I will likely be adding this new trade type to the SPY system
called a bear market long, it would have went long today, it went
long on the Aug 24th lows most recently for a nice trade.
Well it's not really a new trade type, it's been used for a
few years with the ES system, but it's a really good long trade
when the market is below the 200 day MA oversold and I've always
wanted to add it to the SPY systems.
The ES system actually has a lot of trade types that the SPY
system does not, however it's difficult to add new trade types to
the SPY system easily at this point since it's all one big code.
Therefore we have started on a project to break the SPY
systems down into modules (our new stuff basically) and it will
make managing the system a lot easier and adding new trade types to
it. Anyway just a preliminary heads up.
Anyway this trade here you see is not yet official so I won't
send it out, just showing you for information.
that chart image is a system for professional clientele, hedge
fund etc, not BPT website since it trades large numbers of ES
contracts to scale in and out of positions
however as I stated yesterday after the close, the SPY system
would have went long if I added this bear long trade type to the
SPY systems, something which I'm going to do, however since it's
not an official trade of the SPY system yet, I couldn't send it
out, check my post from yesterday, also discussed last night
yes Junkie it's still long, and the profession version went long
yesterday, here's chart. Of course the benefit to this one is
that it can scale out very aggressively like the first entry got
out of nearly all of it's position, this is a luxury you guys don't
have since you can't enter 10 or 20 contracts. However this
trade type the bear long, its a good trade. I can place the
same settings on a 100 year Dow chart or 60 year SPX chart and the
statistics and trades are very nice.
Again short term of course the SPX is very close to the Aug
lows, seems like we gotta tag it sometime, whether that's now or
later, I think we will. If we go and tag it now and under cut
it, the trade will take some heat, just how it is.
Today the market has a small gap up, however honestly both Steve
and I would have preferred a gap down actually, then a reversal.
we'll see how the day unfolds
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SPY system, trade type bear market long
Posted by matt on 28th of Sep 2015 at 04:40 pm
I will likely be adding this new trade type to the SPY system called a bear market long, it would have went long today, it went long on the Aug 24th lows most recently for a nice trade. Well it's not really a new trade type, it's been used for a few years with the ES system, but it's a really good long trade when the market is below the 200 day MA oversold and I've always wanted to add it to the SPY systems.
The ES system actually has a lot of trade types that the SPY system does not, however it's difficult to add new trade types to the SPY system easily at this point since it's all one big code. Therefore we have started on a project to break the SPY systems down into modules (our new stuff basically) and it will make managing the system a lot easier and adding new trade types to it. Anyway just a preliminary heads up.
Anyway this trade here you see is not yet official so I won't send it out, just showing you for information.
Hi Matt - what system
Posted by torvix on 29th of Sep 2015 at 09:39 am
Hi Matt - what system is this buy signal off of?
Thanks.
that chart image is a
Posted by matt on 29th of Sep 2015 at 09:52 am
that chart image is a system for professional clientele, hedge fund etc, not BPT website since it trades large numbers of ES contracts to scale in and out of positions
however as I stated yesterday after the close, the SPY system would have went long if I added this bear long trade type to the SPY systems, something which I'm going to do, however since it's not an official trade of the SPY system yet, I couldn't send it out, check my post from yesterday, also discussed last night
Matt, I have taken that
Posted by junkie on 28th of Sep 2015 at 05:19 pm
Matt, I have taken that long on ES, please post when the trade is closed.
yes Junkie it's still long,
Posted by matt on 29th of Sep 2015 at 09:19 am
yes Junkie it's still long, and the profession version went long yesterday, here's chart. Of course the benefit to this one is that it can scale out very aggressively like the first entry got out of nearly all of it's position, this is a luxury you guys don't have since you can't enter 10 or 20 contracts. However this trade type the bear long, its a good trade. I can place the same settings on a 100 year Dow chart or 60 year SPX chart and the statistics and trades are very nice.
Again short term of course the SPX is very close to the Aug lows, seems like we gotta tag it sometime, whether that's now or later, I think we will. If we go and tag it now and under cut it, the trade will take some heat, just how it is.
Today the market has a small gap up, however honestly both Steve and I would have preferred a gap down actually, then a reversal. we'll see how the day unfolds