May 22, 2018 – Scalp City Y’all

Premarket Insight

Logged into my platform to see NQ had started a really nice bull run since 3:30. At this time (6am) it’s up more than 20 points and still going. However, volume is lower than yesterday. Interested to see how this unfolds throughout the rest of the day.

Already checked the economic calendar for events happening today. Nothing highly significant to be aware of today according to investing.com.

 

At the Bell

So unsurprisingly, after that nice bullish move before 6am, the market pretty much died and practically traded sideways until the open bell. Only attempted on premarket trade for a small loss.

 

COB Recap

Bright note of the day, all this choppy lack of energy in the market is definitely helping me improve. I missed one 1R play from miss-judging price movement, which isn’t hard to do in this market, but I am getting much better with my execution. Now if only the market momentum could return to what we were seeing about a month ago. Would really love the volatility we saw back in February. #Ready

 

There was one more play at 11:44 but for some reason couldn’t get TraderVue to display it on the chart. Will put link to this trade below.

Rob

Mv3 Trader

“Trade Consciously”

 

May 21, 2018 – Thank God It’s Monday #TGIM

Premarket Insight

Only spent a little time over the weekend getting some practice. Spent most of the weekend working on other business and enjoying family time. Good to relax and unwind to get mentally prepared for the upcoming trading week.

NQ gaped up to Friday’s open over the weekend and had a pullback of about 30 points into the gap before the start of my trading time. Price action really slow in the first hour of my trading.

 

At the Bell

Price continued to bounce around in the premarket until a nice bull move about an hour before the open, giving me two decent scalps before the bell.

Right out the gate, the market took off bullish almost making me wish I didn’t have the no trading first 10 mins rule. (LOL) But have to be patient here. It’s early and this should mean plenty of good opportunities to come.

Could have taken a reverse on the strong open market bull move but decided to not take it as it’s not part of my normal strategy. Would have worked out as long as I stayed disciplined to my stop and got the best entry, so good decision to pass up on it. Would have been too stress inducive.

 

COB Recap

Market practically went to sleep after strong open, hanging around in a tight range forming a bearish channel. Attempted 2 scalps resulting in losing premarket profits.

Took a peak at ES (S&P Futures) which would have been a much better trade today. What to do, it happens. At this point, 1 more hour to go before lunchtime. Maybe an opportunity will present itself within the hour. (fingers crossed)

And less than 10 mins later, was able to catch a nice scalp as NQ took a dive. Missed second opportunity from not fact checking info put out in chatroom about 11:30 fed news. Turns out that news was predicted to have limited effect on the market according to the investing.com economic calendar. Lesson: Always fact check info from others.

 

Click Image to see details of this play on TraderVue.

Rob

Mv3 Trader

“Trade Consciously”

 

May 18, 2018 – Lack of Disciplines Gets You Nowhere

 

Premarket Insight

Saw major selloff from the high of yesterday after lunch. Hoping this translate well into some momentum in the market today. Nothing interesting on the economic calendar that could give energy to the market. Logging in to my platform today, seeing the same low volume and not much movement on the chart. Let’s see how this unfolds between now and the open.

Volume relatively low across the board.

 

At the Bell

NQ went for a deep dive after 8am, strongly breaking the support and easily passing yesterday’s close. Caught a quick scalp off this move. NQ dropped more than 50 points in the premarket. Right before the open, price bounced off daily support. Volume didn’t climb much before the bell but could be a very interesting day…

 

COB Recap

RLT chatroom revealed premarket selloff more than likely due to today being expiration Friday for options. Makes sense and explains a lot because it was pretty much dead after that. Noting to keep track of third Friday of the month from now on (this is when all monthly options expire).

Over-managed first play after the open. Practically broke even for the day, red day if you include fees.

For the most part today, price was really choppy. However, due to the big move premarket, could have took scalps trading between the channel. I have noted this for next time and take some time this weekend to practice.

On a positive note, ended the week green a little over 1R. (click this link to learn what I mean by “R”)

 

Two poor disciplined scalps.

 

Rob

Mv3 Trader

“Trade Consciously”