I was talking to a subscriber Greg a couple weeks ago, and he
uses the mean reversion and KISS systems, and for the KISS systems
what he's been doing that he says has been working great for him is
- when one of the KISS systems go long, he doesn't go long that
day, he places a buy stop a few pennies or some amount above that
day's highs where it triggered - he said that has kept him out of
some bad trades where the market reversed the next day. For
example the SMH long a week ago, you would not have triggered
- SMH went long last Wed but price never went above Wednesday's
highs on Thursday morning hence now trigger.
Also in case you were not aware - the default KISS Systems on
the website do NOT go long that same day, they take the trade the
next morning on the open, assuming most will wait until the next
day vs doing them in after hrs - that's all been in the
FAQ.
anyway I can have James add this condition to the current KISS
system and test it to see if that's a good filter/addition to the
system. Greg said it's been working well for him, but since we can
test that and see stats, might as well. If it ends up being a great
addition to the KISS, I'll let you know and add it to the KISS
system for the website tables
Yes, that's been working great for me.. Just been doing it
for 3-4 months so it's still early days but I remembered Matt
talking a while back how sometimes after the KISS systems would go
long then pull back closer to the STS and that could be a better
entry.. so i've been experimenting with different approaches to
have a more methodical and less gut based system to try that out...
So far where i'm at is, as Matt said, placing a stop buy a
few cents above the previous day's high as a trigger.. if the trade
doesn't trigger then the next day I move the stop buy down to just
above the next days high and keep doing that until the buy triggers
or the stock closes below the STS.. this has saved me from a few
bad trades and also gotten me in quite a few times at better entry
prices.
Of course it does mean triggering a bit above the standard entry
but so far (anecdotally) it seems worth it though i'm very curious
to see how it holds up to more rigorous testing.
I've added another twist that i've recently started to do
is if there is a very long wick above the previous day's high.. in
those cases when the wick is pretty large I've split the trade in 2
parts.. 1/2 size entry as per mentioned above, just above the
previous day's high (above the top of the wick) and 1/2 size entry
as a stop buy a few cents above the previous day's close... So if
it takes off i get an average price between the two, if it goes
straight down nothing triggers and if it pokes up but doesn't go
above the wick i'm only in for half size and some risk is
mitigated...
Posted by pintopower on 5th of Aug 2024 at 04:19 pm
I am very bad at search. But I can search for my own
posts. So that is why I replied to make sure I could find the
original post again. Like/bookmarks would make it easier than
searching and, as you say, not create extra noise on the board.
try the search feature - you can put in a key word or multiple
key words, and if you remember the username you can add that as a
further filter. There's also a date range you can select to narrow
your search down like if you remember the post was a day ago, you
can limit the search to just that time frame
I use the search feature to find old posts of mine from 10 years
ago at times, works well
Posted by DigiNomad on 5th of Aug 2024 at 04:14 pm
Exactly, but this is something that's been said many times over
the years. Seems like it's not possible with whatever platform they
are using (I keep meaning to search the HTML for clues but haven't
gotten around to it)
A setting I'm going to try on the default KISS systems
Posted by matt on 5th of Aug 2024 at 11:41 am
I was talking to a subscriber Greg a couple weeks ago, and he uses the mean reversion and KISS systems, and for the KISS systems what he's been doing that he says has been working great for him is - when one of the KISS systems go long, he doesn't go long that day, he places a buy stop a few pennies or some amount above that day's highs where it triggered - he said that has kept him out of some bad trades where the market reversed the next day. For example the SMH long a week ago, you would not have triggered - SMH went long last Wed but price never went above Wednesday's highs on Thursday morning hence now trigger.
Also in case you were not aware - the default KISS Systems on the website do NOT go long that same day, they take the trade the next morning on the open, assuming most will wait until the next day vs doing them in after hrs - that's all been in the FAQ.
anyway I can have James add this condition to the current KISS system and test it to see if that's a good filter/addition to the system. Greg said it's been working well for him, but since we can test that and see stats, might as well. If it ends up being a great addition to the KISS, I'll let you know and add it to the KISS system for the website tables
Yes, that's been working great
Posted by greggone on 5th of Aug 2024 at 03:15 pm
Yes, that's been working great for me.. Just been doing it for 3-4 months so it's still early days but I remembered Matt talking a while back how sometimes after the KISS systems would go long then pull back closer to the STS and that could be a better entry.. so i've been experimenting with different approaches to have a more methodical and less gut based system to try that out...
So far where i'm at is, as Matt said, placing a stop buy a few cents above the previous day's high as a trigger.. if the trade doesn't trigger then the next day I move the stop buy down to just above the next days high and keep doing that until the buy triggers or the stock closes below the STS.. this has saved me from a few bad trades and also gotten me in quite a few times at better entry prices.
Of course it does mean triggering a bit above the standard entry but so far (anecdotally) it seems worth it though i'm very curious to see how it holds up to more rigorous testing.
I've added another twist that i've recently started to do is if there is a very long wick above the previous day's high.. in those cases when the wick is pretty large I've split the trade in 2 parts.. 1/2 size entry as per mentioned above, just above the previous day's high (above the top of the wick) and 1/2 size entry as a stop buy a few cents above the previous day's close... So if it takes off i get an average price between the two, if it goes straight down nothing triggers and if it pokes up but doesn't go above the wick i'm only in for half size and some risk is mitigated...
If this message board allowed
Posted by pintopower on 5th of Aug 2024 at 04:04 pm
If this message board allowed likes, I would double like that post. But since it doesn't, you'll have to settle for a
ha ha - that's something
Posted by matt on 5th of Aug 2024 at 04:05 pm
ha ha - that's something I've talked to James about before, adding Likes, and maybe an up vote / down vote option
That would be good ...
Posted by mla127 on 5th of Aug 2024 at 04:07 pm
That would be good ... could be a good way to say you liked a post/chart without creating extra noise on the message board
I am very bad at
Posted by pintopower on 5th of Aug 2024 at 04:19 pm
I am very bad at search. But I can search for my own posts. So that is why I replied to make sure I could find the original post again. Like/bookmarks would make it easier than searching and, as you say, not create extra noise on the board.
try the search feature -
Posted by matt on 5th of Aug 2024 at 04:25 pm
try the search feature - you can put in a key word or multiple key words, and if you remember the username you can add that as a further filter. There's also a date range you can select to narrow your search down like if you remember the post was a day ago, you can limit the search to just that time frame
I use the search feature to find old posts of mine from 10 years ago at times, works well
Exactly, but this is something
Posted by DigiNomad on 5th of Aug 2024 at 04:14 pm
Exactly, but this is something that's been said many times over the years. Seems like it's not possible with whatever platform they are using (I keep meaning to search the HTML for clues but haven't gotten around to it)
thanks for replying to my
Posted by matt on 5th of Aug 2024 at 03:22 pm
thanks for replying to my post Greg. Also James nearly has the conditions added already so that I can test if it makes sense long term with stats