After reviewing my trades today, I felt very pleased with the trades that I made today overall. I didn’t get the PnL that I was going for, but I feel like I made much better decisions today than the past couple.

I’ve been working with ViperSpeedTrader and he’s been helping me work on utilizing trendlines in a better manner than I have been. Its taking some time to get used to the changes. Sometimes it is hard for me to add things to my trading repetoir and integrating the new with the old. I find myself focusing one one avenue or the other and make mistakes switching between the 2 instead of looking at the whole picture together. The past couple of days I have found myself focusing too much of my attention on the new Trendline techniques and less on practically all the other signals that I work with.

Today however, I feel as if the integration is finally starting to happen and it is freeing up much more of my attention span. I only made a couple Bad trades today but they were costly. The mistakes I did find myself making are easily correctable and are discussed below in today’s Review of the Day.

This trade highlights a mistak I found myself making a number of times today, (But unfortunately I only realized it at the end of the day during my nightly trade analysis). The problem I’m making is entering what would be a perfectly legitimate trade without considering the contrary evidence.

As discussed above, this may be due to a lack of extra attention as I integrate what Bill is teaching me. A few times today I entered trades such as these that had valid reasons for entry but were simply too close to another trendline that I either just failed to notice or ignored for some reason. The other mistake I made was entering trades based on the smaller timeframes while the larger ones had some pretty strong reversal cues going on Namely: TRIX reversals, & Large Volume…which are easy to be overlooked when I am myopic in following the 55-tick chart.

I think these are very correctable problems and maybe, just like Tiger Woods, you need to take a couple steps backwards when making adopting a new swing so that you will ultimately be able to perform even better…although I hardly claim to be anywhere close to his ability in trading…