Posted by patellee on 25th of Apr 2023 at 04:40 pm
I am somewhat confused. I saw the most recent post
indicated the SPY breakout was doing a second entry here but the
most recent post stating it closed out. Can you please help
me understanding the difference.
I was commenting on it intra day - if you go back and read my
comments I said that when the breakout system takes a 2nd entry it
is very close to stopping out.
again that was mid day - but by the time the market closed
prices had sold a lot more than when the breakout system was
looking for that 2nd entry mid day (and remember the main stop is
always close by) thus hitting the stop out and thus negating a
second entry - you can only have 2nd entry if the system is
still long, the main stop triggered later
Posted by patellee on 25th of Apr 2023 at 04:46 pm
Thank you for the clarification Matt; always appreciated.
I am going to elect to take a second entry on that system for 2
reasons. I want to to be hedged against the open short
and because other systems are also flagging long so there may be a
bump. This is of course a personal choice.
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I am somewhat confused. I
SPY and ES systems possible trades
Posted by patellee on 25th of Apr 2023 at 04:40 pm
I am somewhat confused. I saw the most recent post indicated the SPY breakout was doing a second entry here but the most recent post stating it closed out. Can you please help me understanding the difference.
I was commenting on it
Posted by matt on 25th of Apr 2023 at 04:42 pm
I was commenting on it intra day - if you go back and read my comments I said that when the breakout system takes a 2nd entry it is very close to stopping out.
again that was mid day - but by the time the market closed prices had sold a lot more than when the breakout system was looking for that 2nd entry mid day (and remember the main stop is always close by) thus hitting the stop out and thus negating a second entry - you can only have 2nd entry if the system is still long, the main stop triggered later
close matters not intra day
Thank you for the clarification
Posted by patellee on 25th of Apr 2023 at 04:46 pm
Thank you for the clarification Matt; always appreciated.
I am going to elect to take a second entry on that system for 2 reasons. I want to to be hedged against the open short and because other systems are also flagging long so there may be a bump. This is of course a personal choice.