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.

 

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Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Jul 16, 2018 – Scalp Master

Premarket Insight

Monday has returned for a week that should be jam packed with volatile action. Of course, there’s the continuation of trade wars, but the bigger highlight is the first big week of Q2 earnings week with market moves such as Bank of American (BAC), Netflix (NFLX) and Goldman Sachs, among many others, reporting this week.

Also, the Trump-Putin Summit today, Fed news on Tuesday, and China’s Q2 GDP are additional headlines that could give the market a strong push in either direction. As always, my motto is to be ready for anything.

CL got a strong start early, already down more than 70 ticks as of 07:00 EST. Even though CL got the strong start, volume across the board is pretty light.

On the calendar today, Retail Sales and Core Retail Sales at 08:30

 

At the Bell

Only got a small winner off CL on a continuation play after missing the first possible play that would have been a winner in the premarket. Then, out of my mind, took a play on CL right at the open at 09:30 EST that was an immediate loser. Don’t know what I was thinking about taking a play at the bell like that.

NQ mostly bouncing in the premarket and jumping long out of consolidation in the first 5 minutes of the open. Volume still weak, especially on NQ.

 

COB Recap

Completely off my game today. Missed all the would be target plays and only caught some scalps. Even a play around 11:30 EST that would have hit target and got me back in the green today. Took it in a paper trade with ease that quickly worked out.

Should have ended the day up more than $1,100 but best I can do at this point is take it as another learning lesson and do better next time. Having off days is just part of the game. Hoping the stars will be aligned in my favor tomorrow.

 

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

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Jul 13, 2018 – Saved by the Oil

Premarket Insight

Getting started a bit late today in terms of looking at what’s going on with my daily playlist. Spent all morning back trading working on my strategy for currencies. Currently just focusing on Euro forex futures (6E). May go live with this strategy soon in my Generic Trade account since this strategy will be more hands off. Kind of like swing trading intra-day.

Speaking of Europe, NQ and CL has had decent bearish moves in the European market hours starting after 02:00 EST. There’s nothing on the calendar today, but as I mentioned Monday, today starts the Q2 earnings season with major banks reporting today. Should be enough to bring some volatility in the market. Maybe the S&P (ES) more than others. As always, staying ready for anything.

Goal today is to trade fearlessly, taking every opportunity I can catch based off my strategy.

 

At the Bell

Didn’t catch any action in the premarket. CL took off for what could have been a winner right at the start of my day. Mixed earnings reports from the banks resulted in a lot of indecision from the ring of the bell. Volume is present but seems as if the volatility started the weekend early.

 

COB Recap

Got back in the green with my last play on CL. Stopped taking plays on NQ after the 2nd loss and realizing there was too much indecision in the market. Would have really helped if I would have been paying attention and caught the short play I saw after my first 10-minutes rule. Was too focused on the CL play I was in.

Decided to stop trading around 11:25 and good thing since there were no more good moves. Ending the week in the green $660 growing the new account 44%. Time to enjoy the weekend. ?

Have a great weekend everyone!

 

The play that saved the day. Click the image for more detail.

 

 

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

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”