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10/17/2018 Market Recap

10/17/2018 Market Recap

Postby Cobra » Wed Oct 17, 2018 4:28 pm

Maybe pullback tomorrow?

spy.png

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Re: 10/17/2018 Market Recap

Postby Cobra » Wed Oct 17, 2018 4:42 pm

SUMMARY:

Wrong about downtrend day, so need to be careful when the move is within the previous day's range. It's not the first time I called trend day wrong when within the previous day's range.


NOTE:

By here I thought it's a downtrend day (viewtopic.php?f=2&t=3125&p=260087#p260087). Well, wrong and prefect timing - the market reversed up almost immediately.

So for the same reason - the move was within the previous day's range so it should be a range day (viewtopic.php?f=2&t=3125&p=260093#p260093) instead of an uptrend day.

Thought it'd go all the way down to the day low actually (viewtopic.php?f=2&t=3125&p=260102#p260102). Not correct, but it's hard to call range day anyway.

The close didn't look bad.
2.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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