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10/11/2019 Market Recap

10/11/2019 Market Recap

Postby Cobra » Fri Oct 11, 2019 5:03 pm

Ugly close so bad sign for bulls, however, we all know it all depend on the trade talk therefore meaningless to guess here. Trading wise, bulls do have a little edge though, see the Weekly Update post later.
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Re: 10/11/2019 Market Recap

Postby Cobra » Fri Oct 11, 2019 5:15 pm

SUMMARY:

Another typical uptrend day turned into a range day. This kind of change has been rare, unfortunately we had 2 in a row. Bad bad luck for the strategy of trading the uptrend days only.

NOTE:

Explained how I'd judge uptrend day or range day here (viewtopic.php?f=2&t=3684&p=273210#p273210).

Bad sign so a warning here (viewtopic.php?f=2&t=3684&p=273231#p273231). The pullback later was unfortunately large enough to trigger the stop loss which usually is below the morning low, very bad.

All the nonsense here were just to let you know I was still watching the market. Guess I should have not said anything.
viewtopic.php?f=2&t=3684&p=273253#p273253
viewtopic.php?f=2&t=3684&p=273258#p273258
viewtopic.php?f=2&t=3684&p=273259#p273259
viewtopic.php?f=2&t=3684&p=273262#p273262

Bad close, but in this news driven market, I don't want to judge what'd happen the next based on 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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