03/02/2020 Market Recap
Posted: Mon Mar 02, 2020 5:38 pm
Very strong bull bar today so generally should still be some up rooms tomorrow.
Fooled twice by bears today. I thought betting on bears those days may have higher odds but unfortunately it's still a typical break down then sharp reversal up.
NOTE:
Wrong - early guess of a range day here (viewtopic.php?f=2&t=3898&p=278908#p278908).
Right but not a simply buy and hold day - called uptrend day here (viewtopic.php?f=2&t=3898&p=278928#p278928).
Right - reminded the EMA buy setup here (viewtopic.php?f=2&t=3898&p=278947#p278947).
Wrong - called double top here (viewtopic.php?f=2&t=3898&p=278953#p278953). I know it'd usually be break down then sharp reversal but I thought since the short term trend now is down so maybe I should give bears a little more credit, well, wrong.
Wrong - called lower high trend reversal here (viewtopic.php?f=2&t=3898&p=278958#p278958). Again because the short term trend is down so I thought I'd better give bears a little more credit.
Right - called breakout here but I actually didn't expect to to go far as usually the very first breakout is fake (viewtopic.php?f=2&t=3898&p=278964#p278964).
Strong close so gap up tomorrow?
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.