May 23, 2018 – Passive Aggression

Premarket Insight

At the start of my trading time, NQ has moved bearish more than 70 points (1.03%) since yesterday’s close. Also, volume is much stronger today. This premarket bear move well below the daily support the price was bouncing off of all week.

Leading up to this time, I did a little back trading to verify I was using the correct method to play my strategy.

Economic calendar showing 3 significant events taking place today: New Home Sales @ 10:00, Crude Oil Inventories @ 10:30, and Fed news @ 14:00. Making mental notes to be aware of these time frames but will stick to playing strategy as designed.

 

At the Bell

A little too aggressive in the premarket taking 2 losses. Just like the last few trading days, price staying consolidated after early push before 6am. Focusing to breathe and not get frustrated. Maybe should have sat on the sidelines before the bell as I wasn’t really expecting much from the early premarket action. Was just hoping to catch a small scalp or two.

NQ shot out the gate strong bullish right at the open. Staying patient and disciplined to 10 min rule. And regret sets in as I sit and watch almost all of the bearish ground retraced within those 1st ten minutes.

 

COB Recap

After the big open bell pop, was able to catch some scalps on some resistance breaks and bullish bounce. Wasn’t as profitable as I could have been if I had more stop trail discipline for the bullish bounce.

A little frustration from last couple of days when I was aggressive with entry, trades didn’t work at all. But today in market hours, I’m a little more passive with entry but would have worked out better being aggressive. For example, the last play you can see in the chart below, had my entry been just a couple points sooner I would have hit my scalp target.

It is what it is I guess. To live and trade another day.

 

Click here for more of my plays today.

Rob

Mv3 Trader

“Trade Consciously”

 

May 22, 2018 – Scalp City Y’all

Premarket Insight

Logged into my platform to see NQ had started a really nice bull run since 3:30. At this time (6am) it’s up more than 20 points and still going. However, volume is lower than yesterday. Interested to see how this unfolds throughout the rest of the day.

Already checked the economic calendar for events happening today. Nothing highly significant to be aware of today according to investing.com.

 

At the Bell

So unsurprisingly, after that nice bullish move before 6am, the market pretty much died and practically traded sideways until the open bell. Only attempted on premarket trade for a small loss.

 

COB Recap

Bright note of the day, all this choppy lack of energy in the market is definitely helping me improve. I missed one 1R play from miss-judging price movement, which isn’t hard to do in this market, but I am getting much better with my execution. Now if only the market momentum could return to what we were seeing about a month ago. Would really love the volatility we saw back in February. #Ready

 

There was one more play at 11:44 but for some reason couldn’t get TraderVue to display it on the chart. Will put link to this trade below.

Rob

Mv3 Trader

“Trade Consciously”

 

May 21, 2018 – Thank God It’s Monday #TGIM

Premarket Insight

Only spent a little time over the weekend getting some practice. Spent most of the weekend working on other business and enjoying family time. Good to relax and unwind to get mentally prepared for the upcoming trading week.

NQ gaped up to Friday’s open over the weekend and had a pullback of about 30 points into the gap before the start of my trading time. Price action really slow in the first hour of my trading.

 

At the Bell

Price continued to bounce around in the premarket until a nice bull move about an hour before the open, giving me two decent scalps before the bell.

Right out the gate, the market took off bullish almost making me wish I didn’t have the no trading first 10 mins rule. (LOL) But have to be patient here. It’s early and this should mean plenty of good opportunities to come.

Could have taken a reverse on the strong open market bull move but decided to not take it as it’s not part of my normal strategy. Would have worked out as long as I stayed disciplined to my stop and got the best entry, so good decision to pass up on it. Would have been too stress inducive.

 

COB Recap

Market practically went to sleep after strong open, hanging around in a tight range forming a bearish channel. Attempted 2 scalps resulting in losing premarket profits.

Took a peak at ES (S&P Futures) which would have been a much better trade today. What to do, it happens. At this point, 1 more hour to go before lunchtime. Maybe an opportunity will present itself within the hour. (fingers crossed)

And less than 10 mins later, was able to catch a nice scalp as NQ took a dive. Missed second opportunity from not fact checking info put out in chatroom about 11:30 fed news. Turns out that news was predicted to have limited effect on the market according to the investing.com economic calendar. Lesson: Always fact check info from others.

 

Click Image to see details of this play on TraderVue.

Rob

Mv3 Trader

“Trade Consciously”