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11/07/2019 Market Recap

11/07/2019 Market Recap

Postby Cobra » Thu Nov 07, 2019 5:27 pm

Probably a pullback from here first then we'll see.
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Re: 11/07/2019 Market Recap

Postby Cobra » Thu Nov 07, 2019 5:36 pm

SUMMARY:

Thought it'd be an uptrend day but fortunately it wasn't confirmed so didn't long. Didn't see the sharp pullback coming, basically it's a downtrend day.

NOTE:

By here (viewtopic.php?f=2&t=3726&p=274144#p274144) and here (viewtopic.php?f=2&t=3726&p=274145#p274145), it looked like an uptrend day was in the card.

Not what I expected but still I was bull biased (viewtopic.php?f=2&t=3726&p=274147#p274147). The trading strategy made based on the chart was right though.

I was really disappointed here, not only as bulls but also as a forecaster. Didn't see the sell off coming, should be caused by a bad news (viewtopic.php?f=2&t=3726&p=274161#p274161). The rebound call here was right though

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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