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Pip Farming: An Experiment

  • #21
  • Jul 17, 2007 9:41pm Jul 17, 2007 9:41pm
It's lookin' like some good pickins

Stopped out of AUD/NZD for -61 pips.

GBP/USD is my cash cow right now, and as my 3rd lot approaches 100 pips profit, I may have to enter another lot soon.

Total UNREALIZED Profit -- 1146 pips
Total REALIZED Losses -- (506 pips)
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  • #22
  • Edited 11:41pm Jul 17, 2007 11:18pm | Edited 11:41pm
I am entering in another lot GBP/USD. Usually I enter on retracements, but I don't see this retracing any time soon. We'll see...

This experiment is turning out good now, but conditions are ideal now, and it won't always be that way.

Long GBP/USD @ 2.0545
S/L = 2.0492

EDIT:
THIS TRADE NOT REFLECTED IN PIP TOTALS BELOW.
Long GBP/JPY @ 249.94
S/L = 249.43

Total UNREALIZED Profit -- 1578 pips
Total REALIZED Losses -- (506 pips)
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  • #23
  • Jul 18, 2007 11:32am Jul 18, 2007 11:32am
Alright, my S/L on GBP/USD was hit on my latest added lot for a total of -53 pips. I went ahead and re-entered today for a few pips less than yesterday.

Long GBP/USD @ 2.0543
S/L = 2.0491

Total UNREALIZED Profit -- 1405 pips
Total REALIZED Losses -- (559 pips)
  • #24
  • Jul 18, 2007 10:34pm Jul 18, 2007 10:34pm
I am not actually going to place another lot now, but I was just posting because I think there's a decent chance for folks not Long GBP/USD to hop on IF YOU SEE A BULL OUTBREAK ON THE HOURLY. I think it may be coming..

Things are still the same... Did you know I make .25% per day in interest?

Total UNREALIZED Profit -- 1428 pips
Total REALIZED Losses -- (559 pips)

My Horoscope:

"You have stellar instincts right now, and they will carry you far."
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  • #25
  • Jul 19, 2007 2:56pm Jul 19, 2007 2:56pm
Well then, GBP/USD is being a stubborn bugger as of late, so I'm just going to let it simmer down for now. It has fooled me twice and I believe that's shame on me. -53 pips there.

AUD/JPY and EUR/AUD were looking good for adding lots so I went ahead and did so:

Long AUD/JPY @ 107.40
S/L = 106.87

Short EUR/AUD @ 1.5689
S/L = 1.5743

Total UNREALIZED Profit -- 1566 pips
Total REALIZED Losses -- (612 pips)

Best of luck.
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  • #26
  • Jul 19, 2007 10:44pm Jul 19, 2007 10:44pm
kharvell
man you are doing great, gotta tell ya your an insperation.
also I really like how your held positions are adding .25% a day ...... that is outstanding....keep up the good work.
Same Whore .... Different Dress
  • #27
  • Jul 20, 2007 4:55am Jul 20, 2007 4:55am
Quoting johnedoe
kharvell
man you are doing great, gotta tell ya your an insperation.
also I really like how your held positions are adding .25% a day ...... that is outstanding....keep up the good work.
Thanks john! Thank YOU for sticking with me through all this time(It seems like it's been a while)


Well, I feel really dumb right now, but sometimes you just gotta go with your gut. I was stopped out of 2 GBP/USD Long lots at around the price I am now entering again. Somehow, I just have a feeling it's breaking through this time

Long GBP/USD @ 2.0533
S/L = 2.0478

Probably going to enter in another lot Long GBP/JPY upon the next retracement.

Total UNREALIZED Profit -- 1979 pips
Total REALIZED Losses -- (612 pips)

When the market closes this weekend, I will add some information about account information in terms of % for the 2 weeks that the experiment has been on the go.
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  • #28
  • Jul 20, 2007 5:14am Jul 20, 2007 5:14am
Hi,

I'm interesting for your thread and trades.
5 star voted.

Good luck.
With Regards, MKTrader Not Risk Not Gain!
  • #29
  • Jul 21, 2007 12:28am Jul 21, 2007 12:28am
Quote
Hi,

I'm interesting for your thread and trades.
5 star voted.

Good luck.

Appreciate the good marks. Thanks for following along; hopefully the outcome will be mediocre or better.


Well, as the title says, not every seed makes a plant. Unfortunately, the market had a big swing against me, and several trades were stopped out. Some of my other trades(that were a little beefier) held on just fine leaving me still in profit with a bigger base farm going into next week.

Here is a summary of my losses:

Long CAD/JPY Stopped Out for -53 pips
Long GBP/JPY Stopped Out for -51 pips
Long AUD/JPY Stopped Out for -53 pips
Long EUR/JPY Stopped Out for -52 pips
Long CHF/JPY Stopped Out for -54 pips
Short EUR/AUD Stopped Out for -54 pips
Short USD/CAD Stopped Out for -53 pips

Whew, it's a lot, I know... But I believe that a little sacrifice now, will benefit me greatly later. Overall, I am still in a comfortable profit.

Total UNREALIZED Profit -- 1583 pips
Total REALIZED Losses -- (983 pips)

As of 2 weeks, my account is up 12.16%. We'll see how it goes when my FARM is developed

Best of luck.
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  • #30
  • Jul 21, 2007 12:53am Jul 21, 2007 12:53am
I'm just scared for you when the trend changes, and you accumulate huge losses. What will you do then?
  • #31
  • Jul 21, 2007 6:21pm Jul 21, 2007 6:21pm
Quoting dazed101
I'm just scared for you when the trend changes, and you accumulate huge losses. What will you do then?
Alright, I consider myself a bit of an optimist, so bear with me

I'm in these trades because I think I am going to win. In my view, your mentality goes for any trade and any trader. Sure the trend could always change and I lose, but what's different about it to me than to anyone else? Every trade every trader makes involves some sort of risk, this is inherent, and quite honestly is something I don't even think about too often.

 

  1. I know I don't want to lose more than 1% per trade.
  2. I think ultimately I will win more than 50% of trades when it is said and done.
  3. I think my risk:reward ratio will be very nice
  4. If I am riding a 1-3 year trend, the odds of it swinging against me in the long-term are simply slim, so why should I worry?
  5. My only losses are simply mistimings. I'm guessing the trend right, but I just do it when there's still some "umph" left in my opponents.
  6. Just give me a chance, and I think it will turn out good.(A View From an Optimist)

  • #32
  • Jul 21, 2007 6:49pm Jul 21, 2007 6:49pm
Quoting dazed101
I'm just scared for you when the trend changes, and you accumulate huge losses. What will you do then?
I dealt with the same mental block in the past. I had to learn, I think most do, that "just because you are in the trade, doesn't mean that a five year trend will suddenly stop." Look at the pairs that KHarvell has been trading, it would be extremely selfish (in a negative sense) to believe that just by him being in these trades it will somehow affect the entire global market. Thus that change would cause the trends to turn around and ruin his long term trading.

Look at the Dow Jones for example, it has been going up with strength and authority for years and months and months and yet there are people here in the United States (not sure if you are), that are refusing to trade it because it is "too high". Too high for whom? It could go to 20,000 before an epic crash, and once that crash happens it won't even go back to current levels! The same way as GBP/JPY could go back to 400.00 again, it has been there before. Is it unlikely? Sure. But one can't be afraid to trade just because he may have "missed out". Do I wish I was trading back when the current trends started? No doubt about it. I would have just been old enough to drive ... had other things on my mind at the time. The way I see it, the next 5 or even 10 year trend that establishes itself ... I will be right there at the beginning month or two to start setting up my positions.

In actual response to your statement, of course it is dangerous. But as KH said, there is always some element of danger in trading. These trades could all be dragged down that 1% or so, it would hurt. But even if there is a trend change he will make up his losses and then make even more than he would have ever thought. Just imagine how successful KHarvell would have been with this approach if he started trading GBP/JPY 4 years ago? That next trend change that occurs, it will be just as good.

All the best to both of your trading experiences. KHarvell, your posts are of very high quality. Have to rate the new journal.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #33
  • Jul 22, 2007 3:59am Jul 22, 2007 3:59am
Quoting kharvell
Alright, I consider myself a bit of an optimist, so bear with me

I'm in these trades because I think I am going to win. In my view, your mentality goes for any trade and any trader. Sure the trend could always change and I lose, but what's different about it to me than to anyone else? Every trade every trader makes involves some sort of risk, this is inherent, and quite honestly is something I don't even think about too often.

  1. I know I don't want to lose more than 1% per trade.
  2. I think ultimately I will win more than 50% of trades when it is said and done.
  3. I think my risk:reward ratio will be very nice
  4. If I am riding a 1-3 year trend, the odds of it swinging against me in the long-term are simply slim, so why should I worry?
  5. My only losses are simply mistimings. I'm guessing the trend right, but I just do it when there's still some "umph" left in my opponents.
  6. Just give me a chance, and I think it will turn out good.(A View From an Optimist)


Hi Kevin

Are you going to apply anti-hedge to the stopped-out positions now?
Regards
  • #34
  • Jul 22, 2007 1:13pm Jul 22, 2007 1:13pm
Quoting StockKJay

All the best to both of your trading experiences. KHarvell, your posts are of very high quality. Have to rate the new journal.
Hey StockKJay,

First of all, thank you for your great post! I'm sure it not only helps others, but it also helps me to hear a fresh opinion every so often. Thanks for your time and the nice review

Kevin

Quote
Hi Kevin

Are you going to apply anti-hedge to the stopped-out positions now?

Hmmm... This is a great question. As a matter of fact, it is one that I've been considering since I've started my experiment here. I think the bottom line is that Jacko uses it, he is successful, and therefore it then follows that I should be using it, too.

With this being said, I only saw the opportunity to add anti-hedges on 3 of my stopped out positions.

What I look for:

Where I stopped out and how far did the price go beyond my stop. I usually want the price to go AT LEAST 50 pips beyond my stop, giving the market some time to come back to where I want to enter.

Maybe the "beyond my stop" wording is a bit confusing so I will provide an example, and then list all my Limit Orders.

An example:

My Long AUD/JPY trade was stopped out at 106.87 went all the way down to around 106.00 and is now almost back to 106.87. This is good enough for an anti-hedge IN MY OPINION because it went well over 50 pips past my stop.

Key words above: "IN MY OPINION" -- It's Jacko's technique, he knows better than I do.

Ok then, below is a pic of my pending orders which are set to last about a week. (I'm too lazy to type them all out LOL)

Oh and if we haven't figured out by now, blue means long and red/orange means short.
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  • #35
  • Jul 22, 2007 9:42pm Jul 22, 2007 9:42pm
Wow... I'm dumb. You know Jacko's anti-hedging? It just really screwed me over.

I understand that it is bound to lose sometimes, so I lost around 50 pips on each of the limit orders I placed above.

The thing I don't get, is why I forgot Oanda raises their spreads over the weekend. Basically, to add insult to injury, I lost an additionaly 50 pips in spread.

Now's your turn to call me dumb.

You may think I'm AN IDIOT, BUT I've re-entered all 3 because they seemed to be lingering at previous support levels and showed some upwards movement.

Long AUD/JPY @ 106.67
S/L = 106.13

Long CAD/JPY @ 115.61
S/L = 115.07

Long GBP/JPY @ 249.21
S/L = 248.60

Total UNREALIZED Profit -- 1786 pips
Total REALIZED Losses -- (1183 pips)
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  • #36
  • Jul 23, 2007 4:32am Jul 23, 2007 4:32am
looking at your sterling trades...I'd say NEAT. Thats a good truck your carrying.

Well i did remember Jacko advising on using some sort of trails. You might wanna do it to protect? He said you can always re-enter, but being at where you currently are, putting up a trail might just hurt when the trend resumes. But this is Grade A stuff Kharvell! Have you considered partial profit taking?
  • #37
  • Jul 23, 2007 6:12am Jul 23, 2007 6:12am
Quoting jest1081
looking at your sterling trades...I'd say NEAT. Thats a good truck your carrying.

Well i did remember Jacko advising on using some sort of trails. You might wanna do it to protect? He said you can always re-enter, but being at where you currently are, putting up a trail might just hurt when the trend resumes. But this is Grade A stuff Kharvell! Have you considered partial profit taking?
Hey Jest,

Thanks for your very nice post! Jacko does indeed use trails, and for this reason, I have devised a very loose exit strategy. When the time comes, I will explain this later, but rest assured, I DO have a last resort for when I think things are going wrong.

My thoughts on partial profit taking are sort of indifferent. Really, it doesn't matter to me whether I get my pips now or later. And in theory it's cheaper to get them later because I don't have to pay spread for new positions(re-entries) unless I'm adding to an already profitable trade.

Thanks,

Kevin


I've been toying with the idea of concentrating on super trending pairs, which IN MY OPINION are pairs like GBP/USD, AUD/USD, and NZD/USD, that if you put in a position Long, there is a great possibility of winning. Instead of 100 pip intervals, I would maybe use something closer to 50 for re-entries. As of now, I'm running a little low on margin, so this would have to be a future thing, but it only makes more sense to pyramid the ones that look good profusely while taking a more cautious approach on others that look a bit more sporadic.

Three New Trades:

Long AUD/USD @ .8818
S/L = .8766

Short EUR/AUD @ 1.5641
S/L = 1.5698

Long GBP/USD @ 2.0584
S/L = 2.0530


Total UNREALIZED Profit -- 2116 pips
Total REALIZED Losses -- (1183 pips)
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  • #38
  • Edited 11:25pm Jul 23, 2007 10:59pm | Edited 11:25pm
Ok folks, I have reached a personal goal, which was to reach 1000 pips in only one pair, and I have done that here with GBP/USD. This, to me, resembled my idea of a "crop" when I started. I'm probably going to be holding on to this for a while. The nice thing is I have these nice profits as a pip cushion. I'm using these to let me trade how I want to, freely.

For instance, GBP/JPY and CAD/JPY were getting dangerously close to my stop. I know the trend is up... and I'll just eat into my profits to make sure my Longs stay, maybe just buy more at cheaper prices? The bottom line is I have flexibility.

EDIT: I HAVE EXITED CAD/JPY FOR A LOSS OF -46 PIPS JUST CUZ

Again, the markets are good, and I am lucky. I have to cherish the moments like these


Total UNREALIZED Profit -- 2422 pips
Total REALIZED Losses -- (1229 pips)
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  • #39
  • Jul 23, 2007 11:22pm Jul 23, 2007 11:22pm
Quoting kharvell
Ok folks, I have reached a personal goal, which was to reach 1000 pips in only one pair, and I have done that here with GBP/USD. This, to me, resembled my idea of a "crop" when I started. I'm probably going to be holding on to this for a while. The nice thing is I have these nice profits as a pip cushion. I'm using these to let me trade how I want to, freely.

For instance, GBP/JPY and CAD/JPY were getting dangerously close to my stop. I know the trend is up... and I'll just eat into my profits to make sure my Longs stay, maybe just buy more at cheaper prices? The bottom line is I have flexibility.

EDIT: I HAVE EXITED CAD/JPY FOR A LOSS OF -46 PIPS JUST CUZ

Again, the markets are good, and I am lucky. I have to cherish the moments like these


Total UNREALIZED Profit -- 2422 pips
Total REALIZED Losses -- (1229 pips)
You have some big ones man.....and to be honest, I have been thinking along these lines lately.....hmmmm, getting an idea or two.

However, as I am a chicken-sh*t, I am going to wait for a daily trend line to be hit in GBP/USD, or one of the others to jump on.

Great read though.
  • #40
  • Edited 12:34pm Jul 24, 2007 9:48am | Edited 12:34pm
Quoting clockwork71
You have some big ones man.....and to be honest, I have been thinking along these lines lately.....hmmmm, getting an idea or two.

However, as I am a chicken-sh*t, I am going to wait for a daily trend line to be hit in GBP/USD, or one of the others to jump on.

Great read though.
Hey clockwork71,

Thanks for stopping by and the nice compliment! I actually have just entered in another lot in GBP/USD due to a small retracement on the hourly chart, but since you are waiting for the DAILY to touch the trendline, you could be waiting for quite a while...

Regards,

Kevin

Honestly, I don't see any indication of GBP/USD going down anytime soon, but that's just me, and forex always has a way of screwing people over

Long GBP/USD @ 2.0643
S/L =2.0590

You will probably be seeing less trades from me ladies and gents because I am unfortunately out of margin to enter more trades! Basically, if you guys see any small retracements on any of the pairs I currently own, you can probably enter with me and be alright. I make no guarantees for your success, unfortunately.

Total UNREALIZED Profit -- 2548 pips
Total REALIZED Losses -- (1183 pips)
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