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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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”

 

Jun 20, 2018 – Down But Not Out

Premarket Insight

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.

 

COB Recap

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. ?

 

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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”