Looking at my charts for the first time today at 08:00 EST, noticing volume overall is better than yesterday. There was some pretty good action in the Asian market hours basically thanks to more “trade war” sentiment according to investing.com, but not much going on since. As of now, NQ volume looking a bit low leading up to initial jobless claims and PPI reports.
On the calendar today, Core PPI at 08:30 EST, as mentioned above.
At the Bell
Not much at all happened in the premarket. Today, my focus is to trade my strategy confidently with discipline, which should be the norm for me by now, but it is what it is.
Another day of extreme choppiness in the first few minutes of the market that got me, even though I traded my strategy to plan, so no stress. Just be ready for the next opportunity. It’s part of the job.
A rough and crazy morning getting mostly scalps just to get back flat after taking that early loss. Ended up taking one last “for the win” shot at NQ, but didn’t work out, putting me in the red for the day.
Got a couple baby wins on CL so that helps ease the pain. Even did a little overtime trading through the lunch hour, but still there was no energy in the markets. Tomorrow it is!
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.
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.