Although some put the temp probe in the trans pan, the place that gives the best information about how the trans is doing at any moment is in the pressure side cooling line that comes out of the front driver's side of the trans. Putting the probe in the cooler line will tell you when the temps first start to rise... instead of waiting for the hot fluid to heat all the oil in the pan. You could FRY the trans before heating all the oil in the pan!
Some buy a special trans line to replace the factory line. It has a fitting in it to mount the probe. I don't know the part number, but I remember it seems pretty expensive to me. I spliced a 1/2 inch plumbing tee into the line using compression fittings. You can mount it either in a 90 degree bend like I did or in a straight part of the line. Use a reducer bushing to mount the probe. The big tee does not restrict flow and allows the fluid to circulate around the probe to give accurate information.
Hope this helps.
Steve Keim