May 21, 2018 – Thank God It’s Monday #TGIM

Premarket Insight

Only spent a little time over the weekend getting some practice. Spent most of the weekend working on other business and enjoying family time. Good to relax and unwind to get mentally prepared for the upcoming trading week.

NQ gaped up to Friday’s open over the weekend and had a pullback of about 30 points into the gap before the start of my trading time. Price action really slow in the first hour of my trading.

 

At the Bell

Price continued to bounce around in the premarket until a nice bull move about an hour before the open, giving me two decent scalps before the bell.

Right out the gate, the market took off bullish almost making me wish I didn’t have the no trading first 10 mins rule. (LOL) But have to be patient here. It’s early and this should mean plenty of good opportunities to come.

Could have taken a reverse on the strong open market bull move but decided to not take it as it’s not part of my normal strategy. Would have worked out as long as I stayed disciplined to my stop and got the best entry, so good decision to pass up on it. Would have been too stress inducive.

 

COB Recap

Market practically went to sleep after strong open, hanging around in a tight range forming a bearish channel. Attempted 2 scalps resulting in losing premarket profits.

Took a peak at ES (S&P Futures) which would have been a much better trade today. What to do, it happens. At this point, 1 more hour to go before lunchtime. Maybe an opportunity will present itself within the hour. (fingers crossed)

And less than 10 mins later, was able to catch a nice scalp as NQ took a dive. Missed second opportunity from not fact checking info put out in chatroom about 11:30 fed news. Turns out that news was predicted to have limited effect on the market according to the investing.com economic calendar. Lesson: Always fact check info from others.

 

Click Image to see details of this play on TraderVue.

Rob

Mv3 Trader

“Trade Consciously”

 

May 17, 2018 -Three Strikes and You’re Out (Premarket)

Premarket Insight

Started my day to see the market had a pullback from yesterday’s close about 0.40%. I didn’t give much attention to the market or my trading strategy and execution as I was working on one of my other businesses before my trading time. Checked investing.com to see Fed news @ 8:30 ET.

 

At the Bell

Bummed out, low volume in NQ again. (sad face) In true low volume fashion, price bouncing around a lot. Price just too choppy in the premarket even for my scalp strategy to work out. Stopped after taking 3 losses in a row. 8:30 Fed news just resulted in quick bear move before reversing slowly. After COB I will review these plays to check accuracy of my execution.

 

COB Recap

Nice bullish run after the 1st 10 mins of the open market. Was able to catch a good scalp, eyeing the right place to exit before a significant pullback. After bouncing back bullish, saw price was catching strong resistance at the previous day’s close. waited for the best setup before entering for another scalp. Much better action than premarket. Nice and smooth, just like I like it!

 

Check out 5-minute charts of premarket and open hour plays below.
Third strike out for the premarket. In hindsight realized this play was too aggressive. Should have paid more attention to the 5 min.
Two successful open market scalp plays.

 

 

 

Rob

Mv3 Trader

 

May 16,2018 – Just Another Day at the Office

Premarket Insight

After the major bounce off resistance today and hearing about some news of analysts predicting this is the top of the market, expecting a “the sky is falling” sentiment with some bears coming in to play today. But as always staying ready for anything. Anything is always possible in this market. May even do a little paper trading in TOS just to get some live practice in, like a scrimmage in sports.

 

At the Bell

Market looked to be pretty much opening at yesterday’s close before a crazy bull surge 15 mins before the bell. This after the priced bounced around a little premarket not really taking any particular direction. Volume a little lighter than yesterday. Only took two plays premarket from also doing a little market research and seeing the indecision of the market.

 

COB Recap

Not really much action today before lunch. NQ continued bullish about 30 points (+0.45%) choppy before a pullback. managed to grab 1 scalp on a new HOD breakout. Thought it was going to be a false breakout resulting in a loss but staying disciplined allowed me to capitalize on the move. Check out this play below share from my TraderVue.

 

**Go figure, the price took off strong bullish right before lunchtime again. Yaaaay…. (cue sarcasm)


 

Rob

Mv3 Trader