03/20/2020 Market Recap
Posted: Fri Mar 20, 2020 5:42 pm
So, it's simple, no 2 consecutive up days no bottom. The bright side for bulls is bears were unable to make 2 consecutive down days as well.
I believed today bulls might finally be able to make 2 consecutive up days so didn't expect the sell off starting from 11 am was 2 legged and able to break the yesterday's low, therefore mostly quiet the whole day until it became clear a breakout on the downside was more likely.
NOTE:
Right as per my standard but it's actually a downtrend day - called a range day here (viewtopic.php?f=2&t=3928&p=280114#p280114).
N/A - I really hoped a double bottom here as I expect an up day today. Come on, betting on the 6th time is still not a charm really needs some imaginations (viewtopic.php?f=2&t=3928&p=280156#p280156).
N/A - I again hoped a double bottom here (viewtopic.php?f=2&t=3928&p=280162#p280162).
No conclusion drawn from the 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.