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Hi Mark, yes–we just had interesting behavior across all signals. All of the LONG signals issued closes and then the SHORT signal issued an open. This was followed by a pop up in prices (not what we want). So at least in the immediate term, the signals seemed to have anticipated things incorrectly.
However, their perspective is more on the “several day” to weeks outlook. Based on this, I was expecting a drop in price to follow.
But now a couple of LONG signals have reopened and we seem to be holding about $4K.
I think we’ll have to wait and see. The system does not incorporate stop losses, so to truly follow the system, you’d await the close on the short. The signals definitely do issue losses…but are usually good at minimizing losses and letting wins run.
As a roadmap note, we’re working on finalizing a new signal that will be designed for day trading. It can issue long or short trades and they won’t conflict. Right now, we have the challenge that the SHORT and LONG signals can conflict.
We’ll keep you updated on this and great question!
Thanks Justin, very interesting information. I follow it closely but waiting with bigger investments just to get some more experience with it before going “all in”.
Yes, less conflicting long/short signals would be ideal. Also introducing stop losses would be a good option for those who wish to continue managing their positions themselves even after the auto trader release since it is a 24/7 volatile market.
Agreed! This will be coming with the new synced version. Unfortunately, this Stripe credit card issue has been an unexpected management and development drain. Once complete, we will double back down on getting this implemented and available.
We’ve also had several requests asking about stop losses, so it’ll make sense to post some official guidance in the interim. Look for that soon as well.
Hi @daam37, yes–it is next in the pipeline to be published.
The current alert situation has us all watching. The BTC Short trade is currently at a ~1.3% loss. But both it and the BTC Trade Meter remain fairly bearish. It’s also unusual that Litecoin has separated so much.
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