Rule of 10 Journal

From a personal point of view, I thought there was a trade BUY at 76.25 -10 from Wed high 85.25 under the 9-11 model,(my PP @78.75) which would have have been dumped @ approx 82.50 before the report.
 
My next short would be 90.50 from the morning plateau low, but I am not going to take it because I expect a rally day....
 
yet again you can adjust rules constantly that make any rule or way of trading appear to work. some days on the rule of 10 we use highs and lows from the after hrs but other days we use reaction lows from the previous days official hrs trading day. we basically use the rules that in hind sight worked. thats the problem with "hard" systems. trading changes all the time and one must change with it and thats why a hard system is just yet another piece of the puzzle. in addition human emotion is a huge part of trading and thats why most mechanical systems fail. for instance if you use a concrete rule of 10 system and you get stopped out 5 times in a row the chances are great you'll start doubting yourself and tinker with it .
 
Quote from volente_00:

My apology, I majored in economics, not education.
You can take the signals, but if it is a trend day and you are taking the signals against it, then the retracements will be shallow so you can not expect to have large point gainers from fighting the trend. By knowing this one can adjust their targets depending on if the signal is with the trend or against it. If against, there is a high probability your stop will get blown after the shallow retracement, if you signal is on the side of the trend then there is a high probability that you can trail the stop and turn that trade into a much higher point gain trade.
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Thank you....now that makes perfect sense.
 
Quote from Pekelo:

My next short would be 90.50 from the morning plateau low, but I am not going to take it because I expect a rally day....
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I understand your point of view...if there is abenefit to my PP is that I am trading with the confirmation that the market is either weak/stonger ,by reversal, of the existing position....

So in effect, the market (PP) has to do a complete reversal again for me to get knocked...and it can happen..

For instance , I should got a SELL @89/25 s/l 92.25. I will do my usual Buy286.25 mit for 2/3s.
 
Quote from Now is Now:

I understand your point of view...if there is abenefit to my PP is that I am trading with the confirmation that the market is either weak/stonger ,by reversal, of the existing position....

So in effect, the market (PP) has to do a complete reversal again for me to get knocked...and it can happen..

For instance , I should got a SELL @89/25 s/l 92.25. I will do my usual Buy286.25 mit for 2/3s.
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Knocked out 92.25.
 
Quote from smilingsynic:

Out half at 1903 (right under yesterday's high), and for the rest, the stop moved to 87.50 (under yesterday's and today's low), holding for 1925.
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Stop moved to 1905; still holding for 1925.

Stop moved to 1913; still holding for 1925.

Bear flag = move stop to 1915; still holding for 1925.
 
Quote from smilingsynic:

Stop moved to 1905; still holding for 1925.

Stop moved to 1913; still holding for 1925.

Bear flag = move stop to 1915; still holding for 1925.
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1915 out.
 
Now then based on the 2x10 rule there would have been a short @ 95.50 s/l 98.50....9-11 94.50 s/l 97.50 ..96.50 s/l 99.50

All are in play.

I'm out for the day as I had an earlier loss...my PP has yet to confirm this trade.
 
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