Aug 10, 2018 – Channel Red

Premarket Insight

Typical Friday, things got going strong early in the Asian market hours, bears all over my watchlist (Futures NQ, CL, GC, and 6E). Doing my volume check around 07:00 EST volume is the strongest it has been all week.

Nothing significant on the calendar today, but with headlines about Turkish economy and Fed inflation with this strong volume there should be some significant volatility in the market today. Regardless, my focus today is to be aggressive with discipline and consistency.

 

At the Bell

Leading up to the bell, NQ bounced sideways in a decent tradable channel. CL brought out the bulls strong, doubling the bearish move from the Asian hours.

QQQ gapping down (of course) to open the market. Yesterday, in RLT’s afternoon swing room, there was a prediction of bulls today if QQQ gapped down. Let’s see how it turns out. In the first 5 minutes the bulls came right in.

 

COB Recap

Simply got slaughtered while NQ bounced in a channel. Was consistent and disciplined with my NQ trades but today was just not a good day for my strategy. Hit my third strike right at lunch so no more trading for me today.

Got a good one on CL but after the frustrating loss on my first play over-managed what would have been a successful target hit. Instead, just took 2 scalps that did very little for my P/L today.

Beyond frustrated with the market and myself!

 

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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”

 

Aug 1, 2018 – Good Start

Premarket Insight

New month, fresh beginnings. On AAPL’s earnings report yesterday, discovered an interesting way to play the last 30 minutes of the futures market session with a catalyst. Something I will be using in the future under the right circumstances.

Speaking of catalyst, today might be a day I play the afternoon session with FOMC statement and Fed Interest Rate decision at 14:00 EST. My morning session results will determine if I play that time or not.

Other events on the calendar, ADP Nonfarm Employment Change at 08:30 EST, ISM Manufacturing PMI at 10:00 EST and Crude Oil Inventories at 10:30 EST. Should have a good start to the month.

 

At the Bell

No trades premarket, officially only trading the U.S. stock market hours. So far, CL has been bearish since the open of the futures session and NQ pretty much trading sideways.

 

COB Recap

Not a bad start to the day and major proof of the power of my strategy in regard to how the wins makes up for the losses.

Missed a couple opportunities on NQ with it wild swings, not feeling comfortable with the entries. Those would have worked but when I finally took a trade it didn’t work out, giving back a small piece of my profits.

Overall, thanks to CL, not a bad start to the month, currently sitting at +$500 on the day. Will be taking a break here, waiting for the Fed news in 3 hours.

 

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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”

 

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”