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10/10/2018 Market Recap

10/10/2018 Market Recap

Postby Cobra » Wed Oct 10, 2018 5:19 pm

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Re: 10/10/2018 Market Recap

Postby Cobra » Wed Oct 10, 2018 5:28 pm

SUMMARY:

Called downtrend day right, the rest of the day should then be easy.


NOTE:

I basically called the downtrend day here (viewtopic.php?f=2&t=3114&p=259744#p259744).

Called the temp rebound right (viewtopic.php?f=2&t=3114&p=259752#p259752).

Correctly identified it was just a rebound (viewtopic.php?f=2&t=3114&p=259768#p259768).

It looked a lot like a final leg down as per my experiences (viewtopic.php?f=2&t=3114&p=259775#p259775), so I called a rebound here just in case. It was a right call to me, just the rebound was weak so false alarm for bears.

All the rebounds thereafter had no good follow through so it's easy to hold bear positions therefore I kept quiet.

In the end, a bloody day. The good news is we might not have another down from open to close day for a long time, let's see.
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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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