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Steviet's Live Trades!

  • #1,921
  • May 29, 2007 3:29pm May 29, 2007 3:29pm
OK, time for an update on current trades - my word, it's a little less stressful.

Aussie Trades

AUDUSD short from 0.8238, opened 17th May currently plus 54 pips
EURAUD long from 1.6357, opened 24th May currently plus 73 pips

We now have moved stop losses into profit - AU is still supported at around 0.8175 area, EA broke through to hit a high of 1.6480 but has pulled back to the 1.6435 area.

CAD Trade

EURCAD long from 1.4578, opened 24th May stopped out for minus 96 pips today. This was a poor trade from the start and although I nearly got lucky (was in profit by some way earlier today), a lesson has been learned in not waiting for confirmation of a bottom in the market. Serves me right lol.

Swiss Trades

GBPCHF short from 2.4378, opened 24th May currently plus 104 pips.
USDCHF short from 1.2273, opened 24th May currently plus 23 pips.

At last the Swiss Franc made it's move today and although it has regained some of it's losses in the last few hours, will be looking for a further move tomorrow. Stop losses have been tightened slightly but depends what the pairs do tomorrow.

Yen Trades

GBPJPY short from 240.82, opened 24th May, currently minus 23 pips.
USDJPY short from 121.53, opened 22nd May currently minus 11 pips.

Again, yen has been volatile today, especially after the Chinese news. Both trades have been positive and still looking for some more downside momentum. Stop losses remain at the same levels at present.

This way of trading calls for vast amounts of patience, together with wider stop losses to make the most of each move. I only move the stop loss when I feel the time is right to either protect profits or in the case of bad trades, reduce the overall loss.

Enjoying the challenge so far

Kind Regards
Steve
  • #1,922
  • May 29, 2007 3:42pm May 29, 2007 3:42pm
Quoting steviet
We now have moved stop losses into profit - AU is still supported at around 0.8175 area, EA broke through to hit a high of 1.6480 but has pulled back to the 1.6435 area.

GBPCHF short from 2.4378, opened 24th May currently plus 104 pips.

Oh yea baby!

Please tell me the pin bar had something to do with the GBPCHF ;p

And if not.....at least make pretend! ;D

Take care and keep up the good work =)
Trust price. Know yourself.
  • #1,923
  • May 29, 2007 3:44pm May 29, 2007 3:44pm
Quoting SeekingLight
Oh yea baby!

Please tell me the pin bar had something to do with the GBPCHF ;p

And if not.....at least make pretend! ;D

Take care and keep up the good work =)
It had everything to do with the pin bar : , or whatever the candlestick equivalent lol

Happy now?

Oh yeah, and stop calling me baby - getting worried about you hehe (joke)

Kind Regards
Steve
  • #1,924
  • May 29, 2007 5:11pm May 29, 2007 5:11pm
Quoting steviet
Happy now?

Trust price. Know yourself.
  • #1,925
  • May 30, 2007 4:13pm May 30, 2007 4:13pm
Quoting steviet
It had everything to do with the pin bar : , or whatever the candlestick equivalent lol

Happy now?

Oh yeah, and stop calling me baby - getting worried about you hehe (joke)

Kind Regards
Steve
shooting star!!
  • #1,926
  • May 30, 2007 4:42pm May 30, 2007 4:42pm
Quoting hilmy83
shooting star!!
That's the one

OK, mixed day today.....

Both Aussie trades were stopped out today AUDUSD short for plus 9 pips & long EURAUD for plus 10 pips. AU was up over 60 pips at one point over the time it was open & EA was up over 115! I guess a win is a win & the way this method works is that there is no TP, only movement of stop loss.

Similar to my original method it aims to stay with the really big moves.

No new trades entered today but current positions are....

GBPCHF short from 2.4378 - currently up 154 pips
USDCHF short from 1.2273 - currently up 13 pips
GBPJPY short from 240.82 - currently up 37 pips
USDJPY short from 121.53 - currently down 14 pips

Stop losses on all positions have been tightened and in the case of GBPCHF moved into a small profit.

Kind Regards
Steve
  • #1,927
  • Jun 1, 2007 1:21am Jun 1, 2007 1:21am
OK, a few closed trades to report...

GBPJPY short from 240.82 minus 56 pips
GBPCHF short from 2.4378 plus 102 pips
USDCHF short from 1.2273 plus 9 pips

Also a trade that has been held for two weeks manually closed....

NZDUSD long from 0.7372 plus 33 pips

New trade opened yesterday...

EURGBP short from 0.6795 (s/l 0.6828)

Other existing trade still open from 22nd May not looking great....

USDJPY short from 121 53 (s/l 122.38)

Kind Regards
Steve
  • #1,928
  • Jun 2, 2007 6:47am Jun 2, 2007 6:47am
Just one trade closed Friday - EURGBP short for plus 8 pips - wow lol

Thx SeekingLight, another pin bar set up on the dailies

Have a great weekend all!

Kind Regards
Steve
  • #1,929
  • Jun 3, 2007 4:21pm Jun 3, 2007 4:21pm
Quoting steviet
Just one trade closed Friday - EURGBP short for plus 8 pips - wow lol

Thx SeekingLight, another pin bar set up on the dailies

Have a great weekend all!

Kind Regards
Steve

No prob Stevie

Keep in mind, if you had entered right away stop was 14+spread, 20ish+spread on break entry. Even on a break entry the move out on the next day after the PB was 19 pips.
That's almost 1:1 on the break, more for the instant-entry. If you use a % based MM, you'll have gotten your stop size out of it within one day.
Just a question of scale
If it makes a new low you've now got insane leverage with only <=20 pips stop size if you had held it =)
Might take a bit though, there are some tough nuts to crack in EMA form, but still, just saying in general. The pips may sound small, but in % relation terms, it's quite something. That's just how pairs are I guess, 20 pips on EURGBP are the world, 60 pips on GJ are a whisper.

Take care, it seems you're really going somewhere again =)

SeekingLight

P.S. Naughty boy for closing out a Kiwi long in these conditions AND with so nice an interest to be earned on it!
Trust price. Know yourself.
  • #1,930
  • Jun 3, 2007 4:37pm Jun 3, 2007 4:37pm
Quoting SeekingLight
No prob Stevie

Keep in mind, if you had entered right away stop was 14+spread, 20ish+spread on break entry. Even on a break entry the move out on the next day after the PB was 19 pips.
That's almost 1:1 on the break, more for the instant-entry. If you use a % based MM, you'll have gotten your stop size out of it within one day.
Just a question of scale
If it makes a new low you've now got insane leverage with only <=20 pips stop size if you had held it =)
Might take a bit though, there are some tough nuts to crack in EMA form, but still, just saying in general. The pips may sound small, but in % relation terms, it's quite something. That's just how pairs are I guess, 20 pips on EURGBP are the world, 60 pips on GJ are a whisper.

Take care, it seems you're really going somewhere again =)

SeekingLight

P.S. Naughty boy for closing out a Kiwi long in these conditions AND with so nice an interest to be earned on it!
LOL, yup, that kiwi long was taken out at 0.7372 on 14th May and I watched it tumble and flirt with my stop loss for days. It came within 1 pip of being stopped out at 0.7233 during that time. It was one of those that I was pleased to get anything out of lol. In hindsight, I should still be in the trade but there you go.

I'm being much more selective with my entries now, looking for high probability set ups so let's see how it goes.

Still learning & thanks for the advice

Kind regards
Steve
  • #1,931
  • Jun 3, 2007 4:56pm Jun 3, 2007 4:56pm
New trade opened at Sunday open....

EURUSD long from 1.3442 (initial s/l 1.3350)

Kind Regards
Steve
  • #1,932
  • Jun 4, 2007 2:35am Jun 4, 2007 2:35am
  •  markt
  • | Joined Jan 2007 | Status: Would be... Full time trader | 88 Posts
Hi there Stevie,

I think from now on it all becomes clearer. (We both hope!), but agree that trade selection is the key. I am using minimum s/l of 45 pips on any trade now, and also adjusting to maybe 65 pips for any yen trade. Good luck with your future trades!

mark
  • #1,933
  • Jun 4, 2007 4:04pm Jun 4, 2007 4:04pm
Quoting markt
Hi there Stevie,

I think from now on it all becomes clearer. (We both hope!), but agree that trade selection is the key. I am using minimum s/l of 45 pips on any trade now, and also adjusting to maybe 65 pips for any yen trade. Good luck with your future trades!

mark
Thanks Mark
  • #1,934
  • Jun 4, 2007 4:12pm Jun 4, 2007 4:12pm
OK, a quick update on current trades....

Still holding USDJPY short from 121.53, opened 22nd May - currently minus 24 pips.

EURUSD long opened yesterday from 1.3442 (s/l now 1.3450) - currently plus 46 pips.

Opened EURCAD long a few minutes ago at 1.4281 (s/l 1.4162) after the completed daily bar.

Kind regards
Steve
  • #1,935
  • Jun 4, 2007 8:44pm Jun 4, 2007 8:44pm
hi Steviet,

What is your position sizing/money management strategy?

Thanks,

wll
  • #1,936
  • Jun 5, 2007 11:37am Jun 5, 2007 11:37am
Quoting woolala
hi Steviet,

What is your position sizing/money management strategy?

Thanks,

wll
Hi

Generally I'll use around 1% of margin for each trade - stop loss size does determine actual % depending on where I see likely strong support or resistance.

Kind Regards
Steve
  • #1,937
  • Edited 12:06pm Jun 5, 2007 11:51am | Edited 12:06pm
OK, decided to close all 3 open trades for now and look at new set ups at the close of today's daily bar.....

USDJPY short from 121.53 opened 22nd May plus 20 pips
EURUSD long from 1.3442 opened 4th June plus 84 pips
EURCAD long from 1.4281 opened 4th June plus 65 pips

So, plus 169 pips on closed trades today. Just waiting for the set ups I like & I'll see how good I am lol. Some I may keep on for weeks if I feel like it & some I'll close for some quick pips in a day or two like the Euro trades today.

Total closed trades for June - plus 277 pips
Curren open trades - none

Kind Regards
Steve
  • #1,938
  • Jun 5, 2007 6:25pm Jun 5, 2007 6:25pm
Quoting steviet
So, plus 169 pips on closed trades today. Just waiting for the set ups I like & I'll see how good I am lol. Some I may keep on for weeks if I feel like it & some I'll close for some quick pips in a day or two like the Euro trades today.

Total closed trades for June - plus 277 pips
Curren open trades - none

Kind Regards
Steve
See how a bit of Pinny can make a lot of winny? ;D

Good job, keep on trucking!
Trust price. Know yourself.
  • #1,939
  • Jun 5, 2007 7:16pm Jun 5, 2007 7:16pm
Nice trading. Seems like you are back into the swing off things! Keep it up.
  • #1,940
  • Jun 5, 2007 7:49pm Jun 5, 2007 7:49pm
Steve,

Nice trades!

wll

Quoting steviet
OK, decided to close all 3 open trades for now and look at new set ups at the close of today's daily bar.....

USDJPY short from 121.53 opened 22nd May plus 20 pips
EURUSD long from 1.3442 opened 4th June plus 84 pips
EURCAD long from 1.4281 opened 4th June plus 65 pips

So, plus 169 pips on closed trades today. Just waiting for the set ups I like & I'll see how good I am lol. Some I may keep on for weeks if I feel like it & some I'll close for some quick pips in a day or two like the Euro trades today.

Total closed trades for June - plus 277 pips
Curren open trades - none

Kind Regards
Steve
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