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 Post subject: August 22nd Monday - Futures, Forex, Stocks and ETF
 Post Posted: Fri Aug 26, 2016 6:44 pm 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
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 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 (keep the peace between members) the chat room 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 after we've removed them from the free chat room, removed them from the forum or removed them from the 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:
082216-Key-Price-Action-Markets.png
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click on the above image to view today's price action of key markets

Session Start: Mon Aug 22 09:30:34 2016
Session Ident: ##TheStrategyLab
[09:30:34] * Now talking in ##TheStrategyLab
[09:30:34] * 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'
[09:30:34] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[09:30:35] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:31:26] <wrbtrader> Good morning all
[09:32:00] <mtntrader____> Morning
[09:34:40] <irza> Long Emini ES @ 74.5
[09:57:30] <efloortrader7> good morning folks
[09:57:40] <efloortrader7> Short ZB @ 72-02 Swing Trade
[10:03:58] <irza> Exited all Emini ES Long @ 75 --> + 0.5
[10:18:21] <wrbtrader> Long Emini ES @ 2180.00 -> large size
[10:18:35] <wrbtrader> 20 contracts
[10:19:17] <Tigerman____> lg Spy 218.48 med sz
[10:19:26] <Tigerman____> chase via 5 tk :(
[10:19:34] <Tigerman____> not a fill @ 42
[10:20:00] <Tigerman____> exit 2/3 @ 51 +3 tk
[10:20:14] <Tigerman____> exit all rem @ 54 +6 tk
[10:21:21] <wrbtrader> Exited 1/2 Emini ES Long @ 2180.25 --> + 0.25
[10:25:02] <wrbtrader> Exited Remainder Emini ES Long @ 2182.00 --> + 2
[10:25:39] <wrbtrader> exited near Friday's close
[10:26:10] <irza> wow had LOD area
[10:26:13] <irza> played it really bad
[10:26:29] <irza> working on my patience
[10:26:36] <wrbtrader> Initially I had decided to go in with 10 contracts but then that volatility continue increasing...
[10:26:46] <wrbtrader> So I cahnge my order to 20 contracts
[10:27:01] <wrbtrader> Then the volatility started declining but price only dropped a few ticks...
[10:27:33] <wrbtrader> I decided to dump just 1/2 for a tick profit just in case it was a pause in the volatility
[10:28:42] <wrbtrader> I still have problems in situations like that...
[10:28:57] <irza> how much money can u make off 1 tick off ur 10 contracts including commission?
[10:29:25] <wrbtrader> Take a little profit on some contracts to reduce the stress (pressure) of the psychology in the trade while holding the remainders for a bigger profit level
[10:29:54] <wrbtrader> irza...make enough to pay for the commisssions, fees and my own business costs for the trade
[10:31:14] <wrbtrader> I calculate the costs of me doing business (treating my trading like a business)...beyond just looking at broker fees
[10:31:17] <irza> <$100?
[10:31:23] <irza> :)
[10:31:54] <wrbtrader> irza...you're close
[10:31:57] <wrbtrader> :)
[10:32:27] <wrbtrader> I calculate everything like the cost of seeing my tax attorney 3x per year
[10:32:48] <wrbtrader> costs of buy a new trading desk, new trading chair
[10:32:59] <wrbtrader> Everything that any other business owner would calculate
[10:33:22] <wrbtrader> Last year I had new energy saving windows installed in my office
[10:33:23] <irza> i understand, wanted to take a stab at how much commission u were paying but u prefer to keep private :)
[10:33:44] <wrbtrader> Yeah...I keep all my costs private
[10:33:57] <wrbtrader> If everybody knew how much trading really costs...
[10:34:02] <wrbtrader> Most would run :)
[10:34:27] <irza> thought trading has lowest overhead cost than most businesses out there
[10:34:28] <wrbtrader> The flaw is that many concentrate only on the broker fees and commissions
[10:35:00] <wrbtrader> Thus, if someone calculated ONLY broker fees and commissions and thought they were breakeven after their profits...
[10:35:27] <wrbtrader> They really are going to be in the whole by several thousand of dollars is they calculated in all the other costs of being a trader
[10:35:40] <wrbtrader> is = if
[10:35:59] <wrbtrader> This was the first thing I learned from my tax attorney
[10:36:24] <Tigerman____> yeah ... true cost is more then only broker fee but..
[10:36:45] <wrbtrader> Seriously, I had a custom large fish tank built for my office a year or so ago...
[10:36:49] <Tigerman____> trading is very cheaper vs most others business
[10:36:51] <wrbtrader> I talked about it in here
[10:37:17] <wrbtrader> I deducted it on my business taxes
[10:37:38] <wrbtrader> Thus, its calculated in my cost of trading that year
[10:38:05] <wrbtrader> Buying a sofa for the office...
[10:38:12] <wrbtrader> Its calculated into the cost of trading
[10:39:57] <wrbtrader> I just need to make $100 per 10 contracts to cover all my expenses based upon the number of contracts per year
[10:41:10] <Tigerman____> trading is cheap as hardware and soft these days
[10:41:33] <Tigerman____> can costly if you rrent office in city centre
[10:41:42] <Tigerman____> expecially NY or london
[10:41:57] <wrbtrader> That's where I'm going back too...
[10:42:13] <wrbtrader> Renting (leasing) an office.
[10:42:26] <Tigerman____> in contrast I prefer barricated at home
[10:42:32] <wrbtrader> Situation at home changing where I don't need to trade from home any more
[10:42:46] <wrbtrader> I can go back to the office environment with other traders
[10:43:00] <wrbtrader> been looking for an office space the past few months
[10:43:25] <Tigerman____> simply not sure if others let me trade dressed like at beach :)
[10:43:35] <mtntrader____> You don't need other traders. You have us. ;-)
[10:43:41] <wrbtrader> :)
[10:43:54] <wrbtrader> I'm not really a "lone wolf" type
[10:44:27] <wrbtrader> I need to be around other traders "in person"...don't care what methods they're using or their trading style
[10:44:39] <Tigerman____> yeah I like people but ...
[10:44:43] <wrbtrader> Just as long as they're willing to split the rent and pay their bills
[10:45:11] <Tigerman____> it is too good do whatever I want at home
[10:46:02] <Tigerman____> like play tennis when market is sleeping
[10:46:29] <Tigerman____> that is work in progress
[10:46:44] <wrbtrader> There are advantages to trading at home but there are disadvanges too
[10:46:59] <wrbtrader> especially tax stuff
[10:47:57] <wrbtrader> I've been through a nasty audit once...
[10:48:14] <wrbtrader> Will never make that mistake again
[10:48:33] <irza> do u need any broker licenses when posting live calls here?
[10:49:13] <mtntrader____> I don't know how the tax laws are in Canada, but here in the US, writing off a fish tank would be asking for an audit.
[10:49:14] <wrbtrader> Don't know and not worry about it because this is NOT a signal calling trading room telling others when to buy and sell
[10:49:51] <wrbtrader> mtntrader...depends on the office type
[10:50:17] <wrbtrader> My home office is an add on to the house...separate entrance...seperate driveway
[10:51:22] <Tigerman____> my office is more home made
[10:51:50] <Tigerman____> trading in living situation
[10:52:09] <wrbtrader> Simply, I'm not setup in some living room in my primary residence and trading from the living room table and then trying to deduct that room at the end of the year as an office space
[10:52:17] <Tigerman____> I mean is more a dancefloor :)
[10:52:43] <wrbtrader> My audit occurred via my accounts and property in Europe
[10:53:15] <Tigerman____> I like the fixed tax on the capital gain
[10:53:42] <Tigerman____> expecially in those countries where is = :)
[10:53:56] <Tigerman____> oops zero
[10:54:24] <wrbtrader> That's why I had to hire a special tax attorney that understands taxation laws for people with dual citizenship and paying taxes in different countries
[10:55:07] <Tigerman____> regardlless most difficult part x me is the trading itself trading cost are very low
[10:55:11] <Tigerman____> x me
[10:55:54] <Tigerman____> unless I rent a Big office in main avenue
[10:56:19] <Tigerman____> with gold doors and things such taht :)
[10:56:49] <wrbtrader> Lesson...keep receipts, bank statements, credit card statements and other statements of EVERYTHING just in case :(
[10:57:14] <wrbtrader> Some days I wish I had a personal assistance :)
[10:57:47] <wrbtrader> Another lesson learned...
[10:58:21] <wrbtrader> Be careful of doing business with someone that says "pay me cash only and there will be no receipts"
[10:58:23] <wrbtrader> :)
[10:59:42] <wrbtrader> I had a tooth problem (root cyst) while visiting relatives in Europe...
[10:59:59] <wrbtrader> The dentist said "cash only"
[11:00:01] <wrbtrader> :)
[11:00:45] <Tigerman____> I assume it discounted right ?
[11:00:56] <wrbtrader> That's a big problem considering I pay private health insurance
[11:01:08] <wrbtrader> No discount
[11:01:44] <wrbtrader> Just some places are obviously not documenting how much cash clients they're getting for tax reasons
[11:05:07] <wrbtrader> An audit shouldn't force people to keep indepth details of their expensesa an income
[11:05:17] <wrbtrader> Its just something we should all do anyways
[11:05:39] <wrbtrader> I think the old advice is keep all your info for 3 years...
[11:05:43] <wrbtrader> I say 10 years
[11:06:16] <wrbtrader> You just never know when you need something from 5 years ago that may have nothing to do with your taxes
[11:07:06] <Tigerman____> yeah agree just easy if you stay in big flat or house
[11:07:20] <Tigerman____> issue in small flat
[11:08:19] <wrbtrader> I'm just waiting for ES to pop above 2182 and hopefully on increasing volatility
[11:08:46] <wrbtrader> especially when its trading near the prior trading day close
[11:09:07] <wrbtrader> Someone called me a pullback trader...
[11:09:18] <wrbtrader> others call me a breakout trader...
[11:09:30] <wrbtrader> others call me trend trader
[11:09:39] <wrbtrader> others call me a mean reversion trader
[11:10:01] <wrbtrader> I tell them all, I use "different strategies" for different market situations
[11:10:13] <wrbtrader> I'm not one type of trader
[11:10:29] <irza> i'm gonna call u momentum seeker
[11:10:37] <irza> hehe
[11:10:42] <wrbtrader> That's the best description
[11:11:09] <wrbtrader> I hate when I enter a trade and then the momemtum and volatility dries up "after" my entry
[11:11:09] <irza> and sometimes u are very late in the trend but that is because u are looking for momentum to continue
[11:11:35] <wrbtrader> I feel like I've been ambushed, tricked, suckered...kidney punch
[11:11:37] <wrbtrader> :)
[11:11:48] <irza> in vix < 12 environment, the odds of momentum are greatly reduced lol
[11:12:41] <Tigerman____> simply price action can do many things after our entry :(
[11:12:50] <wrbtrader> I talk about that a lot in here...reason why next summer will most likely be my first real summer vacation from the markets
[11:13:00] <wrbtrader> low volatility environment
[11:13:09] <Tigerman____> our experience need tell us what to do
[11:13:15] <wrbtrader> If it was for Brexit and a few other stuff...
[11:13:24] <wrbtrader> I'm sure the Vix would be in the 10 reange
[11:13:42] <Tigerman____> about Vix...
[11:14:01] <wrbtrader> Tigerman...exactly...we can do good analysis on entry...
[11:14:22] <wrbtrader> We just can't control what happens after the entry except our trade management
[11:14:51] <wrbtrader> Some big mouth politician can say the wrong word after we enter a trade...
[11:15:00] <wrbtrader> Boom...we now have a big loss
[11:15:16] <Tigerman____> yeah a fat finger too
[11:15:34] <wrbtrader> Yeah, I've caught the worst of those too
[11:15:48] <wrbtrader> I've even benefit from such...
[11:16:01] <Tigerman____> simply trading is costly in one thing.....
[11:16:07] <Tigerman____> time!!!!!!!
[11:16:09] <wrbtrader> Yet, a few times I've had trades "busted" when that happens
[11:16:36] <Tigerman____> it needs a lot of it to understand market ... soon market change again :(
[11:17:08] <Tigerman____> seriously as day trading every year pass by is worst :(
[11:18:10] <Tigerman____> so the issue is after many years spent to learn trading can go underwater :(
[11:18:54] <wrbtrader> irza...you're going to learn you don't give out the wrong type of info to someone because you really do not know whom you're talking to and you don't know what they're going to use the information for or whom they may share it with.
[11:19:18] <wrbtrader> It just good practive with all the internet problems with anonymous people
[11:19:19] <Tigerman____> theses days vola is low because economy stalled ..plus algos steal the action
[11:19:19] <irza> oh ok
[11:19:53] <irza> Long Emini ES @ 79.5
[11:20:03] <irza> gonna give it a shot
[11:20:30] <wrbtrader> Have you ever been a victim of identity theft or someone steals your credit card number ?
[11:20:38] <irza> once
[11:20:49] <wrbtrader> I have...
[11:20:57] <wrbtrader> Ahhh...ok...you understand
[11:21:24] <wrbtrader> I went to a 5 star restaurant and gave my credit card to the waitress
[11:21:58] <wrbtrader> What I didn't know was that when she was charging me at the counter...someone got a hold of my credit card number...
[11:22:04] <wrbtrader> All downhill for me after that
[11:22:12] <wrbtrader> Took about a year to clear up the mess
[11:22:15] <irza> Exited all Emini ES Long @ -2 --> - 81.5
[11:22:40] <irza> Exited all Emini ES Long @ 77 --> - 2.5
[11:22:43] <irza> i see
[11:23:04] <wrbtrader> Es had retraced that volatility spike and is now retesting the S area of the biggest Up WRB Hidden GAP interval in the earlier uptrend
[11:23:54] <wrbtrader> Shorts Emini ES @ 2176.75 -> large size
[11:24:00] <wrbtrader> 10 contracts
[11:24:17] <wrbtrader> trade actually posted prior to the fill
[11:24:24] <wrbtrader> I don't often do that
[11:24:31] <wrbtrader> was confident I would get the fill
[11:25:56] <wrbtrader> hopefully it can stay below the S area
[11:26:12] <wrbtrader> If not...Longs will show up fast
[11:26:55] <Tigerman____> sh spy 218.10
[11:27:07] <wrbtrader> tighting initial stop from the R area of 2179.25 to 2177
[11:27:52] <wrbtrader> more contraction
[11:28:12] <wrbtrader> If it continues...my FEAR increases and i will just dump the position
[11:29:33] <Tigerman____> exit 1/2 @ 218.01 +9tk
[11:30:49] <wrbtrader> Reminder - Rio Olympics has completed...
[11:31:10] <wrbtrader> Hopefully we'll have better trading days going into the U.S. presidential elections
[11:31:23] <wrbtrader> better volatility is what I meant
[11:31:33] <irza> looks like it is back
[11:31:36] <irza> lol
[11:31:54] <wrbtrader> Kids soon back in school
[11:32:13] <wrbtrader> That traditionally brings back a little volatility
[11:32:22] <mtntrader____> Mine's been in school for a week already.
[11:33:20] <wrbtrader> More time to trade...less stress
[11:33:32] <mtntrader____> Yep
[11:34:26] <Tigerman____> exit rem @ 218.04 +6tk
[11:35:47] <wrbtrader> Covered all Emini ES Short @ 2176.00 --> + 0.75
[11:36:12] <wrbtrader> disappearing act in the volatility...spooked me out of the trade
[11:41:01] <wrbtrader> I've been thinking lately that one of the hardest thing to do in trading is to stay out of crappy price action even when we have a valid trade signal
[11:41:38] <mtntrader____> I agree. Very difficulet.
[11:41:51] <wrbtrader> In our subconscious...we know if the price action if bad or good.
[11:42:41] <Tigerman____> wrbtrader... I think is more related to strenght of the market
[11:42:55] <wrbtrader> I've been reviewing a lot about "behavior finance" and "cognitive decision making" the past few years about my decision making in difficult trading periods
[11:43:13] <Tigerman____> simply if no enought will from market partecipant is there ... trading is hard
[11:43:28] <wrbtrader> Tigerman...exactly
[11:43:53] <Tigerman____> simply these days is more difficult
[11:44:03] <wrbtrader> The issue is at what point in your subconsious in a difficult trading day did you come to that conclusion ?
[11:44:09] <Tigerman____> vola is dry up via algos
[11:44:31] <wrbtrader> Surprising for me its early in the price action when my subconsious begins telling me "this sucks"
[11:44:56] <Tigerman____> yeah at regular day beginning
[11:45:13] <wrbtrader> I've gotten better at then ignoring trade signals when my subconscious is telling me the price action is not worth trading
[11:45:18] <Tigerman____> I call it harmonium action
[11:45:38] <Tigerman____> because similar old harmonium instrument
[11:46:01] <Tigerman____> then is the quotes life
[11:46:17] <Tigerman____> in January was good
[11:46:18] <wrbtrader> The other issue is that in my documentation of trade signals...I now document why I've ignored a valid trade signal
[11:46:58] <wrbtrader> results so far in the past two years...
[11:47:10] <wrbtrader> I've been able to minimize my losses
[11:47:33] <wrbtrader> increasing the chance for the trading day to result as a profit
[11:47:38] <Tigerman____> yeah when doing nothing is a plus
[11:47:52] <Tigerman____> not easy expecially x me
[11:48:04] <Tigerman____> simply no others choise these days
[11:48:14] <wrbtrader> Not something possible to do when I first started trading
[11:48:21] <Tigerman____> we are at all time high in us index
[11:48:46] <Tigerman____> vola index are at all time low :(
[11:49:23] <Tigerman____> 17: 48 36 <wrbtrader> Not something possible to do when I first started trading yeah taht my issue now ... if I no trade no money to pay the bill
[11:50:19] <Tigerman____> so now trading is not x everyone
[11:50:52] <Tigerman____> also you force trading because hope it will be good
[11:51:07] <Tigerman____> you as trader in general
[11:51:34] <Tigerman____> plus you miss a trade = day is over
[11:51:53] <Tigerman____> take a loss day is over because no more oportunity
[11:52:46] <Tigerman____> iin contrast you can read in many trading forums .. many machine traders trading every day as always
[11:53:00] <Tigerman____> simply they are liars :(
[11:53:17] <wrbtrader> irza...forgot to mention...
[11:53:47] <wrbtrader> One of the reasons why I don't have a signal calling service is that I believe they should all be licensed and regulated
[11:54:20] <wrbtrader> IRC is not suitable for signal calling trading room.
[11:54:41] <wrbtrader> Reason why its just a chat room...anybody using WRB Analysis or understand it can log in
[11:54:58] <wrbtrader> Nobody in here telling others when the buy or sell
[11:55:16] <irza> yes a private trader told me to be careful about living calling in chat rooms
[11:55:25] <Tigerman____> also is almost impossible follow a call in a chat
[11:55:26] <irza> mainly due to IRS
[11:55:37] <Tigerman____> unless swing trading
[11:55:37] <irza> sorry SEC
[11:55:52] <wrbtrader> I really don't understand the rules involving signal calling trading rooms...
[11:55:55] <irza> might think we (the people posting live calls) giving financial advice
[11:55:57] <Tigerman____> the time you post the call price is gone :)
[11:56:03] <wrbtrader> Some say you must be licensed and others say you don't
[11:56:20] <irza> if trading size probably in the hundreds, gotta be license
[11:56:30] <irza> i'm a small fish at 2-5 cars so they won't touch me
[11:56:36] <irza> but if trading > 50+
[11:56:43] <irza> it will raise a flag
[11:56:48] <irza> that's what i've been told
[11:57:14] <irza> but was curious if u have similar experiences since ur trading size is reasonably large
[11:57:38] <wrbtrader> I don't know the rule about size or if there's such a rule
[11:58:47] <wrbtrader> I do know that if you're licensed...you must follow the rules involving telling others when to buy and when to sell
[11:59:18] <wrbtrader> You also open the doorway for all kinds of legality (fines and prison) if you're doing somethign wrong
[12:00:26] <wrbtrader> Signal calling trading rooms are extremely popular but I really don't understand why considering as Tigerman stated...very difficult to get the same fills unless trades are called way in advance
[12:00:34] <Tigerman____> yeah also some banks was fined and forced to give back money to investors
[12:00:52] <wrbtrader> Than there's the issue of maintenance...
[12:01:10] <Tigerman____> investor pretended to be a victim
[12:01:15] <wrbtrader> You gotta be there almost every trading day...people are paying for you to be there
[12:01:25] <Tigerman____> in contrast they was aware of the risk
[12:01:55] <wrbtrader> Can't say "be back later...gonna spend a little time with my girlfriend that stop by"
[12:01:57] <wrbtrader> :)
[12:02:22] <Tigerman____> wrbtrader I do not believe can be a valid signal calling room
[12:02:35] <Tigerman____> in intraday
[12:02:41] <wrbtrader> I agree
[12:03:20] <wrbtrader> I did a write up once that pssst off a lot of people when I talked about the flaws with "signal calling trading rooms"
[12:03:25] <wrbtrader> I got a lot of hate mail
[12:03:41] <Tigerman____> also I learned after long time,risk mamagement are personal so it is difficult
[12:04:15] <wrbtrader> There's also a cognitive decision making reason why the business model of signal calling is flawed...
[12:04:29] <wrbtrader> A lot of them do those 1 - 2 week free trials...
[12:04:56] <wrbtrader> Most people aren't going to actually trade with real money when they're doing those free trials
[12:05:13] <wrbtrader> They're just there to "test" the room...to see if its worthwhile
[12:05:35] <wrbtrader> Those the simulate the trades...it has no merits
[12:06:03] <wrbtrader> because there's this "trust issue" when real money is on the line
[12:06:28] <wrbtrader> That trust issue is not present when its simulating trading someones signal calls...it ain't real money
[12:06:34] <wrbtrader> Anybody can follow then
[12:07:18] <wrbtrader> Most will having problems following the calls with their hard earned money of someone they've only know a few weeks...the trust issue.
[12:07:42] <wrbtrader> That's why I think most signal callers should have a minimum of one month free trial
[12:08:17] <wrbtrader> It really takes that long for someone to "begin" developing trust in the signal calls...enough trust that they'll use real money on the trades
[12:08:34] <wrbtrader> You can't do that in a 1 - 2 week free trial
[12:09:05] <wrbtrader> The other suspicious reason...
[12:09:49] <wrbtrader> Why recommend a signal calling trading room if you're not going to use real money yourself and continue using the room to make money ?
[12:09:59] <wrbtrader> There's that "trust issue"
[12:10:34] <wrbtrader> Someone the other day told me about a room to use because he said it can make me money if I was interested.
[12:10:47] <wrbtrader> I asked him if he was using the room ?
[12:10:54] <wrbtrader> He said no...not anymore
[12:11:02] <wrbtrader> I asked why ?
[12:11:11] <wrbtrader> He said he now has his own profitable method
[12:11:42] <irza> right
[12:11:52] <irza> gotta come up with own style
[12:11:57] <irza> copying rarely works
[12:12:36] <wrbtrader> I talked once to the owner of a highly recommended signal calling trading room...
[12:13:05] <wrbtrader> I asked why do they have a high turnover rate with its members even though they are one of the few recommended signal calling trading rooms out there.
[12:13:24] <wrbtrader> He said its a "trust issue" especially when they have a losing trading day
[12:14:19] <wrbtrader> He said he's seen people in the room have 4 consecutive winning days but then cancel their subscription after having a losing day that does not even lose more than one of the profitable days...
[12:14:24] <wrbtrader> People can not handle losses
[12:14:29] <wrbtrader> It scares them
[12:15:39] <wrbtrader> Emini ES futures trying the retest the S area of one of those big down WRB HG intervals in the volatile down movement
[12:19:38] <wrbtrader> Also, the internet is not perfect
[12:20:04] <wrbtrader> Its impossible for a signal calling trade room to be running every trading day without any problems.
[12:20:33] <wrbtrader> We all have computer problems...ISP problems...weather problems or something
[12:20:49] <wrbtrader> Impossible to be up and running every day
[12:21:19] <wrbtrader> They are not like a broker with headquarters all over the planet
[12:22:11] <wrbtrader> If I worked for a signal caller...he/she would fire me because of all the times I'm absent during the trading day on most trading days
[12:22:13] <wrbtrader> :)
[12:23:40] <wrbtrader> Emini ES futures now above its most recent reaction high
[12:24:10] <wrbtrader> Long Emini ES @ 2179.50 -> small size
[12:24:16] <wrbtrader> 5 contracts
[12:24:55] <wrbtrader> volatility showed up too...its now retraced that earlier big down movement
[12:25:14] <wrbtrader> meant..it has returned to the beginning of that down movement
[12:25:25] <wrbtrader> around the 2182 price area
[12:27:11] <wrbtrader> Exited all Emini ES Long @ 2183.00 --> + 3.5
[12:27:52] <wrbtrader> strange volatility that took it right back where it started to that downside
[12:28:26] <wrbtrader> That's planned...not a coincidence about what they markets just did
[12:29:09] <wrbtrader> We in here are just small fish in a very big pond
[12:31:40] <wrbtrader> I consider this type of price action to be "very suspicious"
[12:32:20] <wrbtrader> Spike it up like that in the morning to only drop it back to where it started to then only spike it back up again to where the prior drop had started...
[12:32:37] <wrbtrader> That's something the exchanges should take a closer look at
[12:33:26] <irza> or we can call it a range
[12:34:22] <wrbtrader> Exchanges should take a closer look for possible "collusion" between the big boys involved
[12:34:54] <wrbtrader> It's happen before in the Crude Oil markets, Brent Oil markets, Forex, and Gold markets
[12:35:26] <wrbtrader> When they caught those forex bank traders for multiple different banks doing that a few years ago...
[12:35:44] <wrbtrader> It involved some of the biggest players in the game
[12:36:49] <wrbtrader> They called themselves "The Cartel"...
[12:37:14] <wrbtrader> They primarily commumicated with each other in "private chat" rooms on bloomberg network
[12:38:12] <wrbtrader> A little about it @ http://uk.businessinsider.com/barclays- ... ion-2015-5
[12:38:54] <wrbtrader> Dirty world of chat rooms :)
[12:39:24] <wrbtrader> We need to get someone in here that's using Bloomberg :)
[12:39:29] <wrbtrader> Join in on the fun
[12:43:23] <wrbtrader> That isn't just a problem in Forex
[12:43:30] <wrbtrader> Its being done in most markets
[12:43:31] <Tigerman____> hi all I m back
[12:44:22] <wrbtrader> There was even rumors about Brent Oil manipulation during the Brexit
[12:44:47] <wrbtrader> A lot of oil traders losing in some "strange price action"
[12:45:09] <Tigerman____> yeah but others gain :)
[12:45:32] <wrbtrader> Yeah...big gains if you're in their private chat rooms :)
[12:45:37] <Tigerman____> wrbtrader... simply is not possible rid off manipolation
[12:45:57] <wrbtrader> I kwnow we can't stop it or get rid of it.
[12:45:58] <Tigerman____> expecially in low vola days
[12:46:08] <wrbtrader> We just need to be aware its "happening"...
[12:46:15] <Tigerman____> yeah
[12:46:17] <wrbtrader> Not part of our imagination
[12:46:33] <Tigerman____> sad it can destroy a nation :(
[12:46:53] <wrbtrader> Exactly or cause big economic problems
[12:47:04] <Tigerman____> it occured some years ago in bond market in europe
[12:47:29] <Tigerman____> Greeks and south eu country
[12:47:57] <Tigerman____> just some sell from big german banks and interest skyrockets
[12:48:34] <Tigerman____> so when you bought after that you have a 8% interest garanteed for next 30 years minimum
[12:49:02] <Tigerman____> that was the reason about resque some country
[12:53:21] <wrbtrader> crazy
[12:53:45] <wrbtrader> I remember the first personal loan I ever got...
[12:54:04] <wrbtrader> They said I was eligible for 10k
[12:54:28] <wrbtrader> but I mistakenly put down 7k needed
[12:54:56] <wrbtrader> I then a few days asked for the other 3k...they said it will be at an added 4% interest
[12:54:58] <wrbtrader> :)
[12:56:22] <wrbtrader> 10k at 9% but ask for 7k at 9% and 5 days later asked for the other 3k but they were only willing to do it at 12%
[12:56:37] <wrbtrader> big money making business for them
[12:56:59] <wrbtrader> Decided not to get the other 3k and then paid off the 7k in a few months
[12:57:27] <wrbtrader> Never did business with that bank again and closed my regular checking/savings account
[12:58:07] <wrbtrader> actually it was like 12.8%
[12:58:12] <wrbtrader> almost 4
[12:58:27] <wrbtrader> increase
[12:58:51] <wrbtrader> I see that now today when moving currency between banks in different countries
[12:59:30] <wrbtrader> Reason why I need to watch Forex price action closely...
[13:00:09] <wrbtrader> I only move money around when there's a minimum of 10% change to swallow the ridiculous fees/charges by the banks
[13:04:42] <wrbtrader> Emini futures have slowly retraced back down to the mid-point of the prior volatile up movement
[13:05:51] <wrbtrader> Emini ES futures about 1 point above the S area of its most recent Up WRB Hidden GAP intervals
[13:06:26] <wrbtrader> that's a tolerable risk for me -1 point on a trade if wrong when a trade signal shows up
[13:11:05] <Tigerman____> take care all see next time
[13:11:05] <wrbtrader> Long Emini ES @ 2180.25 -> small size
[13:11:14] <wrbtrader> 5 contracts
[13:22:37] <wrbtrader> drifting back down
[13:22:39] <wrbtrader> :(
[13:23:33] <wrbtrader> Exited all Emini ES Long @ 2178.75 --> - 1.5
[13:23:46] <jkarn> wrbtrader, 2 min chart?
[13:24:11] <wrbtrader> Shorts Emini ES @ 2176.75 -> large size
[13:24:34] <wrbtrader> 10 contracts on the volatility spike after it broke down below the S area
[13:24:53] <wrbtrader> jkarn...3min chart
[13:25:23] <wrbtrader> not sure where this volatility came from
[13:28:55] <wrbtrader> Some on twitter are blaming today's volatility on Ryan Lochte :)
[13:30:23] <irza> lol
[13:30:49] <wrbtrader> My favorite Emini ES comment on stocktwits...
[13:31:13] <wrbtrader> "Feels like musical chairs, someone's gonna be missing a seat soon"
[13:32:22] <wrbtrader> Back to twitter...market is volatile today after a video surfaced out of Rio that shows Usain Bolt grinding on some girls butt at a Rio night club
[13:32:35] <wrbtrader> I saw the video...wow
[13:33:06] <wrbtrader> Usain has a girlfriend waiting back home...she must be waiting with a golf club like Tiger Woods ex-wife
[13:34:06] <wrbtrader> volatility slowed but its trying hard to get started again
[13:34:50] <wrbtrader> Covered all Emini ES Short @ 2176.75 --> 0
[13:44:41] <wrbtrader> Long Emini ES @ 2178.25 -> small size
[13:44:50] <wrbtrader> 5 contracts
[13:46:37] <wrbtrader> Musical chairs again
[13:46:55] <wrbtrader> Exited all Emini ES Long @ 2180.25 --> + 2
[13:49:27] <wrbtrader> Deep range trading day...good volatility within the Emini futures between the Highs and Lows
[13:56:58] <wrbtrader> Long Emini ES @ 2180.50 -> small size
[13:57:07] <wrbtrader> re-entry
[14:02:02] <wrbtrader> starting to feel like the recent losing trade from the same price area...
[14:02:17] <wrbtrader> It popped to 2180.75
[14:02:27] <wrbtrader> then it stalled and headed south after that
[14:03:48] <wrbtrader> Exited all Emini ES Long @ 2181.25 --> + 0.75
[14:11:29] <werner1> hi all
[14:13:04] <wrbtrader> Hi werner
[14:13:28] <werner1> :)
[14:27:41] <werner1> Shorts Emini NQ @ 4802.75
[14:27:52] <winmax60> short es@2179.75
[14:28:20] <werner1> es at the todays open
[14:29:04] <werner1> Covered all Emini NQ Short @ 4799.25 --> + 3.5
[14:29:11] <winmax60> exit @2177.75 +2
[14:30:22] <werner1> nice wm6
[15:13:38] <werner1> Long Emini NQ @ 4606.75
[15:17:22] <werner1> Exited all Emini NQ Long @ 4805.50 --> + 198.75
[15:18:08] <werner1> Shorts Emini NQ @ 4806.75
[15:18:27] <werner1> Covered all Emini NQ Short @ 4805.50 --> + 1.25
[15:18:55] <werner1> mm
[15:19:18] <werner1> Long Emini NQ @ 4806.75
[15:19:33] <werner1> Exited all Emini NQ Long @ 4805.50 --> - 1.25
[15:19:38] <werner1> ok
[15:25:07] <TradeSnake______> No trades for me today. Eminis seem to be really coiling today, making lower highs and higher lows. Wondering if we get a breakout into the close...
[15:26:34] <werner1> yep ..lets see
[15:27:46] <werner1> Long Emini NQ @ 4807.25
[15:28:51] <werner1> mm too early ??
[15:30:33] <werner1> Exited all Emini NQ Long @ 4807.00 --> - 0.25
[15:38:49] <werner1> Shorts Emini NQ @ 4805.25
[15:41:27] <werner1> Covered all Emini NQ Short @ 4806.00 --> - 0.75
[15:53:14] <wrbtrader> Too bad the VIX wasn't able to push above 13
[15:53:43] <wrbtrader> They gave us just enough volatility to give us hope that there will be more for the rest of the week
[15:53:50] <mtntrader____> Yeah, this market really died the last couple of hours.
[15:54:17] <wrbtrader> Hopefully there so that I can look forward to September trading session
[15:55:11] <wrbtrader> Long Emini ES @ 2160.25 -> small size
[15:55:17] <wrbtrader> 3 contracts
[15:55:18] <werner1> me too :)
[15:56:40] <werner1> mm ym
[15:57:37] <werner1> no synchro
[15:58:53] <wrbtrader> entry posted is incorrect...
[15:59:09] <wrbtrader> Long Emini ES @ 2180.25 -> small size
[15:59:55] <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. Risk warnings for trading @ http://www.thestrategylab.com/risk-warning.htm
[16:00:19] <werner1> ok ..see you tmr
[16:00:27] <wrbtrader> take care
[16:02:48] <wrbtrader> Exited all Emini ES Long @ 2181.25 --> + 1
[16:03:09] <wrbtrader> shallow WRB pt1 reached
[16:03:25] <wrbtrader> Take care all and see all tomorrow
[17:15:58] * Disconnected
Session Close: Mon Aug 22 17:15:58 2016

-------------------------

##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

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, racist, harassment, lies, hackers, pikers, trolls that's a distraction to members of our chat room, our forum or our website. Yet, the original logs are always maintain for security reasons and legal reasons if needed.

Review of TheStrategyLab

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)
Skype Messenger: kebec2002
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)
http://stocktwits.com/wrbtrader (24/7)


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