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 Post subject: January 27th Friday - Futures, Forex, Stocks and ETF
 Post Posted: Sat Feb 04, 2017 2:29 pm 
Trader / Forum Admin

Joined: Tue Dec 16, 2008 1:02 am
Posts: 3076
Location: Canada
Session Start: Fri Jan 27 09:20:09 2017
Session Ident: ##TheStrategyLab
[09:20:09] * Now talking in ##TheStrategyLab
[09:20:09] * 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'
[09:20:09] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[09:20:09] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:26:11] <wrbtrader> Good morning
[09:54:17] <wrbtrader> not much so far
[10:11:55] <wrbtrader> It was mentioned yesterday about Tigerman and the chat logs...
[10:12:07] <wrbtrader> What was it that I missed ?
[10:12:29] <wrbtrader> Is he still have data problems ?
[10:12:43] <wrbtrader> of platform problems ?
[10:13:28] <mtntrader____> He was just complaining that the market was untradable these days. Nothing to do with data or platform. Said he was going to look for a new market. ES just too bad in his opinion.
[10:14:06] <wrbtrader> Its been bad for a few years as discussed about 100 times in here with him
[10:14:37] <wrbtrader> There was a lot of talk about trading other markets...been talking about it for a few years
[10:15:54] <mtntrader____> Ha, well then nothing's changed. ;-)
[10:15:55] <wrbtrader> Emini ES is highly liquid for large size positions...some people get very use to that even though they are not trading size (more than a few contracts)
[10:16:59] <wrbtrader> On the good note...Emini TF is trading much better since the U.S. elections
[10:17:05] <wrbtrader> I didn't expect to see that
[10:19:09] <mtntrader____> Hmmm... I will have to start watching that. I dropped the TF recently. Was paying $117 per month and not using it. I can still get the chart on my TOS platform.
[10:26:34] <wrbtrader> I'm not sure if the improvement in the price action of Emini TF futures is due to the U.S. elections or the fact that ICE sold it back to the CME exchange were in prior the TF was the price action to be involved with
[10:27:33] <wrbtrader> Long Emini ES @ 2290.00 -> small size
[10:27:40] <wrbtrader> 5 contracts
[10:28:14] <mtntrader____> The sale back to the CME never went through did it? Last we spoke about that a few weeks ago, you were going to ask your broker about that.
[10:28:43] <wrbtrader> I don't know if it went through...I assumed it must have
[10:29:27] <wrbtrader> nobody talking about TF these days...not even at other online locations
[10:36:22] <mtntrader____> My broker still shows that the TF is on Nybot, which is ICE.
[10:49:20] <wrbtrader> Exited all Emini ES Long @ 2289.00 --> - 1
[11:11:42] <mtntrader____> I watch the NQ and the TF to get clues where the ES may be going. Today, they are going in different directions, and ES just floundering in the middle.
[11:26:39] <wrbtrader> Long Emini ES @ 2290.25 -> small size
[11:26:55] <wrbtrader> 5 contracts
[11:31:15] <wrbtrader> Emini ES futures struggling too much to find traction to the upside
[11:33:26] <mtntrader____> Yes, but crude is going a little nuts here. Must be news.
[13:19:47] <wrbtrader> I believe D. Trump and U.K. prime minister Theresa May are meeting now
[13:23:15] <mtntrader____> Yes, I am watching now.
[13:30:59] <wrbtrader> Huge difference again in the price movement in the Emini futures...
[13:31:38] <wrbtrader> Emini TF futures roaring higher and others are being left behind
[13:32:12] <wrbtrader> Everytime I see that...I consistent think there's data problems :(
[13:33:25] <mtntrader____> Yes, but the TF is just trying to catch up. The NQ has been much higher all day.
[13:39:54] <mtntrader____> Are you still in a trade on the ES, wrbtrader?
[13:45:48] <wrbtrader> Yes
[13:46:02] <wrbtrader> The volatility differences are growing today
[13:46:34] <wrbtrader> This has been a consistent issue I've notice for a few years now...
[13:47:06] <wrbtrader> Sort'uv gotten use to it but the differences is still amazing on many trading days
[13:49:18] <mtntrader____> On low vol days like today, I wonder why sitting in front of these screens is worth my time.
[13:49:44] <wrbtrader> Its only worth if you're in a trade.
[13:50:04] <wrbtrader> If not in a trade...doesn't make sense to sit in front of the screen all day
[13:50:26] <mtntrader____> Boy, you have been patient with the one you're in now.
[13:50:56] <wrbtrader> Patience forced on me by the market via Emini ES low volatility tight trading range
[13:51:17] <wrbtrader> Its a small trade too
[13:51:34] <mtntrader____> Speaking of low vol times, are you still thinking of taking the summer off?
[13:51:37] <wrbtrader> A loss is a no biggie
[13:52:46] <wrbtrader> Yes, this summer I'm planning to not trade but I may trade if I see the volatility return just before the vacation times
[13:53:29] <wrbtrader> Also, I'm planning to "test" co-working this summer because I really want to move back to an office like work environment
[13:53:39] <mtntrader____> So not going to France for the summer?
[13:53:53] <wrbtrader> I can't do both...co-working and not trading
[13:53:56] <mtntrader____> Maybe you've seen all of France that you care to.
[13:54:16] <wrbtrader> If I do co-working...I will trade
[13:54:18] <mtntrader____> ;-)
[13:55:40] <wrbtrader> Today I'm watching the Advance Decline lines of NYSE, Nasdaq, AMEX and S&P...
[13:55:47] <wrbtrader> Scary...no correlations
[13:56:29] <wrbtrader> Its like each indices doesn't no the other exists
[13:57:51] <wrbtrader> The last 5 presidential elections...similar like poor correlations
[13:58:59] <wrbtrader> Its like the market is confused and something eventually snaps
[13:59:28] <wrbtrader> Then it rebounds and record prices happen
[14:00:00] <mtntrader____> Yes, very strange.
[14:00:31] <wrbtrader> We've already had record breaking Dow but there the poor correlations were already there for a few years now
[14:01:08] <mtntrader____> Well, we have Nadal and Federer in the Australian Open finals to look forward to.
[14:08:52] <wrbtrader> I also notice since the elections...less traders are talking about actually trading
[14:09:16] <mtntrader____> Hmmm.. interesting.
[14:09:24] <wrbtrader> Its almost as if the world has decided to do something else since the elections
[14:10:35] <wrbtrader> Three of the most active traders at forums that I know have notified me they have not put on a trade since the elections...they think the price action just sucks
[14:11:02] <wrbtrader> These are people that has only missed a few trading days per year for the past several years
[14:12:17] <mtntrader____> That is why I have been looking to gold and crude futures. A lot more movement to trade.
[15:18:34] <wrbtrader> In the past, the solution for me was to trade multiple different markets at the same time
[15:19:10] <wrbtrader> That way if one trade was stuck in a low volatility tight trading range...the other trades easily compensated.
[15:19:32] <wrbtrader> Problem is that I"m not young anymore and don't have the patience nor energy to do that
[15:20:06] <wrbtrader> In here I use to be in trades at the same time in the DAX, TF, EuroFX and Bonds
[15:20:49] <mtntrader____> But if you locate in an office, you will have nothing else to do. I thought that was the idea.
[15:21:05] <wrbtrader> Then when I switch to ES I basically got rid of the others but I didn't have the mentallity to be able to trade so many different markets
[15:21:30] <wrbtrader> The office has one purpose, make life itself easier
[15:23:08] <mtntrader____> I think that to trade the european markets, especially the DAX, properly, you need to be starting during the best part of their session, which is 3:00 am EST.
[15:27:42] <wrbtrader> Yep
[15:28:03] <wrbtrader> Emini NQ just broke below its support
[15:52:56] <mtntrader____> Looks like it wants to bounce here. But you may run out of time.
[15:54:12] <wrbtrader> agree
[15:55:11] <mtntrader____> If I see Houdini, I'll send him your way.
[15:56:41] <wrbtrader> I only want to take a few trades per day for the days I trade and to have one of those trades to be a long hold for the day
[15:56:59] <wrbtrader> I got that today but not the results i wanted but that's ok
[15:57:14] <wrbtrader> No biggie
[15:58:05] <wrbtrader> Today was a bad day for the correlations in the Eminis...actually a little scary how bad it was especially during the Trump/May meeting
[15:58:56] <wrbtrader> I'll be more careful next time in a trade (will stay on the sidelines) during any of Trump's planned meetings during the market day with leaders of other countries
[15:59:06] <wrbtrader> Market watches him too much
[15:59:57] <mtntrader____> The problem with that is that he's in the news several times each day with statements, meetings or tweets.
[16:08:09] <wrbtrader> I also notice more contracts trade in the 4pm trading session but with less volatility (less price movement) since the elections
[16:08:46] <wrbtrader> for the Emini ES futures in comparison to the others
[16:09:08] <mtntrader____> Agree, the volatility sucks lately.
[16:10:29] <wrbtrader> In addition, the ability to push size in the Emini TF futures would be very difficulty unless one is willing to see their trade order split with different fills
[16:11:47] <mtntrader____> The most I've done in TF is 10 contracts. No problem with split fills at that level.
[16:12:16] <wrbtrader> Same here in the past but not sure about the 4pm est rush hour traffic
[16:12:39] <mtntrader____> Hmmmm.... good point.
[16:14:23] <wrbtrader> Exited all Emini ES Long @ 2289.25 --> - 1
[16:15:37] <mtntrader____> Have a good weekend.
[16:15:51] <wrbtrader> You too
[16:16:00] <wrbtrader> Take care all and have a good weekend
Session Close: Sat Jan 28 00:00:00 2017

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