Fair enough, profit is a profit.,,,I am personally 1/16 s/l 92.25 ..1/16 free wheeling to reverse BUY signal...probably around 94.50 /95.00 if it gets there....looking forward to approx 74 though...
I think these guys are using 5 minute, 24 hour charts. So based on that there were 2 reactions down to about 1283 between 7-9 CST. This then gave an upside entry of 1293. At least that's how I would look at it. That low of 1282.75 on the RTH chart is actually one of those reaction lows from the 24 hour chart. I think using the RTH works pretty well. But the 24 hour chart would give you some additional detail. For instance, there may have been a short at 1287 around 7 AM CST. This basically only gave a few points, and would have been stopped out. If you had moved your stops, which some of the guys do, it would have been a break even I suppose. I'm no expert with the method, but I think the above is essentially correct as I see it. OldTrader
No, based on Bollinger play. Obviously a 87 exit would have been better.... Actually 89 was the Williams signal and we didn't hit the Bollinger until 87...
I see. Just an opinion, but it looks to me like the rule of 10 is doing well all by itself. It doesn't look like it needs help from the bollinger band. That bollinger band probably would have got you out of what turned out to be a very successful long trade yesterday. Keep in mind I know next to nothing about bollinger bands. LOL. OldTrader
Thanks OT. To clarify, I do use 24-hr exlclusively. I just used the "RTH" reference to simplify identification of the low in question. That 82.75 low would be the one I normally use for r10 plays; I only brought up the higher low of 86.50 to see if anyone was even considering raising their entry. I was sort of fishing for people's thoughts on specific criteria for moving the "start line".
Well, yes. My approach was since I had 2 contradictory strategies/signals, to get out with a profit but not get in with the new signal. Looks like the R10 (and the unfilled gap) was the stronger one... Question is: Would the 1283.75 be the next long signal?(and I guess an exit from the previous short)
I think this is where your discretion comes in. I think you're going to find that there will be various wiggles along the way to the R-10 spot, which you could conceivably use to adjust your entry. The problem is that you can adjust yourself right out of an execution. There comes a time when you simply "pay your money, take your chances". I think exactly where that 10 point entry is has a certain amount of discretion. As Volente say himself, it could be 9, it could be 11. And again, there's the matter of those wiggles. OldTrader