SPY Pro system may do a long today

    Posted by matt on 13th of Jan 2016 at 02:49 pm

    The SPY Pro system may take a long trade today at the close, this is an early heads up. However I'm not going to be able to verify until a few min after the close.  Anyway nice trade on the SPY system yesterday, closed that long trade out in nick of time, today we've seen a 60 point reversal from the highs.

    If the system does a trade, I'll confirm it here on the Trading Community Blog

    SPY old and new Trade rules

    Posted by bobkoz on 14th of Jan 2016 at 04:33 pm

    Matt,

    Can you set up a dedicated page (not here in bits and pieces) to include all the proper SPY trade Rules.  I knew about the 60/40 but read nothing about scaling out.

    I never received an email stating a profit target of selling 20% of a position after a 1.25% gain and another 20% after a 2.75% gain, but it doesn't sound like you sent one.

    Your system makes some nice SPY trades but I've only been here a short time and I only for the SPY system......... I don't have enough room on my 3 monitors to keep your Blog up all day waiting for instructions.

    bobkoz - so the scaleouts

    Posted by matt on 14th of Jan 2016 at 08:26 pm

    bobkoz - so the scaleouts are listed right in the mechanical systems section of the website under the SPY Pro tab under the overview, things like targets etc.  everything is right there and has been for a couple years.  

    That said remember my discussions about the NEW Spy system, I've been discussing this New revamped SPY system that I've been building over the last month in newsletters and here on the blog, it is not yet complete 100%.  I don't know if I'll use the scaleouts or not, we are sort of in a quasi in-between state here.  I'm sending trade signals to the system even though I"m not 100% finished with it yet nor have I decided everything like scale outs etc, or if I'm going to keep the Three SPY systems now on the website (SPY Pro, SPY Ver 2, SPY RSI 2) or simply it all into one system.  

    today I simply mentioned the scaleouts because the Original SPY Pro would have hit one of the scaleouts today and if you were nervous about the market, you could consider selling some to lock in some gains. But that was not something I emailed out, was simply something I said here in case some felt like locking in some gains after the big move.   

    The final version of the SPY system may or may not have profit targets and if it does, they may be different. 

    Matt - Thanks for the

    Posted by bobkoz on 15th of Jan 2016 at 09:37 am

    Matt - Thanks for the reply, today being Friday looks like I should have taken 100% off the table last night.  Can't wait to see the new SPY system after completion....

    Guys - the original SPY

    Posted by matt on 14th of Jan 2016 at 03:20 pm

    Guys - the original SPY Pro system had profit targets of selling 20% of the position after a 1.25% gain and another 20% after a 2.75% gain.  

    I don't have profit targets setup right now in the system, I may add them, but as I stated, I'm not finished with it yet.  

    Anyway the 1.25% would have been more than achieved thus far if you wished to lock in some gains.  The 2.75% gain comes in at $194, which was missed by about 75 cents only so far

    On the new SPY system,

    Posted by matt on 14th of Jan 2016 at 10:50 am

    On the new SPY system, most longs now actually exit on the close instead of the open.  I have not decided fully yet on all the settings.  The old trade settings for the longs still close out on the open of the next day.

    Also as I stated before, I added a ton of new trade types, so in order to give you an example, here's a snapshot of the program, the top one called BPT QE BTS 15 is the old SPY Pro strategy, all the ones below are new trade modules that work on top of the old strategy, new trade types basically, Bear long, long strong trend pullback, DVDS short, etc etc 

    none of that helps you of course, it's just an example how trade types I added as a modular basis

    Hi Matt , one question

    Posted by cuqui69 on 14th of Jan 2016 at 11:06 am

    Hi Matt , one question regarding the returns table that you published a while back... regarding the math of those returns......when someone has a 100k portfolio how much you invest for the 2 entry? another 100k or you just take 50k on 1st entry and 50k on the 2nd entry?

    I will appreciate your comments for the members. 

    Also I have send you some emails to your inbox regarding some technical isssus but have not heard from you!

    I base the entries 60/40,

    Posted by matt on 14th of Jan 2016 at 11:11 am

    I base the entries 60/40, 60% for first entry, 40% for second entry.  I use multiples of 10 so that % calculations are easy, so $10,000 or $100,000 whatever.  

    as far as amount to invest - I'm not an investment adviser, you have to make that decision.  I simply say, stay in your comfort zone, don't invest 100% of your capital in system trades or even 50%, don't over leverage and margin.  Start small and once you have a string of winners with profits, then you are in a better stop to be more aggressive.  

    Also forgot to tell you

    Posted by cuqui69 on 14th of Jan 2016 at 11:10 am

    Also forgot to tell you that on the chart the the stochastics 60,3 short sell is not included in the chart! Are you planning to leave out this type of trade from the new SPY improve version? 

    yes it's on there, it's

    Posted by matt on 14th of Jan 2016 at 11:12 am

    yes it's on there, it's in the old SPY system QE BTS, so I didn't need to add a module for it as it's already here.

    let's get back to focusing on the market, otherwise Steve's and My market charts/trade ideas get buried 

    what's the number on SPY

    Posted by junkie on 13th of Jan 2016 at 02:53 pm

    what's the number on SPY below which there is a trade? I will enter a limit order at the close to buy below that level.

    I can't tell you that,

    Posted by matt on 13th of Jan 2016 at 02:54 pm

    I can't tell you that, it's a moving number based on various indicators, best to wait for close vs me trying to give you a number that changes or is wrong

    Congrats on this system trade.  

    Posted by blorrilliere on 14th of Jan 2016 at 03:28 pm

    Congrats on this system trade.   Looked scary after the open, but this one deserves an asterisk for taking a long in severe downtrend.

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