An idea came upon me recently that in theory seems like a great idea: Pip Farming.
My goal is to create an artificial trade that has no Stop Loss. In order to do this, it will require that I trade pretty long-term; after all we are farming here.
Essentially, I will never move my stop and just enter with the REALLY BIG trend. Over time, I believe that the pips will be raked in. Also, along the way I will create multiple entries on dips and create a little pyramid scheme. When the trade moves against me for a while, it won't matter since it's all profit.
The downside is there are a lot of losses and you carry a lot of unrealized gains. It's psychologically confusing, but I believe it will be worth it.
Anyway, this is intended to track my harvesting season, and as to the method of entries, there isn't really any, but maybe I'll explain as I go.
So far, I have lost 392 pips
Current trades equate to 406 pips. They are shown below. Although I am about breakeven, I have planted the seeds for my Pip garden, and by not moving my stop, I am not prone to whipsaws as I ride the big wave. This is how it works in theory. We'll see how it goes.
My goal is to create an artificial trade that has no Stop Loss. In order to do this, it will require that I trade pretty long-term; after all we are farming here.
Essentially, I will never move my stop and just enter with the REALLY BIG trend. Over time, I believe that the pips will be raked in. Also, along the way I will create multiple entries on dips and create a little pyramid scheme. When the trade moves against me for a while, it won't matter since it's all profit.
The downside is there are a lot of losses and you carry a lot of unrealized gains. It's psychologically confusing, but I believe it will be worth it.
Anyway, this is intended to track my harvesting season, and as to the method of entries, there isn't really any, but maybe I'll explain as I go.
So far, I have lost 392 pips
Current trades equate to 406 pips. They are shown below. Although I am about breakeven, I have planted the seeds for my Pip garden, and by not moving my stop, I am not prone to whipsaws as I ride the big wave. This is how it works in theory. We'll see how it goes.
Attached Image