[kharvell]

Peaks and Valleys (Trading Naked) is nothing new… just a way for you to place your trades in the right direction. Try and follow along and if you have questions, ask me.

“The aspects of things that are most important to us are hidden because of their simplicity and familiarity.”

--Prof. Ludwig Wittgenstein

Think about this statement for a bit, before you even read what I’m about to write. Forget about forex and just think how many times you overlook the simplest of things in your life. The wheel for instance, where would you be right now had there never been a wheel?

You get the idea. Same goes with forex. You look at a chart and it is so familiar to you, are you really looking at it? Are you getting the most important aspects of the chart? If nothing else, what I’m about to write about will help you really notice your chart in its simplest form: naked.

[boiseboy]

Kevin:

I've always enjoyed your posts and journals. This looks interesting; I'll give a thorough re-read later today. You've probably seen this Pring article, but I'll post it here again, so people reading this thread can access it easily.

Keep up the good work!

Ed

[acumen]

You seem to test systems quite often.

Just curious but do have a staple system you trade?

[Cmartin371]

Good Stuff Kevin.

What are you doing with pending orders that are not triggered? Thanks

Chris

[kharvell]

Originally Posted by boiseboy

Kevin:

I've always enjoyed your posts and journals. This looks interesting; I'll give a thorough re-read later today. You've probably seen this Pring article, but I'll post it here again, so people reading this thread can access it easily.

Keep up the good work!

Ed

Hey Ed,

Good to hear from you! Appreciate the positive contribution; had never seen that article before, but am well acquainted with the concepts. Always good to get another person's perspective so please give me some feedback later when you get a free moment.

Thanks,

Kevin

Do you trade one system in particular?
You seem to test systems quite often.

Just curious but do have a staple system you trade?

Hello acumen,

My systems fit my lifestyle. When I'm busy, I trade longer-term. When I can monitor my forex a lot, then I will trade shorter-term. It is true, I have released many trading methodologies knowing that every trader is different. Some are better than others, but a lot of it is relative to trader characteristics. Personally, I prefer simple systems, so that's what I create.

My staple system? Truthfully, it doesn't matter to me. I can use them all at once or none at all. It's more about knowing your pair and trading it well IMO.

Best of luck,

Kevin

[kharvell]

Originally Posted by Cmartin371

Good Stuff Kevin.

What are you doing with pending orders that are not triggered? Thanks

Chris

Hey Chris,

Thanks for stopping by. As higher/lower peaks and valleys appear, I usually just adjust the old orders to the new price locations. Does this make sense?

Basically, New peak/valley = cancel old orders and make new ones.

Let me know if this still doesn't make sense because I'm not sure if it's clear enough.

Thanks,

Kevin

[kharvell]

The trade in the PDF is still going. A new valley has formed so I have cancelled old orders and moved stop up to just below the new valley area. I made a new order to be triggered short if my S/L is hit.

[Cmartin371]

Originally Posted by kharvell

Hey Chris,

Thanks for stopping by. As higher/lower peaks and valleys appear, I usually just adjust the old orders to the new price locations. Does this make sense?

Basically, New peak/valley = cancel old orders and make new ones.

Let me know if this still doesn't make sense because I'm not sure if it's clear enough.

Thanks,

Kevin

Thanks Kevin....that explanation was crystal!

[Cmartin371]

This is as simple as it gets. I like to work from Dailys and 4hr charts because I work full time. I will throw on some line charts when I get home and give it a whirl on those time frames! Thanks kevin!

[JodyOng]

Great and simple system once again Kharvell.

[acumen]

Thanks Kevin for the reply.

[melpheos]

I like what i see Kharvell...

Very easy to spot on the eye. I'll have a look for my longer TF trades.

[Cmartin371]

Originally Posted by kharvell

The trade in the PDF is still going. A new valley has formed so I have cancelled old orders and moved stop up to just below the new valley area. I made a new order to be triggered short if my S/L is hit.

Kevin,

Did you set a buy order at the new peak to go along with your sell order on the new valley? Thanks

Chris

[kharvell]

Originally Posted by Cmartin371

Kevin,

Did you set a buy order at the new peak to go along with your sell order on the new valley? Thanks

Chris

Hey Chris,

You got it. It's not necessary to do it all the time, but if you want more trades then you got them to take. I personally did set a buy order at the peak you mention. My chart is below, good job

Regards,

Kevin

I like what i see Kharvell...

Very easy to spot on the eye. I'll have a look for my longer TF trades.

Hey melpheos,

Good to see you man! Let me know if you see anything interesting as I'll be very interested in your input.

Thanks,

Kevin

[Cmartin371]

Hey Kevin,

Sorry for all the questions. Are you placing your orders above/below the actual peak and valley for avg price? Or using the days high or low? For stop losses as well? Thanks for your time!

Chris