Rule of 10 Journal

Quote from jagmot:

Thanks Now. It looks like you are using the absolute highs and lows which I don't personally advocate.

Regardless, the trades should work a decent amount of time. Are you keeping track of your results? I'd love to see the results (ie like 2 for 5, 3 for 8, etc)
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Not in absolute terms...I was going to poach your results for the purposes of setting up a risk/money management method..the only thing I might ask is if you can separate your "hard 10 " results from the "reaction trades"...

The reason I used the absolute high in this case is because I completely missed the short trade, therefore my results would be scewed anyway.

One of the coincidences I have seen so far is how the "trade" consistently (this month) advances/decreases by approximately 2 points...I am not an advocate of averaging down, but it seems to me there could be an "opportunity" here as we are working with a 3:1 ratio.
 
Quote from jagmot:

Many did, but also at least 1 winner (that I know for sure) would have stopped out at breakeven. I think there is a second but I am not sure.

I agree with you in managing the trade, however a journal is not the proper place to constantly moving stops.
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It is not about the stop, it is about the target. Since you are using a larger fixed target and not trailing, your win rate and points gain will increase if you tweak the r to r. Even at 1 to 1 you will get the same point gain, but you win rate will increase about 30%. Your homework is to find the correct r to r between 3 to1 and 1 to 1 and your profit will greatly increase along with the win rate.
 
Quote from volente_00:

It is not about the stop, it is about the target. Since you are using a larger fixed target and not trailing, your win rate and points gain will increase if you tweak the r to r. Even at 1 to 1 you will get the same point gain, but you win rate will increase about 30%. Your homework is to find the correct r to r between 3 to1 and 1 to 1 and your profit will greatly increase along with the win rate.
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I'm going to let the individual trader figure out what works for them best.

My trade setup and journal is really just a framework to get started not the holy grail by any means.
 
Waiting for the next trading setup.

Currently we have a long waiting at 1266.75 or a short at 1278.75. Can we make it 3 wins in a row?
 
Quote from jagmot:

Waiting for the next trading setup.

Currently we have a long waiting at 1266.75 or a short at 1278.75. Can we make it 3 wins in a row?
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Just got our long fill. Stop 1263.75
 
Quote from jagmot:

I'm going to let the individual trader figure out what works for them best.

My trade setup and journal is really just a framework to get started not the holy grail by any means.
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Looks like it's working fairly well. And I think it's worth saying that as you attempt to "manage the trade", you may well cut off some of those 10 point winners as well. Law of unintended consequences.

OldTrader
 
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