It's not a huge deal, but there has to be a better way of doing
this. I was at my computer, on my IB TWS, and, at market close, SPY
was below $128.75 by several pennies. Again, it's not a
major issue, but it is annoying.
Yes the system has some nail bitters at times with the price at
the end of day pennies away from the trigger point; these are
things that I was not aware would be an issue when I built the
system. I guess the fact that this happens tells us that the
system is in sync with the market movement.
However the system was built to trade the SPY, not for
restrictive 401K plans where you can only buy 15 min before the
market close, or options with time decay etc (though the options
can be entered after the market close for 15 min as well). Simply
trading SPY in a normal trading account is not a problem with after
hrs, or SSO etc.
I'm sorry if some of you are struggling with the end of day nail
bitters, but it is called the SPY system for a reason, when you
deviate from that and trade other things, you take on the extra
nuances that can occur. It is what it is.
Matt, I can only speak for myself, but I hear you. Now, in my
401k I can trade aftrer hours. Maybe you need to go to your
emplyers (some of you) and ask them to do a "brokereage link" such
as I have with Fidelity. Fidelity allows after hours trading in my
deferred accounts (401k, etc.). Of course, I also can trade in my
personal account, too. Maybe a trader just trades the spy in
the personal account and if there's no after hours option in the
deferred account (401k, etc.) then just do the best you can making
the best judgement you can..or just don't trade in it.
I also decided to take a risk and deviate today. I bought the
spy when it was considerably lower today. That was my decision. It
could work out favorably or unfavorably for me due to a variety of
reasons (the system could still do a third and fourth trade and I
would not have enough money per my allocation, etc. or it could
shoot up from here and then I'd be happy). One could have also
decided, for example, to go ahead and by the spy even thought it
was .03 from a buy. Again the same risk applies that I described
above. I probably shouldn't be broadcasting it, but as
humans, we have free choice to do what we want.
I guess the point is that with a mechanical system, it is what
it is. If it averages anywhere close to 35% a year in the future I
will be happy. If I deviate, I assume my own risk and I'm not
trading the "spy system." I'll assume the risks and not
complain or brag if I either underperform the spy system or
outperform it over time.
It's not a huge deal,
Multi Entry System 3rd Long entry
Posted by algyros on 1st of Aug 2011 at 05:42 pm
It's not a huge deal, but there has to be a better way of doing this. I was at my computer, on my IB TWS, and, at market close, SPY was below $128.75 by several pennies. Again, it's not a major issue, but it is annoying.
Yes the system has some
Posted by matt on 1st of Aug 2011 at 07:15 pm
Yes the system has some nail bitters at times with the price at the end of day pennies away from the trigger point; these are things that I was not aware would be an issue when I built the system. I guess the fact that this happens tells us that the system is in sync with the market movement.
However the system was built to trade the SPY, not for restrictive 401K plans where you can only buy 15 min before the market close, or options with time decay etc (though the options can be entered after the market close for 15 min as well). Simply trading SPY in a normal trading account is not a problem with after hrs, or SSO etc.
I'm sorry if some of you are struggling with the end of day nail bitters, but it is called the SPY system for a reason, when you deviate from that and trade other things, you take on the extra nuances that can occur. It is what it is.
Yep...
Posted by burkmere on 1st of Aug 2011 at 07:48 pm
Matt, I can only speak for myself, but I hear you. Now, in my 401k I can trade aftrer hours. Maybe you need to go to your emplyers (some of you) and ask them to do a "brokereage link" such as I have with Fidelity. Fidelity allows after hours trading in my deferred accounts (401k, etc.). Of course, I also can trade in my personal account, too. Maybe a trader just trades the spy in the personal account and if there's no after hours option in the deferred account (401k, etc.) then just do the best you can making the best judgement you can..or just don't trade in it.
I also decided to take a risk and deviate today. I bought the spy when it was considerably lower today. That was my decision. It could work out favorably or unfavorably for me due to a variety of reasons (the system could still do a third and fourth trade and I would not have enough money per my allocation, etc. or it could shoot up from here and then I'd be happy). One could have also decided, for example, to go ahead and by the spy even thought it was .03 from a buy. Again the same risk applies that I described above. I probably shouldn't be broadcasting it, but as humans, we have free choice to do what we want.
I guess the point is that with a mechanical system, it is what it is. If it averages anywhere close to 35% a year in the future I will be happy. If I deviate, I assume my own risk and I'm not trading the "spy system." I'll assume the risks and not complain or brag if I either underperform the spy system or outperform it over time.
Then wait until the after hours....
Posted by burkmere on 1st of Aug 2011 at 06:35 pm
And see where the official close was. What's the big deal...?
I had a meeting at
Posted by algyros on 1st of Aug 2011 at 06:39 pm
I had a meeting at three (CST), so I could only wait until the close. And I'm buying options, which only trade for fifteen minutes after close.
Again, it's not a huge problem, but it does add another layer of uncertainty to the system, at lease if one is trading options.