FHI the QE BTS closed out of its short on SPY. The Hi Mid Lo did
NOT close out - see attached image. QE BTS is the chart on upper
right, the 2nd end 3rd entry made money. The Hi Mid Low is just
below that (still open), and the Strap for ES has an open 1st entry
short, bottom middle
The cash market is now closed, however the SH and other ETF's
trade until 8 pm EST, for another 4 hrs, so you have plenty of time
to exit
Since the High/Mid/Low is 98% profitable, and the Strap is 100%
profitable, wouldn't it make sense to hold any short positions I
currently have since they are both still open, even if some of the
less profitable SPY trades are closing out? .....or is that
logic flawed somehow?
That sounds reasonable to me. Ultimately it is up to everyone
individually what they decide to do based on their plan. If you are
following a particular system "exactly as it is" for example, then
you would be entering when it enters, and closing when it closes.
Take the instruction, don't look at it again until receiving
another instruction is how I view it.
I've shared with my grandson how to do it, so when he has a
trade he just follows it "as is". Papa, what are the systems going
to do today?
For me personally, there are times when I will alter the
strategy, though it is rare. Since I had some good long trades
recently against my short system trades I was holding, I sold out
of everything yesterday as I don't want to trade the FOMC meeting
today. I just preferred to take profits on both sides when it was
most favorable during the day. My long stuff sold in premarket near
resistance 3,920s. Short stuff was after hours on that good rip.
Just how it worked out when opportunity presented itself. My
trading account was at a new high for the year again. I trade more
actively on occasion. There are times when I have other things I'm
focusing on and the systems are ideal because all I need to do is
just follow them and go back to life, my other priorities, check
things near the close, and done.
A few things I've learned, #1 Less is more. Pick a strategy and
specialize in it. #2 I don't always have to be in a
trade.
I think the systems are a great way to help with the confidence
of trading (Fishing with others in the same place) while providing
an opportunity to develop your own style over time.
Thanks Matt. That was an important point you made yesterday
regarding the systems trades and how they leverage with their
entries.
1st entry 1x exposure, 2nd entry leveraged to 2x, and 3x for a
3rd entry, etc. Hugely important for best odds of success in the
strategy.
I've done it with equal entries in the past without leverage and
it can leave a trade sometimes borderline when nearing the 5 day
moving average if conditions exit there. Just takes a little
practice to get all the pieces together.
When learning a strategy, I find it best to just specialize in
it and not look at anything else. I learn better that way. That's
just me. I'm like that with art, give me 70 colored pencils and I
just pick 5 from the box, and only they exist for me. I can add
later after I use 5.
Speaking of art, here's my most recent, Owl..very
relaxing
Owls are cool, try a woodpecker too. Thanks for
sharing what should be obvious on the double down, triple down into
increasingly more uncomfortable trades.
since the 2nd and 3rd entry use leveraged ETF's 2X and 3X, those
more than make up for the losing trade on the 1st entry that uses
the 1X. Again the systems have a methodical reason for how they do
their trades
SPY and ES systems trade notification: SPY QE BTS closed out, Hi Mid Lo continues to hold
Posted by matt on 1st of Nov 2022 at 04:08 pm
FHI the QE BTS closed out of its short on SPY. The Hi Mid Lo did NOT close out - see attached image. QE BTS is the chart on upper right, the 2nd end 3rd entry made money. The Hi Mid Low is just below that (still open), and the Strap for ES has an open 1st entry short, bottom middle
The cash market is now closed, however the SH and other ETF's trade until 8 pm EST, for another 4 hrs, so you have plenty of time to exit
Since the High/Mid/Low is 98%
Posted by blayden on 2nd of Nov 2022 at 01:15 am
Since the High/Mid/Low is 98% profitable, and the Strap is 100% profitable, wouldn't it make sense to hold any short positions I currently have since they are both still open, even if some of the less profitable SPY trades are closing out? .....or is that logic flawed somehow?
That sounds reasonable to me.
Posted by fundamentalvalues on 2nd of Nov 2022 at 06:53 am
That sounds reasonable to me. Ultimately it is up to everyone individually what they decide to do based on their plan. If you are following a particular system "exactly as it is" for example, then you would be entering when it enters, and closing when it closes. Take the instruction, don't look at it again until receiving another instruction is how I view it.
I've shared with my grandson how to do it, so when he has a trade he just follows it "as is". Papa, what are the systems going to do today?
For me personally, there are times when I will alter the strategy, though it is rare. Since I had some good long trades recently against my short system trades I was holding, I sold out of everything yesterday as I don't want to trade the FOMC meeting today. I just preferred to take profits on both sides when it was most favorable during the day. My long stuff sold in premarket near resistance 3,920s. Short stuff was after hours on that good rip. Just how it worked out when opportunity presented itself. My trading account was at a new high for the year again. I trade more actively on occasion. There are times when I have other things I'm focusing on and the systems are ideal because all I need to do is just follow them and go back to life, my other priorities, check things near the close, and done.
A few things I've learned, #1 Less is more. Pick a strategy and specialize in it. #2 I don't always have to be in a trade.
I think the systems are a great way to help with the confidence of trading (Fishing with others in the same place) while providing an opportunity to develop your own style over time.
very nice edcational write up
Posted by matt on 2nd of Nov 2022 at 09:49 am
very nice edcational write up and summary!
Thanks Matt. That was an
Posted by fundamentalvalues on 2nd of Nov 2022 at 11:05 am
Thanks Matt. That was an important point you made yesterday regarding the systems trades and how they leverage with their entries.
1st entry 1x exposure, 2nd entry leveraged to 2x, and 3x for a 3rd entry, etc. Hugely important for best odds of success in the strategy.
I've done it with equal entries in the past without leverage and it can leave a trade sometimes borderline when nearing the 5 day moving average if conditions exit there. Just takes a little practice to get all the pieces together.
When learning a strategy, I find it best to just specialize in it and not look at anything else. I learn better that way. That's just me. I'm like that with art, give me 70 colored pencils and I just pick 5 from the box, and only they exist for me. I can add later after I use 5.
Speaking of art, here's my most recent, Owl..very relaxing
Owls are cool, try a
Posted by steveo on 2nd of Nov 2022 at 11:39 am
Owls are cool, try a woodpecker too. Thanks for sharing what should be obvious on the double down, triple down into increasingly more uncomfortable trades.
Sure Stevo, will have to
Posted by fundamentalvalues on 2nd of Nov 2022 at 11:49 am
Sure Stevo, will have to look for one. Always glad to share too and hear what others are up to..
I have maybe a dozen friends and family named Steve now haha. My Pap, Dad, two brothers, all Steve. A few here. Good guys!
since the 2nd and 3rd
Posted by matt on 1st of Nov 2022 at 04:14 pm
since the 2nd and 3rd entry use leveraged ETF's 2X and 3X, those more than make up for the losing trade on the 1st entry that uses the 1X. Again the systems have a methodical reason for how they do their trades
hi mid low still remains open however
Can you explain some of
Posted by watcdy on 1st of Nov 2022 at 05:00 pm
Can you explain some of the numbers attached on top of each candle 20 -25 -74. etc ?