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09/10/2020 Market Recap

09/10/2020 Market Recap

Postby Cobra » Thu Sep 10, 2020 4:28 pm

No volume surge, no panic, so no bottom?
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Re: 09/10/2020 Market Recap

Postby Cobra » Thu Sep 10, 2020 4:39 pm

SUMMARY:

Not a typical downtrend day so missed. I generally have no confidences in bears so unless it starts strong otherwise I"d still feel comfortable trading upside.

NOTE:

Wrong - called breakout more likely here (viewtopic.php?f=2&t=4201&p=286958#p286958). The market started looking like another strong push up was in the card. Members actually had a statistics yesterday arguing 90% chances down today. The open got me worried that the statistics would be wrong again.

Right - called a range low here (viewtopic.php?f=2&t=4201&p=286970#p286970).

Wrong although I said 51% chances - called the low might be in here (viewtopic.php?f=2&t=4201&p=286979#p286979). The rebound in a downtrend day typically is strong enough to make people think the low was in.

N/A - just a reminder to watch a possible double bottom here (viewtopic.php?f=2&t=4201&p=286987#p286987).

Right as I said "a rebound AROUND here" - just a reminder that a rebound could be due soon (viewtopic.php?f=2&t=4201&p=286989#p286989).

Not right the close wasn't strong but it was not an official call as I have a "?' there - just a comment saying maybe it would rebound till the close.

A disappointing close as I do believe tomorrow would be up.
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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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