This notification applies
to both the single entry
and the multi entry system! The single entry system
would take a 100% long entry while the multi entry system would
take a 40% initial entry.
- The SPY system will go long if price closes
at or below
134.79
- The SPY system will not go long if SPY closes
below134.61
As I type this, the current price of the SPY is 135.03, which is
above the 134.79 trigger point and does not trigger a long, but
this could change the last hr of the day, I will send out a final
confirmation email at the close of the day, but WATCH THESE
PRICES!
I know that this is a VERY tight range, but normally
it's not this complicated. Normally there is only one price
that the SPY has to close below in order to trigger a long entry,
today is kind of an odd day. >90% of the time the system
will simply go long if SPY closes below a certain price (such as
134.80 like today), however because some of the indicators that I
use are meeting special conditions, this cause an extra filter for
the trade.
I see that I am not the only one that didn't see a close below
134.79. TDAmeritrade, thinkorswim and Yahoo Finance all had the
close at 134.83. However, given your email re: the Trade Station
close, I bought after hours for 134.77, so I can try to track your
results.
Am I correct that I cannot place a trade after 1pm and that the
activity after 1pm on the chart are trades placed before 1pm
that are settling? If that is the case, the SPY was above
134.79 before 1pm and below 134.79 when all trades settled.
maybe i'm just slow, but ishow a close of the spy at 131.86
therefore i should go long? or wait its below 134.61= no
trade?????? Are we to enter after the close or use a buy stop
at the close or buy after hours??? sorry, need help!
SPY important trade notification
Posted by matt on 4th of May 2011 at 03:35 pm
Important notification for the SPY swing system:
This notification applies to both the single entry and the multi entry system! The single entry system would take a 100% long entry while the multi entry system would take a 40% initial entry.
- The SPY system will go long if price closes at or below 134.79
- The SPY system will not go long if SPY closes below 134.61
As I type this, the current price of the SPY is 135.03, which is above the 134.79 trigger point and does not trigger a long, but this could change the last hr of the day, I will send out a final confirmation email at the close of the day, but WATCH THESE PRICES!
I know that this is a VERY tight range, but normally it's not this complicated. Normally there is only one price that the SPY has to close below in order to trigger a long entry, today is kind of an odd day. >90% of the time the system will simply go long if SPY closes below a certain price (such as 134.80 like today), however because some of the indicators that I use are meeting special conditions, this cause an extra filter for the trade.
SPY Close
Posted by bobhug on 4th of May 2011 at 04:34 pm
Matt:
I see that I am not the only one that didn't see a close below 134.79. TDAmeritrade, thinkorswim and Yahoo Finance all had the close at 134.83. However, given your email re: the Trade Station close, I bought after hours for 134.77, so I can try to track your results.
Bob
Since I took the trade on the email I am going to keep it.
Posted by xxnileshxx on 4th of May 2011 at 04:30 pm
I am going to take this trade today and see how it works out tomorrow.
Title: http://breakpointtrades.com/blog/post/155793/ so tradestation close is
Posted by chrshale on 4th of May 2011 at 04:30 pm
so tradestation close is inaccurate?
SPY end-of-day trade deadline
Posted by soulman on 4th of May 2011 at 04:16 pm
Am I correct that I cannot place a trade after 1pm and that the activity after 1pm on the chart are trades placed before 1pm that are settling? If that is the case, the SPY was above 134.79 before 1pm and below 134.79 when all trades settled.
How are we to reconcile that?
totally confused by your instructions
Posted by 4ballen on 4th of May 2011 at 04:14 pm
maybe i'm just slow, but ishow a close of the spy at 131.86 therefore i should go long? or wait its below 134.61= no trade?????? Are we to enter after the close or use a buy stop at the close or buy after hours??? sorry, need help!
Check your e-mail everyone -
Posted by sporopat on 4th of May 2011 at 04:13 pm
Check your e-mail everyone - Looks like we are supposed to buy!
SPY is 134.76 -- do we enter now?
Posted by xxnileshxx on 4th of May 2011 at 04:12 pm
This is really confusing.
Check the current trade tab
Posted by aharon on 4th of May 2011 at 04:13 pm
Check the current trade tab under single or multi. There was a trade today.
So am I reading correctly
Posted by sporopat on 4th of May 2011 at 04:04 pm
So am I reading correctly that the SPY closed at $134.83? No trade then? Right?
FAQ says "all new trades are
Posted by pdani on 4th of May 2011 at 03:49 pm
FAQ says "all new trades are entered at the close of the day" so how do we do this if we are waiting for the SPY to close between this and that?
" some days it will be
Posted by ascr on 4th of May 2011 at 03:52 pm
" some days it will be hair trigger like this
worst case scenario can enter after hrs, SPY is liquid as hell, again today is gonna be tight and close" Matt
NO Entry, right?
Posted by haschade on 4th of May 2011 at 04:04 pm
So, it didn't close below 134.79 so there was NO ENTRY, right? Even though it traded below there after hours.
Do I have this right?
Thanks!