being insync on this volatility movement right now
[12:54:45] <@wrbtrader> Covered all Emini ES Short @ 2087.25 --> + 2
[12:54:50] <@wrbtrader> WRB pt2 reached
[13:00:27] <@wrbtrader> Shorts Emini ES @ 2087.00 -> small size
[13:01:14] <@wrbtrader> Eminis pushing again downward below another recent Down WRB Hidden GAP interval
[13:03:20] <@wrbtrader> Covered all Emini ES Short @ 2087.00 --> 0
[13:04:05] <@wrbtrader> WRB Analysis -> - Chat room for day traders, swing traders, position traders using concepts from WRB Analysis such as contracting volatility, key market event (KME), reaction high/low, WRB, WRB Hidden GAP, WRB Zone, WRB pt levels to help improve understanding of the price action their trading and/or improve the performance of their trade signal strategies while price action trading. WRB Analysis free study guide @
http://www.thestrategylab.com/tsl/forum ... =119&t=718 or
http://www.scribd.com/wrbtrader [13:04:10] <@wrbtrader> early exit
[13:04:15] <@wrbtrader> I need a break
[13:04:28] <@wrbtrader> and need some visine
[13:07:24] <AndresFXX> Take care
[13:20:35] <lightenup> TF now testing support of 12:42 Down WRBHG
[13:26:00] <AndresFX> ye
[13:29:50] <AndresFX> LONG TF
[13:34:51] <AndresFX> EXIT +1
[13:37:09] <AndresFX> REENTRY
[13:37:11] <AndresFX> LONG TF
[13:53:21] <@wrbtrader> Shorts Emini ES @ 2085.75 -> small size
[13:54:03] <@wrbtrader> A lot of volatility showed up
[13:54:17] <@wrbtrader> The most volatility so far today
[13:54:26] <AndresFX> WAITING FOR THIS
[13:54:27] <AndresFX> ALL DAY
[13:57:32] <@wrbtrader> snapback after retesting 2085.75
[13:58:29] <@wrbtrader> Covered all Emini ES Short @ 2084.75 --> + 1
[13:58:58] <@wrbtrader> WRB pt1 reached @ 2084.25 but I was not able to grab it
[14:04:56] <@wrbtrader> Shorts Emini ES @ 2085.25 -> small size
[14:05:04] <@wrbtrader> 5 contracts
[14:06:29] <@wrbtrader> Covered all Emini ES Short @ 2084.75 --> + 0.5
[14:07:17] <@wrbtrader> That was a trade error and I was lucky to escape with a profit although I feel there's more downside
[14:08:04] <@wrbtrader> As soon as I said that...volatility showed up again
[14:08:06] <@wrbtrader>
![smile :)](./images/smilies/icon_chatsmile.gif)
[14:20:14] <@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.
[14:24:05] <@wrbtrader> got a Short signal...just waiting for a good price to get in
[14:24:50] <@wrbtrader> Shorts Emini TF @ 1223.90 -> small size
[14:25:00] <@wrbtrader> 1+1 contracts
[14:25:37] <@wrbtrader> If it drops...it'll be a shallow WRB pt1
[14:27:06] <@wrbtrader> snapback
[14:31:01] <AndresFX> I took long on
[14:31:03] <AndresFX> NQ
[14:36:27] <@wrbtrader> Covered all Emini TF Short @ 1225.30 --> - 1.4
[14:37:16] <AndresFX> COVER +4 ON NQ
[14:37:32] <@wrbtrader> volatility spike retracing a prior volatility spike
[14:38:01] <@wrbtrader> near a prior reaction low
[14:40:29] <@wrbtrader> Long Emini TF @ 1225.90 -> medium size
[14:40:48] <@wrbtrader> 1+2+1 contracts
[14:41:24] <@wrbtrader> I can't really push any more size than that in Emini TF in this type of price action
[14:41:40] <AndresFX> How many contracts for medium size
[14:41:41] <AndresFX> on tf
[14:41:50] <@wrbtrader> 1+2+1
[14:42:08] <@wrbtrader> = 4
[14:42:10] <@wrbtrader>
![smile :)](./images/smilies/icon_chatsmile.gif)
[14:42:23] <AndresFX> TF is good when u are in the right side
[14:42:24] <AndresFX> move fast
[14:46:05] <@wrbtrader> miscalculation on where's my WRB pt1
[14:46:13] <@wrbtrader> hopefully I get a 2nd chance
[14:50:30] <@wrbtrader> small 1 - 3
[14:50:46] <@wrbtrader> medium 4 - 5
[14:50:57] <@wrbtrader> large 6 - 9
[14:51:02] <AndresFX> good
[14:51:15] <@wrbtrader> I rarely go large in TF in these low volatility conditions
[14:52:34] <AndresFX> Good.
[14:52:51] <AndresFX> Can i ask you, how u can manage only 1 contract
[14:53:18] <AndresFX> My main problem is im only trading 1 contract, and many times took pt fast
[14:53:29] <AndresFX> and cant let more run. and its miss of many profits..
[14:53:50] <AndresFX> What kind of key tipe can u tell about manage only 1 contract.
[14:54:06] <@wrbtrader> Exited all Emini TF Long @ 1226.30 --> + 0.4
[14:55:13] <@wrbtrader> I manage 1 contract the same as I do a multiple contract
[14:55:30] <AndresFX> How, example u took pt1 with 1 contract
[14:55:44] <AndresFX> and then cant hold for pt2 or pt3
[14:55:56] <@wrbtrader> WRB pt levels has nothing to do with contract size
[14:56:09] <@wrbtrader> If I'm in a trade and I see volatility show up...
[14:56:25] <AndresFX> example if you would like took ur target and close
[14:56:32] <@wrbtrader> I'll take a chance and hold the trade a little longer to see if I can get a WRB pt2 or WRB pt3
[14:56:32] <AndresFX> u could miss the ride of the volatile
[14:56:43] <AndresFX> good
[14:56:48] <AndresFX> thats what i mean
[14:57:00] <@wrbtrader> I don't worry about missing additional profits
[14:57:15] <@wrbtrader> I just worry about my profit target
[14:57:47] <@wrbtrader> Simply, if I hit a profit target and I then exit and the price action continues to a higher profit level without me...
[14:57:47] <AndresFX> GOOD
[14:58:30] <@wrbtrader> The goal was reached and I exited at my WRB pt level...no use to worry about more profits when such was not the goal when I enter the trade
[14:58:55] <AndresFX> GOOD
[14:59:30] <@wrbtrader> I did a statistics one year back in 2003 about such
[14:59:50] <AndresFX> AND
[15:00:43] <@wrbtrader> I compare the trade results of all trades I exited at WRB pt1 that then went on to a WRB pt2...compared it to all trades that reached a WRB pt1 and I didn't exit and the trade retraced against me back to breakeven...
[15:01:20] <AndresFX> yes so preffer took pt1
[15:01:28] <AndresFX> and if more is cooming just wait for it
[15:01:31] <AndresFX> but took the first
[15:01:36] <AndresFX> and dont be greedy
[15:01:36] <@wrbtrader> In that year it was almost even. The difference is the psychology...too much stress when you worry about what happens after the trade has closed
[15:01:46] <AndresFX> Yes
[15:01:51] <AndresFX> I agree with you.
[15:02:03] <AndresFX> And i took years of lossing this feel.
[15:02:06] <@wrbtrader> Only time I get greedy is when volatility is VERY HIGH...
[15:02:18] <@wrbtrader> If I'm up big for the day...I'll keep trading
[15:03:04] <AndresFX> Good
[15:04:05] <AndresFX> And i ur are big loss in the day
[15:14:45] <@wrbtrader> I don't like how the Eminis are contracting in their volatility right now in the last 45 minutes of the regular trading session.
[15:23:05] <AndresFXX> retrasing
[15:23:06] <AndresFXX> up
[15:49:33] <@wrbtrader> Several Forex Currencies produced nice trends today including Forex EurUsd and GbpUsd
[15:53:05] <AndresFXX> Yes
[15:54:56] <@wrbtrader> Long Emini TF @ 1224.20 -> small size
[15:55:11] <@wrbtrader> 3 contracts
[15:55:57] <@wrbtrader> Exited all Emini TF Long @ 1223.90 --> - 0.3
[15:56:18] <AndresFXX> We have now
[15:56:20] <AndresFXX> summer time?
[15:56:34] <AndresFXX> market closes in 6 minutes?
[15:57:55] <TradeSnake______> Short GC @ 1087.3
[15:58:34] <@wrbtrader> Long Emini TF @ 1225.30 -> small size
[15:58:48] <@wrbtrader> re-entry
[16:01:53] <@wrbtrader> Exited all Emini TF Long @ 1225.90 --> + 0.6
[16:02:35] <@wrbtrader> Take care all and see all tomorrow
[16:22:57] <AndresFXX> see u
[17:02:07] * Disconnected
Session Close: Tue Aug 04 17:02:07 2015
-------------------------
##TheStrategyLab (located on the Freenode IRC network) is
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Price Action Trading
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