Rule of 10 Journal

Discussion in 'Journals' started by jagmot, Aug 6, 2008.

  1. Taken a trade SELL@ 73.25 s/l 76.25
     
    #581     Aug 27, 2008
  2. Pekelo

    Pekelo

    I would cover here with 4 pts gain, making my kind of trading of the strategy this week:

    -3,-3, 4, 0, 3, 4 (noting that the 0 trade went in the money by 3 pts twice...)
     
    #582     Aug 27, 2008
  3. Just took profit 70.25 mit for 2/3...1/3 adjusted stop loss 73.25..free wheeling till get "buy".
     
    #583     Aug 27, 2008
  4. it's kind of interesting to me that volente noted 6 to 6.5 pts on profits, and the first leg down from the AH H today was 6 points.


    Now is Now,
    did you wait for a failure swing to put on that short?
     
    #584     Aug 27, 2008
  5. I'll help you out here....I'll stop posting in this journal. R10 is not a technique I trade with. Nor do I use moving averages.

    That said, I don't think it can be said too many times....there is an inherent conflict between the R10 methodology and moving averages. And there has been nothing said in this thread that has explained away that conflict.

    Good luck to those trading with this strategy.

    OldTrader
     
    #585     Aug 27, 2008
  6. yes...it is based purely on price performance with a given parameter...it simply prevents me getting caught on a "rocket" or "falling knife" that doesn't know how to stop.

    It is unlikely that many of my trades will ever see a 10 point profit,but 3 + is fine...

    Incidently , just got stopped on s/l adjusted 73.25...net + 2.5 profit for trade.
     
    #586     Aug 27, 2008
  7. Pekelo

    Pekelo

    If it keeps going up, the next short entry is 79.5...

    Edit: we are in....
     
    #587     Aug 27, 2008
  8. Ok 79.50 is up and running based on "hard 10 "rule s/l 82.50.
     
    #588     Aug 27, 2008
  9. My trade has come "late" SELL 76.50 S/L 79.50...just as Pekelo is probably taking some profits gets out , I'm going in...:mad:

    This trade also highlights the implicit vulnerabilty of the system, but for me to get knocked out the price performance has do a complete reversal....there is nothing that says it won't...

    Like any trade, we have limited control of the outcome.
     
    #589     Aug 27, 2008
  10. Pekelo

    Pekelo

    Taking 4 pts gains at 75.5...

    The reason for getting out is what I call the FMB, future middle bounce, when price bounces from the middle value. It could still go through it later, but that is a good point to take profits...
     
    #590     Aug 27, 2008