Rule of 10 Journal

Quote from jagmot:

Volente,

Do you keep stats of all your trades? I'd love to hear approximate stats, but understand if you are not interested or no longer keep stats. I myself don't keep stats on some of my methodologies because it is too cumbersome.

I plan on keeping stats on my r10 trades.

I'm curious approximately what win percentage you are at and avg profit per contract.
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~80 % average of 6 to 6.5
 
Quote from jagmot:

I've decided to change this rule as well. I've noticed that the rule has missed some great winning trades while not protecting me much from losing ones. I'm still keeping being done for the day but waiting an hour till after the previous close.

Here is how I'm setup for going into Sept 2nd when I start live trading this strategy.

2 full stop outs in a row and I'm done for the day. I won't place a new trade until 1 hour after the previous close (2:15PM EST). 2 stop outs in a row should also happen less frequently as I'm now using a 5pt target and trailing stop (once the first target is hit).

I will be trading 2 lots, with targets of 5pts and 10pts with a 3pt stop. Once I hit the 5pt target, stop will move to be and then will be trailed at 19 ticks automatically by the InfinityAT platform.

If I happen to be in front of the computer I will be moving my trailing stop closer as it approaches the 10 point target. If I'm not in front of the computer, then the worst that can happen (if the market goes +9.75 in my favor) is to get stopped out at +5.

My rr will be moving to 2.5:1 vs 3:1 previously, I will need a higher win percentage to breakeven and hopefully make money. (6pt total stop, 15 total profit maximum)

Once I'm in a trade, I will ignore price action for reversal, either getting stopped out or hitting a target. After exiting the trade, I will not ignore previous price action, as I did with the papertrading method.

Let me give a few examples so that hopefully this will be more clear. Lets say I'm long at 1252 with a stop at 1249 and targets of 1257 and 1262. Lets say we reach 1256 (not hitting my target) and then sell off and take out my stop at 1249. I will now look to setup a new trade long at 1246, which I did not previously and also a new short based on previous price action.

A second example, lets say I'm long like before with previous targets, etc. The market gets to 1258 before reversing. I hit the first target and then get stopped out for +1. I would then setup a long at 1248 and also a new short based on previous price action.

A third example, again long like in previous examples. After entering trade, market moves to 1250 before springing higher. Hits my first target, at 1257 and approaches 1260. I will ignore short here (where as sometimes Volente does and sometimes does not) at 1260 as I'm in the the trade currently and waiting for my 2nd target to hit. We hit the 2nd target at 1262. I will not be entering a short here even though the r10 short signal was at 1260. I will wait for a new signal and watch for a long only (and vis-versa when the opposite happens)

I will trade overnight, however since I will be sleeping I won't be able to cancel out the opposite trade once a trade is hit. What I will be doing is using r10 long or short that is closest to the market, which I plan on posting along with a screenshot of my statement every night. If there is a significant known news event the next morning, I will use discretion on whether to trade it overnight.

I will start this trade out with approximately 10,000. This is my backup trading account, so if another account goes down, I might need to hedge in this account (but hopefully not).

I hope that is everything.
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You are on the right track.


:)
 
Quote from volente_00:

So was today a chop or trend day ? Were the ma's right predicting the chop that they said early this morning ?
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You got the day right. But your lines didn't predict it. Take a look at your lines at 10:40 EST. What were they predicting? LOL.

Take a look at your lines at 2:45 EST. What were they predicting?

If I were you I'd shitcan those moving averages. They aren't doing anything for you that you might not have known anyway.

OldTrader
 
Quote from OldTrader:

You got the day right. But your lines didn't predict it. Take a look at your lines at 10:40 EST. What were they predicting? LOL.

Take a look at your lines at 2:45 EST. What were they predicting?

If I were you I'd shitcan those moving averages. They aren't doing anything for you that you might not have known anyway.

OldTrader
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Should I waste my time posting the visual ?

Are you blind ?

Or are you just pulling my leg ?

I seriously hope it is the latter.




Feel free to start sharing your profitable es trading strategies with us.
 
Quote from Pekelo:

How could I? Look what a beautiful bounce:

16lh346.png
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Post a chart of those bollinger bands on a trend day.


:D
 
Quote from volente_00:

Post a chart of those bollinger bands on a trend day.
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You can use BBs for signaling outbreaks too, but hey, that will be published in my upcoming book. :)

From Chapter 12:

"Generally, 2 same colored consecutive candles touching the BB means continuation of an outbreak."

Can you see the 2 times when there were such occasions on Aug 6th?:

10qewy9.png


But I am getting offtopic...
 
Quote from Pekelo:

You can use BBs for signaling outbreaks too, but hey, that will be published in my upcoming book. :)

From Chapter 12:

"Generally, 2 same colored consecutive candles touching the BB means continuation of an outbreak."

Can you see the 2 times when there were such occasions on Aug 6th?:

10qewy9.png


But I am getting offtopic...
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Can you post the same chart and bb's for aug 21 and aug 25.

Or for a trend day when the largest retracement is ~3 points.
 
Quote from volente_00:

Should I waste my time posting the visual ?

Are you blind ?

Or are you just pulling my leg ?

I seriously hope it is the latter.




Feel free to start sharing your profitable es trading strategies with us.
More...

Let me help you out. I wouldn't spend too much time away from your reading....StockMarket 101.

Now, like I said, look at your moving averages at 10:40. Moving averages moving straight up. Exactly the time you should have been selling. In fact, if we go back and review your posts today, you called selling today "pure luck". Remember that post Volente?

I've posted a variety of trades over in the ES Journal Volente. Perhaps we need to see YOU post a RTH trade. Instead, all I see out of you is hints as to what you might be doing. LOL.

Tell you what Volente, let me make this real simple for you. Tell me where you would have sold today, using the R10 strategy, with full benefit of hindsight at your disposal. There's only one rule: you can't post a short that is above both of YOUR moving averages. Go ahead...I'm waiting.

OldTrader
 

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