Jul 19, 2018 – Uneventful Battle

Premarket Insight

Honestly, finding it a bit challenging today to stay optimistic today, even though I clearly realize the reality of how solid my strategy is and how simple it is for me to get back in the green with discipline and consistency. It’s just the fact of how costly my mistakes from early in the week put me in the position of where I’m now fighting an uphill battle that was completely avoidable. Anyway, time to move on!

So far today, everything on my watchlist is playing bearish (NQ, CL, GC). CL and GC dropping hard in the Euro market hours. CL already down more than 80 ticks (1.20%).

My focus today will be on NQ since my current buying power will only allow me to take a play on NQ in my AMP account. Still have enough in my Generic Trade account to play CL and GC, but I really want to stay focused on one instrument for 100% accuracy and consistency.

On the calendar today, Philadelphia Fed Manufacturing Index at 08:30 EST. Not really expecting much volatility from that.

 

At the Bell

Didn’t take a single trade in the premarket, waiting for the open market volume. spent the whole-time back trading and realizing how I’ve been messing up by not sticking to trading my 5-minute timeframe. However, in the process I did improve my skill drastically than when I created my strategy.

Good thing I decided not to trade the premarket today, not a thing but a whole heap of choppiness. In the first 5 minutes after the bell NQ taking off pretty strong bullish. Waiting for a pullback to determine my entry. Need to take only the best entries with my account the way it is now.

 

COB Recap

Somewhat of an uneventful market this morning. Only took 2 trades on GC and NQ getting scalps off both for a very small but satisfying green day. Need to turn this around to where my green days are huge, and my red days are small. I’m doing it backwards right now. However, green is green so can’t complain. And what’s best is I know the problem is with me, not the market. Everyday remember to trade fearlessly with intelligence.

 

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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 12, 2018 – Not Feeling It

Premarket Insight

Turns out yesterday was another day where the strong action was in the afternoon. On my watchlist, currencies (6E, 6B, 6J), crude oil (CL), and gold (GC) sold off hard after the morning session. Actually, they started their initial push after 10:15 EST. Really sucks missing moves like that but I really don’t like trading all day.

So far for today not much has happened with in NQ or CL On the daily NQ looking bullish and for CL some consolidation or additional selloff makes sense today. Staying ready for anything.

On the calendar Core CPI at 08:30 EST.

 

At the Bell

Took two losses early on CL. Price action is just way too choppy. Then it moved strong bearish a whole 96 points after I decided to stop trading until the open market when there should be more action. I missed two easy plays in that move. FML

NQ taking off bullish at the open from not much action in the premarket.

 

COB Recap

Made up my losses with a play on NQ buying the dip from the pullback of the bullish move at the open. Then after my 5-minute break between trades, saw I another play that I missed on CL from its pullback bouncing back bearish.

Might just call it a day today with this small win basically just paying for commissions. Not really feeling it today. Before I started trading today I was mentally preparing myself to take losses today but keep trading, however taking those two losses the way I did early really messed me up.

Key to note is I should have made more than $1,000 today had I been focused and taken all the opportunities. Even with the early big losses. Can say the same pretty much for every other day. Have to remember this as I go into each day with a fresh, positive mindset.

 

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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 6, 2018 – Buy the Dip

Premarket Insight

Ended up not taking a live trade on the Fed news yesterday. The volatility that we usually see on Fed news was not present yesterday. But I did paper trade it for some profit, with one of the plays stepping a bit outside of my rules entering earlier than my strategy would indicate. That decision was based off a stronger indicator that I’ve come to be familiar with through my experience. However, I still would have been profitable sticking strictly to my rules.

Also, I’m getting a bit of a later start to my day today because my neighbors decided to play with their tools during the time I’m usually sleeping. However, I’ve been thinking lately to push my start time back to 8am EST since this is the time when the real volatility typically enters the market. I’ve seen the best opportunities happen after this time. Plus, when I return to the states this will be my start time anyway.

Today volume has returned to normal with a bit of choppiness for the instruments on my watchlist. On the calendar today is Non-farm Payrolls and Unemployment Rate both at 08:30 EST.

 

At the Bell

The market had a huge reaction to the 08:30 news mentioned above, NQ jumped more than 30 points in 5 minutes. That huge spike was followed by a pullback of half of that bullish move.

I ended up not taking any trades in the premarket. I missed one that would have resulted in a 10-tick profit. Looking for the next one. More than likely will only be playing CL today.

 

COB Recap

Missed another one on CL when it had a super big pullback to an area that confused me before shooting up hard more than 70 ticks in 10 minutes. Then it chopped around for a while. Just watching, NQ was chopping bullish after the bell.

Then they both popped, and I caught the pullback on NQ. I never really got the setup I wanted on CL, so I looked over at NQ and bought the dip. Finally ending the day with decent profit of $320. Should have been much more but I cannot complain at all.

Have an amazing weekend everyone!

 

7-6-2018-nq-buy-the-dip
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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”