Jul 27, 2018 – Caught Up

Premarket Insight

Another day of earnings down… and not a thing to show for it. This has been the most uneventful earnings season I’ve seen since I started day trading. AMZN earnings were released with very positive results yesterday but it did very little to move the market. Even in the after hours, Nasdaq Futures (NQ) only climbed 30 points (0.46%) at its peak with was only a touch and drop.

All this after the market was virtually dead yesterday during market hours, trading sideways with analysts over-hyping the tiny dip off FB earnings. Listening to CNBC would have something thinking the market dropped a whole 100%. Note to self, only listen to market news for pure entertainment. (That’s what it is anyway)

Looking forward, more earnings on the dock today with TWTR making headlines early as “sinking sharply”, which is actually very accurate, dropping 10 points in the premarket from disappointing earnings report.

Also, plenty more to bring some reviving life into the market with continued trade talk between U.S. and China, Crude Oil, and GDP to be release at 08:30 EST. Keeping a positive outlook on the day ahead.

 

At the Bell

Too much information dealing with earnings, GDP and Trump news kept me out of the premarket action, which is a good thing since the result was a whole heap of up/down action.

Major selloff in the opening 10 minutes after the bell but didn’t fit the setup I look for so no trade. Patience and good execution is the name of the game for me today.

 

 

COB Recap

The selloff continued, and I was able to catch some love once my indicators finally caught up. Took some hits on CL’s choppiness but made it all up with a nice continuation play on NQ. After that and seeing how my strategy was slowly reacting to the market, decided to call it a day early and just end the week on a positive note.

Have a great weekend everyone!

 

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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 19, 2018 – Uneventful Battle

Premarket Insight

Honestly, finding it a bit challenging today to stay optimistic today, even though I clearly realize the reality of how solid my strategy is and how simple it is for me to get back in the green with discipline and consistency. It’s just the fact of how costly my mistakes from early in the week put me in the position of where I’m now fighting an uphill battle that was completely avoidable. Anyway, time to move on!

So far today, everything on my watchlist is playing bearish (NQ, CL, GC). CL and GC dropping hard in the Euro market hours. CL already down more than 80 ticks (1.20%).

My focus today will be on NQ since my current buying power will only allow me to take a play on NQ in my AMP account. Still have enough in my Generic Trade account to play CL and GC, but I really want to stay focused on one instrument for 100% accuracy and consistency.

On the calendar today, Philadelphia Fed Manufacturing Index at 08:30 EST. Not really expecting much volatility from that.

 

At the Bell

Didn’t take a single trade in the premarket, waiting for the open market volume. spent the whole-time back trading and realizing how I’ve been messing up by not sticking to trading my 5-minute timeframe. However, in the process I did improve my skill drastically than when I created my strategy.

Good thing I decided not to trade the premarket today, not a thing but a whole heap of choppiness. In the first 5 minutes after the bell NQ taking off pretty strong bullish. Waiting for a pullback to determine my entry. Need to take only the best entries with my account the way it is now.

 

COB Recap

Somewhat of an uneventful market this morning. Only took 2 trades on GC and NQ getting scalps off both for a very small but satisfying green day. Need to turn this around to where my green days are huge, and my red days are small. I’m doing it backwards right now. However, green is green so can’t complain. And what’s best is I know the problem is with me, not the market. Everyday remember to trade fearlessly with intelligence.

 

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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 13, 2018 – Saved by the Oil

Premarket Insight

Getting started a bit late today in terms of looking at what’s going on with my daily playlist. Spent all morning back trading working on my strategy for currencies. Currently just focusing on Euro forex futures (6E). May go live with this strategy soon in my Generic Trade account since this strategy will be more hands off. Kind of like swing trading intra-day.

Speaking of Europe, NQ and CL has had decent bearish moves in the European market hours starting after 02:00 EST. There’s nothing on the calendar today, but as I mentioned Monday, today starts the Q2 earnings season with major banks reporting today. Should be enough to bring some volatility in the market. Maybe the S&P (ES) more than others. As always, staying ready for anything.

Goal today is to trade fearlessly, taking every opportunity I can catch based off my strategy.

 

At the Bell

Didn’t catch any action in the premarket. CL took off for what could have been a winner right at the start of my day. Mixed earnings reports from the banks resulted in a lot of indecision from the ring of the bell. Volume is present but seems as if the volatility started the weekend early.

 

COB Recap

Got back in the green with my last play on CL. Stopped taking plays on NQ after the 2nd loss and realizing there was too much indecision in the market. Would have really helped if I would have been paying attention and caught the short play I saw after my first 10-minutes rule. Was too focused on the CL play I was in.

Decided to stop trading around 11:25 and good thing since there were no more good moves. Ending the week in the green $660 growing the new account 44%. Time to enjoy the weekend. ?

Have a great weekend everyone!

 

The play that saved the day. Click the image for more detail.

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”