Rule of 10 Journal

Would that be 75.50 limit, 75.25 limit, or 74.50/76.50 limits?

 

Either way , 75.50 limit or 74.50/76.50...the latter being the more practical (that I have just come to realize).

 

Thanks.

I know that's volente's method, but I wonder how one gets around the problem of being double-sized more often on the trades that stop out.

 

If I can show by example, my 74.50 would be stopped @ 77.50 and my 75.50 would be stopped @ 78.50...as for me adjusting my stop after +3 potential profit , I would treat each independently....of course others my have a better way..

 

Ok thanks. I guess that is protection when it only goes past the normal 3pt stop by an extra pt, then comes back and hits your target. However, the ones that stop out decisively (5 pts or more) ... you will still be out double size compared to your single entry trades - i.e. when you take less than 2.00 heat on your 1st entry (@ "r-9").

 

My mistake ...should read "76.50 would be stopped @ 79.50"...not 75.50..

 

My belief is that jagmot would have taken a 10 point profit just now had he been long (which I believe he should have been). LOL. Just my opinion though. Obviously I don't know jagmot's technique like he does.

OldTrader

 

75.5 entry is live now, up 2.5 pts

This journal reminds me a community blackbox where only trades got executed when all 3 traders have pressed the buy/sell button.

We could call it the "Elitetrader's got Talent" blackbox...

 

The 75.50 entry would have the s/l adjusted to 75.50.

 

I'm confused I got so much going on that perhaps I missed something.

I didn't use the reaction high in the area of 1275 because of three spots 3:00AM, 4:50AM, and 8:30 EST 5min bars.