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Peaks and Valleys (Trading Naked)

  • #361
  • Feb 19, 2008 11:13am Feb 19, 2008 11:13am
I'll like to thank Kevin for posting this system and everyone that made a contribution. following price is really the key to the mint and thank God i know that now (after burning down 4 live a/c). Maybe you guys should read trend following by Michael Covel. reading that book helped me a lot. i could upload the softcopy for you guys.
anyways after going through the thread, i placed my 1st trade on Gbp/Jpy and i made 70 pips (demo) and right now am long Gbp/Usd.. anybody in that trade?
  • #362
  • Edited 1:55pm Feb 19, 2008 12:17pm | Edited 1:55pm
of the book.
Thanks,
Dani_m

Quoting spotless1212
I'll like to thank Kevin for posting this system and everyone that made a contribution. following price is really the key to the mint and thank God i know that now (after burning down 4 live a/c). Maybe you guys should read trend following by Michael Covel. reading that book helped me a lot. i could upload the softcopy for you guys.
anyways after going through the thread, i placed my 1st trade on Gbp/Jpy and i made 70 pips (demo) and right now am long Gbp/Usd.. anybody in that trade?
  • #363
  • Feb 19, 2008 1:54pm Feb 19, 2008 1:54pm
[quote=dan_mir;1858048]

End of day 2 update -
Date Pair L/S Profit Closing reason
Feb 18 UC S 30P TP
Feb 19 UC S 35P Manual TP
Feb 19 GC S -20P SL
Feb 19 GJ S 42P Manual TP
Feb 19 UJ S 42P Manual TP
Feb 19 EU L 21P Manual TP
Feb 19 GU S -30 SL
Feb 19 EJ L -33 SL

I will keep posting my results.

BR
Dani_M
  • #364
  • Feb 19, 2008 2:07pm Feb 19, 2008 2:07pm
tired uploading the book but it didnt work out.
but here is a link..you will find the book there. cheers

http://forexkid.blogspot.com/search/...max-results=20
  • #365
  • Feb 19, 2008 2:28pm Feb 19, 2008 2:28pm
..
Attached Image
  • #366
  • Edited 2:45pm Feb 19, 2008 2:34pm | Edited 2:45pm
Quoting raczekfx
..

what currency pair is that?

never mind ..Aud/usd...

don't be misled by idols and mini gods (indicators)...give your life to Christ (price) so you can set yourself free..
  • #367
  • Feb 19, 2008 2:36pm Feb 19, 2008 2:36pm
am curious...who do you think will make more pips? the guy that uses the daily time frame or the other guy with the 4hr time frame
or maybe the 1hr time frame?
  • #368
  • Feb 19, 2008 3:01pm Feb 19, 2008 3:01pm
Quoting raczekfx
..
Hi raczekfx,
The AU seems to be very close to the highest price it had for long time . It may become a strong resistance that will start a price fall. If this is the case, the little valley you found is good entry point.
Just the way I see it.
BR
Dani_M
  • #369
  • Feb 19, 2008 3:02pm Feb 19, 2008 3:02pm
what would you do?
Attached Image (click to enlarge)
Click to Enlarge Name: price.JPG Size: 92 KB
  • #370
  • Feb 19, 2008 3:16pm Feb 19, 2008 3:16pm
Quoting dan_mir
Hi raczekfx,
The AU seems to be very close to the highest price it had for long time . It may become a strong resistance that will start a price fall. If this is the case, the little valley you found is good entry point.
Just the way I see it.
BR
Dani_M
I honestly do not know what will happen....
aussie is commodity based currency and gold is still rising...
we'll have to wait and see.

p.s.
if in trade, area to watch is around .9050\60
personally, I'd love to see aussie close at/or below .9140 today
.
.
Attached Image
  • #371
  • Feb 19, 2008 4:37pm Feb 19, 2008 4:37pm
[quote=dan_mir;1859341]
Quoting dan_mir

End of day 2 update -
Date Pair L/S Profit Closing reason
Feb 18 UC S 30P TP
Feb 19 UC S 35P Manual TP
Feb 19 GC S -20P SL
Feb 19 GJ S 42P Manual TP
Feb 19 UJ S 42P Manual TP
Feb 19 EU L 21P Manual TP
Feb 19 GU S -30 SL
Feb 19 EJ L -33 SL

I will keep posting my results.

BR
Dani_M
That's about up 90 pips... Not bad! Are those all the pairs you watch?
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #372
  • Feb 19, 2008 6:35pm Feb 19, 2008 6:35pm
[quote=Cornelius;1859643]
Quoting dan_mir
That's about up 90 pips... Not bad! Are those all the pairs you watch?
Hi Cornelius,
I have 14 charts open, so for me, you name it, and I will take a look......
BR
Dani_M
  • #373
  • Feb 19, 2008 6:57pm Feb 19, 2008 6:57pm
Hi... dan_mir;
Would you mind posting a chart with labels of your entries and stops. It seems you're using very tight stops. Which t/f are you using? So far so good
  • #374
  • Feb 20, 2008 1:22am Feb 20, 2008 1:22am
if you trade the gbp/jpy, maybe you should also watch gbp/chf bcos they correlate. watching the direction of price for both pairs during the london session seems to be working for me..
  • #375
  • Feb 20, 2008 1:33am Feb 20, 2008 1:33am
Just to get an idea of the way the market is going, it will prevent you trading against the trend, I know it is suppose to be naked and indicator free... at MACD 12,26,9 settings...
  • #376
  • Edited 3:55am Feb 20, 2008 3:54am | Edited 3:55am
Quoting freevey
Hi... dan_mir;
Would you mind posting a chart with labels of your entries and stops. It seems you're using very tight stops. Which t/f are you using? So far so good
Hi freevey,
You may be right, but I came from the scalping world (burned like hell) were I had to use tight SL.
I will reconsider my SL on these longer time frames. I'm not used to let it run against me that much ......
BR
Dani_M
  • #377
  • Feb 20, 2008 4:08am Feb 20, 2008 4:08am
Quoting freevey
Answer to Post #350 - (Good question Oromis - It's easy to put up a chart "after-the-fact" ) - DISCRETION: This is why I added bars to my chart, instead of "Line Chart" only.

NOTE: I agree with Kevin's original 50 S/L as a minimum. On 4H time-frame, anything tighter, other than, maybe on EUR/USD, and a couple of other slow-movers, is not enough.

1st chart shows a shallow pullback - so I use the pull-back BAR for entry and stop. Break of bar (3-5) for entry - break of other side (3-5) for stop.

2nd chart is a deeper pull-back - so I use the valley and peak. For T/P, must keep in mind the upcoming support at 207.00. From entry to that level, there is room for, may be, 100 -125 pips. I want to make sure that I hit my T/P so I'll set it at, may be 90. So I have better than 1:1 risk/reward and I'm not being greedy and trying to squeeze every pip out of it.

How I learned to use discretion?... Read my last post.
Thanks for the clarrification.
  • #378
  • Feb 20, 2008 10:48am Feb 20, 2008 10:48am
DAN_MIR... I wasn't saying tighter stops were wrong and you should "watch out". I wanted to know how you trade with tighter stops... i.e. - if you found a way to use a tighter stop (keeping losses small ) and still make decent gains. Thanks.

SOMEBODY out there is TALKIN' . Word got out... My last 4 of 6 were losses where I got triggered by (no joke) 3-5 pips on EVERY one of them, then reversed on the next bar straight the other way. It's like THEY know... I don't know who THEY are but I do know that THEY are out there.
  • #379
  • Feb 20, 2008 11:13am Feb 20, 2008 11:13am
Quoting freevey
SOMEBODY out there is TALKIN' . Word got out... My last 4 of 6 were losses where I got triggered by (no joke) 3-5 pips on EVERY one of them, then reversed on the next bar straight the other way. It's like THEY know... I don't know who THEY are but I do know that THEY are out there.
Hi,
I had a bad day has well. I will post it later, but it looks like someone developed a reverse P & V system and he is hunting us
Dani_M
  • #380
  • Feb 20, 2008 11:35am Feb 20, 2008 11:35am
Quoting dan_mir
Hi,
I had a bad day has well. I will post it later, but it looks like someone developed a reverse P & V system and he is hunting us
Dani_M
It went a lot sideways on most of the pairs. As I am writing I see an interesting move. Hope it goes well.
A good trade is when I Break Even. A great trade is when I Take Profit.
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