I'm confused as to what trade we are taking on the spy system?
If it's the bear long, are we leveraging since this would be a 3rd
entry? Or starting fresh with a 1st entry bear long?
prices are HIGHER than the 1st and 2nd entries. Remember almost
all additional entries are at better prices so for longs that's
lower prices and leverage is 2X and 3X leverage are used for 2nd
and 3rd entries.
however these higher additional entries that are higher (worse)
than the 1st and 2nd entries (the overall thought is that the
system is looking for higher prices and is trying to buy a pullback
within that uptrend.
I don't see the need for leverage on these entries since they
are at higher prices - but again do what fits you. SPY, SSO
whatever. as I already covered I'll just be showing as SPY ETF and
1 MES. SSO is probably my other choice if I had to pick
The bear long is an additional entry based on price action (if
you already own it, you are adding to it). Matt made a video
a week or two ago explaining how the system works, but it can take
additional entries.
I'm confused as to what
Posted by cozz101 on 28th of Jun 2022 at 04:11 pm
I'm confused as to what trade we are taking on the spy system? If it's the bear long, are we leveraging since this would be a 3rd entry? Or starting fresh with a 1st entry bear long?
prices are HIGHER than the
Posted by matt on 28th of Jun 2022 at 04:18 pm
prices are HIGHER than the 1st and 2nd entries. Remember almost all additional entries are at better prices so for longs that's lower prices and leverage is 2X and 3X leverage are used for 2nd and 3rd entries.
however these higher additional entries that are higher (worse) than the 1st and 2nd entries (the overall thought is that the system is looking for higher prices and is trying to buy a pullback within that uptrend.
I don't see the need for leverage on these entries since they are at higher prices - but again do what fits you. SPY, SSO whatever. as I already covered I'll just be showing as SPY ETF and 1 MES. SSO is probably my other choice if I had to pick
Thanks for the explanation; makes
Posted by cozz101 on 28th of Jun 2022 at 04:25 pm
Thanks for the explanation; makes sense!
The bear long is an
Posted by jared95 on 28th of Jun 2022 at 04:16 pm
The bear long is an additional entry based on price action (if you already own it, you are adding to it). Matt made a video a week or two ago explaining how the system works, but it can take additional entries.
Matt can you please post
Posted by mirhamedali on 28th of Jun 2022 at 04:34 pm
Matt can you please post a link to this explainer video?
what video? the Youtube one
Posted by matt on 28th of Jun 2022 at 05:49 pm
what video? the Youtube one with the bear long discussion
This was emailed out last
Posted by focus175 on 28th of Jun 2022 at 05:11 pm
This was emailed out last Tuesday. Check your email.