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 Post subject: *February 28th Fri - #futures #forex #stocks #trading
 Post Posted: Fri Feb 28, 2020 11:49 am 
Trader / Forum Admin

Joined: Tue Dec 16, 2008 1:02 am
Posts: 3158
Location: Canada

TheStrategyLab Price Action Trading (no technical indicators)
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164 (see chat logs below)
M.A. Perry a.k.a. wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm & http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=11&t=6
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##TheStrategyLab primary purpose is for you to use the free chat room as a trade journal of your trades via you posting WRB Analysis of the price action you see on your monitors, posting price action analysis, ask real-time questions about WRB Analysis or posting your real-time trades (simulator or real money) in a timestamp environment after you've received confirmation from your broker trade execution platform. Simply, the free chat room is a trade journal of your trading day (thoughts and trades).

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 their use of WRB Analysis (e.g. Contracting Volatility, WRBs, WRB Hidden GAPs, WRB Zones, WRB/WRB Hidden GAP profit targets, Key Market Events, Reaction Highs/Lows, Expanding Volatility, R area of WRB Zone, S area of WRB Zone, midpoint of WRB Zone and speed of the price action) merged with their trade methods to improve the performance of their trade methods regardless if they're a position trader, swing trader, day trader, trend trader or range trader.

Therefore, you're welcome to use the free chat room to ask questions about WRB Analysis, post your real-time price action analysis involving WRB Analysis merged with your own trade methods, post real-time trades via WRB Analysis or talk about general market issues impacting today's price action involving stocks, futures, exchange traded funds or forex currencies as part of your trade journal. 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.

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With that said, thanks for reviewing (reading) the below timestamped trades, price action analysis or market commentaries and we highly recommend you make reading of the chat logs (we use it to provide critical missing info for our broker statements) 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 ##TheStrategyLab free 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

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

Bloomberg Markets: The Open Full Show (02/28/2020) @ https://www.bloomberg.com/news/videos/2020-02-28/-bloomberg-the-open-full-show-2-28-2020-video

[09:27:32] * Now talking in ##TheStrategyLab
[09:27:32] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:28:53] <wrbtrader> Goodmorning
[09:29:37] <wrbtrader> Hey Trendtrader...you primarily swing trading or just day tradinig part-time like a few times per month ???
[09:30:07] <Tigerman_____> gm all
[09:30:56] <wrbtrader> Hi Tigerman
[09:31:15] <wrbtrader> Wow...Dow already -700 points out of the gate
[09:31:54] <wrbtrader> Long Emini ES @ 2895.00 -> large size
[09:31:56] <wrbtrader> 10 contracts
[09:32:23] <wrbtrader> Trumps face was NOT on TV last night to try to put in a support
[09:32:43] <wrbtrader> I like what I see now as a real buying opportunity without the merits of Trump
[09:33:33] <wrbtrader> Exited all Emini ES Long @ 2912.00 --> + 17
[09:33:43] <wrbtrader> WRB pt1 reached
[09:34:28] <wrbtrader> Long Upper Shadow interval
[09:35:04] <wrbtrader> Long Emini ES @ 2914.00 -> small size
[09:35:11] <wrbtrader> 3 contracts
[09:35:17] <wrbtrader> price action moving very fast
[09:35:54] <wrbtrader> Long Emini ES @ 2916.50 -> small size
[09:36:15] <wrbtrader> that's an add
[09:36:56] <wrbtrader> Exited 1/2 Emini ES Long @ 2927.00 --> + 10.5
[09:37:44] <wrbtrader> Exit remainder @ 2926.00 +12
[09:38:04] <wrbtrader> The add was 3 contracts
[09:39:17] <wrbtrader> Another long upper shadow interval
[09:39:55] <wrbtrader> Long Emini ES @ 2923.75 -> small size
[09:40:05] <wrbtrader> 2 contracts
[09:40:27] <wrbtrader> Exited all Emini ES Long @ 2921.00 --> - 2.75
[09:42:00] <wrbtrader> Long Emini ES @ 2918.00 -> small size
[09:42:09] <wrbtrader> 3 contracts re-entry
[09:42:42] <wrbtrader> Exited all Emini ES Long @ 2923.00 --> + 5
[09:42:59] <wrbtrader> trail stop picked pocketed
[09:43:25] <wrbtrader> Actually, stolen as soon as I moved the initial stop into a protective trail stop
[09:44:23] <wrbtrader> another long upper shadow interval
[09:44:31] <wrbtrader> some resistance in this price area
[09:44:49] <wrbtrader> support in for the contracting volatility intervals
[09:45:13] <wrbtrader> Shorts Emini ES @ 2906.00 -> large size
[09:45:18] <wrbtrader> 10 contracts
[09:45:33] <wrbtrader> contracting volatility intervals support broken
[09:46:21] <wrbtrader> WRB pt1 reached
[09:46:56] <wrbtrader> Covered all Emini ES Short @ 2903.00 --> + 3
[09:47:17] <wrbtrader> snapback up off the R area of the most recent Up WRB Hidden GAP interval
[09:48:15] <wrbtrader> Mixed info in the Market Depth of each exchange
[09:48:28] <wrbtrader> Yet...all are negative
[09:49:00] <wrbtrader> Now correlated trying to decline together
[09:49:30] <Tigerman_____> messy action right now
[09:49:42] <wrbtrader> Shorts Emini ES @ 2907.00 -> large size
[09:49:45] <wrbtrader> 10 contracts re-entry
[09:49:46] <Tigerman_____> I just did some good short at start on ES
[09:50:15] <wrbtrader> fast bouncing around in the lower area of the most recent Down WRB Hidden GAP interval
[09:50:41] <wrbtrader> now near the S area
[09:53:17] <wrbtrader> Now broken below the Support area of that Down WRB Hidden GAP interval while at the same time the VIX > 42 with declining Market Depth
[09:54:17] <wrbtrader> WRB pt1 reached
[09:55:05] <wrbtrader> Covered all Emini ES Short @ 2885.00 --> + 22
[09:55:15] <wrbtrader> Crazy
[09:55:23] <wrbtrader> I'm done for the day
[09:55:30] <wrbtrader> and that was an early exit
[09:55:37] <wrbtrader> That's why its a crazy trade
[09:56:25] <wrbtrader> I think that's the biggest WRB pt1 I've ever had since the markets re-open after 911
[09:58:02] <wrbtrader> Price action still dropping
[09:58:04] <wrbtrader> Wow
[09:58:34] <wrbtrader> At this pace...its going to be another -1000 day for the Dow
[10:00:39] Trendtrader is ~adeptarch@d75-159-156-82.abhsia.telus.net * Jeff
[10:00:39] Trendtrader on ##VolatilityTradingTSL ##TheStrategyLab
[10:00:39] Trendtrader using weber.freenode.net US
[10:00:39] Trendtrader End of /WHOIS list.
[10:02:48] <@wrbtrader> Dow now -919 points
[10:03:20] <@wrbtrader> I'm only hanging around today to see if it can hit -1000 again
[10:03:39] <@wrbtrader> Got in some good trades
[10:04:11] <@wrbtrader> Wow...Dow just did it -1009 points
[10:05:05] <@wrbtrader> I now can't believe I was able to catch a few Long positions out of the gate
[10:05:37] <Tigerman_____> yep was a fast up move
[10:05:50] <Tigerman_____> action is super fast
[10:05:57] <Tigerman_____> I did some trades on NQ
[10:06:02] <@wrbtrader> Dow tumbles 1,000 points for third time this week as Friday’s sell-off worsens (CNBC) @ https://www.cnbc.com/2020/02/27/dow-fut ... fears.html
[10:06:10] <Tigerman_____> wow the book jump like a frog :(
[10:07:31] <@wrbtrader> Bloomberg showed a recent video of interviewing key analysts stating this will be a V or U shape recovery
[10:07:55] <@wrbtrader> The timing of their prediction obviously went WRONG big time :(
[10:09:12] <Tigerman_____> better not trust them
[10:10:48] <@wrbtrader> Québec province (Montréal) - Yesterday had its first "presumptive case" of the Corona-Virus...health officials will announce later today if its a confirmed case of the Corona-Virus
[10:11:20] <@wrbtrader> https://montreal.ctvnews.ca/quebec-has- ... -1.4831088
[10:13:56] <Trendtrader> gm all
[10:14:33] <@wrbtrader> Trendtrader...I have a question for you
[10:14:41] <Trendtrader> long nq 8178 sim
[10:14:57] <@wrbtrader> You're primarily swing trading or day trading ?
[10:15:27] <Trendtrader> exit nq long 8188 +10 sim
[10:16:01] <Trendtrader> hi wrbtrader. Day trading. I never hold a position past the close of the day.
[10:17:50] <@wrbtrader> Ok
[10:18:35] <Tigerman_____> market try build some support here
[10:18:47] <@wrbtrader> Trend...I sent you a private message on IRC
[10:19:40] <werner1> hi all
[10:27:37] <werner1> Shorts Emini NQ @ 8228.00
[10:27:41] <werner1> brr
[10:28:39] <werner1> Covered all Emini NQ Short @ 8218.00 --> + 10
[10:30:59] <werner1> pfff atr 1 min @30
[10:31:19] <werner1> vix 49
[10:31:26] <@wrbtrader> I don't remember much about the SARS virus scare back in 2001 because I didn't document it much like I do today the way I document my trading
[10:31:36] <@wrbtrader> in the wake of the Corona-Virus
[10:32:18] <@wrbtrader> I have online articles, screenshots embedded in my private trade journal with info about the Corona-Virus and its impact on market conditions
[10:32:39] <@wrbtrader> I don't ever want to forget just in case it happens again
[10:33:15] <Tigerman_____> I hope it NEVER happen again :(
[10:33:22] <@wrbtrader> Those trading back in 2001 must have jumped all over this story about the Corona Virus
[10:33:45] <Tigerman_____> I talk for health issue about virus
[10:34:14] <@wrbtrader> After 911...I included market context info about what I thought was impacting price action on each trading day
[10:34:47] <werner1> i see that the vix has the same level...also 49
[10:35:08] <@wrbtrader> It's a pain to document it in the trade journal but worth it when looking back on it...years from now especially when events repeat
[10:36:00] <@wrbtrader> If the Corona-Virus continues into the next FOMC meetings...
[10:36:09] <@wrbtrader> The FED will cut
[10:37:03] <@wrbtrader> If the market doesn't respond to the FED cut...the price action will continue selling off
[10:38:26] <@wrbtrader> Here's what I find very strange...
[10:38:40] <@wrbtrader> I'm a member of several popular trading forums...
[10:39:23] <@wrbtrader> There's not much discussion about trading in these market conditions
[10:39:36] <werner1> Shorts Emini NQ @ 8204.50
[10:39:48] <@wrbtrader> More discussions just about Corona Virus but very little discussions about its impact on the markets
[10:40:22] <@wrbtrader> Even after the Dow gets hit -1000 points
[10:41:11] <@wrbtrader> Either traders staying on the sidelines (too scare to trade) OR there's less traders involved in trading
[10:43:57] <werner1> Covered all Emini NQ Short @ 8194.00 --> + 10.5
[10:44:03] <werner1> pfff
[10:45:04] <Tigerman_____> wrbtrader... I think less traders involved in trading
[10:45:51] <Tigerman_____> btw theses days are the best for trading... in contrast action is very fast not easy for retailers
[10:45:58] <werner1> very stressful :(
[10:46:14] <@wrbtrader> Its scary too fast
[10:46:43] <@wrbtrader> It reminds me a little of the price action when use to get in Janauary for the fast big moves
[10:47:13] <@wrbtrader> Its sneaky or tricky because if you're looking at the chart without the X/Y axis...
[10:47:21] <@wrbtrader> It looks normal
[10:47:23] <Tigerman_____> yep exactly anyway this is all via algos
[10:47:40] <@wrbtrader> Static charts do not show the speed of the price movement
[10:47:41] <werner1> indd
[10:48:20] <@wrbtrader> Bouncing about or moving +5 points in seconds...that's scary
[10:48:20] <Tigerman_____> wrbtrader how did yoy manage stops today hard stop still at -2p in ES?
[10:48:43] <@wrbtrader> I always start at -4 points
[10:48:53] <Tigerman_____> I got lot of issue also big stop picked in nanoseconds :(
[10:48:57] <@wrbtrader> Its been like that since I can't remember
[10:49:20] <@wrbtrader> I had one trade today that immediatley went -2.75 after entry
[10:49:32] <@wrbtrader> I didn't even have time to move my trail stop...
[10:49:51] <@wrbtrader> I panicked and then boom...instantly I was at a +1 point profit
[10:50:05] <@wrbtrader> Than it continue moving into a bigger profit very fast
[10:50:20] <@wrbtrader> It literally felt like it did all of that in a few seconds
[10:50:39] <@wrbtrader> Yet, reality, it took about 2 minutes
[10:51:01] <@wrbtrader> Its the trail stop management that's hard
[10:51:38] <Tigerman_____> yeah infact I working hard on it
[10:51:56] <@wrbtrader> If I was a trader that used the DOM or order flow...maybe I would have more of an advantage but I'm not an order flow trader
[10:52:06] <Tigerman_____> naive people think that is easy put an order and wait :(
[10:52:39] <@wrbtrader> Entering a trade is easy...managing a trade in fast moving price action is EXTREMELY HARD
[10:53:03] <werner1> yep
[10:53:24] <@wrbtrader> If I was using -1 to -2 point stops...I would have instant trail stop hits
[10:53:45] <@wrbtrader> That's the impact of Volatility
[10:53:57] <@wrbtrader> I think Algos exploit it too
[10:54:13] <@wrbtrader> They steal those -1 to -2 point stops very easy
[10:56:10] <@wrbtrader> Many times today...I had thoughts that I should enter "right here"...a blink of hesitation (no trade)...the price action moves 5 points away in comparison to where it was at when I had that thought.
[10:58:55] <Tigerman_____> wrbtrader I think there are few manual traders into the world can trade day after day like us
[10:59:24] <@wrbtrader> I'm starting to believe that too
[10:59:43] <Tigerman_____> it is very stressful plus the mental side that prompt us to think oh no tomorrow another battle :(
[10:59:45] <@wrbtrader> I don't meet as many manual traders like I met 10 years ago
[11:00:14] <@wrbtrader> I know the mental aspect impacts my health since my illness in 2016
[11:01:28] <@wrbtrader> I can now physically feel pain after a trading day in reference to severe headaches, hearing a dead ringing in the ears and such
[11:02:00] <@wrbtrader> I've already had a serious surgery back in October 2019 in which I wasn't able to trade for several months after that surgery
[11:03:02] <@wrbtrader> I'll be taking the summer off from trading...hopefully this Corona Virus stuff will subside or go away or a vaccine is found so that I will not have any fear to travel during the summer
[11:03:45] <@wrbtrader> Since 2016...I'm basically only trading 1/2 days or part-time
[11:04:07] <@wrbtrader> That's the impact of the markets on the mind/body :(
[11:09:45] <werner1> i try to un stress me with meditation moments ...also before i go to sleep
[11:10:10] <@wrbtrader> That's very good
[11:10:39] <werner1> yeah i feel much better :)
[11:11:04] <@wrbtrader> I remember when my spouse had cancer...she had Yoga and Meditation classes...even at the hospital right before her radiation
[11:12:02] <@wrbtrader> Sitting there watching them give that treatment like a blood transfusion was tough to watch
[11:12:34] <werner1> :(
[11:12:53] <werner1> ...brb ..horses :(
[11:13:49] <@wrbtrader> I'm gonna reboot...my system has been on since Monday...never a break
[11:31:30] * Now talking in ##TheStrategyLab
[11:40:57] <wrbtrader> One of my kids is on March spring break next week.
[11:41:18] <wrbtrader> Just found out about a few minutes ago via email from the school
[11:43:11] <wrbtrader> I have now decided to take off (no trading) next week and fly to South Dakota with my son to visit relatives on my father side of the family and then visit relatives in Chicago
[11:43:18] <wrbtrader> A busy week of travel
[11:43:47] <wrbtrader> I'll be auto logging the chat room discussions and it will auto upload at night
[11:44:37] <wrbtrader> Usually spring break on the college level is associated with traveling to someplace that's "warm"
[11:45:17] <wrbtrader> For me...its a time to see relatives in other locations that has a winter :(
[11:46:31] <werner1> enjoy :) there is more on this planet than trading.....next week here on ski vacation with my kids
[11:48:00] <wrbtrader> I'll be mobile so that take care of clients at the private forums
[11:48:24] <werner1> aha
[11:49:13] <wrbtrader> Will be a great time to teach my son about using a "View Camera" and lighting :)
[11:58:56] <wrbtrader> I recently bought him a Toyo 45 4x5 camera and he wants to bring it on his spring break to take "family photos" of his cousins in South Dakota
[12:00:02] <wrbtrader> I have a feeling I'll be spending my time "teaching" him how to use it...the dos and donts :)
[12:01:11] <werner1> hihi
[12:05:38] <wrbtrader> How the English Language Is Taking Over the Planet @ https://getpocket.com/explore/item/behe ... ket-newtab
[12:06:07] <wrbtrader> Growing up in France...we were the only bilingual/trilingual family on the street
[12:06:33] <wrbtrader> Today, have the street (neighbors) speak English too.
[12:06:36] <wrbtrader> This is in France
[12:07:16] <wrbtrader> have = 1/2
[12:07:59] <wrbtrader> My last visit to France...a neighbor asked me if Canada, Chicao or South Dakota is the same
[12:08:09] <wrbtrader> I had to think about it for awhile
[12:08:17] <wrbtrader> I realize it is the same
[12:08:52] <wrbtrader> Meaning...I knew a lot of immigrants in Chicago that did not speak English that well
[12:09:47] <wrbtrader> Today, more immigrants arrive and are fluent in English
[12:10:07] <wrbtrader> The neighborhood in my grandmother's home town...
[12:10:31] <wrbtrader> I lived with her in the summers...all Lakota speakers
[12:10:36] <wrbtrader> very little English
[12:11:05] <wrbtrader> Today, everybody there are fluently bilingual include new Lakotas moving back into the neighborhood
[12:11:18] <wrbtrader> English is a domineering language
[12:11:37] <wrbtrader> Just like that link to the article is trying to explain
[12:11:46] <wrbtrader> It's truly taking over the planet
[12:13:03] <wrbtrader> Unfortunately, not really discussed in that article...its also making other languages almost extinct
[12:13:44] <wrbtrader> We've lost 20% of Lakota speakers in the past 20 years
[12:14:11] <wrbtrader> France has a decrease of 8% french speakers in the past 20 years
[12:14:23] <wrbtrader> What replace the lost speakers...
[12:14:27] <wrbtrader> English speakers
[12:14:28] <werner1> Shorts Emini NQ @ 8333.00
[12:16:37] <wrbtrader> It's a called Language Attrition. More info @ https://en.wikipedia.org/wiki/Language_attrition
[12:16:38] <werner1> Covered all Emini NQ Short @ 8312.75 --> + 20.25
[12:16:50] <werner1> strailstop
[12:16:51] <wrbtrader> Crazy profit in a short amount of time :)
[12:16:59] <werner1> indd
[12:17:10] <wrbtrader> It's one of those trading days when the price action moves so damn fast
[12:18:11] <werner1> yep one mistake and the profit is gone :(
[12:18:18] <wrbtrader> Bingo
[12:18:34] <wrbtrader> Exactly...reason why today and recent trading days are scary
[12:18:55] <wrbtrader> It's so scary...
[12:19:15] <wrbtrader> Regular news channels that are not financial channels...
[12:19:43] <wrbtrader> A few now show the Dow Index in the lower left or right corner :(
[12:20:05] <wrbtrader> Realtime ticker...crazy
[12:20:13] <werner1> lol
[12:22:56] <werner1> normaly i set a 2 x atr trail stop ...that means now a 40 points stop
[12:23:02] <werner1> crazy
[12:23:04] <wrbtrader> wow
[12:25:08] <werner1> normaly 4/8 points
[12:27:54] <werner1> so fear is now my bigest anmy ...with that said ..only watch now
[12:33:00] <wrbtrader> I hope you're documenting the price action and your trading during this Corona Virus conditions
[12:33:19] <wrbtrader> The info can be very beneficial and help your trading years to come
[12:34:00] <werner1> that a good one ....i must do that more indd
[12:34:34] <werner1> one of my weaknes writing :(
[12:35:23] <wrbtrader> The only thing I like about these types of rare trading conditions...
[12:35:53] <wrbtrader> It scares traders away and weeds out those that do not know much about trading
[12:36:40] <werner1> true
[12:56:05] <wrbtrader> These are unforgettable trading conditions and the timing is just weird...
[12:56:28] <wrbtrader> Olympic Games in the Summer and a U.S. Presidential Election late in the fall
[12:57:34] <wrbtrader> South Korea and Japan are currently countries that will soon surpass China
[12:57:43] <wrbtrader> Olympics is in Tokyo
[12:57:53] <wrbtrader> Crazy
[12:58:17] <wrbtrader> If there's no vaccine soon...
[12:58:34] <wrbtrader> Everybody at the Olympics will be wearing medical gear
[14:28:14] <werner1> nice weekend all
Session Closed

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