Aug 8, 2018 – Minimum Success

Premarket Insight

Apparently, the U.S.-China “trade war” has people scared to trade this morning as market volume (NQ at 19k as of 07:30 EST) is extremely low, with not much going on so far looking at the Nasdaq Futures 5-minute chart. This low volume is present in other areas of the market as well (gold, crude oil, and Euro forex).

On the calendar today, Crude Oil Inventories at 10:30 EST.

 

At the Bell

Not long after I wrote the premarket insight a ton of selling started in the markets around 07:45 EST and volume picked up a bit. There was a lot of selling in other areas of the market as well. CL already down more than 1.34% (94 ticks). With that type of selloff in the premarket, may just be sticking to NQ today.

From a technical analysis point, the NQ selloff on the daily chart makes sense as it ran into strong resistance.

 

COB Recap

So, I clearly misread the sentiment on CL today. It continued to drop and gave a ton of opportunities that I missed out on. Could have given me a really strong green day. Really frustrating how I keep letting this fear get the best of me. I took one play in CL that was a loser do to wrong timing.

Still green though thanks to NQ. Caught the one good move in the morning session and pretty much ended my day there. Would have been really nice to get all that profit from CL, but I can’t complain too much finally having a green day again.

 

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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”

 

Aug, 7 2018 – Instant Replay

Premarket Insight

Getting to my desk somewhat late today (already 09:00 EST…). Markets climbed a bit in the Asian market hours, but pretty much flat ever since reaching that max.

Putting CL back on the playlist today since my rule breaking debt has been paid. Lucky I didn’t miss a super huge move yesterday.

On the calendar today, JOLTs Job Openings at 10:00 EST.

 

At the Bell

Both NQ and CL got off to a very strong start in the first 5 minutes, of course the time I cannot trade based off my rule. But it’s still early so I’m sure there will be plenty of more opportunities to come. Have to stay relaxed and patient like yesterday.

 

 

COB Recap

Almost 100% identical to yesterday, market was super choppy and consolidation in the first two hours. Right when things started taking off in my favor got filled on an NQ play, but I guess because of the way I had the orders set up to get filled either way it went, my platform got confused and cancelled my stop for the one I got filled in. Too me a while to get myself together and manage it manually using the flatten feature to make sure I got out of the trade properly.

Then I forgot to reset my trade menu back to the strategy and ended up getting back into another trade without a stop or target. Again, manually exited that trade before deciding to at a minimum take a break so I’m not trading in my emotions. Maybe I will be done for the day since it’s almost my normal stop time but on days like these we usually see good movement during lunch or in the afternoon.

I was down a lot but those 2 scalps and finally catching a win on CL patched up my wounds a little. These last couple of days have been just horrible. I didn’t trade perfectly today but overall, I’m pleased with my performance compared to last Friday.

 

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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”

 

Aug 8, 2018 – Just Relax

Premarket Insight

This weekend just enjoyed time with family and didn’t look at a chart once. I find enjoying other areas of life is a great way to clear the mind for a fresh restart after having a very disappointing day like Friday. I know my mistakes and what I need to do. I’m ready. Yesterday is not today.

This week, the U.S. – China “trade war” continues, U.S. Inflation data on Friday, and the last major wave of earnings throughout the week. Today, nothing significant listed on the calendar.

 

At the Bell

NQ’s price action was all over the place in the first 15 minutes, so no trades placed so far. Waiting for a cleaner, more rational entry based strictly off my strategy.

 

COB Recap

Another red day, but I’m very pleased with how it went. I stayed patient and discipline. The market was just not on my side today and it’s okay. It was actually a very relaxed day. Feels like I traded the same as I would have as if I was paper trading. Small loss and satisfying seeing my confidence growing.

 

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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”