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08/07/2019 Market Recap

08/07/2019 Market Recap

Postby Cobra » Wed Aug 07, 2019 4:42 pm

Officially it's "double bottom or not wait and see". I find hard to believe that the worst was over the market is ready to go up and up again. But my experiences are, whenever I found hard to believe, I should believe the unbelievable while whenever I'm confident, I must be wrong, very wrong. For this reason, I gave double bottom 51% chances.

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Re: 08/07/2019 Market Recap

Postby Cobra » Wed Aug 07, 2019 5:10 pm

SUMMARY:

The calls were mostly right, just they're not what I expected so just did the talk today. I still need to learn to trade against my expectation.

NOTE:

I honestly think bears were over here (viewtopic.php?f=2&t=3583&p=271198#p271198). When I say which one's last chance, I really mean I hope but actually I've already gave up.

I meant I gave up on bears here (viewtopic.php?f=2&t=3583&p=271201#p271201).

Finally the direction was clear. I was so "despair" here for bears (viewtopic.php?f=2&t=3583&p=271203#p271203). Basically called uptrend day here. Just it's already up a lot so better buy pullback instead of chasing high so the focus was to buy the next leg therefore whether this bull shall have legs became important.

Basically reiterate this bull shall have legs here (viewtopic.php?f=2&t=3583&p=271208#p271208), although lost a little confidence. I post a similar one couple of minutes earlier then I realized I didn't say clearly therefore posted this one right after.

Called measured move up here (viewtopic.php?f=2&t=3583&p=271209#p271209).

Reiterated the buy here (viewtopic.php?f=2&t=3583&p=271216#p271216).

It's a subtle way saying told you so here (viewtopic.php?f=2&t=3583&p=271218#p271218). Although in reality, I really wanted to kill myself, how and why I didn't buy in the morning? How could the market be this bullish? #!*#!~&^@$@&$^... please skip 1,000 words here...

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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