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Peaks and Valleys (Trading Naked)

  • #81
  • Jan 4, 2008 5:06pm Jan 4, 2008 5:06pm
this system is a simple trend following system that cuts losses short and lets profits run. As with all trend following techniques, It will draw down during consolidation and will have more losses than wins so expect some psychologically tough times and extended losing periods.

Its strength however, lies in its built in pyramiding. By adding to winning positions, the trends that come along will wipe the floor with the losses.

Other advantages are that
- simple rules to follow
- you will always be in positions, satisfying the desire to trade
- entries are done with pending stop orders so no need to constantly watch the screen waiting for signals
- You will always be trading in the direction of the the market rather than against

Nicely done Kharvell
BTC Return This Year: na
  • #82
  • Jan 4, 2008 6:53pm Jan 4, 2008 6:53pm
Alright guys, a lot of good posts.. If I don't address yours, I still like you, you just didn't ask me a question. First point of mine is to talk about how I'm not going to use T/P's, and that's just me. I won't say that it is bad, just that I won't do it. That's all as far as that goes.

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.
Hey ChowClown,

Probably the one closest to the line peak. So in your instance, it would be 1. I have to agree with swingtrader65 though that a lot of people focus on too small amount of pips. To be honest, 30 pip difference may be big to some of you, but when we're talking about 1000's total, I'm not too concerned about those 30. So in essence, 1 or 2, it doesn't matter just get in the trend, and if you lose, keep trying.

Best of luck,

Kevin

Quote
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

Hey Chris,

I had some losers towards the end, too. Just keep at it and you will win in the end. I'm ending up with 450 pips or so though so it's making up for any losses.

Good luck,

Kevin

raczekfx,

Good news about your friend! Tell him congrats for me. Also, tell him he's lucky and to enjoy the good times while they last. Adding to positions during trends expands your gains, just use wisely.

Regards,

Kevin

Quote
this system is a simple trend following system that cuts losses short and lets profits run. As with all trend following techniques, It will draw down during consolidation and will have more losses than wins so expect some psychologically tough times and extended losing periods.

Its strength however, lies in its built in pyramiding. By adding to winning positions, the trends that come along will wipe the floor with the losses.

Other advantages are that
- simple rules to follow
- you will always be in positions, satisfying the desire to trade
- entries are done with pending stop orders so no need to constantly watch the screen waiting for signals
- You will always be trading in the direction of the the market rather than against

Nicely done Kharvell

Hey M.A.C. Doug,

You hit the nail on the head here, good post! These are the reasons this method can and does work. Anyone can do it

Good luck and thanks for stopping by,

Kevin
  • #83
  • Jan 4, 2008 7:22pm Jan 4, 2008 7:22pm
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...
Sounds like a professional trader..maybe a former bank trader..I hope to be able to trade that way with confidence soon.
  • #84
  • Jan 4, 2008 7:36pm Jan 4, 2008 7:36pm
excellent thread! great stuff! would you sonsider a fractal or similar indicator to determine peaks and valleys? just curious if it may be easier than eyeing them up in real time? thanks in advance
  • #85
  • Jan 5, 2008 7:37am Jan 5, 2008 7:37am
Quoting dagoods
excellent thread! great stuff! would you sonsider a fractal or similar indicator to determine peaks and valleys? just curious if it may be easier than eyeing them up in real time? thanks in advance
read the whole trade, that is exactly what i'm doing
  • #86
  • Jan 5, 2008 8:08am Jan 5, 2008 8:08am
  •  w_z
  • | Joined Dec 2007 | Status: hand over them pips | 61 Posts
kharvell,

very nice.

simple, effective, lucrative.
  • #87
  • Jan 5, 2008 8:46am Jan 5, 2008 8:46am
Hi Kevin

Looks simple and effective, will start trading it this week on 4H.

Thanks for the great advice.
  • #88
  • Jan 5, 2008 7:12pm Jan 5, 2008 7:12pm
Quoting kharvell
raczekfx,

Good news about your friend! Tell him congrats for me. Also, tell him he's lucky and to enjoy the good times while they last. Adding to positions during trends expands your gains, just use wisely.

Regards,

Kevin
I'll keep that in mind..
many pips Kevin.
  • #89
  • Jan 6, 2008 12:01pm Jan 6, 2008 12:01pm
hello Raczekfx,

It is possible to give you templates for your chart??

Many thanks
  • #90
  • Edited Jan 7, 2008 8:08am Jan 6, 2008 1:11pm | Edited Jan 7, 2008 8:08am
I have used a 1 bar sma H (green) & a 1 bar sma L (red) (with the candles blacked out) to show the actual highest & lowest points.


I have also edited post 010708, to show a similar display but with the candles in place.

Regards,

BabeFX.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 4hr010408.gif Size: 13 KB
Click to Enlarge Name: eurusd 1hr010708.gif Size: 23 KB
  • #91
  • Jan 6, 2008 4:27pm Jan 6, 2008 4:27pm
Quoting elfural
hello Raczekfx,

It is possible to give you templates for your chart??

Many thanks
hi elfural,

I don't have a template handy, but hope this doc will help you..

Best,
Attached File(s)
File Type: pdf for elfural.pdf   145 KB | 1,650 downloads
  • #92
  • Jan 6, 2008 4:42pm Jan 6, 2008 4:42pm
Hey Racze,
Just wondering if you have a reason for using the close & not the h,l/2.
I have played with both & also the line setting instead of bars.
The line seems to be allmost the same as hl/2 but the close setting is quite different. Do you find this allows better placing of buy/sell stops?
just like to know your reasoning, or is it just personel preference?
I haven't traded using this alone but am adding it to my pa, s/r method. I do think it adds another way of looking at charts & still being naked. (my charts are getting more naked every week) its just sooo less confusing.
Thanks
Jeff
  • #93
  • Jan 6, 2008 4:53pm Jan 6, 2008 4:53pm
hello Raczekfx,

Many many thanks
  • #94
  • Jan 6, 2008 5:35pm Jan 6, 2008 5:35pm
Quoting rustyjeff
Hey Racze,
Just wondering if you have a reason for using the close & not the h,l/2.
I have played with both & also the line setting instead of bars.
The line seems to be allmost the same as hl/2 but the close setting is quite different. Do you find this allows better placing of buy/sell stops?
just like to know your reasoning, or is it just personel preference?
I haven't traded using this alone but am adding it to my pa, s/r method. I do think it adds another way of looking at charts & still being naked. (my charts are getting more naked every week) its just sooo less confusing.
Thanks
Jeff
Hey Jeff,
I haven’t had too many trades with this method since I still like my PA with fibs, tls and confluence, so you would be better of asking Kevin for detail settings. But to be honest I don’t think it really matters if you’re a break out trader using daily and higher timeframe..
Best,

Quoting elfural
hello Raczekfx,

Many many thanks
Welcome elfural..
  • #95
  • Jan 6, 2008 5:38pm Jan 6, 2008 5:38pm
Quoting raczekfx
Hey Jeff,
I haven’t had too many trades with this method since I still like my PA with fibs, tls and confluence, so you would be better of asking Kevin for detail settings. But to be honest I don’t think it really matters if you’re a break out trader using daily and higher timeframe..
Best,



Welcome elfural..

True,
Similar to you looking at finding a way to help me sit on my hands a bit, so to stay in the trade longer & add to it.
Thanks Rac.
  • #96
  • Jan 6, 2008 11:19pm Jan 6, 2008 11:19pm
I'm thinking nzd/usd might retest .7650, then carry on down.
Attached Image (click to enlarge)
Click to Enlarge Name: nv.gif Size: 13 KB
FF journal: Peaks and Troffs
  • #97
  • Jan 6, 2008 11:21pm Jan 6, 2008 11:21pm
Quoting bogus
I'm thinking nzd/usd might retest .7650, then carry on down.
LOOKS GOOD! NICE SCOPE! i wont be fully convinced till it happens but how many times do we see that set up?! very nice
i'm going to look at that one!
  • #98
  • Jan 7, 2008 12:16am Jan 7, 2008 12:16am
a/u
Attached Image (click to enlarge)
Click to Enlarge Name: oz.gif Size: 14 KB
FF journal: Peaks and Troffs
  • #99
  • Jan 7, 2008 1:25am Jan 7, 2008 1:25am
i'm already in au! a thing of beuaty isnt it! but now you convinced me to add to my position....feel free to keep them posts coming! You can pm me anytime! lol good call!
  • #100
  • Jan 7, 2008 1:34am Jan 7, 2008 1:34am
Simple is good
Quoting dagoods
i'm already in au! a thing of beuaty isnt it! but now you convinced me to add to my position....feel free to keep them posts coming! You can pm me anytime! lol good call!
FF journal: Peaks and Troffs
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