09/05/2018 Market Recap

[Cobra]

[Cobra]

SUMMARY:

Since generally I avoid shot so I waited for the trading reversals (long) setup. Unfortunately the 10:30 to 11:00 rebound was just too weak therefore I didn't think the 11:30 high low was THE higher low therefore missed the buy.


NOTE:

The downtrend day call was wrong but "this bear may have legs" was right. The pullback after the rebound was weak though (viewtopic.php?f=2&t=3052&p=258603#p258603).

I failed to realize the rebound could go all the way near the day high. The 10:30 to 11:00 rebound was just too weak therefore I didn't think the 11:30 high low was THE higher low

Recognized 3 push up and the common pattern thereafter right. However the pullback was shallow (viewtopic.php?f=2&t=3052&p=258618#p258618), not a easy money for bears.

So again, it's never easy for bears and this is why I generally would avoid short. Since I failed to see the rebound could go all the way to near the day high, I didn't long either.

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.