Jul 20, 2018 – Whoa, Anxiety

Premarket Insight

Volume looking pretty strong early today with NQ over 62K before 08:00 EST (my start time). Nothing on the calendar for today but still could be an interesting day with this volume, plus there has been decent movement already mostly bearish. Again, may wait for the market to open before taking a trade just for capital preservation. The moves are typically better after the bell.

Some pretty interesting earnings will be released today: Microsoft, GE, Honeywell and Skechers.

 

At the Bell

Didn’t take a play in the premarket and a good thing because everything in NQ would have been a loser. However, that may have made me a tad wee bit anxious by the time the market opened because I started placing orders totally outside of my strategy like a complete idiot. LOL

 

COB Recap

Started the day red, took some good trades after getting myself together but never completely recovered. Actually, could have if I wouldn’t have loss my discipline feeling the after-effects of those early bad trades and overmanaged what would have been a very successful trade.

On another note, finally made the transition completely over to the new AMP account. Will still keep Generic Trade open in case I find a use for it later.

What an “interesting” week it has been. Even though I’m ending the day red, I’m still growing, making small improvements with each mistake and failure to become a better trader. As long as the world doesn’t end over the weekend, there will always be Monday!

 

The big mistake. 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”

 

Jul 18, 2018 – Show Me the Volume

Premarket Insight

In my crisis yesterday, realized I’ve been doing myself a major disservice by stepping away from my primary strategy on NQ. Could have been crushing it this whole time had I just stuck with it, only adding the breakeven plan I have developed over time. Let that be a lesson to always stick with the strategy through thick and thin, only making minor adjustments (adding to, not taking away) for improvement of performance. Will be reverting back to that strategy immediately!

A few things on the calendar today. Building Permits at 08:30 EST, Fed Chair Powell Testifies at 10:00 EST, and Crude Oil Inventories at 10:30 EST.

 

At the Bell

Again, took two losses in the premarket on CL. I was hesitant to take those plays and I should have went with that instinct because the volume was so low, really across the board. There was very little action for anything in the premarket, except GC that had just a small bullish movement.

NQ showing more indecision in the first few minutes of the open and low volume like we saw back in June. May be mostly watching for the rest of the day. The market is just too choppy for my strategy so far today. Have to stay positive and open for anything.

 

COB Recap

After my third loss on CL I had to follow my rule this time and stopped. That was followed by, about an hour later, taking a paper trade on CL that worked like a charm. I really messed up with that mistake premarket but what stuck out more to me is I the volume. Creating a new rule now to not take any trades on CL or GC if the volume is below 100K. Still trying to decide for NQ because it can push for decent opportunities on less than 100K volume as confirmed by my studies last night.

Another losing day. Tomorrow primary focus going back to NQ. Should have been the primary focus for today. Another day where I successfully managed my risk so I’m still alive to trade another day! 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”

 

Jul 17, 2018 – Broken Rules

Premarket Insight

Yea so… The market was apparently waiting for the NFLX earnings report since the volume came flooding in after the report taking a complete nose dive. NQ dropped a whole 58 points (0.79%) in about 15 minutes. I did take one play on NQ after the lunch break taking another loss before just hanging it up for the day.

So far today at 06:30 EST, volume looking about the same as yesterday. Contemplating switching my main focus outside of CL to GC or 6E (Euro Futures) since I have solidified my strategy for those. Still, primary focus is on playing CL.

On the calendar today, Fed Chair Powell Testifies at 10:00 EST. That should be very interesting. We shall see…

 

At the Bell

Took two losses on CL playing the pennant pattern bullish before the big drop at 09:00 EST. One-minute price action made it hard for me to get in on that drop where my strategy would typically place my entry. Then missed second opportunity that would have resulted in at least a scalp due to a bathroom break. Sometimes I feel like someone in the market is watching me… LOL

That 09:00 timeframe also saw a lot of selling pressure in NQ and GC. Got a successful paper trade on GC. I’m a paper trading master. If only my live trading went the same (haha).

First ten minutes saw the bulls run over all those 9am bears in a major retracement. Will be waiting patiently for a good entry, playing CL and NQ as usual. Tomorrow planning to go live on GC.

 

COB Recap

Broke my 3-strikes rule and paid heavily for it. After the fourth loss stopped and reviewed my plays to see I was off my game again today. Even took a play where I risked more than my plan, not even sure how that happened. As far as I can remember I just remember moving stop to lessen the risk, but I guess not. I really hate making mistakes like that.

From my review I should have never taken a loss until maybe a continuation play after pullback. Not sure why I’m so off so far this week but this has to change. It’s currently 10:40 EST and I’m done for today being way too far in the red, already taking too many losing trades. Need to stick to my rules.

 

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”