On the SPY system, as you know it's really 19 individual systems
grouped together. In the past all the systems were on one
chart, I then moved to the high probability version where I removed
a few of the higher risk sub systems (used to be 22 sub systems)
and also tightened up the ones that were left. Because there are
fewer trades I grouped the sub systems into several charts, one
chart has 9 of the long sub systems on it (see the first image
upper middle chart), while all the 8 short systems were on another
chart (see first image bottom left). I then have a few systems on
their own chart such as the CCI, an Trend.
anyway I wonder if it just makes sense to not even group them
anymore, instead just send signals for each sub system as they
trigger, the 2nd and 3rd images show all the Long Sub systems and
all the Short Sub systems. It would also fit the new name from SPY
Pro system to SPY Pro High Probability Systems.
However the one caveat is that there will be more overlap. As I
currently have 9 of the Long systems on one chart and 8 of the
shorts on another, doing that only allows one trade on those charts
to show up at a time. If I were to instead just send trade signals
out for each sub system realize there will be a lot more overlap. I
I don't have the statistics, but there could be rare times when 3
or 4 sub systems all get into overlapping trades with 2nd and 3rd
entries on some of them.
anyway you can let me know your thoughts, keep it like I have it
or just do all the sub systems?
also to keep the trading community clean for market posts, send
me a private message instead of replying publicly to this post.
thanks
Matt, as many have stated already, please leave it as simplistic
as possible. Like others, working a full time job and utilizing the
new Spy Pro System has been a great tool!
Just my humble opinion here, I realize you have an
extremely technical mind and want to share as well as do
what's best for the membership, but sometimes multiple
systems can lead to "analysis paralysis" and generate confusion and
doubt.
Again just my view, so far the new Spy Pro is doing
extremely well. If it isn't broken or doesn't need modifications,
might be best to leave as is until performance proves
otherwise.
Agree that for those of us that can't be day trading and
watching things all the time due to regular jobs / other
commitments, as simple as possible having just one system that is
either in or out is preferable to me and negates confusion.
Posted by Breakdown on 15th of Jul 2019 at 12:11 pm
i don't day trade, but i'm able to log in the community blog
around opening and closing to see if matt has made a comment about
the system. i don't think that there is a simple system for
everyone, but i'm afraid if it's "tweaked", it might not be as
good. imho.
yeah I mean guys it's the same system or systems, there just
might be a few more trades when the market really pulls back hard
because instead of sub systems that get covered up because on the
same chart you would see them
Matt, I have pondered ways to quantify the state of the system.
By that I mean some kind of scoring to include the state of the
multiple systems. Something like adding the
profitability scores of each active component. Since the
systems represent different strategies, maybe multiple indexes like
Reversion to mean, momentum, trending, etc.
Just a thought or two. Thanks for your many hours on systems. I
think they speak to those of us who are not able to profit from the
watch list. For example, I have continued to be a member
primarily for the analysis and the systems.
Hi Matt, I'm new to the site so can I ask when do you send the
signals for the SPY system (time of day)? Do you send these signals
via email? Is there any data going further back or is it not
posted because you have revamped the system? I'm looking forward to
participating going forward. Thanks!
Hello and welcome! Yes one of the things I need to do is
put up pages in the SPY section showing trade examples, past
history, and an FAQ. Never seems like there's time in the day
for me to work on it lately.
The way signals are sent are 3 fold really. One I post
them here on the trading community blog, and I make then a sticky
post that day. Two I of course email out the trade signals. The
caveat is that many times the signals can't be confirmed until near
the close of the day. For ETF's this is not an issue as they trade
until 8 pm EST in the after hrs market and are highly liquid. For
options you have 15 min to enter them after the market closes. I
also send out an SMS message. We are also working on an IOS/Android
app that once completed will be in the Apple Store and Google Play
Store, you will be able to install them on you phone as apps and we
will be able to push notifications to your phone's drop down
notification menu.
Thank you, this is really helpful knowing how the signals are
sent out. I will check with Etrade and make sure I have the option
to trade the etf afterhours.
And also, when you get the chance on the back data, trade
examples and FAQs that would be great although I know you are super
busy. I am looking forward to trading the signals and being a
part the community here.
I like the various charts as I take multiple entries. With the
Micro contracts the risk is so much more reduced and I am able to
stretch the stop loss to a proper position. No stop outs yet since
the re-launch.
A few more comments though.
1. Do we manage to catch most big sell-offs or is there a way we
can get into more of them.
2. i am waiting for a catching a long trend system not only the
breakout system.
3. Love your options option(pun intended). I trade the signals
with futures on Tradestation and the options on thinkorswim.
Posted by chadtech on 12th of Jul 2019 at 11:34 pm
The more broken out the better. If I know 3 different long
systems wanted to be long it would give me more confidence to trade
around it intraday on 60 min charts and such.
remember it's already not one set, it's in-between, spread
around 6 charts. I don't think it's optimal to take those back to
one chart, at minimum I think shorts need to be on their own chart
and longs on their on chart. otherwise that's why I suggested
instead of being in the middle like we are just go full individual
systems, would fit the name SPY Pro High Probability Systems
instead of system.
Posted by chapgolf on 12th of Jul 2019 at 04:03 pm
The SPY system is very useful to me. I have a full time
job and can't be in front of the computer every day. I like
that I can buy after the market closes and once a higher low is
established, can move my stop accordingly. I like that it can
take different types of trades including shorts. I expect to
be underwater when getting established in positions.
Something I need to develop better is where to close the
trade out if it doesn't work. I joined because of the SPY
system but have come to use the !PMOBUYALL, $BPSPX Renko, and the
$BPGDM chart as well. I am tickled pink to say the least.
Thank you.
Posted by cape_rover on 12th of Jul 2019 at 03:30 pm
I like the way you have identified the high percentage trading
systems but I miss the old systems as a mechanical ‘check’ to my
own personal trading strategy. It would be nice to apply your
systems to the Dow qqq and iwm. I like the Addition of option
trades.
thanks for the feedback, I also think the educational stuff we
show and discuss is really beneficial.
on a side note we are still working on an IOS/Android app,
hopefully we can have a beta version of that sometime in late July
or Aug. I think notifications will also be easier though that
vs email
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SPY system comments and feedback needed
Posted by matt on 12th of Jul 2019 at 10:44 am
On the SPY system, as you know it's really 19 individual systems grouped together. In the past all the systems were on one chart, I then moved to the high probability version where I removed a few of the higher risk sub systems (used to be 22 sub systems) and also tightened up the ones that were left. Because there are fewer trades I grouped the sub systems into several charts, one chart has 9 of the long sub systems on it (see the first image upper middle chart), while all the 8 short systems were on another chart (see first image bottom left). I then have a few systems on their own chart such as the CCI, an Trend.
anyway I wonder if it just makes sense to not even group them anymore, instead just send signals for each sub system as they trigger, the 2nd and 3rd images show all the Long Sub systems and all the Short Sub systems. It would also fit the new name from SPY Pro system to SPY Pro High Probability Systems.
However the one caveat is that there will be more overlap. As I currently have 9 of the Long systems on one chart and 8 of the shorts on another, doing that only allows one trade on those charts to show up at a time. If I were to instead just send trade signals out for each sub system realize there will be a lot more overlap. I I don't have the statistics, but there could be rare times when 3 or 4 sub systems all get into overlapping trades with 2nd and 3rd entries on some of them.
anyway you can let me know your thoughts, keep it like I have it or just do all the sub systems?
also to keep the trading community clean for market posts, send me a private message instead of replying publicly to this post. thanks
Matt, as many have stated
Posted by rfa300 on 15th of Jul 2019 at 11:09 am
Matt, as many have stated already, please leave it as simplistic as possible. Like others, working a full time job and utilizing the new Spy Pro System has been a great tool!
Just my humble opinion here, I realize you have an extremely technical mind and want to share as well as do what's best for the membership, but sometimes multiple systems can lead to "analysis paralysis" and generate confusion and doubt.
Again just my view, so far the new Spy Pro is doing extremely well. If it isn't broken or doesn't need modifications, might be best to leave as is until performance proves otherwise.
Agree that for those of
Posted by blayden on 15th of Jul 2019 at 11:58 am
Agree that for those of us that can't be day trading and watching things all the time due to regular jobs / other commitments, as simple as possible having just one system that is either in or out is preferable to me and negates confusion.
Thanks!
i don't day trade, but
Posted by Breakdown on 15th of Jul 2019 at 12:11 pm
i don't day trade, but i'm able to log in the community blog around opening and closing to see if matt has made a comment about the system. i don't think that there is a simple system for everyone, but i'm afraid if it's "tweaked", it might not be as good. imho.
yeah I mean guys it's
Posted by matt on 15th of Jul 2019 at 12:25 pm
yeah I mean guys it's the same system or systems, there just might be a few more trades when the market really pulls back hard because instead of sub systems that get covered up because on the same chart you would see them
Matt, I have pondered ways
Posted by jroger on 15th of Jul 2019 at 10:39 am
Matt, I have pondered ways to quantify the state of the system. By that I mean some kind of scoring to include the state of the multiple systems. Something like adding the profitability scores of each active component. Since the systems represent different strategies, maybe multiple indexes like Reversion to mean, momentum, trending, etc.
Just a thought or two. Thanks for your many hours on systems. I think they speak to those of us who are not able to profit from the watch list. For example, I have continued to be a member primarily for the analysis and the systems.
Hi Matt, I'm new to
Posted by cozz101 on 13th of Jul 2019 at 08:39 pm
Hi Matt, I'm new to the site so can I ask when do you send the signals for the SPY system (time of day)? Do you send these signals via email? Is there any data going further back or is it not posted because you have revamped the system? I'm looking forward to participating going forward. Thanks!
Hello and welcome! Yes one
Posted by matt on 14th of Jul 2019 at 12:48 am
Hello and welcome! Yes one of the things I need to do is put up pages in the SPY section showing trade examples, past history, and an FAQ. Never seems like there's time in the day for me to work on it lately.
The way signals are sent are 3 fold really. One I post them here on the trading community blog, and I make then a sticky post that day. Two I of course email out the trade signals. The caveat is that many times the signals can't be confirmed until near the close of the day. For ETF's this is not an issue as they trade until 8 pm EST in the after hrs market and are highly liquid. For options you have 15 min to enter them after the market closes. I also send out an SMS message. We are also working on an IOS/Android app that once completed will be in the Apple Store and Google Play Store, you will be able to install them on you phone as apps and we will be able to push notifications to your phone's drop down notification menu.
Thank you, this is really
Posted by cozz101 on 14th of Jul 2019 at 04:31 pm
Thank you, this is really helpful knowing how the signals are sent out. I will check with Etrade and make sure I have the option to trade the etf afterhours.
And also, when you get the chance on the back data, trade examples and FAQs that would be great although I know you are super busy. I am looking forward to trading the signals and being a part the community here.
Matt, I like the various charts
Posted by mundy on 13th of Jul 2019 at 03:45 am
Matt,
I like the various charts as I take multiple entries. With the Micro contracts the risk is so much more reduced and I am able to stretch the stop loss to a proper position. No stop outs yet since the re-launch.
A few more comments though.
1. Do we manage to catch most big sell-offs or is there a way we can get into more of them.
2. i am waiting for a catching a long trend system not only the breakout system.
3. Love your options option(pun intended). I trade the signals with futures on Tradestation and the options on thinkorswim.
Thanks for your input. Keep trucking.
Mundy
The more broken out the
Posted by chadtech on 12th of Jul 2019 at 11:34 pm
The more broken out the better. If I know 3 different long systems wanted to be long it would give me more confidence to trade around it intraday on 60 min charts and such.
Hi Matt. Love the systemðŸ‘
Posted by jacob_lee_pharmd on 12th of Jul 2019 at 04:05 pm
Hi Matt. Love the system👠But would like to have one set and not multiple. To keep in simple. Thanks
multiple systems allow me to
Posted by Breakdown on 12th of Jul 2019 at 04:07 pm
multiple systems allow me to add to my position.
Agree - I would prefer
Posted by skyhansen on 12th of Jul 2019 at 06:32 pm
Agree - I would prefer individual charts for each and would manage (add or subtract) as appropriate to positions
remember it's already not one
Posted by matt on 12th of Jul 2019 at 04:06 pm
remember it's already not one set, it's in-between, spread around 6 charts. I don't think it's optimal to take those back to one chart, at minimum I think shorts need to be on their own chart and longs on their on chart. otherwise that's why I suggested instead of being in the middle like we are just go full individual systems, would fit the name SPY Pro High Probability Systems instead of system.
Agreed. One long and one
Posted by jacob_lee_pharmd on 12th of Jul 2019 at 06:02 pm
Agreed. One long and one short would be great
The SPY system is very
Posted by chapgolf on 12th of Jul 2019 at 04:03 pm
The SPY system is very useful to me. I have a full time job and can't be in front of the computer every day. I like that I can buy after the market closes and once a higher low is established, can move my stop accordingly. I like that it can take different types of trades including shorts. I expect to be underwater when getting established in positions. Something I need to develop better is where to close the trade out if it doesn't work. I joined because of the SPY system but have come to use the !PMOBUYALL, $BPSPX Renko, and the $BPGDM chart as well. I am tickled pink to say the least. Thank you.
I like the way you
Posted by cape_rover on 12th of Jul 2019 at 03:30 pm
I like the way you have identified the high percentage trading systems but I miss the old systems as a mechanical ‘check’ to my own personal trading strategy. It would be nice to apply your systems to the Dow qqq and iwm. I like the Addition of option trades.
I've only been here for
Posted by retirefire on 12th of Jul 2019 at 11:11 am
I've only been here for the last entry. System is easy to comprehend and use. Very satisfied with Breakpoint Trades
thanks for the feedback, I
Posted by matt on 12th of Jul 2019 at 12:18 pm
thanks for the feedback, I also think the educational stuff we show and discuss is really beneficial.
on a side note we are still working on an IOS/Android app, hopefully we can have a beta version of that sometime in late July or Aug. I think notifications will also be easier though that vs email