ES Journal Archive (2006 - 2008)

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Those of you who have been here long enough are familiar with my work. For you newcomers you can always search the files.

The following file was posted at 1:18 PM today on page 5079 of this journal.

I do this everyday prior to the open and base my trading upon it.

Just,
My2cents
 

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Quote from my2cents:

11-14-06 10:44 AM Page 843 ES Journal

The day is done.

Why I say the day is done is because the mkt. moves approx. 10 pts on any given day. That 10 points was realized in the first hour.



How do you explain the 30, 40, 50 point moves when the above quote says 10 point max range ?



:D
 
Quote from Volante_00

How do you explain the 30, 40, 50 point moves when the above quote says 10 point max range
More...


Where did I say max range? Don't put words in my mouth.

30, 40, 50 point moves? Take a look at last Wed or Jan 31 on a five minute basis. How many points does the market move before it takes a rest and consolidates only to take off again?

Multiple programs.

Just
My2cents
 
Quote from my2cents:

Where did I say max range? Don't put words in my mouth.

30, 40, 50 point moves? Take a look at last Wed or Jan 31 on a five minute basis. How many points does the market move before it takes a rest and consolidates only to take off again?

Multiple programs.

Just
My2cents
More...


The words are from the post you quoted.
You said the day is DONE after the market moves approx 10 points on any given day ?

what does day is done mean ?

Maybe I misunderstand your wording.







Quote from my2cents:

11-14-06 10:44 AM Page 843 ES Journal

The day is done.

Why I say the day is done is because the mkt. moves approx. 10 pts on any given day. That 10 points was realized in the first hour.
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Quote from volente_00:

The words are from the post you quoted.
You said the day is DONE after the market moves approx 10 points on any given day ?

what does day is done mean ?

Maybe I misunderstand your wording.







Quote from my2cents:

11-14-06 10:44 AM Page 843 ES Journal

The day is done.

Why I say the day is done is because the mkt. moves approx. 10 pts on any given day. That 10 points was realized in the first hour.
--------------------------------------------------------------------------------
More...

I reckon that was based on times before vola increased daily average range.
 
Quote from my2cents:

From the man who introduced the concept of the rule of 10 to this Journal



The workings of the rule of 10 are very simple. The reasoning behind it is very mechanical.

Most buy and sell programs are designed to run for aproximately 10 pts.

Who wants to see today's results?

Just,
My2cents
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Please stay off the meds my2cents

Volente_00 beat you by about 4 months and 400 pages.

Quote from volente_00:

Rule of 10 says short at 1258-1259
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(from page 438 of the ES Journal ... but he posted it before there in other threads)
 
Quote from gohstrader:

What is the rule of ten if u would be so kind to explain.

Thanks

GT
More...

I've asked, but they never say. You can try searching for it, as I have, but I have not found an actual explanation.

It may be an inside joke...
 
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