DigiNomad - yes and no regarding Steve's comments. Yes for
folks actively following the newsletters and blog posts, and index
supply and demand zones - it is good to try and incorporate that
into decision making.
that said - there are 100's and 100's of folks here who are only
here to follow the systems, they don't look at the community, they
rarely view a newsletter, they are here to take the system trades -
and you know what, what's fine too, if that's their style, that's
just fine. Not everyone is willing to get into all the market
analysis details and try and make decisions based on those -they
want to follow system trades knowing some will be losers as that's
just part of the game.
Here's the facts: 80% of emails these days are about the
systems. They are not about supply and demand zones, some chart or
analysis in the newsletters, they are about the systems. I don't
think it's good to call someone out who bought SMH from the system
that day when the KISS system went long into a supply zone -
that guy could have been a person who is here to follow
systems, and not get into all the technical analysis etc, and
that's fine.
Also - my rant the other day, you have to be careful about
second guessing systems - I went through more than a year where I
did not of the mean reversion systems trades, and a lot of the KISS
systems - why? because I could always find a reason not to take the
trade - and you know what, sometimes I was right, but mostly I
would have done far better just taking the trades. It creates
a psychological issue where once you start second guessing system
trades, you do that with every trade and soon you do none of
them.
I think a better approach most of the time is set aside the
capital you wish to trade the systems with, maybe have it in an
entirely different brokerage account where all you do is the system
trades. And in your other account you do the discretionary trades.
I also mentioned the casino betting strategy approach for
systems where you do all the system trades so that you don't fall
into the trap of not doing any (as discussed above) but you raise
and lower the bet size. Mean reversion systems win most of the time
so it may not make sense there, but for KISS systems with maybe 60%
winning trades, you have quite a few losing trades, so if you get a
couple losing trades in a row - a big winner is likely do so
increase the bet size. And after a the KISS system catches a
big trending move, maybe lower the bet size.
Posted by skwan1940 on 11th of Aug 2024 at 09:38 am
I'm one of those here who are interested primarily in the system
trades. I rarely post. I do have my own charts that I
look at, I understand technical analysis, but I have realized over
the years that I am my own worst enemy and by following trading
systems (especially the trend), my results are much better.
While I do appreciate the community here and I end up reading
most posts at the end of the day, I don't want to be staring at a
screen for multiple hours every day. I would rather set up my
fishing rod, wait for the fish to bite, do something else, and come
back.
Posted by DigiNomad on 10th of Aug 2024 at 10:43 pm
"I don't think it's good to call someone out who bought SMH from
the system that day when the KISS system went long into a supply
zone - that guy could have been a person who is here to
follow systems, and not get into all the technical analysis etc,
and that's fine. "
Umm, you know that wasn't me that called that person out on
buying SMH into a supply zone, right? It was actually a BPT
employee (or co-owner...however you guys are structured over
there).
As far as the other comments: Search "digi" and "system on
the systems" and you'll find many many posts from me on that topic
over the years. Probably from my older user names also (the only
one I can remember for sure is "surfah"...I think I might have been
"JT" for a while and before that I cannot confirm or deny but I may
have been piggybacking with a shared password thing and didn't post
back then
). Anyway, there is no shortage of"system on or
for the systems" content posted by me over the years.
I first found out about you guys from a Hard Rock Cafe
bartender friend in Hawaii way back in the day. We used to go out
after work, party it up, chase women, often stumble into some blow
and then find ourselves trading the New York open. True story
. I taught him all I knew about options and now he
works on the trading desk at TD Ameritrade...recently became
a Schwab employee. Anyway, we would watch these videos late late at
night and he shared his password with me because I was in business
school scraping by on a GI bill and couldn't afford it. That was
probably 2006 or 2007.
Posted by macksurf on 11th of Aug 2024 at 04:52 pm
Classic story. I lived in Maui for many years and lived a very
similar lifelstyle. Bartend at night, stay up for the Market open
and maybe do a trade, then go surf the early dawn patrol session,
come home sleep the rest of the day and do it all over again
😆🤙
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DigiNomad - yes and no
KISS systems - looks like a lot of the indexes went back long, SPY, QQQ etc
Posted by matt on 9th of Aug 2024 at 11:21 pm
DigiNomad - yes and no regarding Steve's comments. Yes for folks actively following the newsletters and blog posts, and index supply and demand zones - it is good to try and incorporate that into decision making.
that said - there are 100's and 100's of folks here who are only here to follow the systems, they don't look at the community, they rarely view a newsletter, they are here to take the system trades - and you know what, what's fine too, if that's their style, that's just fine. Not everyone is willing to get into all the market analysis details and try and make decisions based on those -they want to follow system trades knowing some will be losers as that's just part of the game.
Here's the facts: 80% of emails these days are about the systems. They are not about supply and demand zones, some chart or analysis in the newsletters, they are about the systems. I don't think it's good to call someone out who bought SMH from the system that day when the KISS system went long into a supply zone - that guy could have been a person who is here to follow systems, and not get into all the technical analysis etc, and that's fine.
Also - my rant the other day, you have to be careful about second guessing systems - I went through more than a year where I did not of the mean reversion systems trades, and a lot of the KISS systems - why? because I could always find a reason not to take the trade - and you know what, sometimes I was right, but mostly I would have done far better just taking the trades. It creates a psychological issue where once you start second guessing system trades, you do that with every trade and soon you do none of them.
I think a better approach most of the time is set aside the capital you wish to trade the systems with, maybe have it in an entirely different brokerage account where all you do is the system trades. And in your other account you do the discretionary trades. I also mentioned the casino betting strategy approach for systems where you do all the system trades so that you don't fall into the trap of not doing any (as discussed above) but you raise and lower the bet size. Mean reversion systems win most of the time so it may not make sense there, but for KISS systems with maybe 60% winning trades, you have quite a few losing trades, so if you get a couple losing trades in a row - a big winner is likely do so increase the bet size. And after a the KISS system catches a big trending move, maybe lower the bet size.
I'm one of those here
Posted by skwan1940 on 11th of Aug 2024 at 09:38 am
I'm one of those here who are interested primarily in the system trades. I rarely post. I do have my own charts that I look at, I understand technical analysis, but I have realized over the years that I am my own worst enemy and by following trading systems (especially the trend), my results are much better. While I do appreciate the community here and I end up reading most posts at the end of the day, I don't want to be staring at a screen for multiple hours every day. I would rather set up my fishing rod, wait for the fish to bite, do something else, and come back.
"I don't think it's good
Posted by DigiNomad on 10th of Aug 2024 at 10:43 pm
"I don't think it's good to call someone out who bought SMH from the system that day when the KISS system went long into a supply zone - that guy could have been a person who is here to follow systems, and not get into all the technical analysis etc, and that's fine. "
Umm, you know that wasn't me that called that person out on buying SMH into a supply zone, right? It was actually a BPT employee (or co-owner...however you guys are structured over there).
As far as the other comments: Search "digi" and "system on the systems" and you'll find many many posts from me on that topic over the years. Probably from my older user names also (the only one I can remember for sure is "surfah"...I think I might have been "JT" for a while and before that I cannot confirm or deny but I may have been piggybacking with a shared password thing and didn't post back then ). Anyway, there is no shortage of"system on or for the systems" content posted by me over the years.
I first found out about you guys from a Hard Rock Cafe bartender friend in Hawaii way back in the day. We used to go out after work, party it up, chase women, often stumble into some blow and then find ourselves trading the New York open. True story . I taught him all I knew about options and now he works on the trading desk at TD Ameritrade...recently became a Schwab employee. Anyway, we would watch these videos late late at night and he shared his password with me because I was in business school scraping by on a GI bill and couldn't afford it. That was probably 2006 or 2007.
Classic story. I lived in
Posted by macksurf on 11th of Aug 2024 at 04:52 pm
Classic story. I lived in Maui for many years and lived a very similar lifelstyle. Bartend at night, stay up for the Market open and maybe do a trade, then go surf the early dawn patrol session, come home sleep the rest of the day and do it all over again 😆🤙