##TheStrategyLab Price Action Chat Room Logs

Price Action Trading (no technical indicators)
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##TheStrategyLab primary purpose is for you to post your WRB Analysis, post your price action analysis, ask real-time questions about WRB Analysis or post your real-time trades in a timestamp environment...the free chat room is a trade journal of your trading day (thoughts and trades). In fact, if you think the only feedback you need is your broker statements...the free chat room will be a waste of your time and you will increase the odds of failing at trading.

The free chat room is located on the Freenode IRC network along with being a serious professional trading chat room for traders that want to talk about your use of 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) merged with your trade methods to improve the performance of their trade methods regardless if you're a position trader, swing trader or day trader. Therefore, you're welcome to use the free 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 because the business model for such isn't suitable for helping traders to succeed as independent traders. 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. Once again, the purpose of the free 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 thoughts and how you interacted with the markets 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. You can then request a private thread for you to share the professional journal analysis of your trading with us for us to review. 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.


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

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

Session Start: Fri Jun 02 09:32:29 2017
Session Ident: ##TheStrategyLab
[09:32:30] * Now talking in ##TheStrategyLab
[09:32:30] * Topic is 'Chat room for traders that are using concepts from WRB Analysis to help improve their entry signals, initial stop/loss management, profitable trail stops or profit targets. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... 119&t=718'
[09:32:30] * Set by wrbtrader on Fri Dec 26 09:39:03 2014
[09:32:30] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:33:17] <werner1> Long Emini NQ @ 5836.00
[09:35:12] <werner1> Exited all Emini NQ Long @ 5839.75 --> + 3.75
[09:35:26] <werner1> wrb pt 1 2 min
[09:37:16] <wrbtrader> VIX below 10
[09:37:18] <wrbtrader>
[09:37:55] <wrbtrader> I was hoping after the last two trading days it in the Index futures that the VIX would pop back above 13
[09:38:26] <werner1>
[09:38:30] <wrbtrader> This is that manipulation so many professionals have talked about (many articles the past few months)
[09:40:05] <wrbtrader> Shorts Emini ES @ 2429.50 -> large size
[09:40:18] <wrbtrader> 10 contracts
[09:40:59] <wrbtrader> Trading in the range of the prior long lower shadow intervals
[09:40:59] <werner1> how is it posible to manupulate the es ....so much volume??
[09:41:18] <wrbtrader> They're doing it via options
[09:42:04] <werner1> aha ok you said taht a few days ago indd
[09:42:56] <wrbtrader> Yeah...whenever I come across an article with a different way of explaining it...I've been posting the direct links to those articles
[09:43:32] <werner1> tx
[09:44:26] <wrbtrader> Covered all Emini ES Short @ 2430.00 --> - 0.5
[09:44:37] <wrbtrader> early exit
[09:44:47] <wrbtrader> not a stop hit
[09:45:19] <wrbtrader> Shorts Emini ES @ 2429.50 -> large size
[09:45:27] <wrbtrader> re-entry
[09:45:37] <wrbtrader> My patience is low today
[09:48:26] <wrbtrader> Covered all Emini ES Short @ 2430.00 --> - 0.5
[09:48:31] <wrbtrader> trail hit
[09:48:49] <wrbtrader> Also, hit as a long lower shadow interval
[09:49:21] <wrbtrader> Shorts Emini ES @ 2429.50 -> large size
[09:49:27] <wrbtrader> re-entry
[09:55:04] <wrbtrader> Covered all Emini ES Short @ 2429.00 --> + 0.5
[09:55:52] <wrbtrader> Crude Oil WTI futures in a nice up movement...producing an Up WRB Hidden Gap interval
[09:56:44] <wrbtrader> Emini ES futures back to the 2428.00
[09:57:09] <wrbtrader> Shorts Emini ES @ 2428.00 -> large size
[09:57:21] <wrbtrader> re-entry
[09:57:46] <wrbtrader> Emini ES futures now below the low of those prior long lower shadow intervals
[09:59:18] <wrbtrader> The long shadow intervals are tough...they've been showing up with every push down
[09:59:35] <wrbtrader> Goes down and then quickly back upwards
[09:59:50] <wrbtrader> producing the long lower shadows
[10:01:49] <wrbtrader> Covered all Emini ES Short @ 2429.50 --> - 1.5
[10:02:28] <wrbtrader> Its like 3 steps down and then a quick 2 steps back up...then 3 steps down and a quick 2 stemps back up again
[10:03:58] <Tigerman______>
[10:04:07] <Tigerman______> lg nq 5837
[10:04:34] <Tigerman______> exit 2/3 @ 38.25
[10:04:43] <Tigerman______> +5tk
[10:05:28] <werner1> tigerman
[10:06:24] <Tigerman______> exit rem @ 38.50 +6tk
[10:06:33] <Tigerman______> slow action
[10:06:44] <Tigerman______> no others news in calendar
[10:06:47] <Tigerman______> hi werner
[10:07:05] <Tigerman______> Nq around open
[10:07:24] <werner1> yep
[10:07:57] <wrbtrader> Shorts Emini ES @ 2429.50 -> large size
[10:08:07] <wrbtrader> re-entry
[10:08:32] <wrbtrader> I'm still tradng in the range of those long lower shadow intervals
[10:09:23] <Tigerman______> are you in 1min chart wrbtrader
[10:09:39] <wrbtrader> 2min, 3min and 5min
[10:10:33] <Tigerman______> ok because I see a resistance in contracting vola in 1min Spu
[10:10:47] <Tigerman______> spy
[10:11:28] <Tigerman______> Nq seems doing superman things vs others
[10:11:39] <wrbtrader> agree
[10:12:08] <Tigerman______> his volatility a bit better and more directional Vs Es
[10:12:23] <werner1> agree
[10:12:26] <Tigerman______> less liquidity
[10:12:45] <Tigerman______> mid July we welcome back rus2000 on Cme
[10:14:19] <wrbtrader> Emini ES price checks...I'm getting strange quotes
[10:14:28] <wrbtrader> 2429.50
[10:14:41] <wrbtrader> 2429.75
[10:14:54] <Tigerman______> 2428
[10:14:55] <wrbtrader> 2429.25
[10:15:00] <Tigerman______> 2429.25
[10:15:03] <Tigerman______> 2429
[10:15:12] <wrbtrader> 2429.00
[10:15:13] <Tigerman______> 2429
[10:15:21] <wrbtrader> 2430.25
[10:15:27] <wrbtrader> weird quote
[10:15:28] <Tigerman______> seems same me
[10:15:37] <wrbtrader> 2429.50
[10:15:46] <Tigerman______> 2430.25 NOT in my charts
[10:15:53] <wrbtrader> 2429.25
[10:16:03] <wrbtrader> 2429.75
[10:16:05] <Tigerman______> now 2429.75
[10:16:24] <Tigerman______> 2429.75
[10:16:37] <wrbtrader> ok...thanks
[10:16:43] <wrbtrader> 2430.00
[10:17:20] <Tigerman______> I need Nq a bit lower to try a long
[10:17:57] <Tigerman______> now testing resist from most recent up Wrb hg 1min
[10:18:44] <Tigerman______> VIX 9.93
[10:18:51] <Tigerman______> low low
[10:19:10] <wrbtrader> I have 10.01
[10:19:33] <wrbtrader> still low after two days of decent price movements
[10:19:57] <Tigerman______> ok we know every vendoe has own propietary quotes
[10:20:17] <wrbtrader> Covered all Emini ES Short @ 2429.25 --> + 0.25
[10:20:56] <wrbtrader> I hit this price area very aggressively
[10:21:03] <wrbtrader> Price just wouldn't break down
[10:21:43] <Tigerman______> ES action from open is vey ugly !!!!!!!!!!!!!!
[10:22:23] <Tigerman______> lg Nq 5844
[10:23:48] <Tigerman______> exit all @ 43.25 -3tk
[10:26:35] <Tigerman______> price inside that Wrb hg I mentioned before
[10:27:00] <Tigerman______> lg Nq 5845
[10:27:07] <Tigerman______> need to be fast
[10:27:28] <Tigerman______> exit 2/3 @ 46 +4 tk
[10:28:03] <Tigerman______> exit rem @ 45.25 +1t
[10:28:22] <Tigerman______> low vola last time maybe is better exit all in one time
[10:28:45] <Tigerman______> lg Nq 45.25
[10:30:02] <Tigerman______> exit all @ 46.50 +6tk
[10:30:20] <Tigerman______> last trade entry was intuition via T&S
[10:34:55] <werner1> Long Emini NQ @ 5843.75
[10:39:31] <werner1> pfff
[10:40:28] <Tigerman______> we are at high level in Nq
[10:40:42] <Tigerman______> this can be last time here
[10:40:56] <Tigerman______> I mean a Big sell off can occur
[10:42:14] <werner1> tx
[10:46:13] <werner1> Exited all Emini NQ Long @ 5844.75 --> + 1
[10:47:22] <werner1> Shorts Emini NQ @ 5844.00
[10:49:00] <Tigerman______> lg nq 44.50
[10:50:00] <werner1> Covered all Emini NQ Short @ 5846.00 --> - 2
[10:50:23] <werner1> Long Emini NQ @ 5846.75
[10:50:26] <Tigerman______> exit 2/3 48.50 +16tk
[10:51:22] <Tigerman______> exit rem @ 47 +10tk
[10:54:45] <werner1> Exited all Emini NQ Long @ 5848.75 --> + 2
[11:06:59] <werner1> sofar +4.75
[11:10:48] <Tigerman______> lg nq 49.50
[11:15:51] <Tigerman______> exit 2/3 50.50 +4 tk
[11:16:04] <Tigerman______> tought trade
[11:16:14] <Tigerman______> based on 5min chart
[11:19:14] <Tigerman______> exit all rem @ 5853 +14 tk
[11:20:08] <werner1> vn
[11:20:09] <Tigerman______> wrb pt1 reach in 5min
[11:20:15] <Tigerman______> thanks
[11:20:38] <Tigerman______> I avoid 5min chart and above
[11:20:51] <Tigerman______> because is difficult manage it x me
[11:21:02] <Tigerman______> and need lot of patience
[11:23:52] <werner1> yep ,,,but i see not a wrb a wrb pt1 at the 5 min ...but np...exit is very good
[11:27:16] <Tigerman______> hi werner I was out of room to drink a fruit juice
[11:27:27] <Tigerman______> and concrat to myself :9
[11:27:40] <werner1> top
[11:27:45] <Tigerman______> yeah it ws a 5min pt1 in my 5min chart Nq
[11:28:09] <Tigerman______> 11:20 close
[11:28:14] <werner1> all ses
[11:28:19] <werner1> or .d
[11:28:24] <Tigerman______> then that interval retraced
[11:28:44] <Tigerman______> 11:20 NY time
[11:28:55] <werner1> np
[11:29:16] <werner1>
[11:29:28] <Tigerman______> and nq continue
[11:29:38] <werner1> yep
[11:30:33] <Tigerman______> btw my exit was helped via a pt2 in my 1min chart
[11:30:54] <Tigerman______> difficult trade testing my patience
[11:31:57] <werner1> here also
[11:33:19] <werner1> Long Emini NQ @ 5854.75
[11:35:13] <werner1> Exited all Emini NQ Long @ 5856.25 --> + 1.5
[11:35:32] <werner1> wrb pt 1 2 min
[11:36:07] <Tigerman______> yeah
[11:36:56] <werner1> sofar 6.25
[11:37:23] <werner1> need 4 more points for today
[11:38:33] <werner1> pff
[11:39:40] <werner1> nq higher and higher
[11:40:05] <Tigerman______> lg nq 5859
[11:40:23] <werner1> dont think ....
[11:40:46] <Tigerman______> exit 2/3 59.25 +1t
[11:44:54] <Tigerman______> exit all rem @ 5863 +16 tk
[11:45:08] <werner1> vn again
[11:45:32] <Tigerman______> thnaks again
[11:45:57] <Tigerman______> I planned to finish my trading
[11:46:02] <werner1> with the trend...top
[11:46:12] <Tigerman______> after trade before
[11:46:23] <Tigerman______> no good zones above
[11:47:00] <Tigerman______> then see trending higher and look at different nasdaq stocks
[11:47:10] <Tigerman______> so ok i give it a try
[11:47:25] <wrbtrader> Long Emini ES @ 2435.50 -> large size
[11:47:44] <wrbtrader> 10 contracts
[11:50:28] <Tigerman______> hi wrbtrader good see you ... not sure if you fall asleep after that ugly price action in ES before
[11:56:45] <Zetaone1> have a good weekend everyone
[11:56:58] <werner1> dito
[11:59:11] <wrbtrader> Exited 1/2 Emini ES Long @ 2436.25 --> + 0.75
[11:59:31] <wrbtrader> Exited Remainder Emini ES Long @ 2436.25 --> + 0.75
[12:08:08] <werner1>
[12:17:59] <wrbtrader> It's like a tease...so near the intraday highs of the day but it can't find any volatility to take it out
[12:18:16] <wrbtrader> I'm getting blue balls
[12:30:49] <werner1> evrye day stockmarket higher...dont fight trump
[12:31:32] <werner1> the mARKET ISSSSSS
[12:33:02] <werner1> do not tink ...go with the flow
[12:33:13] <werner1> think
[12:34:32] <werner1> and look at the charts
[12:43:19] <werner1> sofar i take a break
[12:43:34] <werner1> ...laters
[12:45:40] <Tigerman______> take care all have a safe weekend see all next week
[12:45:46] <werner1>
[12:58:05] <wrbtrader> A lot of contracting volatility right now in the Emini futures
[12:59:11] <wrbtrader> Emini ES futures not able to take out the reaction highs today of 0700am est
[13:41:41] <wrbtrader> Finally a breakout of that reaction high of 0700am est
[14:28:14] <Donnin______> all my entries will precede a running market
[14:28:36] <Donnin______> so they will all be based on pull backs
[15:36:40] <wrbtrader> Pullbacks have been shallow today and enduring
[15:37:19] <wrbtrader> Long Emini ES @ 2439.25 -> large size
[15:37:29] <Donnin______> yeah
[15:40:24] <wrbtrader> Gotta have a lot of patience
[15:46:47] <Donnin______> yeah i will trade only 4-8 times a year
[15:50:18] <wrbtrader> 4 - 8 trades as day trades
[15:50:45] <Donnin______> no the whole year
[15:51:03] <wrbtrader> Correct...the whole year as day trades
[15:51:08] <wrbtrader>
[15:51:20] <Donnin______> yes day trades
[15:51:46] <wrbtrader> How will you know which day trades to take
[15:52:14] <wrbtrader> I get about 4 signals per day
[15:52:25] <wrbtrader> on low volatility days
[15:52:41] <wrbtrader> 6 - 8 signals on high volatility days
[15:53:20] <wrbtrader> I wouldn't know which one to take if I only allowed myself to take 4 -8 trades the entire year
[15:53:43] <Donnin______> its going to be all i need if the ones i select do what i need for it to
[15:54:04] <Donnin______> yeah that been the fustrating part
[15:54:47] <wrbtrader> How many trades per year are you doing now
[15:56:42] <wrbtrader> Exited all Emini ES Long @ 2436.50 --> - 2.75
[15:57:10] <Donnin______> the only way this works is creating a great filter and having a sold s/r
[15:57:35] <Donnin______> right now im still in hindsight phase
[15:58:10] <wrbtrader> Even in hindsight...you gotta to already know how many trade signals you're getting per year.
[15:58:41] <wrbtrader> Or how many per month or per week or per day
[15:59:24] <Donnin______> i would say 4 per month with sold s/r and with exact entry
[15:59:43] <wrbtrader> What time frames are you using
[16:00:26] <wrbtrader> Long Emini ES @ 2437.50 -> large size
[16:00:44] <wrbtrader> scaled in
[16:00:46] <Donnin______> 1000 tick
[16:01:01] <wrbtrader> That's a scalper time frame
[16:01:36] <wrbtrader> 4 - 8 trades per year is swing trading or position trading
[16:02:37] <wrbtrader> I have a client using tick time frames like that...he's a scalper
[16:02:37] <werner1> Exact entrys do not exist
[16:02:48] <Donnin______> well that the frustrating part of pruning though in and out that time frame
[16:03:00] <wrbtrader> Probably about 10 - 20 trades per week
[16:03:01] <Donnin______> ive had to start over many times
[16:04:00] <Donnin______> when i say exact enties
[16:04:04] <wrbtrader> He mainly trades FED, ECB, IMF news, speaches and decisions
[16:04:26] <Donnin______> i just mean what i define as where i should be in
[16:04:54] <Donnin______> thats amazing
[16:05:58] <Donnin______> im sure he could filter about 5 to 10 of those out a week
[16:06:16] <wrbtrader> Exited all Emini ES Long @ 2437.00 --> - 0.5
[16:06:27] <wrbtrader> I don't know if he can or not
[16:06:47] <Donnin______> when you stare long enough lol
[16:07:01] <wrbtrader> Usually scalpers don't filter
[16:07:26] <werner1> i stare 20 years
[16:07:43] <wrbtrader> They're mainly using statistical analysis and try to take every trade they see and then let there statistics work for them
[16:07:46] <Donnin______> jesus
[16:08:06] <werner1> day in day out
[16:08:11] <wrbtrader> That's a tought thing about trading...
[16:08:39] <wrbtrader> If you miss a day here and there for whatever reasons (e.g. illness, appointments, vacations or whatever)...
[16:08:59] <wrbtrader> It impacts your statistics and performance
[16:09:06] <wrbtrader> For example...
[16:09:44] <wrbtrader> I have 4 - 5 good trading days per month when...usually when volatility shows up
[16:10:13] <wrbtrader> When I see that volatility has shown up...statistically...I got to trade larger
[16:10:22] <wrbtrader> Larger position sizes
[16:10:29] <wrbtrader> than I normally do
[16:11:11] <wrbtrader> If I miss one of those trading days...it will impact my monthly trading results
[16:11:12] <Donnin______> right
[16:11:33] <werner1> agree wrb
[16:11:56] <werner1> thats trading
[16:12:06] <Donnin______> thats as tough as trading is in itself
[16:12:11] <wrbtrader> I just cross my finger that the day I miss (no trading)...its not one of those high volatility days where I could have been trading 3 - 5 times larger position sizes
[16:12:50] <wrbtrader> Thus, I try to use position size in my favor
[16:13:00] <wrbtrader> Doesn't work every time but most of the time it works
[16:13:09] <wrbtrader> I've been doing that for about 15 years
[16:13:20] <Donnin______> right i see when you go large size ect
[16:13:47] <wrbtrader> Actually...I'm only at the low side of a large = 10 contracts
[16:13:49] <Donnin______> thats trading on another level lol
[16:14:24] <wrbtrader> I normally trade about 30 contracts on high volatility trading days that's overall low volatility
[16:14:31] <wrbtrader> Those 4 - 5 days per month
[16:15:00] <wrbtrader> In high volatility market conditions...I'm easily 30 - 40 contracts on a large position size
[16:15:27] <wrbtrader> That's why my January are my biggest trading months of the years
[16:15:40] <wrbtrader> sometimes it drags into February too
[16:15:58] <wrbtrader> Another way to look at it...
[16:16:11] <wrbtrader> I technically could only trade two months every year...
[16:16:16] <wrbtrader> January and February
[16:16:52] <wrbtrader> Yet, like all statistics...its not perfect
[16:17:11] <wrbtrader> There's those abnormalities
[16:17:44] <wrbtrader> For example...my illness was a big factor in my trading results since last September
[16:18:08] <wrbtrader> Bundle that with the fact that the market had a unsual low volatility January
[16:18:21] <wrbtrader> I was basically sidelined...horrible volatility
[16:18:37] <wrbtrader> I haven't see that for about 10 - 12 years
[16:18:53] <wrbtrader> Funny thing is this...
[16:19:03] <wrbtrader> I was talking about it last summer
[16:19:09] <wrbtrader> A lot in here
[16:19:36] <wrbtrader> Market volatility was declining and the stats were not working right anymore...
[16:19:53] <wrbtrader> I started talking about taking the summer off from trading
[16:20:28] <wrbtrader> I talked a lot about it last year going into September
[16:20:44] <wrbtrader> Then I got sick
[16:21:12] <wrbtrader> Last year...I just didn't trust the pending 2017
[16:22:19] <Donnin______> do you still ned to trade
[16:22:23] <wrbtrader> Yet, studing hindsight 2017 charts its the worst way to prepare for 2018, 2019 and 2020
[16:22:34] <wrbtrader> I don't need to trade
[16:22:54] <wrbtrader> I only trade to better document what I'm experiencing from the markets
[16:23:20] <wrbtrader> Like my thoughts and feeling last year...
[16:23:35] <wrbtrader> I think 2017 is a critical year for the markets and volatility
[16:23:49] <Donnin______> why would using this year be horrible in preparation
[16:23:49] <wrbtrader> I think we're going to break some records for lows
[16:24:27] <wrbtrader> Not horrible preparation...I didn't say that
[16:24:54] <Donnin______> or hindsight
[16:24:59] <wrbtrader> I'm saying this is the perfect year for studying low volateility markets...less trades
[16:25:14] <Donnin______> oh i see
[16:25:56] <wrbtrader> This market is going to keep making record highs in prices while making record lows in volatility
[16:26:20] <wrbtrader> Its been a market for options traders and long term holders
[16:26:46] <wrbtrader> Easy to say in hindsight
[16:27:11] <wrbtrader> Yet, I started warning about this several years ago in the chat room
[16:27:35] <wrbtrader> A market that keeps going up but the volatility is so crappy...very difficult for day traders
[16:27:50] <wrbtrader> Difficult for swing traders too
[16:28:18] <wrbtrader> In contrast, long term traders (folks using weekly or monthly charts)...they're doing well
[16:30:39] <werner1> thanks fot the info wrb ...gn all see you next week
[16:37:22] <Donnin______> what year should one study to prepar for real voltility
[16:43:14] <wrbtrader> Just a minute...
[16:48:43] <wrbtrader> Every year
[16:49:04] <wrbtrader> I don't know if you've been documenting (trade journal of your thoughts
[16:49:20] <wrbtrader> Some people just print out their trades and nothing else
[16:49:31] <Donnin______> right
[16:49:42] <wrbtrader> Meaning...they only have brokerage statements and nothing else
[16:49:47] <wrbtrader> That's a BIG mistake
[16:49:58] <Donnin______> you need to know ur mental state as well
[16:50:26] <wrbtrader> They must document the day...what happen in the markets that day and what they were thinking while they were trading
[16:50:34] <wrbtrader> That's why I talk a lot in here
[16:50:43] <wrbtrader> Its my way of documenting part of my day
[16:51:13] <Donnin______> i see
[16:51:18] <wrbtrader> I also post those "summaries" at the free forum that I get from bloomberg, Yahoo, marketwatch or whatever
[16:51:34] <Donnin______> how can be of any value
[16:51:38] <wrbtrader> I can go back to any trading year back to 1998
[16:51:50] <wrbtrader> Thats when I begin documenting my trading day
[16:51:53] <Donnin______> of someone elses summaries
[16:52:11] <wrbtrader> I know exactly what happen on ANY trading day since 1998
[16:52:32] <wrbtrader> I know it via reading my personal trade journal
[16:52:33] <Donnin______> i see
[16:52:36] <wrbtrader> Its like a diary
[16:53:00] <Donnin______> so you dont actually read it
[16:53:04] <wrbtrader> Its great for doing statistical analysis on strange stuff
[16:53:15] <wrbtrader> I'm always "researching" it
[16:53:28] <wrbtrader> For example...
[16:54:08] <wrbtrader> When Bill Clinton was president...the FED use to do those "surprise rate cut announcements during the trading day"
[16:54:25] <wrbtrader> Many traders didn't have experience with that
[16:54:29] <wrbtrader> I did
[16:54:51] <wrbtrader> I researched my notes about the prior U.S. Presidents that allowed the FED to do that
[16:55:15] <wrbtrader> Actually, it was my old man's notes
[16:55:21] <wrbtrader> He was a floor trader
[16:55:50] <wrbtrader> That's where I learned the importance of documenting our trading day besides just brokerage statements
[16:56:03] <wrbtrader> Anyways...back to the FED rate announcements...
[16:56:34] <wrbtrader> I learned to put on a very large position in the direction of those "surprise announcements"
[16:57:25] <wrbtrader> S&P 500 would quickly move 20 - 50 points in a matter of a few minutes
[16:57:56] <wrbtrader> I would just hold the position and start scaling out at +30 points in the Emini ES
[16:58:13] <wrbtrader> It wasn't even technical analysis
[16:58:32] <wrbtrader> I was just knowing what the markets does in those specific strange situations
[16:59:21] <wrbtrader> I'm sure you've notice since President Bush...we stopped getting those "surprise FED rate announcements"
[16:59:25] <wrbtrader>
[16:59:54] <wrbtrader> He stopped from ever happening again
[17:00:13] <wrbtrader> FED now only does the schedule rate announcement
[17:00:24] <wrbtrader> No more surprise rate announcements
[17:00:44] <Donnin______> yeah true
[17:01:10] <wrbtrader> I never knew the reason why they were doing those "surprise" rate announcements in the first place
[17:01:42] <wrbtrader> They only did it in the market during the "busiest" trading period of the morning...soon after the opening bell
[17:01:52] <wrbtrader> It was weird and crazy
[17:02:03] <wrbtrader> Volatility was so high...it was off the map
[17:02:46] <wrbtrader> Traders got mad when Bush ended those type of announcements
[17:02:49] <Donnin______> intresting so it was done on purpose
[17:02:54] <wrbtrader> Yes
[17:03:14] <wrbtrader> Planned and strategic
[17:03:41] <wrbtrader> This is when a lot of people really started not trusting the FED
[17:04:31] <wrbtrader> People felt they were like a mafia boss...working with the banks bosses, trading firm bosses and so on
[17:04:45] <wrbtrader> It was scary times to be trading
[17:04:54] <wrbtrader> Especially in the morning
[17:05:29] <wrbtrader> You put on a trade and you just were sure if there was going to be a "surprise rate announcement"
[17:05:54] <Donnin______> yeeah definitely scary
[17:05:55] <wrbtrader> Lots of people said...make sure you put your stops in
[17:06:03] <wrbtrader> Most of the time that didn't work
[17:06:26] <wrbtrader> The surprise announcement would cause the market to jump the stops
[17:07:13] <wrbtrader> I remember one announcement...between two consecutive ticks...there was a 6 point difference in the S&P 500
[17:08:01] <wrbtrader> Any stops within that 6 point range...they were skipped over via the very next tick (trade)
[17:08:23] <Donnin______> right
[17:08:28] <wrbtrader> The point I'm making...this isn't technical analysis
[17:09:16] <wrbtrader> This is using your "trading diary" to document every trading day so that when strange things happen...you can look them up to see if this has happen before and how the markets reacted to it
[17:09:18] <Donnin______> like i keep saying i was never meant to di this
[17:09:47] <Donnin______> im determined to get myself out of lose
[17:10:10] <Donnin______> losses ive incurred and im done for the most part
[17:10:40] <Donnin______> maybe i may continue after
[17:10:54] <Donnin______> but thats a small maybe
[17:11:08] <wrbtrader> I'm slowly coming to the conclusion that trading is becoming more and more for rich people or for those that can lose a lot of money and just don't care because it will have no impact on their lifestyle
[17:11:19] <Donnin______> lol
[17:11:35] <Donnin______> yeah if u made a boat load be happy
[17:11:36] <wrbtrader> Its like F1 race driving
[17:11:44] <wrbtrader> Only the rich are involved with that
[17:11:45] <Donnin______> and retire or somthing
[17:12:40] <wrbtrader> Its like going to a Stanley Cup Hockey game or NBA title game...
[17:12:47] <wrbtrader> Only the rich are courtside
[17:12:53] <wrbtrader> Rich or Famous
[17:13:04] <Donnin______> this is game for big big people
[17:13:40] <Donnin______> to have peace of mind that is
[17:14:34] <wrbtrader> I'm from the old crew...I know what's possible but I also know the reality of today's markets
[17:15:24] <wrbtrader> I see a scary difference between the yesterday's (years ago) markets versus 2017...a scary difference
[17:15:55] <wrbtrader> If I had a crystal ball and knew which specific 4 - 5 trading days per month to trade when that volatility showed up...
[17:16:18] <wrbtrader> I would load the boat...my position size would be 50 - 100 contract trades
[17:16:57] <wrbtrader> We had one guy in here that traded like that
[17:17:16] <wrbtrader> I would ask him how did he know which days to show up on the chat room and trade
[17:17:17] <Donnin______> how did he do
[17:17:23] <wrbtrader> He did great
[17:18:33] <wrbtrader> He was an airlines pilot out of Israel
[17:18:52] <Donnin______> so how did he figure the days
[17:18:56] <wrbtrader> another was a retired fireman out of Arizona
[17:19:11] <wrbtrader> User names Jazzlife and Amt
[17:19:49] <wrbtrader> The Amt guy was on ET...nobody believed him until one day he did live video for anybody to watch
[17:20:06] <Donnin______> et?
[17:20:12] <wrbtrader> He did it once...everybody got quiet and he never did it again
[17:20:19] <wrbtrader> Yeah...Elitetrader.com
[17:20:25] <wrbtrader> I just call it ET
[17:20:38] <Donnin______> so he went live with 100 contracts
[17:20:42] <wrbtrader> http://www.elitetrader.com
[17:20:55] <wrbtrader> Usually he'll scale in...
[17:21:07] <Donnin______> https://www.youtube.com/watch?v=dZdO7Q5Sclg
[17:21:15] <Donnin______> this guy?
[17:21:30] <wrbtrader> 50 - 100 contracts each scale in
[17:21:36] <Donnin______> i see
[17:21:38] <wrbtrader> Just a second...let me see
[17:22:18] <wrbtrader> NO
[17:22:36] <wrbtrader> That guy is a vendor or was a vendor
[17:22:41] <wrbtrader> Amt was not a vendor
[17:23:16] <Donnin______> oh
[17:23:33] <wrbtrader> He was a former professional trader from Credit Suisse
[17:23:53] <wrbtrader> He was very negative on vendors, prop firms and stuff
[17:24:28] <wrbtrader> Just some guy that save up his money from a high paying job and decided he can do better on his own
[17:24:53] <Donnin______> right
[17:25:47] <wrbtrader> He would get killed in today's market
[17:26:13] <wrbtrader> He was dependent upon volatility...at least anything above 15
[17:26:29] <Donnin______> i see
[17:26:42] <wrbtrader> Also, he predicted today's type of markets would come
[17:27:04] <wrbtrader> That was back just before the financial crisis
[17:27:24] <wrbtrader> He use to say after a big global crisis...the markets will be dead
[17:27:31] <Donnin______> lol
[17:27:48] <wrbtrader> I use to tease him in here because he acted like some "doomsday "
[17:28:03] <wrbtrader> Those people that predict when the planet will explode or whatever
[17:28:57] <wrbtrader> Those people that move to the dessert...pray to the sky and shed all their earthly possessions
[17:29:12] <wrbtrader> Yet...here we are
[17:29:52] <wrbtrader> A bullshit low volatility market after a global financial crisis although 8 years apart
[17:33:03] <Donnin______> so will we get volatility back
[17:34:53] <wrbtrader> Only if we get a catostrophic global event
[17:35:38] <wrbtrader> I can see this type of low volatility lasting a long time until that even happen
[17:35:50] <wrbtrader> It doesn't need to be financial related
[17:36:01] <wrbtrader> It can be political, religious
[17:36:20] <wrbtrader> Just anything that shakes up the world...causes a lot of fear
[17:37:06] <wrbtrader> Hopefully its not subtle...like technology related
[17:37:30] <wrbtrader> Like when computers and the internet shook up th 80's and 90's
[17:37:56] <wrbtrader> Markets went crazy...everybody doing IPOs
[17:38:31] <wrbtrader> Heck, even the local restuarant wanted to do an IPO just because they started a delivery service
[17:38:35] <wrbtrader> It was crazy
[17:39:27] <wrbtrader> In reference to private grocery stores wanting to do an IPO just because it wanted to do "home deliveries" of groceries.
[17:41:01] <wrbtrader> Thus, I don't think in our lifetime will see a global even involving technology burst
[17:41:39] <wrbtrader> The global even will be related to governments, political, war or religion
[17:42:43] <wrbtrader> I could be wrong...we still got the pending "Quantum Computing"
[17:43:25] <wrbtrader> Will know in about 5 - 10 years when Wallstreet start to get deliveries on that
[17:44:04] <wrbtrader> Microsoft and Google promise that it will be available too in their systems for regular computing
[17:44:49] <wrbtrader> Anyways...a losing trading day for me. I hate closing the week on Friday with a loss
[17:45:01] <wrbtrader> Gotta carry that pain the entire weekend
[17:45:17] <wrbtrader> Take care and see all on Monday
[17:46:57] <Donnin______> tc
Session Close: Sat Jun 03 00:00:00 2017

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

##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 free 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:

CME Emini Futures EMD, ES and NQ

ICE Emini TF Futures (formerly CME ER2)

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz

Euronext Futures FTSE-100 and CAC-40

CME Futures EuroFX 6E and EC

Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB

Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen, Usd/Cad, Xau/Usd and Xag/Usd

Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD

NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BRN, e-miNY QM and Natural Gas NG

COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

S&P CNX NIFTY Futures

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 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

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)
TheStrategyLab Price Action Trading
@ http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
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