As a trader that can't

    Posted by bpozdoll on 15th of Nov 2018 at 10:40 am

    As a trader that can't day trade but position trades, I need a little help.  Matt and Steve are great but the SPY system has us triple long.  But the commentary from Matt talks about a bear market and "nice" declines.  How do we reconcile the two?   Are they in the market themselves  with the SPY system and just holding on?   Any guidance would be helpful 

    bpozdoll - I've covered what

    Posted by matt on 15th of Nov 2018 at 11:17 am

    bpozdoll - I've covered what happened with the SPY system in videos and newsletters, talked about it on Monday again. For years we had the SPY system here and I bought a newer version last year with all the sub systems etc, which added complication when honestly the original SPY system worked just fine.  My intention was good but the implementation was bad. 

    Anyway I'll be adding the original spy system back very soon as I discussed in Monday's newsletter, I'll also have to re-do the SPY system section completely as well.  Also once I take the SPY system back to the old format, I'll also be giving SPY call and put suggestions for each trade in addition to the SPY, SSO, and UPRO shares because options appear to be a nice feature to limiting one's risk. 

    Anyway for this current trade it's tough to know what to do.  The system closed out the trade that was first entered a while back as I covered. However the system is back long via the Bull Exhaustion, this as I showed on Monday, which the original system would also be long.  So  do I close out the trade and say hey guys the system is closing out, oh and it's going back long, so sell and buy again?  That's the big conundrum I have at the moment. Again once this trade closes out it will be easy going forward, we just follow the system as is. Again I've apologized for the confusion, the reason we are in this mess is because my choice to hold the trade based off those other sub systems, which again is why after this I'm taking the system back to how it was. With all the sub systems I added a while back, sending signals for the combined system and for each sub system added a lot of confusion and basically added too many decision points i.e. the combined system is doing this, these other 2 sub systems are doing that, I choose to do this one, and the other one etc.  Again I greatly apologize for that mess, wish I had a Tardis like Dr Who and could go back in time, but I can't only thing I can do is make it right going forward. 

    Again currently the system I will be using going forward is long via the Bull Exhaust.  I think at this point anyone like you if you are still holding just has to make a decision to continue holding until that bull exhaust (the main system) closes out, or close out now, or just put a stop on your position that you are comfortable with.  The market is either going to rally again in that wave c of B as we've been talking about, or have a washout sell off to new lows to complete C and spike the VIX back way back up.  

    currently the market is well off the lows today, one could just place a stop somewhere below today's lows.  Again I'm not a financial adviser so you have to make that call.  

    I'll be doing a video sometime soon on the SPY system showing you the version we are going to use going forward and my plans for calling out trades, and keeping it stupid simple KISS. 

    Also as someone like you who works a job, you are correct that many of our short-term trade ideas from the newsletter might be tough to do.  You can still do them, one thing I've talked about is placing GTC buy stop limit orders on some of the best long positions that night, and those trades will trigger on their own during the day when you are working. The limit order is to prevent you from buying at too bad of a price such as on a big gap up.  However when doing this you have to be picky and try to pick just a few of the best ones you can.  

    However another thing you can do is focus on only major infection points for longer swing trades,  I'd say 3 - 6 times a year we identify major swing opportunities in a sector where one can be in a trade for 1 - 3 months or longer.  Coffee and Sugar were good examples earlier this fall - they had huge rallies that lasted a couple months.  GDX wasn't a bad trade either off the Sept lows and we said it was a swing trade opportunity.  Again things like that don't show up that often, so much of the time you would be on the sidelines, but they do show up a handful times of a year and would be something you could trade working a job since they be something you could hold for days and weeks at a time with a stop

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