30 Jul, 2018 – Tug-a-War

Premarket Insight

Looks like I’m not the only one excited for the return of Monday as we’re already seeing strong movement in the market thanks to the Asian and European markets. On my watchlist, CL has already jumped more than 100 ticks (1.07%) before 08:00 EST.

NQ continued a small bearish at the open of the Futures market before a bit of retracement, bouncing off Friday’s close. I’m predicting QQQ opens gapped down and we continue to head south at some point after the bell. Still overall a bullish market, but some retracement on the daily makes sense here, in my opinion.

My weekend study shows I have majorly underperformed my strategy, revealing I should be well beyond my $10k goal I set at the beginning of the month. A bit disappointing in my performance but highly encouraging seeing the potential. I will be locked in today, focused on consistency and discipline, keeping with the plan of taking my first trade after the bell.

On the calendar today, Pending Home Sales at 10:00 EST.

 

At the Bell

So, I was off with my prediction for QQQ. It did not really gap down. QQQ basically opened where it closed but the bears were strong at the open, so my sentiment was right. I haven’t taken a trade yet, waiting for the appropriate entry based off my strategy, even though hindsight says I could be in the green already. No sweat, it’s still early.

CL still moving bullish.

 

COB Recap

Well, that totally sucked! After the first huge drop that I missed from not getting the proper signal the choppy price action was horrible. Ended up taking an overly aggressive trade expecting continuation (instant regret) taking an unnecessary loss. Then was only able to take some scalps before I took the hint and just switched over to paper trading the rest of the day to entertain my boredom.

Not a thing happened with NQ or CL, which I’m not so surprised by CL since it moved so strong in the premarket. Not too many traders would be eager to get in at the top of such a strong move and would be hesitant of fading here without motivation from a decent breakout move bearish that we never got. There’s always tomorrow…

 

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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 26, 2018 – Earnings Galore

Premarket Insight

Yea… So… Yesterday’s afternoon didn’t quite play out so well for me. Market surprised me with a super strong bullish pop on the US-EU trade news, thanks Trump, which I missed all of. Almost caught one last pop but too slow. Then on a disappointing FB earnings, not a thing happened only catching a scalp before the market was halted due to major 50-point selloff off from the earlier surge. Oh well, there will be plenty of more trades to take. Should be interesting how this affects the market today.

Other than that, more earnings are on deck to be released today with 74 of the big names coming from the S&P before the open to include McDonalds (MCD), Mastercard (MA), and Southwest Airlines (LUV). However, what will most likely be in most traders’ sights today is Amazon (AMZN) to be released after the closing bell. Coming off the NASDAQ, Amazon will have plenty of company from Starbucks (SBUX), Electronic Arts (EA), Chipotle (CMG) and more.

On the calendar today, Core Durable Goods Orders at 08:30 EST, which I’m assuming will not make an significant impact to the market today with today’s earnings lineup.

 

At the Bell

Coming off two days where I stopped trading too soon, missing moves that would have turned my red into green, my main focus today will be taking every good setup until lunch. This is why I opted not to take any premarket trades, conserving that focus and energy for the normal U.S. market hours.

I’m at a point now where I’m confident enough in my strategy to where I should be able to find success in a strong trend or indecision. Physical fitness done. Meditation complete. Positive vibes and outlook.

 

COB Recap

Got off to a crazy start! First two trades resulted in a profit of $20 for the day before I realized they were place on my paper trading side. (LOL) The one and only time I’ve ever been happy I did not hit my target on a trade.

After I got my platform together to trade from my live account, only took two scalps on NQ in a very slow grind as the market wasn’t moving anywhere. CL was also low on energy, barely trading in a tight range, lulling me to sleep before it finally popped around 10:40 EST, in which I missed. Taking my small profits here just for the green and I will be back later for the AMZN earnings report. Good to finally see some green on the screen after a long cold streak.

 

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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 24, 2018 – Scrimmage

Premarket Insight

Did a bit of in-depth studying last night with some replay back trading. Feeling good about my plan and strategy for today.

Again, CL got off to an early start, this time bullish, jumping more than 66 ticks (0.45%) as of 07:25 EST. NQ currently just trading sideways after the big push bullish from GOOGL’s earnings report “smashing” expectations after yesterday’s closing bell. Good chance that push continues today, in my opinion.

Nothing interesting on the calendar today. However, a slew of earnings from HOG, VZ, LMT, MMM, UTX, and BIIB, to be released before the bell, should be more than enough to give some life to the market.

 

At the Bell

Didn’t take any live trades premarket but I did successfully exercise what I studied and practiced yesterday through paper trading. NQ started a bullish run in the premarket beginning after 08:00 EST but didn’t do much in the first five minutes after the bell. Looking over-bought based on the $TICK. And as soon as I typed that it took off strong bullish (LOL). Guess the $TICK just meant more buyers were coming in. I will be looking for some pullback for entry as I already missed where I would have preferred to enter due to time based rules.

 

COB Recap

Was a little too impatient on my first play which was the play that put the red in my day. Other than that, the improvements made to my execution really helped and I did much better than the past few days on this cold streak. Missed one on CL and NQ, in which the NQ was simply due to me having to step away from the computer for a second. Time will take care of what happened with CL as I continue to improve my skills. Overall satisfied with the day. The focus is on perfecting the execution, not the P/L column which will be taken care of with perfect execution and discipline.

 

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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”