3-11-2013

You can't force trades.  When you do you lose money.  Be patient and wait and take the setups as they come.

The best trades I can take right now are the pullbacks to the EMA and trend lines.  The 2 legged pullbacks to the EMA and the trend lines are the best setup I can learn right now.  Focus on that!

I drew Mack's trend lines in black dots b/c that was the correct trend line.  I need to get better at drawing them.

1.  Double top near the overnight high.  Don't really like this trade.  Don't worry about taking these right now.

2.  Thought it was a fake breakout long so I shorted it.  Once I saw the reversal bar form off the EMA I got out at BE.  Should have avoided the trade b/c price had been making higher lows and higher highs on it's way up.  Not a good trade.

3.  Double top at the top of the trend line.  Good in theory but counter-trend trading is not what I need to be focusing on right now.  Look for 2 legged pullbacks to the EMA and the trend lines, not these right now. Don't like this trade.

4.  Pullback to the trend line.  Don't like this trade b/c it wasn't a two legged pullback.  I got impatient b/c I was afraid I was going to miss more of the move.  Don't like this trade b/c it wasn't a two legged pullback or a 2nd entry long.

5.  2 legged pullback to the EMA.  Love this trade.  Great trade.

Missed Trades:

1.  2nd entry long with a short trap.  At this point I couldn't tell if we were in a range or a downtrend.  Market had me confused but at least I did not take a trade I could not see clearly.

2.  Double bottom off of the lower trend line.  I saw this trade and should have taken it b/c I even had the trend line drawn at that point (correct before it turned to be incorrect).

3.  Entry off of a great signal bar off of the EMA.

4.  2 legged pullback to the EMA and my incorrectly drawn trend line.  Also made a double bottom.

5.  2nd entry long pullback to Mack's lower trend channel.  Great setup!