Rule of 10 Journal

Here's how you said you used moving averages:

Your words, not mine.

By the way, where's your short using the chart? Use hindsight to tell us where you would go short.

Just make sure you use your moving average principle when you do it.

OldTrader

 

Don't change my words around.

First chart....price dropping, moving averages headed down. Second chart at 10:40, price rising, moving averages moving up. Similar situations, except in reverse....I know it's complicated for you....but try to see the similarities.

At 10:40 the chart didn't look any different than it did yesterday, in reverse.

As you said, anyone who sold at 10:40 had "pure luck". Do you need a link to your statement?

By the way, I posted a chart of today's action and your moving averages. It was clear, unlike yours.

OldTrader

 

I could but it is kind of offtopic here. Aug 21 had the buy signal around 14:35, the next 3 candles went higher, Aug 25th had a sell signal at noon, the next 4 candles went lower.

Anyway, getting back on topic, overnight 72.5 would be a sell signal, right?

Edit: I will post the chart of July 1st, because that is a beautiful example of the same colored candles outbreak
just right before 2 pm:



(also the 3rd candle after noon, a sell signal)

P.S.: If you are interested more, we should start a new thread about it...

 

so when bb's are contracting like they were at 1272, how do you decide that that was not a buy? Are you looking at where the williams and rsi level is to choose entries and exits ?

 

Oops haha typo, thanks.

 

Haha thanks.

I'm going to keep it simple for now, but forgot about asking my broker to cancel out when he gets in if I'm executed one way.

I d be afraid he might mess it up or worse call me when i m sleeping

 

Thats fantastic! Thanks for sharing. I guess that is what I will aspire to on my current setup

 

Based on the "hard10'" rule 72.50 was a sell ,s/l 75.50

I am not going to trade it as I could up all night just to wait for a "confirmation'"to enter, which just may not happen...

 

Volente -

Just an observer here (reading your "discussion" with oldtrader) with a question on using the MAs as a filter. Are you saying NOT to take a r10 long when the fast MA is below the slow MA, and vice versa for short?

It would seem to me that after a r10 move down (i.e. looking to take a counter-trend long looking for a 6-6.5 reversal), the fast MA is always going to be below the slow at that point, and would always prevent an entry if using the MA relationships as a filter.

Perhaps I'm misunderstanding how you use the MA relationships to avoid losers on trend days.

Thanks.

Sandy

 

This already moved 9.5 points off the reaction low and had a pullback.

I'm seeing 78 area from 68 for the next short.


This area also coincides with the 50% retracement.