ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

Hey Volente,

I wasn't there for the 1307.5 signal. (I was leaving for at a meeting at work--I can only trade full-time M, W, and F--only 3 hours on T and TH). Before my 2 PM meeting I placed a limit order at 1309 out of the assumption that they were going to knock them down 30 from the overnight high.

So, yes, I followed the rule. I chose 1309 because I wanted to be sure that I got in. Remember, I wasn't going to be able to be at my computer for a while.

I got a good price, but missed out on more since I traded only a fraction of my usual size (not going to go full size if I cannot be there). At least it was a nice surprise when I got back at 4 PM.

What can I tell you other than the rule sometimes works, and that I am more and more impressed all the time. But that T day stuff--I'm not convinced.

Yet.
:)
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My other favorite trade setup is the 3 days up or down and spank them on the fourth.


Maybe the rally today was just a result of regal talking to his "sources" and had nothing to do with T day or a rule of 10 signal






:D
 
shorted 30 lastnite with a 31 stop and a 20 target, stopped out, now short 33 with a 30 target ,stop 34, stopped out, short 35.....2/07 and 2/22 lows trendline at 1335 on cash, same trendline 12275 on dow fut, out at 30
 
ok good so we've established that we take the high are low from the extended hrs. only problem with last night is who's up at 4:10 eastern to buy it? some of us have to sleep to be sharp the next day. looking at the data from monday night into tuesday neither the rule of 10 nor 20 worked.the high of monday night into tuesday pre market was around 1337. so any buying at 1327 you would have been hurt are for those with 2 pt stops would have been stopped out. same thing with the rule of 20. stopped out. now the rule of 30 worked but and its a big if would somebody have taken it when they got stopped out on the rule of 10 and the rule of 20? also how long would many have held there longs from 1307 after seeing the volatility of the market and the sharp moves down? ONE THING I THINK LOST IN ALL THIS IS HUMAN EMOTIONS. SURE ON PAPER SOME OF THIS LOOKS LIKE IT WORKS BUT WERE NOT FACTORING IN HUMAN EMOTIONS. WE ALL KNOW IN A BIG DOWN DAY LIKE YESTERDAY WERE EVERY LONG TRADE'S PROFIT EVAPORATED FAST ITS TOUGH TO HOLD A LONG POSITION FOR A LONG PERIOD OF TIME. if this were that easy just crank up an automated program and walk away and come back every afternoon and your account will grow every day.why not do that?
 
So you were not up at 8 am to take the 1335 short signal ?


Maybe you need a better alarm clock






:p




The rule will never work if you don't have confidence in it.

No it is not perfect. Yes it has it flaws, mainly on a trend day which thankfully only happens every so often. But the best part is the simple rule teaches you patience, makes you sit and wait for the signal to materialize instead of jumping in and out and over trading.



Just like the turtle traders, they were all taught the same rules, risk managment, etc but some failed and some made millions.

It all comes down to person's psychological make up and being confident in yourself and your system even during a drawdown.


The automated system is only as good as the HUMAN who programs it.
 
approaching some interesting confluence levels.........fished last night & SLD 34.75.........covered @ 29.75 premarket......looking to reestablish some selling up here..........40/41 looking like ripe zone.
 
Quote from joeyata1:

we have the rule of 2,4 and then we have the rule of 10,2x10 =20, and now we have a 3x10 =30 rule,so i'll start the rule of 40 and 50 since were getting real volatile. i'm also starting a rule of 10 and 20 from the 3 pm europe close since i'm confused as sometimes the rule of 10 applies to overnights and sometimes it applies after the 9:30 open. ps(volente i covered 75% of my 7 figure short today) god bless all and good trading to all
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just for the record,i was the one that introduced the rule of 10 x multiples of 10 in hi vol situautions..........yesterday was a perfect example of just that.......it just can`t be denied & it was called ahead of time yesterday as i pointed out........i will say that the rule needs to coincide with S/R zone & not just taken by itself for me to take it.
 
Quote from Spooz Top:

just for the record,i was the one that introduced the rule of 10 x multiples of 10 in hi vol situautions..........yesterday was a perfect example of just that.......it just can`t be denied & it was called ahead of time yesterday as i pointed out........i will say that the rule needs to coincide with S/R zone & not just taken by itself for me to take it.
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Nonsense. I invented the rule of 10 and I don't wanna here some bs story about you being in the pit and using it !



:D
 
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