Sep 19, 2018 – Patience Exercised

Premarket Insight

So far, as of 07:00 ET, not much has happened in the markets on weak volume. Nothing huge stands out today, just the same trade war talks, and a couple of reports listed below on the calendar.

I will be continuing with the focus of trading consistently with patience. Now that I’ve become more willing to HTB (hit the button) and enter on my setup, need to make sure I let the trade play out as designed per my strategy.

On the calendar today, Building Permits at 08:30 ET and Crude Oil Inventories at 10:30 ET.

 

COB Recap

Out the gate, took a play in the 2nd minute of the open on NQ. Didn’t let it play out which would have hit target for $200, but with my exception to the not going flat rule in the first five minutes, I’m not too upset about that. Just read that play wrong.

Took a while to see another setup I liked. I saw it forming but I didn’t like the timing. I wanted to enter right away, but price action wasn’t giving the signal of being ready to pop out of the small channel that was being formed. So, I struggled through the itch and feeling of FOMO and finally HTB to catch the short at the right moment for a successful play that took about 2 minutes! YES!!! Taking my wins and going home.

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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”

 

Sep 17, 2018 – Hurdles

Premarket Insight

Volume seems a bit low for a Monday as of 07:50 ET as I do my volume check. Seems to be a bit of hesitation in the markets due to continuation of “trade war” tariffs talk between the U.S. and China. At this point, NQ pretty much trading sideways with no real volatility, volume at 40k. Fingers crossed for things to pick up at the open.

Nothing significant on the calendar today.

 

COB Recap

Super volatile price action at the open tricked me and I missed my entry for a short trade I had setup but removed because it seemed price action was reversing. Feeling frustration from that I ended up over-managing later trades and decided to end my day early after the second scalp. Took away $50 but should have been $400 had I let those trades play out per the strategy. I seriously need to get over this hurdle of over-managing my trades.

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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”

 

Sep 12, 2018 – Improvement

Premarket Insight

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.

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”