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09/25/2019 Market Recap

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Cobra
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09/25/2019 Market Recap

Post by Cobra »

Maybe the pullback was over, need a strong follow through tomorrow to confirm of course. The thing is, you can wait for confirmation after confirmation, the more confirmation the less risk, however it also means the less profit. You need balance where your confirmation and profit level which is beyond the scope of this recap. For a market commentary, it's much easier as I can always say, maybe the pullback was over, need a strong follow through tomorrow to confirm of course, this way, I guarantee I'm always right.
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Cobra
Site Admin
Posts: 58335
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/25/2019 Market Recap

Post by Cobra »

SUMMARY:

Called breakout right but unfortunately didn't spot the low earlier as at the time it looked like a range day therefore good chances the low would be revisited.

NOTE:

Called range day here. Most importantly it's right saying not expect big down today (viewtopic.php?f=2&t=3658&p=272659#p272659).

Subtle way of saying, hey, I'm awake (viewtopic.php?f=2&t=3658&p=272668#p272668).

Guessed the range high here which lasted until 2 pm so not a bad call (viewtopic.php?f=2&t=3658&p=272672#p272672).

Called breakout here (viewtopic.php?f=2&t=3658&p=272676#p272676).

Basically said this bull shall have legs here (viewtopic.php?f=2&t=3658&p=272678#p272678).

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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