Rule of 10 Journal

Quote from Now is Now:

I am jumping ahead of myself, but there is a SHORT 7450 confirmed from 6525 +10...picking up an either 3 point profit 7150 or stopped 7750.

Noticed that both "hard 10" and 9-11 in.

Strictly speaking, I should not have put this trade on until after 4.30 est.
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BGT 7150 mit (7175)...good to see Jagmot had a good hit if he stayed up all night.
 
Quote from jagmot:

Just got back a few minutes ago, I meant short 76.25 not long.

Should have entered into short at 76.50 if I was here (using 3:10 and 3:15PM EST 5min bars). I'm going to see if I can get filled, just waiting for now with the short order.
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Got filled lets see what happens
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Target 1 hit +5
Target 2 trailer hit +3.5

Currently flat looking for next setup now
Orders at 59.25 long and 74.25 short
 
Looks like last high was 73.25 and low was 64.75 (although it might still be going lower as it just hit that level).

Edit: You are right, high is now 69.25.
 
Quote from ryank:

Looks like last high was 73.25 and low was 64.75 (although it might still be going lower as it just hit that level).

Edit: You are right, high is now 69.25.
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I looked at that high as well. Also just noticed we have ISM numbers coming out at 7. I'm going to keep the brackets on.
 
Quote from ryank:

Looks like last high was 73.25
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Yes, that's what I would count too, so far a nice entry...

Edit: I would also take the current 3 pts gain...

Edit2: Proved to be a good decission, fell back below 63...
 
Quote from jagmot:

As I go to sleep here I don't see a good reason to place either a long or short entry as both are nearby and don't wish to place both.

Todays results (totals)

3 full stop outs -3 points x 2 contracts
1 target hit +5 points x 1 contract
1 trailing stop hit +5.5 points x 1 contract

-7.5 points total x $50 = -$375
8 commissions @ $4.80RT = -$38.40

Total for the day -$413.40
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9/3/2008 results

1 full stop out -3 points x 2 contracts

-6 points total x $50 = -$300
2 commissions @ $4.80RT = -$9.60

Total for the day -$309.60
Total for the week -$723.00

Note results from last nights trade will be posted with todays results because the end result did not close until this morning.
 
Here is another interesting point:

Reloading the position. Just like this morning the 63 entry went in the money by 3-4 points (where I would have exited) then droped back to the entry level and took off again, going up as much as 5 pts.

This double entry could have paid off at least 3-4 times in the last 6 trading days if I recall correctly, I know yesterday the short did return to the same level. So maybe worthy to consider...
 
For the time being the low is now 51.50 for a short at 61.50. What to use for the high? You could use 68.25 and go with a ROT x2 for a new long at 48.25. I'm thinking about staying out of the way until a "fresh" high is made.
 
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