Got to my desk late today, been a busy day. Upon logging in noticed there’s been a ton of action in the aftermarket. Only thing on the calendar today is Philadelphia Fed Manufacturing at 08:30 which I’m not expecting to have much of an effect on the market.
At the Bell
Took two small winners in the premarket. See my click the image below for access to my Tradervue profile to see the details of those plays.
NQ had an expected dip in the after-hours leading to this bullish pop continuation at the bell. Not long after price dropped hard blowing past previous support.
COB Recap
Finally! Ended the day early with a decent green day. Could have been more but not complaining. All the previous days of struggling finally paid off as this has been the best I’ve ever played the market. See my biggest play of the day below and click the image to get the full play-by-play of my day.
Normal plan for today, play GC and CL in the premarket, NQ after the bell. Nothing exciting going on this morning. Everything seems to be just business as usual.
On the calendar today is some Fed news right at the bell, should be a very interesting open. Have to make sure I stay disciplined to my 10 min rule even though it went against me yesterday. Also, not as exciting IMO, Existing Home Sales at 10:00 EST.
At the Bell
Had a easy, quick play on CL in the premarket, however GC ate up all of that profit chopping around. On the 1st play got filled in on nasty wick before it proceeded to march back to my stop. In hindsight, probably should have just closed the trade when I saw the wick since I pretty much felt it was going to be a loser.
NQ continued a slow bullish climb into the open before bouncing around a bit at the bell for a nice bull pop that could have given me a scalp. 10-minute rule got me again but I’m sticking with the rule looking at the big picture.
COB Recap
Somehow, I completely forgot about the 10:00 EST news which made sense why the market had no energy. Tons of indecision.
Welp! Took another beating from the market today. But I’m down, not out. Actually, got some good insight from the chatroom I’m a member of (RealLifeTrading) that was pretty much to do the opposite of my normal strategy on super choppy days like this. I reviewed the market with that insight and it was on point! A major difference between an up/down red day and a green day with ease.
Good thing I had that win with CL earlier to ease the pain a little. I will give the market the victory today and live to fight (trade) another day. Tomorrow. ?
Trump does it again! Apparently, a news event based on another infamous Trump action caused the markets to take a dive after the close of Monday’s session. Imagine my disappointment when I logged into my charts first thing in the morning to see a move I’ve been waiting on for weeks to happen while I was sleeping.
At the beginning of my trading day, NQ down +75 points (1.04%), currently retesting the selloff. As expected, volume is healthy with more than 81K of volume. Nothing else super interesting on the calendar, except Building Permits as reported by investing.com. Will be interesting to see how the day unfolds.
At the Bell
Didn’t get any signals in the premarket so no trades placed. Only took a paper trade on GC with a play that will be used in the future.
As expected, NQ hung out sideways after the aftermarket selloff and popped strong bullish at the open. Staying disciplined to 10 min rule and not taking a play yet. It’s still early, there’s a good chance there will be another opportunity sometime throughout the day.
COB Recap
Long story short, days like this I really regret missing trades on previous days. Took a major loss today of more than 2R on my first 3 plays. Also, frustrating that if I didn’t have that 10 min rule, my strategy would have been perfect for the bullish pop at the bell. But that rule is there for a reason. Have to remember I’ve had more loses than winners in that timeframe so better to just let those potential plays be. Honestly, I should have known better than trying to go bearish so aggressively with how far the price had already dropped.
However, even with the struggles and size of this red day, still ended there was still some positives. For one, I didn’t make any mistakes in regard to how to play my strategy. If I had traded like this previous days, today wouldn’t matter much. Secondly, I did confirm that I know how to adjust for these choppy days as I was profitable paper trading with those adjustments. Go figure.
