Dislikedp.s. next trigger might be eur/gpb short few pips below current price....Ignored
Closest order set for me is Short GBP/JPY ~ 90 pips away.
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Dislikedp.s. next trigger might be eur/gpb short few pips below current price....Ignored
DislikedSharing orders sounds like a good idea. A little more liveliness around here is always good. Let's try and include charts then shall we?
Closest order set for me is Short GBP/JPY ~ 90 pips away.Ignored
DislikedHi All,
I have been trading with peaks and Valleys for quite some time now and find it to be the most effective method of trading out there, if you will let it be. I personally keep a spreadsheet of several pairs. It has the weekly direction, the daily direction and the peaks and or valleys that will reverse each direction. I personally only trade in the direction of the main trend ( which I think is the whole point of this type of system) and this spreadsheet is just a visual aid. when both weekly and daily are heading in the same direction, I frop down to the 4hr and get entries and add on spots from there. I am including the spreadsheet for anyone that wants to take a look at it.
Many PipsIgnored
DislikedYes, sharing is good and feels good too...
the latest one in a/u...Ignored
DislikedHi All,
I have been trading with peaks and Valleys for quite some time now and find it to be the most effective method of trading out there, if you will let it be. I personally keep a spreadsheet of several pairs. It has the weekly direction, the daily direction and the peaks and or valleys that will reverse each direction. I personally only trade in the direction of the main trend ( which I think is the whole point of this type of system) and this spreadsheet is just a visual aid. when both weekly and daily are heading in the same direction, I frop down to the 4hr and get entries and add on spots from there. I am including the spreadsheet for anyone that wants to take a look at it.
Many PipsIgnored
DislikedHi raczek
Are you opening your position on break of the close or "high and low" of the bar the forms a peak or valley?
As I see your line chart is showing close of the bars therefore i should assume that you are entering on break of the close, unless I am mistaken.Ignored
DislikedI have been testing this system on vHands for a while now, and it seems to work well for the most part. The trouble I have is the arbitrary 50 pip stop loss. I get stopped out too much (especially GBP/JPY). What I have found that works better it putting the stop by the nearest peak or valley behind price. For example, if going long, put the stop below the most recent major valley.
The other problem of course is a ranging market. I am getting better at recognizing the beginning of a ranging market however and change my strategy to sell at resistence, buy at support, but sell if there is a breakout of support and buy if there is a breakout above resistance. The problem is I end up with losses usually before I notice the market is ranging..Ignored
DislikedHey Jared,
Are you trading off of the 1-hour chart or higher? The 50 pip S/L was what I felt would be good for most pairs. GBP/JPY is usually an exclusion because this pair is a beast. If you want to trade GBP/JPY you must realize that it can go 150 pips in 30 minutes sometimes.. and usually 50 pips stops are hit unless you're trading a really small timeframe. Your strategy of putting your S/L by a peak/valley will undoubtedly bring you better results on this pair.
To determine ranging markets, it is useful to determine the longer term trend then your timeframe. It will at least filter out many of the bad trades.
You will lose, Jared. Count on it. Just accept this now, and keep trying.
Best of luck,
Kevin
Best of luck,Ignored
DislikedAttached to this post is a document written by Swingtrade65 that he sent to me a while back. A lot of it agreed with my own trading plan, but also it shared some invaluable insights I hadn't thought of. This will be a great resource on money management for newbies especially. Pay special attention to his points on correlation, over-trading, and risk management. He has been trading for a quite a while longer than me, and I think we should give him some thanks for sharing his insights!
Hope it helps,
KevinIgnored
DislikedJared,
You are correct, it says that there are 3 sections. I have decided however to not publish the 2 other sections. I think it is extremely important for each trader to design their own trading system within the framework of "Peaks and Valley". Each trader has his or her own comfort level and therefore should make the system fit their individual style. If I published how I trade this system, it would most likely confuse many and create more questions than answers due to the fact that I have traded this way for more that a dozen years. My version of the system is mine and I am comfortable with it. I would encourage you to make yours a "custom Jared model"......as for the Money Management...that is very universal and one of the cornerstones of any system. It is not open for debate if you want to be doing this with your current account this time next year, it simply is how it must be. the only portion that is open within each traders system is whether or not to risk 2.5% or 2% or whatever is within reason for your situation.
Best of luck in your trading pursuits,
Swingtrade65Ignored
DislikedJared,
You are correct, it says that there are 3 sections. I have decided however to not publish the 2 other sections. I think it is extremely important for each trader to design their own trading system within the framework of "Peaks and Valley". Each trader has his or her own comfort level and therefore should make the system fit their individual style. If I published how I trade this system, it would most likely confuse many and create more questions than answers due to the fact that I have traded this way for more that a dozen years. My version of the system is mine and I am comfortable with it. I would encourage you to make yours a "custom Jared model"......as for the Money Management...that is very universal and one of the cornerstones of any system. It is not open for debate if you want to be doing this with your current account this time next year, it simply is how it must be. the only portion that is open within each traders system is whether or not to risk 2.5% or 2% or whatever is within reason for your situation.
Best of luck in your trading pursuits,
Swingtrade65Ignored
DislikedHi all
I dont know why people is not interessed in this concept but i want to ask you something.
I atach a image with some entry and some stop loss and i want to ask what we do in this situation because alsmost of the time stop loss is hit.
RegardsIgnored