Rule of 10 Journal

Quote from volente_00:

All of the losing trades came from taking long signals, what does that tell you about the trend ?
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There is nothing wrong taking entries on a trend day, you just have to know that sometimes 1-3 pts all it makes. My result for yesterday was:

Quote from Pekelo:

For today, I would have got: 5, 2.5, 1.5 and -3 pts with a 96 exit from the 1301 short.
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That's why I had the Williams exits to save my ass. :)

For today I would have had one short from 1278.5, nicely paying off. So I would be nicely up after 2 days. I think it is really great to see the different approaches to the same system...

Edit: I have just realized there was another short entry at 1276.5 just before close and it fell 2 points, now still lingering around 1275, so another small winner for today.
 
Quote from Pekelo:

There is nothing wrong taking entries on a trend day, you just have to know that sometimes 1-3 pts all it makes. My result for yesterday was:



That's why I had the Williams exits to save my ass. :)

For today I would have had one short from 1278.5, nicely paying off. So I would be nicely up after 2 days. I think it is really great to see the different approaches to the same system...

Edit: I have just realized there was another short entry at 1276.5 just before close and it fell 2 points, now still lingering around 1275, so another small winner for today.
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There is nothing wrong other than it severely limits your profit potential. Why would one want to subject theirself to the emotional exhaustion and added stress that fighting the trend on a trend day gives ? It takes a lot more work period, and you will end up with small gains and that is only if you get good entries and are moving the stop to break even to prevent losing 3 points on the next leg up or down. Show me a chart of today with your bollinger bands on it. My guess is they worked much better today than on tuesday.
 
Quote from volente_00:

All of the losing trades came from taking long signals, what does that tell you about the trend ? If one followed what the simple 9/18 was saying they would not have taken those long signals. Simple as that. As I have said all along, if you are on the wrong side of the trend using r10 then you will grind all day and will only be able to capture minor retracements. 9/18 helps keep you on the right side of the trend period and lets you capture more profits by riding the intraday trend. There is a reason why I never let myself lose more than 3 points total in a day ever.
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Perhaps you had posted about 9/18 before, but I had not seen it until a few days ago. I may adapt to that methodology as well, for the time being I am using 2 full stop outs. At this point we are just barely into day 2 live money. I would at least like to give the strategy 100 trades (or more) before I make any changes.

V - you are the master at your strategy. Hopefully this system I am crafting (based on your rules and some of my interpretation) will be close to you in terms of overall profits per contract. I don't expect you to give away all your secrets but thank you for sharing everything that you have so far.
 
Quote from jagmot:

Perhaps you had posted about 9/18 before, but I had not seen it until a few days ago. I may adapt to that methodology as well, for the time being I am using 2 full stop outs. At this point we are just barely into day 2 live money. I would at least like to give the strategy 100 trades (or more) before I make any changes.
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I have always had it on every es chart I have posted on et. I did not want to complicate things even more considering people were having trouble grasping just the basic concepts of the methodology. Just curious why you backtested a totally different variation that what you are using to trade live with ? The bottom line is everyone "sees" something different given the same rules so you have to do what works best for you.
 
Quote from volente_00:

I have always had it on every es chart I have posted on et. I did not want to complicate things even more considering people were having trouble grasping just the basic concepts of the methodology. Just curious why you backtested a totally different variation that what you are using to trade live with ?
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Agree, people did have trouble grasping the basic concepts.

2 reasons for changing, the first system was setup for possible automation (which I learned was not possible at this time)

Second, I'm interested in learning more from the new setup

Is a lower r:r better or worse for the system?
Should a trailing stop be used, or just a breakeven stop?

This will hopefully help me create an even better system down the road.
 
Short from 1276.25 near 6pm just got covered @ 1271.25 (1 contract)

I'm suspecting more downside but want to play safe for now.
 
Quote from Decel:

Short from 1276.25 near 6pm just got covered @ 1271.25 (1 contract)

I'm suspecting more downside but want to play safe for now.
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Nicely done!

In regards to more downside. We have lots layers of support coming up! We were bouncing off of the daily 38% at 69, 50% is at 67 and the 61% is at 65.
But I did want to add there is a ECB rate decision at 7:45am.
 
Indeed my short-term charts said down but we have a concrete floor in the 1250-1260 area.

A bounce would be nice, but we've been there so many times that imo the whole 1250-1300 segment is a big danger zone. Wish we would break out of it already.

Well I'm off to work so can't post, but the last reaction high is 1274, so a buy at 1264 is pretty decent. Reaction low: 1268
 
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