I just want to hear from all those BULLS when I said the market
was putting in a tradeable top in the rising wedge 4325 and
they thought I was nuts. They wanted to cite historical stats
bs instead of the message of the market. Well the market
closed right on my channel - drawn days in advance
Posted by anjali25 on 26th of Aug 2022 at 06:39 pm
Me too using that but - entered yesterday and missed the
exit this morning - lost all my profits from yesterdays morning
entry - damn the work meetings ðŸ˜
why did you go long yesterday? none of the systems went long
yesterday, 75% of them exited. The longs for those systems were
from the previous day for Strap and several days for the bear long
- nothing went long yesterday - profits were taken. Then last night
and this morning I said that the bear long would be exiting and the
QQQ exited on the open
and non-system wise we were bearish with that H&S
pattern
Posted by anjali25 on 26th of Aug 2022 at 11:22 pm
Hi Matt - went long on the strap day … wasn’t that yesterday …
my bad checked the entry was 8/24 - I know there was a nice profit
in those trades but missed the exit this morning and so list those
and some losses on them now
i think we are still within thr 120 min channel - so will
wait for the strap exit or HS neckline retest and exit on a hourly
reversal candle
I had a similar bad experience. I went long QQQ at the open on
8-24 per the systems guidance. I work full-time, so I place these
“at-the-open” trades the night before. Last night while reviewing
my positions, I saw the Strap long had closed and I was tempted to
close the QQQ long, but you said there was no signal yet for that.
So, with no email or blog guidance on selling QQQ last night, I did
NOT place a closing “at-the-open” trade for QQQ when I went to bed.
I went to work fat-dumb-and-happy still holding the long QQQ
position. I checked my emails in the late afternoon for new signals
and was dismayed to see there WAS a QQQ sell signal after the open
which I missed. My QQQ position is way more than $10K, so this was
a big loss.
If I can respectfully offer a suggestion in the form of a
question: Are you stretched too thin in monitoring 20+ systems and
now extending them to QQQ and ETFs? IMO, the downside risk of you
missing (and not broadcasting) a timely signal outweighs the
benefits of adding more trading vehicles to generate more
signals.
Regarding the QQQ system next bar open, I want to make clear
some important points.
First off as you know I posted that here on Tuesday evening. I
posted it as an example of the next bear systems that I'm working
on and testing. I made it very clear that I was not emailing it out
and counting it as an official trade for the website - in fact it
wasn't even discussed in my Wednesday newsletter. I posted it
because it was a real time example of how those next day open
systems could work - I happened to have it open at the time and
noticed the trigger and used that as an opportunity to post it as
an example of how those systems could work and benefit us by
knowing a day in advance the trade instead of last min of the day
like the systems are now. I also made it very clear that this
version of the QQQ wasn't decided upon as the version I would be
using in the future and I stated that the those next day systems
are still in beta form. I didn't post it here for you guys to
follow the trade.
Now - a few of you took the trade anyway, which I understand
giving how hot the systems have been this year. I stated that I
would follow up on when the system would exit on the trading
community. However the systems were stated to be in beta
Anyway come Friday, the market opens flat and trades sideways
for 30 min, then has a quick move down on Powell at 10 am then a
quick recovery all the way back to the morning highs before
starting a sell off that would last into the close.
I noticed around 10 am that the system had exited and I posted
it as quickly as I could here on the trading community. I then
proceeded to email it out, even though I explicitly stated that I
would not be sending this via email - because I knew a few of you
had taken the trade setup. Keep in mind that the QQQ were not down
by much when I posted this and sent out the email: QQQ were trading
maybe around 318 at the time I posted here that it exited AND sent
out the email - if you took the trade you should have made it a
point to check in on Friday
On Thursday evening I said that the system wasn't exiting on
Friday, which after investigation with my developer today he stated
that he hadn't yet made those changes to the trade indicator, which
alerts me when the systems are exiting - again as I stated systems
are in beta.
I understand the point of one of you working a job and coming
into work on Friday dumb and happy as you put it because I said on
my end that the system wasn't exiting on Friday
But here's the key things:
1. All week long Steve and I stated that Friday Powell meeting
was HUGE and would have a big impact on the market. Even if you
were working on job on Friday you should have know that it was a
potential for a big move. Maybe you should have tried to check in
30 min or an hr after the open on your break to see what was going
on. Friday was not a day to just not think about the market, esp
since it's beta as well.
2. You know that the trade was beta and only details were posted
on the trading community: I think you should have made a point to
check into the market and trading community. Also, the trade was
nicely profitable - given that it was beta maybe you should have
set a stop since you were going to be out on Friday. The QQQ
closed down 4%, I think the average stock closed down 4 - 5%,
pretty much everything.
If you bought the QQQ on Tuesday night or Wednesday morning and
even if you didn't sell until the close today instead of this
morning - you would have lost 2%! Entry on Wednesday morning at
313.61, today's close 307.44 - that's -2%. The average stock was
down more than that today - average was 4 - 5%.
The point that was made about myself being overwhelmed and how
could I handle another 10 ETF's. The whole point of the next bar
open systems is that it would actually be far easier on me now with
10 ETF's than it is with SPY and ES even though there would be a
huge basket of additional ETF's. Why? because the next bar open
allows me to let the market close - then leisurely open the systems
30 min or an hr after the close and see if anything is triggering.
Then if one or more of the systems are showing a trigger, lazily
write up an email and send it out to the group, and you have all
night to see it and the trade would be executed the next morning -
it eliminates the mad dash end of day trying to get signals
out.
let's be done with this I don't have time this weekend to go
back and forth and have this be a big thread.
Posted by steverobin on 27th of Aug 2022 at 07:13 am
Matt: Your communications are always clear. At the
end of the day it is contingent upon each of us to make our own
decisions based on our view of the market, our time frame, our risk
tolerance. Your analysis, and Steve's are like a pair of
reading glasses; they aid sight but do not confer sight.
Thank you guys for what your are doing!
I just want to hear
Posted by steve on 26th of Aug 2022 at 04:02 pm
I just want to hear from all those BULLS when I said the market was putting in a tradeable top in the rising wedge 4325 and they thought I was nuts. They wanted to cite historical stats bs instead of the message of the market. Well the market closed right on my channel - drawn days in advance
Your calls were amazing and
Posted by anjali25 on 26th of Aug 2022 at 06:46 pm
Your calls were amazing and made me a lot of money - have paid off 3x my subscription cost since July !
4325 was a tradeable top
Posted by arun on 26th of Aug 2022 at 04:10 pm
4325 was a tradeable top for sure. 200 day MA...with a tight stop. Are you still level to level ?
Great week for me overall. Cant complain though today took away all of yesterday`s gains
Mechanical systems - take all
Posted by dragonfly28 on 26th of Aug 2022 at 04:06 pm
Mechanical systems - take all the emotion out of the process. Picked up a starter UPRO position after the close - under 42.00 now
Me too using that but
Posted by anjali25 on 26th of Aug 2022 at 06:39 pm
Me too using that but - entered yesterday and missed the exit this morning - lost all my profits from yesterdays morning entry - damn the work meetings ðŸ˜
WENT LONG UPRO and SOXL near the end of day
why did you go long
Posted by matt on 26th of Aug 2022 at 07:18 pm
why did you go long yesterday? none of the systems went long yesterday, 75% of them exited. The longs for those systems were from the previous day for Strap and several days for the bear long - nothing went long yesterday - profits were taken. Then last night and this morning I said that the bear long would be exiting and the QQQ exited on the open
and non-system wise we were bearish with that H&S pattern
Hi Matt - went long
Posted by anjali25 on 26th of Aug 2022 at 11:22 pm
Hi Matt - went long on the strap day … wasn’t that yesterday … my bad checked the entry was 8/24 - I know there was a nice profit in those trades but missed the exit this morning and so list those and some losses on them now
i think we are still within thr 120 min channel - so will wait for the strap exit or HS neckline retest and exit on a hourly reversal candle
I had a similar bad
Posted by sethbru on 26th of Aug 2022 at 08:39 pm
I had a similar bad experience. I went long QQQ at the open on 8-24 per the systems guidance. I work full-time, so I place these “at-the-open” trades the night before. Last night while reviewing my positions, I saw the Strap long had closed and I was tempted to close the QQQ long, but you said there was no signal yet for that. So, with no email or blog guidance on selling QQQ last night, I did NOT place a closing “at-the-open” trade for QQQ when I went to bed. I went to work fat-dumb-and-happy still holding the long QQQ position. I checked my emails in the late afternoon for new signals and was dismayed to see there WAS a QQQ sell signal after the open which I missed. My QQQ position is way more than $10K, so this was a big loss.
If I can respectfully offer a suggestion in the form of a question: Are you stretched too thin in monitoring 20+ systems and now extending them to QQQ and ETFs? IMO, the downside risk of you missing (and not broadcasting) a timely signal outweighs the benefits of adding more trading vehicles to generate more signals.
Regarding the QQQ system next
Posted by matt on 27th of Aug 2022 at 01:42 am
Regarding the QQQ system next bar open, I want to make clear some important points.
First off as you know I posted that here on Tuesday evening. I posted it as an example of the next bear systems that I'm working on and testing. I made it very clear that I was not emailing it out and counting it as an official trade for the website - in fact it wasn't even discussed in my Wednesday newsletter. I posted it because it was a real time example of how those next day open systems could work - I happened to have it open at the time and noticed the trigger and used that as an opportunity to post it as an example of how those systems could work and benefit us by knowing a day in advance the trade instead of last min of the day like the systems are now. I also made it very clear that this version of the QQQ wasn't decided upon as the version I would be using in the future and I stated that the those next day systems are still in beta form. I didn't post it here for you guys to follow the trade.
Now - a few of you took the trade anyway, which I understand giving how hot the systems have been this year. I stated that I would follow up on when the system would exit on the trading community. However the systems were stated to be in beta
Anyway come Friday, the market opens flat and trades sideways for 30 min, then has a quick move down on Powell at 10 am then a quick recovery all the way back to the morning highs before starting a sell off that would last into the close.
I noticed around 10 am that the system had exited and I posted it as quickly as I could here on the trading community. I then proceeded to email it out, even though I explicitly stated that I would not be sending this via email - because I knew a few of you had taken the trade setup. Keep in mind that the QQQ were not down by much when I posted this and sent out the email: QQQ were trading maybe around 318 at the time I posted here that it exited AND sent out the email - if you took the trade you should have made it a point to check in on Friday
On Thursday evening I said that the system wasn't exiting on Friday, which after investigation with my developer today he stated that he hadn't yet made those changes to the trade indicator, which alerts me when the systems are exiting - again as I stated systems are in beta.
I understand the point of one of you working a job and coming into work on Friday dumb and happy as you put it because I said on my end that the system wasn't exiting on Friday
But here's the key things:
1. All week long Steve and I stated that Friday Powell meeting was HUGE and would have a big impact on the market. Even if you were working on job on Friday you should have know that it was a potential for a big move. Maybe you should have tried to check in 30 min or an hr after the open on your break to see what was going on. Friday was not a day to just not think about the market, esp since it's beta as well.
2. You know that the trade was beta and only details were posted on the trading community: I think you should have made a point to check into the market and trading community. Also, the trade was nicely profitable - given that it was beta maybe you should have set a stop since you were going to be out on Friday. The QQQ closed down 4%, I think the average stock closed down 4 - 5%, pretty much everything.
If you bought the QQQ on Tuesday night or Wednesday morning and even if you didn't sell until the close today instead of this morning - you would have lost 2%! Entry on Wednesday morning at 313.61, today's close 307.44 - that's -2%. The average stock was down more than that today - average was 4 - 5%.
The point that was made about myself being overwhelmed and how could I handle another 10 ETF's. The whole point of the next bar open systems is that it would actually be far easier on me now with 10 ETF's than it is with SPY and ES even though there would be a huge basket of additional ETF's. Why? because the next bar open allows me to let the market close - then leisurely open the systems 30 min or an hr after the close and see if anything is triggering. Then if one or more of the systems are showing a trigger, lazily write up an email and send it out to the group, and you have all night to see it and the trade would be executed the next morning - it eliminates the mad dash end of day trying to get signals out.
let's be done with this I don't have time this weekend to go back and forth and have this be a big thread.
That is what stops are
Posted by kaap on 27th of Aug 2022 at 10:26 am
That is what stops are for....as Steve says all the time.
Matt: Your communications are always
Posted by steverobin on 27th of Aug 2022 at 07:13 am
Matt: Your communications are always clear. At the end of the day it is contingent upon each of us to make our own decisions based on our view of the market, our time frame, our risk tolerance. Your analysis, and Steve's are like a pair of reading glasses; they aid sight but do not confer sight. Thank you guys for what your are doing!
Thank you for the thorough
Posted by sethbru on 27th of Aug 2022 at 02:10 am
Thank you for the thorough response. We're all good. You do a great job and I do appreciate it. Lesson learned. :-)