Jul 2, 2018 – Passive Action

Premarket Insight

Eager to get this week started from my weekend study and practice sessions, along with the improvements I made with my execution strategy. However, I am planning to move my start time back a bit to about 7 or 8 AM EST mainly due to the fact that I don’t typically get many good opportunities before this time. Of course, the best opportunities present themselves during normal market hours.

Even though this is going to be a short week it’s not short on news with the market focused on Trump’s involvement with global “trade wars” and oil agreement with Saudi Arabia. Historically, this time of the year is fairly uneventful based on seasoned traders’ sentiment, but this year may be different. (fingers crossed)

As far as the calendar, nothing significant sticks out today. Very interestingly, the markets (looking at NQ – Nasdaq Futures) started off the week early with a major selloff down more than 0.65%.

 

At the Bell

Caught a winner on CL premarket, entering the bell with my 2nd play. NQ continued to sell off in the premarket with a big dip right before the open. May end up watching NQ more today than playing, depending on what CL does.

 

COB Recap

Took a loss on that play on CL at the open then got way too passive with CL’s choppiness. Missed at least 3 opportunities on NQ in my live account but I did paper trade it with success. Good reason to chill on all the passiveness. Should have ended the day with $760! Good motivation for moving forward. Still, green is green so I can’t complain! #NextTime

 

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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”

 

Jun 28, 2018 – Fifty Fifty

Premarket Insight

Logging into my platform today, GC and CL looking a bit choppy again like yesterday trending nicely on the daily chart. GC trending bearish and CL bullish. Primary focus is on CL which seems to be more stable lately, unlike GC that keeps filling me on 1 min super wicks.

My main focus today will be trading with discipline regardless what instrument I trade. Need major improvement on my exit discipline, which is what I have been working on since yesterday’s afternoon session. Had I traded in the morning session the way I did in the afternoon with paper money, yesterday would have been green.

On the calendar today, GDP report at 08:30 EST. Volume so far is strong, but I have no predictions how this may affect the market volatility, if at all.

 

At the Bell

Got a little cushion in the premarket with CL. Had two plays, one win and one loss, making a mistake on the first and making it up on the second. Right before the open, strong volume in the market (NQ) with good volatility. Could be another day of good selloff which has started in the premarket. Have to remember to stay prepared for anything.

 

COB Recap

Ended the morning session the way I started, taking another win and loss on NQ breaking even. Took a loss on a false breakout which in retrospect was not a good place to enter. Made it up on the bearish side with a quick scalp, made possible by the one and only discipline!

Not a big green day, yet a huge day for my trading as all of my plays were disciplined even though I made some mistakes being a little too aggressive. Actually, I got frozen with all the choppiness and missed a couple of good opportunities that would have significantly changed the tone of my green day. Good to see the volatility back in the market though. It would be nice if the volatility was directional.

 

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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”

 

Jun 27, 2018 – Oily Gold

Premarket Insight

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.

 

COB Recap

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.

 

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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”