ES Journal Archive (2006 - 2008)

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Quote from OldTrader:

Excuse?

Last I saw, jagmot was +27 points using his version. A good result I think. Mainly a tribute to how he's managing his money I think rather than the "rule" itself. 5 right out of 12 if I recall.

As I read through the journal today, what struck me is that everyone understands the "rule" differently, which kinda verifies what I was saying....it's discretionary.

That said, let's see how jagmot's version does over a period of time. He's off to a good start.

OldTrader


Actually his money management sucks. Multiple times , 5 if i recall he let winners of 6 to 8 points turn back into 3 point losses. This alone is 15 points worth of losses that would have been avoided by using my money management. I never let this hapen when trading my version. My stop always goes to break even once the trade is more than 3 points in the money. He also always exits winning trades once they hit 10 points of profit even on obvious trend days where using trailing stops would have produced much higher point gains. There were 2 signals friday each good for 10 points each, using his rules that materialized after his 24 hour no trade rule. Why were those trades not posted ? Perhaps he was sick again such as the case was last monday. The simple fact remains that others saw and acted on those signals last friday and made money. Apparently "they" all saw the same thing.
Why do some see and others don't ?
I still don't have the answer.
 
Quote from tommymoose:


The stock is American Apparel - APP. From a fundamental point of view, I think this stock has a very large upside potential over the next year or two. Technically, its wedging down nicely right into multi-wave support I have. They report earnings tomorrow so that could be the catalyst to jump-start this thing. I'm long from 6.03 with stop at 5.22. First target around ~10. B1S2 let me know if this is too off-topic and I'll remove it.

Alright, we have liftoff... feeling safe to move stop here up to a little above 7 bucks. The "trade" target is at $10.15, holding the "investment" part of it indefinitely.

I'm starting to get bearish on the overall indices again though. I know better than to be too early to sell a bear-market rally though so I'm sitting tight for now. Looking for one more high to be made on the NQ next week (somewhere in the range of 1981 - 1996) to give a swing short my first shot. ES may or may not make it there before it falls, but 1317-1325 SPX is looking mighty tough.
 
Quote from volente_00:

The simple fact remains that others saw and acted on those signals last friday and made money.

I created the rule of 10 (r10) journal to provide a framework for people to understand r10. I am very happy that the journal is accomplishing this goal.
 
Quote from Pachoo:

What does off 3 mean?

Did you enter a long at 1282.5, with a stop at 1281.00, and target of 1292.50?

Thanks

off 3m chart's signal, stop near 1281 and hard stop -10, no set target
 
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