since the exhaustion trades do not catch big swing trades,
simply look to a quick reversion to mean reset, was not a bad idea
to close out at least 1/2 the short trade from the SPY system.
Had I not been so busy with things I probably would have sent
out an alert for that, or even closed it out entirely. What I don't
want to happen is for the market to have a magic rally back above
the 8 SMA in the afternoon and for the trade to hold.
Matt - since the exhaustion short is meant to be for quick
trades, does your system have ability to identify or stay in a
short position if it could turn into a swing Trade? Trying to gauge
probability of maintaining short on broader market turn. Also what
are your thought on VIX as a short proxy? Thanks.
since the exhaustion trades do
Market, SPY system, other comments
Posted by matt on 2nd of Dec 2019 at 11:20 am
since the exhaustion trades do not catch big swing trades, simply look to a quick reversion to mean reset, was not a bad idea to close out at least 1/2 the short trade from the SPY system. Had I not been so busy with things I probably would have sent out an alert for that, or even closed it out entirely. What I don't want to happen is for the market to have a magic rally back above the 8 SMA in the afternoon and for the trade to hold.
Matt - since the exhaustion
Posted by ojc345 on 2nd of Dec 2019 at 12:36 pm
Matt - since the exhaustion short is meant to be for quick trades, does your system have ability to identify or stay in a short position if it could turn into a swing Trade? Trying to gauge probability of maintaining short on broader market turn. Also what are your thought on VIX as a short proxy? Thanks.
Sorry for your family loss
Posted by retirefire on 2nd of Dec 2019 at 11:27 am
Sorry for your family loss Matt. Yes took profit while SPX was filling GAP.
What about setting a trailing
Posted by cozz101 on 2nd of Dec 2019 at 11:27 am
What about setting a trailing stop (on exhaustion trade) based on just below the 2 hr ATR? Would that give back too much or be too tight a stop?