11/30/2018 Market Recap

[Cobra]

[Cobra]

SUMMARY:

So according to the lesson I learnt yesterday, I didn't trust the breakout later of the day today so I sold some swing longs into the breakout, although I do believe good news in the weekend but still to me control the risks is the highest priority. In the end maybe it's a real breakout, just it had big up and down swings therefore actually was very difficult to hold the gains so no trust still wasn't too bad.

NOTE:

I meant it's a range day so I wouldn't comment much (viewtopic.php?f=2&t=3193&p=262162#p262162). I'm playing Witcher 3 now. Thought Dragon Age: Origins was deep and was very touched but comparing with the Witcher 3, it's just a baby. Dragon Age was much earlier game though so the comparison might not fair.

A subtle way of "told you so" here (viewtopic.php?f=2&t=3193&p=262172#p262172).

The comment here was finally something that had a little meaning: The minor breakout here didn't change the fact it's still a range day (viewtopic.php?f=2&t=3193&p=262196#p262196), just we may have a new range high.

I actually thought today would close near the high of the day (viewtopic.php?f=2&t=3193&p=262208#p262208). But I would not bet my trade on the guess as per lesson learnt yesterday.

In the end, my guess was partially right, at least we won't know whether the breakout was for real or not until the next Monday. However, the breakout had big up and down swings so it's hard to hold the gains if traded therefore still it's right to not to trust any breakout in a range day. The close wasn't bad but wasn't perfect either so hard to draw conclusion but I believe a truce between Trump and Xi should be, so probably up Monday.

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.