elovemer

SPX 39.47 high ................. 39..... 29 27.86 low ..................... 32.26..... 23.26 23.13 low ........................ 23.13..... 32.13 30.55 high ............................ 26.42 low...... 35.42

....i am not confused by your swing trade .... as much as i am by the way you described the basis for the trade..... shorting at a support level.... ..... but now i see by your chart that you seem to consider the levels (in between) as POSSIBLE support .... so it looks like you shorted as you felt price was headed down to your next support level ... the most i can make out from what you have described is a swing trading range of support and resistance based on ten point levels.... .... very interesting and thanks for taking the time to make up that chart.... ..... obviously what you are doing and what i am doing are not very similar.... .... swing trading versus intraday trading.... ..... that's great..... .... hopefully other traders can contribute their own methods of using rules of ten as well.... .....this is nobody's thread.... and so anything based on ten point levels fits .... if i want to start another thread to include only the intraday application of rule of ten i can do that.... ... what i am doing is trying to take all signals generated by any ten point move.... .... the signals i don't want are those which go against the direction of the trend.... when i feel that a strong intraday trend is in place..... .... since the rule that i am using.... is the basis for a counter-trend trading system .... when i feel that there is a strong intra-day trend in place.... i would rather fade my system by taking trades in the direction of the ten point moves..... rather than against that direction.... ..... often.... fading the system simply means staying out ..... since... by the time it is obvious that a strong trend is present, it is too late in the day to get on board in the direction of a half-way completed ten point move which may already be the 2nd or 3rd move of the day ....by the way ... the system i am using is not my own....i did not invent it.... ... i am attempting to use it as was described by its inventor....

... i would like to learn how others are using their different rules of ten..... .... so what is your rule ? .... if you don't want to explain it... that is fine.... ... this is not my thread..... .... just trying to learn.... thanks

no trading today for me.... friday .... at least none posted ... but the trades would have been ... from 38.75 .... 28.75 long and from 31.75 ..... 22.75 long obviously the 2nd trade was a better one rth short would have been 28.5 low pivot from friday ..... short at 38.5 .... but i would not take it because of the gap .... ... that one would have been the best trade by far.... this is a very simple rule ... the way i am using it.... .... i have no idea how others are using it.... .... but undoubtedly there must be many ways to use it....

.... there is no correct or incorrect..... ... everyone has a different system.... .... what rule/system are you using ? ... i still don't get it.... thanks elo

... did not take the signal at 36

.... from 20.5 .... the play was to short 29.5 or 30.5 ... with stop at 32.5 ... however the retracement to 24.5 threw me off ...then my play was to short 23.75 which was 9 points above 14.75 .... however.... i failed to place a reversal order ... the next play... which i did not take.... due to being counter trend to the (now known) trend.... ... was to short ten points above 21.5 which was the low pivot .... this would have worked.... if there was no strong trend in place already.... ...as it was... the goal was to try to enter with the trend ....rather than against it....that means a departure from rule of ten entries... ======================================= edit.... ....until i am shown otherwise..... .... the system i am using has nothing to do with what Mit is using.... ... what i am doing is simply long 10 below high pivot and short 10 above low pivot ... with a distinction between AH and RTH signals

... is this your rule of ten ? you are saying that if the high is 1038 .... you want to short ten points below the high ? ...this looks like the complete opposite of what i am using.... ... i am looking at the day when the high was 1038 on ES .... ... the rule i am using tells me to go long at 1028 with a stop at 1026 ... while the rule you are using tells you to short instead of long.... ... what exactly is your rule of ten ? thanks elo

.... you lost me.... ... i have no clue as to how you are applying the rule of ten.... ... what is the rule of ten .... the rule of ten that you are using ? ... it looks like the rule you are using and rule i am using are completely different.... the rule i am using is long ten below high pivot.... short ten above low pivot.... .... are you using something similar to this ? thanks elo

edit.... i should have reversed .... trend is up ..... did you choose your entry based on rule of ten ? if so .... how ? thanks ................................ First target hit (1018). Se

stop moved to high pivot at 24.5

i guess i was asking how you were applying rule of ten to your entry .... ... i think i still don't understand ... . but anyway... nice job on hitting your target spread betting...that's interesting ..................................... First target hit (1018).

from 14.75 ...to short 23.75 .... stop 26.75 ... feels like i am going counter trend here

... mit... ... i don't understand your play here.... ....you said the rally ended at 37 so you are shorting ten point below 37 ? i don't get it.... ... if it was me .... i would enter an order to short ten points above the low pivot .... not ten points below the high pivot.... ...did you mean you want to GO LONG ... ten point below the high pivot ? ..... and what do you mean by "cash" ? are you trading ES ? or spy or what ? thanks elo

25.25 pivot after 31 high pivot order to short 34.25 cancelling order at 33.5

...will cancel this ... if there is a gap at the open.... ..... and will start count from the gapped open

... price hit 29.25 .. and i was not filled ... then it went 5 points down..... ... if i was in the trade... i would consider taking half or full profit at 5 points gain.... ..... likewise.... i start the ten point count over from there.... 24.5 ....33.5

entering order to short at 33.5 ..... stop 36.5 edit... ... am not short at 29.5 edit...... price now at 26.25 ... maybe should have left the order standing..... .... but according to my rules..... the pivot at 24.5 was too big .....

it is 8.30am now .... cancelling the trade.... because of the last low pivot at 24.5 edit sorry... it was a little before 8.30am .... price just hit 31 ...................................... ... AH trade.... i prefer RTH trades.... so only half size ... from 20.5 ... order to short 29.5 ... stop at 32.5

....as an aside.... TL's servers are pitifullly slow..... ... if they ever want to compete with the joke which is ET ... they will have to get faster servers.....

.... if it is paper trading.... it doesn't matter.... just treat it as real trading.... .... that's the only way to learn anything is by doing..... ... AH trade.... i prefer RTH trades.... so only half size ... from 20.5 ... order to short 29.5 ... stop at 32.5 approximate time of order entry .... 4 am .... i will be using 3 point stops... 9-10 pnt signals.... .... prefer doing half at 9 and half at 10 pnts..... ... ... i am using ES only..... .... although NQ, TF, YM will also work....

...come on ... don't leave me hanging....

.... every time i talk about posting actual trades.... i get no response.... ... why is this a bad idea ? ...the rule of ten is simple enough..... what's wrong with this ?

.... how about this idea ? ...everyone contributes their own entries, exits, and stops...

...ES high was 1027 ... for RTH signals only .... i don't take it unless there is no gap from the previous session.... .... if there is no gap on monday .... then the long would be at 1017 long ...stop 1015 .... or 1018 long .. stop 1015 --------------------------- ...if there is a gap ... then would take a long ten points below the high after the gapped down opening.... .... in the same manner as above.... ... i consider AH signals as separate from RTH signals....