11/19/2018 Market Recap

[Cobra]

Not good but still bear follow through needed before crying the end of the world.

[Cobra]

SUMMARY:

Identified downtrend day correctly. The rest of the day should then be easy. A little tough to hold till the close though. Short is always very hard to hold anyway, today is far from the worst (for holding).


NOTE:

Explained how I would judge the downtrend or range day here (viewtopic.php?f=2&t=3176&p=261595#p261595).

A diplomatic way of saying the selling wasn't over yet (viewtopic.php?f=2&t=3176&p=261659#p261659).

The close may look like a trading reversals setup is in the making (red arrows). I'm not sure, after all, the market still has a whole night which could change everything.

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.