Rule of 10 Journal

[Now is Now]

Quote from Now is Now:

Ok SLD 1825 mit..s/l adjusted 1525 1/3...would love a good kicker .

Stopped again @ 1525...net+275.

 

[Pekelo]

Quote from Now is Now:

.. who made a good prediction

3 very accurate predictions in a row. But otherwise you are correct...

Anyway, the overnight automatic had two 3 pts gainers. Longs from 1217.25 and 1214...

 

[jagmot]

Quote from Pekelo:

I didn't see any high at 40.5. What time was it? But it proved to be a good entry, and I think you should have taken that 3+ while it was still up...

I was looking at a tick chart, thought I was looking at the 5min. My bad. Anyways got stopped out on this trade.

 

[jagmot]

Quote from jagmot:

I'm leaning towards 3pt target then 5pt trailing stop (no target) vs. the first system. So if 3pt target is hit then initially stop would be -2 and worst for the trade would be +1 overall (minus slippage/commissions).

I'm going to change the strategy to the above. Having a 5pt target has not been a benefit as I intended and has actually been a detriment to the system.

With the ES contract rolling over today, I will be using the strategy on ESZ8 going forward (this will help for easeness in tracking the new methodology).

 

[jagmot]

Quote from jagmot:

I'm going to change the strategy to the above. Having a 5pt target has not been a benefit as I intended and has actually been a detriment to the system.

With the ES contract rolling over today, I will be using the strategy on ESZ8 going forward (this will help for easeness in tracking the new methodology).

First trade, Short 22.25 (on ESZ8). Stop 25.25 1st target 19.25 and then trail stop for open ended target.

1st target hit, trailing 5pts for second target.
2nd target stopped out for -.75.

 

[jagmot]

Quote from jagmot:

I'm going to change the strategy to the above. Having a 5pt target has not been a benefit as I intended and has actually been a detriment to the system.

With the ES contract rolling over today, I will be using the strategy on ESZ8 going forward (this will help for easeness in tracking the new methodology).

So that we can see reaction high and lows better, I will be changing over from a 5min chart to a 512tick chart.

 

[jagmot]

Quote from jagmot:

First trade, Short 22.25 (on ESZ8). Stop 25.25 1st target 19.25 and then trail stop for open ended target.

1st target hit, trailing 5pts for second target.
2nd target stopped out for -.75.

(This trade would have just been stopped out in full if we had used the original 5pt target)

 

[Now is Now]

I will not be taking the ensuing trade I want= SELL @ 2225,(1225+10)...am still waiting for a confirmation even though it has struck 122800...have to go out.

 

[Pekelo]

1226 was the next short, so far so good.... Jagmot, did you miss it?

I mentioned this reload idea earlier, but nobody commented on it. Just like with this 1226 short, the trade goes in the money by 2-4 points, then goes back to the entry level. Taking the first few points gains quickly and reentering at the same level (like a no risk trade) would have worked out a few times last week.

Edit: At this example the second return to the entry and above hit the stop loss, so with the reload idea, a breakeven...

 

[jagmot]

Quote from Pekelo:

1226 was the next short, so far so good.... Jagmot, did you miss it?

I mentioned this reload idea earlier, but nobody commented on it. Just like with this 1226 short, the trade goes in the money by 2-4 points, then goes back to the entry level. Taking the first few points gains quickly and reentering at the same level (like a no risk trade) would have worked out a few times last week.

I have traded like this, but haven't tried it for r10.

I had 1232.50 as the next short but it didn't get hit.

Edit: 1233 even.