Hi guys, hope you are having a good Friday, weather is amazing here, sunny, 70, perfect.
Anyway regarding the open long trade for the SPY Trend/Pullback sub system, we went long the SPY ETF on Wednesday as well as the SPY Call option for July 16th 393 strike price.
I have elected to close out the option trade, which is nicely profitable, but keep the SPY ETF portion open with a stop at entry - this ensures a profitable trade because we are closing out the option nicely profitable.
you of course can elect to do what fits your style. The aggressive exit SPY Trend/Pullback system is exiting fully at the close therefore if you wish to follow that you should go ahead and close. The original SPY Trend/Pullback system will remain long, and while the trades are generally more profitable it has added risk, which is why I elected to place a stop on the position.
enjoy the rest of your Friday and have a great weekend!
Matt