even though the SPY Pro and Ver 2 system exited on the open,
since the marketed gapped down some I think it would have been
prudent to personally see if the market could bounce from the gap
to get a better price i..e see how the gap behaved vs just selling
i.e. did it attempt to hold or just sell off i.e. employ a 15 min
gap rule. Otherwise the system did exit of course, but
personally non system way that would have been a way to look at
it
15mingaprule:
Draw 2 horizontal lines; one at the
lows and one at the highs of the first
15 - 20
min. If the market can stay
above the
15min high candle bar, the
it is considered positive and the
gap could possibly hold
up for the day , however if the market falls below the
15min low, then the
likelihood of the
gap fading increases
greatly. Realize that this is just a technique only and
doesn't work all the time!
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even though the SPY Pro
Update on the SPY Pro and other SPY systems
Posted by matt on 11th of Apr 2014 at 09:41 am
even though the SPY Pro and Ver 2 system exited on the open, since the marketed gapped down some I think it would have been prudent to personally see if the market could bounce from the gap to get a better price i..e see how the gap behaved vs just selling i.e. did it attempt to hold or just sell off i.e. employ a 15 min gap rule. Otherwise the system did exit of course, but personally non system way that would have been a way to look at it
15 min gap rule:
Draw 2 horizontal lines; one at the lows and one at the highs of the first 15 - 20 min. If the market can stay above the 15 min high candle bar, the it is considered positive and the gap could possibly hold up for the day , however if the market falls below the 15 min low, then the likelihood of the gap fading increases greatly. Realize that this is just a technique only and doesn't work all the time!