Silver - regarding MMM, okay so the KISS system stopped out and
went up the next day, so what. That happens, just like you will
have a bad trade at times, hyper focusing on one stock or trade is
not helpful here. The KISS systems overall have done a damn good
job and are an amazing tool. Not perfect, they never will be but
they are very unique and serve a great purpose.
also - the system went back long MMM yesterday
the prevous trade on MMM from March 13th to May 29th was a great
trade - many times after a really nice winner the odds of the next
one being a whipsaw is high, doesn't always happen but it's
common.
one strategy I try to employ is a Casino betting strategy: I set
a base amount that I plan to use for the system, let's say it's
$10,000 per trade. If the system catches a big trending winner. The
next trade (since I know that there are higher odds for a whipsaw
I'll move that number down to maybe $8000 or $7000. If the
trade is a loser I loose less, if it's a winner I still took the
trade. Let's say it's a loser, then I may elect to take the next
trade back to the $10,000 base. If the that one is a loser I might
raise the next amount to $12,000 - because I know that after a
couple small losing trades in a row, the system is due to catch a
big trend move - so I vary my bet size
it's about the long term batting averag, it's not about your
last at bat - if you are a baseball player and you have a 350
batting average, you should not overly concern yoursel out the last
two strike outs, it's about the long term average
this is a numbers game, but too many of us get emotional and
focus on the last 1 or 2 trades one one stock
Posted by DigiNomad on 12th of Jul 2024 at 03:11 pm
There's a reason brokers don't provide a stop order that only
executes at the close if price is below a certain level (like MOC
but different)....and it's not because it would be a difficult
order type to add.
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Yes I hadn't looked at
KISS System Use Case 3M (MMM)The daily KISS System went ...
Posted by matt on 8th of Jul 2024 at 07:38 pm
Yes I hadn't looked at MMM on the KISS tables, looks like hte stop is pretty tight
https://breakpointtrades.com/ts/view_chart.php?s=MMM&g=DJI
Just adding a follow-up. MMM got
Posted by Silver on 9th of Jul 2024 at 04:44 pm
Just adding a follow-up.
MMM got stopped out.
Been following MMM as a
Posted by Silver on 12th of Jul 2024 at 03:01 pm
Been following MMM as a use case.
After MMM gets stopped out, it jumps.
I have many bad words to say: [&*^%$#@*@#&^*]
Silver - regarding MMM, okay
Posted by matt on 12th of Jul 2024 at 04:49 pm
Silver - regarding MMM, okay so the KISS system stopped out and went up the next day, so what. That happens, just like you will have a bad trade at times, hyper focusing on one stock or trade is not helpful here. The KISS systems overall have done a damn good job and are an amazing tool. Not perfect, they never will be but they are very unique and serve a great purpose.
also - the system went back long MMM yesterday
the prevous trade on MMM from March 13th to May 29th was a great trade - many times after a really nice winner the odds of the next one being a whipsaw is high, doesn't always happen but it's common.
one strategy I try to employ is a Casino betting strategy: I set a base amount that I plan to use for the system, let's say it's $10,000 per trade. If the system catches a big trending winner. The next trade (since I know that there are higher odds for a whipsaw I'll move that number down to maybe $8000 or $7000. If the trade is a loser I loose less, if it's a winner I still took the trade. Let's say it's a loser, then I may elect to take the next trade back to the $10,000 base. If the that one is a loser I might raise the next amount to $12,000 - because I know that after a couple small losing trades in a row, the system is due to catch a big trend move - so I vary my bet size
it's about the long term batting averag, it's not about your last at bat - if you are a baseball player and you have a 350 batting average, you should not overly concern yoursel out the last two strike outs, it's about the long term average
this is a numbers game, but too many of us get emotional and focus on the last 1 or 2 trades one one stock
There's a reason brokers don't
Posted by DigiNomad on 12th of Jul 2024 at 03:11 pm
There's a reason brokers don't provide a stop order that only executes at the close if price is below a certain level (like MOC but different)....and it's not because it would be a difficult order type to add.