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Peaks and Valleys (Trading Naked)

  • #241
  • Jan 23, 2008 2:59pm Jan 23, 2008 2:59pm
Quoting kharvell
Got out of most of my yen trades due to whipsawing, currently up around 200 pips in short USD/CHF and GBP/CHF.

Here's a snapshot of my trade station.. Let me know if this is good for me to do this or if I'm just wasting my time. At the top are all my orders listed from closest distance to furthest, and GBP/CHF is on the bottom showing where I entered.

Best of luck
Hello Kevin! First of all, it's not a waste of time! Second, of course some questions... I see the sell order was put after the first valley from 17 Jan. But, also a second valley formed in 17 Jan. Why, didn't you modify the sell order according to the new valley? How many pips bellow, did you considered when you placed these orders? Thanks!
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #242
  • Jan 23, 2008 4:23pm Jan 23, 2008 4:23pm
kharvell, don't say that you wasted your time. Believe me you did a lot with this thread. Of course I speak from my point of view others may disagree.
  • #243
  • Jan 24, 2008 1:59am Jan 24, 2008 1:59am
Kevin,
Major lurker here.
I'm finding your whole thread very informative and whilst I understand it might take up some of your time, if you have that time I'd like you to continue.

Cheers
Colin.
Enter Signature
  • #244
  • Jan 24, 2008 2:01pm Jan 24, 2008 2:01pm
Hi Kevin,
Also a daily reader of your thread! May I join the others above and emphasise that you are not wasting your time here...finding the thread very informative and giving me some pointers and ideas for future trading.....keep posting!
  • #245
  • Jan 25, 2008 12:15am Jan 25, 2008 12:15am
yesh pls continue posting i really enjoy reading this thread
  • #246
  • Jan 25, 2008 3:02am Jan 25, 2008 3:02am
Quoting kharvell
Let me know if this is good for me to do this or if I'm just wasting my time
Thank you very much for your posting. You are not wasting your time.
I have been reading your thread from day one i sure don't feel like i have been wasting my time.

Arctic4x
  • #247
  • Jan 25, 2008 3:54pm Jan 25, 2008 3:54pm
gchf
Attached Image
  • #248
  • Jan 25, 2008 3:57pm Jan 25, 2008 3:57pm
... and micro view..
Attached Image
  • #249
  • Jan 25, 2008 6:59pm Jan 25, 2008 6:59pm
I have been thinking on this way of trading for a some time . Its nice to see
someone doing it . Less screen time more time for life . No indicators (only way to go) !! No
trend lines ? No reading price action !! Very easy !! Thanks to all for your input ....SwingTrade65 has been trading this way for years ,must be working
for them . After years of my face in a computer 8 to 12 hours a day trading this is will be a great . Blessings To All
  • #250
  • Jan 26, 2008 5:11pm Jan 26, 2008 5:11pm
Quoting kharvell
Let me know if this is good for me to do this or if I'm just wasting my time.
Kharvell, if you don't mind sharing & posting it's clearly NOT a waste of time. I just found your thread in the last day or 2 and love it. You seem to be sharing a system that is both Simple and Profitable. What a concept!

I'll check back later after more review and testing but your work and the comments by others are very encouraging. Thank you...
  • #251
  • Jan 26, 2008 7:15pm Jan 26, 2008 7:15pm
interesting long term system.
  • #252
  • Jan 28, 2008 8:19am Jan 28, 2008 8:19am
Hey dudes and dudettes,

Thanks for all the nice words. "waste of time" was a poor choice of words on my part, and I honestly don't feel that way.

This week I will be testing a trend catching filter I thought up that would allow me to pick and choose only the best 6 pairs everyday to trade based on what they did the previous day. In this way, I would stick to only trendy pairs and probably win more. I may discuss details on this if it turns out well.

Here are my orders, I went Long GBP/USD last night, and my stop was almost hit, but I'm still here. Join me long, but don't blame me if we lose.

Best of luck,

Kevin
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  • #253
  • Jan 28, 2008 6:59pm Jan 28, 2008 6:59pm
Today was a boring day in forex. Everyone is uncertain on where dollar is heading even though weaker housing market reports today suggest weaker dollars.

As of now, I am still long GBP/USD at around break even, and also long EUR/USD at around break even.

I don't have any orders quite set up yet, but pairs I may potentially enter given good conditions will be NZD/USD and AUD/USD. Everything else looks a little shaky to me.
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  • #254
  • Jan 28, 2008 9:02pm Jan 28, 2008 9:02pm
Hello kharvell,

Your trading system looks interesting, but I'm so new to forex that I don't know how to even set up the charts. Suggestions where to learn the basics, who's trade station to use, any help will be appreciated.

Thanks Markster
  • #255
  • Jan 28, 2008 10:26pm Jan 28, 2008 10:26pm
Quoting kharvell
Today was a boring day in forex. Everyone is uncertain on where dollar is heading even though weaker housing market reports today suggest weaker dollars.

As of now, I am still long GBP/USD at around break even, and also long EUR/USD at around break even.

I don't have any orders quite set up yet, but pairs I may potentially enter given good conditions will be NZD/USD and AUD/USD. Everything else looks a little shaky to me.

Kevin,

I am very pleased to have found this thread. Have been searching for and trying to put together,for a long time, a method that is a fit for me. Your method looks very promising since it incorporates most of what I need and allows for the use of some skills I have developed over the years.

I especially like the idea that the market will come to me in this method. That, plus the fact I can only be in front of charts during the Asian session for the most part, requires a longer range view. I too use Oanda for its 'units' feature.

We need to get Oanda to incorporate moving stops.

I was going to ask you if you would do some 'trading with the trader' exercises, posting a trade and then following it up with commentary as it developed so those who wanted could follow along. And lo ' my wish is granted.

Your commentary on this page was appreciated when you said words to the effect that not much was happening, because I had looked at PA and thought the same. Glad to know I wasnt missing anything !

Sincerely,

Lou
  • #256
  • Jan 28, 2008 10:34pm Jan 28, 2008 10:34pm
Quoting Markster
Hello kharvell,

Your trading system looks interesting, but I'm so new to forex that I don't know how to even set up the charts. Suggestions where to learn the basics, who's trade station to use, any help will be appreciated.

Thanks Markster

Wow Markster,

YOu have come to the right forum = Forex Factory. And may well, have landed in the right thread as far as trading style. But that remains to be a discovery for you to make. Look at the other threads, topics on the forum to find out what you need to know as a beginner about finding a broker and setting up a dealing desk. Folks are friendly here and very knowledgeable and can point you in expedient directions better than I. But what ever you do, add this thread by Kevin to your subscriptions so you can easily check in.

Lou
  • #257
  • Jan 28, 2008 11:59pm Jan 28, 2008 11:59pm
Quoting Markster
Hello kharvell,

Your trading system looks interesting, but I'm so new to forex that I don't know how to even set up the charts. Suggestions where to learn the basics, who's trade station to use, any help will be appreciated.

Thanks Markster
Hey Markster,

Welcome to the forum. Lou's right when he tells you this is the place to learn tons of ways to trade forex. There are countless possibilities and you will need to decide what works best for you. First, I'd pick up your basics at babypips.com, so at least you will understand some trader language and important concepts. Then, if you are interested by then check out all the threads on here and see if you can understand any of them. There are a lot. You will need practice. It's easy and not easy at the same time. You can try the method I'm using here which is pretty newbie friendly. As far as brokers, the only one I've had is Oanda, so I'm biased. There are plenty of discussions on this in the Brokers forum. The search box is your friend.

Best of luck,

Kevin

Quote
Kevin,

I am very pleased to have found this thread. Have been searching for and trying to put together,for a long time, a method that is a fit for me. Your method looks very promising since it incorporates most of what I need and allows for the use of some skills I have developed over the years.

I especially like the idea that the market will come to me in this method. That, plus the fact I can only be in front of charts during the Asian session for the most part, requires a longer range view. I too use Oanda for its 'units' feature.

We need to get Oanda to incorporate moving stops.

I was going to ask you if you would do some 'trading with the trader' exercises, posting a trade and then following it up with commentary as it developed so those who wanted could follow along. And lo ' my wish is granted.

Your commentary on this page was appreciated when you said words to the effect that not much was happening, because I had looked at PA and thought the same. Glad to know I wasnt missing anything !

Sincerely,

Lou

Hey Lou,

Thanks for the compliments and stopping by! Glad to be of some help. I will try and be a little more active around here to see if we can develop a little more of a live trading atmosphere. I wouldn't mind seeing a little news discussion along with potential opportunities and looks. As for now, I am still tweaking little things, but the main concepts are always there, and depending on the nature of my success, I will fill you guys in as I go.

Oanda could definitely use trailing stops. I've never had this luxury, but with the longer timeframes it's not too big of an issue. When I trade shorter term, I sometimes find myself wanting them as well

Many pips,

Kevin
  • #258
  • Jan 29, 2008 1:22am Jan 29, 2008 1:22am
Hello everyone!

And enormous thanks for showing your system!

I`m newbie in fx, and looking for interesting strategies, and trying to work with them. But this sound one of the interesting ones...

Just few questions that worries me.

1) I do understand the systems concept (I think so) just I can`t get the time to go in, because when I look at the graphs in the past, its clear when to go in (in line charts on 4H). But when I look at the tails of the candles (on the same time at candle chart on 1H) I see that there would be a stop from S/L (50 pips).

2) What is the average win/lose?

3) On what time and pairs does it work for more?

Very appreciative for response and good luck dudes!!!
  • #259
  • Jan 29, 2008 8:17am Jan 29, 2008 8:17am
Quoting idejs
Hello everyone!

And enormous thanks for showing your system!

I`m newbie in fx, and looking for interesting strategies, and trying to work with them. But this sound one of the interesting ones...

Just few questions that worries me.

1) I do understand the systems concept (I think so) just I can`t get the time to go in, because when I look at the graphs in the past, its clear when to go in (in line charts on 4H). But when I look at the tails of the candles (on the same time at candle chart on 1H) I see that there would be a stop from S/L (50 pips).

2) What is the average win/lose?

3) On what time and pairs does it work for more?

Very appreciative for response and good luck dudes!!!
Hello idejs,

Thanks for stopping by, and I wish you luck as a new trader. Unfortunately, I neither have the time nor patience to teach you everything, so you're going to have to learn the basics yourself my friend. In my previous post for Markster, I suggest babypips. The information about this method is scattered throughout this thread so it will take a little work to discover how we trade it. I have no averages for you, and as a newbie it would be wise of you to start with longer term time frames, but I've seen people do it differently. Once you have learned the basics and you find you may still have a question, feel free to ask me, but as I said, I usually don't hold peoples' hands on their path to make them money. Basically that would be working for nothing.

Best of luck to you,

Kevin
  • #260
  • Jan 29, 2008 4:21pm Jan 29, 2008 4:21pm
Thanks Kevin for the reply!!!

I`m sorry for my confusing style of language. I went through the whole thread, and tried to understand.
My main question is, am I doing something wrong or is it true, that there have to be very huge range of S/L. That mostly could be even bigger than possible T/P?


Best wishes to everyone and lot of pips!
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