12/28/2018 Market Recap

[Cobra]

I don't read today's kind of "Dark Cloud Cover" as bearish yet. More likely the market took a pause here, will decide the direction in the next couple of bars.

[Cobra]

SUMMARY:

Typical range day, it might difficult not to fall into the breakout trap though. I was just lucky decided that I had enough in the past couple of days therefore didn't buy the breakout. So still generally should not trust any breakout in a range day. The yesterday's range breakout was just a few rare case.

NOTE:

By here clearly it's a range day (viewtopic.php?f=2&t=3234&p=263483#p263483) therefore my attention was back to the Witcher 3 again.

Looked a strong buying kicked in here so I thought it'd be up and up till the close again (viewtopic.php?f=2&t=3234&p=263493#p263493). Funny, I was playing at the time and saw sudden strong move up so I immediately switched back to the trading program, put my mouse on the buy button. Didn't click though on the 2nd thought. I mean I'm experienced enough to have a good reflections now.

The close was just a typical range day: Fell from the range high so cannot say bulls were dead yet.

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.