that ES Trend MOMO may not go long today now as the conditions
are not meeting currently, however the ES breakout system took an
entry yesterday,
which I actually mentioned in the newsletter last night.
also normally that breakout trade could have entered on Dec
20th, however it was delayed until yesterday because at the time a
3 length RSI was over 91%, which delayed the entry until yesterday
after the market had finally pulled back. That trade can only have
a maximum of 2 entries, thus if the market were to sell off more it
could take a second entry but then stop out if the market continued
lower
here's an image showing the SPY and ES systems on one workspace.
Like I said on Monday the ES breakout system went long, however the
SPY breakout version did not. Not sure why but is what it is.
again like I said below just another example of why I like
the idea of both systems because you get a lot of examples like
this. Also don't be annoyed that I didn't officially email
that ES breakout as a trade for the website. I did post it on
Monday and discussed in the newsletter BUT I don't have it setup on
the backed. I have nothing about the ES system in the SPY section,
I need to populate FAQ's, stuff like that. I told you guys I am
planning to incorporate the ES system but I'm just not ready yet.
However I've been posting them so you can see examples.
otherwise here's what I wrote this morning, which is another
point. The 1hr later close and option thing could be an
issue, so I have to decide on that
---------------
that said the only concern I have is that ES and SPY daily
charts have different closure times. SPY closes at 4 EST when
the cash market does, and ES closes at 5 pm EST 1 hr later. There's
no problem trading ETF's for that in after hrs but you can't buy
options that late. My initial thought is that if the ES order is
there by the 4 pm close to go ahead and send it anyway. Is
there a chance the trade conditions could go away during that 4 - 5
pm hr? Yes however because it's after hrs for the general cash
market moves are generally small and I think that most trade
signals that are meeting at 4 pm on ES will stay by the 5 pm close.
But is there a chance they could go away? Yes, and what do we do
then? close the trade the next morning on the options. Anyway
you can see there's a bit of complication there
While you are waiting to get the details and backend stuff done,
I appreciate that you are sharing when the ES system takes a trade
even if timing is not perfect. This last time, I was able to get in
on the trade the next day at a relatively similar price to the
close the day before. I am still in this trade and enjoying the
gains.
It is nice to get more frequent opportunities as the SPY system
seems to have more signals when there is a substantial pullback in
a reversion-to-mean type trade. (although I realize there is a SPY
breakout system too).
I do see the dilemma with the options trade placement and the
possibility that there could be a false signal given prior to 5pm.
Maybe members could have the understanding that this could happen
if they are placing options trades. If not and just using this for
ETF signals, at least there are that many more trading
opportunities.
On this trade, will you
Trend Momo condition triggering
Posted by cozz101 on 31st of Dec 2019 at 02:12 pm
On this trade, will you be letting us know at the close or doesn't the ES system work that way?
that ES Trend MOMO may
Posted by matt on 31st of Dec 2019 at 03:43 pm
that ES Trend MOMO may not go long today now as the conditions are not meeting currently, however the ES breakout system took an entry yesterday, which I actually mentioned in the newsletter last night.
also normally that breakout trade could have entered on Dec 20th, however it was delayed until yesterday because at the time a 3 length RSI was over 91%, which delayed the entry until yesterday after the market had finally pulled back. That trade can only have a maximum of 2 entries, thus if the market were to sell off more it could take a second entry but then stop out if the market continued lower
here's an image showing the
Posted by matt on 2nd of Jan 2020 at 04:22 pm
here's an image showing the SPY and ES systems on one workspace. Like I said on Monday the ES breakout system went long, however the SPY breakout version did not. Not sure why but is what it is. again like I said below just another example of why I like the idea of both systems because you get a lot of examples like this. Also don't be annoyed that I didn't officially email that ES breakout as a trade for the website. I did post it on Monday and discussed in the newsletter BUT I don't have it setup on the backed. I have nothing about the ES system in the SPY section, I need to populate FAQ's, stuff like that. I told you guys I am planning to incorporate the ES system but I'm just not ready yet. However I've been posting them so you can see examples.
otherwise here's what I wrote this morning, which is another point. The 1hr later close and option thing could be an issue, so I have to decide on that
---------------
that said the only concern I have is that ES and SPY daily charts have different closure times. SPY closes at 4 EST when the cash market does, and ES closes at 5 pm EST 1 hr later. There's no problem trading ETF's for that in after hrs but you can't buy options that late. My initial thought is that if the ES order is there by the 4 pm close to go ahead and send it anyway. Is there a chance the trade conditions could go away during that 4 - 5 pm hr? Yes however because it's after hrs for the general cash market moves are generally small and I think that most trade signals that are meeting at 4 pm on ES will stay by the 5 pm close. But is there a chance they could go away? Yes, and what do we do then? close the trade the next morning on the options. Anyway you can see there's a bit of complication there
While you are waiting to
Posted by cozz101 on 2nd of Jan 2020 at 08:34 pm
While you are waiting to get the details and backend stuff done, I appreciate that you are sharing when the ES system takes a trade even if timing is not perfect. This last time, I was able to get in on the trade the next day at a relatively similar price to the close the day before. I am still in this trade and enjoying the gains.
It is nice to get more frequent opportunities as the SPY system seems to have more signals when there is a substantial pullback in a reversion-to-mean type trade. (although I realize there is a SPY breakout system too).
I do see the dilemma with the options trade placement and the possibility that there could be a false signal given prior to 5pm. Maybe members could have the understanding that this could happen if they are placing options trades. If not and just using this for ETF signals, at least there are that many more trading opportunities.
FWIW - SPY IWM QQQ
Posted by arun on 2nd of Jan 2020 at 04:39 pm
FWIW - SPY IWM QQQ ETF`s trade 24 hours