Regarding the SPY Pro system - if you are following the scaleout
version, the 3 scaleout prices are:
- 20% at $179.13,
- 20% at 181.79
- 20% at 185.34
of course that's if it gets a chance to hold that long - once
price closes over the 8 day MA, the system will decide to ether
exit the trade or hold it depending on what the trending indicators
look like.
for those scalout prices, it's best to just put GTC sell limit
orders in now at those prices, that way they will automatically
execute for you - don't wait for me to send an email because by the
time I write an email and sednd it out, 5 -10 min will have past
and the price will have moved - so just place your GTC sell limit
orders now and let them do the work for you
kamran- first off
be careful using 3X leveraged ETF's, don't over margin yourself-
too many people get into trouble with leveraged ETF's, while
the gains will be 3X so will the loses and if you use margin on top
of it, that makes it worst. For example if someone places
100% of their account into a trade and used the 2X overnight
margin, and the bought a 3X ETF, they would have 6 times the
leverage of the 1X ETF, so if the system took a small 3% loss, it
would be 18% under this scenario
anyway regarding the 8 day SMA - when price closes over that as
I stated the system will decide at that time whether or not to hold
or exit the trade, I can't tell you until it happens, it depends on
what the indicators are doing - so best to wait until that time.
Of course if you wish to take some profits feel free,
Always taught that things that appear too good to be true are.
These systems are too accurate and therefore cannot be true. I
intend to stop following them even though they easily pay for far
and above my subscriptions fees here.
ha - thanks for the feedback doug -however this SPY system trade
has a long way to go yet, I just hope it can close out fine.
Nice pop today, (but off the highs) but of course the system
needs at least a close over the 8 day MA to get an exit and that's
quite a ways off yet
regarding the SPY Pro, depending on if you thought the market
might go lower, one could scale into the position - I used to send
signals out to a multi entry version but no longer do, the old
multi entry version would scale into a position at 0.5% or better
prices, 40%, 30% and 30% for a 3 entry system or 60% and 40% for a
two entry system. Honestly it's up to you, if you felt better
psychologically by scaling in then that's an option. I've
attached an image showing examples of scale in trades.
anyway hopefully the market can bounce enough fro the systems
get exit the trades OK and not get caught, it's a been long time
since a losing trade, just hoping it's not now, we'll see and a
system is a system.
I updated the Sticky post well before the close as I stated in
the email, you only had to look at the sticky post, plus price was
well below the 177.9 that I listed earlier in the day.
SPY Pro and Ver 2 systems long position confirmed
Posted by matt on 29th of Jan 2014 at 02:29 pm
4 min to go for the market - looks like the system trades are locked in
-----
The SPY Pro and Ver 2 systems may take a long position at the close should we remain down like this, I'll keep you posted
Looks like SPY needs to close below about 177.9 in order for the SPY Pro and Ver 2 systems to take a long
Regarding the SPY Pro system
Posted by matt on 30th of Jan 2014 at 10:47 am
Regarding the SPY Pro system - if you are following the scaleout version, the 3 scaleout prices are:
- 20% at $179.13,
- 20% at 181.79
- 20% at 185.34
of course that's if it gets a chance to hold that long - once price closes over the 8 day MA, the system will decide to ether exit the trade or hold it depending on what the trending indicators look like.
for those scalout prices, it's
Posted by matt on 30th of Jan 2014 at 10:56 am
for those scalout prices, it's best to just put GTC sell limit orders in now at those prices, that way they will automatically execute for you - don't wait for me to send an email because by the time I write an email and sednd it out, 5 -10 min will have past and the price will have moved - so just place your GTC sell limit orders now and let them do the work for you
SPXL
Posted by kamran on 30th of Jan 2014 at 11:08 am
Hi Matt,
I opened SPXL position yesterday, Should I use 8DMA for sell order?
kamran- first off be careful using
Posted by matt on 30th of Jan 2014 at 11:36 am
kamran- first off be careful using 3X leveraged ETF's, don't over margin yourself- too many people get into trouble with leveraged ETF's, while the gains will be 3X so will the loses and if you use margin on top of it, that makes it worst. For example if someone places 100% of their account into a trade and used the 2X overnight margin, and the bought a 3X ETF, they would have 6 times the leverage of the 1X ETF, so if the system took a small 3% loss, it would be 18% under this scenario
anyway regarding the 8 day SMA - when price closes over that as I stated the system will decide at that time whether or not to hold or exit the trade, I can't tell you until it happens, it depends on what the indicators are doing - so best to wait until that time. Of course if you wish to take some profits feel free,
Always taught that things that
Posted by smoothy on 30th of Jan 2014 at 09:07 am
Always taught that things that appear too good to be true are. These systems are too accurate and therefore cannot be true. I intend to stop following them even though they easily pay for far and above my subscriptions fees here.
(kidding of course)
Keep up the good work guys!
Doug
ha - thanks for the
Posted by matt on 30th of Jan 2014 at 10:21 am
ha - thanks for the feedback doug -however this SPY system trade has a long way to go yet, I just hope it can close out fine. Nice pop today, (but off the highs) but of course the system needs at least a close over the 8 day MA to get an exit and that's quite a ways off yet
regarding the SPY Pro, depending
Posted by matt on 29th of Jan 2014 at 04:27 pm
regarding the SPY Pro, depending on if you thought the market might go lower, one could scale into the position - I used to send signals out to a multi entry version but no longer do, the old multi entry version would scale into a position at 0.5% or better prices, 40%, 30% and 30% for a 3 entry system or 60% and 40% for a two entry system. Honestly it's up to you, if you felt better psychologically by scaling in then that's an option. I've attached an image showing examples of scale in trades.
anyway hopefully the market can bounce enough fro the systems get exit the trades OK and not get caught, it's a been long time since a losing trade, just hoping it's not now, we'll see and a system is a system.
Looks like SPY needs to
Posted by matt on 29th of Jan 2014 at 02:47 pm
Looks like SPY needs to close below about 177.9 in order for the SPY Pro and Ver 2 systems to take a long
The signal is now gone,
Posted by matt on 29th of Jan 2014 at 02:35 pm
The signal is now gone, looks like the SPX needs to be down 12 more more points to trigger a long.
currently 177.2
Posted by himsa on 29th of Jan 2014 at 03:01 pm
currently 177.2
any update on signal?
Posted by jdaswani on 29th of Jan 2014 at 03:46 pm
any update on signal?
updates on systems?
Posted by blevins76 on 29th of Jan 2014 at 04:03 pm
updates on systems?
SPY Pro and Ver 2 systems ...
Posted by mohane on 29th of Jan 2014 at 04:10 pm
Are we entering the trade after hours ?
I updated the Sticky post
Posted by matt on 29th of Jan 2014 at 04:19 pm
I updated the Sticky post well before the close as I stated in the email, you only had to look at the sticky post, plus price was well below the 177.9 that I listed earlier in the day.
Sticky Note
Posted by peterwelsh on 29th of Jan 2014 at 04:35 pm
It has been awhile since I was on the community, where is the sticky note again?
Peter - the sticky notes
Posted by steve on 29th of Jan 2014 at 04:44 pm
Peter - the sticky notes are found at the top of the blog...just look above.
Duh!
Posted by peterwelsh on 29th of Jan 2014 at 07:55 pm
Thanks Steve!
Thanks Matt
Posted by mohane on 29th of Jan 2014 at 04:22 pm