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Sunday, May 8, 2011
Euro, PRS Channels, and Long ES, BPT account
Went long ES last week
PRS channels from last week showed that Euro was probably at a bottom, expecting a bounce up from the RPS 177 channel line. See chart.
Check out this "terrible" trade results using the SPY trade system (trade on the S&P 500, complex mechanical system) ONLY 81% winning trades, heck the long term average on the "simple system" is 91%.
The creator of this SPY trade system, Matt from BPT, is probably more concerned today with other things, than the small ramp in the futures. His wife is having a baby on Mother's day, way cool, let's wish them the best.
There are 2 systems to this system, the simple "all in" buy a unit or sell a unit, or the "Multi Entry" system which scales in and scales out. The Multi-entry system performs better, smaller max draw down, higher profits, but of course needs more "baby sitting", i.e. more trades, although they are still trades at close or on open, so not too bad.
I was going to trade this system with 100k using straight S&P equivalents, but instead will run the Multi Entry system, using 2, 3, 4, or 5 futures (ES mini)--it is actually more "notional money" than 100k. I will report back occasionally on success, but I will not "give away" the current trade, as this is a product they sell. They are limiting membership, which is good--if too many people get in the the system may not work as well.
Sign up through link on my blog, on upper left, it doesn't cost you any more. Do it today, before the opportunity is gone.
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Insightful and Useful Comment!