10/09/2019 Market Recap
Posted: Wed Oct 09, 2019 4:25 pm
No idea up or down from here, probably we'd be in a range for awhile.
Spent the most of the day waiting for the pullback from the range high, instead it made a breakout, too late for me to long so I just watched and then before the close, the breakout collapsed which finally made a little sense to me (since I believed it's a range day). Anyway, avoid trading the range day, I'll.
NOTE:
Called range day here (viewtopic.php?f=2&t=3680&p=273120#p273120).
Waited most of the day for the pullback from the range high yet instead it made a breakout so I missed the long (viewtopic.php?f=2&t=3680&p=273141#p273141).
The close finally made a little sense to me: I don't believe Trump would agree with any deal that he won't win 100% and yet still punish China 100% (viewtopic.php?f=2&t=3680&p=273145#p273145)
No conclusion drawn from the close.
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.