Rule of 10 Journal

[jagmot]

Quote from Pekelo:

had to be away for a few hours...



Nothing. I said I wouldn't be surprised if we didn't. But I did miss you posting a short.

Jag, shouldn't there been a long entry around 44.25? It would have been a loser though...

Edit: I see you canceled it, what was the reason?

I used a new reaction high of 48.50.

 

[jagmot]

Quote from jagmot:

Just made a trade error, thought I had canceled out an order to buy at 42.50 (for a buy at 38.50) Heard it execute while I was getting a drink. Came back closed it out immediately and got lucky as it was up a point... +100.

I am including in trading results because we would include trading errors that went against us.

Bracketed at 38.75 and 52.00

Edit: Corrected brackets

Took this trade and got stopped out. Done for the day. -50 + commissions. I ll post an update tonight on the system.

 

[Pekelo]

Quote from jagmot:

Done for the day. -50 + commissions.

Well, I think you missed (why?) the big 59 long in the morning and that was a 10 pointer.

Now 33.75 long would be a valid entry..

Edit: Probably early, but let's take this 3 points, just in case...

 

[Decel]

Quote from MandelbrotSet:
By doing what, taking ROT counter-trend trades that get blown-out like Decel's?

Counter trend? Did you see today's action?

All I’ve got to say is please continue the counter-trend Rule of 10 trades guys, you’re supplying a lot of loot for my trend trades. :-o)

So then I'm supplying you negative income? I'm all for it

P.S. Thanks for posting your trade Decel, you totally proved my point. But in the future you might wanna try a good ‘ol coin flip! :eek: [/B]

I don't know what your point is, but happy to help. As for the coin flip, I'd rather answer by "no thank you". I'm doing fine as it is. Why don't you use the coin flip, since you're suggesting it??!?

 

[Decel]

Covered my 1271.50 short @ 1260 the first time it showed up.

I wanted to, but hesitated shorting again when 1268 showed up. Missed the whole action

 

[MandelbrotSet]

Quote from Decel:

Covered my 1271.50 short @ 1260 the first time it showed up.

I wanted to, but hesitated shorting again when 1268 showed up. Missed the whole action

That's OK.

You can just add plus/(minus) 2pts to the Rule of 10 and then you'll be set (tenth addendum and counting ...)

 

[volente_00]

Quote from Pekelo:

had to be away for a few hours...



Nothing. I said I wouldn't be surprised if we didn't. But I did miss you posting a short.

Jag, shouldn't there been a long entry around 44.25? It would have been a loser though...

Edit: I see you canceled it, what was the reason?

Nothing ?

Was this your alter ego posting ?

Quote from Pekelo:

About gaps: You always have to watch all 3 indeces. The Nasdaq did close the gap yesterday (also made a nice doublebottom with RSI) and the SPX also closed about 85% of the gap, which is pretty good. A 5 pts gap left, but we could rally up leaving that behind for a few weeks returning to it in October....
The point is that the force to close the gap is not as strong as it seems...

(after all we have a gap at 1320 waiting for 3 months now)

 

[MandelbrotSet]

Quote from Now is Now:

Quote from MandelbrotSet:

Lets see, the ES is @ 1274.75, that means according to volente_00’s three point stop loss rule (3.00) this is yet another failed Rule of 10 trade (big surprise, huh folks?).

Unfortunately , you were a little too quick to prejudge Volente on this trade...He apparently uses the 9-11 method of entry..9 being 70.75 11 being 72.75.

The second leg is alive .

Hey V, since I see you're still cheerleading this thread to nowhere how's about you take me up on my little bet .. eh?

Yep, thought so.

 

[volente_00]

5k ?

LOL

No wonder you still work at the convience store.

My commissions on each trade are more than your daily total on a good day.

Keep dazzling us BSD.

Quote from MandelbrotSet:

Total for 01/29/08: $138.50

 

[Pekelo]

Quote from volente_00:

Was this your alter ego posting ?

Last time I checked, the word "could" was used. Don't get hung up on the small details, though...

Getting back to topic, my 4 trades that I would have taken including the automatic overnight were:

3, -3, 7, 3... 10 pts with 4 trades, not that bad.

Also today was a Step Down Day, and the play is to go long at the close and hold it overnight, but this is offtopic here, so let's not indulge in it....