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Ok our short is in. Also remember our rule about 2 failures in a row. This protects from trend days. So if this trade fails, we are done for 24 hours (ie we won't start trading again til 1:35PM EST monday) 1292.75 Stop 1295.75 Target 1282.75

Quick update We currently have a new reaction low at 1282.75 so we would place a sell order at 1292.75 with a stop of 1295.75. On the buy side the buy is currently in place at 1279.75 with a stop at 1276.75.

Since we were stopped out on the last trade, there is not yet a reaction low to place a new sell (at least yet) Right now we would be trailing with a buy from a reaction high (trailer currently at 1276.5) but could continue moving higher from here.

That is the purpose of this journal. Let's prove it right or wrong by trading (paper) instead of using everyone's assumptions/suspicions/hunches (or whatever you want to call it).

Stopped out -3.25 2 for 5 +13.50 total

Setting up for the next trade, the last reaction high was 1273 (approx 7:25EST) We would place a new buy at 1263 with a stop at 1260. Note this trade would not have been executed yet, as we were still in the previous trade. (you could argue otherwise since we exited the trade around that...

Buy stop up there was 1259.25 not 1265.25 (my error) Overnight while sleeping our sell was hit at 1273.50 and then covered at 1263.50. 2 for 4 +16.75 points

I also know of someone who traded a similar strategy since the early 80s. Buying and selling resistance at 100pt intervals (ie buying at 12101 and selling 12199, etc) on the dow. That is why I am interested in round physchological numbers and trading strategies behind it. If we were to...

We are currently flat with the r10 and just had our first success. Remember that one of the rules implemented is 2 stop outs in a row and we stop trading for 24 hours. This is to guard against multiple stop outs on a trend day. At the current chart and time frame, we have a reaction high...

Yes I ignore the price action while once in the trade. Once I place the trade, the target is either hit or I get stopped out. I don't expect the ES to turn on my tick but think 3 pts is enough room along with a good rr of at least 3:1. To answer the next question, I will post shortly on...

Unfortunately I was away from the computer when the target was met. However, you would still take the trade. Part of why I made the rules so simple is that I could easily automate this trade if I was trading it real money. Trade closed out at target 1271.25 1 for 2 +6.75points total...

I agree. I think it was a good trade, but not in the context of r10.

Hope I cleared that up in the r10 journal.

Risky, In no way was I trying to semi-flame you. I reread your previous post and again it does not say why you are posting while you speculate on others. It was just a simple question and then I posted my reason. Edit: You do however say it in this post. It is funny however that you...

I am by no means an expert but am happy to answer all questions. If I miss anything and you feel like it was not answered in another post feel free to post it again or send me a pm. Thanks, Jag Need to get back to trading wheat! (for a bit) We are still in the short at this time.

Correct although I had the swing low at 1271.25 not 75.

Tortoise, by all means I would be happy if someone else were to setup a different r10 system and keep score with me the same way. Please keep a running tab at the end of your posts. 0 for 1 1 for 2 etc +3 points

Thank you Pek for contributing. I am not misunderstanding the r10 rule. I am of the belief that you need a minimum of 3 to 1 rr in order to be profitable over the long term (if you do not employ any money management), that is where I got the 10 point target. Since I am using 3pt stop and...

Never traded it with real money and did some work last summer to see if it would help another system better. Only papertrading it now.

We were still in the first trade (and get stopped out right around this time). Hence no trade here for me.