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 Post subject: May 13th Weds - #futures #forex #stocks #trading
 Post Posted: Wed May 13, 2020 11:26 am 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 2848
Location: Canada
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[08:59:58] * Now talking in ##TheStrategyLab
[09:03:06] <wrbtrader> Shorts Emini ES @ 2860.00 -> large size
[09:03:09] <wrbtrader> 10 contracts
[09:04:34] <wrbtrader> FED Chairman speaking...current KME impacting the markets
[09:07:35] <wrbtrader> Covered all Emini ES Short @ 2854.75 --> + 5.25
[09:07:46] <wrbtrader> trail stop picked pocketed
[09:08:25] <wrbtrader> Shorts Emini ES @ 2854.75 -> large size
[09:08:45] <wrbtrader> 10 contracts re-entry after the prior rude trail stop pick
[09:09:44] <wrbtrader> Covered all Emini ES Short @ 2845.25 --> + 9.5
[09:09:57] <wrbtrader> WRB pt1 reached
[09:10:34] <wrbtrader> I just had a vision of President Trump freaking out and YELLING to get FED Chairman off TV because the markets are tanking
[09:11:43] <wrbtrader> Emini Futures now below the 0500am est KME low
[09:12:52] <wrbtrader> Long Emini ES @ 2852.75 -> small size
[09:12:55] <wrbtrader> 1 contract
[09:14:08] <wrbtrader> back to the R area of the most recent Down WRB Hidden GAP interval
[09:15:24] <wrbtrader> Exited Emini ES Long @ 2856.25 --> + 3.5
[09:15:32] <wrbtrader> WRB pt1 reached
[09:24:29] <wrbtrader> Long Upper Shadow interval
[09:24:50] <wrbtrader> Its been a long while since I've jump start the Open like this
[09:25:59] <wrbtrader> Yet, the KME involving FED Chairman answering questions via video was unusual especially when he talks about the economic impact from the Cornavirus
[09:27:32] <wrbtrader> Long Emini ES @ 2856.00 -> small size
[09:27:36] <wrbtrader> 1 contract
[09:27:53] <wrbtrader> climbing up the range of the Long Upper Shadow interval
[09:28:04] <wrbtrader> small WRB pt1 reached
[09:28:39] <wrbtrader> Exited Emini ES Long @ 2858.00 --> + 2
[09:29:55] <wrbtrader> Eminis have returned back to the range (above the S area) of the FED Chairman speech KME (first Down WRB Hidden GAP interval)
[09:33:32] <wrbtrader> Shorts Emini ES @ 2852.00 -> small size
[09:33:39] <wrbtrader> 3 contracts
[09:33:45] <wrbtrader> poor entry
[09:33:50] <wrbtrader> moving a little too fast
[09:34:32] <wrbtrader> back to the FED Chairman KME lows
[09:34:46] <wrbtrader> WRB pt1 reached
[09:35:44] <wrbtrader> Covered all Emini ES Short @ 2838.75 --> + 13.25
[09:35:50] <wrbtrader> WRB pt2 reached
[09:51:11] <wrbtrader> The FED Chairman Q&A session via webcast essentially jumped the VIX from 27 to 33 price area
[10:02:32] <wrbtrader> Ok...I'm back
[10:04:34] <wrbtrader> Someone that's not a member of the chat room because he actually doesn't like ANY chat rooms...
[10:04:58] <wrbtrader> Yet, he's the most consistent reader of the chat room logs for the past 10 years.
[10:05:25] <wrbtrader> He sent me an email last night with a very interesting question...
[10:05:46] <wrbtrader> What are "early entry" when I state such for some of my trades
[10:05:50] <wrbtrader> ?
[10:06:02] <wrbtrader> Answer that i replied to him...
[10:06:35] <wrbtrader> I have enough experience that I see the price action develop and COULD setup for a valid trade
[10:06:58] <wrbtrader> I then ANTICIPATE and jump into the the trade EARLY prior to a confirm trade signal showing up
[10:07:28] <wrbtrader> I can not do that if I didn't have good experience with my trade strategies along with good experience with the market
[10:08:32] <wrbtrader> In contrast, "poor entries" or "chasing" involve when I was just late in seeing a valid trade entry but decided to still enter the trade.
[10:09:28] <wrbtrader> I document these trades with small comments like that to ensure I have a better understanding of the trades
[10:09:42] <wrbtrader> when viewing at them days, weeks or months from now
[10:10:23] <wrbtrader> Shorts Emini ES @ 2854.50 -> small size
[10:10:26] <wrbtrader> 3 contracts...early entry
[10:10:53] <wrbtrader> Will be a tough trade...a fight
[10:12:03] <wrbtrader> Covered all Emini ES Short @ 2834.50 --> + 20
[10:12:24] <wrbtrader> correction...
[10:12:39] <wrbtrader> Covered all Emini ES Short @ 2854.50 --> 0
[10:13:01] <wrbtrader> Shorts Emini ES @ 2854.00 -> small size
[10:13:08] <wrbtrader> 3 contracts re-entry
[10:13:20] <wrbtrader> price action jumping around...making me nervous
[10:13:38] <wrbtrader> Jumpy price action is usually a prelude to a directional price movement
[10:15:06] <wrbtrader> Covered all Emini ES Short @ 2853.25 --> + 0.75
[10:15:14] <wrbtrader> early exit
[10:15:18] <wrbtrader> too jumpy for me
[10:15:33] <wrbtrader> more contraction showing up in the volatility
[10:15:47] <wrbtrader> also a prelude to a directional price movement
[10:17:05] <wrbtrader> Shorts Emini ES @ 2853.75 -> large size
[10:17:07] <wrbtrader> 10 contracts
[10:17:41] <wrbtrader> Covered all Emini ES Short @ 2854.75 --> - 1
[10:18:21] <wrbtrader> Shorts Emini ES @ 2854.50 -> large size
[10:18:24] <wrbtrader> 10 contracts re-entry
[10:21:24] <wrbtrader> :(
[10:21:42] <wrbtrader> tough price action
[10:22:01] <wrbtrader> still no directional price movement
[10:22:14] <wrbtrader> more contraction
[10:22:51] <wrbtrader> small WRB pt1 reached
[10:25:19] <wrbtrader> Covered all Emini ES Short @ 2849.50 --> + 5
[10:25:29] <wrbtrader> trail stop picked pocketed :(
[10:25:46] <wrbtrader> more like "stolen" or "robbed"
[10:27:50] <asuni> hard to exit from 9.34 wrb
[10:28:01] <wrbtrader> Long Emini ES @ 2855.50 -> small size
[10:28:07] <wrbtrader> 1 contract
[10:28:24] <asuni> great entry
[10:28:42] <wrbtrader> Keeping my size small on these Long positions until it can retrace the FED Chairman speech KME
[10:29:06] <wrbtrader> Emini NQ futures has already done that
[10:29:27] <wrbtrader> Reason why I'm hoping that the Emini ES futures will try to do the same now
[10:31:06] <wrbtrader> WRB pt1 reached
[10:31:52] <wrbtrader> There's the directional price movement...but UP
[10:32:08] <wrbtrader> Exited Emini ES Long @ 2867.25 --> + 11.75
[10:33:22] <wrbtrader> recent Shorts was betting the directional movement would be southward...reason why I position size large on those recent Short positions
[10:34:10] <wrbtrader> Had I known the direction was going to be UP...obviously I wouldn't have had just 1 contract on the Long positions :)
[10:43:12] <wrbtrader> Long Upper Shadow interval
[10:43:43] <wrbtrader> Shorts Emini ES @ 2860.00 -> small size
[10:43:51] <wrbtrader> 1 contract
[10:44:00] <wrbtrader> poor entry
[10:44:24] <wrbtrader> Trade signal @ 2863.00
[10:44:56] <wrbtrader> meant 2862.00
[10:45:09] <wrbtrader> not fast enough to catch or I was distracted
[10:45:22] <wrbtrader> small WRB pt1 reached
[10:45:48] <wrbtrader> Covered Emini ES Short @ 2857.25 --> + 2.75
[10:46:17] <wrbtrader> I've pushed it very hard today especially via the early start to my trading day...
[10:46:24] <wrbtrader> I'm calling it quits right
[10:46:33] <wrbtrader> Take care all and see you all tomorrow


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