Rule of 10 Journal

ok. resting order at 81.25 short...3 handles stop...6 handles target

 

My point exactly. Trading is all about what works for you. Maybe my simple concept won't work for you.

 

You are being to greedy. 71 81 The .25s in between are just a cost of doing business.

 

Its not about being right, its about cutting losses when you are wrong (and you will be - its unavoidable). I'm going to assume Volente doesn't post his trades because any combination of these factors:

1. its tedious
2. little benefit
3. people bitch and don't believe you anyway
4. 90% of this strategy is money management ie stops, targets, and scaling which will vary from trader to trader (Volente's favorite book is Trading in the zone)

-Correct me if I am wrong, Thanks

 

I dunno...I just "saved" myself a tick...


short at 81.25....stop at 84.25

 

It seems that Tortoise took that lead from from Jagmont's opening statement where he used fractions...your point is valid , however we are trying to get a grip on this idea and would like an update from Jagmont.

Volente, were the results at 6 points and 8 points profits as strong as 10 over a given period using the 3 point stop?

 

You are correct and that short is now in play...I was reading it from the chart, that's why I got it wrong...

 

10:30

 

This is actually a valid concept. I have posted before where I call this strategy the 9-11 rule.

 

So here comes the discriminatory part, should you cover or should you let it ride? ES is at 1277.50

I would definitely move the stop loss to breakeven...