my mistake then .. I

    SPY system

    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!

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