Jun 26, 2018 – Chopped into Regret

Premarket Insight

Another day where volume is looking strong in the market early. At the beginning of my day GC and CL has already had significant moves, both bearish. NQ is pretty much trading sideways in a pullback from yesterday’s big selloff. However, as of 06:20 EST, the volume is already above 50K which is something we haven’t seen consistently in some time.

On the calendar today, CB Consumer Confidence at 10:00 EST.

 

At the Bell

No trades place in the premarket. Had an order out for CL short but didn’t get filled. NQ bounced around all morning, however my premarket attention should have been there as there were a couple good opportunities after 06:00 EST.

Five minutes in and it looks as if the bears will be controlling the markets again as NQ bounces strong off a key pivot. Today, I am determined not to miss this volatility no matter what.

Another possibility, a retest on yesterday’s gap (see QQQ) could be in the cards for today’s market action. And as always, choppiness is always a possibility. Morale of the story, be ready for everything. (Insight I needed yesterday)

 

COB Recap

Guess the later was right, Market just chopped along all day and it didn’t help I took some trades like a newbie, missing where I should have got in and chased it, which is definitely not the thing to do on a choppy day. Maybe this will be a day where there is a play during lunch…

Getting out of my emotions though, looking at the big picture, I only chased one time (which is the one that got me in the red for the day), but today’s struggle is simply because it is one of those rare days what my strategy doesn’t work so well. The problem is not with my trading, with the exception of me getting emotional from that last loss.

Could try to recover in the afternoon session but may opt to just step away and get back at it tomorrow unless I can get my emotions under control during lunch.

 

The play that put me red on the day. 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”

 

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. ?

 

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”

 

Jun 15, 2018 – Bloody Battle

Premarket Insight

As expected, the NQ is having some pullback in the premarket in response of a strong day bullish yesterday. GC already looking strong on volume. Hasn’t made a significant move yet. On the daily, could be at an area to break out of this consolidation bullish.

 

On the playlist today is the usual, GC in the premarket and NQ after the bell. Will also be working on some things with paper money.

 

At the Bell

Later I did realize today is expiration Friday, so all the selling in the premarket made sense. I should have played NQ in the premarket with this knowledge. Could have caught some nice scalps.

 

As usual, the first 10 mins of the open chopped around with no general direction. Took one L in the premarket on GC (gold futures) with a valuable takeaway of having one too many indicators on my chart. Sucks to lose but happy I was able to learn from it.

 

COB Recap

Long story short, pretty much ended the day getting caught in a revenge trade. Took 2 Ls getting caught being aggressive at the wrong time in the middle of a battle between the bulls and the bears with a little felling of regret from missing an earlier opportunity.

BTW, I was completely wrong on GC with my earlier analysis on it being at a good position to pop higher breaking out of daily consolidation. Instead, it decided to let the bears in for a field day.

See my mess below.

 

Click the image for details.

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”