junkie / Roy - yes the system would go long if the market sold
down and made new lows, but it has to move by a certain % lower in
order to take another position.
That said - the system is actually looking to close out possible
today as one of the indicators for the bear market long are above
50%.
The bear market long trade on SPY (that I discussed on Monday
and earlier) would be closing out today, same for the ES daily
system (will send email to folks for that specifically though)
Thank you, Matt: it's been a profitable trade! I took only one
ES contract, and should have taken two and sold one on a bounce to
provide me with a cushion. This is obvious in the retrospect.
My concern was about where to put a stop in case the market had
gone lower. Stops are not part of your system, but I could not
convince myself that I could let the trade go against me because it
was counter-trend and in the bear (corrective) market. I would have
re-entered lower, of course, if stopped out.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Futures this evening
Futures this evening
Posted by matt on 30th of Sep 2015 at 09:43 am
junkie / Roy - yes the system would go long if the market sold down and made new lows, but it has to move by a certain % lower in order to take another position.
That said - the system is actually looking to close out possible today as one of the indicators for the bear market long are above 50%.
The bear market long trade
Posted by matt on 30th of Sep 2015 at 03:50 pm
The bear market long trade on SPY (that I discussed on Monday and earlier) would be closing out today, same for the ES daily system (will send email to folks for that specifically though)
actually SPY did not close,
Posted by matt on 30th of Sep 2015 at 04:08 pm
actually SPY did not close, the slight pullback the last few min allowed SPY to stay long, ES though still looking to exit
Thank you, Matt: it's been
Posted by junkie on 30th of Sep 2015 at 10:28 am
Thank you, Matt: it's been a profitable trade! I took only one ES contract, and should have taken two and sold one on a bounce to provide me with a cushion. This is obvious in the retrospect.
My concern was about where to put a stop in case the market had gone lower. Stops are not part of your system, but I could not convince myself that I could let the trade go against me because it was counter-trend and in the bear (corrective) market. I would have re-entered lower, of course, if stopped out.