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01/14/2020 Market Recap

01/14/2020 Market Recap

Postby Cobra » Tue Jan 14, 2020 5:27 pm

Doji means indecision, so I have no idea up or down from here. The rumor says no tariff cut until after the election, the market tanked initially but soon recovered, maybe everyone just like me, no longer believe "wolf coming" story anymore, need see confirmed news before reacts, so let's wait.
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Re: 01/14/2020 Market Recap

Postby Cobra » Tue Jan 14, 2020 5:34 pm

SUMMARY:

Started like a range day but after the breakout it looked like an uptrend day when it's too late for me to chase therefore waiting for the pullback and then the news came in tanked the market so I decided to wait therefore did nothing till the close.

NOTE:

N/A - called range day here (viewtopic.php?f=2&t=3826&p=276519#p276519). I actually believed it'd be a range day even before the open.

N/A - I said this bull shall have legs instead of calling an uptrend day, the difference is now it's too late to chase up, I needed a dip to buy (viewtopic.php?f=2&t=3826&p=276528#p276528).

N/A - the news came here which invalidated "this bull shall have legs" so I didn't buy anything (viewtopic.php?f=2&t=3826&p=276539#p276539).

No conclusion drawn from the close. After so many "wolf coming" the market no longer believes there'd be "no deal" anymore. Let's see whether indeed it's another "wolf coming" this time.
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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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