LiveTradingSystem Weekly Report
Our live trading system booked seven profitable trades in a row!
Simple Money Zone Live Trading System = Weekend Summary – 03/19/2023
Trading system review: In the last week, we closed out two short trades with booked profits. One of the short trades was closed out intraday on 03/16/2023 with a profit because the system hit the trailing stop during the day. Following the system’s rules, we re-entered another short trade at the market closing price on 03/16/2023 and closed it out at the close on 03/17/2023 with a booked profit. This is a good example of what to do after we got stopped out in the middle of signal and why stop out then re-enter is important if the signal is unchanged. We got a better re-entering price after all. This is consistent with the system backtesting in a probabilistic sense. It should be also noted that all trades were executed at the market closing price, and the stops were executed automatically.
Trading system status: The system entered a long position at the market closing price on 03/17/2023 via $SPY. The stop-loss for $SPY has been set at 381.22. This trade is a little bit tricky because the signal is on the edge, but it still satisfies the long condition. If the market does not show enough strength this coming Monday, the system will switch back to the short signal quickly.
System and/or market outlook: Personally, I think the market will rally for a couple of days until the FOMC meeting and then decline again. However, there is nothing I can know in advance, and there is nothing I can do at this point except for setting up the stop and following the signal in real-time. This market is very tricky and confusing, with many news events happening over the weekend and next week. Trading the news is hard, to say the least. I will just follow the rules. The system cannot win everything, and the only thing I can do is not feel sad if the system doesn’t get it right and not feel excited if it does get it right, and just follow in the long run. It’s all the trades as a total that make sense in the end and contribute to the final return.
Disclaimer: Trading stocks involves high risks, and you can lose money. You are responsible for your own investment decisions.
Live Trading System: hosted by David Lee (Twitter ID: SimpleMoneyZone).