10-7-2013 Review Session

Pre-Trading Notes:

1.  Draw all trend lines and support/resistance areas.
2.  Look for fake breakouts of support/resistance areas.

Post Trading Notes:

1.  Good job on the trend line drawing.  Felt I did well in identifying the correct trend lines and ranges.
2.  Bad job in getting caught up in congestion while in a range.
3.  Once you have a good trend line and price breaks out of it then draw the measured trend line over b/c more often than not it fits.  That is exactly what happened on the upside and downside today.

Mack's Notes:

1.  Don't trade every day.  Take some time off every now and then.
2.  As you trade longer the thrill begins to fade and it becomes boring.  It is good b/c you will be getting better with your emotions but also it means you will need to take a brake and recharge your batteries.
3.  When you get your trend lines correct then they will fit very well on both sides.  When you learn to get them to fit properly then your success will increase.
4.  You confirm your trend lines by getting multiple touches on them.
5.  There is always a channel and if you look hard enough you will find it.

Trades:

1.  8:34 - 2nd entry long off of support area.
2.  10:16 - 2nd entry short off of upper trend line.
3.  10:43 - 2nd entry long at upper trend line and resistance area
4.  10:55 - Double top at resistance and fake breakout of trend line.
5.  11:39 - 2nd entry long off of the lower trend line and the end of a 2 legged measured move down.
6.  12:39 - Missed the orginal 2nd entry long at 12:11 b/c the entry was too far away for my stop loss but price came back and filled my entry.  Should have gotten out where the resistance and middle trend line of the pitch fork intersected but got greedy.  Gave up about 1.5 points but still a good trade.
7.  1:21 - 2nd entry long off of the EMA.
8.  1:58 2nd entry long off of the EMA.  Should not have taken it b/c was in a ton of congestion.

Missed Trades:

1.  8:41 - 2nd entry long off of the lower trend line and a failed 2nd entry.  I missed getting in b/c the original entry was too much for my stop loss.  I was tardy in dropping my limit order in and it took off on me.
2.  9:05 - 2nd entry long off of the EMA and the resistance turned support area.  Saw this trade but didn't take it b/c I just didn't trust my lines for some reason.  Lack of confidence and also thinking that price was going back to the lower trend line.  All bad reasons.
3.  9:20 - Failed 2nd entry short
4.  10:46 - Failed 2nd entry short.  This trapped me on the wrong side.
5.  12:11 - 2nd entry long off of the lower trend line.  I missed it b/c the entry was too far for my stop loss.
6.