Possible long today on the SPY Pro system should the market
close down enough. I can't give you the levels at this time,
best to confirm near or at the close
One thing I've noticed so many times, but there's no easy way to
back test this, is there have been tons of instances where
the system was giving a buy signal most of the day, but is then was
lost the last 1 - 2 hrs of the day as the market rallied off an
intra day divergent low. I've probably seen 30 plus of these
instances over the past few years, I call them phantom trades,
because you don't see them on the system, but intra day they were
there.
One strategy would be to buy a partial position mid day if the
system is giving a buy signal. Then if the signal is gone by the
close because the market rallied up off the lows, you can then
close the trade out for a nice day trade at the close. And if
the market went lower and confirmed the trade at the close, well
you add to your position.
SPY Pro system possible trade today
Posted by matt on 2nd of Aug 2016 at 01:48 pm
Update - No Trade
Possible long today on the SPY Pro system should the market close down enough. I can't give you the levels at this time, best to confirm near or at the close
One thing I've noticed so
Posted by matt on 2nd of Aug 2016 at 05:54 pm
One thing I've noticed so many times, but there's no easy way to back test this, is there have been tons of instances where the system was giving a buy signal most of the day, but is then was lost the last 1 - 2 hrs of the day as the market rallied off an intra day divergent low. I've probably seen 30 plus of these instances over the past few years, I call them phantom trades, because you don't see them on the system, but intra day they were there.
One strategy would be to buy a partial position mid day if the system is giving a buy signal. Then if the signal is gone by the close because the market rallied up off the lows, you can then close the trade out for a nice day trade at the close. And if the market went lower and confirmed the trade at the close, well you add to your position.
I have done this a few times and has worked out, but not kept count of it
Posted by kattap on 3rd of Aug 2016 at 01:18 am
Sounds like a great idea.
Posted by EdZ on 2nd of Aug 2016 at 07:10 pm
Sounds like a great idea.
most likely no entry for
Posted by matt on 2nd of Aug 2016 at 03:47 pm
most likely no entry for the SPY Pro system, we've rallied to much off the lows