Posted by fluffycone on 27th of Jun 2024 at 09:26 am
I believe BPT means well and wants to provide a great
service to help the commoners like myself to reach their minimum
retirement goals and not have to retire in poverty. It may not seem
like much for some, but the membership fee is a stretch for me. I
truly want to believe in the KISS system, but I do not trust the
KISS system yet to put real money behind it. I have tried to work
the KISS system with my paper trading account at Investopedia
(https://www.investopedia.com/simulator/) and have not been
successful yet. I believe that I am missing something in my
understanding or execution.
The big winners like NVDA get highlighted all the time and
seeing something like that happen gets me excited, but at the time
when NVDA went long way back when did anyone know it was going to
become a big winner. The current profit on COIN is (-14.17%)
with an entry price of 250.00, the current STS at 209.20 and close
of 214.58. With my luck, I tend to choose the COIN type longs
rather than the NVDA type longs. I believe others could make money
by doing the opposite of what I do. It seems that my brain just
does not work right to make money. My brain only knows how to work
hard. If hard work could make a person rich, I (and many others)
would be a very wealthy man by now.
I would ask questions, but I don't know what questions to ask,
how to ask, or afraid to ask.
Posted by elementsix on 27th of Jun 2024 at 11:59 am
@fluffycone I think you might be better off
starting with the
SPY Systems rather than the KISS.
The challenge with the KISS is it's run on hundreds of stocks
and is a single entry system with rather wide stops. Because of
this, KISS will inherently have more losing trades because there
are more trades in total. But risk is well defined with the set STS
and KISS is designed to mitigate losses.
The bigger issue, as you noted, is you also need to cherrypick
the KISS trades which further reduces the
individual likelihood of profit, especially
over small timeframes. I'd be willing to bet if you took ALL of the
KISS trades (as a giant fund could), you'd be nicely profitable,
over a longer timespan. But that's not feasible.
The SPY Systems trades are far less frequent (especially in this
market...) but have been extensively backtested. The trades have a
ton of logic built into the signals. And importantly, they allow
for 2nd and even 3rd entries, which are leveraged to recoup losses
of earlier entries. Matt & Steve tell you when to enter AND
exit, which can be really hard to get right on your own. They do
have losing trades but in my experience they are extremely net
profitable. In 2022 my SPY System profits paid for well over 20
years of BPT. I've already paid for this year with the small number
of trades we've had... AND I missed two of the most profitable ones
due to vacation.
You do have to follow the SPY System entry protocol (take ALL
entries of a given trade) and trade size is therefore very
important. In my experience, the ideal situation is starting with
the right trade amount that will allow you to take up to 3
potential entries on the trade. Let's say you have 15k to trade
with (not invest...). You might allocate $2k to a first entry
knowing you might need to put in another $2k (or even $4k) for that
one trade. Then, if another trades triggers, you'd still have $9 in
your wallet to work with.
I believe BPT means well
I believe yesterday's KISS entry on Amazon at 187,44 was ...
Posted by fluffycone on 27th of Jun 2024 at 09:26 am
I believe BPT means well and wants to provide a great service to help the commoners like myself to reach their minimum retirement goals and not have to retire in poverty. It may not seem like much for some, but the membership fee is a stretch for me. I truly want to believe in the KISS system, but I do not trust the KISS system yet to put real money behind it. I have tried to work the KISS system with my paper trading account at Investopedia (https://www.investopedia.com/simulator/) and have not been successful yet. I believe that I am missing something in my understanding or execution.
The big winners like NVDA get highlighted all the time and seeing something like that happen gets me excited, but at the time when NVDA went long way back when did anyone know it was going to become a big winner. The current profit on COIN is (-14.17%) with an entry price of 250.00, the current STS at 209.20 and close of 214.58. With my luck, I tend to choose the COIN type longs rather than the NVDA type longs. I believe others could make money by doing the opposite of what I do. It seems that my brain just does not work right to make money. My brain only knows how to work hard. If hard work could make a person rich, I (and many others) would be a very wealthy man by now.
I would ask questions, but I don't know what questions to ask, how to ask, or afraid to ask.
investopedia.com
Simulator - Investopedia Stock Simulator
@fluffycone I think you might
Posted by elementsix on 27th of Jun 2024 at 11:59 am
@fluffycone I think you might be better off starting with the SPY Systems rather than the KISS.
The challenge with the KISS is it's run on hundreds of stocks and is a single entry system with rather wide stops. Because of this, KISS will inherently have more losing trades because there are more trades in total. But risk is well defined with the set STS and KISS is designed to mitigate losses.
The bigger issue, as you noted, is you also need to cherrypick the KISS trades which further reduces the individual likelihood of profit, especially over small timeframes. I'd be willing to bet if you took ALL of the KISS trades (as a giant fund could), you'd be nicely profitable, over a longer timespan. But that's not feasible.
The SPY Systems trades are far less frequent (especially in this market...) but have been extensively backtested. The trades have a ton of logic built into the signals. And importantly, they allow for 2nd and even 3rd entries, which are leveraged to recoup losses of earlier entries. Matt & Steve tell you when to enter AND exit, which can be really hard to get right on your own. They do have losing trades but in my experience they are extremely net profitable. In 2022 my SPY System profits paid for well over 20 years of BPT. I've already paid for this year with the small number of trades we've had... AND I missed two of the most profitable ones due to vacation.
You do have to follow the SPY System entry protocol (take ALL entries of a given trade) and trade size is therefore very important. In my experience, the ideal situation is starting with the right trade amount that will allow you to take up to 3 potential entries on the trade. Let's say you have 15k to trade with (not invest...). You might allocate $2k to a first entry knowing you might need to put in another $2k (or even $4k) for that one trade. Then, if another trades triggers, you'd still have $9 in your wallet to work with.
Thank you so much for
Posted by fluffycone on 27th of Jun 2024 at 01:00 pm
Thank you so much for this insight.
"If you can't make money
Posted by brophy on 27th of Jun 2024 at 01:02 pm
"If you can't make money out of the leading active issues, you are not going to make money out of the stock market as a whole." Jesse Livermore