Rule of 10 Journal

Quote from Pekelo:

Another one from 63.25 to 72.75, 2 ticks away...
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what about now ?

Being that it came around 10:30 gives it more strength.

We either fall or we run to 77.





Looks like the T day boys are in oil as well.
 
Looks like we just missed that short entry by a tick. :(

No entries long overnight as we did make some new reaction highs. I'm using the 3:00AM EST 5 min bar, hence no long entry.

We just got short from the overnight reaction low at 10:20AM.

Short 1273.25
Stop 1276.25
Target 1263.25
 
Quote from Now is Now:

I see your point...and it makes sense use the 9-11..using the "11" would have given us a 74.00 which would have given the 10 point profit.

I assume the new trade would therefore be SELL@72.25 s/l 75.25,which in turn would have adjusted stop to 72.25 from +3 point gain.

Question: Would you take the SELL@ 74.25 even though you flattened at 72.25?
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No because I would already in the trade short 72 -73. If this trade fails, then it indicates an assualt on 1277 area next. Hence why I am taking some off at ~68 as it is the 50% retracement level because I don't know if we see lower or 77 first.
 
Quote from volente_00:

There is also a tremendous difference between trading real money and paper trading the strategy like jag is doing. I have traded real money with this strategy in es and ym since 2004. It still works to this day for me.
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I think this is the next evolution of the journal. Perhaps I will trade with real money shortly. I might use my backup futures account (Infinity AT) and then I ll just post a statement every night. The only problem is catching trades overnight and early in the morning as I'm on PST.
 
Quote from volente_00:

No because I would already in the trade short 72 -73. If this trade fails, then it indicates an assualt on 1277 area next. Hence why I am taking some off at ~68 as it is the 50% retracement level because I don't know if we see lower or 77 first.
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Had a feeling that would be your answer...have also been monitoring the retracement factor to take profits from position at the same time as adjusting the s/l.
 
Quote from jagmot:

No entries long overnight as we did make some new reaction highs.
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I think the 65.50 long was legitime this morning...went 8 pts in the money...
 
Quote from jagmot:

Looks like we just missed that short entry by a tick. :(

No entries long overnight as we did make some new reaction highs. I'm using the 3:00AM EST 5 min bar, hence no long entry.

We just got short from the overnight reaction low at 10:20AM.

Short 1273.25
Stop 1276.25
Target 1263.25
More...

I would have thought you would have been long from 65.50. And therefore would not be taking the short. In fact, I would think you'd still be long since it didn't hit your 10 point target.

OldTrader
 
Quote from infinity08:

Hindsight is a wonderful thing.
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Except it wasn't hindsight, NiN was long, just got stopped out because his adjustment of stop, but Jagmot doesn't use that tactic. Oldtrader also thought the same so we have 3 people agreeing on that entry...
 
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