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.

May 11, 2018 – Give Me a Break

Premarket insight

Continuing with failure to capitalize off bull grind yesterday is exposing holes in my trading execution. Took a significant amount of time this morning (as well as brainstorming last night) to do some back trading to develop a plan to clean up my weaknesses. Discovered I need to pay more attention to the daily trend as well fix some areas of my risk management. Developed a plan and ready to move forward.

At the Bell

Premarket action gave some good opportunities that I was able to take advantage of putting me green at the open. BUT the 1st hour stayed consistent with all the choppiness resulting in me giving up premarket profit plus some. Also, it didn’t help I made some mistakes. Gotta get rid of these mistakes. All day price has been bouncing between the high and the close of yesterday probing for a break of both but never holding the move.

 

COB Recap

As of lunchtime, the price stayed consolidated. Price action was so crazy my risk management strategy wasn’t safe, resulting in a small winning trade to turn into a loss. Was trying to stay disciplined and literally paid for it. No wonder the market gets such a bad rap… #Frustrated

 

Rob

Mv3 Trader