mixed day. ADSK and COL got stopped out after only 2 days. DBO and DBC had a large pullback but they are mutual funds and im thinking i should avoid them cuz even though they cover different things they have the exact same charts, which means they have the exact same buyers and sellers. so its like im betting double on the same buyers or sellers for no reason, kinda risky. CVH, EL and NFLX all look good right now. Nothing looked anywhere near good enough to enter with low volume and many dojis today.
i think i just need more time/trades to really see how the MA's could help prevent pullbacks for me.
when the MA's are close it allows price to puncture them easily.....but this works the other way around too so its not really helping my odds at all to prevent an immediate pullback after entry. looks like im still just as likely to get stopped out. the MTF MA's really wouldnt start preventing pullbacks until price has moved in the right direction for anyways but that happens at some point in every good trade so thats already covered. i need to figure out how the MA's should look to prevent an immediate stop out. i think going back to entering with MA's farther apart but only adding a requirement of price closing past the farthest MA on entry....hmmm...
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