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07/20/2018 Market Recap

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Cobra
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07/20/2018 Market Recap

Post by Cobra »

Pullback wasn't sharp so far so no proof of real bears yet.
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Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/20/2018 Market Recap

Post by Cobra »

SUMMARY:

Guessed morning low and range high right but wrong the rest of the day. At 3 pm the Internet of my living area was down, well, AGAIN, gladly this time I was able to setup the backup Internet quickly so I bet nobody noticed I was off for awhile, thanks for the last time's experiences that took me awhile to setup. I don't blame myself for wrong guesses today because they're inevitable which is the sad nature of the trading life - no matter what in the end it's still a bet of luck.


NOTE:

Guessed the morning low here (viewtopic.php?f=2&t=2981&p=257175#p257175).

Here (viewtopic.php?f=2&p=257186#p257186), I basically meant more pullback which was right.

I meant the rebound would be all the way to the range high, at least near, so the call here was wrong (viewtopic.php?f=2&t=2981&p=257197#p257197).

Another guess of a rebound to range high here (viewtopic.php?f=2&t=2981&p=257207#p257207), which was wrong again. The reason for the guess was the rebound was strong so thought the pullback was over.

Made mistakes twice a day so the Internet kicked me out here, was busy setup the backup Internet so no comments until very near the close. Otherwise would have guessed another low here because the rebound was even stronger than the last time I made the guess.
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In the end, the close was not too bad.
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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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