it's intra day not close, the concept there is protection if the
market had a 10 or 15% correction in one day you don't want to wait
for the close and exit 5 or 10% below the stop , you want to be out
when the markets only down a couple percent in the morning at or
near the stop price. I intend the stop to be intra-day for
protection against those rare Market crashes flash crash Etc
I mean 99% of the time the stop price and close probably won't
be that different, it's just for the rare flash crash days, and in
the fall we saw SPX 100 point down days at times.
I've said before for my time frame I like to use the 120 min
chart over the daily, that stop was 2997, so was tighter. more
signals on that smaller time frame as you would imagine, it's give
and take, can give more noise too not always better than the
daily
Posted by pmahoney on 31st of Jul 2019 at 07:09 pm
I got stopped out on SPY intra-day and I'm fine with it.
So the next question is when to re-enter and how to determine
that. This advance has been 2 months. Sure seems like
time for a breather.
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PMO All Market Buy on
Posted by elliotw on 31st of Jul 2019 at 05:55 pm
PMO All Market Buy on sell now as wellas $BPSPX renko
But the 2963 held on
Posted by elliotw on 31st of Jul 2019 at 06:06 pm
But the 2963 held on a closing basis
it's intra day not close,
Posted by matt on 31st of Jul 2019 at 06:27 pm
it's intra day not close, the concept there is protection if the market had a 10 or 15% correction in one day you don't want to wait for the close and exit 5 or 10% below the stop , you want to be out when the markets only down a couple percent in the morning at or near the stop price. I intend the stop to be intra-day for protection against those rare Market crashes flash crash Etc
Thanks for clarifying it’s intra
Posted by elliotw on 31st of Jul 2019 at 07:24 pm
Thanks for clarifying it’s intra Matt.
I mean 99% of the
Posted by matt on 31st of Jul 2019 at 08:16 pm
I mean 99% of the time the stop price and close probably won't be that different, it's just for the rare flash crash days, and in the fall we saw SPX 100 point down days at times.
I've said before for my
Posted by matt on 31st of Jul 2019 at 09:21 pm
I've said before for my time frame I like to use the 120 min chart over the daily, that stop was 2997, so was tighter. more signals on that smaller time frame as you would imagine, it's give and take, can give more noise too not always better than the daily
I got stopped out on
Posted by pmahoney on 31st of Jul 2019 at 07:09 pm
I got stopped out on SPY intra-day and I'm fine with it. So the next question is when to re-enter and how to determine that. This advance has been 2 months. Sure seems like time for a breather.