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02/13/2020 Market Recap

02/13/2020 Market Recap

Postby Cobra » Thu Feb 13, 2020 5:25 pm

A little long upper shadow today so a little favor bears tomorrow.
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Re: 02/13/2020 Market Recap

Postby Cobra » Thu Feb 13, 2020 5:31 pm

SUMMARY:

Called the double bottom right but the rest of the day I didn't know what to comment so kept quiet.

NOTE:

Right - called double bottom here (viewtopic.php?f=2&t=3873&p=277902#p277902).

Hard to say, according to my definition of a range day it's right as the day was mostly within the last day's range which means it could turn down at anytime therefore I'd try to avoid buy and hold - confirmed range day here (viewtopic.php?f=2&t=3873&p=277902#p277902).

Didn't know whether the 1 pm pullback would be bought or not and didn't know whether the 2 pm breakout would have further to go or not, so kept quiet the rest of the day. I might be able to call the 1 pm "pullback would be bought" right but definitely would say the 2 pm breakout "this bull shall have legs", so gladly didn't say anything.

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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