May 16,2018 – Just Another Day at the Office

Premarket Insight

After the major bounce off resistance today and hearing about some news of analysts predicting this is the top of the market, expecting a “the sky is falling” sentiment with some bears coming in to play today. But as always staying ready for anything. Anything is always possible in this market. May even do a little paper trading in TOS just to get some live practice in, like a scrimmage in sports.

 

At the Bell

Market looked to be pretty much opening at yesterday’s close before a crazy bull surge 15 mins before the bell. This after the priced bounced around a little premarket not really taking any particular direction. Volume a little lighter than yesterday. Only took two plays premarket from also doing a little market research and seeing the indecision of the market.

 

COB Recap

Not really much action today before lunch. NQ continued bullish about 30 points (+0.45%) choppy before a pullback. managed to grab 1 scalp on a new HOD breakout. Thought it was going to be a false breakout resulting in a loss but staying disciplined allowed me to capitalize on the move. Check out this play below share from my TraderVue.

 

**Go figure, the price took off strong bullish right before lunchtime again. Yaaaay…. (cue sarcasm)


 

Rob

Mv3 Trader

 

May 15, 2018 – Practice Makes Perfect

Premarket Insight

Spent the night last night thinking about how I can take advantage of this choppy, slow market. Got the idea from RLT Futures chatroom of coming up with a way to scalp. (Major benefit of being part of a community of traders) After developing a solid scalp strategy used the back trading OnDemand feature in TOS to practice and verify validity before I went to sleep and this morning before trading. Will not make any active trades until the market opens today.

 

At the Bell

Looks like my good ole friends, volume and volatility, are returning to the market. During premarket action NQ had a major drop of 50+ points (200 ticks). Expecting things to be very interesting in the market today. Long term, wondering how far this pullback goes…

 

COB Recap

Bears continued strong into first hour of market. Was expecting some sort of pullback since it pushed so hard premarket, which never happened, so missed a couple good scalping opportunities. Proof that no matter what you are never smarter than the market.

Hindsight, could have just traded normally today with the volatility and volume returning to what’s been normal this year. However, did manage to get some small wins resulting in a green day. Also, using Trading View, took a paper trade going against the trend, testing the strength of my scalp strategy. See the results below:

Rob

Mv3 Trader

 

May 14, 2018 – Costly Mistakes

Premarket Insight

Spent some time this weekend getting some practice in using Think Or Swim’s back trading feature OnDemand. (Will review this and the platform later). Wanted to focus on perfecting my execution and looking for best setups. Today the focus will be on just that. The goal is to not have any mistakes this week.

 

Looking at NQ, it gapped up about 15 points (61 ticks) over the weekend. The volume is low and price action seems a bit choppy similar to last week. Also, light volume with other futures contracts (GC, CL, and 6E).

 

At the Bell

Missed an opportunity to take a bear play premarket. Decided not to take it because it wasn’t the best setup that I was looking for. Wouldn’t have been an easy trade so it’s all good.

 

EOD Recap

Starting the week off really weak NQ only had a small push bearish at the open pushing strong off Friday’s high. However, I was unable to capitalize having only myself to blame. First play got in too early resulting in a stop out. Then re-entered at a great location, at the break of 7200. My mistake here was lack of patience and not letting it play out. Let fear get the best of me instead of just trusting the process. Feeling the pressure from all the losses last week. (sigh) Robot trading is a must.