Jul 18, 2018 – Show Me the Volume

Premarket Insight

In my crisis yesterday, realized I’ve been doing myself a major disservice by stepping away from my primary strategy on NQ. Could have been crushing it this whole time had I just stuck with it, only adding the breakeven plan I have developed over time. Let that be a lesson to always stick with the strategy through thick and thin, only making minor adjustments (adding to, not taking away) for improvement of performance. Will be reverting back to that strategy immediately!

A few things on the calendar today. Building Permits at 08:30 EST, Fed Chair Powell Testifies at 10:00 EST, and Crude Oil Inventories at 10:30 EST.

 

At the Bell

Again, took two losses in the premarket on CL. I was hesitant to take those plays and I should have went with that instinct because the volume was so low, really across the board. There was very little action for anything in the premarket, except GC that had just a small bullish movement.

NQ showing more indecision in the first few minutes of the open and low volume like we saw back in June. May be mostly watching for the rest of the day. The market is just too choppy for my strategy so far today. Have to stay positive and open for anything.

 

COB Recap

After my third loss on CL I had to follow my rule this time and stopped. That was followed by, about an hour later, taking a paper trade on CL that worked like a charm. I really messed up with that mistake premarket but what stuck out more to me is I the volume. Creating a new rule now to not take any trades on CL or GC if the volume is below 100K. Still trying to decide for NQ because it can push for decent opportunities on less than 100K volume as confirmed by my studies last night.

Another losing day. Tomorrow primary focus going back to NQ. Should have been the primary focus for today. Another day where I successfully managed my risk so I’m still alive to trade another day! There’s always tomorrow.

 

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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
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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.

 

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”