Replies to post #103529 on SPDR S&P 500 (SPY)

[denmo83]

It's another tool...

I started closing long positions when the top spotters were triggered.

I opened shorts when 1193 broke and added more when 1163 broke.

Whipsaw is an issue. I'm assuming my positions can get whipped just as yours can.

When we broke below 1163 last week, I got pretty heavy short. Then we bounced to the 50dMA above 1170 and I got stopped out. Then the market cratered and I didn't re-short below 1163.

I flucked up, but I'm getting better. I have the targets, it's putting them to use that gets tricky.

Fortunately, the 26 longside positions I had got sold after the spotters. By the time 1193 broke, I was able to short.

I wish there was a way to let the algo trade the account and leave me out of it.

Once the trend is established, it's easier to ride it. You know I stayed long more than most. I heard all the way up past 1200 that we were going to zero. That trend was established at 1096 and from 1096 to 1219.80, I kept hearing we weren't going up another point.

[denmo83]

ES was just at 1083.25 and rejected...

So to make a call, short right there and 1083.25 is your stoploss.

Eventually, we will come away from ES 1083.25. Being on the right side seems simple, right? Try it. This is an algo pointing out that target, not me. Quite obviously, the market is attracted to 1083.25. It's a very important target.

ES is now at 1079.25.

The trade is profitable and the stoploss is set.

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