LOL talk about a quickie, looks like the SPY Pro system, which
took a long trade yesterday will be closing out it's long trade
tomorrow morning on the open. The momentum indicator that
governs this trade is still red.
honestly since the trade was emailed out late yesterday quite a
few didn't take the long, you could have bought this morning when
the market was down nicely for a good price. I know at least
one guy who did that, but honestly I doubt most did.
tomorrow morning the SPY system will be closing out its long on
the open. I didn't get a chance to discuss this in the
newsletter, however sometimes what I've seen is that the momentum
indicator, which was red on the previous day where the system made
its decision to sell, turns green on the open. I've noticed
in that past that one could continue to hold the trade when this
occurs with a tight stop. Realize this is OUTSIDE the system,
generally I've observed you could place a stop at the lows of the
first 15 or 20 min in the morning. I'll let you know if the
indicator turns red on the open or not tomorrow morning, but I
won't know until the market opens
those trades work out best when they come out of more oversold
conditions honestly, so not a bad think to be out imo.
the trade type itself was the Strap, that's a shallow pullback
trade that is short term only.
I was just going to show you guys, on the new SPY Pro system
section, I gave give the the statistics to the individual trade
types, however I just noticed that my programmer completely broke
that section, the page is blank, ugh! He resides in Portland
and is typically not up right now to fix. I will show you
later that functionality
That would be excellent Matt - I'd love to know the statistics
for the individual trade types . Are you planning on including
the trade type name when you post the Spy Pro system trades in the
future ?
Just to echo what Ship said, I really appreciate all
that you and Steve do on this site.
YES I plan to share information like which trade type it is and
overall statistics for that individual trade type. There's 22
trade types or sub systems, so you will have the ability to look at
the individual statistics for each sub system basically. That
functionality has been there, I just haven't showed you how to use
it yet. Of course the section is down today right now, will
be up later.
Posted by frtaylor on 17th of Aug 2016 at 10:25 pm
One can always sell 1/2 at the open regardless of indicator
change, then set a stop for the rest (break even, 1% below the
open, yesterday's low, low at the 9:50 am mark, etc.).
Posted by bravestar on 17th of Aug 2016 at 05:53 pm
Last night because of SPY trade I bought XIV & sold
them before FOMC, cause market was already up, and some SSO where i
have a small profit, and I have 219 SPY calls bought today. Not
sure the best way to get out on open. Will listen to
newsletter. I cannot afford to buy SPY equity. XIV works
well.
SPY Pro system may close out
Posted by matt on 17th of Aug 2016 at 03:59 pm
LOL talk about a quickie, looks like the SPY Pro system, which took a long trade yesterday will be closing out it's long trade tomorrow morning on the open. The momentum indicator that governs this trade is still red.
honestly since the trade was emailed out late yesterday quite a few didn't take the long, you could have bought this morning when the market was down nicely for a good price. I know at least one guy who did that, but honestly I doubt most did.
I'll discuss tonight in the newsletter
tomorrow morning the SPY system
Posted by matt on 17th of Aug 2016 at 08:14 pm
tomorrow morning the SPY system will be closing out its long on the open. I didn't get a chance to discuss this in the newsletter, however sometimes what I've seen is that the momentum indicator, which was red on the previous day where the system made its decision to sell, turns green on the open. I've noticed in that past that one could continue to hold the trade when this occurs with a tight stop. Realize this is OUTSIDE the system, generally I've observed you could place a stop at the lows of the first 15 or 20 min in the morning. I'll let you know if the indicator turns red on the open or not tomorrow morning, but I won't know until the market opens
The market just opened, the
Posted by matt on 18th of Aug 2016 at 09:30 am
The market just opened, the momo indicator on the SPY remained red, so no go.
Well let me rephrase that:
Posted by matt on 18th of Aug 2016 at 09:33 am
Well let me rephrase that: The system uses 2 momentum indicators, one turned green on stayed red
Honestly if you wanted to keep a position with a stop at this morning lows I don't see a problem with that, that's uber tight
here's the chart, you can
Posted by matt on 18th of Aug 2016 at 09:35 am
here's the chart, you can see the two momo indicators, one turned green, one stayed red.
as far as setting a stop, one could use a 15 morning low rule, i.e. set a stop at the low of the first 15 min or so.
sell 1/2 like frtaylor or something like that etc
divergence on the RSI 5
Posted by frtaylor on 18th of Aug 2016 at 09:40 am
divergence on the RSI 5 on 5 min chart, and > 1/2 of the opening candle has been taken back. Update - was stopped out of rest.
those trades work out best
Posted by matt on 18th of Aug 2016 at 09:48 am
those trades work out best when they come out of more oversold conditions honestly, so not a bad think to be out imo.
the trade type itself was the Strap, that's a shallow pullback trade that is short term only.
I was just going to show you guys, on the new SPY Pro system section, I gave give the the statistics to the individual trade types, however I just noticed that my programmer completely broke that section, the page is blank, ugh! He resides in Portland and is typically not up right now to fix. I will show you later that functionality
That would be excellent Matt
Posted by peterjennings71 on 18th of Aug 2016 at 10:04 am
That would be excellent Matt - I'd love to know the statistics for the individual trade types . Are you planning on including the trade type name when you post the Spy Pro system trades in the future ?
Just to echo what Ship said, I really appreciate all that you and Steve do on this site.
thanks a bunch for the
Posted by matt on 18th of Aug 2016 at 10:10 am
thanks a bunch for the feedback everyone.
YES I plan to share information like which trade type it is and overall statistics for that individual trade type. There's 22 trade types or sub systems, so you will have the ability to look at the individual statistics for each sub system basically. That functionality has been there, I just haven't showed you how to use it yet. Of course the section is down today right now, will be up later.
Spy Trade
Posted by ship on 18th of Aug 2016 at 09:55 am
It was a great trade, regardless quick or not! Thanks for all you guys do
pulled the trigger on 1/2.
Posted by frtaylor on 18th of Aug 2016 at 09:33 am
pulled the trigger on 1/2. Stop tight.
One can always sell 1/2
Posted by frtaylor on 17th of Aug 2016 at 10:25 pm
One can always sell 1/2 at the open regardless of indicator change, then set a stop for the rest (break even, 1% below the open, yesterday's low, low at the 9:50 am mark, etc.).
definitely man
Posted by matt on 17th of Aug 2016 at 11:05 pm
definitely man
Matt, you ready to go
Posted by frtaylor on 18th of Aug 2016 at 09:26 am
Matt, you ready to go on that momo signal for Spy Pro? I'm also watching ES, if it drops ~ 2-3 pts below the 8 am low, I will sell 1/2 or all.
SPY Pro
Posted by bravestar on 17th of Aug 2016 at 05:53 pm
Last night because of SPY trade I bought XIV & sold them before FOMC, cause market was already up, and some SSO where i have a small profit, and I have 219 SPY calls bought today. Not sure the best way to get out on open. Will listen to newsletter. I cannot afford to buy SPY equity. XIV works well.
I took the trade this morning.
Posted by bropain on 17th of Aug 2016 at 05:17 pm
Thank you. Your system strongly influenced my decision to buy SPY calls this morning. Great trade. Great system.
nice job man!
Posted by matt on 17th of Aug 2016 at 05:47 pm
nice job man!