Rule of 10 Journal

Quote from Pekelo:

No you didn't. It went back to 35.75 TWICE after being up 3-5 points. Curently at 42....

Next short is 47.5...
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Yep it did get back there, but I used a new reaction high so my buy was at 32.50.
 
Quote from Pekelo:

There was a new low at 39.75, so I change it to 49.75...
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I dont see that but I do see 40.75 as the low, so my sell was at 50.75. So far not hit. (I'm on ESZ8 have you switched over yet?)
 
jagmot,
I saw that post about your switch to tick chart, but how exactly are you defining a reaction Low. I am asking about a reaction low due to today's PA.
 
Quote from vertigo3:

jagmot,
I saw that post about your switch to tick chart, but how exactly are you defining a reaction Low. I am asking about a reaction low due to today's PA.
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Today is a more difficult day because of multiple reaction highs/lows. Yesterday, I don't think there was much disagreement on trades. Today I missed what looks like a very good trade.

I think it is really up to the trader to decide exactly for themselves. I'm a coservative trader so I kept moving my bracketed orders.

What I'm looking for in a new reaction is something that is not retraced (or at least not very much say more than half).
 
Quote from jagmot:

I dont see that but I do see 40.75 as the low, so my sell was at 50.75. So far not hit. (I'm on ESZ8 have you switched over yet?)
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Filled short, almost immediately stopped out.

Looks like a gap fill that V has warned to watch out for. That's ok though...can't win them all.

New short at 55.25. I'm looking at it now, I probably should not have taken the previous short as we had two reaction lows. I was a little anxious to take a trade after missing out on the previous one and thought a round number like 50 would work. Bad discipline on my part.
 
Quote from jagmot:

(I'm on ESZ8 have you switched over yet?)
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Not yet, only on Monday. SL got hit, not very lucky today figuring out the entries. From the LOD the short at 43.5 would have worked for 3+ pts and just when I moved the next short to 49.75 the previous one at 47.5 also would have been good.

The last low was around 42.75 and this 52.75 looks promising...
 
Quote from jagmot:

Filled short, almost immediately stopped out.

Looks like a gap fill that V has warned to watch out for. That's ok though...can't win them all.

New short at 55.25. I'm looking at it now, I probably should not have taken the previous short as we had two reaction lows. I was a little anxious to take a trade after missing out on the previous one and thought a round number like 50 would work. Bad discipline on my part.
More...

Just got filled 55.25 (on ESZ8)

Target 1 filled
 
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