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10/09/2018 Market Recap

10/09/2018 Market Recap

Postby Cobra » Tue Oct 09, 2018 4:13 pm

Still expect a rebound soon, even tomorrow could be down (or V reversal day) which if indeed, it's perfect.

spy.png

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Re: 10/09/2018 Market Recap

Postby Cobra » Tue Oct 09, 2018 4:28 pm

SUMMARY:

Looked like an uptrend day in morning, glad I waited long enough to know it's not. Should be clearer in calling the rebound was over, instead of being diplomatic. The later double bottom call was wrong but no regret, the breakout looked very convincing.

NOTE:

By here (viewtopic.php?f=2&t=3112&p=259661#p259661) it looked like an uptrend day, gladly now I know what to look at so avoided the trap.

I actually meant bulls were over here (viewtopic.php?f=2&t=3112&p=259671#p259671), it's so obvious. I was just trying to be more diplomatic.

Called range right here (viewtopic.php?f=2&t=3112&p=259684#p259684) instead of betting sharp down. No magic, it's just "don't trust bear" thing. Yes, there'll be definitely one day bears are serious but still most of the other days, they should not be trusted so still always betting bears would fail has higher odds.

Called double bottom here (viewtopic.php?f=2&t=3112&p=259696#p259696) and the breakout here (viewtopic.php?f=2&t=3112&p=259708#p259708), it looked very real to me so no regret even turned out the call was wrong.

No conclusion drawn from the close. I actually happy the day closed in red. Consecutive red days ($SPX, SPY no) are better than one day up one day down because it'd mean a rebound is coming soon.
spy.png


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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