11-6-2013

Pre-Trade Notes:

1.  Each trading day is different than the last.  I can't make one style of price action fit each and every day.  Let the day develop and go from there.
2.  Work on analyzing why you are taking a trade.  Think through why I expect a trade to move in a certain direction.  Do not just blindly look for 2nd entries.  Think through it.  I will get much better much faster doing this.
3.  UNDERSTAND AND ANALYZE WHY I AM TAKING THE TRADES, Do not mindlessly look for 2nd entries.  It is okay to have losing trades, this is how you learn where your view of price action is incorrect.  You will have more losers in the beginning but I will develop the necessary skills.  Do not give up b/c this will be hard on my ego.

Post Trading Notes:

1.  Good job analyzing and trying to understand price action.  Today I was perfect but just know that during this re-started phase that you will have losing days b/c now I am trying to understand price action and what to look for.

Mack's Notes:

1.  If you know the rules to price action then nothing should surprise you.

Trades:

1.  9:15 - Break of the short term trend channel and a failed attempt to go higher.  Failed 2nd entry long.
2.  11:16 - 2nd entry long off of the bottom of the trend channel.  A failed 2nd entry short developed 2 bars over.
3.  12:13 - 2nd entry long off of the lower trend channel line and the EMA.
4.  2:10 - Failed 2nd entry short off of the EMA.