Quote from deaddog:
I take it that you ignore the lows made prior to the breakout and use the low made just before the breakout?
Many times it will be the absolute low or high, but you need a reaction. On the last failed trade, we used the absolute low, because the price reacted. Price touched 1261.75 and within 5min the price was at 1268.
I look at todays move as follows
low to high 61.75 to 86.75
consolidating 80.75 to 86.75
then breakout from 82.75 to currently 95.50
I honestly expect this trade to get stopped out anyways. also i posted it over an hour before the trade was made and no questions...why now after the fact?
No one wants to discuss the long that we didn't take this morning? I wonder why, is that because it worked? I didn't include it to be fair / add more fuel to the fire because it wasn't called out in advance...however it looks like a legitimate trade to me. I'm just trying to shed a little light because there are so many r10 detractors out there.
Who knows if this simple system is even going to work over the long haul...however I think its pretty obvious (at least to me) that just a little bit of money management shows that the r10 has merit and is a profitable system.
