Jun 19, 2018 – Shaking out the Bears

Premarket Insight

Trump does it again! Apparently, a news event based on another infamous Trump action caused the markets to take a dive after the close of Monday’s session. Imagine my disappointment when I logged into my charts first thing in the morning to see a move I’ve been waiting on for weeks to happen while I was sleeping.

At the beginning of my trading day, NQ down +75 points (1.04%), currently retesting the selloff. As expected, volume is healthy with more than 81K of volume. Nothing else super interesting on the calendar, except Building Permits as reported by investing.com. Will be interesting to see how the day unfolds.

 

At the Bell

Didn’t get any signals in the premarket so no trades placed. Only took a paper trade on GC with a play that will be used in the future.

As expected, NQ hung out sideways after the aftermarket selloff and popped strong bullish at the open. Staying disciplined to 10 min rule and not taking a play yet. It’s still early, there’s a good chance there will be another opportunity sometime throughout the day.

 

COB Recap

Long story short, days like this I really regret missing trades on previous days. Took a major loss today of more than 2R on my first 3 plays. Also, frustrating that if I didn’t have that 10 min rule, my strategy would have been perfect for the bullish pop at the bell. But that rule is there for a reason. Have to remember I’ve had more loses than winners in that timeframe so better to just let those potential plays be. Honestly, I should have known better than trying to go bearish so aggressively with how far the price had already dropped.

However, even with the struggles and size of this red day, still ended there was still some positives. For one, I didn’t make any mistakes in regard to how to play my strategy. If I had traded like this previous days, today wouldn’t matter much. Secondly, I did confirm that I know how to adjust for these choppy days as I was profitable paper trading with those adjustments. Go figure.

 

P.S. HAPPY BIRTHDAY!!! ?????

Time to go celebrate!

 

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Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Jun 18, 2018 – Baby Steps

Premarket Insight

Primary focus this week will be on GC (gold) and CL (crude oil) in the premarket and NQ after the open, staying true to my 10 min rule.

 

Logging in to start my day, so far GC is bouncing in a range. CL has already taken off bullish. However, need to keep in mind the volatility of CL. Typically it can always give good opportunities in any direction at any time.

 

I’m not seeing anything super significant on the calendar or in the news today.

 

At the Bell

NQ had significant selloff in the premarket, down 50 points (0.70%) before the open. Most of that selloff happening before midnight Sunday. Possible flash crash coming? … (fingers crossed)

 

NQ continued a bearish dip and bounced off a pivotal point. (insert pun here)

 

COB Recap

Let the choppiness get the best of me after the open today, Only was able to catch several small scalps on NQ, but should have been much more. Started to get frustrated so decided to take a break from my desk. That’s when the market decided to have its bullish pop, where I should have got my nice win. Ended up just scalping the top of that move.

 

The early moves in GC and CL only resulted in a small scalp off GC in the premarket.

 

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Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Jun 15, 2018 – Bloody Battle

Premarket Insight

As expected, the NQ is having some pullback in the premarket in response of a strong day bullish yesterday. GC already looking strong on volume. Hasn’t made a significant move yet. On the daily, could be at an area to break out of this consolidation bullish.

 

On the playlist today is the usual, GC in the premarket and NQ after the bell. Will also be working on some things with paper money.

 

At the Bell

Later I did realize today is expiration Friday, so all the selling in the premarket made sense. I should have played NQ in the premarket with this knowledge. Could have caught some nice scalps.

 

As usual, the first 10 mins of the open chopped around with no general direction. Took one L in the premarket on GC (gold futures) with a valuable takeaway of having one too many indicators on my chart. Sucks to lose but happy I was able to learn from it.

 

COB Recap

Long story short, pretty much ended the day getting caught in a revenge trade. Took 2 Ls getting caught being aggressive at the wrong time in the middle of a battle between the bulls and the bears with a little felling of regret from missing an earlier opportunity.

BTW, I was completely wrong on GC with my earlier analysis on it being at a good position to pop higher breaking out of daily consolidation. Instead, it decided to let the bears in for a field day.

See my mess below.

 

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Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”