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Steviet's Live Trades!

  • #1,881
  • May 22, 2007 4:53pm May 22, 2007 4:53pm
Sometimes I just do not understand the way you trade Steve...

GBP/JPY stopped and you opened it again?

hmmm...

I must admit I am surprised!

Wish you luck!

iiivb

Quoting steviet
As James May from the BBC programme Top Gear might say ''Oh cock ''

Two main trades stopped out - GBPJPY short for minus 67 pips and short GBPUSD minus 21 pips.

The GU stopped out 3 pips from today's high - oops I did it again as Brittney might say lol

One complimentary trade stopped out today also - nightmare but I'm cool with it - GBPJPY short for minus 274 pips eek. s/l was 240.19 - today's high 240.22 - it takes skill to place your stop losses as accurately as me lol. This trade was placed back on May 10th & since then been waiting for the fall which hasn't materialised yet.

Current main trades are plus 185 pips with a few locked in.

Current complimentary trades are around about break even at present.

OK, two new main trades to place ....

GBPUSD short from 1.9745 (s/l 1.9780)
GBPJPY short from 240.00 (s/l 240.42)

Two new complimentary trades

GBPJPY short from 240.02 (s/l 241.92)
USDJPY short from 121.53 (s/l 122.38)

Having a major disaster these last 6 weeks but hey, I'm learning & more importantly I'm not losing money either (unless $10 in 6 months counts hehe).

GU, AU & NU have all been the choppiest I've seen for a long time and GJ has been stuck between 237 & 240 for weeks as well. The only pair I trade which has had any sort of direction is UJ which has been a little easier to trade.

Have a good one folks

Kind Regards
Steve
  • #1,882
  • May 22, 2007 5:01pm May 22, 2007 5:01pm
Quoting iiivb
Sometimes I just do not understand the way you trade Steve...

GBP/JPY stopped and you opened it again?

hmmm...

I must admit I am surprised!

Wish you luck!

iiivb
Actually, I am with him on this one.. just because shorting the last time was wrong does not mean it is wrong now 85 pips (and 2 standard deviations) later.

This is an anti-trend trade Stevie so put your helmet on! We're gonna dance with the bulls on this one, I will abandon ship after 50 pips unless strong news happens. Good luck mate.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #1,883
  • May 22, 2007 5:05pm May 22, 2007 5:05pm
I know that countertrending is profitable too... and i have no doubt this trade could be a nice one... but... well... luck to both of you!



Quoting Plutonite
Actually, I am with him on this one.. just because shorting the last time was wrong does not mean it is wrong now 85 pips (and 2 standard deviations) later.

This is an anti-trend trade Stevie so put your helmet on! We're gonna dance with the bulls on this one, I will abandon ship after 50 pips unless strong news happens. Good luck mate.
  • #1,884
  • May 23, 2007 12:51am May 23, 2007 12:51am
Quoting iiivb
Sometimes I just do not understand the way you trade Steve...

GBP/JPY stopped and you opened it again?

hmmm...

I must admit I am surprised!

Wish you luck!

iiivb


I've told you before - just use my stop losses as your take profit and you can't go far wrong

GJ was stopped overnight at 240.42 for minus 42 pips - day' high so far 240.39 - sweet lol.

As always, most of my other positions are well in profit at the moment but I'm sure we can soon put a stop to that

Kind regards
Steve
  • #1,885
  • May 23, 2007 10:16am May 23, 2007 10:16am
HI stv
am looking for something like this
plaese can you tell me how to set my system this way.
sunnyfx

Just thought I'd give you an update on my current positions - I'm one happy bunny

GU Long from 1.8954 - currently 1.9331 - up 377 pips
EU Long from 1.2830 - currently 1.3087 - up 257 pips
UJ Short from 117.84 - currently 115.64 - up 220 pips
UCHF Short from 1.2437 - currently 1.2085 - up 352 pips
UCAD Short (opened yesterday) from 1.1414 - currently 1.1324 - up 90 pips

I knew this system would work with discipline - I have been sooooo tempted to close positions out earlier in the run or move stop losses closer to the price (as I am now) but patience pays off.

My monthly target is only 500 pips and I've currently gained 1339 pips this week, although this system will ultimately leave pips on the table...

Kind Regards
Steve[/quote]
  • #1,886
  • May 23, 2007 2:43pm May 23, 2007 2:43pm
OK, here goes.......

After much thought and soul searching I've decided to cease trading my original method at least for now. I've closed down any positions that were in profit manually and a few others had their stop losses hit today.

A couple of complimentary trades remain for the time being.

Although I'm overall only about 5% down on my original capital using this method, this last six weeks or so has made me have a rethink. Not in any period during backtesting did we have a period like we've just had on 4 of my 5 chosen pairs. Oh how different it could have been if I'd chosen to keep trading USDCAD as it would have significantly reduced my losses over the last two months and possibly returned a small profit.

I will continue to post trades here as and when I take them - most will be from my complimentary system and most will last days, weeks or possibly months. I will cherry pick from all available pairs and keep the same money management policy that has served me so well thus far.

I'm gutted it's come to this but I've found myself making poor trading decisions of late - basic errors which is unlike me generally.

My thanks to all who have supported me so far - this is by no means the end rather a new beginning as far as I'm concerned.

Kind Regards
Steve
  • #1,887
  • May 23, 2007 3:17pm May 23, 2007 3:17pm
Quoting steviet
OK, here goes.......

After much thought and soul searching I've decided to cease trading my original method at least for now. I've closed down any positions that were in profit manually and a few others had their stop losses hit today.

I'm gutted it's come to this but I've found myself making poor trading decisions of late - basic errors which is unlike me generally.
Heya Steve,

sorry to hear it's gotten to you. You may be stopping just the day before things pick up again, who knows.

But really, I've come back to haunt you with the ghosts of old - have you taken a gander at those Pin Bars I mentioned lately?


Please check out
http://forexfactory.com/showpost.php...postcount=3707
http://forexfactory.com/showpost.php...postcount=3708
http://forexfactory.com/showpost.php...postcount=3709

and at least consider it
Don't take my word, take James' for it
(although I'd be a bit choosier on some of those pin examples, for some odd reason he didn't exactly outline the best pins on some examples.....but shhhhhhh, don't let him hear or I'm in for a right smacking!)


Like I said, it doesn't mean you can't use them as trend entries, quite the opposite - often they are.

Just trying to help out

Take care,

SeekingLight
Trust price. Know yourself.
  • #1,888
  • May 23, 2007 3:20pm May 23, 2007 3:20pm
Best of luck Steve on your next step. I am sure you learned a great deal about trading from these past months, and more importantly about yourself. I think this time period when you go back and re-evaluate/reflect on everything and make the necessary changes it will be well worth it.

Will be watching your progress and wish you success as always!



Mike
  • #1,889
  • May 23, 2007 3:43pm May 23, 2007 3:43pm
Quoting SeekingLight
Heya Steve,

sorry to hear it's gotten to you. You may be stopping just the day before things pick up again, who knows.

But really, I've come back to haunt you with the ghosts of old - have you taken a gander at those Pin Bars I mentioned lately?


Please check out
http://forexfactory.com/showpost.php...postcount=3707
http://forexfactory.com/showpost.php...postcount=3708
http://forexfactory.com/showpost.php...postcount=3709

and at least consider it
Don't take my word, take James' for it
(although I'd be a bit choosier on some of those pin examples, for some odd reason he didn't exactly outline the best pins on some examples.....but shhhhhhh, don't let him hear or I'm in for a right smacking!)


Like I said, it doesn't mean you can't use them as trend entries, quite the opposite - often they are.

Just trying to help out

Take care,

SeekingLight
Eek it's a ghost - oh no it's only SeekingLight

Yes bro, the idea from hereon in is to wait patiently for what I believe are high probability set ups (including pin bars) and just let the trades come to me rather than chasing them.

That's the idea anyhow lol

Kind regards
Steve
  • #1,890
  • May 23, 2007 3:48pm May 23, 2007 3:48pm
Quoting mbqb11
Best of luck Steve on your next step. I am sure you learned a great deal about trading from these past months, and more importantly about yourself. I think this time period when you go back and re-evaluate/reflect on everything and make the necessary changes it will be well worth it.

Will be watching your progress and wish you success as always!



Mike
Thanks Mike,

Yes, I have learned a lot so far but not nearly enough & it's a time as you say for reflection over what has gone right (a lot has) and what has not gone so well.

The two big drawbacks of my original main method are choppy markets and the fact that I have to take a trade on close come what may. Often the direction is a little unclear which reduces the probabilities of a successful trade.

I still believe I can do this and it is a learning curve - I guess I'll never stop learning but I will get there coz I'm a stubborn old bugger haha

Again Mike, thanks for your kind words.

Steve
  • #1,891
  • May 23, 2007 3:59pm May 23, 2007 3:59pm
Just wanted to drop by and wish you luck,and thanks for a wonderful journal !!
  • #1,892
  • May 23, 2007 4:10pm May 23, 2007 4:10pm
Quoting Don4
Just wanted to drop by and wish you luck,and thanks for a wonderful journal !!
Hey thanks Don, much appreciated

The aim is to carry on with the journal but overall I'll be taking less trades so I may not be here updating every day.

It's just past 10pm here - normally moving stop losses and placing new trades - it's almost a relief not to have to do that tonight lol

Kind Regards
Steve
  • #1,893
  • May 23, 2007 5:53pm May 23, 2007 5:53pm
Bought EURAUD 1.6357 (s/l 1.6258 initially)
  • #1,894
  • May 23, 2007 6:08pm May 23, 2007 6:08pm
Hi Steve,my first time posting. all I want to say is Thank you for a very good journal, i have been lurking in the back ground since nov. before I found you juornal i must have trached at least 2 demo account. then i started to trade with you and eventualy imade the trade before i check your on some we agreed and on somenot. Today I use mostly trendlines pivots and candle sticks.The reason for this post to is to thank you for what i have learned from you over the last 7 months i take my hat of to you.
Carl
  • #1,895
  • May 23, 2007 6:20pm May 23, 2007 6:20pm
Quoting boomer1
Hi Steve,my first time posting. all I want to say is Thank you for a very good journal, i have been lurking in the back ground since nov. before I found you juornal i must have trached at least 2 demo account. then i started to trade with you and eventualy imade the trade before i check your on some we agreed and on somenot. Today I use mostly trendlines pivots and candle sticks.The reason for this post to is to thank you for what i have learned from you over the last 7 months i take my hat of to you.
Carl
Hi Carl,

I'm so pleased you decided to post at last but more importantly that you have found something useful here

I've always thought that if it has been of benefit to even one person then that is worth a thousand pips to me - cheers, you've made my day

Oh, and by the way, don't make it your last post

Kind regards
Steve
  • #1,896
  • May 23, 2007 6:43pm May 23, 2007 6:43pm
Quoting steviet
Oh how different it could have been if I'd chosen to keep trading USDCAD as it would have significantly reduced my losses over the last two months and possibly returned a small profit.
Maybe yes, maybe no. The bottom line is that you can't depend on a single cross to make money or reduce losses.

As you stated, something went bad. And you ought to fix it because your job as a trader is to make money and not lose money.

I am sure that the complimentary system will yield more consistent profits over the long haul and will also relieve you from the pressure and frustration of being stopped out often.

Keep in mind that there are several moments in a trader's development when you think you've touched the bottom. Those are the times when you have to step up and take immediate action, possibly learning from your mistakes and improve your strategies.

The only positive thing about losing is that you can learn a hell lot from it, so it'd be stupid to not take advantage.

Keep your head up, you're on the right track.

IS
  • #1,897
  • May 23, 2007 6:58pm May 23, 2007 6:58pm
Hi Stivie.......good journal.....why dont you consider to "HEDGE" instead of using "STOPS" and being stoped out all the time......and try to use a stop only when u are in prfts.....wat I kno about "STOPS" is that they take a lot traders out of business in a short period of time, cause losses occur more than winnrs

Breeze
  • #1,898
  • May 23, 2007 8:14pm May 23, 2007 8:14pm
Hi, Steve

Looks like you have learned a lot during your journey. This is the beginning of bigger and better things for you. Make your improvements and return to get those pips!

Happy Trading 2 U …
If it is not broken, fix it until it is!
  • #1,899
  • May 23, 2007 9:06pm May 23, 2007 9:06pm
Steve,

For my first post I thought I would send a word of encouragement. Although I would hate for it to cost you a thousand pips, I too have learned from your journal. Before January, I was usually careless in money management and blew out a couple of demos trading "my way." Just watching you pine over your trades has made me a more cautious trader and therefore more profitable. Now that I've gone live, I want to say "thank you" for what I have learned from your journal. Some days I caught myself signing on just so I could see how well you were doing and hurting for you when your trades went south.

Love your good nature and fine humor. I'm sure you make your mama proud!

Best of luck to you during this time of reflection. I'm pulling for you to come back refreshed and strong. I know you are going to be a successful trader because you have the backbone and patience to find your way.

Looking forward to reading more from you, whenever you are ready. Take your time and I'm sure you will be successful.
  • #1,900
  • May 23, 2007 9:49pm May 23, 2007 9:49pm
Steve,

I was planning to write a long blurb about discipline...success....bla..bla..bla.
But i decided to just let you know that you have earned my respect and admiration. Not only for the consistency with whcih you have carried on with this journal....through good and bad days...but also for the courage to accept that it is time to rethink your strategy and go back to the white paper.

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