I saw some questions that were posted early in the day when I
was in bed regarding the SPY system and 2nd entries. Obviously the
system would have been signaling a 2nd entry at the lows, which
went away with the rally off the lows. I could potentially come
back if price dumped hard enough into the close but I think it's
pretty far away still
I've discussed these before, I call them phantom signals, they
come and go. My observation over the years is that most of the time
they actually give really good trades. The thing is, there is no
way to go back in the past and see them because the system is based
off a daily bar. I used to track them, I need to get back to doing
that because I wanted to build up some statistics that we could
compare.
I wouldn't mind taking those phantom trades! I think for you, it
would be another thing that you have to monitor during the day
though and might be unrealistic to expect to have you report all of
those trades.
I bought some trades at support today (not spy or sso) and
thought about adding to the SPY trade, but did not. It might be
good to just do our own thing within the trade knowing the spy
system is long at least one entry (during the day) but continue to
receive any signals that trigger at the close.
Posted by mastermind on 10th of Jan 2022 at 04:03 pm
No need to announce the phantom trades per se'. When Matt says
in the middle of the day that if the SPX closes at these levels it
would trigger an entry, you can just enter intra-day.
SPY system comments
Posted by matt on 10th of Jan 2022 at 03:16 pm
I saw some questions that were posted early in the day when I was in bed regarding the SPY system and 2nd entries. Obviously the system would have been signaling a 2nd entry at the lows, which went away with the rally off the lows. I could potentially come back if price dumped hard enough into the close but I think it's pretty far away still
I've discussed these before, I call them phantom signals, they come and go. My observation over the years is that most of the time they actually give really good trades. The thing is, there is no way to go back in the past and see them because the system is based off a daily bar. I used to track them, I need to get back to doing that because I wanted to build up some statistics that we could compare.
here's a post I made about these early last year
https://breakpointtrades.com/blog/post/339505/
I wouldn't mind taking those
Posted by cozz101 on 10th of Jan 2022 at 03:48 pm
I wouldn't mind taking those phantom trades! I think for you, it would be another thing that you have to monitor during the day though and might be unrealistic to expect to have you report all of those trades.
I bought some trades at support today (not spy or sso) and thought about adding to the SPY trade, but did not. It might be good to just do our own thing within the trade knowing the spy system is long at least one entry (during the day) but continue to receive any signals that trigger at the close.
No need to announce the
Posted by mastermind on 10th of Jan 2022 at 04:03 pm
No need to announce the phantom trades per se'. When Matt says in the middle of the day that if the SPX closes at these levels it would trigger an entry, you can just enter intra-day.
Facts ! I added to
Posted by fredsaid on 10th of Jan 2022 at 09:10 pm
Facts ! I added to my SPY calls all morning and only sold 1/10 at the close.