Hello everyone, as you know the market is nicely down today so
far, not surprised following the holiday weekend.
Anyway regarding the Three SPY Mechanical systems: SPY
Pro, SPY Ver 2, and SPY RSI 2 systems:
I'm seeing a potential long trade on the SPY Pro, Ver 2, and SPY
RSI 2 systems should the market close at or below current
levels.
If conditions are met, remember that the SPY Ver 2 and RSI 2
systems have two scale-ins, so this would only be the first scale
in. This would constitute buying a 76%
position into SPY for the SPY Pro combined system, which
leaves the system still able to average in at lower prices should
the market go lower.
SPY ProSPY Ver 2 SPY RSI 2
1st Entry
40%18% 18%
2nd Entry N/A
12%
12%
Total = 100%
For our Ditto Trade subscribers the trade will of course
automatically be entered for you by their broker.
If you happen to be on a free trial, since these trades can
lasts weeks at a time, which means your trial could end before the
system exits the trade, I think it only makes sense to follow the
systems via a 6 month membership since your free trial could end
before the trade is closed out, thus leaving you hanging.
Should the market close up today the systems will not go long, I
will confirm later today, and always make sure to check the trading
community blog as I ALWAYS confirm the trades there at the
close.
So at this moment, this is the breakdown, only an 18% position
for the combined system with RSI 2 system going long. There's still
10 min left so I will confirm at the close because a lot can still
happen in 10 min
SPY Mechanical Systems Did NOT take a trade
Posted by matt on 26th of May 2015 at 10:29 am
SPY systems DID NOT take a trade
-------------
Hello everyone, as you know the market is nicely down today so far, not surprised following the holiday weekend.
Anyway regarding the Three SPY Mechanical systems: SPY Pro, SPY Ver 2, and SPY RSI 2 systems:
I'm seeing a potential long trade on the SPY Pro, Ver 2, and SPY RSI 2 systems should the market close at or below current levels.
If conditions are met, remember that the SPY Ver 2 and RSI 2 systems have two scale-ins, so this would only be the first scale in. This would constitute buying a 76% position into SPY for the SPY Pro combined system, which leaves the system still able to average in at lower prices should the market go lower.
SPY Pro SPY Ver 2 SPY RSI 2
1st Entry 40% 18% 18%
2nd Entry N/A 12% 12%
Total = 100%
For our Ditto Trade subscribers the trade will of course automatically be entered for you by their broker.
If you happen to be on a free trial, since these trades can lasts weeks at a time, which means your trial could end before the system exits the trade, I think it only makes sense to follow the systems via a 6 month membership since your free trial could end before the trade is closed out, thus leaving you hanging.
Should the market close up today the systems will not go long, I will confirm later today, and always make sure to check the trading community blog as I ALWAYS confirm the trades there at the close.
enjoy the rest of your day,
Matt
Its OK, we forgive you
Posted by fcarbone on 26th of May 2015 at 10:02 pm
Please do the same exact thing next time, it was the right call for the situation.
Crap! this is why I
Posted by matt on 26th of May 2015 at 04:04 pm
Crap! this is why I really want to just wait for the close to confirm. The SPY RSI 2 system didn't go long!
I apologize but this is also what can occur when you want them intra day, the systems only really confirm at the close
SPY is liquid you can exit easily if you bought it
SPY Rev 2 system
Posted by oakavekid on 26th of May 2015 at 04:20 pm
My data shows the RSI 2 closing at 8.40 at Merrill Lynch and therefore a position of 60%. What RSI does your system show for a close?
remember it's not that simple,
Posted by matt on 26th of May 2015 at 04:21 pm
remember it's not that simple, there are other filters in place, which kicked in this time for that system, which negates the RSI 2 below 10%
Sorry. I thought it was
Posted by oakavekid on 26th of May 2015 at 04:24 pm
Sorry. I thought it was that simple to enter, just other filters to stay long...My mistake
Currently SPY is trading up
Posted by matt on 26th of May 2015 at 04:10 pm
Currently SPY is trading up about 30 cents in the after market, so you can probably get out at a better price than you entered.
It appears that a price
Posted by matt on 26th of May 2015 at 03:33 pm
It appears that a price over $210.66 will cause the SPY Pro and Ver 2 systems NOT to go long,
the SPY RSI 2 would still go long
again best to wait until the close to confirm because sometimes this stuff is on the edge
So at this moment, this
Posted by matt on 26th of May 2015 at 03:49 pm
So at this moment, this is the breakdown, only an 18% position for the combined system with RSI 2 system going long. There's still 10 min left so I will confirm at the close because a lot can still happen in 10 min
SPY Pro SPY Ver 2 SPY RSI 2
1st Entry 40% 18% 18%
2nd Entry N/A 12% 12%
Do we know if Spy
Posted by ship on 26th of May 2015 at 03:20 pm
Do we know if Spy is going to take a trade or we have to wait till last min? Thx
yes there is no change,
Posted by matt on 26th of May 2015 at 03:24 pm
yes there is no change, the market hasn't bounced enough to negate it the SPY system trades yet
Great Matt. Just to make
Posted by ship on 26th of May 2015 at 03:26 pm
Great Matt. Just to make sure, I should still wait for the last minute to get confirmation from the system, correct?
it's generally best as the
Posted by matt on 26th of May 2015 at 03:27 pm
it's generally best as the last 30 min can be quite volatile
Matt, What is the SPY value
Posted by jdeen on 26th of May 2015 at 03:18 pm
Matt,
What is the SPY value that we wouldn't trade today?
Thanks
Joe