ES Journal Archive (2006 - 2008)

[MandelbrotSet]

Quote from volente_00:

b1 is right though, the rule is useless by itself.

It is the proper trade management and scaling after entry that allows it to become a profitable strategy.

Rule of 10 entry marked yesterday's (Monday's) bottom.

After the market traded through the previous day's highs (last Friday's) all of the indice and internals turned extremely bullish and the market rode to new highs.

Saying the Rule of 10 is crap is what's crap. I sat here and watched people take short after short and have their ass handed to them, basing their entry on god only knows what. At least the Rule of 10 gives you a disciplined tool to work with, and you can build from there.

 

[iloveoptions]

Quote from volente_00:

b1 is right though, the rule is useless by itself.

It is the proper trade management and scaling after entry that allows it to become a profitable strategy.

Today, your rule may work because the market is non linear that day, and tomorrow his rule may work because the market is linear for that day, but whose to say the rule of 9.25 won't do better than the rule of 12.75 . At the end, the market always rules both of your rules 'cause no one has the perfect rule, so accept it and live with it.

 

[Buy1Sell2]

Quote from iloveoptions:

'cause no one has the perfect rule

Actually, there is a perfect rule. Never risk more than 2 percent of TLNW on any one trade/idea. That works on any day even if it doesn't produce a profit that day!

 

[limit]

Quote from MandelbrotSet:

Rule of 10 entry marked yesterday's (Monday's) bottom.

After the market traded through the previous day's highs (last Friday's) all of the indice and internals turned extremely bullish and the market rode to new highs.

Says the Rule of 10 is crap is what's crap. I sat here and watched people take short after short and have their ass handed to them, basing their entry on god only knows what. At least the Rule of 10 gives you a disciplined tool to work with, and you can build from there.

Funny, no one poste any entries on this yesterday. You can get instant credibility, all it needs is for someone to post entries, stops and exits in here realtime. I suggested this 2 weeks ago and got flamed for it. If it works, great. If not, move on.

 

[MandelbrotSet]

Quote from limit:

Funny, no one poste any entries on this yesterday. You can get instant credibility, all it needs is for someone to post entries, stops and exits in here realtime. I suggested this 2 weeks ago and got flamed for it. If it works, great. If not, move on.

My bad, I mean't the 10:30am reversal, which I did post, btw.

So can vol_00 get instant credibility for that?

LOL this thread.

 

[Pekelo]

Quote from limit:

Funny, no one poste any entries on this yesterday. You can get instant credibility, all it needs is for someone to post entries, stops and exits in here realtime.

I did it a couple of days ago, posted 5 entries/exits of 3 trades. Tally was 2,0,4 or something like it, all shorts on a rally day...

But you are right, posted entries/exits are the best arguments for convincing someone.

Quote from Pekelo on 5/6:

The 3rd rule of 10 short signal was at 1422. Right now it is 1418 a nice gain. So the 3 signals gave today:

1. 2.5 pts
2. breakeven (went into money by 2+ pts, SL moved to BE)
3. 4 points

 

[iloveoptions]

Quote from Buy1Sell2:

Actually, there is a perfect rule. Never risk more than 2 percent of TLNW on any one trade/idea. That works on any day even if it doesn't produce a profit that day!

That's just one rule of many that puts you on the path of the perfect rule. You can have many 2%ers that don't work. It doesn't make it perfect, but it's a good start

 

[MandelbrotSet]

Quote from iloveoptions:

Today, your rule may work because the market is non linear that day, and tomorrow his rule may work because the market is linear for that day, but whose to say the rule of 9.25 won't do better than the rule of 12.75 . At the end, the market always rules both of your rules 'cause no one has the perfect rule, so accept it and live with it.

There are perfect rules.

B1S2 mentioned one of them, and there are others, just because you don't know them, doesn't mean they don't exist. :eek:

 

[Buy1Sell2]

What I have been doing and I would hope everyone else will follow as well, is posting the actual real time entry and an actual real time stop at time of entry. --I no longer post an entry without a stop as I used to. I then post the trailing stop in real time. I don't feel that a target needs to be posted in advance unless of course you have one in mind. Rather, a posting in real time of the exit will suffice. I realize that there will still be some fake posting as there always has been, but I believe this is a much better journal system.

 

[MandelbrotSet]

Quote from Buy1Sell2:

What I have been doing and I would hope everyone else will follow as well, is posting the actual real time entry and an actual real time stop. I no longer post an entry without a stop as I used to. I then post the trailing stop in real time. I don't feel that a target needs to be posted in advance unless of course you have one in mind. Rather, a posting in real time of the exit will suffice. I realize that there will still be some fake posting as there always has been, but I believe this is a much better journal system.

Um ... to what purpose?

If it's to validate an entry/exit technique, I belive there is sufficient volume of postings to validate volente_00's methodology as being a winning system.

If it's to show one's trading prowess ... you're gonna win some, you're gonna lose some. A poster would have to make at least 100 calls to determine their real stats and see if they have a valid system, and that's not even counting multiple-markets as well as changing one's position sizing depending on what criteria the market is showing you.
***
Point-in-fact, what really is the purpose of the Journal when, at this point in time, you had so many people shorting yesterday's runaway uptrend?

P.S. Come on T-Day Magic!