6-3-2013

Pre-trading Notes:

Focusing on tonight:

1.  Drawing trend lines anytime there are two higher highs or two higher lows. 
2.  Drawing S/R lines when there is a double top or bottom or when you can tell that price is in a range.
3.  Only taking 2nd entries.

(I took off the green line 45 EMA so as to get back to the roots of Mack's PAT style)


Post-trading Notes:

After tonight's session I officially suck again.  I can never take off that much time again.  I seriously should just take the opposite of every trade I am going to take b/c then I would be killing it...lol.  I quit at noon.  Any other trade was out of frustration and messing around.

One positive is I drew the brown trend line correctly.  I have to pay better attention.
I need to look at the big picture more.  Make my chart bars smaller.
Look for the big 2 legged measured moves.  There will be moves within a big 2 legged measured move.

Mack's trend lines are in black.

Mack's Notes:

Even Mack struggled today.  He missed a lot of trades and was uncomfortable.

Don't trade and chase the market if you are feeling uncomfortable and unsure about what you are seeing.
If you miss a trade do not chase the market.  Just let it go and look for the next trade.


My Trades:

1.  2nd entry long.  Thought price was going to make a 2 legged measured move to the brown trend lines.  Obviously that was horribly wrong.

2.  2nd entry short.  Actually it was a 3rd entry short and I got in a tick worse than the entry signal.  I had it coming off the EMA and the upper trend line.  Had the 2nd contract down at the lower trend channel.  Not sure if that was the correct line up for the lower trend channel.  (I definitely had the channel too low, I had it going off the lower swing low.  It should have been where it is now)

3.  2nd entry long off of the EMA and lower trend line if that is a correct drawing of one.

4.  Failed 2nd entry long.  My trade #3 failed so I took a short after it stopped me out for a scalp.

5.  Failed 2nd entry short.  Or so I thought.   I knew I shouldn't have taken it once price was bouncing off the EMA.

Missed Trades:

1.  Failed 2nd entry long.
2.  Failed 2nd entry long.
3.  A quasi 2nd entry long off of the EMA on my chart.  Mack had it as a 2nd entry long on his charts.  It is also the 2nd leg of a 2 legged measured move.
4.  2nd entry short or a failed 2nd entry long.
5.  2nd entry long off of the lower trend channel.