A lot of action early today on my watchlist. NQ had a decent bearish push before 05:00 EST, currently down 0.48%. GC and CL also showing some decent movement early.
On the calendar today, Core Durable Goods at 08:30, Pending Home Sales at 10:00, and Crude Oil Inventories at 10:30 EST. Beginning to look as if it will be an interesting day. Have to be focused.
7:56 – Irritated with GC filling me in on a 1 min wick again before quickly stopping me out for a loss. I was just about to remove the order too because it looked as if it wasn’t going to get filled.
At the Bell
Also took a loss on CL with choppiness, which is really my fault because my entry should have been sooner. Late entry was on a false breakout putting me in not such a great position for the open. Going to be locked into the market today, focused on my execution so I will probably not annotate my insight on the 1st ten minutes today. Currently ten minutes to the bell getting everything setup, making sure I am ready to go with no distractions.
However, I will annotate NQ has had a ton of volatility today with great opportunity in both directions. Apparently, seeing messages in RLT’s chatroom, there was news from the treasury depart after 07:30 EST that brought in some strong bulls. Fingers crossed this is translated well into market hours.
Long story short, since I was off emotionally and mentally, I should have just sat out in the market today. Ended up deepening the whole to $560 in the red on the day, mainly due to lack of discipline. I missed an earlier trade which was followed by getting a good fill on another bullish play that I excited too early. Click the link image below to get the play-by-play of the mess I traded myself into today.
I should have been able to easily trade my way back into the green after the bell. I will be paper trading for the rest of the day to get my discipline under control. At this point, lack of discipline is no excuse.
Had a great weekend enjoying time with my wife but still managed to squeeze in some studying time in preparation for the week.
Nasdaq starting the week pretty interesting with decent volume on some relatively heavy selloff, already down 0.88%. Volume looks pretty good across the board for the rest of my watchlist as well.
Only thing on the calendar today is New Home Sales report at 10:00 EST. However, should be an interesting week with “Trade War” news, U.S. Q1 GDP report to be released Thursday, and U.S. PCE Inflation Data on Friday.
At the Bell
In the premarket, was able to catch to plays off CL, one small win and another moderate win giving me a nice cushion for the market hour plays.
In the first 10 minutes, the bears continued pushing the market south. I wouldn’t be surprised to see some bullish action or choppiness at least through lunch at this point. Volume looking strong, with NQ already surpassing the 100k mark.
Well, I completed misjudged that first hour after the bell. Then I got distracted with things outside of trading, so I missed the move I’ve been waiting weeks for… Frustration is an understatement.
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.
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. ?