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.

 

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”

 

Aug 3, 2018 – Twilight Trading

Premarket Insight

Still trying to mentally recover from my complete spacing out on a ton of profit yesterday. So far, today seems like a normal Friday. No major headlines. Just a few more earnings but nothing major. And the volume as of 07:30 EST is relatively normal.

On the calendar today, Nonfarm Payrolls and Unemployment Rate at 08:30 EST, and ISM Non-Manufacturing PMI at 10:00 EST.

 

At the Bell

Paper traded in the premarket just to satisfy my boredom, and good thing because neither trade worked out. A lot of chop leading up to the bell after 08:00 EST.

The first 10 minutes was more slightly bearish chop without a clean entry, so no plays taken. Need to remember to stay disciplined to my strategy and not let the failure of yesterday carry over into today.

 

COB Recap

Writing this in hindsight, way after the fact, because this is another day where I almost didn’t post. I had a little study/practice session of the morning session after I completely bombed the day losing $970!!! After I got my emotions back under control, wanting to destroy my office from my trading struggles of the day, I looked back at my trades and realized I made a lot of mistakes.

Basically, I made things way more complicated than it needed to be, especially on a difficult day as today. Then I capped the day off by breaking my three-strikes rule on CL, revenge trading with FOMO. As a result, I cannot take any trades (including paper trades) on CL Monday, plus a move that would be a loser to make up for the extra loss I had today.

At the end of my back trading in my platforms replay mode, I actually should have had a green day (smh). Why do I love to learn lessons the hard way? Gots-ta-do mo betta!

 

To end this on a positive note, it was still a green week! 🙂

 

The rule breaking trade. 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”

 

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…

 

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”