SUMMARY:
Unexpected uptrend day, glad didn't admit it too late. Disappointing close though.
NOTE:
The market provided a very good chance to know whether the day was uptrend day or range day here (
viewtopic.php?f=2&t=3072&p=259039#p259039). I actually thought of uptrend day much earlier, just because it was not what I expected so I needed much longer time to finally admit what I expected was wrong.
By here it should be very clear that it was an uptrend day (
viewtopic.php?f=2&t=3072&p=259042#p259042). Once the trend is clear, it's never too late to act because one has only one chance to catch exactly at the end of the trend but has many other chances to catch in any middle of the trend.
Called pullback here right. The "may still have leg" part was half right because bulls did try but they failed (
viewtopic.php?f=2&t=3072&p=259056#p259056).
In the end it was a disappointing close. So maybe no good follow through for bulls tomorrow?
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.