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09/05/2019 Market Recap

09/05/2019 Market Recap

Postby Cobra » Thu Sep 05, 2019 5:13 pm

Strong follow through needed. The breakout was expected but the intraday action today was not very convincing to me.
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Re: 09/05/2019 Market Recap

Postby Cobra » Thu Sep 05, 2019 5:23 pm

SUMMARY:

Just when I decided to claim it's an uptrend day the pullback started, the day felling to a boring range day. Didn't expect "the pullback should be bought" took so long to be just partially fulfilled. Noticed the entire forum was silent today, maybe lots of bears, maybe really was nothing to say.

NOTE:

I almost called uptrend day but the pullback started, way stronger than it should be for a typical uptrend day, but still I was confident, the pullback should be bought (viewtopic.php?f=2&t=3627&p=272029#p272029).

Well, the pullback was indeed bought but it took too much time and made only a lower high, disappointing. 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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