ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Exactly. But better yet, why not prove it. Put those theories to the test in front of everyone to see. The way I see it, Volente picks a lot of those 10 point moves but you rarely know where his stops are, so you have to be creative to figure them out yourself. On the other hand, B1S2 goes for the big moves but gives a lot of it back. For example, it took some 3 months to capture some 100 points, which comes out to about 1.33 points a day. Each strategy can yield spectacular profits with the right conditions. However, since the ES behaves in an oscillating fashion some 66% of the time, the daytrader has the upper hand but with more difficulty due to correct stop placement and R:R. Since B1S2 is already long from 1388 with a clear defined stop, there's no better time to prove each others theories than now.
Quote from volente_00:
You sound like some of my atheist friends.
I am not an atheist, but rather a skeptic. About God, and about everything. The world is full of BS, but there is some truth in there somewhere.
I have before explained that while I am skeptical about the rule of 10, I have seen times in which it has worked. Unfortunately, when it works is only known after the fact.
Do I use it? To me it is on the same lines as floor trader pivots--good information to know, because others believe it works. If the S&P has made a 10 point move off of a swing high/low, I'm aware, and look to tighten my trailing stop.
I am a tape reader, and am always interested in what other participants are looking at. I am open-minded, and see B1S2's dogmatism as unfortunate and as inconsistent with good trading. But he seems to be doing well--good for him, and for you.
Short NQ 1816.25 Stop 1818.25... target 10-15 points
Got a nice bounce off the 78.6%... now this 10-min div just needs to close and its gold
Got a nice bounce off the 78.6%... now this 10-min div just needs to close and its gold
Stop is 3 1/4 points or so lower than yesterday's low--makes sense. Not too close, nor too far.
10-min pretty much closed so its looking good. Stop lowered to 1816.00. Really nice target at 1902 with a chicken-out target of 1906.50.
Stop lowered to 1813.75.... target 1901-1903
Stop now at 1910
Covered 1906.00 because I don't like the bullish div showing up on ES.
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