Premarket Insight
In my crisis yesterday, realized I’ve been doing myself a major disservice by stepping away from my primary strategy on NQ. Could have been crushing it this whole time had I just stuck with it, only adding the breakeven plan I have developed over time. Let that be a lesson to always stick with the strategy through thick and thin, only making minor adjustments (adding to, not taking away) for improvement of performance. Will be reverting back to that strategy immediately!
A few things on the calendar today. Building Permits at 08:30 EST, Fed Chair Powell Testifies at 10:00 EST, and Crude Oil Inventories at 10:30 EST.
At the Bell
Again, took two losses in the premarket on CL. I was hesitant to take those plays and I should have went with that instinct because the volume was so low, really across the board. There was very little action for anything in the premarket, except GC that had just a small bullish movement.
NQ showing more indecision in the first few minutes of the open and low volume like we saw back in June. May be mostly watching for the rest of the day. The market is just too choppy for my strategy so far today. Have to stay positive and open for anything.
COB Recap
After my third loss on CL I had to follow my rule this time and stopped. That was followed by, about an hour later, taking a paper trade on CL that worked like a charm. I really messed up with that mistake premarket but what stuck out more to me is I the volume. Creating a new rule now to not take any trades on CL or GC if the volume is below 100K. Still trying to decide for NQ because it can push for decent opportunities on less than 100K volume as confirmed by my studies last night.
Another losing day. Tomorrow primary focus going back to NQ. Should have been the primary focus for today. Another day where I successfully managed my risk so I’m still alive to trade another day! There’s always tomorrow.
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Comment below with your opinions and questions.
Rob
Mv3 Trader
“Trade Consciously”