LOL yes you need to sell me some of that good stuff that you are
smoking
anyway you are looking at it the wrong way, the system had a
draw down of 10.04% in Feb of 2009, however the reason that I set
the stop loss at 10.5% was so that trade would NOT stop out because
that trade turned out to be a monster 25% winning trade, does this
make sense? I set the stop loss just above the largest draw
down trade
please see the attached trade from Feb 2009, it should make
sense to you now why I have the stop loss at 10.5%
guys FYI regarding the SPY Pro system - if you wanted to take
the scale outs, the 1% profit target comes in at a price of
$164.96, so if you wanted to scale out of 20% of your shares there,
then I suggest that you simply place a GTC sell limit order for
that price in your account so that it would automatically execute
there.
The Scaleout version exits 20% of its position at a 1% gain,
another 20% at a 2.5% gain, another 20% at a 4.5% gain, and the
remaining 40% at the signal exit. Otherwise the non-scale out
version just exits everything at the signal exit vs scaling out.
The decision is up to you.
Remember the SPY Pro and SPY Ver 2 need a close at least above
the 8 day SMA to get an exit, that's still quite a ways away.
and honestly if anyone is very scared of the market, you can
sell everything now if you want to for a winning trade and go to
cash, again your decision
Matt , unless I am
SPY pro system response to a question
Posted by cuqui69 on 27th of Aug 2013 at 03:41 pm
Matt , unless I am smoking something funny! I looked back at the trade stats and I don't see the 10.5% back in Feb 2009!
LOL yes you need to
Posted by matt on 27th of Aug 2013 at 04:00 pm
LOL yes you need to sell me some of that good stuff that you are smoking
anyway you are looking at it the wrong way, the system had a draw down of 10.04% in Feb of 2009, however the reason that I set the stop loss at 10.5% was so that trade would NOT stop out because that trade turned out to be a monster 25% winning trade, does this make sense? I set the stop loss just above the largest draw down trade
please see the attached trade from Feb 2009, it should make sense to you now why I have the stop loss at 10.5%
guys FYI regarding the SPY
Posted by matt on 28th of Aug 2013 at 12:19 pm
guys FYI regarding the SPY Pro system - if you wanted to take the scale outs, the 1% profit target comes in at a price of $164.96, so if you wanted to scale out of 20% of your shares there, then I suggest that you simply place a GTC sell limit order for that price in your account so that it would automatically execute there.
The Scaleout version exits 20% of its position at a 1% gain, another 20% at a 2.5% gain, another 20% at a 4.5% gain, and the remaining 40% at the signal exit. Otherwise the non-scale out version just exits everything at the signal exit vs scaling out. The decision is up to you.
Remember the SPY Pro and SPY Ver 2 need a close at least above the 8 day SMA to get an exit, that's still quite a ways away.
and honestly if anyone is very scared of the market, you can sell everything now if you want to for a winning trade and go to cash, again your decision
CLICK HERE to view a Performance Report for SPY Pro Single Entry/Single exit strategy
CLICK HERE to view a Performance Report for SPY Pro scale out version
Je je je I have
Posted by cuqui69 on 27th of Aug 2013 at 04:05 pm
Je je je I have to quit that sht!
Thanks Matt Now is Clear!
I do the same thing
Posted by matt on 27th of Aug 2013 at 04:02 pm
I do the same thing with the SPY RSI 2 system and DVY system, the stop loss is set just above the maximum trade draw down.