As you know yesterday we entered a
new SPY System trade late morning via a new sub system I discussed
in the weekend newsletter, and I also discussed yesterday in a
follow up detailed email.
Anyway I know this is fast, but the
system is closing out the trade at today's close. This sub
system has one of the shorter hold times, about 6 days on average,
this one is only a day however realize that technically it would
have entered on Friday, however I just coded the system conditions
on the weekend and is why we entered it on Monday instead during
the day.
Also even though the SPY system is
closing out today.
Another optionfor those who may want to continue holding the
trade instead of closing it out if you think the market will
push higher (which I could see happening) a strategy for you to do
is simply place a stop on SPY at a higher low such as $296.96 or
place it at your entry price yesterday for break even.
yet another option would be to close out the option trade since
it's up 2.5 times the ETF. and keep the SPY shares with a
stop simply at entry price yesterday breakeven since the ETF isn't
up that much. again depends on the size you did, I show 10K for
simplicity, if you put 50K in it or 100K then you would have
substantially more
remember my comments from earlier in the week, I said one could
just keep the ETF shares from the SPY system with a stop at
breakeven because I thought the market was going to go higher, was
a good call.
honestly I should have just done that for the website, close out
the option, but keep the ETF with a stop at break even since I
think we push higher. oh well, at least we booked another one,
that's 7 trades on ETF's and options or 14 total since May 8th.
SPY System exiting at the close
Posted by matt on 23rd of Jul 2019 at 03:32 pm
As you know yesterday we entered a new SPY System trade late morning via a new sub system I discussed in the weekend newsletter, and I also discussed yesterday in a follow up detailed email.
Anyway I know this is fast, but the system is closing out the trade at today's close. This sub system has one of the shorter hold times, about 6 days on average, this one is only a day however realize that technically it would have entered on Friday, however I just coded the system conditions on the weekend and is why we entered it on Monday instead during the day.
Also even though the SPY system is closing out today. Another optionfor those who may want to continue holding the trade instead of closing it out if you think the market will push higher (which I could see happening) a strategy for you to do is simply place a stop on SPY at a higher low such as $296.96 or place it at your entry price yesterday for break even.
yet another option would be
Posted by matt on 23rd of Jul 2019 at 03:42 pm
yet another option would be to close out the option trade since it's up 2.5 times the ETF. and keep the SPY shares with a stop simply at entry price yesterday breakeven since the ETF isn't up that much. again depends on the size you did, I show 10K for simplicity, if you put 50K in it or 100K then you would have substantially more
remember my comments from earlier
Posted by matt on 26th of Jul 2019 at 11:40 am
remember my comments from earlier in the week, I said one could just keep the ETF shares from the SPY system with a stop at breakeven because I thought the market was going to go higher, was a good call.
honestly I should have just
Posted by matt on 23rd of Jul 2019 at 04:14 pm
honestly I should have just done that for the website, close out the option, but keep the ETF with a stop at break even since I think we push higher. oh well, at least we booked another one, that's 7 trades on ETF's and options or 14 total since May 8th.
Just stick to the rules
Posted by sonofrebel on 23rd of Jul 2019 at 04:16 pm
Just stick to the rules you have worked so hard on - and leave it to us to break them!
aha ha ha, good point
Posted by matt on 23rd of Jul 2019 at 04:25 pm
aha ha ha, good point