10-16-2013

Pre-Trading Notes:

1.  Focus on NOT COUNTER TREND TRADING!!!!!!!!!!  Quit trying to find the bottoms and tops.
2.  Look for 2 legged moves to the trend line and look to get in them at a cluster area even if it is not a 2nd entry.  It is a valid trade if it is a 2 legged move back to the trend line even if it is not a 2nd entry.

Post-Trading Notes:

I am not going to include the Jigsaw snapshots of the whole picture.  Just the area where I entered. It is taking up too much room on the reviews.
Add the SH, SL, HH, HL indicator.

Really good day of trading.  The Jigsaw saved me on a trade at 10:25.  I normally would have taken this trade but I saw it was a low cluster area so I didn't take it.  Not sure if it is still a good reason but it seems to be working so far.  Below is the snapshot:

Near the end of the day I felt like I was guessing to I didn't take any trades.  I would have had a scalp at 1:56 from reading the Jigsaw and the weakness of cluster areas but it wasn't a Mack trade so I didn't take it.

I have got to figure out why most of the overnight session is not downloading b/c it is screwing my charts up when trying to find the trend lines!!!!!!!!!!!!!!!!!!!

Mack's Notes:

1.  Read his study guide over and over and over again.  There is too much info in there to pick it all up in only a couple of read through.  Use it like a study guide, not like a book you read and set aside.  Go through it as many times as you can, you will get at least one little nugget each time.  Even when you start understanding his system keep on reading it.
2.  Your trend usually starts with the 1st 2 swings from the overnight session.
3.  The idea is to always find the channel or range.  Don't worry about how you get there, make sure it is holding prices in that channel.

Trades:

1.  8:43 - 2nd entry long off of the EMA.  Not sure if that was the bottom of the trend line.  Was having a hard time finding it.  There were 2 dojis before the entry so I probably should have held off on taking this trade.

2.  9:43 - 2nd entry long off of the bottom trend line.  Great signal bar this time off the lower trend line.  Last time price hit the line it rocketed off and it did the same this time.  Picture perfect Mack PAT trade right here.  The only problem I had was when to take my profits on the 2nd contract!

3.  11:06 - Failed 2nd entry short off of the EMA and am looking for price to make a new high before going into a range since this is the first major break of the uptrend channel to the downside.  Had the 2nd entry at the end of the 2 legged measured move which also made it a double top from the previous high.

4.  1711.25 - 2nd entry long off of the support area.  I figured I had at least a scalp from the entry before I hit a major cluster area and fortunately I was correct.

Missed Trades:

1.  7:20 - Breakout from the support.
2.  8:33 - 2nd entry long off of the EMA.  It didn't show as a 2nd entry on my chart.
3.  9:15- Failed 2nd entry short.  My chart did not show this but his did.
4.  10:02 - Failed 2nd entry short
5.  12:22 - 2nd entry long off of support area.  I saw this but just missed getting in on it b/c I was being too greedy and had my entry almost a point lower.