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04/08/2019 Market Recap

04/08/2019 Market Recap

Postby Cobra » Mon Apr 08, 2019 5:14 pm

Since the year 2007, up 8 days in a row, the next day had 14% chances to be up again, so maybe a day or two pullback here soon but since the all time high is very close now therefore it might be just a matter of time we'll see a new all time high.
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Re: 04/08/2019 Market Recap

Postby Cobra » Mon Apr 08, 2019 5:37 pm

SUMMARY:

Basically a V reversal day but since it's mostly in the last trading day's range so I treated it as a range day (therefore avoid buy and hold) and since I didn't foresee it could be up a lot so end up doing nothing today.

NOTE:

Called range day and maybe uptrend day here (viewtopic.php?f=2&t=3389&p=267104#p267104).

Not a bad close, so maybe a gap up 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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