Stop Loss Dilemma and Distractions – Aug 24, 2020

“YOU’RE OFF TO GREAT PLACES, TODAY IS YOUR DAY” – DR. SEUSS

PREMARKET ROUTINE & THOUGHTS

  • Morning routine of yoga and meditation done
  • Not going to go into details, but feels like I’m getting too much negativity thrown at me this morning
  • I am bringing positivity into the market and my trading 😊
  • I am focused and prepared to execute my strategy to perfection
    • READY!

Remember the setup DOES NOT have to be PERFECT.

Livestream Insert

Could have called an audible here off the bounce of pivot, confirmed by 161.8 Fib line, that we can see on a 30 min chart.

The entry
30 min pivot point

TRADING NOTES

08:58 – Volume is relatively high in this today’s premarket session in comparison to previous trading days

10:05 – Just realized I my mic was off when I was talking at 38:30 of the livestream, explaining the trade I took on Ninja Trader. Looking at the zone I marked on the chart. I took a trade long but quickly stopped out after a tiny bounce. Still have some things I need to get used to and be aware of, streaming with OBS.

CLICK THE IMAGE TO WATCH OR SCROLL UP AND WATCH THE LIVESTREAM

10:10 – [THOUGHT] Technically, my strategy says switch to short plays, but I’m still seeing better opportunities long, even though it may not be the easiest thing to trade with all the new resistance.

10:14 – [HINDSIGHT CAPITAL] Missed an entry at 604 thanks to various distractions… Too many distractions today, especially with painting and dogs earlier.

10:29 – That trade had the direction right, just wrong time and not the best entry for my hard stop loss. One of the reasons I really prefer using price structure for placing stop loss over a hard point-based stop loss.

10:30 – [INSIGHT] The price structure stop loss typically comes with more risk but it would have worked out here. Hard point-based stop losses, you lose more often but the losses are defined and typically smaller. However, executing my entry correctly at the prime location makes the hard point-based stop loss more effective.

10:30 – SIGNING OUT. TRADE IT EASY!

 

Rob

Mv3 Trader

“Great Trades Come From Within”

 

For real-time insight follow me on Twitter! @Mv3Trader

Comment below with your opinions and questions.

Missed Opportunities, Distractions – Aug 21, 2020

I AM GRATEFUL AND HIGHLY BLESSED! I AM FOCUSED!

PREMARKET ROUTINE & THOUGHTS

  • Meditation done this time without the yoga session, trying out a meditation guide on Audible
  • Feeling energized, calm and ready to trade well
  • Raining outside and I like the ambience of it. Wouldn’t mind a hard rain while I trade
  • Focused and know exactly what I need to do
  • Let’s goooooo!

Remember the setup DOES NOT have to be PERFECT.

TRADING NOTES

09:20 – After today’s session I want to play around with hotkeys. Saw some interesting videos on YouTube about NT8 hotkeys last night

09:25 – Interesting v-shape pattern premarket

09:34 – Looks like we have a lot of buyers sitting at the 470 area. Removed original order to give them another shot at pushing the price higher before attempting to take a quick short. Thinking if we get filled down there we can eat the stops (hard and mental) of the buyers

09:36 – Scalp play worked, runner got stopped out for a small loss overall. [HINDSIGHT CAPITAL] Would have been better to take that one at the break into the wick of the previous candle.

09:41 – Looks like bears are going to have a big fight on their hands this morning. any short play needs to be aggressive at the best price

09:46 – Lack of confidence in the NT8 order but want to pull the trigger so took it in Sierra sim. Still working on my limit order placements

09:48 – Wife being kind of loud rn while cooking.. a little distracting. Need a secret cave to trade in lol

09:51 – Glad I didn’t hold that order in NT8. Would have better to play the price action over the indicators I was looking at. Play still looks long but choppy

09:53 – [RANDOM THOUGHT] Interesting how perspectives change. Friday’s used to be my favorite day of the week with dreadful Mondays.. Now completely the opposite.

10:00 – Distracted myself with making a Twitter post. Psychological regroup

10:10 – Up to this point the pivot point at 469 has been a reliable buy location but could break down if price continues to retest.

10:14 – I made the mistake of allowing myself to get distracted with another livestream on YouTube where they were having a low frequency conversation about coronavirus. Almost got involved but made the better decision to just remove myself from that waste of energy.

10:19 – Potential breakout into ATH above 500 but I don’t like breakout plays anymore.

10:24 – Setup looks so beautiful but the fact that it’s a breakout I passed and now kicking myself. Maybe I can get a retest…

10:30 – SIGNING OUT. TRADE IT EASY!

 

Rob

Mv3 Trader

“Great Trades Come From Within”

 

For real-time insight follow me on Twitter! @Mv3Trader

Comment below with your opinions and questions.

Missed the Train – Aug 20, 2020

THE POWER IS WITHIN!

PREMARKET ROUTINE & THOUGHTS

  • Premarket volume check was done at 09:22
  • Yoga meditation mix done for about 15 mins
  • Had a brief family time this morning before getting started
  • Feeling good feeling great, how are you?
  • READY?! SHIIIIT YEAA!!.. I’M READY!

Remember the setup DOES NOT have to be PERFECT.

TRADING NOTES

09:32 – Not a fan of that first 3 min candle. Sidelining for now… But nice bounce off 261.8% Fib line (screenshot)

09:37 – Bulls jumping out the gate super strong. Feel like I would have needed to be a permabull to catch it. But it’s not part of any of my setups or my plan so I have to sit and wait for my opportunity. Taking this time to check some headlines.

09:41 – Feel like this is a great day for a practice mode session. Will replay it either later on today or over the weekend.

09:46 – [HINDSIGHT CAPITAL] Would have made since to take an aggressive play, looking at the 1 min chart, on the pullback @ 315. #PowerRange

09:55 – [MESSAGE TO NQ] So we just gonna take off with no pullback huh?.. lol

10:01 – Entry possibility notes (screenshot)

10:03 – Stepping away from desk to get some tea. Safe place to take a break since I’m going to be waiting for a while for a good opportunity

10:13 – Eyeing zone 344 – 333…

10:26 – [HINDSIGHT CAPITAL] Could have been at least scalp play at 350 based on 3 min pivot created around 09:48

10:30 – Cutting off video recording here so I can start the process to upload to YouTube and the website. If a trade is place, will post results on Twitter and add screenshot to journal.

TRADE IT EASY!

 

Rob

Mv3 Trader

“Great Trades Come From Within”

For real-time insight follow me on Twitter! @Mv3Trader

Comment below with your opinions and questions.