I am still in the SPY trade not thinking about it much when it is time to exit I will exit and wait for the next trade

Matt how much weight should one put to exiting shorts EOD today based on tomorrows Ops expiration and the max pain number on SPY currently around 124

Matt, Steve or Tom - FYI: There seems to be no link for Today's newsletter on the newsletter page

I am thinking of switching from TDAmeritrade to another broker to have better options for automated trading then what SD offers.  Currently I am looking at TradeStation or
IB,  What recommendations does the trading community have here to these two automated trading platforms

Thanks for the help

I just got off the phone with StrategyDesk and there seems to be no way to automate these settings.  He said the program would need to be able to do a if/then caculation and currently SD is not able to do that.  He said that as the ThinkorSwim trading platform developes that this may be posible, but that will not be for several months.

I would appreciate comments if anyone is able to set this up in another trading platform.

Nice improvements, thanks for sharing.  Anyone have any ideas how to write this formula for SrategyDesk for these changes?  I have a few ideas how to write it but need some help, I plan on trying to call Ameritrade this morning and see if they can offer any help.

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I have been using the SRS#2 trading system with pretty good success; however, I do have an issue I am trying to work out with the automated part of this system using StrategyDesk that I hope someone here can help me with.  I have not been able to figure out how to write the formula to not enter the trade until the close of the current candle, instead my formula enters and exits upon the first time these MA’s cross.  On Wednesday there was a whipsaw that took me out and reversed my position, in reality it was a spike down on the open that caused this to happen, the next 15 minute candle was a strong move in the other direction to cause the MA to appear as if they never crossed (if you look back at a chart of this now you will see where the MA’s came close together but never crossed, however in reality these MA’s did cross momentarily).  Because of this the stop on my automated system did not activate my reversal position (I was then long URE with no stop (not good), which was the wrong direction for the way the MA’s were trending) for the whipsaw.  I am often busy at work during the day and cannot look at the market and on Wednesday did not get an opportunity to look at the market until about an hour before the close so I was unaware that I was in a position opposite the current trend, at this point the trade had gone against me by about 8%, of course I immediately exited taking the hit.    If I had been watching live I doubt I would have exited the long SRS in the morning on the whipsaw and gone short as the automated system did because the cross did not exist upon the close of the candle.  I have not been able to write a formula in StategyDesk that does this; instead the formula just enters and exits upon the cross, which most of the time works.  I think a work around on this might be to set a maximum percentage loss into the formula.  Of course if the maximum percentage loss triggered in the above scenario as happened on Wednesday it would not reverse the position but instead leave me in cash missing the strong move up but that would be better than the draw down I saw Wednesday.  Does anyone have a formula they are using in SD that acts upon the close of the candle?  I talked with Ameritrade about this and they say the best I can do is set an offset, however I have found this to be problematic as well.

Thanks for including the links to the live charts for the indicators.  Often I spend time recreating charts that you have in the newsletter so I can watch them during the day and with these links it saves me from having to do this or trying to find where you might have posted them somewhere else on the website.

Good job

Steve I appreciate you numbering the charts in the newsletter, this makes it much simpler to follow along and also to make notes as to which charts to pay special attention to during the day.  Again thanks for your help.

Thanks, yes my automated system entred today as well (I use strategydesk) however it reversed at 1545 which I do not see why it should have.  The averages on stockcharts were not even close to crossing back down.  I am trying to get TDAmeritrade to reverse this exit and entry short, but so far no luck with that.

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Did the SRS #2 swing system trigger long this morning.  I show it did and at the close they had not crossed back down so this position should remain open.  However I have not seen here on the blog where anyone entered a trade.  

I have seen profits turn into losses to many times to hold overnight or for the weekend, it is anyones guess which way SRS heads monday morning, better to be save then sorry, I closed my short for a small profit.

smoke and mirrors, the sad thing is with all the market hype by the media, if the market goes up much further mom and pop and all those joe the plummer types will start putting there money back into the market just as the high in this rally is reached and it all comes crashing down.  Stay disciplined!!

Very clear audio on todays update, thanks again for all the work Steve and Matt put into this site. 

Nice post, regarding trading and trading emotion.  One must master the emotion of trading to become a winning trader over the long haul.  I do not think this can be taught by anyone except ones self, experience is really the only teacher when it comes to emotion.  To get experience one must trade over and over again month in and month out.  For most I think it takes years to learn to control trading emotion and even then most experinced traders will let emtion get the best of them and they will slip and fall.  However you must get back up, reflect on what caused this set back, learn from it (more experience) and trade again. 

I backtest and automate my entries into and out of URE based on the SRS EMA cross.  I use SD at Ameritrade and have it set to trigger off of what is going on SRS.

Nice politically correct heads up or should I say blog correct post on SRS, LOL

Experience over time is the real teacher, there are very few things others can tell you to really gain control of trading emotion.

Very good information in hornsats post, I will add my two cents:  It has taken me years at this, but I have gotten to the point where I can trade with very little emotion: Here are probably some of the key items that have helped me.

Position size, trade what feels comfortable, keep greed and fear in check.  With smaller accounts keep position size where if you have a string of losses it will not wipe out your account, staying in the game is key.

Trade a proven system with a good track record, with the highest possible win/loss ratio.  I use Matt's EMA cross over systems however I backtest all of them on a weekly bases and determine which one is currently perfoming the best and that is where I put my money.

Do not over trade - I bet many of the newer traders here are trading way to much, I do this to make money not for the sake of trading.  You could have the best system in the world but if you are taking other more subjective trades with a much lower win ratio you are burning up your overall profit

Trade money that if you lose it will not have any significant effect on your currentfinancial well being.  Sure you may not be able to buy that new boat or take that nice trip next year, so what, you should still be in financial good shape

Better yet do like I do, I get up in the morning watch Matt or Steves video before the open, open strategy desk, set the automated system up to trade long SRS or URE and then leave.  I go golfing or work, or whatever, but I don't worry about it at the end of the day often after the market closes, I check my account to see if I took a trade or not and if I made money or not.  The next day I do the same thing, I am constantly trolling for a trade with this system but since I do not watch it I do not have the emotion that might cause me to not take the trade or close the trade early and give up posible profits.  It works end of story.