Rule of 10 Journal

Sufferrrrrinnnn catfish!!!

Knock out at 83.25.....time for a up of tea

 

I think the next trade would to go LONG@ 88.50 s/l 85.50 ; if you didn't stop after the last stop loss.

 

You meant 1278 yes. long entry....

 

Correction :should read 78.50 s/l 75.50...just struck..

 

Stopped again @75.50

 

I wouldn't have used that as an entry if I were playing the system. I would have used 74.75. 10 points under that last little rally. Just my opinion.

OldTrader

 

I know what you mean, however I was trying to follow Jagmot's "hard 10 rule"...personally I would have stopped after the first stop loss for the day.

 

On paper --

I went short at 1303 @ 719a cst
I caught the big move with a trailing stop of 3-5 pts
I got stopped out @ 1292.5 @ 925a cst.

My next long was 1287-- about nine points from
a reaction high @ 1010a cst. 1287 hit around 1107a cst
stopped out at 1284 1143a cst.

Thought about closing it up for the day, but placed a long
at 1274. This was hit 246p cst. Still in this trade trailing stop
3-5pts.

Using my own modified version of r10 has netted about 33 pts per
in the last 3 trading days.

thanks volente 00!!! (and jagmot too!)

1274 long entry came from the highs made from 1220-1240p cst
1274 was on my radar as an s2 pivot point as well.

 

Why try to catch the knife on a trend day ?

 

FWIW, a signal has a higher probability when it materializes around a multiple. Being that 74 was right near the 3 x 10 from 1305 area, it had extra merit. So has anyone figured out how to automate this yet ? Even if you do, you will not be able to do it fully