Rule of 10 Journal

Discussion in 'Journals' started by jagmot, Aug 6, 2008.

  1. Pekelo

    Pekelo

    There was a new low at 39.75, so I change it to 49.75...
     
    #1021     Sep 12, 2008
  2. pekelo,
    are you using a 5min chart to recognize your reaction prices?
     
    #1022     Sep 12, 2008
  3. jagmot

    jagmot

    Yep it did get back there, but I used a new reaction high so my buy was at 32.50.
     
    #1023     Sep 12, 2008
  4. jagmot

    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?)
     
    #1024     Sep 12, 2008
  5. jagmot

    jagmot

    I recently switched from 5min chart to 512tick chart.
     
    #1025     Sep 12, 2008
  6. 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.
     
    #1026     Sep 12, 2008
  7. jagmot

    jagmot

    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).
     
    #1027     Sep 12, 2008
  8. jagmot

    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.
     
    #1028     Sep 12, 2008
  9. Pekelo

    Pekelo

    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...
     
    #1029     Sep 12, 2008
  10. jagmot

    jagmot

    Just got filled 55.25 (on ESZ8)

    Target 1 filled
     
    #1030     Sep 12, 2008