SPY system

    Posted by matt on 5th of Sep 2019 at 10:25 am

    updated system stats table: The open Trend trade is nicely positive now on both 1st and 2nd entries. We have Jobs report tomorrow. I may lock in the option trades here

    I had some typos on

    Posted by matt on 5th of Sep 2019 at 10:35 am

    I had some typos on the table, here's the correct one

    Matt I knew you sold

    Posted by retirefire on 5th of Sep 2019 at 10:45 am

    Matt I knew you sold one of the options early, but did you also take 1/2 off on the SSO early?

    if I close out something

    Posted by matt on 5th of Sep 2019 at 10:50 am

    if I close out something I could either close out the option trades and leave only the ETF trades. Or close out the 1st entries on the ETF and Options, but leave the 2nd entries on both since they have much better prices and wiggle room over the 1st entries. Not sure

    definately take the options off

    Posted by RP on 5th of Sep 2019 at 10:52 am

    definately take the options off ..io would lean on the first idea..justy my 2 cents never got hurt locking in a profit..

    I did, sent the email.

    Posted by matt on 5th of Sep 2019 at 11:01 am

    I did, sent the email. I"m sure whatever I did will be wrong though LOL. I could have also made a good case for only taking off the 1st entries i.e. the SPY and the 1st option entry and leaving open the 2nd entries, i.e. SSO and the 2nd SPY entry because those trades were bought almost at the bottom and have a lot of wiggle room unlike the first entries. 

    whatever it's done, and we still have the ETF trades open. Of course my action of closing the options out, the 'market gods' out will now ensure that the market goes to new highs! 

    so Trump should send me a thank you LOL

    Matt you made folks money!!!!

    Posted by RP on 5th of Sep 2019 at 11:04 am

    Matt you made folks money!!!! no one ever went broke taking profits its the woulda coulda crowd that loses their ass..

    OH ZERO complaints, just learning

    Posted by retirefire on 5th of Sep 2019 at 11:07 am

    OH ZERO complaints, just learning the procedure. FANTASTIC job!

    no - you can verify

    Posted by matt on 5th of Sep 2019 at 10:47 am

    no - you can verify from the table what was done

    my mistake then .. I

    Posted by retirefire on 5th of Sep 2019 at 11:04 am

    my mistake then .. I mistakenly thought the 2nd entry, SSO, was 20k buy. I see from the chart it was 10k

    retirefire - sorry for the

    Posted by matt on 5th of Sep 2019 at 11:09 am

    retirefire - sorry for the confusion, but the way the table is setup for simplicity: All ETF trades are $10K.  SPY/SH for 1st entries, SSO/SDS for second entries, and UPRO/SPXU for 3rd entries.  The reason why I leave each entry at $10K is because 2nd entries are  2X ETF's and 3rd entries are 3X ETF's, that is the same as buying $20K SPY on 2nd entry and $30K SPY on 3rd entry.  If I was doing SPY for all the entries then yes I'd do $20K and $30K for 2nd and 3rd entries respectively but with the leveraged ETF's they take care of that and essentially give you 2 and 3 times the amount for the 1st and 2nd entries.

    for the options I do 1 contract for 1st entries, 2 for 2nd, and 3 for 3rd entries which effectively is the same thing.

    again guys remember that's simply a template to keep things simple, I expect you all to trade different amounts akin to your risk tolerance. 

    on a side note you can see how this new SPY system where we trade the sub systems is superior over the old SPY system, as it's easier to follow and on this last trade we had two other sub systems the CCI and Strap close out for nice trades, so we've had 3 trades since early Aug. On the old SPY system it would have been one only. That also helps for diversification.

    Thanks for recap, very clear.

    Posted by retirefire on 5th of Sep 2019 at 11:14 am

    Thanks for recap, very clear. GLTA

    I updated the SPY system

    Posted by matt on 5th of Sep 2019 at 11:29 am

    I updated the SPY system with the trades

    https://breakpointtrades.com/spy/

    congrats on the trades Matt! 

    Posted by morton7 on 5th of Sep 2019 at 11:43 am

    congrats on the trades Matt!  very nice and smart!

    Shoot while the ducks are

    Posted by lamb on 5th of Sep 2019 at 10:28 am

    Shoot while the ducks are quacking!! Steve's advise , safe and not sorry!!

    especially if they are grouped

    Posted by RP on 5th of Sep 2019 at 10:32 am

    especially if they are grouped together..two birds one stone..haha

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