Jul 10, 2018 – Progress

Premarket Insight

Doing my premarket analysis a bit late today. I was setting up a chartbook for studying in my new platform and had to make sure I still made time for some yoga. At this point, with a new broker, I’m thinking what I will do with my previous broker. The commissions and fees are low, and they are still a good broker, I just don’t like their platform for day trading. I’m starting to study an idea I have for swing trading futures.

For the market, so far volume is pretty normal. Not much has happened on my daily watchlist (NQ & CL). Pretty much a bunch of chopping around. Patterns are still present to signify it could be a pretty interesting day when the crowd comes in.

Only thing on the calendar today is JOLTs Job Openings at 10:00 EST.

 

At the Bell

Caught one play in the premarket on some choppiness in CL. NQ still bouncing around but did have a bearish play after 07:30 EST that I could have played.

In the first few minutes of the open, NQ looks to be starting a fade as it’s ETF partner QQQ gapped up in the after-hours. Watching to see how far this goes. Was hesitant on another CL play with all the choppiness and missed an entry after the bell.

 

COB Recap

Market continued to chop around for the better half of the morning, yet I was able to end my day an hour early in the green with 50% accuracy. Even though my profit for the day was small at $205 I’m very happy because it wasn’t too long ago that days like this resulted in a day with a whole heap of red. #Progress

 

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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 9, 2018 – Simple Beginning

Premarket Insight

Monday is here again and an exciting one for me. I was finally able to open an account with AMP Futures and today will be the first day I trade using Sierra Chart. I prefer this platform because it allows me to trade from the chart with some additional features for executing my strategy. Being overseas creates some challenges with setting up accounts with certain brokers, which is what took me so long to get this account with AMP. I will write an article about setting up an account for U.S. residents living abroad later.

Now, for the market, along with the continuation of the trade war drama and Fed news, this week kicks of Q2 earning season with some major banks (JPM, C, and WFC) reporting Friday. Nothing sticks out on the calendar today, but this should definitely be an exciting week.

We’ve already seen some significant action from CL (bearish) and NQ (bullish) before 06:00 EST on decent volume with it being so early. I’m all setup and ready to execute my trades with discipline and consistency.

 

At the Bell

Got off to a rough start, taking a loss followed by missing another one that would have been a winner on CL. CL and NQ mostly chopped around in the premarket after their early movement before 06:00 EST. So far for me it’s just been lesson learning. Now waiting for the next setup.

In the first five minutes, NQ continuing its bullish climb pretty strong.

 

COB Recap

Everything pretty much just bouncing around today. Missed one play that would have hit target on CL but was able to catch the below play on NQ after it retested the previous resistance. Ended the day kind of early after that play just taking a couple more paper trades and watching. Could have been better had I got the two plays I missed on CL but I’m starting the week and my first day in the new trading account in the green so I’m not complaining.

 

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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 6, 2018 – Buy the Dip

Premarket Insight

Ended up not taking a live trade on the Fed news yesterday. The volatility that we usually see on Fed news was not present yesterday. But I did paper trade it for some profit, with one of the plays stepping a bit outside of my rules entering earlier than my strategy would indicate. That decision was based off a stronger indicator that I’ve come to be familiar with through my experience. However, I still would have been profitable sticking strictly to my rules.

Also, I’m getting a bit of a later start to my day today because my neighbors decided to play with their tools during the time I’m usually sleeping. However, I’ve been thinking lately to push my start time back to 8am EST since this is the time when the real volatility typically enters the market. I’ve seen the best opportunities happen after this time. Plus, when I return to the states this will be my start time anyway.

Today volume has returned to normal with a bit of choppiness for the instruments on my watchlist. On the calendar today is Non-farm Payrolls and Unemployment Rate both at 08:30 EST.

 

At the Bell

The market had a huge reaction to the 08:30 news mentioned above, NQ jumped more than 30 points in 5 minutes. That huge spike was followed by a pullback of half of that bullish move.

I ended up not taking any trades in the premarket. I missed one that would have resulted in a 10-tick profit. Looking for the next one. More than likely will only be playing CL today.

 

COB Recap

Missed another one on CL when it had a super big pullback to an area that confused me before shooting up hard more than 70 ticks in 10 minutes. Then it chopped around for a while. Just watching, NQ was chopping bullish after the bell.

Then they both popped, and I caught the pullback on NQ. I never really got the setup I wanted on CL, so I looked over at NQ and bought the dip. Finally ending the day with decent profit of $320. Should have been much more but I cannot complain at all.

Have an amazing weekend everyone!

 

7-6-2018-nq-buy-the-dip
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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”