5-31-2013

My Notes:

Well it's been awhile since I have been able to do this due to work and personal stuff.  I know I am going to be extremely rusty so I am basically starting back at the basics which I probably needed to do anyways since I had been confusing myself.  So without further ado here's what I am focusing on:

1.  Only taking shorts on 2nd entry where price has been below the blue and green line.  Price has to also be off one of the EMA's or the trend channel line.
2.  Only taking longs on 2nd entry where price has been above both the blue and green line.  Price has to also be off one of the EMA's or the trend channel line.
3.  Draw all trend lines no matter how off they might be.
4.  Draw all support/resistance lines no matter how off they might be.

The half yellow arrows points which way I am to trade based on where price has closed in relation to the blue and green line.  This should help me only take trades in the direction of the trend.  Points 1 & 2 focus on this.

(Got my ass handed to me.  Was expected since I had been away for almost a month.  Looks like I forgot just about everything I have learned.  Oh well, back to square 1)

Mack's Notes:

You don't counter-trend trade on a strong trend.
Always draw your trend lines.
He still always scalps out and keeps a runner even on big trend days.  He likes to get in and out.
He hates to give any money back, he takes what it gives him.
Once you hit your profit target for the day then quit, do not get greedy and give it all back.
When your first trade of the day is a loser and you get mad then get up and walk away from the computer.  Come back after you have cooled off b/c you will just make more mistakes.

Draw the trend lines b/c it will help you determine which way the market is going and which side you should be on.
Once you learn this stuff it works, you will make amazing money.

My Trades:

1.  2nd entry long off of the 21 EMA.  The 2nd entry signaled a little high but it fit my trading plan to take it off the EMA and what was I thought off of the lower trend channel.  My 2nd exit was 3 ticks below the high of the measured move.

2.  2nd entry long off of the 45 EMA.

3.  2nd entry short off of the 21 EMA and what I thought was the upper trend channel.

4.  2nd entry long off of the 45 EMA.

5.  2nd entry long off of the 45 EMA.

6.  2nd entry short off of the 45 EMA.

7.  2nd entry short off of the 21 EMA.  Had 2nd exit at the lower trend channel.  If I had not had my 2nd stop loss at 1 positive tick I would have hit my 2nd exit at the lower trend channel for a 3+ point gain.


Missed Trades:

Have to do these during the review before I upload the chart b/c I cannot go back and mark them on the chart.