10-28-2013

Pre-Trade Notes:

1.  If you find a good trend line then just use the measured move to extend it up or down.  It seems to work a high majority of the time!
2.  Keep drawing all of the support/resistance areas.
3.  Added the Previous Days High and Previous Day Low to my charts.

Post Trading Notes:

1.  If price goes through one of the measured lines w/o even acknowledging it then should I not worry about it when price comes close to it again?  It seems that is the case.
2.  Finally found the big green line channel at the very end of the day.
3.  It seems the measured line trend lines seem to work pretty well.  Got a lot of good bounces at 2nd entries off of them.  Going to keep using these.
4.  Today was a range day but you can see how price still bounced off of the measure move trend channels.
5.  The 2nd trade I could have ridden all the way to the high of the day.  Live and learn.
6.  He has a "Premium Room" on his website now.  I'm not sure what to think about this. It is a cheap price but still an interesting turn this has taken.  Who am I kidding, if people would pay to read what I write then I would do the same thing.
7.  All of my trades were trades he took.  Very encouraging.
8.  You need to have room to at least get a scalp when you get a 2nd entry signal.

Mack's Notes:

1.  Range day today.  Not a lot of trades today.
2.  If price tries to do something 2X but fails each time then it is usually going to go in the opposite direction.
3.  You can tell how good a trap was by how fast price moves.

Trades:

1.  8:43 - Failed 2nd entry short off of resistance and a 2nd entry long.  I used the Jigsaw to get in early but I am unsure if I did it correctly.  I saw that the large orders (orders over 100 lot) were stacked in favor of the bulls around this level.  The buy orders outnumbered the sell orders on almost every level from where I entered to 6 ticks higher.  Since this was setting up to be a 2nd entry long and a failed 2nd entry short I entered early based on Jigsaw.  Still not sure if that is sound reasoning in my interpretation of tape reading.  I got out when the sell orders triumphed the buy orders at a couple of levels and I also had a two legged measured move.

2.  10:03 - 2nd entry long off of support area and the measured trend line down I did 2X.  It fit very nicely with the support area.  When the failed 2nd entry short signaled then price took off after touching the lower trend channel and the support area.  Also a bunch of trades of over 100 came in around the 1753 area.  Got out when two blocks totaling over 900 contracts entered.  Not sure if that is a correct exit b/c I wanted it 3-4 ticks higher at the next trend line.  (Obviously that wasn't a good move b/c price went up 6+ more points...lol)

3.  1:42 - 2nd entry long.  Should have waited for price to retrace to the EMA and then taken the trade.  Still was able to scalp out.

Missed Trades:

1.  9:02 - 2nd entry long and a failed 2nd entry short off of the lower trend line.  I saw this trade but hesitated and did not take it.  I should have taken it b/c it was a great setup but for some reason I didn't trust the trend line even though it had proven to be good.
2.  9:23 - 2nd entry short counting from the previous swing low, an overshoot of the trend line and testing a previous resistance area.  It was also far away from the EMA.
3.  2:40 - 2nd entry short off the EMA
4.  2:50 - 2nd entry long off of the main trend line and a 2 legged move down.  This trade was too late to take in the day and I didn't see the main trend line here until the swing low formed.