Rule of 10 Journal

Quote from volente_00:

WAIT = CHASE
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I understand you point, however, and if I can use yesterday as an example, it saved my butt on at least 2 occassions...

So in affect I am bastardizing the "hard 10" system, but then again we are all using different exit points and strategies to keep the trade alive/close.
 
Quote from volente_00:

Looks like a lot of over trading.
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Looks like hindsight. :)

Seriously, it would be better if you could comment beforehand. On the other hand using the same entries as Jagmot I would have ended up positive yesterday (both trade #2 and #3 went in the money and there was an exit signal), but of course one has to watch other indicators too. Nothing is wrong with taking 2-3 pts, several times that's all what the system gives. I ended up with 12 pts last week and I never had a nice 10 pts gainer...

I agree with the huge gap and the possibility of filling. That's why he should have taken smaller gains. It will be interesting to see different exits and I will be posting them real time....
 
Quote from Pachoo:

Jag, could you please tell us your cumulative stats to date using this system?

Thanks.
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I just did above. Previously I was papertrading the system.
 
Quote from volente_00:

Looks like a lot of over trading. The 1301 was good, but ignoring what the 9/18 ma was saying and ignoring the gap underneath is not. You will never see me take a long above on a gap up or a short under a gap on a gap down. As a fader you have to understand this rule and how it figures into mean reversion in the ES. YOU ALWAYS WANT TO BE BUYING DISCOUNT AND SELLING PREMIUM IN ES IN RELATION TO CASH CLOSE. Sure there will be days where we gap up or down and just keep trending, but they don't happen often and when they do it is better to just sit on your hands and wait for the next opportunity to arise to exploit instead of catching falling knifes or chasing.
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There are going to be trend days and I'm going to get beat up. However, I have not yet done anything like the 9/18 ma to guard against this. Currently I just use 2 full stop outs.

Its funny because both Pekelo and I both thought it was a trend day (up). If that was the case, we would not have taken the short.

Remember this is a small account for me (and I also just happen to be short in my other trade posted in ES) so I will be ok :)
 
Quote from Now is Now:

Hope you were in on this current trade , Jagmot.
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Nope unfortunately not, I was asleep at the time. I would have hit target 1 on a long.

I'm going to wait until after Factory Orders at 10AM EST is released before I setup the next trade.
 
ok ...so I got my SELL 2/3 7500 adjusted s/l 7200 for 1/3...those 3 point profits make life easier...

Without letting the cat out of the bag....I been using 9/18 ( 4 minutes) for quite a while for other trades and that is one of the reasons I use my "wait" confirmation, because I am essentially going against the current trend offered by 9/18.

Essentially, I am a trend follower for which I make no apologies....nor does my wife and kids:D
 
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