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12/12/2018 Market Recap

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Cobra
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12/12/2018 Market Recap

Post by Cobra »

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Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 12/12/2018 Market Recap

Post by Cobra »

SUMMARY:

Acted like an uptrend day for half the day. Knew it'd turn down but didn't expect it to turn without a double top or lower high. Maybe up from open to close day now becomes rare, just like down from open to close day was rare before (don't know if still true now).

NOTE:

Called uptrend day here (viewtopic.php?f=2&t=3209&p=262845#p262845). My young Padawan could prove that I told him I said only "uptrend day", not "strong uptrend day", so gladly I wasn't greedy today although didn't make money either.

I knew there would be a reversal down somewhere but didn't expect it this fast, usually should be double top or lower high first (viewtopic.php?f=2&t=3209&p=262867#p262867). So another hard to trade day.

Panic close, maybe gap down tomorrow?
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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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