12-3-2013

Pre Trading Notes:

1.  Use limit orders for entries with no greater than a 1.5 point stop loss
2.  Draw all trend lines and channels

Post Trading Notes:

1.  Liking the limit entries.  I missed a couple of winning trades but the reduced risk is worth it to me right now.
2.  Need to write down the difference between range rules and trend rules b/c sometimes I get the confused and that is when I get my losing trades.

3.  Mack's lines are in black

Mack's Notes:

1.  You don't have to be precise but you have to be close
2.  Draw your short term trend lines, they help keep you on the right side of the trade

Trades:

1.  9:00 - 2nd entry short off of the pLOD and the upper trend line
2.  9:07 - 2nd entry long and off fo the EMA
3.  9:23 - 2nd entry short off of resistance
4.  9:56 2nd entry short triggered 2 bars over but got in when price tried to retest the high but failed
5.  10:04 - 2nd entry long and a 2 legged measured move down to the support level
6.  11:36 - 2nd entry short off of the upper trend line.  I had not drawn the trend line yet but I was looking for the big 2 legged measured move down after I had the 2 legged smaller correction up to the 15 min low. 

12-2-2013

Pre Trading Notes:

1.  Use limit orders for entries with no greater than a 1.5 point stop loss
2.  Draw all trend lines and channels

Post Trading Notes:

1.  I need to write down the range rules and the trend rules.  Keep this out so I know what to look for when price is doing one or the other.  Right now I just use the trend rules and try to force those into the range rules.
2.  If I was using stop entries for all of my entries then today would have been a losing day.  Since I used limit entries I ended up positive.
3.  There are times to use stop entries, just make sure you are using less than a 1.5 point stop when you use them.  The 2 point stop loss is too much for me to overcome right now.

Mack's Notes:


1.  In a range day once you get to the support/resistance you have to switch to your range rules.  In the middle where there is a trend channel within a range you can use your trend channel rules

2.  Draw your channels and follow your rules.
3.  Stay out of the slop and slow moving small range stuff


Trades:

1.  9:01 - I don't know what this was but I took it and it worked.  Price had mad a new low after breaking the small trend line and had made a double bottom on the lower trend line.  Price then made a triple bottom so I got in looking for price to go to the other side which it did.  The "safer" 2nd entry was two bars over.

2.  9:31 - 2nd entry short at the end of a 2 legged measured move
3.  9:43 - Failed 2nd entry short
4.  10:06 - 2nd entry short at what I thought was the top of the trend channel line
5.  10:36 -  Thought it was a failed 2nd entry short off the EMA and lower 15 min opening support.  I had the green lower channel line drawn higher and if I had left it lower where I originally had it then I might not have taken the trade.
6.  11:38 - 2nd entry short.  Not sure if this is a good trade b/c it is against the trend.  Price had broken out of the trend channel and was looking for a correction.

11-21-2013

Pre-Trading Notes:

1.  Keep taking the main 3 trades
2.  Drop in limit orders.  Do not take those big 2 point losses anymore.  Wait for a setup to signal then drop a limit order in if your stop loss is going to be more than 1.5 points.
3.  Keep drawing all channels and trend lines no matter how small.

Post Trading Notes:

1.  Today dropping in the limit order after a 2nd entry signaled with no more than a 1.25 -1.50 stop loss worked out extremely well.  My scalps were hit sooner and my 2nd contracts were almost all hit............probably tomorrow it will be the opposite...lol.
2.  I still wait for the 2nd entry to signal but now I drop the order somewhere in the previous candle depending on how much risk I want to take.
3.  After listening to the TST video about professional vs amateur traders I need to minimize my risk while following my plan and those 2 point stop losses were too much.  If I am wrong with the limit order entries then it will still be a loss but I will not be in the hole 4 points.  I will miss out on some winning trades but that is okay b/c I think in the long run I will minimize my losses and even turn some losses into winners by scalping out earlier to where this way will be much more profitable.


Mack's Notes:

1.  Good healthy trends that will last for the day are about a 45 degree angle.
2.  A failed breakout will almost run to the other side of the channel/range
3.  The only time Mack says is not a good trading time on the ES is after the close until about 7:30am CST

Trades:

1.  8:31 - 2nd entry long off the lower trend line and EMA
2.  8:58 - 2nd entry long off of lower trend line and EMA
3.  9:07 - 2nd entry long off of lower trend line and EMA
4.  9:26 - 2nd entry long off of EMA and the failed 2nd entry short was one bar over
5.  11:09 - 2nd entry long but was really a failed 2nd entry
6.  11:49 - 2nd entry long off of support level but got shaken out before it turned up again
7.  2:09 - 2nd entry long off of EMA

11-22-2013

Pre-Trading Notes:

1.  Keep taking those 3 main trades and focus on looking for those at correct spots.
2.  Do not look for entries, look for correct spots for an entry.
3.  Keep drawing every trend line you can draw and erase the ones that do not work.

Post Trading Notes:

1.  I am going to start dropping in limit orders b/c I cannot take the 2 point stop loss anymore.  Every time I get one I get really frustrated b/c if trading 2 contracts then that is 4 points I am down if that is my first trade of the day.  I would rather take trades with smaller stop losses.  Mack's rules still apply but I will be using limit orders more, not always but more.  I will probably miss out on some trades but that is okay.
2.  Very hesitant today.  Could not spot very many trades.  Just not confident which is good b/c it slows me down from taking too many bad trades.

Mack's Notes:

1.  Slow day nearing the holidays.
2.  Have to be patient on a day like today.

Trades:

1.  12:07 - A 2nd entry short had already signaled.  Price was in a range after it had broken the small trend line and was at the top of the major trend line so I put in a limit order hoping price would come back.  Price also had room to get out for a scalp before hitting the EMA.

11-20-2013

Pre-Trading Notes:

1.  Keep taking the same 3 trades.
2.  Draw the short term trend lines.
3.  Do not force or make up trades, if it is not clear then do not trade.

Post Trading Notes:

1.  Another rough day.  Trying to learn and do better.  It is still so confusing for me in reading price action.
2.  Going to give it my best shot tomorrow.
3.  Mack's lines are in black

Mack's Notes:

1.  FOMC day
2.  There is always an advantage to getting in early at a better price than to getting in late.
3.  A couple of hours or at least an hour before FOMC announcement the market usually goes into a small trading range

Trades:

1.  9:33 - Failed 2nd entry long
2.  10:02 - Failed 2nd entry long that was a losing trade
3.  10:35 - 2nd entry short
4.  1:06 - 2nd entry short
5.  1:25 - 2nd entry short

11-19-2013

Pre-Trading Notes:

1.  Focus on understand why price is moving.  Analyze and have an expectation.
2.  If you are not sure and have that confused feeling then do not take the trade b/c I am guessing.
3.  Draw the small range areas and watch what happens every time it breaks out of one.

Post Trading Notes:

1.  Tough day.  I hate range days.
2.  There were a ton of trades but I had no idea on which ones were good or not.  I had no confidence.
3.  The last trade was a horrible trade that I moved my stop below the EMA which is quite possibly the worst habit I could start.  I got in horribly b/c price had broken out of the short term trend channel.  Should have followed the trades I only take which for some reason I have a hard time doing.

Mack's Notes:

1.  When it is a range day draw all of your small trend lines.
2.  When you see price is swinging on both sides of the EMA then that is your first clue that it is a range day.

11-18-2013

Pre-Trading Notes:

1.  Focus on understand why price is moving.  Analyze and have an expectation.
2.  If you are not sure and have that confused feeling then do not take the trade b/c I am guessing.
3.  Draw the small range areas and watch what happens every time it breaks out of one.
4   Taking 3 trade setups:  1) Price breaks out of a small trend channel and creates a 2nd entry.  2) 2nd entry at the EMA, trend line or S/R areas.  3) Failed 2nd entry when trending one way and still within the small trend channel.

Post Trading Notes:

1.  Probably my charts just messing up again but none of the lines loaded b/c it showed a huge gap from Friday's session till today's.  Probably not correct.
2.  If I had just drawn the extra line on the initial down trend then today would have been so much easier!  B/c of this mistake I cost myself in a couple of trades.  Live and learn and remember this for you next chart.

Mack's Notes:

1.  Draw your small trend channels
2.  You have to use your range rules on a day like today

Trades:

1.  9:46 - 2nd entry short off of upper trend channel.  Obviously it was a failed 2nd entry short.
2.  9:52 - Realizing I was on the wrong side I reversed my trade.
3.  11:17 - Thought it was a failed 2nd entry long and a 2nd entry short off of the EMA.  Price went up and stopped me out on the 2nd leg of the move before returning down.
4.  2:08 - Failed 2nd entry long

11-15-2013

Pre-Trading Notes:

1.  Taking 3 trade setups:  1) Price breaks out of small trend channel and creates a 2nd entry 2)  2nd entry at the EMA, trend line, S/R area. 3) Failed 2nd entry when trending one way and still within the small trend channel.
2.  Stick to those 3 for right now b/c I will still get plenty of trades.
3.  Draw the short term trend lines.


Post Trading Notes:

1.  Another tough grinding day.  Didn't see many trades.
2.  The one bad trade I am find with b/c I really do not know why it was bad?  Maybe b/c there were 2 dojis in a row and one was the signal bar?  Other than that it seemed to have a great setup that I would take every time.

Mack's Notes:

1.  No video


Trades:

1.  8:13 - 2 legged pullback and 2nd entry long to the bottom of the trend line and the EMA.  The only negative as far as I can tell to why the trade didn't work is that there were 2 dojis and one was the signal bar.  Other than that it is a great setup I will take every time.

2.  9:41 - 2nd entry long off of lower trend line.

11-14-2013

Pre-Trading Notes:

1.  Taking 3 trade setups:  1) Price breaks out of small trend channel and creates a 2nd entry 2)  2nd entry at the EMA, trend line, S/R area. 3) Failed 2nd entry when trending one way and still within the small trend channel.
2.  Stick to those 3 for right now b/c I will still get plenty of trades.
3.  Draw the short term trend lines.

Post Trading Notes:

1.  Missed a bunch of trades today but to me the market was hard to read.  Especially beginning around 10:40.
2.  Took one trade I shouldn't have b/c it wasn't at a trend line or bouncing off of the EMA.

Mack's Notes:

1.  No video today

Trades:

1.  8:41 - 2nd entry short after price had broken the short term trend and made a quadruple top against the top of the trend channel.
2.  9:06 - 2nd entry short off of the top of the trend channel after price had broken out of the small trend channel up.  A failed 2nd entry formed off the EMA one bar over.
3.  11:14 - Failed 2nd entry short after price had broken the small trend channel down but it wasn't off of the EMA or the lower trend line so I got out when the 2 dojis formed.

11-13-2013

Pre-Trading Notes:

1.  Work on analyzing why you are taking a trade.  Think through why I expect a trade to move in a certain direction.  Do not just blindly look for 2nd entries.  Think through it.  I will get much better much faster doing this.
2.  Keep drawing the short term trend lines.

Post Trading Notes:

1.  Good job trying to identify why price is moving and actually understanding what to look for.  This is going to cause a lot of losing trades in the intern but it is the price to pay to understand why price is moving and not just going through the motions.  It is kind of starting over but that is okay.
2.  Do not let your ego get the best of me.  When I have a losing trade then I analyzed the price action wrong so go back during the review and see why I was off in my thinking.  I will learn faster this way.

Mack's Notes:

No video review

Trades:

1.  8:29 - Was looking for a 2nd leg down to a new low. off of a 2nd entry short counting from the previous high.
2.  8:37 - Failed 2nd entry short in an uptrend channel.
3.  9:24 - 2nd entry short and thought it was a failed 2nd entry long after price had broke the trend channel and tried to make a new high but failed.
4.  10:10 - Horrible trade.  No 2nd entry either way.  Just totally misread it as being a failed 2nd entry long.
5.  2:36 - 2nd entry long
6.  2:54 - Failed 2nd entry short at the lower trend line.  I had my entry there near the lower trend line b/c the trend up was so strong.

11-7-2013

Pre-Trading Notes:

1.  2 trade setups to focus on.
2.  The first is a 2nd entry to the trend lines or EMA.
3.  The 2nd is when price breaks out of the small trend channel and fails to create a new high then creates a 2nd entry.  Price could also make a new high but then makes a 2nd entry at the end of a 2 legged measured move.

Post Trading Notes:

1.  It is good going back to the basics.  What happens in my cycle is I start out focusing on one or 2 setups.  Then I see other's I like and try to incorporate those but I end up confusing myself which causes losing trades.  It is good to go back and kind of do the 2 steps forward 1 step back thing.
2.  I've also started using a one point scalp and a 2 point goal for my 2nd lot for the majority of my trades.  It seems I was missing out getting my 2nd lot hit when I would have a prescribed spot for it.

Mack's Notes:

1.  Corrections or consolidation going the opposite way usually last for about an hour before deciding to do something.

Trades:

1.  7:40 - I thought it was a 2nd entry off of the lower trend line.  Got the scalp but very lucky b/c I mis-read the price action.
2.  7:54 - 2nd entry short and one bar over was a failed 2nd entry long.
3.  9:32 - 2nd entry short off of the EMA and a break of the small trend channel up.
4.  9:44 - 2nd entry short off fo the eMA after a 2 legged move up.
5.  10:32 - Failed 2nd entry long and a 2nd entry short off of the EMA.  This was a losing trade because it was a tough trade.  It had most of the characteristics to take so it isn't a horrible trade.
6.  11:39 - 2nd entry short and the failed 2nd entry long was two bars to the right.
7.  1:30 - Failed 2nd entry long and a 2nd entry short off of the EMA
8.  2:00 - Thought price was going to the upper trend line and was a failed 2nd entry short.
9.  2:24 - Failed 2nd entry long off of the EMA.
10.  2:33 - Failed 2nd entry long.

11-12-2013

Pre-Trading Notes:

1.  Draw the short term pull back trend line and wait for the break and retest of the high/low.
2.  If in a an uptrend and you get a pullback draw the short term trend line and wait for price to break it then retest the low before going up again.
3.  If in a down trend and you get a pullback draw the short term trend line and wait for price to break it and then retest the high before going down again.
4.  If you are unsure then do not force a trade.  You have to have a plan for what you think price is doing based on the price action.

Post Trading Notes:

1.  The two main trades I am taking are when price breaks out of the short term trend line against the trend and tries to create a new high but doesn't.  The 2nd one is when you are in a trend and get a 2nd entry signal.  These are the two I am focusing on so I do not confuse myself with the other price action trading setups.  I will miss some trades but will have more winners.

Mack's Notes:

1.  Draw your short term trend lines.

Trades:

1.  9:01 - 2nd entry short and price had broken out of the short term trend channel.  Price tried to make a new high but failed after hitting the top of the trend channel.
2.  9:32 - Same setup as trade 1.
3.  2:23 - Same setup as trade 1.

11-8-2013

Pre-Trading Notes:

1.  Draw the short term pull back trend line and wait for the break and retest of the high/low.
2.  If in a an uptrend and you get a pullback draw the short term trend line and wait for price to break it then retest the low before going up again.
3.  If in a down trend and you get a pullback draw the short term trend line and wait for price to break it and then retest the high before going down again.

Post Trading Notes:

1.  Trust your lines.  If you feel you have a good trend then take trades in the direction of the trend at the appropriate trend line.
2.  Good job on not taking trades when I did not understand what was going on.  There were a couple of times I thought about taking a trade but I was unsure.  Every time I was incorrect.  When I am confused then I do not know what to do so do not trade.
3.  It is okay to miss trades if you are unsure.  Wait until you can identify the setup and are not unsure.  You will get better at identifying them and being confident in the setup and how you are reading price action.  Build on that.  For now it is okay to avoid trades when you are unsure.

Mack's Notes:

1.  He doesn't like entering whenever there is congestion.  The only time he will is when it is at a trend line area.
2.  When small bars keep going in one direction then you are in a strong trend.
3.  Draw your short term trend lines.  They will keep you out of trouble.
4.  This stuff takes time, it is not easy, it takes a lot of hard work.  It is like learning a foreign language.  When you have a loser then go back and study it and see where you went wrong.  If you have a losing trade then you read price action wrong.
5.  Figure out the reasons for why a trade is a winning trade and why a trade is a losing trade.
6.  The more you do this the better you will become.  This doesn't come quickly.

Trades:

1.  7:43 - 2nd entry short off of the EMA and the pLOD.  Also was a failed 2nd entry long.
2.  8:37 - 2nd entry short after price broke the small trend and tested the high before turning down.
3.  9:06 - Failed 2nd entry short.

11-6-2013

Pre-Trade Notes:

1.  Each trading day is different than the last.  I can't make one style of price action fit each and every day.  Let the day develop and go from there.
2.  Work on analyzing why you are taking a trade.  Think through why I expect a trade to move in a certain direction.  Do not just blindly look for 2nd entries.  Think through it.  I will get much better much faster doing this.
3.  UNDERSTAND AND ANALYZE WHY I AM TAKING THE TRADES, Do not mindlessly look for 2nd entries.  It is okay to have losing trades, this is how you learn where your view of price action is incorrect.  You will have more losers in the beginning but I will develop the necessary skills.  Do not give up b/c this will be hard on my ego.

Post Trading Notes:

1.  Good job analyzing and trying to understand price action.  Today I was perfect but just know that during this re-started phase that you will have losing days b/c now I am trying to understand price action and what to look for.

Mack's Notes:

1.  If you know the rules to price action then nothing should surprise you.

Trades:

1.  9:15 - Break of the short term trend channel and a failed attempt to go higher.  Failed 2nd entry long.
2.  11:16 - 2nd entry long off of the bottom of the trend channel.  A failed 2nd entry short developed 2 bars over.
3.  12:13 - 2nd entry long off of the lower trend channel line and the EMA.
4.  2:10 - Failed 2nd entry short off of the EMA.

11-5-2013

Pre-Trading Notes:

1.  Look for long traps in a down-trend to go short.
2.  Look for short traps in an up-trend to go long.
3.  When trying to sell resistance count off the highs.
4.  When trying to buy off support count off the lows.

Post Trading Notes:

1.  Each day holds something different.  I tried to use yesterday on today and got burned early and should have gotten burned later in the day but got in early enough to get scalps.
2.  Today was a pitchfork line drawing day.  Yesterday was not.  yesterday was a range day.  When one thing works earlier in the day it usually works again later in the day.  Mack is always stressing this and I saw it today.
3.  Each trading day brings its own puzzle and each is different than the last.  I can't try to make one price action fit each day.  I am finally realizing this.
4.  WRITE THIS DOWN FOR PRE-TRADING NOTES TOMORROW - When the price action gives you a trend, range, pitchfork line drawing early in the day then it will probably do the same pattern later in the day.  AND each day is different than the last so do not try to tcram yesterday's trading rules into today.  Let the day develop and go from there.

Mack's Notes:

1.  A lot of times when you get an overshoot of the trend line the market may not come back to that area.
2.  Price charts speak a language.  It is like learning a foreign language.  It takes time, effort and hard work.  You will make mistakes in translation, interpretation, etc. but over time you will get better and start to understand it better and better.  It is not rocket science but like learning a new language it takes time.  You have to immerse yourself in trading to learn this style of trading.  You have to trade every day while you are learning.

Trades:

1.  8:30 - 2nd entry long off of pLOD and gLOD.  I thought price was going to go back up into a range but when that 2nd entry short formed off the EMA and the upper trend line then I was toast.  (I had not drawn the trend line yet)

2.  8:38 - 2nd entry long off of pLOD and gLOD.  Still being stubborn I had convinced myself that price was going into a range and move up.  After a 2nd entry short formed, then a double top and another 2nd entry short price finally broke through the pLOD and gLOD.  I finally realized price was in a channel and was going lower.  I think everyone else is wrong and I am right.....lol.

3. 9:02 - Failed 2nd entry long off of the upper trend line.  I had both contracts on the middle trend line b/c I didn't think price was going to go down lower to the very lowest trend line again.

4.  10:35 - 2nd entry long with a short trap off of the EMA and lower trend line.  Finally an easy to read trade that I take 100% of the time.

5.  11:56 - 2nd entry long and a failed 2nd entry short off of the EMA and lower trend line if counting from the top.  I got in a couple ticks better b/c I figured it would probably come back closer to the trend line before moving up again for a scalp.

6.  12:33 - 2nd entry long counting off the shorts.
7.  12:44 - 2nd entry short and a failed 2nd entry long.
8.  1:56 - Failed 2nd entry short off of the EMA.  Got in before it signaled so not sure if it was a good trade.
9.  2:24 - 2nd entry short off of resistance.  Should have scalped out both contracts and seen that the pOPEN is now support and that price is in a range.

11-4-2013

Pre-Trading Notes:

1.  You are looking for long traps in a downtrend to go short.
2.  You are looking for short traps in an uptrend to go long.
3.  Do not counter-trend trade.

Post Trading Notes:

1.  Looks like my chart did not load correctly which is very frustrating so my gLOD was not correct.  Obviously none of the other lines were correct except the gHOD.  Luckily the gLOD turned out to be the perfect support level.
2.  Have to figure out why some nights my charts do not load correctly the previous days session.  Seems to always happen on Monday trading days.
3.  Range trading day.

Mack's Notes:

1.  The worst thing you can do is force a trade on a day like this.
2.  Get up and leave if it is a bad trading day.
3.  You don't want to enter in a lot of congestion.
4.  Today is a day when you have to learn to be patient.

Trades:

1.  8:36 - 2nd entry short with a long trap off of a false breakout of the gHOD.  Looking for price to go down to the EMA or the gLOD.
2.  10:13 - 2nd entry long with a short trap off of the gLOD.
3.  11:14 - 2nd entry long and a short trap off of the EMA.  I think I counted this correctly but I am not sure.  My reasoning was that price had made it's two legged move down to the gLOD so it was more than likely heading back up to the gHOD and I was looking for any setup to get back in.

9-26-2013

Pre-Trading Notes:

1.  You are looking for long traps in a downtrend to go short.
2.  You are looking for short traps in an uptrend to go long.
3.  Do not counter-trend trade.

Post Trading Notes:

1. Hard day to find the correct overall trend line.  Did not find out what it was until after 2 pm.
2.  Good job trading off of the pre-drawn lines.  These are one of those "Ah-ha" moments.  If I wasn't using these and was still relying on myself to draw the S/R lines then today probably would have been a losing day.  Seeing how price gravitates to them and how it plays off of them (especially the pHOD and pLOD) makes this so much easier.
3.  Remember that price moves in twos so start trying to anticipate when you are in one and when there is a correction in the transition between a 1st and 2nd leg.
4.  Got caught in one bad trade but quickly reversed and went the other way when I realized I was caught on the wrong side of the trap and that price was probably in a 2nd leg going up to the pHOD.

Mack's Notes:

1. A live trade day.  I used to like these but I would rather see him review the full day than one trade he was in.
2.  He went over the trade I messed up on and then reversed.  It shows how and why traps work.

Trades:

1. 8:02 - 2nd entry long off of the gLOD.
2.  9:41 - 2nd entry short.  Was looking for price to go down to the
3.  10:21 - 2nd entry short off of what I thought was the upper trend line.  Obviously not.
4.  10:21 - Failed 2nd entry short after a 2nd entry long had already signaled off of the pOPEN.
5.  11:45 - 2nd entry short off of the pHOD and the gLOD.  Price had made a 2 legged correction move back to the pHOD which I figured was now resistance and that this was the beginning of the 2nd leg down.  I had my stop 2 ticks above the pLOD.  I didn't thin price would go through the pHOD to go retest the gHOD.
6.  1:25 - 2nd entry short off of the EMA.

11-1-2013

Pre-Trading Notes:

1.  When you are trying to sell resistance you are counting off of the highs.
2.  When you are trying to buy support you are counting off of the lows.
3.  You are looking for long traps in a downtrend to go short.
4.  You are looking for short traps in an uptrend to go long.
5.  Do not counter-trend trade.

Post Trading Notes:

1.  Great movement for a Friday.
2.  Felt I did decent.  Got confused on my one bad trade.  Missed a couple of good trades b/c the trend lines and S/R lines were both at an area and I did not know which one to go with.  I need to keep on looking for price in context with the movement.
3.  There was a text book 2 legged measured move down and then a move to a new low before price shot back up.  I missed the 2 legged measured move which caused me to miss a good trade.


Mack's Notes:

1.  If you can get about 3-4 ticks close to the end of a measured move then that is a good trade.
2.  Trying to pick tops and bottoms is the least reliable pattern.  Not a good strategy.

Trades:

1.  9:06 - 2nd entry long off of the lower trend line and the gPH after a 2 legged move down.
2.  9:29 - Failed 2nd entry long off of the EMA.  I got out for a 1 tick profit b/c I should have waited for a 2nd entry short.
3.  10:38 - Failed 2nd entry long with a long trap off of the EMA and gPLOD
4.  11:45 - Failed 2nd entry short.  Shouldn't have taken it b/c was at the gPLOD.
5.  2:05 - 2nd entry long with a short trap off the EMA and a faield 2nd entry short.

10-31-2013

Pre-Trading Notes:

1.  Expand your horizon, look for the big overall trend.

Post Trading Notes:

1.  Ice burgs are really interesting.  (They are a signal from Jigsaw you can have signaled on your charts)  If you get one on the bid side when you are looking to take a 2nd entry long then it seems like that is another really strong indicator you should take the trade.  It doesn't look like they are too strong by themselves outside of a S/R or a trend line.
2.  The pHOD,pLOD, pOPEN and pCLOSE worked out beautifully today.  So thank you Richard and Welly for that advice to put them on my charts.  I didn't have the same problem yesterday of wondering where the support and resistance areas were.
3.  I still think I struggled down at the pLOD b/c I was taking too many longs.  I think I needed to look for some shorts off of the EMA until the fake breakout occurred.
4.  Tons of trades today but the pre drawn lines I mentioned in #2 made it so much easier.  I still struggle with what to do when a trend gets to a support or resistance area.
5.  Mack's lines for S/R are pretty much the exact same with the pre drawn lines recommend by Richard and Welly....wow!  That makes it so much easier!

Mack's Notes:

1.  When you are trying to sell resistance you are counting off of the highs.  When you are trying to buy support you are buying off of the lows.
2.  If you are reading PA correctly then you will rarely be on the wrong side of a trade.
3.  You are looking for long traps in a downtrend to go short.
4.  You are looking for short traps in an uptrend to go long.
5.  Do not counter-trend trade.

Trades:

1.  8:30 - 2nd entry long off of EMA and measured move of the trend line moved over.
2.  8:45 - 2nd entry short off of the upper trend line and the pClose.  A counter trend trade which is usually never a good idea.
3.  8:47 - Double top with an iceberg order against the upper trend line.
4.  8:52 - Two iceberg signals hit at the lower trend line.  Guess I should wait for those 2nd entries.
5.  8:56 - Failed 2nd entry long
6.  9:10 - Trap bar at the pLod.
7.  9:13 - 2nd entry long off of the pLod
8.  9:32 - 2nd entry long off of the lower trend line.
9.  9:41 - 2nd entry long off of the fake breakout of the pLod and maybe the bottom of a trend line.  Got out at what might be the top of the trend line, not sure at the moment.  (Nope, was a made up trendline I made.  I deleted it)
10.  11:07 - 2nd entry long off of the EMA and lower trend line
11.  11:49 - 2nd entry short off of the upper trend line and the pClose.  Also had an ice burg on the offer.  Got out at the EMA when an ice burg signaled at the bid.
12.  12:40 - 2nd entry short off of the pClose.  Guess I shouldn't have taken it b/c it was still in a trend and above the EMA.
13.  2:06 - Failed 2nd entry long

10-30-2013

Pre-Trade Notes:

1.  Keep drawing all of the small trend channels and S/R levels.
2.  The market usually moves in 2's.
3.  If price has been above the EMA for over an hour then it is in an uptrend.  DO NOT TAKE SHORT TRADES!
4.  Wait for price to come back to your trend lines and S/R areas.  Do not chase.  Be patient.  IF you are unsure then do not trade.  You  have to have a clear vision of why you are getting in a trade and know what it looks like, where you will exit and what you will do if the trade does not develop.

Post Trade Notes:

1.  I got frozen up bad for the first part of the day.  When I do not know where the S/R area is but I am in a trend I am unsure if to take a trade or wait b/c it is close to what could be a S/R area.  Price was in a down trend in a good channel but I thought it might have been less than a scalp from a support area so I didn't take the trade.  Which overrides which??????????

Is the channel greater than the potential S/R area or is the potential S/R area greater than the channel?  After the fact it is easy to tell but in the moment I struggle greatly.

2.  For all missed trades I am going to explain them on my charts.  The violet colored circles are ones that I saw.  The yellow circles are ones I missed and got from Mack's review.

3.  I think I am making up support/resistance areas.  It is messing me up.
4.  The good news is I was patient and didn't take trades where I was unsure which was very frustrating and I felt that frustration building up.

Mack's Notes:

1.  We are not just pattern traders.  We have to take every thing in context and make our decision off of that.
2.  You can get a 3 legged move.  Generally the 2nd leg will be the longest and the 1st and 3rd leg will be around the same length.
3.  Even during news price action is still valid.
4.  Draw your short term trend lines b/c they are valid and they help you stay on the right side.

Trades:

1.    12:05 - 2nd entry short off of upper trend line.  Got out with 2nd contract at a volume cluster area.  Should have stayed in until the lower trend line.

10-29-2013

Pre-Trading Notes:

1.  The market is symmetrical.  When you find a good trend channel then draw it over in a measured move b/c price seems to bounce off of those areas as well.  This also seems to work in a range as well.
2.  Keep drawing the range bars even in just small support/resistance areas.
3.  Wait for price to come back to your support and resistance areas as well as your trend channels.  Do not chase or get in early with a false signal.
4.  If price has been above the EMA for over an hour then it is in an uptrend.  Opposite side for a downtrend so DO NOT COUNTER TRADE!!!!!

Post Trading Notes:

1.  For some reason today I could not see the trades when doing my review.  The violet circles are trades I saw after the fact but I had trouble spotting them at the correct time.
2.  Maybe I am struggling drawing my S/R lines b/c those kept me out of the big runner around 11:07 b/c I thought price was too close to the resistance area.  Obviously it was not.
3.  I didn't see the big channel until after the good runner trade happened.
4.  Better job in spotting the overall trend channel.  Getting quicker but still lagging.
5.  The trade at the end of the day I shouldn't have taken b/c it was too late in the day but the setup was beautiful.

Mack's lines are in black.

Mack's Notes:

1.  A failed 2nd entry short is when price breaks above a bar before it reaches the scalpers profit.
2.  You don't want to get long too close to the previous high after the first break of a trend line.

Trades:

1.  9:25 - Failed 2nd entry short off of the EMA.
2.  2:38 - Thought it was a 2nd entry long off of the main lower support channel line.  Turns out it was a 3rd entry which isn't a trade setup.  The entry bar created a nice trap almost off of the lower trend line and I rode it to the top of the trend line.

Missed Trades:

1.  7:39 - 2nd entry long and a failed 2nd entry short off of the lower trend line.
2.  9:58 - Trap that reversed off of the support line.  It looked like it was a failed 2nd entry and I also had my support area lower from the previous swing low.  I saw this trade after the fact but missed it when doing my review (obviously).
3.  11:07 - 2nd entry long off of the EMA.  There was also a short trap at the swing low.
4.  12:47 - 2nd entry long off of the EMA and lower minor trend line.

10-28-2013

Pre-Trade Notes:

1.  If you find a good trend line then just use the measured move to extend it up or down.  It seems to work a high majority of the time!
2.  Keep drawing all of the support/resistance areas.
3.  Added the Previous Days High and Previous Day Low to my charts.

Post Trading Notes:

1.  If price goes through one of the measured lines w/o even acknowledging it then should I not worry about it when price comes close to it again?  It seems that is the case.
2.  Finally found the big green line channel at the very end of the day.
3.  It seems the measured line trend lines seem to work pretty well.  Got a lot of good bounces at 2nd entries off of them.  Going to keep using these.
4.  Today was a range day but you can see how price still bounced off of the measure move trend channels.
5.  The 2nd trade I could have ridden all the way to the high of the day.  Live and learn.
6.  He has a "Premium Room" on his website now.  I'm not sure what to think about this. It is a cheap price but still an interesting turn this has taken.  Who am I kidding, if people would pay to read what I write then I would do the same thing.
7.  All of my trades were trades he took.  Very encouraging.
8.  You need to have room to at least get a scalp when you get a 2nd entry signal.

Mack's Notes:

1.  Range day today.  Not a lot of trades today.
2.  If price tries to do something 2X but fails each time then it is usually going to go in the opposite direction.
3.  You can tell how good a trap was by how fast price moves.

Trades:

1.  8:43 - Failed 2nd entry short off of resistance and a 2nd entry long.  I used the Jigsaw to get in early but I am unsure if I did it correctly.  I saw that the large orders (orders over 100 lot) were stacked in favor of the bulls around this level.  The buy orders outnumbered the sell orders on almost every level from where I entered to 6 ticks higher.  Since this was setting up to be a 2nd entry long and a failed 2nd entry short I entered early based on Jigsaw.  Still not sure if that is sound reasoning in my interpretation of tape reading.  I got out when the sell orders triumphed the buy orders at a couple of levels and I also had a two legged measured move.

2.  10:03 - 2nd entry long off of support area and the measured trend line down I did 2X.  It fit very nicely with the support area.  When the failed 2nd entry short signaled then price took off after touching the lower trend channel and the support area.  Also a bunch of trades of over 100 came in around the 1753 area.  Got out when two blocks totaling over 900 contracts entered.  Not sure if that is a correct exit b/c I wanted it 3-4 ticks higher at the next trend line.  (Obviously that wasn't a good move b/c price went up 6+ more points...lol)

3.  1:42 - 2nd entry long.  Should have waited for price to retrace to the EMA and then taken the trade.  Still was able to scalp out.

Missed Trades:

1.  9:02 - 2nd entry long and a failed 2nd entry short off of the lower trend line.  I saw this trade but hesitated and did not take it.  I should have taken it b/c it was a great setup but for some reason I didn't trust the trend line even though it had proven to be good.
2.  9:23 - 2nd entry short counting from the previous swing low, an overshoot of the trend line and testing a previous resistance area.  It was also far away from the EMA.
3.  2:40 - 2nd entry short off the EMA
4.  2:50 - 2nd entry long off of the main trend line and a 2 legged move down.  This trade was too late to take in the day and I didn't see the main trend line here until the swing low formed.

10-7-2013 Review Session

Pre-Trading Notes:

1.  Draw all trend lines and support/resistance areas.
2.  Look for fake breakouts of support/resistance areas.

Post Trading Notes:

1.  Good job on the trend line drawing.  Felt I did well in identifying the correct trend lines and ranges.
2.  Bad job in getting caught up in congestion while in a range.
3.  Once you have a good trend line and price breaks out of it then draw the measured trend line over b/c more often than not it fits.  That is exactly what happened on the upside and downside today.

Mack's Notes:

1.  Don't trade every day.  Take some time off every now and then.
2.  As you trade longer the thrill begins to fade and it becomes boring.  It is good b/c you will be getting better with your emotions but also it means you will need to take a brake and recharge your batteries.
3.  When you get your trend lines correct then they will fit very well on both sides.  When you learn to get them to fit properly then your success will increase.
4.  You confirm your trend lines by getting multiple touches on them.
5.  There is always a channel and if you look hard enough you will find it.

Trades:

1.  8:34 - 2nd entry long off of support area.
2.  10:16 - 2nd entry short off of upper trend line.
3.  10:43 - 2nd entry long at upper trend line and resistance area
4.  10:55 - Double top at resistance and fake breakout of trend line.
5.  11:39 - 2nd entry long off of the lower trend line and the end of a 2 legged measured move down.
6.  12:39 - Missed the orginal 2nd entry long at 12:11 b/c the entry was too far away for my stop loss but price came back and filled my entry.  Should have gotten out where the resistance and middle trend line of the pitch fork intersected but got greedy.  Gave up about 1.5 points but still a good trade.
7.  1:21 - 2nd entry long off of the EMA.
8.  1:58 2nd entry long off of the EMA.  Should not have taken it b/c was in a ton of congestion.

Missed Trades:

1.  8:41 - 2nd entry long off of the lower trend line and a failed 2nd entry.  I missed getting in b/c the original entry was too much for my stop loss.  I was tardy in dropping my limit order in and it took off on me.
2.  9:05 - 2nd entry long off of the EMA and the resistance turned support area.  Saw this trade but didn't take it b/c I just didn't trust my lines for some reason.  Lack of confidence and also thinking that price was going back to the lower trend line.  All bad reasons.
3.  9:20 - Failed 2nd entry short
4.  10:46 - Failed 2nd entry short.  This trapped me on the wrong side.
5.  12:11 - 2nd entry long off of the lower trend line.  I missed it b/c the entry was too far for my stop loss.
6.

10-25-2013

Pre-Trading Notes:

1.  Continue to draw all trend lines but try to make sure they are not so narrow.
2.  Do not trade unless you are confident in the trend line and you know if you are in a trend or a range.

Post Trading Notes:

Got fooled once but I see in  his review he is going to talk about it so that is good.  Felt I did a good job of finding the trend and/or range lines.  Still have much to improve in that area but getting better.  Missed 3 trades that popped out after they formed.  The last one was because I was being lazy and watching football while I had the re-player running.

Keep practicing and you will keep on improving.
Mack's lines are in black.

Mack's Notes:

1.  Range day.  He didn't say anything that stuck out to me.

Trades:

1. 8:55 - 2nd entry short off of the lower trend line and the EMA signaled at 8:49 but it came back and got me in for a scalp.

2.  10:19 - 2nd entry long off of the lower trend line and/or support area.
3.  11:09 - 2nd entry long but didn't wait for the trend line.  Got greedy and tried to use the support area.  Trend line was good so should have used that.
4.  11:19 - Not a 2nd entry b/c that was my last trade but price created a doji at the lower trend line and I knew the trend line was good so I took it.  It was also a failed break of the range bottom.
5.  2:40 - Missed the intial 2nd entry long at 2:19 but price came back and got me in.  Had my 2nd lot on tick below the high of the day.

Missed Trades:

1.9:02- 2nd entry short off of the upper trend line and the end of a 2 legged measured move.  Mack didn't mark this trade but I like it for the reasons listed above.  It is against the trend though.
2.  9:49 - 2nd entry long off of support and price had broken out of the small trend line down.  This is a trade I just missed.
3.  10:35 - 2nd entry short off of the upper trend line and Mack's range line.
4.  12:22 - 2nd entry short off of the upper trend line and close to the resistance area.  Mack didn't have this setup.
5.  1:07 - 2nd entry long off of the EMA and a failed 2nd entry short if counting from the previous swing high.

10-24-2013

Pre-Trading Notes:

1.  Continue to draw all of the trend lines but look for a swing to get a good feel for where it is.
2.  IF YOU ARE NOT CONFIDENT WITH YOUR LINES OR KNOWING IF PRICE IS IN A RANGE OR A TREND THEN DO NOT TRADE!!!!!  There will always be another trade.  Only trade when I know.

Post Trading Notes:

Still got confused until later in the day when I saw the easy channel.  The price will not always fit perfectly in my channels or ranges.  I have to remember this.  It will fit "pretty good" but it will not be perfect.
When price is going through the EMA each way then look for a range rather than a channel.  Price may end up forming a channel but when it is going through the EMA with no problem then price is in a range.

I didn't take any trades near the open b/c I was still gun-shy about yesterday and trying to make certain that I knew we were in a range or a trend.

Mack's Notes:

1.  You would like to see multiple touches on a line to confirm it.
2.  He thinks the double bottoms/tops is more powerful to have one tick go through the double bottom/top b/c it traps a bunch of people on the wrong side.
3.  If prices are mostly below the EMA then you are in a downtrend.
4.  If prices are mostly above the EMA then you are in an uptrend.
5.  If prices are swinging from side to side on the EMA then you are in a range.
6.  On range days you have to buy the lows and sell the highs.
7.  If you stay with the trend on a trend day you will improve your odds.
8.  The market moves in a geometric fashion.  He doesn't understand why it does this but it does.
9.  Always re-evaluate your lines.
10.  Follow your trend channels and stay with them.  Wait for price to come to your channel lines.

Trades:

1.  8:49 - Failed 2nd entry short at the lower trend line.  Probably was too close for a scalp but I at least got that.
2.  9:02 - 2nd entry short off of the upper trend line of the pitchfork.  Not sure if I like this trade.
3.  9:24 - 2nd entry short off of the upper trend line.  Not sure if I like this trade.  It was also the end of a 2 legged measured move so that helped in my decision.
4.  1:16 - 2nd entry long off fo the bottom trend channel and the EMA.  This was a very good trade.

Missed Trades:

1. 8:32 - Failed 2nd entry long off of the middle/upper trend line.
2.  8:39 - Failed 2nd entry long off of the EMA and middle/upper trend line.
3.  9:32 - 2nd entry long and a failed 2nd entry off of support.  Turned out to be the lower trend line but I did not know that at the time.
4.  11:49 - I don't know what this is but this is a buy off of the lower trend line.

10-23-2013

Today I got absolutely destroyed.  I threw away my charts because it would do no good to review them.  They were nothing but fail.  I could not find the major trend channel or the support/resistance area so I could not determine if price was in a trend or a channel.  As soon as I thought I would find it and take a trade then price would blow right through it for a loss.At the end around 1pm I started taking "revenge" trades.  That's a horrible thing to develop.  I knew I was done and wasn't even going to come back at a later date to re-do today b/c I will remember this day for a long time.

Right when I think I am getting the rules down this happens which is good b/c it goes to show I am so far from going live that it isn't even funny.  Oh well, a good kick in the teeth is needed from time to time to re-enforce how much further I have to go.  I seriously got destroyed.  I don't think I have had this bad of a day the whole time I have been doing these.

I'm going to watch Mack's video, take notes and then go to bed.  This was absolutely crushing at how bad I did.  Wow.  I could not find the trend or channel for the life of me.
(After watching Mack's videos I am drawing the small trend channels to narrow and not waiting for 2 swings to form for a lot of them.  I am also looking for perfect symmetry in my line drawings but most of the time it is "close" and not perfect)

Mack's Notes:

1.  Mack makes it look so easy.
2.  If you can't reach a target of a 2 legged measured move then price is going to reverse.
3.  Range rules - Buy lows and fade the highs.  You can do this in a big trend as well but they are an aggressive trade.
4.  It's better to have your 2 point stop a tick or two above/below the signal bar.  He likes to keep his 2 ticks above/below the signal bar.
5.  Whenever price is on both sides of the EMA then that is a good sign that we are in a range so you should buy every new low and fade every new high.

10-22-2013

Question:  How do you get the bars to load from the end of the previous day's session using the market re-player?  Every day I get a big gap from when the day closes to the beginning of the current day.   I have the time period set to "24/7 default."  It messes me up at the beginning of each day.

Pre-Trading Notes:

1.  Focus on drawing the correct trend lines by drawing all of the smaller trend lines within the move whether it is a range or trend.
2.  Remember the setups of when price breaks out of a trend and what to look for.  If in an uptrend it will either create a HH or a HL.  Know how to react to each of these.  Opposite is true for a downtrend.

Post Trading Notes:

Today confused the mess out of me until I finally saw the upward trend around 11:51.  I missed a good trade but I could not tell from 9:56 until 11:51 if we were in a range or a trend.  The huge moves at the beginning of the session through me for a loop as well.  I could not figure out if we were in a range or a trend so I was confused as to what set of rules to follow which is why I missed out on a trade.  I like that I did not take any trades when I was confused if we were in a range or a trend even though I wanted to b/c I did not want to "miss out."  I felt that emotion tugging at me very hard today.  Good job in not giving in.

Once I figure out if we are in a range or a trend then everything becomes clear on what to do.  That is my biggest goal right now.  Find out as soon as I can if we are in a trend or a range.  Drawing the minor trends within the range or trend helps out extremely well.

Mack's lines are in black.
The trades I missed but saw are in violet.
Mack's trades I missed are in yellow.

Mack's Notes:

1.  When you have a news spike then price will usually come back and take out the spike.  Then price will reset and start over.
2.  You need 3 or more overlapping bars with one of them being a doji for it to be congestion.
3.  Draw your short term trend channels

Trades:

1.  8:50 - 2nd entry long, failed 2nd entry short, 2 legged pullback, first break out of the trend channel (or at the bottom of the pitchfork channel I created).  Lots of reasons to like this trade.  Didn't have a target so kept my 2nd contract 2 ticks under the previous bar until I was stopped out.
2.  9:49 - Failed 2nd entry long.  Not sure if this was a good trade but I do not know how to get the end of day bars from the day before to show up on my chart so a big gap is created every day and I do not know how much it skews the EMA.  So price could have been far away like it is or close to it.  I am thinking this is a bad trade since price is too far from the EMA and there has been enough time to straighten the EMA out from the missed over night bars.

3.  11:30 - 2nd entry short.  Thought price had overshot the resistance line and is going back to the other side.  At least got a scalp.
4.  1:34 - 2nd entry long off of the lower support channel.

Missed Trades:

1.  9:01 - Failed 2nd entry short off of the lower trend channel.
2.  10:23 - Failed 2nd entry long
3.  10:36 - 2nd entry long off of the lower channel line
4.  10:51 - Failed 2nd entry short
5.  11:51 - 2nd entry long off of the lower support channel and a 2 legged move to the lower trend channel
6.  12:39 - Failed 2nd entry short off of the EMA

10-21-2013

Pre-Trade Notes:

1.  Focus on re-drawing correct trend lines until you have them correct.  Major and minor trend lines.
2.  Focus on recognizing if we are in a trend or in a range.
3.  In a trend price will break out of the trend line to the downside and then go up and create a newer high before going into a range.  Or price will create a lower high and then create the 2nd leg lower before going into a range..  The first leg is the lower high. Opposite is true for when in a down trend.
 
Post Trade Notes:

Started re-reading Mack's book again and it really does help.  I will read it once per week b/c it has helped me to remember and make clearer some issues I was struggling with regarding the trend line breaking and when to know that price is probably going the other direction.

Pretty decent day.  Only took one bad trade that missed getting a scalp by one tick.  It is a good lesson to learn b/c I did not give myself enough cushion for the scalp.  I thought I had b/c I was looking at the previous low but when price creates a higher low which signals a reversal then you cannot count on the previous swing low.  Good lesson to learn.

I like how I drew all of the trend lines (major and minor) and waiting for the rules about the break of the trend lines and then either a higher high/low or a lower high or a higher low before the reversal.  Reading that part in Mack's book really did help today.

The yellow circles are the trades I did not see until Mack's video review.  The violet circles are the trades I saw after the fact but missed when trading (in simulation).

The lines in black are from Mack's video review that I did not draw when trading.

Mack's Notes:

Rangy day today.  He closed up shop early b/c there wasn't much movement.

Find your channels, find your range highs and lows, stick with your 2nd entries and bounces off of S/R.

Trades:

1.  8:36 - 2nd entry short off of resistance level
2.   10:14 - 2nd entry long at the support area.  Price had broken out of the small trend channel to the upside then went down and created a new low that help signal the down trend was over.  It was also at a support area.
3.  2:00 - 2nd entry short off of support turned resistance level.  Price had broken out of the small down trend channel for the 1st time so was looking for price to go down and test the lows again at least for a scalp.  Price created a higher low and then went straight up.  I originally had the S/R line where I entered but after the bad trade I moved it down.  Looks like another bad trade is the result of not having the proper lines drawn.
4.  2:34 - A failed 2nd entry long developed 5 bars over so I was waiting for price to come back and fill me then go back up to the resistance level.  It did come back and fill me for a scalp but that is all I got.
5.  2:59 - Failed 2nd entry short off of the lower trend channel and the EMA.  Still was looking for price to hit the resistance level.  Got at least a scalp out of it.

Missed Trades:

1.   8:43 - He has it as a buy at the lower trend line but it isn't a 2nd entry and he was also looking for the 2nd leg of the measured move up.  I didn't see that on my charts but I see the area after the fact.
2.  8:59 - 2nd entry long and a failed 2nd entry short.  If I had noticed that this move is the 2nd leg of a 2 legged measured move then I would have taken this trade.  I thought it was the top of a range.
3.  9:15 - I have teh 2nd entry short at this point.  He has it at 9:30
4.  9:53 - Failed 2nd entry long.
5.  10:47 - Failed 2nd entry short at support area
6.  1:15 - Failed 2nd entry long off of the EMA.

10-7-2013

Pre-Trading Notes:

1.  FOCUS ON YOUR TREND LINES!!!!  THIS IS THE MOST IMPORTANT PART!  If you mess this up then you will definitely have a losing day.

Post Trading Notes:

Still having a really hard drawing the correct trend lines.  Cost me 3 losing trades today.  This is the only thing I am going to focus on until I have it mastered.

Dang it!  I used the wrong measured move and it screwed me up big time.  Instead of using the measured move from the trend line to give me the 3rd (lowest) trend line I used the measured move from the range.  Should have used the range one.  Have to remember to use the trend one first.  This would have saved me several losing trades b/c I was looking at price trying to go down to the measured move from the range and not on the trend line!!!!!!!!!!!!!!!!!!!

Still struggling but that is to be expected from the long layoff.  As mentioned in the above paragragh I totally screwed up that part by not using the correct measurements.
Mack's lines are in black.

Mack's Notes:

1.  The longer you do this the thrill of trading will begin to fade and become more boring.  This is good b/c it means you are getting your emotions under control and that you need to take a break to refresh yourself then come back.
2.  There is always a channel and if you look hard enough you will find it.

Trades:

1.  8:58 - Failed 2nd entry short off of the EMA.  I should have waited for the 2 legged pullback and 2nd entry long off of the EMA.  I took both contracts out at a scalp b/c that was near the top of the trend line.
2.  10:01 - Thought it was a 2nd entry long off of the trend line and EMA.
3.  10:16 - 2nd entry long off of the lower trend channel after price had made a 2 legged measured move down to the lower trend line.  I missed the original entry but got in 2 bars later.
4.  11:43 - Thought it was a failed 2nd entry long against the support turned resistance.  Was looking to hit the measured move down.  Obviously it was a short trap.
5.  12:00 - 2nd entry short off of the EMA.
6.  12:11 - 2nd entry short off of the EMA.  Obviously I need to go long here.  2 out of 3 shorts have not worked in this area.
7.  12:15 - Failed 2nd entry short
8.  1:11 - 2nd entry lnog off of the EMA.
9.  1:49 - 2nd entry long from the SL but I think I was looking for it too hard and forcing a trade.

Missed Trades:

1.  8:34 - 2nd entry long
2.  8:41 - 2nd entry long and a failed 2nd entry short
3.  9:05 - 2nd entry short off of the lower trend line
4.  9:20 - Failed 2nd entry short
5.  10:46 - Failed 2nd entry short
6.  11:39 - 2nd entry long off of the lower trend line
7.  12:11 - 2nd entry long off of the lower trend line

10-18-2013

Pre-Trading Notes:

1.  Focus on not counter trend trading.
2.  Keep redrawing trend lines until I get them correct.
3.  Draw the smaller trends within the trends and ranges.
4.  After price breaks out of a trend the opposite way it will go back to the previous high/low and might even create a new one before it goes into a range for at least an hour and then decides to either continue the trend or go the other way.

Post Trading Notes:

Today is a learning day....haha.  I highlighted the overall trend in bold b/c I didn't really see that was the correct trend until 1:30.  I thought we were in a range which totally messed me up.  B/c of that I made some horrendous trades.  Oh well, this is a very good reminder that I am still a long way off from going live.

At 9:35 when price broke out of the trend line then that messed me up and made me think we were in a trend.  I should have kept the trend line from the top and just moved it down b/c that was the correct one.  Price had just over shot it and then went up and made a new high.

Mack's Notes:

1.  An overshoot of a trend channel usually leads to a reversal.
2.  You have to learn how to trade with what the day is giving you.
3.  You have to trade long enough to be able to see everything the market can throw at you.
4.  This is a more normal type of trading day for the market.

Trades:

1.  8:34 - 2nd entry long off of what I thought was the lower trend line.
2.  9:35 - 2nd entry long off of support area and was first major break out of the trend channel.
3.  10:07 - Failed 2nd entry short off of the EMA.  Am looking for price to at least go make a double top if not a new high.
4.  11:08 - 2nd entry short off of the EMA.  Obviously it was a short trap.
5.  11:49 - 2nd entry short.  Not sure what I was thinking here.  Horrible trade.  Guess I was thinking that price would hit that double top and turn down again.  Also thought that since it had broken it's small trend line and created a new high that it would turn down again since it was at a double top.
6.  1:51 - 2nd entry short off of the upper trend line after price had broken out of the smaller trend and made a new high.  Was looking for price to go down to the bottom trend line but it didn't make it there for my 2nd contract before I was stopped out.

Missed Trades:

1.  8:30 - 2nd entry short off of a failed break higher.
2.  8:35 - Failed 2nd entry long.  This is where I went long....haha.  Whoops.
3.  8:41 - Entry off of the lower trend line.  Not a 2nd entry on my chart, a 3rd entry.
4.  8:50 - 2nd entry long off of the EMA.  I saw this but didn't take it.
4.  9:23 - 2nd entry short off of the EMA.  I saw this one as well but did not take it.
5.  11:04 - 2nd entry long on a short time frame chart.  Price was holding on the lower trend line so it was a legit entry.

10-17-2013

Pre-Trading Notes:

1.  Focus on not counter trend trading.
2.  Keep redrawing your trend lines until you get them correct.
3.  Draw the smaller trends within the bigger trends and within the ranges.
4.  After price breaks out of a trend the opposite way it will go back to the previous high/low and might even create a new one before it goes into a range for at least an hour and then decides to either continue the trend or go the other way.
5.  Focus on getting your initial trend lines from the first 2 swings from the overnight session.

Post Trading Notes:

Another day with it being a great trend day!  These are very nice to have.  Not much to say.  Keep on improving.  Read his ebook over the weekend.  Still some foggy confusion at times but the mroe you do these the clearer the setups will become.  Missed the move up at the end of the day even though I got in at the low, got BE stop cut out.  Thought about getting in again b/c I felt price was going to at least reach a double top since it was the 1st major break of the trend line.  It followed the rule b/c it went up wayyy past the double top after it broke the trend channel before continuing up.  I didn't want to look for any trades since it was past 2pm.  The trade I got out of was fine even though it ended up getting a scalp.  Good reasoning both ways.
Seemed to be a very strong trend today b/c of the smaller candles that continued to go up almost all the day.
Mack's lines that I should have drawn are in black.

Mack's Notes:

1.  Don't worry about using the previous day's levels.
2.  TOOLS --->OPTIONS----> DATA (Uncheck "Filter Bad Ticks")  Mack said this will make your charts look like his and I shouldn't have those problems anymore where 2nd entries signal on his charts but not mine which happens every single day.  Hopefully this will cure the problem!
3.  If you are about to take a trade ask yourself, "Which way would you trade if you could move the market?"
4.  The market is always trying to trick you and trap you.
5.  When dojis form at extremes (highs/lows) it generally signals a trend in the other direction.
6.  YOU HAVE TO GET YOUR CHANNEL'S CORRECT
7.  You are better off to miss a good trade than to enter at a bad spot.

Trades:

1.  8:31 - 2nd entry long off of the EMA looking for price to head back up to resistance area.  The 2nd entry long signaled one bar over but I was able to get back in before it hit the scalp on a retrace to the EMA.  (Mack did not like this trade, he said it was too risky)
2.  8:45 - 2nd entry short off of resistance area.  Once 4 overlapping bars and a doji formed I got out for a slight loss.  It looks  like people are building positions here getting ready to go higher.  Price should have hit resistance and gone back down if it was going to go back to the support area already.  (LOL....soon after price breaks through for a short)
3.  9:03 - 2nd entry long off of the EMA.  Still had room for a scalp before price would have hit a double top.  Probably should have locked in 2 points on 2nd contract.  Had the exit w/the 2 legged measured move.
4.  10:01 - 2nd entry long off of the EMA and lower trend line.  1715.75 is a very big cluster area.  Kept moving my 2nd contract up to the top of the range line and had the trailing stop below the swing lows.  This movement the past 2 days has been amazing.  3 months ago I felt like my 2nd contract was getting stopped out almost every time.  The past 2 days I have had some really nice runners.
5.  1:12 - 2nd entry long off of support and cluster area.

Missed Trades:

1.  8:01 - 2nd entry short
2.  8:26 - 2 legged move down to make a double bottom
3.  9:26 - 2nd entry long
4.  11:17 - 2nd entry long off of the EMA.  I got cute here and tried to drop an order in 3-4 ticks lower but obviously did not get filled.