11/29/2018 Market Recap

[Cobra]

[Cobra]

SUMMARY:

I was sure it's a range day so kept quiet most of the day but before the last hour the breakout made me believe it's an uptrend day. However the sell off before the close said clearly: All the breakout attempts likely would fail in a range day. Just don't trust anything in a range day, that's it.

NOTE:

Called range day and range low here (viewtopic.php?f=2&t=3191&p=262116#p262116). Excellent if I could've insisted...

Wow, it's a decisive breakout, I became very bullish here (viewtopic.php?f=2&t=3191&p=262134#p262134) so forgot it's just a range day. If it's a trend day it should be clear much much earlier, not just until now.

The ugly close should be enough to cool my head as you can see why in the first post of this thread: Tomorrow will be a key day!

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.

[EkOnkaar]

We hit the downtrend line on the Daily $SPX , connecting the Oct high and the Nov high, before turning back..Also right around the 200 day SMA. IMHO..Bears sitting there right now..

[BullBear52x]

Put/Call index triggered a sell since we are still on a down trend. EOD daily data. What will end this bad spell is bulls must push and make a HH from today's HOD and EOD Put/Call ratio of tomorrow will tell if Bulls are out of the woods. Very bad closed indeed.

lets put the word out that market will crash tomorrow so things can change quickly.

[Cobra]

The biggest bad sign is, I planed to sell some of my swing long positions today but after seeing the 2:30 to 3:00 pm breakout, I decided not to sell and then the sell off before the close made me even more unwilling to sell (because I'd make less money than if I sold around 3 pm). Why it's the biggest bad sign? Because usually when I buy or decide to hold more days, then market tanks and when I sell or decide wait for a few days to buy, then the market skyrockets to the moon!

[EkOnkaar]

Story of every trader's life..it's always a probability When you sell, mkt goes higher. When you hold, it tanks..Only people who make money consistently are "insiders". Traders have to manage emotions and follow a system blindly..take the good with the bad, minimize losses blah blah blah...