I've been watching "Penny Stocking Framework Part Deux" over and over and over again in addition I have been watching Syke's Video Lessons-Price Action: Buying Dips and Panics and I also have to fit in STT Pro sessions Pre/Post Markets with Tim Bohen and go to work and take care of family responsibilities.

I currently survive off of 3 to 4 hours of sleep and yet I don't feel tired as a matter of fact if I didn't have to sleep I would choose not to and just do more studying.  I even have videos playing when I lay down.

I told myself that when Framework Part Deux came out I would not trade until I was getting what Sykes was teaching and as he states, Don't mimic the patterns understand the underlying nature of the chart pattern and what is going on in the background.  That might sound confusing because its an abstract process and there is nothing tangible when studying chart patterns.

I run my STT custom scan after market, I take the hot picks and put them in a portfolio in Finviz and then I open the portfolio in a chart screener, so that all I get is a montage of charts.  I quickly scan all the charts eliminating the really ugly ones, the ones that I don't see any potential currently available.  I then take the remaining charts and put them in a watch list in STT and then I scrutinize each chart multiple times, placing what I see as support/resistance and areas that have bounced in the past.

I will place on the charts what I envision in my head might play out during the next trading day.  I place my levels and will tweak them several times before the next days opening. My charts are covered with notes and then I print them out and save them in a folder on my computer.

I just couldn't help myself and I just had to try out what I have learned so far, I took two trades this week that worked out just like I had planned, my entry was great, price moved liked I anticipated just not as much as I had hoped for, but both trades did make me a small profit each.

Today $CASI was on my list, I saw a support level at 6.00 way back in 2010, that level was touched twice that year so that was my entry point my exit level was placed at 6.58 which was a level I saw back in 2010 also.  Bang right out of the gate this morning my entry price was hit just after 10AM EST and my exit price was hit just before 11AM EST.  Now for the painful part, I didn't take a trade I just placed my levels on the chart and watched the price action do its magic.  $CASI ramped up above 7.00 today.

Although I did not take a live trade on $CASI the euphoria I felt watching my setup play out was beyond words, good thing there wasn't anybody around to witness me berating myself for not having the confidence in myself to take a live trade. Oh well moving on.

I will have to admit I will still only practice for the rest of this week and probably next week before I start to live trade my setups. Though a couple of my setups have worked out I am still not overly confident that I actually know what I am doing and I haven't just had a bit of good luck.  As the saying goes, The Amount Of Luck One Has Is Directly Related To The Amount Of Effort One Puts Out.  STUDY, STUDY, STUDY.

Before One Can Become The Master One Must Be The Student First