Yep we just got "bowled over" 2 trades both stopouts -6.5 5 of 12 +27.25 total points Stop trading for 24 hours per rule.
That is how I see it as well.....maybe we are getting some consensus on these +10/-10 signals ...not difficult if we are all on the same page.
the rule of 10 worked perfectly today...just touched 1300.75 at a 10 point "level hit" and retraced a good amount...those looking at this rule would have netted it...also...at that exact time when ES hit 1300.75...Oil and Currencies reversed... also...any stats on what % of time does the ES retrace after it goes exactly 10 points in one direction from that pivot...?
it did NOT work out "perfectly today" as it got stopped on the first 2 trades...as for your question I don't understand the premis "exactly"...
I used to trade my style looking for 10 exactly with a 2 point stop, i then modified it to look for 9-11 or 10 average and changed the stop to 3 points, this gives you the chance to get in at 9 on the move and have the same wiggle where if you were in a 10 with a 2 point stop. My stop is always 3 points from entry.
Re: LOL oe says 1280 to 1300 +- 5, burned them shorts today 08-13-08 08:07 PM Should I dare go into the subject of using option interest when trading r10 ?
How do you determine when to enter the trade using 9 to 11 points? How do you use a spread like that? The way Jagmot has it set up you enter with a stop order at 10 points. How do you enter the trade? What influences your decision as to whether you enter at 9 points or 11 points or somewhere in between?