Rule of 10 Journal

Quote from Now is Now:

We need Jagmot to qualify his 24 hour break....is it from the time of his last trade or stop?. Why not rule off the book and start afresh from the new high/lows as from 4.30pm est.

I am "choosing" the latter for the benefit of this exercise, so my potential trade ,at present, will be BUY 1291.50 s/l 1288.50.

Jagmot, do you have a record of consecutive losses ...this will assist me with what I will attempt to do....I am talking about the "hard +/- 10's " only...thanks.
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I've qualified the rule previously in the thread.

For 24 hour break, I use the 2nd entry time and not when I get stopped out.

I do not have a record of consecutive losses as I only started papertrading this strategy with the start of the journal.
 
Quote from Now is Now:

In all honesty, I would now be evens on this trade as it spiked to 95.50 ...would adjust my s/l to 92.50 as i could not not, in all good consciousness, watch my "profit' turn into a loss at 89.50.

I got knocked out at 92.50.....if turns around ...great..there will be another trade....might get a little pissed off though:D
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I agree with you, but for purposes of the journal I will not be moving my stops at this time. I have enough problems posting in real time on just the trades, let alone moving stops etc.

I think regardless, some trades are going to stop out at be like this one (that did turn into being a 10pt winner) vs. ones that would stop you out at your original stop loss.
 
Quote from jagmot:

Yep we just got "bowled over"

2 trades both stopouts
-6.5

5 of 12

+27.25 total points

Stop trading for 24 hours per rule.
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The second trade was initiated at approximately 10:35AM on Thursday.

Per the 24 hour rule, we would have missed the first r10 signal long at 10:05AM (which was successful for those who only take a break till the 4:30EST close)

The second signal short at 10:50AM EST was past the 24 hour rule and should have been taken. This trade is still pending although I was unable to post it in real time.

Trade as follows
Short at 1300.50
Stop at 1303.50
Target at 1290.50
 
I apologize that I was not able to post on Friday. I trade a lot of equity options and with Friday options expiration day I was quite busy rolling some positions and closing some out.
 
Quote from jagmot:


Trade as follows
Short at 1300.50
Stop at 1303.50
Target at 1290.50
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That was stopped out but I think there should be another short entry from 1304, because overnight low was 1294. Also the stopped out position went 6+ pts in the money....
 
Quote from Pekelo:

That was stopped out but I think there should be another short entry from 1304, because overnight low was 1294. Also the stopped out position went 6+ pts in the money....
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Now we are cooking with fire

:)
 
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