Bear Trader Pro, a professional version of Bear Trader will soon be available. The Bear Trader will also continue to be available for subscription.
A professional version was needed since Bear Trader’s text messaged instructions for @market orders are sent before 9:30AM and from 3:00PM to 4:00PM EST. The narrow windows for @market orders and a reduction in alerts were implemented on March 3, 2020 to make Bear Trader more user friendly than its parent, the Bull & Bear Tracker. However, the tradeoff was a reduction in gains.
Tuesday June 30, 2020; was a perfect example. There was a concern that the scheduled June 30, 2020; 10:00AM consumer confidence announcement could potentially have a negative impact on the markets. Since a text message to sell @market could not be sent after the 10:00AM release, a 9:20AM text message to sell 50% of the open stake at the market open was sent. This resulted in the gains for conservative and aggressive traders as of the June 30th market close, when compared to the prices the shares were sold at on the open, being reduced by 0.73% and 2.3% respectively.
Even with the changes Bear Trader has outperformed the S&P 500 since March 3, 2020. For the month of June 2020, the gains for conservative traders was 1.9% and 5.7% for aggressive traders. This compared to a gain of 1.8% for the S&P 500. From March 3, 2020 to June 30, 2020; the Bear Trader’s cumulative gains were 50.4% for aggressive and 16.6% for conservative traders. The gain for the S&P 500 for the same period was 3.2%.
All of the reasons for the changes including the two below are available in this article:
- A substantial increase in intraday market volatility which arrived with the new secular bear market on February 20, 2020, more than doubled the quantity of alerts.
- Subscriber surveys indicated that a majority of subscribers were not following the instructions for the @market alerts which were sent intraday or from 9:31AM to 3:00PM EST.
Bear Trader Pro subscribers will have the following benefits:
- Intraday text messages with @market instructions when applicable
- Dedicated phone number to enable a subscriber to program their phones to set off an alarm or a ring tone upon a text message being sent
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