Jul 9, 2018 – Simple Beginning

Premarket Insight

Monday is here again and an exciting one for me. I was finally able to open an account with AMP Futures and today will be the first day I trade using Sierra Chart. I prefer this platform because it allows me to trade from the chart with some additional features for executing my strategy. Being overseas creates some challenges with setting up accounts with certain brokers, which is what took me so long to get this account with AMP. I will write an article about setting up an account for U.S. residents living abroad later.

Now, for the market, along with the continuation of the trade war drama and Fed news, this week kicks of Q2 earning season with some major banks (JPM, C, and WFC) reporting Friday. Nothing sticks out on the calendar today, but this should definitely be an exciting week.

We’ve already seen some significant action from CL (bearish) and NQ (bullish) before 06:00 EST on decent volume with it being so early. I’m all setup and ready to execute my trades with discipline and consistency.

 

At the Bell

Got off to a rough start, taking a loss followed by missing another one that would have been a winner on CL. CL and NQ mostly chopped around in the premarket after their early movement before 06:00 EST. So far for me it’s just been lesson learning. Now waiting for the next setup.

In the first five minutes, NQ continuing its bullish climb pretty strong.

 

COB Recap

Everything pretty much just bouncing around today. Missed one play that would have hit target on CL but was able to catch the below play on NQ after it retested the previous resistance. Ended the day kind of early after that play just taking a couple more paper trades and watching. Could have been better had I got the two plays I missed on CL but I’m starting the week and my first day in the new trading account in the green so I’m not complaining.

 

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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 6, 2018 – Buy the Dip

Premarket Insight

Ended up not taking a live trade on the Fed news yesterday. The volatility that we usually see on Fed news was not present yesterday. But I did paper trade it for some profit, with one of the plays stepping a bit outside of my rules entering earlier than my strategy would indicate. That decision was based off a stronger indicator that I’ve come to be familiar with through my experience. However, I still would have been profitable sticking strictly to my rules.

Also, I’m getting a bit of a later start to my day today because my neighbors decided to play with their tools during the time I’m usually sleeping. However, I’ve been thinking lately to push my start time back to 8am EST since this is the time when the real volatility typically enters the market. I’ve seen the best opportunities happen after this time. Plus, when I return to the states this will be my start time anyway.

Today volume has returned to normal with a bit of choppiness for the instruments on my watchlist. On the calendar today is Non-farm Payrolls and Unemployment Rate both at 08:30 EST.

 

At the Bell

The market had a huge reaction to the 08:30 news mentioned above, NQ jumped more than 30 points in 5 minutes. That huge spike was followed by a pullback of half of that bullish move.

I ended up not taking any trades in the premarket. I missed one that would have resulted in a 10-tick profit. Looking for the next one. More than likely will only be playing CL today.

 

COB Recap

Missed another one on CL when it had a super big pullback to an area that confused me before shooting up hard more than 70 ticks in 10 minutes. Then it chopped around for a while. Just watching, NQ was chopping bullish after the bell.

Then they both popped, and I caught the pullback on NQ. I never really got the setup I wanted on CL, so I looked over at NQ and bought the dip. Finally ending the day with decent profit of $320. Should have been much more but I cannot complain at all.

Have an amazing weekend everyone!

 

7-6-2018-nq-buy-the-dip
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”

 

Jul 5, 2018 – One Second Victory

Premarket Insight

Finally, the markets are back open! I remember a time when I eagerly awaited short work weeks and days off. That has completely changed since I took my day-trading full time! Yesterday was the longest 4th of July in my life! (LOL) I digress…

Anyway, logging in to my platform, I can see I wasn’t the only one missing the market seeing high volume and strong movement early in the premarket. Also, there are plenty of volatility catalysts on the calendar today.

  1. 8:15 EST – ADP Nonfarm Employment Change
    • with jobless claim 15 minutes later as a potential boost
  2. 10:00 EST – ISM Non-Manufacturing PMI
  3. 11:00 EST – Crude Oil Inventories
  4. 14:00 EST – FOMC Meeting Minutes

 

Should be a pretty eventful day. I spent a good part of the holiday yesterday getting some good back testing in on NQ and CL using Sierra Chart’s replay mode. On that note, hopefully I hear some good news today from AMP Futures setting up my account with them. I highly prefer that platform over Generic Trader.

 

At the Bell

Got one win and one loss on CL. The loss was bigger than the win so I’m currently in the red a little. That play was a bit too aggressive but I’m still counting it as a good play because the 1 min candles were kind of tricky.

Today I will be more than likely only playing CL since I no longer have the initial margin to play NQ with paying myself for June and the losses on Tuesday. It’s all good though since right now I prefer to play CL anyway.

Got off to not so great of a start missing my entry on CL at the open of the market being one mouse click too slow. Really hoping I can get this account with AMP soon. Having to use 2 platforms to make trades is doing too much. With Sierra Chart I can do everything right from the same platform. Plus, I can setup my strategy so that all I have to do is enter the play and let the strategy play itself out. Easy hands-free trading.

Now let me get focused…

 

COB Recap

Market got super choppy in the first hour of the open. CL basically slowed down to a crawl with very little action, where I found myself stuck in a play of agony as it chopped around between my entry and stop loss for 20 mins before finally stopping me out.

 

I decided to take a break around 10:30 due to the lack of action and walked to the store with my wife. Came back to see the volatility had picked up, so put my order in and got filled with $300 profit literally one second later! Nice to finally have one of those types of surges work out in my favor.

 

Taking a break now to eat some midnight lunch since I will be trading the afternoon session with the Fed news. See that one second play in the image below.

 

 

Click the image for more details.

 

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

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”