sellindexvol66 is a sore loser Ya, know, I hate it when tools that get their heads handed to them in another thread follow me from thread-to-thread trying to talk shit to me. Check your PM. ... and learn how to read too, I said I don't just trade the ES, I didn't say I don't trade the ES ... but then again, since you don't trade any of this, WTF would you know about it?
Lets see, the ES is @ 1274.75, that means according to volente_00âs three point stop loss rule (3.00) this is yet another failed Rule of 10 trade (big surprise, huh folks?). By doing what, taking ROT counter-trend trades that get blown-out like Decel's? LOL, the only one who believes your hype â¦. is you. Hell, B1S2 doesnât even want you posting your after-the-fact, cherry picking trades on his Journal anymore. All Iâve got to say is please continue the counter-trend Rule of 10 trades guys, youâre supplying a lot of loot for my trend trades. :-o) P.S. Thanks for posting your trade Decel, you totally proved my point. But in the future you might wanna try a good âol coin flip! :eek:
I am in the camp that all gaps in indices eventually fill. Intraday is strong, odds of fill in the 3 days after gap is strong.
Yeah, I understand your point. Volente can clarify, but my feeling was that he would be trading more than one contract (obviously,as there are 2 entry points) and that each entry is independant of the other, therefore would take a 3 point stop on each...on the other hand should the initial entry go 3 points his way and slide back to the initial price he kills the trade and the second leg doesn't play any role. My understanding for the 9-11 rule is to at least get in within a point of the proposed "10" trade and counter that with an entry a point beyond the "10" and set the stops accordingly. Should the entry be like today where his second go to 6975 ,as it did, he would adjust his stop to 7275...if it hits, his worst loss would be a net 2 points . Alternatively, he may clip a profit at the 6975 and let the other entry run...I don't know for sure, but that is how I may do it using the 9-11, which I like after making the adjustment for the price performance. Hope all this makes sense.
Pek , i do not average in. I use discretion to enter somewhere between 9 and 11 points, with the average being 10. I used to use hard 10 with a 2 point stop. I then changed to a 3 point stop to be able to take the 9 entry and still have the same stop out area as if I had taken a hard ten with a 2 point stop. By sticking to a fixed number, you miss trades that often run 9- 9.5 such as last night.