Rule of 10 Journal

Quote from Decel:

So following your logic, if that 71 area comes around again (testing support for example), I should take it (72.75 & 70.75), since technically I should have been on the ride?
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It worked the first time, will it work again ? That is a chance you have to decide.
 
there was a new reaction high intraday at 81,75, which then move to a new reaction low 71.50 after hours, and now a new reaction high 79.50 after hours. If you don't trade after hours does that mean you take a new long position at 69.50 intraday, providing the price doesnt make new highs or lows after hours, and ignore the fact that you should have taken a long at 71.75 thats after hours?
 
Quote from OldTrader:

......As far as the strategy, I like the fact that it has you buying weakness, selling strength. I do that in my own trading. And I think that type of strategy has much to offer, especially relative to the more common types of strategies which chase strength, and sell weakness.....I think a little work with the basics and a guy could have a pretty good technique.

While I do think there's some discretion involved in which 10 point move serves as your entry, and exactly how you handle the trade after you've got it on.....that doesn't disturb me in the least because I think the market is all about discretion. It's been easy enough to see roughly where a trade ought to be made according to the strategy.

All in all I think it looks to be a promising method, especially with some work.

OldTrader
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I must admit that I was a skeptic, but I am now slowly becoming a believer in this strategy as well. The results have been spectacular as traded by Jagmot. I'll continue to watch.


Edit: Special thanks to Volente for all of his insightful and experienced quotes.
 
Quote from volente_00:

If 71 can hold, you just might see 91, perhaps tomorow. Do you wanna be short before a run to 91 ?
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This morning's high was 88.50, not bad....

So where is the next short entry? I thought 1287 would be good, because 1277 was the plateau low this morning from where it jumped...

If so we would be in the short already....
 
Quote from Pekelo:

This morning's high was 88.50, not bad....

So where is the next short entry? I thought 1287 would be good, because 1277 was the plateau low this morning from where it jumped...

If so we would be in the short already....
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you are right. It was good for only 4 though. But now lets see if we get 83 to 93.
 
Quote from volente_00:







71's look buyable, ihs pattern setup on the daily and 50% retracement level.
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Just coincidence that this went 10.25 down from 81.75 before smoking the shorts?


:D
 

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Quote from volente_00:

Just coincidence that this went 10.25 down from 81.75 before smoking the shorts?


:D
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LOL. There is no way that I expected a 10 point rally from that low overnight.

Oldtrader
 
Quote from bbqbbq:

there was a new reaction high intraday at 81,75, which then move to a new reaction low 71.50 after hours, and now a new reaction high 79.50 after hours. If you don't trade after hours does that mean you take a new long position at 69.50 intraday, providing the price doesnt make new highs or lows after hours, and ignore the fact that you should have taken a long at 71.75 thats after hours?
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Or a short in 87 to 89 range.


We either hit 91 or this fills cash gap at ~78. Or possbily both.


I would love to see 83 to 93 for a short that falls back to 78.
 
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