FYI the 2nd exit for the SPY system at 2.5% gain would be
$157.99, it would exit another 20% of the shares leaving 60%
remaining.
Otherwise per the system, a close over the 8 day SMA would also
trigger an exit for the system. Currently the 8 day SMA is at
$156.39, however this MA should drop again tomorrow as the slope is
currently negative. Therefore a modest up day tomorrow could cause
the system to exit the trade entirely (vs scaling out again), which
would be fine by me
Thanks....I appreciate all you and
Update on SPY system long trade from yesterday and video comments
Posted by hawkinslf on 22nd of Apr 2013 at 12:40 pm
Thanks....I appreciate all you and Steve do.
FYI the 2nd exit for
Posted by matt on 22nd of Apr 2013 at 01:52 pm
FYI the 2nd exit for the SPY system at 2.5% gain would be $157.99, it would exit another 20% of the shares leaving 60% remaining.
Otherwise per the system, a close over the 8 day SMA would also trigger an exit for the system. Currently the 8 day SMA is at $156.39, however this MA should drop again tomorrow as the slope is currently negative. Therefore a modest up day tomorrow could cause the system to exit the trade entirely (vs scaling out again), which would be fine by me
Got the 1st scale out;
Posted by hawkinslf on 22nd of Apr 2013 at 02:38 pm
Got the 1st scale out; can set a sell stop on the 2nd scale out but not sure how to set a stop on the 8 day SMA. Thanks.
FYI if SPY closes above
Posted by matt on 22nd of Apr 2013 at 02:45 pm
FYI if SPY closes above a price of $156.46 today, the SPY system will exit this trade tomorrow on the open!
got it!
Posted by hawkinslf on 22nd of Apr 2013 at 02:47 pm
got it!