Thursday, June 27, 2013

Update on the SPY RSI 2 and SPX Ver 2 systems

Hello everyone, as you know the market is once again up nicely today at least so far.  This update however is on the SPY RSI 2 and SPX Ver 2 systems, which took long positions last week at the close of Thursday and Friday. Congrats to anyone who took the system trades as they are now nicely profitable.

**CLICK HERE** for a quick video overview

SPY RSI 2 system:

This system took a 60% long position last week at Thursday's close and a 40% position at Friday's close for a 100% position.  This system will exit its trade today at the close and go to cash if SPY closes above the 9 day simple moving average.  Currently the 9 SMA is at a price of $161.06, while SPY is at $161.60, which is well above the 9 SMA, however it's the close that matters.  I will send out a verification email near or at the close of the day for confirmation - however it's this simple, if SPY closes over the 9 SMA, the system will sell its long position and go to cash for a nice winning trade!

SPX Ver 2 system:

This system took a long position last week on Thursday the close of 100% (the system does not scale in).  The trade rules are identical for the SPX Ver 2 and SPY Ver 2 systems, however the SPY Ver 2 system didn't take a position last week because of the inherit differences between SPY and SPX such as gaps, indicators, price etc.

However please note that unlike the SPY RSI 2 system, this system is NOT going to exit its long position, one of its trending indicators was triggered which will allow the system to hold this trade for a longer period of time, hopefully for higher prices.

Make sure to watch the short video that I posted above.  Remember these systems are listed in the Tradestation Systems section of website where you can view detailed trade statistics, performance reports, and rules.  When the systems take or exit a trade, I update this section about 10 - 15 min after the market closes.

If you took these trades per the systems, congrats as they are nicely profitable, otherwise trade them as you see fit, make your own trading decisions.

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