SPY trading with Birdstone

Discussion in 'Journals' started by birdstone, Aug 26, 2009.

  1. The SPY's have enormous volume and are very liquid.

    They trade like a stock, and are priced like a stock.

    To me, the SPY's are the best instantaneous indicator of present market direction.

    This journal is about trading the SPY's. Thank you.
  2. A trade for thursday--

    sell 10 spy @ 103ish (i'll have the price when I make the trade tomorrow morning around the open), and i'll post it here.

    stop is 1 point higher.

    Looking for 2 points.

    So looking to make 2 points, or lose 1 point.
  3. Primarily, this journal will try to either make 2 points, or lose 1 poiint per trade.

    With this said--

    I've sold 10 SPY's @ 103.2

    firm stop is 104.20

    looking to buy around 101.25--I don't think it will get here this week.
  4. OK, moved fast today!

    Firm buy order $101.25
  5. Birdstone

    1 Win
    0 Loss

    sold 10 spy @ 103.2 => covered @ 101.2

    +2 points


    Next week. Looking to sell 10 spy's around the open tuesday.

    Same system => looking for 2 points of profit or 1 point of loss

    Have a great weekend!
  6. Time to go for winner #2

    10am et approx

    sold 10 spy @ 105.3


    stop @ 106.55

    buy @ 102.3