Rule of 10 Journal

This next long signal was 1263 from the previous bounce up to 1273...Sorry for posting late, market is too fast...
It was also an SMA bounce entry from the cash chart, currently above 67, so it shouldn't be worse than breakeven now...

Edit: I would take the gains at 67.5 too big gap below...
 
So the last 4 trades were all breakeven or better. The first overnight short let's say I would have taken 3 pts gains automaticly*, the 2nd I posted the 7 pts gains, the 3rd even if it went 4 pts in the money, let's say we got stopped out at breakeven and this last long 4.5.

3, 7, 0, 4.5 = 14.5 pts

* I posted this earlier in the journal that overnight I would take 3 pts gains with the 3 pts SL, easy to automatize
 
Quote from Pekelo:

So the last 4 trades were all breakeven or better.
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Wow, that's pretty good.

Hey, are those trades taken with a live cash account, or are they paper traders?

TIA Pekelo, I think that's an important question for jagmot and the other journal followers.
 
Quote from Pekelo:

It was also an SMA bounce entry from the cash chart, currently above 67, so it shouldn't be worse than breake
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Here is how an SMA bounce looks like:

n37nn4.png


My trades are paper, but as long as I post it beforehand or in real time, it is as good as real for testing. (me thinks)

Edit: Next long would be 1260...short 72.75 (also an FMB)
 
Quote from Pekelo:

My trades are paper, but as long as I post it beforehand or in real time, it is as good as real for testing. (me thinks).
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Thanks for the clarification, I appreciate the honesty (and so do the readers, me thinks).
 
Quote from volente_00:

Pek why would u wanna take a long with a gap up? And is jj drunk? can anyone tell me what the es high was since last night?
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Just got back...looks like I missed some action....high last night 8200.

Looks to me I have a possible short @ 7350 coming up (6350+10).
 
Quote from volente_00:

Pek why would u wanna take a long with a gap up?
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I mentioned this 2 days ago, that there is nothing wrong taking the trades on a trend day (against the trend) or a gap day (against the gap), as long as one doesn't expect a full 8-10 pts gain.

Since I tend to get out with a modest 3-4 pts gains most of the time, I don't see a problem with taking those trades. After all, the market seldom goes up/down in a straight fashion... Also I had other indicator on my side (SMA)...

Edit: Since there was another newer high at 1271.5 there was a newer long entry. Either way, both 1260 or 1261.5 were stopped out... So -3...
 
Back trading the r10 signal since about 10:30AM EST. Just got filled on a long at 1261.75


And got stopped out in about a minute
 
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