06/25/2018 Market Recap

[Cobra]

[Cobra]

SUMMARY:

Missed L2 short because I don't trust H1/H2/L1/L2 setup anymore. My mind was on the broken email notification features due to the migration from the 7 years old server to a new cloud server, so didn't long on H&S bottom which at time looked really worth betting.


NOTE:

As usual, gap down, waited to see how the rebound did at ema20 (viewtopic.php?f=2&t=2942&p=256083#p256083).

Failed to even touch ema20, big red signal bar so could be a L2 short here (viewtopic.php?f=2&t=2942&p=256090#p256090). The recent experiments on H1/H2 longs were not good so I no longer trust H1/H2/L1/L2 setup anymore so no trade here.

By here (viewtopic.php?f=2&t=2942&p=256100#p256100) I finally realized it might be a bloody day. It was a little late which unfortunately often happens in a down day simply because down day usually has lots of reversals attempt and to make things worse, it's hard to tell which reversal attempt is just a rebound and which is the reversal. Shorted here still could make money, just it's not easy anymore.

The rebound did get sold, but shorted here might get stopped out later depends on your target and stop loss (viewtopic.php?f=2&t=2942&p=256124#p256124).

By here (viewtopic.php?f=2&t=2942&p=256134#p256134), it looked like a good H&S bottom or trading reversal setup. I wasn't focused today as I've been trying to figure out why the email on the new server stopped working so didn't long. I was just lucky, the H&S bottom failed, SLOWLY which made it much worse.

Now it's a trap for bears here (viewtopic.php?f=2&t=2942&p=256143#p256143) as I mentioned several times, more often than not the market breaks something on the downside then reverses up sharply.

By here (viewtopic.php?f=2&t=2942&p=256149#p256149) those shorted break down might still not be worried as it looked like the rebound would fail.

Well, in the end, it's once again "breakdown then sharp reversal up", I certainly didn't see that coming although I kind figured out what's wrong with the email by spending $45 on a new software which can tell me what was wrong. So I kind lost $45 today?

DISCLAIMER:

The trading log below 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.

[user13]

Thanks cobra. What recent experiments on h1,h2 are you talking about?

[Cobra]

Thanks cobra. What recent experiments on h1,h2 are you talking about?

check other market recaps. you can see either they failed or only could make 1x which I think is not good enough given the winning rate is normally below 50%.