I emailed this out - just in case make sure I didn't make any
typos like yesterday on that PUT LOL
Hello Everyone, as you know the market continues a strong rally,
up 3 days in a row now since Friday. Today the QE BTS will be
triggering a 2nd 2ntry short on SPY, for the website I'll show 10K
of SDS ETF and 2 SPY Put options with a strike price of 399
Expiring on Dec 30th. ES will also be taking a 3rd entry on the QE
BTS.
As far these reversion to mean systems taking shorts on this
rally and taking a bit of heat - here's a write up I did back in
September regarding how the systems work and especially if you are
new to them.
I just received your email for the systems trade, 1 minute
before the close. I don't have an options account and can't seem to
trade after hours. It's possible that I'm not understanding
how to do these trades after hours, but when I try, I'm blocked
from doing it for the reason I stated. This doesn't give me enough
time to trade the SPY while following your systems' trades.
This happened yesterday too, but I was able to take a trade
at the open since the price was close to the closing price. I
subscribed to your service primarily for the systems trades and
expected to have the trade notice at least 5-10 minutes before the
close.
At the moment, it looks like that would have been a good entry
which I may not be able to get in the a.m.
claire - just give it some time, there's been 55 trade signals
for ES and over 50 for SPY - this is your first foray into them.
Most of the time I send out an early warning notification, today I
did not, but posted it here a couple times that there would be some
trades. Because of the large amount of signals in this volatile
environment, you will have plenty of opportunity to see many trade
signals. If you missed this one, well there'll be 100 more. it's
gonna take time to get into the rhythm and the first thing you have
to do is get setup for it with your broker and also you need a plan
for how much capital that you plan to allocate to the system trades
and what you are going to trade. For example, you mentioned that
you are not setup for options -then don't do options, do ETF's
instead. I send out trade signals for the ES as well, but you can
substitute the SPY related ETF's in place of those should you wish
to follow them.
Again, it may be a bit frustrating for you today, but it's okay,
like I said, there has been a total of108 trade signals this year
for SPY and ES, you have plenty more coming. You can now get your
broker setup properly and decide your trading plan and capital
allocation.
I talked to a subscriber yesterday who has been following the
system signals and his trading account is up 50% for the year, and
what's more he told me that he struggled on the first handful of
trades getting used to them and deciding is plan. Stick around and
give it time, I think you will be happy you did
Thanks, Matt. Since I've never traded after hours, I was
ignorant about my ignorance about how to execute these trades,
but now I'm set for the next call and realize it may take a
bit of time before this goes smoothly for me.
Posted by frtaylor on 25th of Oct 2022 at 04:14 pm
Until you can iron out the kinks, just paper trade. In fact, you
can paper trade extended hours trading anytime, just to get the
order execution process dialed in.
Have you tried to call your trade desk to ask how to execute
trades after hours? Usually I have to mark the trade
specifically as extended hours trade on my platforms.
Thanks, Steve and all the others who responded to my concern
about being not able to trade after hours. I did call my broker and
learned that I CAN do that. However, it seems it's too late
for today since prices have dropped quite a bit. UGHH
No offense meant here, but you could also learn to do your own
T.A., and then you don't have to worry about somebody else's work.
Not a criticism. Here's one of mine as simple as it gets... an SMA
10/50 on a 30 min chart. Want to be sure of your trade, trade your
own work.
I have an IRA retirement account through Fidelity that I had
carried over from a previous job as a Chemist - I had to call them
to set up after hrs trading, that was many many years ago that I
did that. Being an IRA I can't short or buy options but after hrs
works fine and has for many years
again for the systems you need ability to do after hrs because
technically the systems are END OF BAR. ETF's are extremely liquid
and trade until 8 pm EST.
if for some reason you have some work related account that is
restricted - then you have to setup a separate account that is not
limited.
I cannot start confirming trades trades 30 min before the close
or 10 min before the close in order to accommodate 1 or a few who
can't execute in after hrs- I cannot change the nature of the end
of bar. I've also in the past been burned by sending trades early
only for the conditions to then go away a few moments before the
close because price moved a bunch of the last 10 min and I had to
retract those - which is something I want to avoid
on a side note: I do have the ability to reband the systems as
next bar open where I would issue the trade signals after the
market close to be executed the next day's open. I discussed doing
that with an ETF basket and I may do that for SPY as well, but it
would probably be a next years project
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systems trades
Posted by matt on 25th of Oct 2022 at 03:58 pm
I emailed this out - just in case make sure I didn't make any typos like yesterday on that PUT LOL
Hello Everyone, as you know the market continues a strong rally, up 3 days in a row now since Friday. Today the QE BTS will be triggering a 2nd 2ntry short on SPY, for the website I'll show 10K of SDS ETF and 2 SPY Put options with a strike price of 399 Expiring on Dec 30th. ES will also be taking a 3rd entry on the QE BTS.
As far these reversion to mean systems taking shorts on this rally and taking a bit of heat - here's a write up I did back in September regarding how the systems work and especially if you are new to them.
I just received your email
Posted by claire on 25th of Oct 2022 at 04:10 pm
I just received your email for the systems trade, 1 minute before the close. I don't have an options account and can't seem to trade after hours. It's possible that I'm not understanding how to do these trades after hours, but when I try, I'm blocked from doing it for the reason I stated. This doesn't give me enough time to trade the SPY while following your systems' trades. This happened yesterday too, but I was able to take a trade at the open since the price was close to the closing price. I subscribed to your service primarily for the systems trades and expected to have the trade notice at least 5-10 minutes before the close.
At the moment, it looks like that would have been a good entry which I may not be able to get in the a.m.
claire - just give it
Posted by matt on 25th of Oct 2022 at 05:00 pm
claire - just give it some time, there's been 55 trade signals for ES and over 50 for SPY - this is your first foray into them. Most of the time I send out an early warning notification, today I did not, but posted it here a couple times that there would be some trades. Because of the large amount of signals in this volatile environment, you will have plenty of opportunity to see many trade signals. If you missed this one, well there'll be 100 more. it's gonna take time to get into the rhythm and the first thing you have to do is get setup for it with your broker and also you need a plan for how much capital that you plan to allocate to the system trades and what you are going to trade. For example, you mentioned that you are not setup for options -then don't do options, do ETF's instead. I send out trade signals for the ES as well, but you can substitute the SPY related ETF's in place of those should you wish to follow them.
Again, it may be a bit frustrating for you today, but it's okay, like I said, there has been a total of108 trade signals this year for SPY and ES, you have plenty more coming. You can now get your broker setup properly and decide your trading plan and capital allocation.
I talked to a subscriber yesterday who has been following the system signals and his trading account is up 50% for the year, and what's more he told me that he struggled on the first handful of trades getting used to them and deciding is plan. Stick around and give it time, I think you will be happy you did
Thanks, Matt. Since I've never
Posted by claire on 25th of Oct 2022 at 05:26 pm
Thanks, Matt. Since I've never traded after hours, I was ignorant about my ignorance about how to execute these trades, but now I'm set for the next call and realize it may take a bit of time before this goes smoothly for me.
Until you can iron out
Posted by frtaylor on 25th of Oct 2022 at 04:14 pm
Until you can iron out the kinks, just paper trade. In fact, you can paper trade extended hours trading anytime, just to get the order execution process dialed in.
Limit order and EXT, extended
Posted by retirefire on 25th of Oct 2022 at 04:13 pm
Limit order and EXT, extended hours
Have you tried to call
Posted by cghursh on 25th of Oct 2022 at 04:13 pm
Have you tried to call your trade desk to ask how to execute trades after hours? Usually I have to mark the trade specifically as extended hours trade on my platforms.
Thanks, Steve and all the
Posted by claire on 25th of Oct 2022 at 04:35 pm
Thanks, Steve and all the others who responded to my concern about being not able to trade after hours. I did call my broker and learned that I CAN do that. However, it seems it's too late for today since prices have dropped quite a bit. UGHH
You could take 1/2 position
Posted by frtaylor on 25th of Oct 2022 at 05:04 pm
You could take 1/2 position in the after-hours, and see if maybe there's a better entry in the morning (either pre-open or after the open).
Thanks. Good idea. I may
Posted by claire on 25th of Oct 2022 at 05:28 pm
Thanks. Good idea. I may do that.
No offense meant here, but
Posted by brophy on 25th of Oct 2022 at 05:35 pm
No offense meant here, but you could also learn to do your own T.A., and then you don't have to worry about somebody else's work. Not a criticism. Here's one of mine as simple as it gets... an SMA 10/50 on a 30 min chart. Want to be sure of your trade, trade your own work.
You can most certainly trade
Posted by steve on 25th of Oct 2022 at 04:12 pm
You can most certainly trade after hours - contact your broker. By the way, which broker do you use for trading?
I have an IRA retirement
Posted by matt on 25th of Oct 2022 at 04:34 pm
I have an IRA retirement account through Fidelity that I had carried over from a previous job as a Chemist - I had to call them to set up after hrs trading, that was many many years ago that I did that. Being an IRA I can't short or buy options but after hrs works fine and has for many years
again for the systems you need ability to do after hrs because technically the systems are END OF BAR. ETF's are extremely liquid and trade until 8 pm EST.
if for some reason you have some work related account that is restricted - then you have to setup a separate account that is not limited.
I cannot start confirming trades trades 30 min before the close or 10 min before the close in order to accommodate 1 or a few who can't execute in after hrs- I cannot change the nature of the end of bar. I've also in the past been burned by sending trades early only for the conditions to then go away a few moments before the close because price moved a bunch of the last 10 min and I had to retract those - which is something I want to avoid
on a side note: I do have the ability to reband the systems as next bar open where I would issue the trade signals after the market close to be executed the next day's open. I discussed doing that with an ETF basket and I may do that for SPY as well, but it would probably be a next years project