The gap should help the SPY system, which had 3 entries at
132.46 (40%), 131.47 (20%), 131.56 (20%)
I will know later today if the SPY system is either going to
hold or exit this position. If it decides to exit the
position, it will be on tomorrows open, not at the close because
remember longs are exited next day open after the sell signal is
generated.
By the way, the SPY system will be closing out the long position
tomorrow on the open, which should be win for the multi entry
system assuming the market holds up mostly until then.
remember longs are exited on the next day open instead of the
close, however the sell condition is generated the previous day,
this is nice because we always know a day in advance for exiting
longs!
But again,
do NOT take this as a
sell condition or indicator for the market! The SPY
system is a system that takes well well timed trades, it is not an
indicator to be used to gauge the market with. The system is
in cash 52% of the time and many times it will take a nice long
entry and sell early. My point is, you cannot use the fact
that the system is selling tomorrow on the open as a gauge for the
market to go down or crash. The system takes statistical
optimal trades and exits for a profit, that's all. It's not
to be taken as a market indicator.
Thanks Matt, I've heard that trendline gap jumping called "jump
the creek". And this large gap up goes to show what you guys have
shown about the majority of money is made while the markets are
closed now.
SPY system
Posted by matt on 20th of Apr 2011 at 09:21 am
The gap should help the SPY system, which had 3 entries at 132.46 (40%), 131.47 (20%), 131.56 (20%)
I will know later today if the SPY system is either going to hold or exit this position. If it decides to exit the position, it will be on tomorrows open, not at the close because remember longs are exited next day open after the sell signal is generated.
By the way, the SPY
Posted by matt on 20th of Apr 2011 at 11:36 am
By the way, the SPY system will be closing out the long position tomorrow on the open, which should be win for the multi entry system assuming the market holds up mostly until then. remember longs are exited on the next day open instead of the close, however the sell condition is generated the previous day, this is nice because we always know a day in advance for exiting longs!
But again, do NOT take this as a sell condition or indicator for the market! The SPY system is a system that takes well well timed trades, it is not an indicator to be used to gauge the market with. The system is in cash 52% of the time and many times it will take a nice long entry and sell early. My point is, you cannot use the fact that the system is selling tomorrow on the open as a gauge for the market to go down or crash. The system takes statistical optimal trades and exits for a profit, that's all. It's not to be taken as a market indicator.
what time today's seminar
Posted by scyee on 20th of Apr 2011 at 11:53 am
Hi Matt,
i take 1 day off from work today (Wed.) to attend your web seminar.
What time will that be ??
thanks,
looking at Friday, maybe after
Posted by matt on 20th of Apr 2011 at 12:01 pm
looking at Friday, maybe after lunch, I'll send an email out today to everyone
yes i was out of contact too..what time is it?
Posted by law6 on 20th of Apr 2011 at 11:59 am
Thanks Matt, I've heard that
Posted by ditch on 20th of Apr 2011 at 09:27 am
Thanks Matt, I've heard that trendline gap jumping called "jump the creek". And this large gap up goes to show what you guys have shown about the majority of money is made while the markets are closed now.
Yes here's the post I
Posted by matt on 20th of Apr 2011 at 09:30 am
Yes here's the post I did on that a while back. The majority of gains have come over night, NOT during the trading day
http://breakpointtrades.com/blog/post/149250/
Nice Matt!!
Posted by searay on 20th of Apr 2011 at 09:26 am
Nice Matt!!
Thanks for keeping us up
Posted by tommych on 20th of Apr 2011 at 09:31 am
Thanks for keeping us up to date before the formal launch of the SPY system.
Does your system use stop losses?