6-10-2013

Pre Trading Notes:

1.  Focus on watching for failed entries when you are unsure of what to do b/c those are an added confirmation to a signal.
2.  Draw all of the damn small trend lines.

Post Trading Notes:

Good job recognizing that today was a trend day when the 2nd leg of the measured move got stopped near the highs of the day.
Missed a couple of trades b/c I was unsure but I still recognized them.
Good job drawing the small trend lines.
Good job not taking trades when I was unsure.  There was one point I canceled an order b/c I was unsure and it was not at the extremes.  Might have gotten a tick better with discipline in following my trade rules.

Mack's lines are in black.

Mack's Notes:

Coons ate his boat.
Nest chart lesson will be either the 24/25th.  Going on vacation until then.
The black arrows show how he got the 3rd very bottom trend line.  He measures between the top 2  and then drags it down and copies the arrow to get the measured move.  Then he copies the trend line and puts it at the bottom of the arrow.  This works on any time frame and any level.

You have to draw the short term trend lines.
A lot of the times when you have a gap then that will be a significant support or resistance area.
Draw the trading range trend lines.

My Trades:

1.  2nd entry short toff of upper trend channel.  Guess I got in a tad too early even though it was a 2nd entry b/c it was at the right area but price ticked up and took out my stop before it went down to get the scalp.  Even had a measured move and everything.  Good setup.  Guess it just went against me enough to take my stop out.

2.  2nd entry short off of EMA.  Might have been to close to the lower trend line but it still worked out.

3.  2nd entry long.  Took the 2nd contract out at the EMA.

4.  2nd entry short off of the EMA from the low.  Looking for the 2nd leg to the measured move down.  Just got the scalp.

5.  2nd entry short off of the EMA.  Looking for the 2nd leg to the measured move down.  Got my 2nd stop taken out  at +1.25.

6.  Failed 2nd entry long.  There was a 2nd entry short a point above it but I was unsure about taking it since it was off the EMA

7.  2nd entry short off of the EMA.  Thought I had gotten in one tick bad so I moved my 1st contract up a tick.  It actually wasn't a 2nd entry where I got in.  It was actually 4 bars to the right. Had my 2nd exit where I had the support area drawn.

Missed trades:

1.  @8:12 - 2nd entry long and failed 2nd entry short off of the EMA.  Beautiful setup.
2.  @9:16 - 2nd entry long.  There was a lot of overlap so Mack didn't even take this trade.
3.  @9:29 - Failed 2nd entry short.
4.  @10:00 - 2nd entry and 2 legged pullback to the EMA.
5.  @10:45 - 2nd entry long.
6.  @11:29 - 2nd entry short.  I was looking for the failed 2nd entry long.  The failed 2nd entry long showed up on Mack's charts but not mine.
7.  @1:11 - 2nd entry short.  Mack had a failed 2nd entry on his charts.
8.  @2:15 - 2nd entry short