Premarket Insight

From yesterday and doing some back trading research this morning I discovered my stop needs some attention. I haven’t been very disciplined with sticking to the stop plan built into my trading plan/strategy. I will fix this today.

At the Open

The market opens up with another fresh session of choppiness after a crazy surge premarket what looked to be a response to CPI report @ 0830. Took one play that failed. Now just watching for a while seeing how this 1st hour will play out. Staying patient for the best setup.

COB Recap

So it was another frustrating day of no decent volatility as NQ continued a slow choppy bullish climb keeping me pretty much flat for the day. Even though there was a little movement I didn’t get the setup I really wanted so I decided to stay on the sidelines and just watch.

And as I’m typing this, looks like the market is making another strong lunchtime push bullish. This makes no sense to me as lunchtime is usually one of the worst times to trade. People don’t eat??? Maybe this is somehow related to the low volume and volatility.

Any thoughts? Feel free to leave a comment or suggestion below.

*UPDATE: Turns out people were only getting some lunch money as it didn’t continue to push from the pop. Gave a 5 min shooting star before falling hard.

Rob

Mv3Trader

Not sure what the deal is with all this choppiness in the market. I know my experience is limited with my short time of trading, but I’ve never seen an earnings season this choppy.

I was actually thinking about this before my trading time this morning and I feel it is a combination of fear with all the recent volume plus the amount of mixed news coming out. I even read something in a chat that mid-term elections could be having effect on market. Basically, there’s so much going on at one time it’s causing indecision in the market.

Some people are having pretty good success scalping equities, but since I’m trading futures of the overall market, makes things a little tougher for me.

Then finally the market decided to take off bullish at lunchtime. Days like this are so frustrating. Hopefully this is good news for tomorrow. The crazy thing is my last trade, I was actually in this move but had my stop too tight based off my strategy and stopped watching due to it being so close to lunchtime.

Had I risked more the feeling would be much different right now. Instead, what happened is it pretty much bounced off my stop before continuing the move bullish. you can check that play in the image below.

Rob

Mv3 Trader