08/22/2018 Market Recap

[Cobra]

[Cobra]

SUMMARY:

I wasn't sure what the market was doing so no trade.


NOTE:

By here it looked like an uptrend day (viewtopic.php?f=2&t=3032&p=258307#p258307) at least the coming pullback should be bought. I didn't expect today to up much so I decided to pass.

I was actually sure about double top here (viewtopic.php?f=2&t=3032&p=258319#p258319). Glad I didn't do anything as it turned out again a failed double top AS USUAL. Just don't trust any bear setup, that's what I learnt so far.

I don't know how to comment the close... Treated the day as uptrend day still could make some money at least no harm as long as you're not panic on that double top which usually wouldn't work.

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.