Guys, I have been trading the SPY system for many years and also
use options. As I live in New Zealand I do not have the full
trading day available to me. At best I get 3 hours in summer and 1
hour in winter to trade while the market is open. Steve always says
what is your trading plan? Make sure you have one. For all of the
newbies consider doing the following. If there is an early warning
from BPT that one of the systems is going long(or short)
immediately go to your trading platform and develop the trade you
would like to use. Do not enter yet. James sent out an e-mail
40minutes before the market closed which should have given you
enough time to prepare your trade, looking at risk/reward etc(I
trade spreads). Obviously as the market moves even further down,
the long position you have waiting will be more relevant. Make
adjustments to the waiting trade. Sometimes i use the SPXL or the
SQQQ and therefore enter the trade 2-3 minutes before market close.
If I trade SPY or QQQ, I have an additional 15 minutes during which
I can enter the trade. Just another comment, I do not trade many
other positions other than the SPY/ES systems and therefore my day
is not cluttered with too many other possible trades. TRADE LESS it
works.
Taking today, the price kept dropping and therefore it was a
no-brainer to enter the trade before James confirmed both 15
minutes after the market closed for the day.
i have shared my methods with quite a few of the newbies and I
hope they were able to develop their own trading plans utilizing
the SPY system from BPT. Guys, these systems are reversion to
mean. They do take large draw-downs by their very nature but the
PROFIT FACTOR is phenomenal. If you stick to a STRONG trading plan
you will also be able to succeed.
Again if anyone wants to contact me i would be happy to
assist.
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Guys, I have been trading
Posted by mundy on 21st of Feb 2023 at 07:07 pm
Guys, I have been trading the SPY system for many years and also use options. As I live in New Zealand I do not have the full trading day available to me. At best I get 3 hours in summer and 1 hour in winter to trade while the market is open. Steve always says what is your trading plan? Make sure you have one. For all of the newbies consider doing the following. If there is an early warning from BPT that one of the systems is going long(or short) immediately go to your trading platform and develop the trade you would like to use. Do not enter yet. James sent out an e-mail 40minutes before the market closed which should have given you enough time to prepare your trade, looking at risk/reward etc(I trade spreads). Obviously as the market moves even further down, the long position you have waiting will be more relevant. Make adjustments to the waiting trade. Sometimes i use the SPXL or the SQQQ and therefore enter the trade 2-3 minutes before market close. If I trade SPY or QQQ, I have an additional 15 minutes during which I can enter the trade. Just another comment, I do not trade many other positions other than the SPY/ES systems and therefore my day is not cluttered with too many other possible trades. TRADE LESS it works.
Taking today, the price kept dropping and therefore it was a no-brainer to enter the trade before James confirmed both 15 minutes after the market closed for the day.
i have shared my methods with quite a few of the newbies and I hope they were able to develop their own trading plans utilizing the SPY system from BPT. Guys, these systems are reversion to mean. They do take large draw-downs by their very nature but the PROFIT FACTOR is phenomenal. If you stick to a STRONG trading plan you will also be able to succeed.
Again if anyone wants to contact me i would be happy to assist.