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05/22/2018 Market Recap

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Cobra
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05/22/2018 Market Recap

Post by Cobra »

Still could be Ascending Triangle so bias (means I guess) still is up. Maybe sharp down tomorrow would change the bias but you should know this is Recap not Outlook, I just "recap" what I see now.
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Cobra
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Re: 05/22/2018 Market Recap

Post by Cobra »

The day trade today.

First of all, let me make it very clear: The day trade log as well as the live update are for myself only, I just happen to put it here on my forum like people sharing photos or articles on their face book, and I just checked, it seems I still have the right for free speech. The log and the live update are never meant for you to follow. It's just a way to FORCE me to read the chart everyday so as to maintain a basic market sense, even better if I can improve it.

For the recent days, I made several bad calls but they're the best I could make at the time, I don't think I did anything wrong as it's the best I was capable of and I'll keep doing so, because again, saying it out loudly is the best way to FORCE me to concentrate on the market so that I can improve my market sense, since whenever I'm saying loudly wrong, I'm embarrassing myself which of course I'd like to avoid as much as possible.

Day trading inevitably would have good days and bad days, and I had several bad days recently, it's part of the day trading life, which I'm very used to now. To me, knowing when not to trade is the currently best solution I have to avoid bad days. If you blame me for making bad calls recently then I guess you're pretty new in day trading.


Guess a range low here (viewtopic.php?f=2&t=2888&p=254524#p254524). Again, range is not a line, so I won't consider I'm wrong if there's a slightly lower low ahead.

Rebounded to range high then went to range low (viewtopic.php?f=2&t=2888&p=254529#p254529). To trade range day, mostly is to guess. I didn't see where the range high was and I didn't care because as soon as I realized it's a range day, I stopped trading (partly because I made several bad calls recently so it's time to stop).

Guessed a rebound to range high here (viewtopic.php?f=2&t=2888&p=254532#p254532). AGAIN, the range high is just a rough idea. I don't believe I called wrong here.

The drop was ugly, but still too early to call breakdown as I've seen a lot a breakdown was followed by a sharp rebound immediately (viewtopic.php?f=2&t=2888&p=254538#p254538), especially in a range day.

I wished I could recognize this breakdown (viewtopic.php?f=2&t=2888&p=254547#p254547) but sorry, I couldn't. Now it's too late to short because it's testing yesterday's low therefore a rebound could be at any moment.

In the end, it's a breakdown followed by a sharp rebound as usual.
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daytradingES
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Re: 05/22/2018 Market Recap

Post by daytradingES »

Hi Cobra,

I hope no one said something out of place.

I appreciate your posts.
Keep up the good work.
Thank-you for the thread.
Educational only and not trading advice (EO&NTA) :)
Good trading to all
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Cobra
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Re: 05/22/2018 Market Recap

Post by Cobra »

daytradingES wrote:Hi Cobra,

I hope no one said something out of place.

I appreciate your posts.
Keep up the good work.
Thank-you for the thread.
Thanks, I'm fine now. Someone offered me some advice which I found hard to accept because I thought he's not experienced so maybe I was over, not someone's fault. Anyway, sometimes I did make bad decision and I'm still angry now although I did believe I was overreacted. Well, at least I learnt something from this incident: I need make it clear when I decide not to trade on the day, this way, people won't be affected by my bad calls. Also I need declare in every of the recap that it is really meant for myself, not supposed to be followed.

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