Posted by DigiNomad on 12th of Mar 2024 at 02:34 pm
Once I identify a target based on the KISS system buy alerts
(daily timeframe), I switch down to a lower time frame in order to
identify an entry point. Like you, the stops are usually too wide
for my trading style at the trigger point in the KISS systems. If I
want something badly, I'll switch to a 10 minute and wait for a
touch of the 20. If I'm on the fence, I might use a 2 hour chart
and wait for a touch of the 20.
good points and practice, I always state that I'm looking at
smaller time frames as well for better entries
that said
it's important not to paint all the stops being too wide from
the initial entry. yes some are quite wide, but others are not
at all, it depends on what triggered it going long.
I find that the washout longs have very good entries and logical
stops, but those trades are rare
The other entries that are really good are the ABC 3 wave
pullback entries - that's what enabled the system to go long just a
couple days off the lows on many things back in late October or
early November, with stops at the low.
the trades that occur over a confirmed ATR break, those tend to
be much further from the stop
so again, it depends on the stock and what trade condition
triggered
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Once I identify a target
I'm struggling to find the right entry point for KISS ...
Posted by DigiNomad on 12th of Mar 2024 at 02:34 pm
Once I identify a target based on the KISS system buy alerts (daily timeframe), I switch down to a lower time frame in order to identify an entry point. Like you, the stops are usually too wide for my trading style at the trigger point in the KISS systems. If I want something badly, I'll switch to a 10 minute and wait for a touch of the 20. If I'm on the fence, I might use a 2 hour chart and wait for a touch of the 20.
good points and practice, I
Posted by matt on 12th of Mar 2024 at 02:38 pm
good points and practice, I always state that I'm looking at smaller time frames as well for better entries
that said it's important not to paint all the stops being too wide from the initial entry. yes some are quite wide, but others are not at all, it depends on what triggered it going long.
I find that the washout longs have very good entries and logical stops, but those trades are rare
The other entries that are really good are the ABC 3 wave pullback entries - that's what enabled the system to go long just a couple days off the lows on many things back in late October or early November, with stops at the low.
the trades that occur over a confirmed ATR break, those tend to be much further from the stop
so again, it depends on the stock and what trade condition triggered