Jul 16, 2018 – Scalp Master

Premarket Insight

Monday has returned for a week that should be jam packed with volatile action. Of course, there’s the continuation of trade wars, but the bigger highlight is the first big week of Q2 earnings week with market moves such as Bank of American (BAC), Netflix (NFLX) and Goldman Sachs, among many others, reporting this week.

Also, the Trump-Putin Summit today, Fed news on Tuesday, and China’s Q2 GDP are additional headlines that could give the market a strong push in either direction. As always, my motto is to be ready for anything.

CL got a strong start early, already down more than 70 ticks as of 07:00 EST. Even though CL got the strong start, volume across the board is pretty light.

On the calendar today, Retail Sales and Core Retail Sales at 08:30

 

At the Bell

Only got a small winner off CL on a continuation play after missing the first possible play that would have been a winner in the premarket. Then, out of my mind, took a play on CL right at the open at 09:30 EST that was an immediate loser. Don’t know what I was thinking about taking a play at the bell like that.

NQ mostly bouncing in the premarket and jumping long out of consolidation in the first 5 minutes of the open. Volume still weak, especially on NQ.

 

COB Recap

Completely off my game today. Missed all the would be target plays and only caught some scalps. Even a play around 11:30 EST that would have hit target and got me back in the green today. Took it in a paper trade with ease that quickly worked out.

Should have ended the day up more than $1,100 but best I can do at this point is take it as another learning lesson and do better next time. Having off days is just part of the game. Hoping the stars will be aligned in my favor 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 2, 2018 – Passive Action

Premarket Insight

Eager to get this week started from my weekend study and practice sessions, along with the improvements I made with my execution strategy. However, I am planning to move my start time back a bit to about 7 or 8 AM EST mainly due to the fact that I don’t typically get many good opportunities before this time. Of course, the best opportunities present themselves during normal market hours.

Even though this is going to be a short week it’s not short on news with the market focused on Trump’s involvement with global “trade wars” and oil agreement with Saudi Arabia. Historically, this time of the year is fairly uneventful based on seasoned traders’ sentiment, but this year may be different. (fingers crossed)

As far as the calendar, nothing significant sticks out today. Very interestingly, the markets (looking at NQ – Nasdaq Futures) started off the week early with a major selloff down more than 0.65%.

 

At the Bell

Caught a winner on CL premarket, entering the bell with my 2nd play. NQ continued to sell off in the premarket with a big dip right before the open. May end up watching NQ more today than playing, depending on what CL does.

 

COB Recap

Took a loss on that play on CL at the open then got way too passive with CL’s choppiness. Missed at least 3 opportunities on NQ in my live account but I did paper trade it with success. Good reason to chill on all the passiveness. Should have ended the day with $760! Good motivation for moving forward. Still, green is green so I can’t complain! #NextTime

 

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”

 

Jun 19, 2018 – Shaking out the Bears

Premarket Insight

Trump does it again! Apparently, a news event based on another infamous Trump action caused the markets to take a dive after the close of Monday’s session. Imagine my disappointment when I logged into my charts first thing in the morning to see a move I’ve been waiting on for weeks to happen while I was sleeping.

At the beginning of my trading day, NQ down +75 points (1.04%), currently retesting the selloff. As expected, volume is healthy with more than 81K of volume. Nothing else super interesting on the calendar, except Building Permits as reported by investing.com. Will be interesting to see how the day unfolds.

 

At the Bell

Didn’t get any signals in the premarket so no trades placed. Only took a paper trade on GC with a play that will be used in the future.

As expected, NQ hung out sideways after the aftermarket selloff and popped strong bullish at the open. Staying disciplined to 10 min rule and not taking a play yet. It’s still early, there’s a good chance there will be another opportunity sometime throughout the day.

 

COB Recap

Long story short, days like this I really regret missing trades on previous days. Took a major loss today of more than 2R on my first 3 plays. Also, frustrating that if I didn’t have that 10 min rule, my strategy would have been perfect for the bullish pop at the bell. But that rule is there for a reason. Have to remember I’ve had more loses than winners in that timeframe so better to just let those potential plays be. Honestly, I should have known better than trying to go bearish so aggressively with how far the price had already dropped.

However, even with the struggles and size of this red day, still ended there was still some positives. For one, I didn’t make any mistakes in regard to how to play my strategy. If I had traded like this previous days, today wouldn’t matter much. Secondly, I did confirm that I know how to adjust for these choppy days as I was profitable paper trading with those adjustments. Go figure.

 

P.S. HAPPY BIRTHDAY!!! ?????

Time to go celebrate!

 

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”