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Poll on users of Simons lazy system

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Not applicable
People, i just am curious as to how many of you use the SBP lazy system to trade "boring" (boring as Simon states) money making trades. This obviously excludes Simon cause we all know he uses it succesfully.;-) I used it once but I did not get the signals right way back when. Since I have watched, learned and am almost certain I understand it so will be following Simon into a long if market green at 16h30. Anyone else use the system?
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60 REPLIES 60
Not applicable
YUP. but remember if moving below 15 day ema next week then long trigger cancelled, as simple as that. theres no 'hoping' for recovery if things dont go your way just opt out when the system says so. and enter next long signal.OMO
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saash
Super Contributor
I've incorporated Simons system into my own system, and that has made my own system work much better than it used to :-)
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Ninja
Super Contributor
CPS, I don't use Simon's system simply because it is not my own. I am sure it works wonders for him but I would break the rules, pull my hair out and make a royal hash of things as it isn't my style. There are many profitable systems to trade, IMO if it isn't one you have sweated blood over to create and one that you are totally happy with you will struggle to follow it and when things get tough you will second guess it, break the rules and fail. I am also long this market however am trading SSF's and my system confirmed long yesterday at 4.30pm. Good luck with the trade, just make sure you are happy with the system before you use it, even if it is a tried and tested one.
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TOPIX
Regular Contributor
I've been using it since last year on both the Top40 and DJ Index with good success. It's easy to understand and easy to follow. All it requires is discipline and blind trust. If you can master that you can profit from it.
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Not applicable
nx Guys. I have my own system, but I have never traded TOPI or other indexes. I usually trade single stocks and warrants. Was just wanting to try this sytem with a small amount and see if it can be used as an alternative "no think" system.
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HateGauteng
Super Contributor
My way of doing things failed. I think I'll give trading the Alsi a try. I'm not totally familiar with Simon's system but I need to learn sometime. Tight stops I suppose.
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SimonPB
Valued Contributor
if things fail, reduce risk, not incxrease risk which is essentially what the alsi is .. further changing product or underlying will make zero difference because they are not the reason you failed .. you're the reason why you failed ..
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HateGauteng
Super Contributor
Ya. I know that but I never learn. Hope I can get out of my shorts at break even. Then will join your long.
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kwagga
Super Contributor
Simon - You must love your job. The only place where you can kick any of your clients in the nuts, and they'll be back for more. LOL!!
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HateGauteng
Super Contributor
Been kicked harder in the nuts by Mr Market.
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Not applicable
Simon, just wanna check your system and my thinking. Last long trade was opened (first signal close above 15EMA 10 July) confirm (open and close above 15EMA) 13 July and close 17 August? Is this right?
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SimonPB
Valued Contributor
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HateGauteng
Super Contributor
Just realised that I don't know the exit point? What would be the exit point? Is it going to be a short long? If so can we call it the SCHLONG strategy?
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saash
Super Contributor
Oh grief - where's the nanny!
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Not applicable
I'm giving it a try for the first time if we're green at 16h30. It's also the first time that I'm trading a warrant, so I'd be grateful for confirmation that TOPSKA is okay? It has more than 3 months to expiry, it's in the money, and it has gearing between 2 and 6, as per the guidelines for beginners. Also, have I calculated breakeven correctly at 22.75 i.e. 1850000+(85x5000)?
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HateGauteng
Super Contributor
This is why I just trade SSFs. Anyway goodluck. I just exited my short and waiting as well.
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NJ_1
Frequent Contributor
Depends what you mean by break even. If you have a 20% trailing stop-loss, then your break even will be when price = 23.125, i.e. a 20% drop from there will put you back at your buy in price of 18.50
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NJ_1
Frequent Contributor
Ignore that, I thought you were buying in at 18.50
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Not applicable
So is my calc right if I'm buying at 85c?
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