Rule of 10 Journal

I got a long at 45.25 waiting and then a short that i ve been dragging down currently at 57.75

 

Long filled

1245.25
Stop 1242.25
Target 1 1251.25
Target 2 1256.25

Full stop out, 2nd in a row. Wait til 1 hour after close to start trading again.

 

Shouldn't the signal be adjusted to 42.75?

 

Volente will be on here soon saying that there shouldn't be any longs due to the 9/18 MA.

 

Possibly but I was trying to count the whole move from the 8:00AM 5min bar vs. the 8:20AM 5min bar.

 

Yes, I almost copied his post on that issue earlier today. However, I still don't get the distinction between which R10's are considered "counter-trend" and which aren't ... seems to me most 10pt moves align the 9/18 against you when you fade them.

Volente obviously has this aspect figured out.

Edit: all that being said, at this point we have an obvious trend day with only small p/b's and no major MA crossovers ... low odds for fading.

 

Therein lies one of the quandries.

 

And one of the reasons we can't automate.

 

I just got back in from an appointment. Anybody take the 35.75 long after a day like today?

 

I was planning on taking a long from after hours high but was away from the computer. That setup would have been stopped out.

I got saved at least this time by being away.

Have a long setup now at 1225.75 and short at 1238.25