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05/18/2020 Market Recap
05/18/2020 Market Recap
The bear market rebound usually ends around MA200, so kind of key time now.
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Re: 05/18/2020 Market Recap
SUMMARY:
Thought it'd be a slow uptrend day, so was playing game, missed the uptrend confirmation point. Luckily buy dip did work. Didn't see the sharp sell off in the last 10 minutes. The end result was indeed a slow uptrend day but buy as soon as uptrend day was confirmed and hold until the last 10 minutes could have decent gains, the key was to exit properly (luckily). Usually trading a normal uptrend day is to buy and hold until the close so in this point of view, it was really a slow uptrend day.
NOTE:
Right if simply buy and hold which is a usual strategy trading an uptrend day - called slow uptrend day at open (viewtopic.php?f=2&t=4019&p=282768#p282768).
Right partially - thought it'd be consolidating whole day with small up (viewtopic.php?f=2&t=4019&p=282772#p282772).
Right - called this bull shall have legs here. Since I thought it'd be a consolidation whole day so I started to play a game, missed the point where uptrend day was confirmed, so had to go buy dip approach which why "this bull shall have legs" became the focus (viewtopic.php?f=2&t=4019&p=282784#p282784).
Right - reminded the usual uptrend day buy dip setup. Didn't expect it to go far though (viewtopic.php?f=2&t=4019&p=282797#p282797).
Weak close.
DISCLAIMER:
The trading log above is meant for myself only which main purpose is to help improving my market sense.
Thought it'd be a slow uptrend day, so was playing game, missed the uptrend confirmation point. Luckily buy dip did work. Didn't see the sharp sell off in the last 10 minutes. The end result was indeed a slow uptrend day but buy as soon as uptrend day was confirmed and hold until the last 10 minutes could have decent gains, the key was to exit properly (luckily). Usually trading a normal uptrend day is to buy and hold until the close so in this point of view, it was really a slow uptrend day.
NOTE:
Right if simply buy and hold which is a usual strategy trading an uptrend day - called slow uptrend day at open (viewtopic.php?f=2&t=4019&p=282768#p282768).
Right partially - thought it'd be consolidating whole day with small up (viewtopic.php?f=2&t=4019&p=282772#p282772).
Right - called this bull shall have legs here. Since I thought it'd be a consolidation whole day so I started to play a game, missed the point where uptrend day was confirmed, so had to go buy dip approach which why "this bull shall have legs" became the focus (viewtopic.php?f=2&t=4019&p=282784#p282784).
Right - reminded the usual uptrend day buy dip setup. Didn't expect it to go far though (viewtopic.php?f=2&t=4019&p=282797#p282797).
Weak 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.
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Subscribers can find all the members only posts HERE.
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Re: 05/18/2020 Market Recap
[quote="Cobra"]SUMMARY:
Thought it'd be a slow uptrend day"
Nice trading
Thought it'd be a slow uptrend day"
Nice trading
Re: 05/18/2020 Market Recap
SP.1 June Futures
SELLING < 2,976.25
SELLING < 2,976.25