6-19--2013

Pre Trading Notes:

1.  Draw all small trends.
2.  Look for the bigger trends.  If one line doesn't fit at all then it is not the correct trend line.  Keep drawing the trend lines until you find the right one.
3.  Look for failed 2nd entries.
4.  Look to take the 2nd entries when price has broken out of the small trend channel at least one time previously.
5.  Do not take trades blindly.  Make sure you have the trend line or S/R level in place.
6.  If you are CONFUSED AT ALL or have that "unsure" feeling then DO NOT TAKE THE TRADE!  You are not recognizing if it is a good setup and are guessing.
7.  On a move down (or up) do not count those one tick higher heads/tails as first entries.  I think they are false entries and that is where the majority of my losses are coming from by using these as 1st entries. When you do count 1st entries on a move down or up make sure the entry has gone up at least 2 ticks to be valid.

Post Trading Notes:

At about 10:30 I decided not to take any trades unless the market started moving b/c it was almost becoming a guessing game for me.  There was no clear direction and even in the range there was no direction.

This was FOMC day.  I'm not even going to bother trying to trade these days in the future.  Not enough volume before the announcement and then the market goes crazy after the announcement.

Mack's Notes:

None, vacation.


My Trades:

1.  2nd entry long off of the support level with a very nice signal bar.
2.  2nd entry long.  Price had broken out of the small trend channel and I was looking for it to go back up and at least come close to the previous swing high if not to the overnight high.  I dropped my order in 2 ticks lower than the entry b/c then that gave me a full two point stop loss with 2 ticks below the swing low.


Missed Trades:

1.  @11:26 - 2nd entry long off of the support area.