6-14-2013

Pre Trading Notes

1.  Look to take the 2nd entries when price has broken out of the small trend channel at least one time previously.
2.  Look for failed 2nd entries.
3.  KEEP DRAWING THE TREND LINES UNTIL YOU GET THE CORRECT LINES!  If one set of lines is not matching up at all then you do not have the correct trend draw.
4. Do not take trades blindly.  Make sure you have a trend channel or S/R lines in place.
5.  Be patient and DO NOT force trades.  Let them be clear to you.  If you are confused then do not trade.  It is better to miss trades you are unsure of even if they work out.  You have to be certain that this is a good setup that you take.

Post Trading Notes

Today was super slow.  Must be b/c of the contract change and b/c it is a Friday.
Good job being patient.  Today was super slow and there were some crap setups early which you held off taking b/c I was confused and was just trying to force a trade.

There were a couple of good trades to take today.  Have to get better at recognizing the major trend lines b/c that would have gotten me in a good trade.  Have to trust the trend lines.
Remember to be patient.  Do not force anything.

IF YOU ARE UNSURE AT ALL THEN DO NOT TRADE!
Remember to trade at the trend lines and at the EMA.  If the trend lines are not in place then do not trade.

Mack's Notes:

None, he is on vacation.


My Trades:

1.  2nd entry short off of the upper trend line.  Had the 2nd contract down at the bottom of the trend channel but got my trailing stop taken out b/c I didn't want to give back everything if it didn't go down there and hit which it did not.

Missed Trades:

1.  @9:38 - Failed 2nd entry long off of the EMA.
2.  @11:57 - 2nd entry short off of the upper trend line.  I did not have the trend line in place yet so I didn't see the trade.  Price was just slowly grinding up.  In retrospect I should have drawn the bottom line and dragged it up to the top then I would have seen this trade.
3.  @1:06 - 2nd entry long.  Price had broken out of the small trend line and made a new low.  It also looked like a fake out break out but I was unsure about the trade.
4.  @2:35 - 2nd entry short off of the EMA.  I was done looking for trades and would never take this trade since it is too close to closing time.  Especially on a Friday.