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03/19/2019 Market Recap

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Cobra
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03/19/2019 Market Recap

Post by Cobra »

See comment on the chart.
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User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 03/19/2019 Market Recap

Post by Cobra »

SUMMARY:

Failed "this bull shall have legs". It happens from time to time so no complain. The sell off was in the last hour which I usually avoid trading so no comments. The close was surprisingly not bad, interesting.

NOTE:

As usual, explained how I'd judge uptrend day or range day here (viewtopic.php?f=2&t=3358&p=266307#p266307).

Called this bull shall have legs here (viewtopic.php?f=2&t=3358&p=266317#p266317). I didn't see uptrend day earlier so by now it's a little late therefore my plan was to buy dip which saved my ass because it's a failed "this bull shall have legs".

It's just a follow up of what I called earlier about "this bull shall have legs" here (viewtopic.php?f=2&t=3358&p=266329#p266329).

Called possible reversal here (viewtopic.php?f=2&t=3358&p=266332#p266332). 51% chances were not good enough to me so luckily I didn't fall for the trap.

I wanted to comment the waterfall by saying "an ugly day" but on the 2nd thought, the comment did nothing to help trade so I didn't say anything. It's near the close and on the downside (which I usually avoid) so I wouldn't trade therefore didn't pay much attention.

The close surprisingly wasn't bad but it could be just bears were very cautious so covered before the close therefore not necessarily a good news to bulls.
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DISCLAIMER:

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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