4-22-2014

Pre Trading Notes:

1.  Back in the saddle again.  Use limit orders to enter with no more than a 1.5 pt stop loss. Take all profits at 1 point.
2.  Draw all trend lines and channels
3.  Have a good time and learn.

Post Trading Notes:

1.  Took a break for a bit but it is good to be back doing these again.  This time I am going to start out even slower b/c I think by the end of my last post on here I had really started confusing myself w/a bunch of extra stuff in trying to find the perfect trade.
2.  After re-reading Mack's book I am going to focus on sim-trading w/one contract and go for a full point.  Hit the singles and not try for the home runs.  He said if you can make 1 point in the 240 trading days then you will have made $24,000.00 for the year (before commissions, taxes, etc).  That is a good goal to start with to focus on the singles and going slowly.  I started going too fast last time.
3.  Only took one trade b/c it was the only clear one I saw.  Today I was counting off the lows for my 2nd entry longs and off the highs for my 2nd entry shorts.
4.  Only take 2nd entries.

Mack's Notes:

1.  When small bars keep going higher then that is a strong trend up.
2.  The signal bar is the high or low of the swing.
3.  You only want to enter long on the pullbacks
4.  Be patient and wait for the right setups (pullbacks when looking for a long)

Trades:

1.  12:25 - 2nd entry long and also a 2nd entry short trap

Missed Trades:

1.  7:54 - 2nd entry long counting off the high
2.  8:46 - 2nd entry long counting off the high
3.  10:00 - 2nd entry long counting off the low
4.  1:51 - 2nd entry short counting off the high