So, I ended up missing the strong bull move out the gate. The 5 min wick threw me off, showing indecision and I decided to wait for some pullback that I never got. After watching the paint dry for a while, strategy showed an entry that I took for a small scalp. Could have held it longer but by the design of my strategy, would have only gained an extra $5 so no big deal getting out when I did. Somewhat of a frustrating day, but better than losing money.
See the details of my day in today’s COB Recap video below. Enjoy!
NQ has a decent bit of selloff in the premarket after the bearish push in the Euro hours. Current volume as of 09:00 ET is pretty strong for this timeframe. Market showing potential to be an interesting day.
On the calendar today, Core PPI at 08:30 ET and Crude Oil Inventories at 10:30 ET.
COB Recap
It was another day of strong but odd early selloff out the gate as the bell rang. My first trade, I ended up screwing myself yet again for just a small scalp that should have been a play that hit target.
The next play I took I almost had to literally sit on my hands to keep myself from jumping out of the trade too soon. What I’ve noticed from the past few weeks of trading is the selloff typically happens much faster, stronger, and irrational than strong bullish days.
I was done before 10:30 for a profit of the day of $180. Could have easily been $350 but I’m not complaining. Just need to keep myself from taking myself out of trades too soon moving forward. The way I have my strategy setup with my broker will take care of erratic price action a majority of the time. Discipline for my entries have improved drastically, so I have no reason to be over-managing these trades so much.
Looking at my charts for the first time today at 07:00 EST, NQ and CL have already taken a significant nose dive, mostly in the Euro market hours. NQ already down more than 58 points (0.79%) which could be the start of the selloff I have been expecting. Hoping this translates well into the morning session after the open bell. As mentioned in my entry yesterday, NQ will be my only focus for today.
One the calendar today, Core Retail Sales (x2) at 08:30 EST and Crude Oil Inventories at 10:30 EST.
COB Recap
As far as my performance today, I pretty much traded like a fish fresh out of water. Took a loss on my first play making a mistake from lack of focus, getting distracted by events happening at home. Then the rest of the day was spent taking small scalps to get back to green. Ended the day with a whole $10!
On another note, after doing a quick recap, noticed my normal strategy wouldn’t have performed much better with the crazy volatility, giving me a bunch of scalps minus the loss. Good thing I updated my entry technique yesterday. Just need to execute it better next time.
Anyway, no complaints overall today. Good to at least have a green day again even if it is only $10.
BTW, CL would have been super easy to trade today. #StoryofMyLife.
Scalp city y’all, scalp, scalp city y’all. Click the image for more details.
