unfortunately usually about once a year the reversion to mean
systems go through periods like this where they have to scale in
and take some heat before a reversal. It's never fun, it just is
what it is. folks who've been here for a while understand that
well, it's new folks if they came in and this was there first foray
into those system trades it's hard for them to not get
frustrated.
anyway looks like Bear long will be taking 2nd entry on SPY, and
3rd entry on ES. Strap 3rd entry on both. That said, my comments
from other day, if you need to limit your exposure, one way to do
that is picking and choosing, maybe you do the bear long entries
and not the Strap etc.
Even the longer term traders struggle at times with the
big draw-downs but listening to the newsletters both you and Steve
warned that the chart were VERY bearish. That did affect the way I
have traded this move down.
yep and also again we'll see how these close out. what
ultimately matters is how they close out. We've seen this a dozen
times before, sometimes they take some heat but usually they end up
exiting fine. The bear long on SPY only has 1 entry. ES one
has potentially 3. There's times in the past where you had 3 and 4
systems in 2 and 3 entries - we are not at that.
the KISS trend stuff did its job as well getting out up there
last week
one version took 3rd entry on bear long on ES, one did not
again on market today's high if w4 then we might see w5 on
Monday - on a new low if it doesn't crater you have pretty good
MACD divergence that will finally setup on 30 min and 60 min time
frames that could setup a better trade low. You could also have a
double bottom truncated here as well
reversion to mean systems
Posted by matt on 2nd of Sep 2022 at 03:49 pm
unfortunately usually about once a year the reversion to mean systems go through periods like this where they have to scale in and take some heat before a reversal. It's never fun, it just is what it is. folks who've been here for a while understand that well, it's new folks if they came in and this was there first foray into those system trades it's hard for them to not get frustrated.
anyway looks like Bear long will be taking 2nd entry on SPY, and 3rd entry on ES. Strap 3rd entry on both. That said, my comments from other day, if you need to limit your exposure, one way to do that is picking and choosing, maybe you do the bear long entries and not the Strap etc.
Yes Matt, Even the longer term
Posted by mundy on 2nd of Sep 2022 at 04:11 pm
Yes Matt,
Even the longer term traders struggle at times with the big draw-downs but listening to the newsletters both you and Steve warned that the chart were VERY bearish. That did affect the way I have traded this move down.
yep and also again we'll
Posted by matt on 2nd of Sep 2022 at 04:14 pm
yep and also again we'll see how these close out. what ultimately matters is how they close out. We've seen this a dozen times before, sometimes they take some heat but usually they end up exiting fine. The bear long on SPY only has 1 entry. ES one has potentially 3. There's times in the past where you had 3 and 4 systems in 2 and 3 entries - we are not at that.
the KISS trend stuff did its job as well getting out up there last week
one version took 3rd entry
Posted by matt on 2nd of Sep 2022 at 05:05 pm
one version took 3rd entry on bear long on ES, one did not
again on market today's high if w4 then we might see w5 on Monday - on a new low if it doesn't crater you have pretty good MACD divergence that will finally setup on 30 min and 60 min time frames that could setup a better trade low. You could also have a double bottom truncated here as well
Matt -- I assume the
Posted by Ray on 2nd of Sep 2022 at 05:03 pm
Matt -- I assume the Bear Long and Strap ES trades triggered?
yes it did. No for
Posted by matt on 2nd of Sep 2022 at 05:09 pm
yes it did. No for bear long on SPY
Ok, got it. Thanks, Matt.
Posted by Ray on 2nd of Sep 2022 at 05:15 pm
Ok, got it. Thanks, Matt.
Giddiyup ! 3907 looks lucky
Posted by fredsaid on 2nd of Sep 2022 at 03:53 pm
Giddiyup ! 3907 looks lucky ... gonna roll da dice on the oversold conditions.
Fredsaid - 23 points in
Posted by steve on 2nd of Sep 2022 at 04:20 pm
Fredsaid - 23 points in minutes from 3907 - where are you buying tonight? LOL
Yah picking up 1 more
Posted by srusso1 on 2nd of Sep 2022 at 03:59 pm
Yah picking up 1 more SPY 11/18 386 call
I think we can bounce
Posted by fredsaid on 2nd of Sep 2022 at 04:00 pm
I think we can bounce till at least 405 with the traders coming back to work.
hope springs eternal
Posted by srusso1 on 2nd of Sep 2022 at 04:02 pm
hope springs eternal