2-20-2013

It's the weekend and I am all caught up so I'm going back and doing days I have not done before.

My Notes:

Found the correct trend line today. I didn't take two trades I should have taken.  I recognized the trades but hesitated taking them due to my lack of experience.  Making baby steps in my progression.  On a day like today you should be positive with a big gain every time so at least I was positive and not negative which is a start.

Mack's Notes:

Your best entries are around the trend channel lines.
Don't be guessing, just go with the flow.
You live for trend days like today.  When you find the trend you have to trust it and take the trades at the channel lines.
Stay with the rules and trade with the trend.
If you watch the price action it will tell you everything you need to know.
Don't let outside things influence you, follow the rules.

My Trades:

1.  2 legged pullback to the lower trend channel.  Even though I was able to scalp out with 2 ticks of profit but I should not have taken this trade.  This was a counter trend trade.  I just wasn't thinking.  I saw the 2 legged move form and I took it.  This is not a trade I am taking right now.

2.  2nd entry short and 2 legged pullback off of upper trend line.  This is the perfect setup I look for every time.  Good recognition and good entry.

Missed Trades:

1.  Failed 2nd entry short off of upper trend line and EMA.  I called this trade and even had the order on to take it but I took the order off before I would have been filled.  These are the types of failed 2nd entries I take when they are off the trend channel lines and the EMA.

2.  2nd entry short and a 2 legged pullback off the top trend channel line.  I have no idea why I didn't take this trade.  This is another perfect setup I take 100% of the time.  NO excuse for not taking this trade.