• Home
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • User/Email: Password:
  • 8:44pm
Menu
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • 8:44pm
Sister Sites
  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Low Risk, High Reward Trading Experiment 3,318 replies

My experiment with the New York Breakout Strategy 19 replies

kharvell's Trades 433 replies

kharvell's EASY-to-follow thoughts 5 replies

My experiment hurts my opinion of tunnel/swing methods 28 replies

  • Trading Journals
  • /
  • Reply to Thread
  • Subscribe
  • 37
Attachments: kharvell's new experiment =|
Exit Attachments
Tags: kharvell's new experiment =|
Cancel

kharvell's new experiment =|

  • Last Post
  •  
  • Page 1 23 4
  • Page 1 23 4
  •  
  • Post #1
  • Quote
  • First Post: Edited Nov 10, 2009 9:57am Nov 2, 2009 8:46pm | Edited Nov 10, 2009 9:57am
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Hi everyone, not sure who will end up reading this, if anyone, but I have more time on my hands now to do some short-term trading, as I have mostly been a long-term trader. I want to test an approach for my own personal benefit, but perhaps your input could help me out as well.

I am not reinventing the wheel here. Today was my first day of trying my strategy, and it turned out well. Just want a place to document my progress. This means I am not trying to teach anyone how to trade!

My Rules:

 

  1. EUR/USD only
  2. Only trade from 00:30-14:00 CST
  3. 5-minute chart
  4. $100 account (See post #32)
  5. 5 EMA's (8,12,24,48,120)
  6. BE PATIENT, wait for a trend and wait for the right time to enter it (near MA's).
  7. Check 1-hour chart for flat markets. If price is consolidating in a 100 pip or less range, then wait for movement to resume trading.
  8. take profit 100 pips, 10 pip trailing stop
  9. risk max units rounded down to nearest 1,000. For instance, my max units is 1400, so order 1000 because it is rounded down to nearest 1000.
  10. Don't trade 1 minute after I wake up (have focused mind)

Probably each day going to post results, good, bad and ugly. I expect to lose a lot but just a little each time, and win pretty big. Only concrete result I have to back this up are a nice 60 pip trade and 20ish pip trade I had today. Blah blah, let's just show the trades I took today and the results they produced.

Good luck to me, and anyone else trading forex

  • Post #2
  • Quote
  • Nov 2, 2009 8:49pm Nov 2, 2009 8:49pm
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Trailing stop hit for +21 here (Blue up arrow means I buy here, orange or red circle means I stop)
Attached Image (click to enlarge)
Click to Enlarge

Name: Screenshot_243.png
Size: 48 KB
 
 
  • Post #3
  • Quote
  • Nov 2, 2009 8:51pm Nov 2, 2009 8:51pm
  •  iForex
  • | Joined Jul 2009 | Status: Member | 265 Posts
Hi, Nice to see your project, good starting =half success!
Can you use myfxbook to show us your trading?
Dancing with Candlesticks
 
 
  • Post #4
  • Quote
  • Nov 2, 2009 8:54pm Nov 2, 2009 8:54pm
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
2 bad trades, one netted me +1 pip, second lost me 5 pips. Last good trade nets +59. The difference is the slope of the lines and their orientation.
Attached Image (click to enlarge)
Click to Enlarge

Name: Screenshot_244.png
Size: 41 KB
 
 
  • Post #5
  • Quote
  • Nov 2, 2009 8:58pm Nov 2, 2009 8:58pm
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
3 losses for about -16 pips. Market is too weak and unvolatile to be trading now. I know this yet I still trade. Somebody chastise me.
Attached Image (click to enlarge)
Click to Enlarge

Name: Screenshot_245.png
Size: 42 KB
 
 
  • Post #6
  • Quote
  • Nov 2, 2009 9:01pm Nov 2, 2009 9:01pm
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Results for today, on my $98.30 account.
Attached Image (click to enlarge)
Click to Enlarge

Name: Screenshot_246.png
Size: 22 KB
 
 
  • Post #7
  • Quote
  • Nov 3, 2009 9:04am Nov 3, 2009 9:04am
  •  endroute
  • Joined Oct 2007 | Status: Member | 528 Posts
I trade very similar to you but use the 5min charts and different mas. I have found I like this so much more than trading on the higher time frames. Best of luck with this approach
 
 
  • Post #8
  • Quote
  • Nov 3, 2009 9:30am Nov 3, 2009 9:30am
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Quoting endroute
Disliked
I trade very similar to you but use the 5min charts and different mas. I have found I like this so much more than trading on the higher time frames. Best of luck with this approach
Ignored
Hi endroute,

Thanks for the comment. Would you mind elaborating on what you do differently? Just curious.

Thanks for stopping by,

Kevin
 
 
  • Post #9
  • Quote
  • Nov 3, 2009 9:35am Nov 3, 2009 9:35am
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Price hardly retraced. Too eager. Must cross into MA's. -6 pips
Attached Image (click to enlarge)
Click to Enlarge

Name: Screenshot_247.png
Size: 48 KB
 
 
  • Post #10
  • Quote
  • Nov 3, 2009 9:48am Nov 3, 2009 9:48am
  •  endroute
  • Joined Oct 2007 | Status: Member | 528 Posts
On the attached chart the entries are to the left of the red vertical line. I use the 5/10/21/60/120 emas and the 105sma. I primarily rely on the 5/10/21 and 60 emas to trade off of, typically I will only take shorts below the 60 and longs above, though if price is bouncing off of a round number I may take it there too. I will also take trades off of the 744 ema (which is the 1 hour 62 ema).

I only trade in the direction of the trend of the moment and prefer stronger trends (i.e. when the mas are all above or below price). I especially prefer pullbacks into the 5/10 emas in strong trend, very low risk and high reward. I try to let the trades go for as long as possible, though sometimes you have to get in and get out. Most of my stops are not over 12 pips and are usually just on the other side of the ma or above or below a wick. I try to stay away from picking tops and bottoms. I would say the hardest thing about this approach is the discipline of waiting.
Attached Image (click to enlarge)
Click to Enlarge

Name: ej.jpg
Size: 129 KB
 
 
  • Post #11
  • Quote
  • Nov 3, 2009 9:57am Nov 3, 2009 9:57am
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Quoting endroute
Disliked
On the attached chart the entries are to the left of the red vertical line....
Ignored
Awesome, man. Great post - Admittedly, short-term trading isn't my most familiar area, usually more of a swing trader. We'll see how this experiment of mine goes. Would definitely appreciate any other input that comes to mind, as you seem like you know what you're doing.

Thanks and take care,

Kevin
 
 
  • Post #12
  • Quote
  • Nov 3, 2009 2:22pm Nov 3, 2009 2:22pm
  •  golferfx
  • | Joined Mar 2008 | Status: jr member | 589 Posts
Hey Kevin,

Good luck with the new thread...I will from time to time stop by. !!

You know me...daily/weekly chart trader so I will not waste your energies on the thread.

Just wanted to say good luck!!

golferfx
 
 
  • Post #13
  • Quote
  • Nov 3, 2009 6:41pm Nov 3, 2009 6:41pm
  •  winningfx
  • | Joined Mar 2009 | Status: keep it simple stupid | 423 Posts
good to see you back. will stalk your results.
 
 
  • Post #14
  • Quote
  • Nov 3, 2009 7:21pm Nov 3, 2009 7:21pm
  •  endroute
  • Joined Oct 2007 | Status: Member | 528 Posts
Quoting kharvell
Disliked
Awesome, man. Great post - Admittedly, short-term trading isn't my most familiar area, usually more of a swing trader. We'll see how this experiment of mine goes. Would definitely appreciate any other input that comes to mind, as you seem like you know what you're doing.

Thanks and take care,

Kevin
Ignored
I have seen a number of your posts and threads and you are definitely a much better swing trader than I ever could be, I tried to take and get it to work on the higher tfs and just could not so I took everything I learned (ppa, pa, sr, etc etc) on the higher timeframes and started using it on the 5/15 timeframes and just found something I am very comfortable doing.
 
 
  • Post #15
  • Quote
  • Nov 3, 2009 7:59pm Nov 3, 2009 7:59pm
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Hey guys,

Thanks for stopping by, and for the nice comments. endroute, really glad you stopped by, man; you've got me thinking. I believe I will probably add a 5-minute chart MA's agreement filter to sift out some of the bad trades in non-trending markets (my biggest flaw so far is trading when there is not push in the market).

Mistakenly took a couple more trades last night for losses. Didn't take too many trades today, only a couple of mediocre trades this morning, that resulted in losses. Have been pretty busy today, but hopefully can trade more tomorrow morning. Pic below of account action. Down to $101.62, can definitely do better.
Attached Image (click to enlarge)
Click to Enlarge

Name: Screenshot_248.png
Size: 13 KB
 
 
  • Post #16
  • Quote
  • Nov 3, 2009 10:14pm Nov 3, 2009 10:14pm
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Only trade from 00:00 CST to 14:00 CST
 
 
  • Post #17
  • Quote
  • Nov 4, 2009 2:03am Nov 4, 2009 2:03am
  •  yen44x
  • | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
Quoting kharvell
Disliked
Hi everyone, not sure who will end up reading this, if anyone, but I have more time on my hands now to do some short-term trading, as I have mostly been a long-term trader. I want to test an approach for my own personal benefit, but perhaps your input could help me out as well.
Ignored
Hi, Kevin, it's good to see you back at FF, and I wish you well. I'm still concentrating on longer-term charts, but hope all goes well for you.
Greetings from Guanajuato, Mexico
 
 
  • Post #18
  • Quote
  • Nov 4, 2009 3:48am Nov 4, 2009 3:48am
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Hi yen,

Good to see you, friend Hope you are well, too, man!


Trades from 00:00 to now have been mediocre, but revealing.

I'm noticing that on 5-minute chart, the closer the price is to MA's the better for my position (not first 3 positions compared with last winner).

1st trade- ugly -5
2nd trade- bad luck -3
3rd trade- bad luck -1
4th trade- good luck +7

Ehh, I am still learning guys and gals. Yes, after 5 years of trading, I am still learning
Attached Image(s) (click to enlarge)
Click to Enlarge

Name: Screenshot_250.png
Size: 50 KB
Click to Enlarge

Name: Screenshot_251.png
Size: 56 KB
 
 
  • Post #19
  • Quote
  • Nov 4, 2009 4:11am Nov 4, 2009 4:11am
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Why did I take this trade? Lack of discipline
Attached Image
 
 
  • Post #20
  • Quote
  • Nov 4, 2009 6:29am Nov 4, 2009 6:29am
  •  endroute
  • Joined Oct 2007 | Status: Member | 528 Posts
Kevin,

Think of the mas as a trendline and take trades right off of those at the candle close, I would stay away from bigger candles. So for your last trade the signal would have been a short because price ran up and then got beat down below the mas.
 
 
  • Trading Journals
  • /
  • kharvell's new experiment =|
  • Reply to Thread
    • Page 1 23 4
    • Page 1 23 4
0 traders viewing now
  • More
Top of Page
  • Facebook
  • Twitter
About FF
  • Mission
  • Products
  • User Guide
  • Media Kit
  • Blog
  • Contact
FF Products
  • Forums
  • Trades
  • Calendar
  • News
  • Market
  • Brokers
  • Trade Explorer
FF Website
  • Homepage
  • Search
  • Members
  • Report a Bug
Follow FF
  • Facebook
  • Twitter

FF Sister Sites:

  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Forex Factory® is a brand of Fair Economy, Inc.

Terms of Service / ©2023