Rule of 10 Journal

Quote from Pekelo:

I would take the 4 pts gain here because I have a long signal...
Gap is kind of still too big, but a signal is a signal...
More...

Fair enough, profit is a profit.,,,I am personally 1/16 s/l 92.25 ..1/16 free wheeling to reverse BUY signal...probably around 94.50 /95.00 if it gets there....looking forward to approx 74 though...
 
Quote from tomahawk:

Thanks.

Yesterday I posted about just this situation ... where I was looking at the RTH low as the reaction from which to measure the entry signal. After a subsequent higher reaction low, the consensus seemed to shift to low #2 as being key ... so that's the only reason I was asking.

In any case, 92.75 short seems to be working great (as did yesterday's RTH LOD-based r10).
More...

I think these guys are using 5 minute, 24 hour charts. So based on that there were 2 reactions down to about 1283 between 7-9 CST. This then gave an upside entry of 1293. At least that's how I would look at it.

That low of 1282.75 on the RTH chart is actually one of those reaction lows from the 24 hour chart.

I think using the RTH works pretty well. But the 24 hour chart would give you some additional detail. For instance, there may have been a short at 1287 around 7 AM CST. This basically only gave a few points, and would have been stopped out. If you had moved your stops, which some of the guys do, it would have been a break even I suppose.

I'm no expert with the method, but I think the above is essentially correct as I see it.

OldTrader
 
Quote from Pekelo:

I would take the 4 pts gain here because I have a long signal...
Gap is kind of still too big, but a signal is a signal...
More...

Long signal based on what? Not the Rule of 10 I trust.

OldTrader
 
No, based on Bollinger play. Obviously a 87 exit would have been better....

Actually 89 was the Williams signal and we didn't hit the Bollinger until 87...
 
Quote from Pekelo:

No, based on Bollinger play. Obviously a 87 exit would have been better....
More...

See, everyone to their own poison:D

Did Jagmot pick up these last two trades?
 
Quote from Pekelo:

No, based on Bollinger play. Obviously a 87 exit would have been better....
More...

I see. Just an opinion, but it looks to me like the rule of 10 is doing well all by itself. It doesn't look like it needs help from the bollinger band. That bollinger band probably would have got you out of what turned out to be a very successful long trade yesterday. Keep in mind I know next to nothing about bollinger bands. LOL.

OldTrader
 
Quote from OldTrader:

I think these guys are using 5 minute, 24 hour charts. So based on that there were 2 reactions down to about 1283 between 7-9 CST. This then gave an upside entry of 1293. At least that's how I would look at it.

That low of 1282.75 on the RTH chart is actually one of those reaction lows from the 24 hour chart.

I think using the RTH works pretty well. But the 24 hour chart would give you some additional detail. For instance, there may have been a short at 1287 around 7 AM CST. This basically only gave a few points, and would have been stopped out. If you had moved your stops, which some of the guys do, it would have been a break even I suppose.

I'm no expert with the method, but I think the above is essentially correct as I see it.

OldTrader
More...

Thanks OT. To clarify, I do use 24-hr exlclusively. I just used the "RTH" reference to simplify identification of the low in question.

That 82.75 low would be the one I normally use for r10 plays; I only brought up the higher low of 86.50 to see if anyone was even considering raising their entry. I was sort of fishing for people's thoughts on specific criteria for moving the "start line".
 
Quote from OldTrader:

I see. Just an opinion, but it looks to me like the rule of 10 is doing well all by itself.
More...

Well, yes. My approach was since I had 2 contradictory strategies/signals, to get out with a profit but not get in with the new signal. Looks like the R10 (and the unfilled gap) was the stronger one...

Question is: Would the 1283.75 be the next long signal?(and I guess an exit from the previous short)
 
Quote from tomahawk:

Thanks OT. To clarify, I do use 24-hr exlclusively. I just used the "RTH" reference to simplify identification of the low in question.

That 82.75 low would be the one I normally use for r10 plays; I only brought up the higher low of 86.50 to see if anyone was even considering raising their entry. I was sort of fishing for people's thoughts on specific criteria for moving the "start line".
More...

I think this is where your discretion comes in. I think you're going to find that there will be various wiggles along the way to the R-10 spot, which you could conceivably use to adjust your entry. The problem is that you can adjust yourself right out of an execution.

There comes a time when you simply "pay your money, take your chances".

I think exactly where that 10 point entry is has a certain amount of discretion. As Volente say himself, it could be 9, it could be 11. And again, there's the matter of those wiggles.

OldTrader
 
Quote from Pekelo:

Well, yes. My approach was since I had 2 contradictory strategies/signals, to get out with a profit but not get in with the new signal. Looks like the R10 (and the unfilled gap) was the stronger one...

Question is: Would the 1283.75 be the next long signal?(and I guess an exit from the previous short)
More...

Why not?ince you exited the short trade and it -10 from the top...seems to me like a valid entry.
 
You must log in or register to reply here.
Back
Top