Peaks and Valleys (Trading Naked) | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Peaks and troughs in an array 4 replies

Peaks and Troffs 90 replies

S&P 500 / ES Futures - Fine tune troughs and peaks 2 replies

Bow's trading journal 2 (almost naked trading on m5) 26 replies

Intraday peaks and troughs 0 replies

Attachments: Peaks and Valleys (Trading Naked)
Exit Attachments

Peaks and Valleys (Trading Naked)

  • #61
  • Jan 2, 2008 7:51pm Jan 2, 2008 7:51pm
Quoting dude007
I made 167 pips in total today on a 10 mins move on GBP/JPY and Eur/JPY at 2.20pm GMT. Thanks Kharvell for this simple strategy.
Hey dude,

Nice job! Keep up the good work

Kevin



I just got one trade today while I was at work and am up 190 pips in EUR/JPY.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_17.png Size: 26 KB
Attached Image
  • #62
  • Jan 2, 2008 10:19pm Jan 2, 2008 10:19pm
Hey Kevin,

Nice thread! I'm in Plano.
  • #63
  • Jan 2, 2008 10:40pm Jan 2, 2008 10:40pm
Quoting kharvell
Hey dude,

Nice job! Keep up the good work

Kevin



I just got one trade today while I was at work and am up 190 pips in EUR/JPY.
Kevin, so by your rules, do you enter the trade once a candle breaks support/resistance by 3 pips even though the candle has not closed?
  • #64
  • Edited 4:33am Jan 3, 2008 3:31am | Edited 4:33am
Quoting hnic828
Kevin, so by your rules, do you enter the trade once a candle breaks support/resistance by 3 pips even though the candle has not closed?
He uses stop orders so if the price is reached, the order activates... Allways use stop order with this strategy (and whats great with stop orders it that you just set them and they activate or not )

If you use a trade manager EA combined with this system, i firmly beleive one should be profitable with this strategy (only loosing in ranging market but much less than other strategies )

Edit : still demoing with peaks and valley, i kinda fucked up the entries but the idea is here (the latest entry in sell is yesterday lowest valley ) BTW Kharvell, as you have more training than me, what is your advice when peak or valley are close to each other ?
Attached Image
  • #65
  • Jan 3, 2008 4:23am Jan 3, 2008 4:23am
Quoting hnic828
Hey Kevin,

Nice thread! I'm in Plano.
Hello hnic,

I'm actually from Plano also. Seems to be a few more Dallas traders around here than I thought Anyway, I see melpheos answered your question so you should be all set. For the record, the 3 pip cushion isn't the most important thing in the world. I usually just use anywhere from 3-9 pips depending on the pair, but if you're in that window, it's all good.

Best of luck,

Kevin

Quote
He uses stop orders so it the price is reached, the order activates... Allways use stop order with this strategy (and whats great with stop orders it that you just set them and the activate or not )

If you uses an trade manager EA combined with this system, i firmly beleive one should be profitable with this strategy (only loosing in ranging market but much less than other strategies )

Edit : still demoing with peaks and valley, i kinda fucked up the entries but the idea is here (the latest entry in sell is yesterday lowest valley ) BTW Kharvell, as you have more training than me, what is your advice when peak or valley are close to each other ?

Hey melpheos,

Personally, I just use the most recent peak/valley. No particular reason for this other than I am most interested in the present.

"There's no time like the present."

If there's a resistance/support area, you could play it safe and place your orders outside and it may save your from a bad trade or two, but then your entry may be worse. You could probably go either way on this one

Kevin
  • #66
  • Jan 3, 2008 4:28am Jan 3, 2008 4:28am
Easy pips, no indicators.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_18.png Size: 26 KB
Click to Enlarge Name: Screenshot_19.png Size: 19 KB
  • #67
  • Jan 3, 2008 6:31am Jan 3, 2008 6:31am
I'm very confident on the fact that you should allways use a TP...

Here are the previous trades. The first one went to +60 and the second one to +30. Setting a TP of 30 on both of them would have been rewarding (i did not did so as it is just a demo account and i'm just playing with this stategy right now )
Attached Image
  • #68
  • Jan 3, 2008 7:12am Jan 3, 2008 7:12am
Hey Melpheos,
I would like to offer my opinion as to why I disagree with the TP. When you limit your profit potential you are forcing yourself into a position where you have to be right much more. Everyone seems to get to caught up in these 30 pip moves. I personally don't even think twice about 30 pips...that is nothing but noise.....this style is designed to be a trend following method, not scalping. We all must learn to just put the trade on ...use the prior peak or valley ( on 1hr or greater charts) and simply leave it alone. the trades will work themselves out if we don't fiddle around with them. We must accept this method for what it is, a 45-55% accurate trend following method. It will get you in trades with low risk/ high reward opportunities if we simply let it work it will produce profits like these in the picture shown.

I find that the more I try pick an arbitrary point and say "this is where the market is going" the more that the market tries to proves me wrong.


Just my 2cents worth
Attached Image
Plan, Prepare, Execute, Repeat
  • #69
  • Jan 3, 2008 7:34am Jan 3, 2008 7:34am
Quoting swingtrade65
Hey Melpheos,
I would like to offer my opinion as to why I disagree with the TP. When you limit your profit potential you are forcing yourself into a position where you have to be right much more. Everyone seems to get to caught up in these 30 pip moves. I personally don't even think twice about 30 pips...that is nothing but noise.....this style is designed to be a trend following method, not scalping. We all must learn to just put the trade on ...use the prior peak or valley ( on 1hr or greater charts) and simply leave it alone. the trades will work themselves out if we don't fiddle around with them. We must accept this method for what it is, a 45-55% accurate trend following method. It will get you in trades with low risk/ high reward opportunities if we simply let it work it will produce profits like these in the picture shown.

I find that the more I try pick an arbitrary point and say "this is where the market is going" the more that the market tries to proves me wrong.


Just my 2cents worth
Please read my previous posts. There is one good reason to put a TP but only when you use at least .2 lots.

You place a TP of 30 on one and set to BE when the first TP is reached.

With this strategy, you are allmost garanteed part of the profit and no loss and you still keep the unlimited potential on your 2nd order.
  • #70
  • Jan 3, 2008 7:57am Jan 3, 2008 7:57am
I agree with the TP if you are trading multiple lots and are going to let one go in a trend following mode.....that makes perfect sense.....I just notice that a lot of folks are taking their profits when there is so much more to be had.......this is a great trend following method and if you take one and let the other go, then I agree that is a valid strategy


Many Pips to One and All
Plan, Prepare, Execute, Repeat
  • #71
  • Jan 3, 2008 9:49am Jan 3, 2008 9:49am
Quoting kharvell
Hello hnic,

I'm actually from Plano also. Seems to be a few more Dallas traders around here than I thought
We should do coffee 1 day.
  • #72
  • Jan 3, 2008 12:20pm Jan 3, 2008 12:20pm
I agree that TP should be used with this strategy but in certain circumstances e.g. when trading multiple lots, when you have open positions while you goto sleep or away at work. On Tuesday I missed 130 pips on GBP/JPY because I didnt set a TP and just left it running and it came back and hit the SL while I was alseep. Anyway I am trading live and its been awsome so far.
  • #73
  • Jan 3, 2008 2:00pm Jan 3, 2008 2:00pm
Sweet! Thanks for sharing your method Kharvell. I will give this a go for sure.
Liberate me ex inferis
  • #74
  • Jan 4, 2008 9:00am Jan 4, 2008 9:00am
Quoting kharvell
Easy pips, no indicators.
Hi kharvell,

Apologies if you have already answered this somewhere (i haven't found it after reading the thread to date) - in this cable example, would you set an order on the break of candle 1 or 2?

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: GU3HR 4th Jan 08.GIF Size: 168 KB
  • #75
  • Jan 4, 2008 9:15am Jan 4, 2008 9:15am
Quoting ChowClown
Hi kharvell,

Apologies if you have already answered this somewhere (i haven't found it after reading the thread to date) - in this cable example, would you set an order on the break of candle 1 or 2?

Thanks in advance.
My order was triggered at 1.9830 and now stopped out. I also got stopped on G/Y and I am hanging on to E/U by a thread at the moment. Oh well.....Big news days are tough as we all know.

Chris
  • #76
  • Edited 11:31am Jan 4, 2008 11:00am | Edited 11:31am
Nice thread Kevin...
Trading doesn't have to be hard... the more naked, the more fun..
Leverage and overtrading kills most traders (I was guilty of that myself). Discipline, psyche and market adjusting system is what imho is the survival key in this business..

Lets take a live example below. I know someone who trades that way, so numbers are very close...
Say mr x had a $1000 test account and found your very nice thread on FF, and decided put it to a test (made a system out of your ideas).
He's new to trading and doesn't know much about MM, so he decided to trade 1 mini/per trade and keeps on adding 10k if market goes in his direction. He picks yen and buys it (sells pound) when it breaks 226.60. He then sells another 10k at 223.45, another at 221.45 again at 216.50 ... and 215.18...
Then he realizes, G... it's Friday, I better close my all positions before the weekend, and he does that around 214...
Then he runs a report from Dec 27 to Jan 5 and realizes he made over 3300pips combined in just little more than a week.... that's a nice % increase on his small live test account.

Enjoy the weekend everyone...
Attached Image
  • #77
  • Jan 4, 2008 11:10am Jan 4, 2008 11:10am
Hey Raczekfx,
who is this mystery man with the system that you are talking about??

You don't really expect us to believe that this mystery man would really sell the break at every level like that and just keep adding until it gave him a reason to get out.
Plan, Prepare, Execute, Repeat
  • #78
  • Jan 4, 2008 11:19am Jan 4, 2008 11:19am
Quoting swingtrade65
Hey Raczekfx,
who is this mystery man with the system that you are talking about??

You don't really expect us to believe that this mystery man would really sell the break at every level like that and just keep adding until it gave him a reason to get out.
Sorry man..., I can't tell you since I don't have his permission....
... but I can assure you, he reads this forum from time to time and maybe one day he'll drop in.... I understand that adding to a trade is not very common idea. Most traders are scalping or have targets(that would include me sometimes) of 50, 100, 200ps, but imho it's rather a straggle then real trading...
  • #79
  • Jan 4, 2008 1:17pm Jan 4, 2008 1:17pm
Quoting raczekfx
Sorry man..., I can't tell you since I don't have his permission....
... but I can assure you, he reads this forum from time to time and maybe one day he'll drop in.... I understand that adding to a trade is not very common idea. Most traders are scalping or have targets(that would include me sometimes) of 50, 100, 200ps, but imho it's rather a straggle then real trading...

Hey raczek,

is that the standard avg price line chart in MT4? Thanks
  • #80
  • Jan 4, 2008 3:20pm Jan 4, 2008 3:20pm
Maybe I'm not following too well, but how do you tell when there is a reversal of that loooong down trend?


Quoting raczekfx
Nice thread Kevin...
Trading doesn't have to be hard... the more naked, the more fun..
Leverage and overtrading kills most traders (I was guilty of that myself). Discipline, psyche and market adjusting system is what imho is the survival key in this business..

Lets take a live example below. I know someone who trades that way, so numbers are very close...
Say mr x had a $1000 test account and found your very nice thread on FF, and decided put it to a test (made a system out of your ideas).
He's new to trading and doesn't know much about MM, so he decided to trade 1 mini/per trade and keeps on adding 10k if market goes in his direction. He picks yen and buys it (sells pound) when it breaks 226.60. He then sells another 10k at 223.45, another at 221.45 again at 216.50 ... and 215.18...
Then he realizes, G... it's Friday, I better close my all positions before the weekend, and he does that around 214...
Then he runs a report from Dec 27 to Jan 5 and realizes he made over 3300pips combined in just little more than a week.... that's a nice % increase on his small live test account.

Enjoy the weekend everyone...
0 traders viewing now