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 Post subject: ##TheStrategyLab Chat Room Explained
 Post Posted: Wed Jun 01, 2011 4:28 pm 
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
Chat Room Moderator wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
Chat Room Access Instructions: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=164&t=1862
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)


Archive chat log for image to the left @ http://www.thestrategylab.com/033007FuturesTrades.htm

##TheStrategyLab is primarily designed to be only a real-time trade journal for documentation purposes so that members can have a real time stamp archive of their trades and market commentaries of each trading day. These chat logs will give users a better understanding of their broker statements from one trade to the next trade when they review their performance numbers on any given trading day while comparing the time stamps of these chat logs to their broker statements.

Users of the free chat room must post their real time trades and real time market analysis to aid in proper documentation of their trading whenever they need to review their trading routine of the past to be able to adapt for the future. In fact, on any given trading day in the past...my own documentation shows me what charts I was looking at while I was trading, what KME's I was monitoring for that trading day, what personal distractions I had during the trading day, what price actions I was zooming in on along with other critical areas of trading...I can see what was occurring in my trading day on any given trading day. These are things my broker statements alone will not reveal.

The image above (to the left) in this message post represents what many users in the private chat room were able to see via screen sharing...I took a quick snapshot for marketing purposes. I have many images like this of different trading days distributed on different webpages here at my website and at my forum just in case someone says they didn't see any verification...as in reality they didn't even look for them. Currently, I no longer do screen sharing...thanks to unprofessional behavior of trolls that violated my terms of use policy @ http://www.thestrategylab.com/House-Rules.htm

Regardless, another purpose for the image is to show traders they can document their trades or analysis via their charts and trading platform for their own personal trade journals. The documentation gives them valuable feedback about what they were looking at on any particular trading day...valuable information then just looking at numbers in broker statements alone.

Yet, if you want ##TheStrategyLab chat room to be educational or more active in discussing whatever it is that you're trading, we highly recommend that you ask trading related questions about your own trading instead of lurking (not saying anything) because your primary purpose is to improve your trading if you're a struggling trader. Therefore, don't join ##TheStrategyLab and then be silent. To be silent while using ##TheStrategyLab chat room, you'll be wasting a collaboration opportunity for improving your trading and doing such will make ##TheStrategyLab chat room useless to you.

With that said, you're not require to use the free chat room as a trade journal to get help with your trading because we understand most traders are uncomfortable with using chat rooms. Instead, as recommended by some users of WRB Analysis to use the free chat room in combo with professional trade journal services such as tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because these professional trade journal software will do the quantitative statistical analysis for you involving your trade performance so that you can determine on your own the strengths & weakness about your trading.

Yet, if you don't want to use the chat room and prefer to post your quantitative statistical information via any of the above recommended professional trade journal software resources in your private thread...that's ok too. 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 and then post your results in your private thread.

The most common trading instruments you'll see discussed in ##TheStrategyLab real-time chat room are Gold GC futures, Crude Oil CL futures, Emini ES futures, Emini RTY (TF) futures, Emini NQ futures, Emini YM futures, Eurex DAX futures, Forex EurUsd, QQQ, SPY, IWM, DIA and VIX. In addition, we welcome traders of other trading instruments that are listed @ http://www.thestrategylab.com/TradingInstruments.htm

##TheStrategyLab is not a signal calling chat room and we do not offer a signal calling service. Simply, do not waste your time in pretending you can review or analyze the chat room as if its a signal calling trade room. In addition, the free chat room is not a mentor (coaching) service. Therefore, do not join the chat room with the hope that someone will be able to mentor you in the chat room because chat rooms are not suitable for mentoring (teach someone how to trade).

By the way, its impossible for you to follow (mimic/copy) my trades or the trades posted by users of the free chat room for the following reasons...

1) These are real trades or simulator trades (depending upon the trader posting the trades) and not signal calls. Thus, the trades you see posted in the chat room by different users are only posted after (within 3.2 - 7.2 seconds) the confirmation received in the broker platform depending upon the member posting trades. In contrast, a signal call chat room has one guru trader posting trades (often hypothetical) along with instructing members when to buy/sell and instructions on stop placement.

2) Our chat room requires participation to maintain its usefulness. Therefore, you will never see the real-time trades fast enough to mimic the trades from among commentaries by other members. Simply, you can't get similar like trade fills on the entries, exits and position size.

3) Some members do not want others trying to mimic their trades because they know that most traders that do mimic without permission...usually aren't respectful and give nothing back in return to the chat room usefulness.

4) To legally operate a signal calling chat room to prevent getting into trouble with regulatory agencies...the signal caller and chat room must operate within the guidelines of those regulatory agencies. That's another reason why our chat room is free and mimicking (copying) someone's trades is not allowed in ##TheStrategyLab...we avoid all the legalities (headaches) associated with signal calling chat rooms.

Do not attempt to mimic the trades of any trader in ##TheStrategyLab chat room. If we suspect you've joined ##TheStrategyLab to try to use it as a signal calling chat room in an effort to piggy back (mimic or copy) someone's trades, you will be banned...no exceptions and no warnings.

Once again, ##TheStrategyLab is free and designed to be only a trade journal for documentation purposes only so that members can have a real 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. Simply, if you're attempting to use ##TheStrategyLab as a signal call chat room...you're using ##TheStrategyLab for the wrong reasons and the chat room is not suitable for you.

In addition, we welcome all traders with their own methods price action or indicators via different trading styles that's merged with concepts from WRB Analysis to help keep the chat room diversified...posting trades, price action analysis or market commentaries. Yet, if you're looking for education specifically involving trade methods of TheStrategyLab that we call WRB Analysis...you must first download and learn our WRB Analysis free study guide at a different forum @ TSL Support Forum * http://www.thestrategylab.com/tsl/forum/viewforum.php?f=119 prior to asking any questions about the trades, price action analysis or market commentaries posted by wrbtrader (owner of TheStrategyLab) in ##TheStrategyLab. WRB Analysis Tutorials will help you to understand some of the key price areas (WRB Zones) that I'm looking for trade opportunities within along with learning how to use volatility analysis to help with position size management and trade management after entry.

With that said, thanks for reading the archived chat logs and we highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful trade information not discussed anywhere else online nor in any books.

Reminder, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that ##TheStrategyLab is a serious professional 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, offending or too far in the off topic area that's a distraction when the commentary was posted.

Note: All logs regardless to their location at TheStrategyLab.com website are eastern standard time.

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Only Trading (no technical indicators)
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
Go Back To TheStrategyLab.com Homepage

033007mFuturesTrades[1].png [ 246.3 KiB | Viewed 494 times ]
033007ftchat_FuturesTrades_TheStrategyLab_Chat_Room[1].png [ 32.94 KiB | Viewed 707 times ]
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