ES Journal Archive (2006 - 2008)

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Quote from OldTrader:

I'm sure B1 must use some discretion with the application of his rule, much as you do with the application of this rule of 10. By the way, last reaction low RTH was 1401.50. Add 10. 1411.50. A 3 point stop would have been 1414.50. I gather this is an example of the rule of 10 not working?

OldTrader
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The rule makes zero sense to use a fixed % amount on a fluctuating number. That is letting the gyrations of other markets dictate your trade management for you.
market went 1412.25 to 1409.25 before it went to 1414. So .75 heatt to make 2 point. If you are stubborn and think every trade will yield 10+ points then rule of 10 is not for you as you will get stopped out from your own greed. That is why scaling is so important for the methodology to work. As I said before sometimes it is only good for 2 points, sometimes 10 or 20, getting in is easy. managing the trade is the hard part.
 
Quote from smilingsynic:

The rule of 10 works great, when it works; however, that is not always apparent until after the fact.

toolbox needs more than just 1 tool.
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Thank you. I couldn't have said it better. I can't stand it when someone tells me after the fact that I should've done this and that. Yesterday, the T-day theory said that Tuesday would be an up day and the futures I believe closed lower. Yes, we've had up/ down/ up moves but the close was negative. That behaviour can happen on any day of the week. Let me recap what has happened since Monday with this so called rule of 10. On Monday (using 24 hr trading on futures) the market had a swing of 7 points in the night time hours and almost 18 points from the low of 1386 nonstop. How does that make it a rule of 10?? On Tuesday, we've had a swing of approximately 10 and the other 13.25 and 14 respectively. Yet he talks about how many 10 points we could've caught so far for the week after the fact. I bet you when we encounter a 33 point or a 46 point day he'll tell us, "10 day rule doesn't work, does it" (with a confused smilies, of course). Pleeeeease. Either you place the order in this journal with clear consice fashion like the thread originator does and many others, or keep your "after the facts' to yourself.
 
iloveoptions,
what are the mechanics of your trades?

do they all work perfectly from open to target?

or do you have to manage the trade? with something like a protective stop?

I'm sorry, I have to plead old age and faulty memory here, Could you please refresh my memory as to the set of rules you use to make your trades?

thanks in advance.
 
Quote from iloveoptions:

Thank you. I couldn't have said it better. I can't stand it when someone tells me after the fact that I should've done this and that. Yesterday, the T-day theory said that Tuesday would be an up day and the futures I believe closed lower. Yes, we've had up/ down/ up moves but the close was negative. That behaviour can happen on any day of the week. Let me recap what has happened since Monday with this so called rule of 10. On Monday (using 24 hr trading on futures) the market had a swing of 7 points in the night time hours and almost 18 points from the low of 1386 nonstop. How does that make it a rule of 10?? On Tuesday, we've had a swing of approximately 10 and the other 13.25 and 14 respectively. Yet he talks about how many 10 points we could've caught so far for the week after the fact. I bet you when we encounter a 33 point or a 46 point day he'll tell us, "10 day rule doesn't work, does it" (with a confused smilies, of course). Pleeeeease. Either you place the order in this journal with clear consice fashion like the thread originator does and many others, or keep your "after the facts' to yourself.
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On sunday night, mon early morning, did es not run from a previous reaction low at 84.25 from last friday to 94.25 before it pulled back to that 86.25 monday ? What was wrong with shorting 94 area ?

There were 5 signals alone yesterday. Some get it, some don't. I guess the saying is true about the horse and water.
The same thing happened with the turtle traders. All were given the same methodoloy yet some failed and some made millions.

Nice of you to bring up 1386


what is 1416 - 1386?
 
Quote from volente_00:

There were 5 signals alone yesterday. Some get it, some don't. I guess the saying is true about the horse and water.
The same thing happened with the turtle traders. All were given the same methodoloy yet some failed and some made millions.

Nice of you to bring up 1386


what is 1416 - 1386?
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What Bull. There were no five 10 point swings yesterday. Only three main swings, two in which were greater than 13 and 14. Please get your facts straight.
 
On sunday night, mon early morning, did es not run from a previous reaction low at 84.25 from last friday to 94.25 before it pulled back to that 86.25 monday ? What was wrong with shorting 94 area ?
 
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