Rule of 10 Journal

[vertigo3]

up 7 points? isn't that the time to take half of your profits and move stop to capture at least 2 or 3 points on remainder?

 

[volente_00]

yes but the only problem is we are hovering right at 9.5 from 1306,

what to do

what to do

 

[volente_00]

so what did u do

 

[volente_00]

trend = trail

let the market come to you.

 

[Pekelo]

Up 9 pts, I say we take it!

Because what Volente mentioned, this could be a long entry too...

Edit: Already below 1294, so the position is exited at 9 or 10...

 

[vertigo3]

thanks, vol. takes real discipline though.

94.00 obvious chart support from Friday afternoon and overnight from Sunday.
but still just seeing lower highs and lower lows.

not easy for me yet.
have to work on discipline.

 

[Now is Now]

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....

Nice hit...Sold@1304.00 Bought @1294.00

Incidently, Jagmot I think the max. consecutive losses stand @ 2.

 

[volente_00]

Quote from vertigo3:

thanks, vol. takes real discipline though.

you hit the nail on the head.


possbile 10:30 reversal in the works

 

[volente_00]

Quote from Now is Now:

Nice hit...Sold@1304.00 Bought @1294.00

Incidently, Jagmot I think the max. consecutive losses stand @ 2.

"I aint worried bout a thing
cuz i just hit me a lick
i got a fat sack and a super fly chick
and (uh uh) there aint naithin you could say to a playa'
cause doo wop, she fly like the planes in the air"



http://www.youtube.com/watch?v=kqWzWMhaKtg

 

[jagmot]

Quote from jagmot:

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

Unfortunately, this trade was stopped out. Remember while in a trade we ignore price action.

2nd trade
1305.75 overnight night
Long 1295.75
Stop 1292.75
Target 1305.75

2nd trade stopped out as well
Trade entered at approximately 9:45EST

2 stop outs at -3.25 each or -6.50 total

journal results so far
5 of 14
+20.75 points total