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06/13/2018 Market Recap

06/13/2018 Market Recap

Postby Cobra » Wed Jun 13, 2018 4:19 pm

spy.png

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Re: 06/13/2018 Market Recap

Postby Cobra » Wed Jun 13, 2018 5:24 pm

DISCLAIMER:

The trading log below 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.


SUMMARY:

FOMC day so no trade. Today was a typical "you're under no obligation to trade everyday. When not sure, just don't trade."


NOTE:

I didn't comment but by here I thought it'd be down and down.
1.png


The at this moment (viewtopic.php?f=2&t=2923&p=255634#p255634), it looked like the low was in. No it was not, so it's essential to wait until the bar closes as it could have totally different meaning.
1.5.png
1.5.png (118.7 KiB) Viewed 333 times


My instinct told me the low was in here.
2.png


But by here (viewtopic.php?f=2&t=2923&p=255642#p255642) I wasn't sure anymore. So again, it's essential to wait until the bar closes.
2.5.png
2.5.png (122.64 KiB) Viewed 333 times


Then by here (viewtopic.php?f=2&t=2923&p=255644#p255644) I was sure "this bull shall have legs". Well, wrong.
2.6.png
2.6.png (124.53 KiB) Viewed 333 times


In the end, gladly I didn't trade. I'm not sure if I could handle down up down up down up down correctly.
3.png

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