Posted by hamvestor on 20th of Jan 2016 at 10:29 am
I asked the same question last night and my post later
"disappeared." I'd be interested in the answer to your question, as
I'm sure others would be too.
I hope I did not cause anyone to feel a certain type of way with
my response.
And yes, I stated 10.5% in the first email that went out way
before the market opened. However, I am not going to assume that
with all the changes mentioned to the new SPY Pro and the
components from other systems that were brought over, that the stop
could not be modified to say, 5% for bear market longs, or even 4%
for trades that lasted longer than X amount of days. As the SPX
approached 1800, 4%-5% was not that far away from the first
entry.
So with a market breaking thru multiple years of lows/support
and a new SPY Pro System of which I do not normally trade --
because I am an all cash at 4:00 PM type of trader -- I felt
compelled to follow up on the site immediately.
And for newbies allow me to clarify. BPT does an exceptional job
of speaking to its members, and they do so promptly. I have spoken
with Matt or Steve at crazy hours when considering their families'
needs. And trading the markets is complex enough as just one
trader, but when an army of traders counts on you to back test
their analysis, the job of BPT becomes a large task (and I am sure
overwhelming at times). My comments do not mean that any BPT
employee is not responsive and willing to help with a
passion.
Posted by zboy2854 on 20th of Jan 2016 at 12:35 pm
That's true Matt, but to be fair, the overview page also says
that there is "other stop loss protection which can be hit well
before the 10.5% stop loss." That's what I was wondering about--if
there was any dynamic changes to the stop, given how treacherous
this environment seems to be.
I understand fully guys believe me and this is an emotional
time. That said - the system needs a bounce to exit at this
time otherwise that hard stop. Always best to exit on a
bounce vs a stop, so hopefully that stop is not hit
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Stop loss settings for SPY pro?
Posted by zboy2854 on 20th of Jan 2016 at 10:08 am
Are there stops currently set for the SPY pro trades?
I asked the same question
Posted by hamvestor on 20th of Jan 2016 at 10:29 am
I asked the same question last night and my post later "disappeared." I'd be interested in the answer to your question, as I'm sure others would be too.
Matt, WE would like to hear from you about the stop.
Posted by zitron on 20th of Jan 2016 at 11:50 am
I have privately emailed you about this and you danced around the question as well.
danced around? no, your comment
Posted by matt on 20th of Jan 2016 at 12:02 pm
danced around? no, your comment could have been worded better
SPY Pro has always had a hard stop at 10.5%, way down around 169, quite far away. that's been on the website forever
You are right, Matt.
Posted by zitron on 20th of Jan 2016 at 08:48 pm
I hope I did not cause anyone to feel a certain type of way with my response.
And yes, I stated 10.5% in the first email that went out way before the market opened. However, I am not going to assume that with all the changes mentioned to the new SPY Pro and the components from other systems that were brought over, that the stop could not be modified to say, 5% for bear market longs, or even 4% for trades that lasted longer than X amount of days. As the SPX approached 1800, 4%-5% was not that far away from the first entry.
So with a market breaking thru multiple years of lows/support and a new SPY Pro System of which I do not normally trade -- because I am an all cash at 4:00 PM type of trader -- I felt compelled to follow up on the site immediately.
And for newbies allow me to clarify. BPT does an exceptional job of speaking to its members, and they do so promptly. I have spoken with Matt or Steve at crazy hours when considering their families' needs. And trading the markets is complex enough as just one trader, but when an army of traders counts on you to back test their analysis, the job of BPT becomes a large task (and I am sure overwhelming at times). My comments do not mean that any BPT employee is not responsive and willing to help with a passion.
That's true Matt, but to
Posted by zboy2854 on 20th of Jan 2016 at 12:35 pm
That's true Matt, but to be fair, the overview page also says that there is "other stop loss protection which can be hit well before the 10.5% stop loss." That's what I was wondering about--if there was any dynamic changes to the stop, given how treacherous this environment seems to be.
I understand fully guys believe
Posted by matt on 20th of Jan 2016 at 12:36 pm
I understand fully guys believe me and this is an emotional time. That said - the system needs a bounce to exit at this time otherwise that hard stop. Always best to exit on a bounce vs a stop, so hopefully that stop is not hit