30 Jul, 2018 – Tug-a-War

Premarket Insight

Looks like I’m not the only one excited for the return of Monday as we’re already seeing strong movement in the market thanks to the Asian and European markets. On my watchlist, CL has already jumped more than 100 ticks (1.07%) before 08:00 EST.

NQ continued a small bearish at the open of the Futures market before a bit of retracement, bouncing off Friday’s close. I’m predicting QQQ opens gapped down and we continue to head south at some point after the bell. Still overall a bullish market, but some retracement on the daily makes sense here, in my opinion.

My weekend study shows I have majorly underperformed my strategy, revealing I should be well beyond my $10k goal I set at the beginning of the month. A bit disappointing in my performance but highly encouraging seeing the potential. I will be locked in today, focused on consistency and discipline, keeping with the plan of taking my first trade after the bell.

On the calendar today, Pending Home Sales at 10:00 EST.

 

At the Bell

So, I was off with my prediction for QQQ. It did not really gap down. QQQ basically opened where it closed but the bears were strong at the open, so my sentiment was right. I haven’t taken a trade yet, waiting for the appropriate entry based off my strategy, even though hindsight says I could be in the green already. No sweat, it’s still early.

CL still moving bullish.

 

COB Recap

Well, that totally sucked! After the first huge drop that I missed from not getting the proper signal the choppy price action was horrible. Ended up taking an overly aggressive trade expecting continuation (instant regret) taking an unnecessary loss. Then was only able to take some scalps before I took the hint and just switched over to paper trading the rest of the day to entertain my boredom.

Not a thing happened with NQ or CL, which I’m not so surprised by CL since it moved so strong in the premarket. Not too many traders would be eager to get in at the top of such a strong move and would be hesitant of fading here without motivation from a decent breakout move bearish that we never got. There’s always 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”

Jul 27, 2018 – Caught Up

Premarket Insight

Another day of earnings down… and not a thing to show for it. This has been the most uneventful earnings season I’ve seen since I started day trading. AMZN earnings were released with very positive results yesterday but it did very little to move the market. Even in the after hours, Nasdaq Futures (NQ) only climbed 30 points (0.46%) at its peak with was only a touch and drop.

All this after the market was virtually dead yesterday during market hours, trading sideways with analysts over-hyping the tiny dip off FB earnings. Listening to CNBC would have something thinking the market dropped a whole 100%. Note to self, only listen to market news for pure entertainment. (That’s what it is anyway)

Looking forward, more earnings on the dock today with TWTR making headlines early as “sinking sharply”, which is actually very accurate, dropping 10 points in the premarket from disappointing earnings report.

Also, plenty more to bring some reviving life into the market with continued trade talk between U.S. and China, Crude Oil, and GDP to be release at 08:30 EST. Keeping a positive outlook on the day ahead.

 

At the Bell

Too much information dealing with earnings, GDP and Trump news kept me out of the premarket action, which is a good thing since the result was a whole heap of up/down action.

Major selloff in the opening 10 minutes after the bell but didn’t fit the setup I look for so no trade. Patience and good execution is the name of the game for me today.

 

 

COB Recap

The selloff continued, and I was able to catch some love once my indicators finally caught up. Took some hits on CL’s choppiness but made it all up with a nice continuation play on NQ. After that and seeing how my strategy was slowly reacting to the market, decided to call it a day early and just end the week on a positive note.

Have a great weekend everyone!

 

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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 26, 2018 – Earnings Galore

Premarket Insight

Yea… So… Yesterday’s afternoon didn’t quite play out so well for me. Market surprised me with a super strong bullish pop on the US-EU trade news, thanks Trump, which I missed all of. Almost caught one last pop but too slow. Then on a disappointing FB earnings, not a thing happened only catching a scalp before the market was halted due to major 50-point selloff off from the earlier surge. Oh well, there will be plenty of more trades to take. Should be interesting how this affects the market today.

Other than that, more earnings are on deck to be released today with 74 of the big names coming from the S&P before the open to include McDonalds (MCD), Mastercard (MA), and Southwest Airlines (LUV). However, what will most likely be in most traders’ sights today is Amazon (AMZN) to be released after the closing bell. Coming off the NASDAQ, Amazon will have plenty of company from Starbucks (SBUX), Electronic Arts (EA), Chipotle (CMG) and more.

On the calendar today, Core Durable Goods Orders at 08:30 EST, which I’m assuming will not make an significant impact to the market today with today’s earnings lineup.

 

At the Bell

Coming off two days where I stopped trading too soon, missing moves that would have turned my red into green, my main focus today will be taking every good setup until lunch. This is why I opted not to take any premarket trades, conserving that focus and energy for the normal U.S. market hours.

I’m at a point now where I’m confident enough in my strategy to where I should be able to find success in a strong trend or indecision. Physical fitness done. Meditation complete. Positive vibes and outlook.

 

COB Recap

Got off to a crazy start! First two trades resulted in a profit of $20 for the day before I realized they were place on my paper trading side. (LOL) The one and only time I’ve ever been happy I did not hit my target on a trade.

After I got my platform together to trade from my live account, only took two scalps on NQ in a very slow grind as the market wasn’t moving anywhere. CL was also low on energy, barely trading in a tight range, lulling me to sleep before it finally popped around 10:40 EST, in which I missed. Taking my small profits here just for the green and I will be back later for the AMZN earnings report. Good to finally see some green on the screen after a long cold streak.

 

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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”