2-20-2013

Did a good job of only trading with the trend today.  I was tempted to try some longs like I did earlier in the week but I stuck with my plan to not take counter trend trades so I'm happy about that.  It is too reckless for where I am right now.  I missed one entry that I should have taken at 13:06 b/c I was running the replayer too fast.  Eventually I'll incorporate some of Mack's other trades he recommends taking such as when price was in a downtrend today and price ticked one tick higher off of the EMA or upper trend line compared to the previous bar.  This trapped in longs and was a good entry bar.  It wasn't a 2nd entry like I am taking now and I didn't even recognize it when it was happening so I know I have a lot more review sessions to do.

Trade 1:  2nd entry short off of the EMA.

Trade 2:  2nd entry short off of the trend line and a 2 leg pullback.

Trade 3:  2nd entry pullback.  I'm debating on waiting until price retests the upper trend line when price has broken the EMA even if it a 2nd long.  The reason why is even though it was successful I wonder if after seeing the 2nd entry long if I put a short limit order right on the upper trend line.  I've seen this before where price makes a 2nd entry short but above the EMA and price goes higher to the trend line before turning down.  The 2nd entry short may signal that price will probably go lower but that it isn't going to make it's push down until it reaches the top of the channel.  This is something to look at. (((((((((((((((((If price is in a downtrend channel and makes a 2nd entry short above the EMA, then put a limit order short on the upper trend line for a better entry b/c since price has already broken through the EMA then it will probably reach the upper trend line before turning back down EVEN THOUGH you have a 2nd entry short before the upper trend line))))))))))))))))

Trade 4:  2nd entry short off of the EMA

Missed trades:

1.  2nd entry long with it being a short trap.

2.  This is one of those trades Mack was talking about that is all about reading the price action.  It isn't a 2nd entry short.  Price had been making lower highs along the EMA and trend line.  Then price created a 2nd entry long THAT FAILED! Put your entry one tick below the low of the previous bar b/c look how quickly price turned lower.  If you had taken this trade you would have had a 3+ point runner.  LOOK FOR FAILED 2ND ENTRIES GOING THE OPPOSITE DIRECTION OFF OF SUPPORT/RESISTANCE!  Add the failed 2nd entry against the trend to my trades to take.

3.  2nd entry short off of the trend line where price slightly overshot it.  There is no reason why I should not have gotten in this trade.  This is a 2nd entry trade I take.  I was running the replayer too fast.