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08/23/2018 Market Recap
08/23/2018 Market Recap
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Re: 08/23/2018 Market Recap
SUMMARY:
Another day I had no idea what the market was doing so no trade.
NOTE:
By here it looked very much like an uptrend day. I almost yelled so. Luckily since the current bar was a biggest bull bar after a series of bull bars so likely an exhaustion bar therefore I decided to wait for awhile. And also, I admit, that I really couldn't believe it'd be an uptrend day since I was expecting a down and range day. I mean although I've been trying, I simply cannot be completely neutral and react emotionlessly to the market moves ONLY. Almost everyday, I have an expectation on how the market would move, if the market indeed moves accordingly then the trade of that day would be much easier. If the market didn't conform with my expectation, such as today, I'd be confused and tend to not trade. In a few rare cases, I did (proudly) act purely based on the market move although it's completely out of my expectation. I wish I could have more and more such kind of cases.
For the similar reason I mentioned above (widest red bar after serious of red bars), I saw exhaustion here so called the rebound right (viewtopic.php?f=2&t=3034&p=258336#p258336). Yes, by now, I was very glad I didn't yell uptrend day earlier.
The rest of the day, I had no idea what the market was doing, so posted no comments.
In the end, a bad close. So down again tomorrow?
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Another day I had no idea what the market was doing so no trade.
NOTE:
By here it looked very much like an uptrend day. I almost yelled so. Luckily since the current bar was a biggest bull bar after a series of bull bars so likely an exhaustion bar therefore I decided to wait for awhile. And also, I admit, that I really couldn't believe it'd be an uptrend day since I was expecting a down and range day. I mean although I've been trying, I simply cannot be completely neutral and react emotionlessly to the market moves ONLY. Almost everyday, I have an expectation on how the market would move, if the market indeed moves accordingly then the trade of that day would be much easier. If the market didn't conform with my expectation, such as today, I'd be confused and tend to not trade. In a few rare cases, I did (proudly) act purely based on the market move although it's completely out of my expectation. I wish I could have more and more such kind of cases.
The rest of the day, I had no idea what the market was doing, so posted no comments.
In the end, a bad close. So down again tomorrow?
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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StockCharts members, please vote for me HERE, thanks.