FYI early heads up: out of the open reversion to mean short
systems. At this moment all of the ES systems are meeting their
exit conditions and would exit now if price closed here.
Not yet for the two SPY short systems
the issue of course with the ES systems is that we have two big
names reporting after the bell tonight, and the daily ES bar
doesn't close until 5 pm, so if futures spike after those earnings
the exit will be lost even if it's being met by the cash
close.
one option to consider if the conditions are still being met for
an exit at the cash close - exit partial of the ES shorts to be
safe because of the AMZN and AAPl earnings after the bell
Thank you Matt for all your work on the SPY/ES system. As I have
mentioned before I have trolled the internet and reccomendations of
other systems but the Profit Factor is nothing like your
systems.
BUT... It takes discipline to take the trade and then to close
it when the signal is given. Today was a case in point. Do you
close all THE SYSTEMS OR ONLY THE ES OPEN SHORTS. Switch off
mind/emotion.... follow signal, pocket the profits on the ES and
then watch the remainder of the open positions sky rocket after the
bell!
Posted by bpozdoll1717 on 27th of Oct 2022 at 04:18 pm
Matt, amazing work! And bold call to hold everything and
follow the system to the end! I know it is not easy and you
care about us and want to make the right decision. Very
appreciative.
thank you guys much appreciated! it's really hard working trying
to keep up on all this and communicate it, and I know hard for you
guys with all the different systems etc
Posted by frtaylor on 27th of Oct 2022 at 03:23 pm
For me, this is the hard part of adhering to the system trades.
It's profitable, but not hugely so; the market looks like it wants
another leg higher (c of abc); and two huge companies report
tonight. Plus the down action has been very choppy, so it
looks like it's corrective and can turn up at any time.
It's very difficult to beat the system trades
in totoby exiting early, even just partially. But every
bone in my body says sell, or at least put a breakeven stop in.
Posted by elementsix on 27th of Oct 2022 at 03:55 pm
SPY Systems - It's always hard to hold when things go against
you first and then claw back to near even. But over time the
systems do VERY well. They are based on technicals, not on
fundamentals (earnings) so i try to stick with them, especially
when I find myself second guessing things.
Posted by DigiNomad on 27th of Oct 2022 at 03:40 pm
Frtaylor - there are various ways to approach trading the
systems. I wasn't super confident on the last call so I used a
credit spread and posted it for the community. It's up about 14% so
far, even though the market hasn't moved much since then.
Posted by frtaylor on 27th of Oct 2022 at 03:47 pm
Unfortunately my retirement account isn't big enough yet for
much in the way of credit spreads - uses too much margin, etc. I
did buy an otm call w/ expiration tomorrow, to protect against a
big move up.
Posted by DigiNomad on 27th of Oct 2022 at 03:52 pm
Rule of thumb for my spreads is 10% potential ROE. So, if I'm
targeting a 200 dollar gain with a credit spread, my margin will be
no greater than 2K...often less as I get more than 10% ROE most of
the time (selling 16 delta strikes). Hard to imagine you're
using less than 2K of capital if the trade is going to be
worthwhile, considering the systems trades often just shoot for a
percent here and a percent there kind of thing.
SPY and ES systems update
Posted by matt on 27th of Oct 2022 at 03:15 pm
FYI early heads up: out of the open reversion to mean short systems. At this moment all of the ES systems are meeting their exit conditions and would exit now if price closed here.
Not yet for the two SPY short systems
the issue of course with the ES systems is that we have two big names reporting after the bell tonight, and the daily ES bar doesn't close until 5 pm, so if futures spike after those earnings the exit will be lost even if it's being met by the cash close.
one option to consider if the conditions are still being met for an exit at the cash close - exit partial of the ES shorts to be safe because of the AMZN and AAPl earnings after the bell
Thank you Matt for all
Posted by mundy on 27th of Oct 2022 at 05:02 pm
Thank you Matt for all your work on the SPY/ES system. As I have mentioned before I have trolled the internet and reccomendations of other systems but the Profit Factor is nothing like your systems.
BUT... It takes discipline to take the trade and then to close it when the signal is given. Today was a case in point. Do you close all THE SYSTEMS OR ONLY THE ES OPEN SHORTS. Switch off mind/emotion.... follow signal, pocket the profits on the ES and then watch the remainder of the open positions sky rocket after the bell!
on the system stuff the
Posted by matt on 27th of Oct 2022 at 04:04 pm
on the system stuff the SPY QE BTS missed exiting by pennies, the hi mid low wasn't as close to exiting
for the ES open short systems - all are showing exits at this moment
damn ES has come off
Posted by matt on 27th of Oct 2022 at 04:43 pm
damn ES has come off those lows quite a bit, would have been nice to just close those ES systems out after the open - ES closes here in 19 min
I'll be sending out an alert before that close
Matt, amazing work! And
Posted by bpozdoll1717 on 27th of Oct 2022 at 04:18 pm
Matt, amazing work! And bold call to hold everything and follow the system to the end! I know it is not easy and you care about us and want to make the right decision. Very appreciative.
thank you guys much appreciated!
Posted by matt on 27th of Oct 2022 at 04:21 pm
thank you guys much appreciated! it's really hard working trying to keep up on all this and communicate it, and I know hard for you guys with all the different systems etc
You’re the 💣, Matt (
Posted by mdgfain on 27th of Oct 2022 at 04:24 pm
You’re the 💣, Matt ( and Steve)! Thanks for all your hard work on our behalf!
Very timely. I don't how
Posted by timebandit on 27th of Oct 2022 at 04:13 pm
Very timely. I don't how the systems do it, but these are masterful creations, Matt. Hats off!
For me, this is the
Posted by frtaylor on 27th of Oct 2022 at 03:23 pm
For me, this is the hard part of adhering to the system trades. It's profitable, but not hugely so; the market looks like it wants another leg higher (c of abc); and two huge companies report tonight. Plus the down action has been very choppy, so it looks like it's corrective and can turn up at any time.
It's very difficult to beat the system trades in totoby exiting early, even just partially. But every bone in my body says sell, or at least put a breakeven stop in.
SPY Systems - It's always
Posted by elementsix on 27th of Oct 2022 at 03:55 pm
SPY Systems - It's always hard to hold when things go against you first and then claw back to near even. But over time the systems do VERY well. They are based on technicals, not on fundamentals (earnings) so i try to stick with them, especially when I find myself second guessing things.
Frtaylor - there are various
Posted by DigiNomad on 27th of Oct 2022 at 03:40 pm
Frtaylor - there are various ways to approach trading the systems. I wasn't super confident on the last call so I used a credit spread and posted it for the community. It's up about 14% so far, even though the market hasn't moved much since then.
Unfortunately my retirement account isn't
Posted by frtaylor on 27th of Oct 2022 at 03:47 pm
Unfortunately my retirement account isn't big enough yet for much in the way of credit spreads - uses too much margin, etc. I did buy an otm call w/ expiration tomorrow, to protect against a big move up.
Rule of thumb for my
Posted by DigiNomad on 27th of Oct 2022 at 03:52 pm
Rule of thumb for my spreads is 10% potential ROE. So, if I'm targeting a 200 dollar gain with a credit spread, my margin will be no greater than 2K...often less as I get more than 10% ROE most of the time (selling 16 delta strikes). Hard to imagine you're using less than 2K of capital if the trade is going to be worthwhile, considering the systems trades often just shoot for a percent here and a percent there kind of thing.
sent you a pm.
Posted by frtaylor on 27th of Oct 2022 at 09:52 pm
sent you a pm.