ES Journal Archive (2006 - 2008)

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Regarding the rule of 10:

If the opening price is the most important piece of information for an intraday trader, why doesn't the rule of 10 take that number into account?

Open = 1410.00

Sell signal = 1420 (actually, 1419.75, because of the spread).
 
This is not honest. Vol is not publishing all trades including losing trades - (may be some those looks interesting to him) but why you have problems with it?

I thought that I understand application of rule 10 but now I found that not completely but this is my problem, not vol. Truth is that vol is explaining it somewhat chaotically but he could do it in past /read this journal completely is impossible/ or it can be a bit lack of pedagogic talent. But this does not speak anything about vol like trader.


Quote from joeyata1:

ask yourself 1 question and 1 question only. how many times has
anyone seen volente 00 say he's lost on a trade. 1 time? maybe 2 or 3 times the past 6 months? a scalp trader trading 5-10 times a day losing 2 or 3 times in 6 months?answer that question and all your questions are answered. see when you have 30 different rules from rule of 10,20 or 30 to tons of other rules you can claim victory every day. on volatile days volente's a scalper and on straight up days like today he buys and holds all day. see all of you can bat 1000. i want my ribeye medium well
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In order for size sellers to be positioned properly, they must first build their position during the run up, or even melt up.

Then, before the obvious upside target is hit, send the price way back down to turn the original buyers who ride their way up to puke their positions.

Graphical isn't it? :)

My guess is the obvious targets for the 3 indices will not hit until after a meaningful shack out -

1440, 2050, 13100.
 
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