ES Journal Archive (2006 - 2008)

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Quote from Leonidas:

What is the rule of 10 exactly, and how are you guys applying it?
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uhhhhhhhhhhhhhghhh



I use them for turning points to get short, long or flat.

at the open yesterday from 1410 to 1420, at the close yesterday there was one around 1422 from 1412, last night 1422.5 to 1412, today 97 - 87 then 87-97. Do a search if you want more info under my name.
 
Quote from volente_00:

uhhhhhhhhhhhhhghhh



I use them for turning points to get short, long or flat.

at the open yesterday from 1410 to 1420, at the close yesterday there was one around 1422 from 1412, last night 1422.5 to 1412, today 97 - 87 then 87-97. Do a search if you want more info under my name.
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thank you volente .. i was 1 of the curious as well.
:)
 
Quote from BigBubba:

thank you volente .. i was 1 of the curious as well.
:)
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You also have to understand it is just one of many trading tools and is not set in stone. On range expansion days you have to use the multiples. On the rare trend only days it will not work well at all and that is where discipline and risk management come into play. That being said, I'll be looking for a long around 1467 between tonight and tomorrow . i look for tomorrow to be a washout day, as they mostly are bottoms or tops for the week on option expiration week, and either short covering into friday or ben steps in and burns every short agains like in august. There was huge put action on 137 spy today. If that ends up as new open interest come tomorrow, I will even be more bullish.
 
2hr file is being uploaded...

1) always staying on the right side of the market..

2) progressive sentiment crystallization

3) intraday pyramiding...

4) inherent risk management

5) deviation from the above...leads to immense risk..
 
Quote from Buy1Sell2:

Tonight, we breached the monthly continuation low that occurred 08/16/07. I believe, I will stay short. We should now be in for an extended downturn. If wrong, I will limit losses as usual. :)
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Your short from 1417 and if and when we reach 1317 you will have made a 2% return. Is that what you consider a home run?

DMartin
 
Quote from Buy1Sell2:

Tonight, we breached the monthly continuation low that occurred 08/16/07. I believe, I will stay short. We should now be in for an extended downturn. If wrong, I will limit losses as usual. :)
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I trust that your stop has been moved closer.

At least according to my experience, when a key low has been breached, it will become apparent quickly if the move is going to continue going down or is going to reverse sharply. A close above today's high in the next two days, for instance, would strongly suggest a reversal, whereas anything weaker would suggest continuation.
 
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