I remember that the SPY system has some new parameters after
last August to prevent that from happening again. What were
they? In my own analysis, I'm leaning to a bounce, but I'm
noticing too many similarities to last August as well.
Posted by frtaylor on 11th of Apr 2012 at 08:31 pm
Exactly. I am getting out on the bounce - the trade looks
too much like the trade of August 2011 for my liking. Will be
watching for overbought conditions - 60/89/144 stochastics on a 15
min chart, any day-long 60 stochastics over 80 on a 5-min chart,
MACD, RSI 5 on a 60 min chart over 70, ABC wave count, etc. to help
find the exit. Also, if it's a decent bounce, I will put a
stop-loss just above entry.
Posted by sschulman on 11th of Apr 2012 at 04:35 pm
What a nice video - informative and heartfelt. Tom thanks for
reposting it - I only vaguely remembered it. Too much multitasking
makes me forgetful! :-)
....Susan
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Current Trade Status
Posted by tom on 4th of Apr 2012 at 04:07 pm
Current SPY Position:
Single Entry:
100% Long as of the close 4/04 at $139.86
Multi Entry:
40% Long as of the close 4/04 at $139.86
20% Long as of the close 4/09 at $138.22
20% Long as of the close 4/10 at $135.90
What was the new system parameter?
Posted by kalinm on 10th of Apr 2012 at 06:53 pm
I remember that the SPY system has some new parameters after last August to prevent that from happening again. What were they? In my own analysis, I'm leaning to a bounce, but I'm noticing too many similarities to last August as well.
Exactly. I am getting out
Posted by frtaylor on 11th of Apr 2012 at 08:31 pm
Exactly. I am getting out on the bounce - the trade looks too much like the trade of August 2011 for my liking. Will be watching for overbought conditions - 60/89/144 stochastics on a 15 min chart, any day-long 60 stochastics over 80 on a 5-min chart, MACD, RSI 5 on a 60 min chart over 70, ABC wave count, etc. to help find the exit. Also, if it's a decent bounce, I will put a stop-loss just above entry.
What is the "that" your
Posted by tom on 11th of Apr 2012 at 09:06 am
What is the "that" your referring to?
Otherwise you can review the changes Matt made to the system HERE .
Thanks for reposting that link
Posted by sschulman on 11th of Apr 2012 at 04:35 pm
What a nice video - informative and heartfelt. Tom thanks for reposting it - I only vaguely remembered it. Too much multitasking makes me forgetful! :-)
....Susan