Login    Forum    Search    FAQ



Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: July 21st Thursday - Futures, Forex, Stocks and ETF
 Post Posted: Sat Jul 23, 2016 8:52 am 
Offline
Trader / Forum Admin

Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

##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 your 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 Review - This is not a signal calling trading room. We have no interest in trading rooms where a head trader tells other traders when to buy and sell. This chat room is free and many years ago it was started by users of WRB Analysis. Our job is to moderate the chat room (keep the peace between members) and to answer any questions involving WRB Analysis. The purpose of the chat room is 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 the 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. Thus, the usefulness of ##TheStrategyLab chat room is determined via your participation in the chat room.

Yet, you're not require to use the free chat room as a trade journal to get help with your trading. Instead, as recommended by some users of WRB Analysis, you can use professional journal services such as tradervue, edgewonk, tradebench or tradingdiarypro for your statistical analysis in combo with our chat room or your private thread to discuss with us the statistical analysis of your trading so that we can help you to improve your use of WRB Analysis. Therefore, you have many choices. You can use our chat room (you maintain your own statistics) as a trade journal or you can use professional trade journal services to do the work for you.

Also, do not attempt to use our chat room as a signal calling trade room via trying to mimic (copy) trades posted by members. If you do such, you will be KICKED from the chat room without warning. In fact, most of the negative commentary about TheStrategyLab website is by traders we've removed from the free chat room, the forum or website for violating our terms of use policy.

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 reviewing (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:
072116-Key-Price-Action-Markets.png
072116-Key-Price-Action-Markets.png [ 1.15 MiB | Viewed 272 times ]

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

Session Start: Thu Jul 21 09:28:48 2016
Session Ident: ##TheStrategyLab
[09:28:48] * Now talking in ##TheStrategyLab
[09:28:48] * 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'
[09:28:48] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[09:28:49] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:29:48] <wrbtrader> Good morning all
[09:30:18] <irza> Long Emini ES @ 65.25
[09:30:30] <mtntrader____> Morning
[09:30:36] <wrbtrader> I dumped that overnight position last night around 2am est for only a +0.25 profit (trail stop hit) on the retracement back down from 2170
[09:31:02] <irza> magnet 70
[09:31:45] <wrbtrader> Yeah...its an alert level for me...should have dumped it there when my audio trendline alert sounded (it woke me up)
[09:41:32] <wrbtrader> Long Emini ES @ 2166.75 -> large size
[09:41:50] <wrbtrader> 10 contracts
[09:42:09] <irza> adj stop to 64
[09:42:28] <wrbtrader> I also have my eye on a Short if it snaps back on increasing volatility
[09:43:08] <irza> yea 64 is prior week high, so far acting as support
[09:43:16] <irza> for more HHs
[09:46:32] <irza> finally a good trade
[09:50:02] <wrbtrader> Exited all Emini ES Long @ 2167.25 --> + 0.5
[09:50:14] <irza> i may have spoken too soon
[09:54:20] <wrbtrader> Long Emini ES @ 2166.50 -> large size
[09:54:26] <wrbtrader> 10 contracts
[09:57:48] <irza> Exited all Emini ES Long @ 65.5 --> + 0.25
[09:57:56] <wrbtrader> Exited all Emini ES Long @ 2165.50 --> - 1
[09:58:38] <wrbtrader> Shorts Emini ES @ 2165.00 -> large size
[09:58:44] <wrbtrader> 20 contracts
[10:02:54] <wrbtrader> KME came and went without a reaction...
[10:03:11] <wrbtrader> May produce one of those "delay" WRB Hidden GAP intervals
[10:04:47] <wrbtrader> Covered all Emini ES Short @ 2166.50 --> - 1.5
[10:05:08] <Tigerman____> today vola is dead :(
[10:05:23] <Tigerman____> in US market
[10:05:32] <wrbtrader> two consecutive days of range
[10:06:12] <Tigerman____> if price do not react to Kme you can think what about they can react :(
[10:06:34] <Tigerman____> we are at all time high in ES
[10:06:51] <Tigerman____> we are in summer and people afrait of all
[10:07:07] <wrbtrader> Shorts Emini ES @ 2165.1 -> large size
[10:07:20] <wrbtrader> correction...
[10:07:30] <wrbtrader> Shorts Emini ES @ 2165.25 -> large size
[10:07:38] <wrbtrader> 10 contracts
[10:08:01] <wrbtrader> Shorts Emini ES @ 2165.25 -> Add
[10:08:10] <wrbtrader> 10 added
[10:10:15] <wrbtrader> more ranging price action
[10:10:37] <irza> tough environment
[10:12:52] <wrbtrader> Covered all Emini ES Short @ 2166.75 --> - 3
[10:13:05] <irza> long plan was supposed to hold with a stop at globex low 62.5
[10:13:13] <irza> but psych wise, i couldn't do it
[10:13:16] <wrbtrader> -1.5 each
[10:13:35] <irza> looks like 70 play is back in play
[10:13:39] <irza> 70 magnet
[10:13:44] <wrbtrader> 2 point range in my trades...that's tight
[10:14:01] <wrbtrader> top of the range now @ 2167.00
[10:16:56] <wrbtrader> Shorts Emini ES @ 2166.50 -> large size
[10:17:06] <wrbtrader> re-entry
[10:17:10] <wrbtrader> 10+10
[10:17:25] <wrbtrader> intuition
[10:18:31] <wrbtrader> Emini ES retesting the R area of my trade range
[10:24:44] <wrbtrader> price action now retraced back down to the S area of my trade range
[10:25:10] <wrbtrader> Covered all Emini ES Short @ 2164.75 --> + 1.75
[10:26:54] <wrbtrader> Emini ES futures overall range (not the range of my trades) is getting smaller
[10:36:17] <Tigerman____> today I did many trades on ES ... fast trades not showed here ..
[10:36:40] <Tigerman____> my only Big mistake is used too much size
[10:37:08] <Tigerman____> last time I do in this enviroment :(
[10:38:28] <Tigerman____> in contrast I learned well this is the Market context to turn off trading PC and open PS4 and finish my prefered game seriously :)
[10:39:51] <wrbtrader> Tigerman, what's the averge duration of those "fast trades" you did today
[10:39:53] <wrbtrader> ?
[10:40:25] <Tigerman____> I check it now
[10:41:59] <Tigerman____> review it on platform ... is about 50sec each on ES
[10:43:11] <Tigerman____> today is range day price not push strong fast
[10:44:42] <Tigerman____> simply it needs stick only to strong push of action
[10:47:21] <Tigerman____> from my speed observation.. just two fast moves (not really fast just better then all the today s junk :(
[10:48:39] <Tigerman____> right after Kme after 10:15am the vola is dead and action junk
[10:50:27] <wrbtrader> Emini ES futures back to the R area of my trades
[10:50:35] <wrbtrader> now above it
[11:41:19] <wrbtrader> Shorts Emini ES @ 2153.00 -> large size
[11:41:31] <wrbtrader> 10 contracts
[11:48:04] <wrbtrader> Covered all Emini ES Short @ 2161.00 --> - 8
[11:48:21] <wrbtrader> correction...
[11:48:27] <wrbtrader> +2
[11:49:12] <wrbtrader> The posted Short should have been 2163.00 (not 2153.00)
[11:49:28] <wrbtrader> 2153.00 is a key price area I'm monitoring
[11:49:54] <wrbtrader> some support there from Tuesday is the 2153
[11:51:07] <irza> missed it
[11:51:12] <irza> good volatility so far
[11:51:29] <irza> wonder if they want to breach prior low
[11:51:33] <wrbtrader> I missed when it started...I was doing some laundry :(
[11:51:34] <irza> prior day low
[11:51:48] <irza> at least u got something
[12:07:55] <Tigerman____> I close here
[12:08:07] <Tigerman____> I no trade tomorrow
[12:08:23] <Tigerman____> take care all have a safe weekend see all next week
[12:12:01] <wrbtrader> Someone asked me in email why I don't use depth of market (DOM) information for my trade decisions ?
[12:12:46] <wrbtrader> Market depth, price ladder, bid/ask screens are not a part of my trade decisions
[12:13:24] <wrbtrader> Thus, those screens are not up on my monitor unless I load my default template...in that case...I minimize the screen so I can't see it because I don't need it
[12:13:41] <wrbtrader> Today's markets are heavily occupied by "algorithms"
[12:14:18] <wrbtrader> The goal for the algos is to cancel orders to deceive, manipulate, hide their true intentions
[12:14:37] <wrbtrader> Depending upon what article you read in magazines, reuters or bloomberg...
[12:15:12] <wrbtrader> Algos represent 50% to 85% of the information you see in your price ladders and bid/ask screens
[12:15:28] <wrbtrader> That's a ton of "fake" information to be digesting
[12:16:07] <wrbtrader> In contrast, I do sometimes watch the Time & Sales screen for the "speed" of the price action
[12:16:22] <wrbtrader> Usually in high volatility market conditions or when volatility is increasing fast
[12:16:54] <wrbtrader> I'm just not a DOM trader and I don't manage my trades (entry, exit, stop management) via the DOM
[12:18:07] <wrbtrader> Back in the early 2000...I explore DOM trading when algos had not taken over the market and level II trading looked interesting...
[12:18:30] <wrbtrader> But I just really never got into that stuff
[12:18:53] <wrbtrader> and then when I was ready to explore it again...algos started taking over
[12:19:30] <wrbtrader> I think there may be merits to DOM trading for scalpers
[12:25:48] <wrbtrader> On of the best DOM trading resources out there is by a guy name of FuturesTrader71...he's into market profile and volume profile
[12:26:31] <wrbtrader> I've had some good conversations with him in the past many years ago before he started his prop firm and his own education website
[12:27:13] <mtntrader____> Yes, he has his own brokerage firm now, too.
[12:27:39] <wrbtrader> Wow...brokerage firm. Didn't know that
[12:29:00] <wrbtrader> His twitter account @ https://twitter.com/futurestrader71/
[12:30:11] <mtntrader____> His brokerage firm: http://www.stage5trading.com/
[12:30:27] <wrbtrader> Thanks
[12:30:29] <irza> ya i watch his trader bites
[12:30:34] <irza> for key levels
[12:30:45] <irza> in case i miss some during my homework
[12:30:49] <wrbtrader> He was one of the original members in here
[12:30:56] <irza> oh really?
[12:30:56] <irza> wow
[12:31:02] <mtntrader____> Cool
[12:31:36] <wrbtrader> The chat room was via a different name back then and he still has a membership to the forum but inactive
[12:32:01] <TradeSnake______> Thanks for that explanation wrbtrader, something I was also wondering about. I use the DOM for my trade execution simply for ease of use (ie. one click order entry and drag and drop stop management) However I do not use the DOM information to make trading decisions.
[12:32:04] <wrbtrader> He became more of a suit n tie guy when he went into the prop firm business :)
[12:32:17] <mtntrader____> Yes, Morad Askar is his name
[12:32:48] <irza> he has done a few valuable webinars on psychology, worth watching (FT71)
[12:33:29] <wrbtrader> Yes...it was because of him I started to get more into the "psychology" aspects of trading
[12:34:06] <wrbtrader> My own research after that into psychology helped tremdously with my consistency
[12:34:55] <wrbtrader> It became more about "me" and less about my "trade methods"
[12:35:55] <wrbtrader> Anyways, he has some webinars out there about DOM, market depth, volume profile is anyone is interested in that stuff
[12:38:51] <Tigerman____> wrbtrader .... I almost close the chat .... then I check and you start interesting conversation :)
[14:52:59] <wrbtrader> Shorts Emini ES @ 2156.25 -> large size
[14:53:20] <wrbtrader> 20 contracts
[15:00:02] <wrbtrader> Emini ES futures fighting hard not to give up the support of 2155.50
[15:00:37] <wrbtrader> Covered all Emini ES Short @ 2156.00 --> + 0.25
[15:00:57] <wrbtrader> geeesh
[15:05:05] <wrbtrader> Shorts Emini ES @ 2155.25 -> large size
[15:05:17] <wrbtrader> 10 contracts
[15:05:20] <wrbtrader> re-entry
[15:12:17] <wrbtrader> Covered all Emini ES Short @ 2153.75 --> + 1.5
[15:13:55] <wrbtrader> I thought I would be able to catch that support area of 2153.00 as a profit target but Emini ES stalled on the increasing volatility
[15:45:45] <wrbtrader> Long Emini ES @ 2158.00 -> large size
[15:45:53] <wrbtrader> 10 contracts
[15:46:25] <wrbtrader> keywords: volatility WRB Analysis Review
[15:47:32] <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.
[15:50:26] <wrbtrader> Exited all Emini ES Long @ 2158.25 --> + 0.25
[15:55:30] <wrbtrader> Long Emini ES @ 2158.75 -> large size
[15:55:37] <wrbtrader> re-entry
[15:56:15] <wrbtrader> I'll be shocked if it turns into a dead 4pm est rush hour traffic
[15:57:12] <wrbtrader> Even with the climbing volatility...the prior contraction sets up to be an interesting close
[15:57:26] <wrbtrader> in the stock market
[15:59:37] <wrbtrader> Exited all Emini ES Long @ 2158.75 --> 0
[15:59:50] <wrbtrader> it tried :(
[16:04:21] <wrbtrader> Volatility made an effort today...
[16:04:53] <wrbtrader> Hopefully tommorrow it will not do one of those big gap ups or big gap downs to suck the energy out of the regular trading session
[16:05:03] <mtntrader____> Yep, better when we get these downside moves.
[16:05:49] <wrbtrader> My left arm muscles got very sore today from all the typing with one hand (had to ice it down)
[16:06:39] <mtntrader____> So you are able to work the mouse with our casted hand?
[16:07:06] <wrbtrader> The good thing is that I can now squeeze the fingers on my right arm (arm with the cast) together without any pain and I'm no longer on the pain medication
[16:07:14] <wrbtrader> mtntrader...just a little
[16:07:31] <wrbtrader> I did such for about 15 minutes today until the cramps showed up
[16:08:36] <mtntrader____> Ok, so trading is your PT. :-)
[16:08:56] <wrbtrader> The hand ball is :)
[16:09:15] <mtntrader____> Cool. See you tomorrow.
[16:09:28] <wrbtrader> Take care all and see all tomorrow
[18:30:57] * Disconnected
Session Close: Thu Jul 21 18:30:58 2016


Top 
 Profile E-mail  
 
Display posts from previous:  Sort by  
 
Post new topic Reply to topic Bookmark and Share  [ 1 post ] 


Who is online

Users browsing this forum: No registered users and 1 guest

 
 

 
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr