Posted by pimacanyon on 6th of Mar 2014 at 12:57 pm
Hi Matt,
Thanks for the heads up.
Question: I thought the system takes only long trades when price
is above 200 Daily SMA (or some other criteria you have to
determine the long term trend is up). So that
assumption on my part is incorrect?
Hello - nope I never said never, I always said 'MOST' of the
trades above the 200 day MA will be longs, while most of the trades
below the 200 MA will be shorts, not all of them, go and look at
the trade history, you can find plenty of examples, it's always
been that way
also this was even discussed in the old FAQ,
here's a link:
I've attached some images showing shorts above the 200 MA and
longs below the 200 MA
Posted by pimacanyon on 6th of Mar 2014 at 01:28 pm
Thanks! That helps, gives us some expectation of how the
trade is likely to play out. May not be a major top, but it's
likely price will pull back to below the 8 SMA over the next few
days.
SPY Pro System -- possible short
Important - SPY Pro system
Posted by pimacanyon on 6th of Mar 2014 at 12:57 pm
Hi Matt,
Thanks for the heads up.
Question: I thought the system takes only long trades when price is above 200 Daily SMA (or some other criteria you have to determine the long term trend is up). So that assumption on my part is incorrect?
Thanks!
Hello - nope I never
Posted by matt on 6th of Mar 2014 at 01:05 pm
Hello - nope I never said never, I always said 'MOST' of the trades above the 200 day MA will be longs, while most of the trades below the 200 MA will be shorts, not all of them, go and look at the trade history, you can find plenty of examples, it's always been that way
also this was even discussed in the old FAQ, here's a link:
I've attached some images showing shorts above the 200 MA and longs below the 200 MA
guys- here's a quick video
Posted by matt on 6th of Mar 2014 at 01:15 pm
guys- here's a quick video I made showing this trade and past examples
CLICK HERE to watch the video
SPY Pro short trades - video
Posted by pimacanyon on 6th of Mar 2014 at 01:28 pm
Thanks! That helps, gives us some expectation of how the trade is likely to play out. May not be a major top, but it's likely price will pull back to below the 8 SMA over the next few days.
and remember we have that
Posted by matt on 6th of Mar 2014 at 02:18 pm
and remember we have that damn jobs report tomorrow, I hate when trades are just before big news like that.
Also the system may not take a short today if we dont' close up stronger than this, right now for example we are not up enough, we were earlier
Matt: I had the same
Posted by tad51 on 6th of Mar 2014 at 01:02 pm
Matt:
I had the same assumption. Is this an exception to that rule?