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01/25/2019 Market Recap

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Cobra
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01/25/2019 Market Recap

Post by Cobra »

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Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 01/25/2019 Market Recap

Post by Cobra »

SUMMARY:

Called uptrend day too early, good news was later had plenty chances to fix the error. Thought the breakdown near the close was real, which only proved that again we should not trust any breakout in a range day.

NOTE:

Explained how I'd judge uptrend day or range day here (viewtopic.php?f=2&t=3275&p=264693#p264693). It later had a false push up but failed, so the judge was wrong today.

So by here (viewtopic.php?f=2&t=3275&p=264709#p264709) I realized it's just a range day.

I actually meant beware of a breakdown (viewtopic.php?f=2&t=3275&p=264745#p264745).

And for a few SECONDS it did look like a breakdown was for real (viewtopic.php?f=2&t=3275&p=264752#p264752) so I lost my cool. Usually I'd wait at least until the bar closed. I was then just very eager to brag myself - "told you so". Well, nice try.

By here it's clear I was too excited (viewtopic.php?f=2&t=3275&p=264757#p264757).

No conclusion drawn from the close.
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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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