Posted by xxnileshxx on 10th of May 2011 at 09:20 am
On 6th Matt had stated that if SPY closes above 135.50 we will
close the position next day at the open. It is possible that
SPY will open at or near 135.50. Does this targer still hold
true or does it change depending on Market movement since 6th.
Posted by sschulman on 10th of May 2011 at 10:23 am
I do remember something like that - you're not imagining things
- but it was stated more like a possibility, not anything
official. I'm confident that anything official will be given to us
in plenty of time, and there won't be any doubt.
Somewhere else, not sure where, Matt stated that there is a
profit target but it's almost never been reached - only been
reached 4 times ever in all the backtesting. And all 4 were when
the system was short. (If I remember correctly.)
The anxiety mounts when you're working and can only sneak a
look at your computer. I was doing that yesterday, even though
I knew FULL WELL that it was too early for any signals
anyway. :-) I'm sure this is happening only because it's new to us.
After a couple of months, we'll be checking in at 3:58 pm or
so and not giving it a second thought. (Don't worry be
happy.)
I think that the problem is that we're using two ideas
interchangeably. You're right, Susan, Matt did discuss a
profit target that is rarely reached. But the original
question was about a sell stop (i.e., the price the system would
have to reach to issue a sell signal). Clearly, these occur
much more frequently than the profit target (i.e., one per buy
signal).
Posted by burkmere on 10th of May 2011 at 10:27 am
I think you're right, Susan. I think Matt indicated the average
trade was 12 days. This has only been a couple (although he did say
some were on a few days) so we shall see. Yes, hopefully, after
awhile it will be so automatic that we're not focusing all day long
on it. It's still new to us so we're wondering, of curse. And
with Matt awaay the anxiety mounts a little. My main concern is
that when Matt returns that he's not stressed out by this. I would
imagine there's a number of things he can do to lesses his stress.
I just hope he does them.
Well, we're headed in the "right" direction here!!
UP!!
I don't know this to be the case, but I can't imagine a dynamic
system such as this one has fixed profit targets. I assume
that the sell signal is recalculated daily.
Posted by burkmere on 10th of May 2011 at 10:10 am
I believe Matt indicated that the targets change daily. I do
hope we get some sort of quick guidance today regarding where we
are at..even if it's just a "no chance for a sell" or "watch later"
etc...I think we will.
As far as we all can see, there is no signal to do anything
right now.....the system went long at the close last Thursday and
there has been no other signal since to my knowledge.
You can see ALL current signals by going to the SPY Swing System
Tab, clicking on Single Entry or Multi Entry Tab and then the
Current Trade Tab (to the far right)...all the info you need is
already posted here.
Posted by sporopat on 10th of May 2011 at 09:30 am
I would imagine it is a dynamic number that changes. Also
note that if we do get a signal today, we have plenty of time to
close the trade since according to the rules, all longs are exited
the morning after the signal is generated. Hope this
helps.
SPY sell if above 135.50 -- Still hold's true?
Posted by xxnileshxx on 10th of May 2011 at 09:20 am
On 6th Matt had stated that if SPY closes above 135.50 we will close the position next day at the open. It is possible that SPY will open at or near 135.50. Does this targer still hold true or does it change depending on Market movement since 6th.
Any feed back would be greatly appreciated.
I do remember something like
Posted by sschulman on 10th of May 2011 at 10:23 am
I do remember something like that - you're not imagining things - but it was stated more like a possibility, not anything official. I'm confident that anything official will be given to us in plenty of time, and there won't be any doubt.
Somewhere else, not sure where, Matt stated that there is a profit target but it's almost never been reached - only been reached 4 times ever in all the backtesting. And all 4 were when the system was short. (If I remember correctly.)
The anxiety mounts when you're working and can only sneak a look at your computer. I was doing that yesterday, even though I knew FULL WELL that it was too early for any signals anyway. :-) I'm sure this is happening only because it's new to us. After a couple of months, we'll be checking in at 3:58 pm or so and not giving it a second thought. (Don't worry be happy.)
.....Susan
I think that the problem
Posted by algyros on 10th of May 2011 at 10:30 am
I think that the problem is that we're using two ideas interchangeably. You're right, Susan, Matt did discuss a profit target that is rarely reached. But the original question was about a sell stop (i.e., the price the system would have to reach to issue a sell signal). Clearly, these occur much more frequently than the profit target (i.e., one per buy signal).
Yes..
Posted by burkmere on 10th of May 2011 at 10:27 am
I think you're right, Susan. I think Matt indicated the average trade was 12 days. This has only been a couple (although he did say some were on a few days) so we shall see. Yes, hopefully, after awhile it will be so automatic that we're not focusing all day long on it. It's still new to us so we're wondering, of curse. And with Matt awaay the anxiety mounts a little. My main concern is that when Matt returns that he's not stressed out by this. I would imagine there's a number of things he can do to lesses his stress. I just hope he does them.
Well, we're headed in the "right" direction here!! UP!!
LOL -- classic Freudian typo
Posted by bkout3 on 10th of May 2011 at 10:40 am
LOL -- classic Freudian typo buckmere -- "so we're wondering of curse" --- well said!
I don't know this to
Posted by algyros on 10th of May 2011 at 10:07 am
I don't know this to be the case, but I can't imagine a dynamic system such as this one has fixed profit targets. I assume that the sell signal is recalculated daily.
Yes..
Posted by burkmere on 10th of May 2011 at 10:10 am
I believe Matt indicated that the targets change daily. I do hope we get some sort of quick guidance today regarding where we are at..even if it's just a "no chance for a sell" or "watch later" etc...I think we will.
Never saw what you refer to
Posted by perthx on 10th of May 2011 at 09:31 am
As far as we all can see, there is no signal to do anything right now.....the system went long at the close last Thursday and there has been no other signal since to my knowledge.
You can see ALL current signals by going to the SPY Swing System Tab, clicking on Single Entry or Multi Entry Tab and then the Current Trade Tab (to the far right)...all the info you need is already posted here.
RELAX!
xxnileshxx
Posted by sporopat on 10th of May 2011 at 09:30 am
I would imagine it is a dynamic number that changes. Also note that if we do get a signal today, we have plenty of time to close the trade since according to the rules, all longs are exited the morning after the signal is generated. Hope this helps.
I think the key word
Posted by stevedfw on 10th of May 2011 at 09:29 am
I think the key word is "close" above 135.50 and THEN sell at the next day's open. And I would think this closing price target could change daily.