No, Jagmot ignores the noise after his entry point.
Rule of 10 Journal
- Thread starter jagmot
- Start date
Sorry to throw you.
I wasn't attempting to say how it should be, or what the best thing to do was, or what I would do if I were in the situation, or for that matter, what you should do. What I was trying to say is that jagmot's method is that be closes out 10 points from his entry. Therefore, at this time if I understand his method correctly (and perhaps he can comment), he is still short from 92.50. He doesn't adjust his stops, change his target, etc etc.
Further, in the interim, he doesn't look at price action while he is in the position. So the fact that we dropped 10 points from the high, has nothing to do with where his exit is, because it is based on his entry.
Finally jagmot, as far as I understand, does not reset entries on either the long or short side until he is out of the position. So even if he closed his trade at 93.00, he would not re-enter there.
Volente on the other hand operates much differently. As I understand it, R10 is strictly an entry strategy....got nothing to do with exit. And he trails his stops.
In other words, everyone puts there own spin on this. Jagmot's method is working well. Some of the other guys seem to be doing well too.
Hopefully this clarifies to a degree.
Oldtrader
A net piece of charting...takes all the guess/calculations out of it where is the software from?
I use the reaction high or low, jag uses the entry. The problem with using the entry is if you do not catch the exac tlow or high tick then you are not placing the next signal on a "10" overall move.
33% win rate
99 trades
33 for 10 points each +330
66 for - 3 each - 198
132 net points
80% win rate
99 trades
79 for 6.5 points each +513.5
20 for -3 each -60
Net 453.50
2 to1 looks a little better than 3 to 1 imho
Which do you prefer ?
Did we establish that 80% of these trades actually moved 6.5 points, and that only 1/3 move 10? I musta missed it.
The point I made however is that the smaller the target, the more accurate the entry must be. I didn't say it was or it wasn't. And based on the info I read in this thread, I don't see any data that would lead me to conclude that I'm better off using some other target. But I'm open to it....let's see the data.
Oldtrader
I disagree. The smaller the target the higher probability you have of it getting hit on an intraday basis. Not every r10 signal produces results like the 20+ from last night. The point I am making is that 1 to1 will give you the same or better results than 3 to 1 using r10. The most profitable r to r is somewhere in between the two.
I'm still waiting for jag to tell us how many of the losers he had that went 6 points in the money before he let them turn into a 3 point loss. That is where your answer lies.