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08/28/2018 Market Recap

08/28/2018 Market Recap

Postby Cobra » Tue Aug 28, 2018 4:11 pm

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Re: 08/28/2018 Market Recap

Postby Cobra » Tue Aug 28, 2018 4:36 pm

SUMMARY:

Typical gap up, down in the morning then slowly up till close day. Only the up was faded until the last 5 minutes.


NOTE:

Typical gap up then pullback in the morning. Generally it'd be up and up after the morning pullback, so I focused only on where the range low was. Too bad, had to guess twice (viewtopic.php?f=2&t=3041&p=258421#p258421) and (viewtopic.php?f=2&t=3041&p=258426#p258426).

The rest of the day was just like what I said, slowly up and up till the close. The up was faded for awhile but it took bulls only 5 minutes to fixed the most fade. I mean betting slowly up and up still was easier trade than fading the up and up.
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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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