I expect volatility here: shortened week and a lot of news.
one can either follow the systems exactly from entry to exit
or...if you bought more than one PUT option or you bought a lot of
ETF shares - you could have locked in some profits outside of the
system on the morning drop i.e.. if you bought 4 PUT options on
Friday, could have elected to sell one of them this morning to lock
something in then keep the rest to exit by the system.
again follow what fits your risk profile.
the system is not a day trade system - it needs to hit a daily
exit criteria. Should the market rally back and recover this week
to another high, it's possible that the system won't exit and could
even have a 2nd entry should prices recover over the next couple
days and make a new high.
for an exit price needs to close below a short term MA like a 5
SMA
SPX was down 54 points in the morning and is now flat - hence my
comments from this morning about volatility or taking some profits
if you bought more than one PUT option on Friday - here's those
comments from this morning
"I expect volatility here: shortened week and a lot of
news.
one can either follow the systems exactly from entry to exit
or...if you bought more than one PUT option or you bought a lot of
ETF shares - you could have locked in some profits outside of the
system on the morning drop i.e.. if you bought 4 PUT options on
Friday, could have elected to sell one of them this morning to lock
something in then keep the rest to exit by the system.
again follow what fits your risk profile.
the system is not a day trade system - it needs to hit a
daily exit criteria. Should the market rally back and recover this
week to another high, it's possible that the system won't exit and
could even have a 2nd entry should prices recover over the next
couple days and make a new high."
you were so worried about
ES 80+ points fade off yesterday's abbreviated session highs
Posted by matt on 31st of May 2022 at 09:35 am
you were so worried about that ES and SPY systems taking a 1st entry short on Friday
Amazing -- What is this
Posted by simple_million on 31st of May 2022 at 09:45 am
Amazing -- What is this sub system intended to do? Scalp a morning dip, hold until EOD? Longer? Sorry if this was already discussed.
I expect volatility here: shortened
Posted by matt on 31st of May 2022 at 09:49 am
I expect volatility here: shortened week and a lot of news.
one can either follow the systems exactly from entry to exit or...if you bought more than one PUT option or you bought a lot of ETF shares - you could have locked in some profits outside of the system on the morning drop i.e.. if you bought 4 PUT options on Friday, could have elected to sell one of them this morning to lock something in then keep the rest to exit by the system.
again follow what fits your risk profile.
the system is not a day trade system - it needs to hit a daily exit criteria. Should the market rally back and recover this week to another high, it's possible that the system won't exit and could even have a 2nd entry should prices recover over the next couple days and make a new high.
for an exit price needs to close below a short term MA like a 5 SMA
SPX was down 54 points
Posted by matt on 31st of May 2022 at 12:41 pm
SPX was down 54 points in the morning and is now flat - hence my comments from this morning about volatility or taking some profits if you bought more than one PUT option on Friday - here's those comments from this morning
"I expect volatility here: shortened week and a lot of news.
one can either follow the systems exactly from entry to exit or...if you bought more than one PUT option or you bought a lot of ETF shares - you could have locked in some profits outside of the system on the morning drop i.e.. if you bought 4 PUT options on Friday, could have elected to sell one of them this morning to lock something in then keep the rest to exit by the system.
again follow what fits your risk profile.
the system is not a day trade system - it needs to hit a daily exit criteria. Should the market rally back and recover this week to another high, it's possible that the system won't exit and could even have a 2nd entry should prices recover over the next couple days and make a new high."
Ha, SPY system strikes again!
Posted by cozz101 on 31st of May 2022 at 09:41 am
Ha, SPY system strikes again! Nice
yeah they have to close
Posted by matt on 31st of May 2022 at 09:45 am
yeah they have to close out. Otherwise my Tradestation is currently down, I'll try opening it soon to see if they are looking to exit yet or not
yep, I know, with this
Posted by cozz101 on 31st of May 2022 at 09:53 am
yep, I know, with this market volatility, nothings for certain but fun to be on the right side of the trade (for now)