Jul 18, 2018 – Show Me the Volume

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”

 

Jul 17, 2018 – Broken Rules

Premarket Insight

Yea so… The market was apparently waiting for the NFLX earnings report since the volume came flooding in after the report taking a complete nose dive. NQ dropped a whole 58 points (0.79%) in about 15 minutes. I did take one play on NQ after the lunch break taking another loss before just hanging it up for the day.

So far today at 06:30 EST, volume looking about the same as yesterday. Contemplating switching my main focus outside of CL to GC or 6E (Euro Futures) since I have solidified my strategy for those. Still, primary focus is on playing CL.

On the calendar today, Fed Chair Powell Testifies at 10:00 EST. That should be very interesting. We shall see…

 

At the Bell

Took two losses on CL playing the pennant pattern bullish before the big drop at 09:00 EST. One-minute price action made it hard for me to get in on that drop where my strategy would typically place my entry. Then missed second opportunity that would have resulted in at least a scalp due to a bathroom break. Sometimes I feel like someone in the market is watching me… LOL

That 09:00 timeframe also saw a lot of selling pressure in NQ and GC. Got a successful paper trade on GC. I’m a paper trading master. If only my live trading went the same (haha).

First ten minutes saw the bulls run over all those 9am bears in a major retracement. Will be waiting patiently for a good entry, playing CL and NQ as usual. Tomorrow planning to go live on GC.

 

COB Recap

Broke my 3-strikes rule and paid heavily for it. After the fourth loss stopped and reviewed my plays to see I was off my game again today. Even took a play where I risked more than my plan, not even sure how that happened. As far as I can remember I just remember moving stop to lessen the risk, but I guess not. I really hate making mistakes like that.

From my review I should have never taken a loss until maybe a continuation play after pullback. Not sure why I’m so off so far this week but this has to change. It’s currently 10:40 EST and I’m done for today being way too far in the red, already taking too many losing trades. Need to stick to my rules.

 

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For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Jul 16, 2018 – Scalp Master

Premarket Insight

Monday has returned for a week that should be jam packed with volatile action. Of course, there’s the continuation of trade wars, but the bigger highlight is the first big week of Q2 earnings week with market moves such as Bank of American (BAC), Netflix (NFLX) and Goldman Sachs, among many others, reporting this week.

Also, the Trump-Putin Summit today, Fed news on Tuesday, and China’s Q2 GDP are additional headlines that could give the market a strong push in either direction. As always, my motto is to be ready for anything.

CL got a strong start early, already down more than 70 ticks as of 07:00 EST. Even though CL got the strong start, volume across the board is pretty light.

On the calendar today, Retail Sales and Core Retail Sales at 08:30

 

At the Bell

Only got a small winner off CL on a continuation play after missing the first possible play that would have been a winner in the premarket. Then, out of my mind, took a play on CL right at the open at 09:30 EST that was an immediate loser. Don’t know what I was thinking about taking a play at the bell like that.

NQ mostly bouncing in the premarket and jumping long out of consolidation in the first 5 minutes of the open. Volume still weak, especially on NQ.

 

COB Recap

Completely off my game today. Missed all the would be target plays and only caught some scalps. Even a play around 11:30 EST that would have hit target and got me back in the green today. Took it in a paper trade with ease that quickly worked out.

Should have ended the day up more than $1,100 but best I can do at this point is take it as another learning lesson and do better next time. Having off days is just part of the game. Hoping the stars will be aligned in my favor tomorrow.

 

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For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”