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”

 

May 17, 2018 -Three Strikes and You’re Out (Premarket)

Premarket Insight

Started my day to see the market had a pullback from yesterday’s close about 0.40%. I didn’t give much attention to the market or my trading strategy and execution as I was working on one of my other businesses before my trading time. Checked investing.com to see Fed news @ 8:30 ET.

 

At the Bell

Bummed out, low volume in NQ again. (sad face) In true low volume fashion, price bouncing around a lot. Price just too choppy in the premarket even for my scalp strategy to work out. Stopped after taking 3 losses in a row. 8:30 Fed news just resulted in quick bear move before reversing slowly. After COB I will review these plays to check accuracy of my execution.

 

COB Recap

Nice bullish run after the 1st 10 mins of the open market. Was able to catch a good scalp, eyeing the right place to exit before a significant pullback. After bouncing back bullish, saw price was catching strong resistance at the previous day’s close. waited for the best setup before entering for another scalp. Much better action than premarket. Nice and smooth, just like I like it!

 

Check out 5-minute charts of premarket and open hour plays below.
Third strike out for the premarket. In hindsight realized this play was too aggressive. Should have paid more attention to the 5 min.
Two successful open market scalp plays.

 

 

 

Rob

Mv3 Trader

 

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