07/01/2019 Market Recap

[Cobra]

Will filled black bar leading to a pullback this time? Let's see tomorrow.

[Cobra]

SUMMARY:

Basically a downtrend day the most of the day. However, according to my experiences the pullback should be bought therefore I dare not to short. The rebound did come but it was in the last trading hour so missed the short and unfortunately called the low was in too early.

NOTE:

Strong rebound at ema20 so I thought the low was in here (viewtopic.php?f=2&t=3524&p=270110#p270110). Too bad it was wrong.

After the failed long in the morning, I spent the rest of the day watch, dare not short as I knew there'd be a rebound somewhere, dare not to long as I didn't see clear bottom pattern until 3 pm which was too late for me to long. No conclusion drawn from the close.

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.