11-18-2013

Pre-Trading Notes:

1.  Focus on understand why price is moving.  Analyze and have an expectation.
2.  If you are not sure and have that confused feeling then do not take the trade b/c I am guessing.
3.  Draw the small range areas and watch what happens every time it breaks out of one.
4   Taking 3 trade setups:  1) Price breaks out of a small trend channel and creates a 2nd entry.  2) 2nd entry at the EMA, trend line or S/R areas.  3) Failed 2nd entry when trending one way and still within the small trend channel.

Post Trading Notes:

1.  Probably my charts just messing up again but none of the lines loaded b/c it showed a huge gap from Friday's session till today's.  Probably not correct.
2.  If I had just drawn the extra line on the initial down trend then today would have been so much easier!  B/c of this mistake I cost myself in a couple of trades.  Live and learn and remember this for you next chart.

Mack's Notes:

1.  Draw your small trend channels
2.  You have to use your range rules on a day like today

Trades:

1.  9:46 - 2nd entry short off of upper trend channel.  Obviously it was a failed 2nd entry short.
2.  9:52 - Realizing I was on the wrong side I reversed my trade.
3.  11:17 - Thought it was a failed 2nd entry long and a 2nd entry short off of the EMA.  Price went up and stopped me out on the 2nd leg of the move before returning down.
4.  2:08 - Failed 2nd entry long