no, 20K is the normal entry now for SPY, it's roughly equivalent
to 1 MES contract, or used to be
I use $10,000 when I'm trying to reduce risk such as 2 systems
go long on the same day, I might elect to use 1/2. That's why
those two SPY systems that went long on the same day the
Trend/Pullback and the QE BTS, I used 10K for each instead of 20K,
as those systems can be a bit early at times and need 2 or 3
entries
and of course the times when I decide to do a scale out such as
selling 1/2, when I make the entry originally $20K, I'll then
change it to two entries of $10,000 each to reflec t the scale
out
On the right side I'll start adding comments like I used to have
such as 'sold 1/2' or entered 1/2 position etc
for ES/MES, I try to do 2 contracts per sub system as well,
unless I'm trying to reduce risk such multiple sub systems going
long on the same day I might elect to make some of those 1 MES
entry vs 2 etc
again at the end of the day I'm using this as a template,
you guys it's going to depend on what your account size is, risk
tolerance etc - that said, you should try to go about it in some
methodical way because that's what the systems are doing.
Make a plan for your entry sizes and what you will do when
there are multiple entries etc
I edited the post and added this but if you didn't see that,
here's that added part
again at the end of the day I'm using this as a template,
for you guys it's going to depend on what your account size is,
risk tolerance etc and your position sizes may the sizes I show or
if you had a big account perhaps you would be trading 10 or 20
contracts or ES futures over micro, or 50K or 100K of SPY and SSO-
that said, you should try to go about it in some methodical way
because that's what the systems are doing. Make a plan for
your entry sizes and what you will do when there are multiple
entries etc
also guys as far as these open mean reversion systems, it
remains to be seen what unfolds here: If the bounce only ends up
being a 4th wave bounce as one option Steve showed last night,
perhaps a couple of these systems can close out for profits,
however some may hold and require additional entries if we get that
next flush down to fill the open gap.
I sent out alert for the mean reversion SPY/ES systems
Posted by matt on 16th of Apr 2024 at 04:04 pm
CCI system triggered 1st entry long for SPY, while Trend/Pullback still looks like it will trigger at the ES bar close
Matt, did you take a
Posted by kab34 on 17th of Apr 2024 at 07:48 am
Matt, did you take a double entry on the CCI ($20,000 vs. $10,000) because of its high success rate? Just wondering. Thanks.
no, 20K is the normal
Posted by matt on 17th of Apr 2024 at 09:44 am
no, 20K is the normal entry now for SPY, it's roughly equivalent to 1 MES contract, or used to be
I use $10,000 when I'm trying to reduce risk such as 2 systems go long on the same day, I might elect to use 1/2. That's why those two SPY systems that went long on the same day the Trend/Pullback and the QE BTS, I used 10K for each instead of 20K, as those systems can be a bit early at times and need 2 or 3 entries
and of course the times when I decide to do a scale out such as selling 1/2, when I make the entry originally $20K, I'll then change it to two entries of $10,000 each to reflec t the scale out
On the right side I'll start adding comments like I used to have such as 'sold 1/2' or entered 1/2 position etc
for ES/MES, I try to do 2 contracts per sub system as well, unless I'm trying to reduce risk such multiple sub systems going long on the same day I might elect to make some of those 1 MES entry vs 2 etc
again at the end of the day I'm using this as a template, you guys it's going to depend on what your account size is, risk tolerance etc - that said, you should try to go about it in some methodical way because that's what the systems are doing. Make a plan for your entry sizes and what you will do when there are multiple entries etc
Thanks for the explanation, Matt.
Posted by kab34 on 17th of Apr 2024 at 10:01 am
Thanks for the explanation, Matt.
I edited the post and
Posted by matt on 17th of Apr 2024 at 09:48 am
I edited the post and added this but if you didn't see that, here's that added part
again at the end of the day I'm using this as a template, for you guys it's going to depend on what your account size is, risk tolerance etc and your position sizes may the sizes I show or if you had a big account perhaps you would be trading 10 or 20 contracts or ES futures over micro, or 50K or 100K of SPY and SSO- that said, you should try to go about it in some methodical way because that's what the systems are doing. Make a plan for your entry sizes and what you will do when there are multiple entries etc
Did ES trigger?
Posted by bp17 on 16th of Apr 2024 at 06:40 pm
Did ES trigger?
you can also check the
Posted by matt on 16th of Apr 2024 at 08:06 pm
you can also check the actual mean reversion pages
https://breakpointtrades.com/new_spy/#ES
here's a condensed list of
Posted by matt on 16th of Apr 2024 at 08:10 pm
here's a condensed list of the open trades
also guys as far as
Posted by matt on 17th of Apr 2024 at 09:52 am
also guys as far as these open mean reversion systems, it remains to be seen what unfolds here: If the bounce only ends up being a 4th wave bounce as one option Steve showed last night, perhaps a couple of these systems can close out for profits, however some may hold and require additional entries if we get that next flush down to fill the open gap.
Yes, look below (or use
Posted by steve on 16th of Apr 2024 at 06:57 pm
Yes, look below (or use the search function here) for your answer - also check your email prior and you will avoid even having to ask that question.