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10/23/2018 Market Recap
10/23/2018 Market Recap
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Re: 10/23/2018 Market Recap
SUMMARY:
Called the low was in right, a little late but it's the safest way.
NOTE:
Explained how I judge what type of the day here (viewtopic.php?f=2&t=3134&p=260331#p260331).
I actually thought the low was in here (viewtopic.php?f=2&t=3134&p=260350#p260350). But I had to be careful because obviously I was so used to the bull market and the situation might have been changed that it might no longer a good idea to always give bulls more credit.
Called the low was in here (viewtopic.php?f=2&t=3134&p=260354#p260354).
Called the pullback target here (viewtopic.php?f=2&t=3134&p=260371#p260371). Believe or not, I knew the day would reverse up and I knew it wouldn't close near high of the day. I just knew. Maybe I finally have some market instinct now.
No conclusion drawn on the close. I'm just glad that the pullback target I called was right. It's important because it helped making trade decision - whether to hold until the last second or whether to buy the pullback, if someone missed early entry.
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Called the low was in right, a little late but it's the safest way.
NOTE:
Explained how I judge what type of the day here (viewtopic.php?f=2&t=3134&p=260331#p260331).
I actually thought the low was in here (viewtopic.php?f=2&t=3134&p=260350#p260350). But I had to be careful because obviously I was so used to the bull market and the situation might have been changed that it might no longer a good idea to always give bulls more credit.
Called the low was in here (viewtopic.php?f=2&t=3134&p=260354#p260354).
Called the pullback target here (viewtopic.php?f=2&t=3134&p=260371#p260371). Believe or not, I knew the day would reverse up and I knew it wouldn't close near high of the day. I just knew. Maybe I finally have some market instinct now.
No conclusion drawn on the close. I'm just glad that the pullback target I called was right. It's important because it helped making trade decision - whether to hold until the last second or whether to buy the pullback, if someone missed early entry.
The trading log above is meant for myself only which main purpose is to help improving my market sense.
- My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.
- Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.
- Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.
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Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.