however even if the market were to retrace again, I do think it
probably tests that 61.8 Fib first, which is higher.
on the SPY system the Pullback/Trend went long yesterday.
However on the ES system that same system missed by a hair. Just
like we saw recently where the ES breakout system caught one hell
of a trade but the SPY Breakout version missed it. Again nice
real time examples of why I think it makes sense to do both ES and
SPY systems because everything averages out well, SPY does
better on time, then ES does better, so by doing both you always
catch the trades.
realize when we do both SPY and ES the trade count will about
double because there is a ton of overlap, so you may need to adjust
the amount of capital you put into each in order to handle the
trades.
Matt - perhaps you can lay out examples. like if you had
$25K account, $50K or $100K, what those allocations would look like
for each trade, a reference guide if you will. I think risk
management is just as important as putting on the trade. When
I was young I blew up my account far too many times. I wish I
had someone to pull me aside and say, your account is X size and
you should only risk this amount if you want to stay in the
game. Just my two cents.
Market Comments
Posted by matt on 4th of Dec 2019 at 10:08 am
$SPX - Chart Link - heck of a bounce this morning, however note the 1st bear squeeze potential on the MA ribbons on the 2hr and 60 min time frames.
$SPX - Chart Link
$SPX - Chart Link - and also monitor the Fibs, the 61.8% Fib is an obvious Fib that may offer stiff resistance at 3121
however even if the market
Posted by matt on 4th of Dec 2019 at 10:20 am
however even if the market were to retrace again, I do think it probably tests that 61.8 Fib first, which is higher.
on the SPY system the Pullback/Trend went long yesterday. However on the ES system that same system missed by a hair. Just like we saw recently where the ES breakout system caught one hell of a trade but the SPY Breakout version missed it. Again nice real time examples of why I think it makes sense to do both ES and SPY systems because everything averages out well, SPY does better on time, then ES does better, so by doing both you always catch the trades.
realize when we do both SPY and ES the trade count will about double because there is a ton of overlap, so you may need to adjust the amount of capital you put into each in order to handle the trades.
anyway I'll be back
excellent summary
Posted by retirefire on 4th of Dec 2019 at 10:28 am
excellent summary
Matt - perhaps you can
Posted by ssaffer on 4th of Dec 2019 at 10:25 am
Matt - perhaps you can lay out examples. like if you had $25K account, $50K or $100K, what those allocations would look like for each trade, a reference guide if you will. I think risk management is just as important as putting on the trade. When I was young I blew up my account far too many times. I wish I had someone to pull me aside and say, your account is X size and you should only risk this amount if you want to stay in the game. Just my two cents.
I am busy this morning
Posted by matt on 4th of Dec 2019 at 10:09 am
I am busy this morning with kids, remember I'm Mr Mom while my wife is in China, one has a doctors app so will be back later this morning