I sent the alert out - email etc can take time to get to you so
here's the email text
Another volatile day for the markets. We got that oversold
bounce - congrats if you lightened up on things.
Otherwise today looks like that Trend/Pullback reversion to mean
system will be taking that second entry that it didn't take
yesterday, so I'll add it today
Please realize that we are in extreme volatile environment.
These reversion to mean systems buy when pain is high and they are
not comfortable. Prices could go lower where 3rd entries occur
before these systems get a bounce. That's their nature.
As far as the market - there's a few open gaps below that could
be magnets
Anyway I'll examine the market tonight in the newsletter
unfortunately some of you guys came in during a very volatile
and difficult time to do these system trades, I wish you had come
in when things were more sane to get some easier trades under your
belt, but it is what it is. We could see much lower prices if
those gaps fill below on the SPX and the QQQ H&S pattern plays
out
I have a feeling SPY will go to the bottom of the lower long
trend line, just a gut feeling, I got out of most longs, last month
my account was up 5%, in 2 weeks it is down 5%, 10% swing, very
bad
you signed up on 14th, we've had nice trade ideas here that have
done well, particularly the short since that time. yes the initial
SPY system trade is down, but that's timing and had you signed up
months go would have ample profits from that
also the system trades are meant to the portion of your account
that you set aside for them -not the entire account. One could be
down on the SPY trade but up on the other trade ideas
you are new, it's a tough time, but also certainly not something
to blame BPT for.
I also think that new folks who come in should consider dipping
their toe in before going full out. There's a lot here to absorb,
it takes time, disciple, and setting a plan, and some folks never
grasp it.
hopefully you are following a plan that fits you and I think if
you stick with you over time you'll be happy
CASH is a position... dont get itchy to take every trade... my
two cents from years of getting burned. If you didnt lose money
today , it means you already beat the market
and remember guys, regarding the systems, even if I don't like
the trades I have to report them - over the long run they play out
but there are pucker times like this
Yeah, I was planning to lighten up on my SPY System positions
today, as I skipped the first entry, and the second entry was
looking good! ......took a long lunch, and came back
to a wipe out of all daily gains. So, a third entry may be
nice, although it will be painful getting there. With so many
SPY Subsystems having triggered, I still feel comfortable we will
recover. PS: Glad I took the Feb Call Option yesterday
(as opposed to the Jan). Just a little more room to
recover!
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Matt, regarding the systems, would
Posted by rmoore100 on 1st of Dec 2021 at 03:32 pm
Matt, regarding the systems, would any be looking at a 3rd entry, or do we need to drop considerably more ? Thanks
I don't think so -
Posted by matt on 1st of Dec 2021 at 03:39 pm
I don't think so - but the Trend/Pullback may do that second entry that it didn't do yesterday
I sent the alert out
Posted by matt on 1st of Dec 2021 at 04:02 pm
I sent the alert out - email etc can take time to get to you so here's the email text
Another volatile day for the markets. We got that oversold bounce - congrats if you lightened up on things.
Otherwise today looks like that Trend/Pullback reversion to mean system will be taking that second entry that it didn't take yesterday, so I'll add it today
- 2 SPY Call options expiring Feb 28th, 438 Strike Price.
Please realize that we are in extreme volatile environment. These reversion to mean systems buy when pain is high and they are not comfortable. Prices could go lower where 3rd entries occur before these systems get a bounce. That's their nature.
As far as the market - there's a few open gaps below that could be magnets
Anyway I'll examine the market tonight in the newsletter
I just tried to buy
Posted by piclez on 1st of Dec 2021 at 04:19 pm
I just tried to buy one call now Feb 28th on TOS but didn't fill, even at market price. Why?
if you did after hrs
Posted by matt on 1st of Dec 2021 at 04:21 pm
if you did after hrs you have to do limit
unfortunately some of you guys came in during a very volatile and difficult time to do these system trades, I wish you had come in when things were more sane to get some easier trades under your belt, but it is what it is. We could see much lower prices if those gaps fill below on the SPX and the QQQ H&S pattern plays out
I have a feeling SPY
Posted by sydney on 1st of Dec 2021 at 04:41 pm
I have a feeling SPY will go to the bottom of the lower long trend line, just a gut feeling, I got out of most longs, last month my account was up 5%, in 2 weeks it is down 5%, 10% swing, very bad
you signed up on 14th,
Posted by matt on 1st of Dec 2021 at 04:49 pm
you signed up on 14th, we've had nice trade ideas here that have done well, particularly the short since that time. yes the initial SPY system trade is down, but that's timing and had you signed up months go would have ample profits from that
also the system trades are meant to the portion of your account that you set aside for them -not the entire account. One could be down on the SPY trade but up on the other trade ideas
you are new, it's a tough time, but also certainly not something to blame BPT for.
I also think that new folks who come in should consider dipping their toe in before going full out. There's a lot here to absorb, it takes time, disciple, and setting a plan, and some folks never grasp it.
hopefully you are following a plan that fits you and I think if you stick with you over time you'll be happy
again this is s tough time
CASH is a position... dont
Posted by arun on 1st of Dec 2021 at 04:57 pm
CASH is a position... dont get itchy to take every trade... my two cents from years of getting burned. If you didnt lose money today , it means you already beat the market
and remember guys, regarding the
Posted by matt on 1st of Dec 2021 at 04:58 pm
and remember guys, regarding the systems, even if I don't like the trades I have to report them - over the long run they play out but there are pucker times like this
Yea I tried limit first
Posted by piclez on 1st of Dec 2021 at 04:35 pm
Yea I tried limit first didnt work. It passed the 3:15 PCT. Maybe I can later when re-opens or in the morning?
Yeah, I was planning to
Posted by Ray on 1st of Dec 2021 at 04:17 pm
Yeah, I was planning to lighten up on my SPY System positions today, as I skipped the first entry, and the second entry was looking good! ......took a long lunch, and came back to a wipe out of all daily gains. So, a third entry may be nice, although it will be painful getting there. With so many SPY Subsystems having triggered, I still feel comfortable we will recover. PS: Glad I took the Feb Call Option yesterday (as opposed to the Jan). Just a little more room to recover!