Hello everyone, the SPY Pro system achieved it's first scaleout!
Remember this system scales out of 20% of it's position after
a 1.25% gain in profit. This leaves 80% of the shares still
in a long trade. So far nice trade from the lows of last
week! Had someone simply bought 100 shares of SPY, one would nearly
have paid for a 6 month membership.
For the SPY Pro combined system - since this system combines all
three SPY systems (SPY Pro, Ver 2, and RSI 2), you would sell only
8% of your shares and still have 92% of the position.
By the way, the next scaleout comes in at a 2.5% gain for the
SPY pro where it will sell another 20%, and of course another 8%
for the SPY Pro combined system
FYI - regarding the SPY mechanical systems, the SPY Pro and Ver
2 systems appear to be getting an exit signal, however I will
confirm at the close. Remember if confirmed, these two
systems exit on the next day's open, NOT at the close, so if the
exit is confirmed they would close out their remaining long
positions tomorrow on the open, NOT today.
regarding the SPY systems that are still long, it won't take
much for them to get an exit signal here, point being, they won't
get into much trouble or stuck holding longs if we have a big
market downturn
also for better or for worse, even though SPY is now clearly
above the 8 and 9 SMA's, the systems have decided to hold the
trades because the trending indicator is positive.
again you can do what you want, clearly the trade is up nicely
even if one sold out here, however the systems are going to now
hold the trade
a profit target of 1.25% can be hit any time during the day, it
has nothing to do with the close
Honestly my 'bad' was not simply giving you guys the sell limit
price. For the scaleouts, it's best to simply set a GTC sell
limit order in for the target, that way it will automatically be
executed for you.
For example, the next scaleout for the SPY Pro comes in at a
2.5% gain, so that's very easy to calculate from the entry price of
the system which was $205.76.
Therefore set a GTC sell limit at a price of $211.42 for
another 20% of SPY Pro, or 8% of the combined system
SPY Pro system 1st scaleout achieved
Posted by matt on 30th of Mar 2015 at 02:40 pm
Hello everyone, the SPY Pro system achieved it's first scaleout! Remember this system scales out of 20% of it's position after a 1.25% gain in profit. This leaves 80% of the shares still in a long trade. So far nice trade from the lows of last week! Had someone simply bought 100 shares of SPY, one would nearly have paid for a 6 month membership.
For the SPY Pro combined system - since this system combines all three SPY systems (SPY Pro, Ver 2, and RSI 2), you would sell only 8% of your shares and still have 92% of the position.
By the way, the next scaleout comes in at a 2.5% gain for the SPY pro where it will sell another 20%, and of course another 8% for the SPY Pro combined system
FYI - regarding the SPY
Posted by matt on 1st of Apr 2015 at 12:53 pm
FYI - regarding the SPY mechanical systems, the SPY Pro and Ver 2 systems appear to be getting an exit signal, however I will confirm at the close. Remember if confirmed, these two systems exit on the next day's open, NOT at the close, so if the exit is confirmed they would close out their remaining long positions tomorrow on the open, NOT today.
regarding the SPY systems that
Posted by matt on 31st of Mar 2015 at 10:00 pm
regarding the SPY systems that are still long, it won't take much for them to get an exit signal here, point being, they won't get into much trouble or stuck holding longs if we have a big market downturn
Already out! 1/3 yesterday, the
Posted by frtaylor on 31st of Mar 2015 at 10:23 pm
Already out! 1/3 yesterday, the rest today mid-afternoon.
also for better or for
Posted by matt on 30th of Mar 2015 at 02:56 pm
also for better or for worse, even though SPY is now clearly above the 8 and 9 SMA's, the systems have decided to hold the trades because the trending indicator is positive.
again you can do what you want, clearly the trade is up nicely even if one sold out here, however the systems are going to now hold the trade
to clarify...
Posted by trader8 on 30th of Mar 2015 at 02:46 pm
Does this mean to sell that portion now or on the open tomorrow?
a profit target of 1.25%
Posted by matt on 30th of Mar 2015 at 02:52 pm
a profit target of 1.25% can be hit any time during the day, it has nothing to do with the close
Honestly my 'bad' was not simply giving you guys the sell limit price. For the scaleouts, it's best to simply set a GTC sell limit order in for the target, that way it will automatically be executed for you.
For example, the next scaleout for the SPY Pro comes in at a 2.5% gain, so that's very easy to calculate from the entry price of the system which was $205.76. Therefore set a GTC sell limit at a price of $211.42 for another 20% of SPY Pro, or 8% of the combined system
Thanks.
Posted by trader8 on 30th of Mar 2015 at 02:54 pm
Thanks.