I personnaly have a strategy implying a minimum of 2 lots (or 2 .1 lots ) with a TP of 30 on the first lot. Once reached, you set to BE the 2nd lot and you let the other lot run with either a TS or following the peaks or following any other TS trategy.
- #41
- Dec 31, 2007 1:07am Dec 31, 2007 1:07am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
- #42
- Dec 31, 2007 7:34am Dec 31, 2007 7:34am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
- #47
- Dec 31, 2007 11:50am Dec 31, 2007 11:50am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
Hey longhornxtreme,
From Austin are you? I'm from the Dallas area myself. I do have an intel based mac and such but A) I wasn't aware that you could get parallels for only $70!!! I thought windows would be much more expensive no? and B) At this point in my trading, it's no big deal. I've learned to adapt to simplicity and honestly it's preferred.
Thanks for mentioning this though. Certainly good to know in the future the next time I'm at the Apple store.
Regards,
Kevin
Hey drayco,
Thanks for the nice words, man! Price should always be the leading indicator IMO, but I also realize that people see things differently. Many think there is only one way to trade: theirs, but the truth of the matter is that different methods will suit people differently.
Best of luck,
Kevin
Hey melpheos,
First of all, your backtesting results look impressive! Thanks for sharing the #'s with us. I have begun using the 3-hour chart as well in order to accommodate my recently busier schedule, and it works similarly to the 1-hour. Not sure what you mean here by P&V not being good on lowest timeframe. Do you mean 5-second, or 1 minute or 1 hour or anywhere in between?
M15 should still be ok for a human but M5 requires an EA or a lot of screening time which is not really what we want
- #50
- Dec 31, 2007 2:16pm Dec 31, 2007 2:16pm
- | Commercial User | Joined May 2007 | 7,685 Posts
Kevin -
Just curious....how did that "Pip Farming" experiment turn out? Weren't you up something like a billion pips in cable at one point?
None-the-less......thank you for pointing the obvious out. I do not mean that as an insult or slight at all. The obvious is what us traders tend to overlook. As soon as I threw away indicators, I began to make money. Amazing isn't it?
I once traded using a 34 EMA envelope. It lied. A lot. But it always looks so pretty when you pull it up. Look how wonderfully the price just bounces off of it? Raghee Horner is going to make me rich....or so I thought.
Turns out, those moving averages are mainly there to make me feel better. They don't actually do anything. Nothing at all. I supose you make an argument for things like a 200 SMA on the daily.....just because there are former equities traders in the game, but it doesn't matter.
The only thing that truly matters is if price is going up, or down. Sometimes it even goes sideways. When it goes sideways, we take notice. (As I love breakout trading.)
However, this "radical" idea of peaks and valleys, is probably 1 of only about 3 things you need in Forex to make money.
The other being support and resistance, and money management.
It's really that simple.
Thank you for pointing that out for so many others. Not nearly enough traders keep it simple.
Clockwork
Just curious....how did that "Pip Farming" experiment turn out? Weren't you up something like a billion pips in cable at one point?
None-the-less......thank you for pointing the obvious out. I do not mean that as an insult or slight at all. The obvious is what us traders tend to overlook. As soon as I threw away indicators, I began to make money. Amazing isn't it?
I once traded using a 34 EMA envelope. It lied. A lot. But it always looks so pretty when you pull it up. Look how wonderfully the price just bounces off of it? Raghee Horner is going to make me rich....or so I thought.
Turns out, those moving averages are mainly there to make me feel better. They don't actually do anything. Nothing at all. I supose you make an argument for things like a 200 SMA on the daily.....just because there are former equities traders in the game, but it doesn't matter.
The only thing that truly matters is if price is going up, or down. Sometimes it even goes sideways. When it goes sideways, we take notice. (As I love breakout trading.)
However, this "radical" idea of peaks and valleys, is probably 1 of only about 3 things you need in Forex to make money.
The other being support and resistance, and money management.
It's really that simple.
Thank you for pointing that out for so many others. Not nearly enough traders keep it simple.
Clockwork
- #51
- Dec 31, 2007 2:59pm Dec 31, 2007 2:59pm
- Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Thanks, Hourra ... and a Happy new year
Hi, Kharvell
Just for the fun.. I appreciate vey much your very good thread.
I live in Paris (France) and when I was a child (a long time ago) I always dreamed to be a cow-boy (Pecos Bill if I remember) and ride a horse through Texas country side.. perhaps this year ???
Why not !
Keep going and as a sailor (yes, eventually I became a sea wanderer) I wish you "Good Wind"
BBF
Blackfeet,
Thanks for the nice words and stopping by. I went to Paris last summer for my first time out of the US, and it is a beautiful city if only my French were any good
. I've ridden my share of horses, but now I'm civilized"Good Wind" to you as well sailor, happy new year, and many pips to you!
Kevin
I feel this strategy is great by placing stop order like you advised so the shorter the TF, the faster you will have to put your stop orders and deleting the previous ones.
M15 should still be ok for a human but M5 requires an EA or a lot of screening time which is not really what we want
This is definitely good to know in the future if I ever want to get into those TF's.
Thanks,
Kevin
kevin,
Happy New Year ! I am a true fan of yours. Thanks for posting I really appreciate your ideas and your ability to share your thoughts with us at FF. I never knew you were from Texas also. Take care!
Bluemonkey
Bluemonkey,
Cheers! Have a great New Year, and thanks for the kind words. Good to see another Texan
Kevin
Hey Kevin, I went to UT, but I'm at law school in Ft Worth now.
Parallels itself is $70ish, but you're right, the real expense is the windows disc. However, if you can find a copy of win2000, it does not have all the activation junk that XP or Vista has. Even if I had to pay a couple of hundred bucks, I think it's very much worth it.
Hey longhornxtreme,
That's what I figured.. I'll probably give in one of these days and get it
Thanks,
Kevin
Wow. Radical concept. ;-)
Kevin -
Just curious....how did that "Pip Farming" experiment turn out? Weren't you up something like a billion pips in cable at one point?
None-the-less......thank you for pointing the obvious out. I do not mean that as an insult or slight at all. The obvious is what us traders tend to overlook. As soon as I threw away indicators, I began to make money. Amazing isn't it?
I once traded using a 34 EMA envelope. It lied. A lot. But it always looks so pretty when you pull it up. Look how wonderfully the price just bounces off of it? Raghee Horner is going to make me rich....or so I thought.
Turns out, those moving averages are mainly there to make me feel better. They don't actually do anything. Nothing at all. I supose you make an argument for things like a 200 SMA on the daily.....just because there are former equities traders in the game, but it doesn't matter.
The only thing that truly matters is if price is going up, or down. Sometimes it even goes sideways. When it goes sideways, we take notice. (As I love breakout trading.)
However, this "radical" idea of peaks and valleys, is probably 1 of only about 3 things you need in Forex to make money.
The other being support and resistance, and money management.
It's really that simple.
Thank you for pointing that out for so many others. Not nearly enough traders keep it simple.
Clockwork
Hey clockwork,
Pip farming turned out pretty nicely, although I never really tried it again. At one point I was up a little over 2000 pips, but I only walked out with 1500. I think it was a good idea, but at some point you need to move your stops and protect your profits.
No offense taken. I'm not a genius, pretty good at math, but not a genius. The good thing is you don't have to be to trade. You just have to realize your circumstances and trade accordingly. It took me a while to realize simple is better, but I got there eventually. At some point, most traders will realize, your indicators just make more noise, and the only possibilities in forex are as you say: up, down, and sideways. It's the extent in each direction that throws people off. Being thrown off is ok, it's just a matter of getting back on in the right direction.
Nice post and Happy new year,
Kevin
kevin,
hey.....this valley and peak......isn't it basically what's being called the simple breakout ?
will it work better if it's based on fractals or no difference at all ?
maybe it's safer if we incorporate the 1-2-3 reversal ? well....what do i know ?
i like this a lot......for all we know, we were just over-complicating things for ourselves with all the indicators and everything.........heck, i'm not even smart enough to use indicators ! they may my eyes see stars and my brain swim !
many thanks and very happy and prosperous new year........
hey.....this valley and peak......isn't it basically what's being called the simple breakout ?
will it work better if it's based on fractals or no difference at all ?
maybe it's safer if we incorporate the 1-2-3 reversal ? well....what do i know ?
i like this a lot......for all we know, we were just over-complicating things for ourselves with all the indicators and everything.........heck, i'm not even smart enough to use indicators ! they may my eyes see stars and my brain swim !
many thanks and very happy and prosperous new year........
- #54
- Jan 1, 2008 11:04am Jan 1, 2008 11:04am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
hi melpheos
where did you get this indicator from?
thanks
guess
- #55
- Jan 1, 2008 11:37am Jan 1, 2008 11:37am
- Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
kevin,
hey.....this valley and peak......isn't it basically what's being called the simple breakout ?
will it work better if it's based on fractals or no difference at all ?
maybe it's safer if we incorporate the 1-2-3 reversal ? well....what do i know ?
i like this a lot......for all we know, we were just over-complicating things for ourselves with all the indicators and everything.........heck, i'm not even smart enough to use indicators ! they may my eyes see stars and my brain swim !
many thanks and very happy and prosperous new year........
Good questions here, thanks for stopping by! Right you are about peaks and valleys and simple break outs being essentially the same thing.
I hesitate in adding patterns such as 1-2-3, and double tops and bottoms and such. IMO, the more you try to standardize forex, the more you will lose. All you really should be looking for is higher high's and low's for uptrend and lower high's and low's for downtrend. If neither of these conditions are met, you've got a sideways market. The way I have laid out the blueprint, you essentially are entering whenever higher high's or low's or lower high's and lows are being created. Thus, the breakout as you might call it.
Fractals are unfortunately not part of my expertise, and might be a better question for one of the other members here. I'm not necessarily aware of the differences between fractals and the support/resistance we are seeking.
Hope this helps,
Kevin
- #57
- Jan 1, 2008 6:06pm Jan 1, 2008 6:06pm
- Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Hi Kharvell.
Thank you for sharing your method.
I like "simple" things in trading but i have to admit that most of my trading so far have been more complicated and for the most part by the help of indicators.
I hope to get away from that some day...
Here is another similar system that can maybe be of some help:
http://www.forexfactory.com/showthread.php?t=39972
Arctic4x
Thanks for posting! It looks like jest found out simple is good a long time ago and we all failed to notice! Thank you for bringing up this resource. I believe it works toward the common goal here: to keep it simple, and you are quite right about the similarities!
Best of luck in your simplification endeavors
Kevin
