4-24-2014

Pre Trading Notes:

1.   DRAW YOUR TREND LINES SO THAT PRICE TOUCHES OFF OF BOTH SIDES.  If price is not touching on one side then you do not have it drawn correctly.  Draw it off of the first couple of bars in the move.
2.  Count off both the highs and lows for your 2nd entries.
3.  In a range day all you can do is buy the lows and sell the highs.
4.  When price breaks out of the trend channel to the downside (in an uptrend) and then goes on to make a new high then that can signal the move is over.  Especially if there is a 2 legged move up to a new high.

Post Trading Notes:

1.  Good job drawing the trend channels and referring to my notes about the trend channel break rules

Mack' Notes:

1.  Anybody can do this but it takes a lot of time to learn.  It is not easy but it is not hard.
2.  You can switch to a line chart to help draw your trend lines w/the first 2 swings
3.  You are looking for 2nd entry shorts in a downtrend counting off the lows
4.  You are looking for 2nd entry longs in an uptrend counting off the highs

Trades:

1.  8:57 - Thought it was a 2nd entry short at the EMA
2.  9:47 - 2nd entry short that signaled 3 bars previously
3.  11:24 - 2nd entry long off of the lower trend channel
4.  2:47 - 2nd entry long off of the lower trend channel that signaled 2 bars previously

Missed Trades:

1.  7:18 - 2nd entry long
2.  7:58 - 2nd entry short
3.  8:28 - 2nd entry short counting off the high
4.  8:33 - Failed 2nd entry long counting off the high
5.  9:03 - Failed 2nd entry long
6.  9:58 - 2nd entry long
7.  10:04 - 2nd entry long
8.  10:13 - Failed 2nd entry short