Rob Will

Jul 17, 2018 – Broken Rules

Premarket Insight

Yea so… The market was apparently waiting for the NFLX earnings report since the volume came flooding in after the report taking a complete nose dive. NQ dropped a whole 58 points (0.79%) in about 15 minutes. I did take one play on NQ after the lunch break taking another loss before just hanging it up for the day.

So far today at 06:30 EST, volume looking about the same as yesterday. Contemplating switching my main focus outside of CL to GC or 6E (Euro Futures) since I have solidified my strategy for those. Still, primary focus is on playing CL.

On the calendar today, Fed Chair Powell Testifies at 10:00 EST. That should be very interesting. We shall see…

At the Bell

Took two losses on CL playing the pennant pattern bullish before the big drop at 09:00 EST. One-minute price action made it hard for me to get in on that drop where my strategy would typically place my entry. Then missed second opportunity that would have resulted in at least a scalp due to a bathroom break. Sometimes I feel like someone in the market is watching me… LOL

That 09:00 timeframe also saw a lot of selling pressure in NQ and GC. Got a successful paper trade on GC. I’m a paper trading master. If only my live trading went the same (haha).

First ten minutes saw the bulls run over all those 9am bears in a major retracement. Will be waiting patiently for a good entry, playing CL and NQ as usual. Tomorrow planning to go live on GC.

COB Recap

Broke my 3-strikes rule and paid heavily for it. After the fourth loss stopped and reviewed my plays to see I was off my game again today. Even took a play where I risked more than my plan, not even sure how that happened. As far as I can remember I just remember moving stop to lessen the risk, but I guess not. I really hate making mistakes like that.

From my review I should have never taken a loss until maybe a continuation play after pullback. Not sure why I’m so off so far this week but this has to change. It’s currently 10:40 EST and I’m done for today being way too far in the red, already taking too many losing trades. Need to stick to my rules.