Trade what you see, not what you think.
- #2,022
- Jun 17, 2007 4:57am Jun 17, 2007 4:57am
Hi Luther,
These are the totals just for this month
Kind Regards
Steve
so what the totals from the first month u begin to trade? (november) , cause in the early posts, u always count your profit from first month (november), and since u often lose, u never post your totals from first month
, i am sorry i just wanna know coz i have been followint your trades from the first post, i just wanna know your total perfomances - #2,023
- Jun 17, 2007 12:11pm Jun 17, 2007 12:11pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
so what the totals from the first month u begin to trade? (november) , cause in the early posts, u always count your profit from first month (november), and since u often lose, u never post your totals from first month
Since June have been using a new method and so far up 632, so I guess that makes plus 218 overall.
Its still very much a learning process for me, so I would rather draw a line after May and start from scratch again with effect from June as I'm now using a different method to place my trades.
Kind Regards
Steve
- #2,024
- Jun 17, 2007 12:13pm Jun 17, 2007 12:13pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
you're a born again trader, steve!i'm a bit lost with how many pairs you trade now though.lol.
keep up the good work, bro.
I'm basically looking for high probability set ups on any of the 17 pairs my broker offers. So far the most trades I've had running at any one time is 5.
Kind regards
Steve
- #2,025
- Jun 17, 2007 12:14pm Jun 17, 2007 12:14pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi Stevie,
Compliments on the journal buddy. I have been following this puppy from the get-go. Thats me lurking in the deep.Its good to see the development and discipline you have shown. It looks as though you are pulling through the rough patch and starting to rip the pips again, good for you champ. Hope things continue.
Anyway, keep up the fine work.
Have a good weekend.
Cheers
SK
Thanks for the support
Kind Regards
Steve
- #2,026
- Jun 17, 2007 12:16pm Jun 17, 2007 12:16pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi Steve,
I see things are moving along. Keep collecting those pips!
Happy Trading ...
- #2,027
- Jun 17, 2007 12:39pm Jun 17, 2007 12:39pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey ,
Great to see you here again - hope you are keeping well my friend!
Answers below in red....
Kind Regards
Steve
,Great to see you here again - hope you are keeping well my friend!
Answers below in red....
A couple of Q's just came to my mind,
-Are you still using Daily charts? Yup
-Do you enter your trade at anytime of the day? Still mainly at open/close of daily bar but theoretically I could open at any time
-How are you going about setting your s/l now? OK, it's a litle flexible this one - I'm generally placing it initially at 40-50 pips (depending on the pair) above or below a recent high/low on the dailys. I'm finding that I'm closing my trades too early but at least I'm closing most in profit and that's a start. For example, let's look at a few of my trades since 10th June and where they would be now if I hadn't closed....
EURJPY long from 162.80 - would now be plus 244 pips (Actually took minus 7)
EURJPY long from 162.42 - would now be plus 282 pips (Actually took plus 32)
GBPJPY long from 239.06 - would now be plus 484 pips (Actually took plus 86)
GBPJPY long from 239.85 - would now be plus 405 pips (Actually took plus 5)
EURUSD long from 1.3304 - would now be plus 82 pips (Actually took plus 2)
EURCAD long fro 1.4210 - would now be plus 82 pips (Actually took plus 7)
USDCHF short from 1.2439 - would now be plus 29 pips (Actually took plus 2)
So, there's over 1600 pips! As I'm in the first few weeks of my new method, I'm finding that I'm taking profit earlier, rather than risking a reversal. I then look elsewhere for a new set up on another pair. It's a tricky one trying to find a hapy medium. I must also realise that some trades I've taken a good profit on this month by closing earlier, would have turned out losers if I'd held on. Still learning lol
Steve
- #2,028
- Jun 17, 2007 1:06pm Jun 17, 2007 1:06pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Thanks a lot Steve, appreciate it.
Good luck
Good luck
Trade what you see, not what you think.
- #2,029
- Jun 17, 2007 1:45pm Jun 17, 2007 1:45pm
Hey
Answers below in red....
"...So, there's over 1600 pips! As I'm in the first few weeks of my new method.."
Kind Regards
Steve
Tamara
- #2,030
- Jun 17, 2007 2:44pm Jun 17, 2007 2:44pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Steve, I have a stupid question: have you decided to exit from the previous method? My apologies if I missed such post. Regardless, you are doing great and good luck.
Tamara
Not a stupid question - I stopped trading my original method towards the end of May. I've six months of live trading behind me using this method & I'm trying to take the best elements and incorporating into how I trade now.
I need consistency and I believe, little by little I'm getting there.
Kind Regards
Steve
- #2,031
- Jun 17, 2007 4:13pm Jun 17, 2007 4:13pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Two new trades....
GBPCHF short from 2.4537 (initial s/l 2.4611)
USDCHF short from 1.2419 (initial s/l 1.2511)
Kind Regards
Steve
GBPCHF short from 2.4537 (initial s/l 2.4611)
USDCHF short from 1.2419 (initial s/l 1.2511)
Kind Regards
Steve
- #2,032
- Jun 17, 2007 4:35pm Jun 17, 2007 4:35pm
Hi Tamara,
Not a stupid question - I stopped trading my original method towards the end of May. I've six months of live trading behind me using this method & I'm trying to take the best elements and incorporating into how I trade now.
I need consistency and I believe, little by little I'm getting there.
Kind Regards
Steve
- #2,033
- Jun 18, 2007 2:23am Jun 18, 2007 2:23am
May was the last month I used my original method and that lost over a thousand pips, making me minus 414 overall.
Since June have been using a new method and so far up 632, so I guess that makes plus 218 overall.
Its still very much a learning process for me, so I would rather draw a line after May and start from scratch again with effect from June as I'm now using a different method to place my trades.
Kind Regards
Steve
- #2,034
- Jun 18, 2007 6:23am Jun 18, 2007 6:23am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hmm, I suppose that little winning streak had to end some time lol.
GBPCHF short from 2.4537 stopped out at 2.4631 for minus 94 pips. A bit anoying as the high for today was 2.4630 and now trading back in the 2.4570's - oh well, ho hum.
USDCHF short from 1.2419 is currently plus 23 pips, so maybe we'll make at least some back by the end of the day.
June pips: plus 538
Kind Regards
Steve
GBPCHF short from 2.4537 stopped out at 2.4631 for minus 94 pips. A bit anoying as the high for today was 2.4630 and now trading back in the 2.4570's - oh well, ho hum.
USDCHF short from 1.2419 is currently plus 23 pips, so maybe we'll make at least some back by the end of the day.
June pips: plus 538
Kind Regards
Steve
- #2,035
- Jun 18, 2007 7:50am Jun 18, 2007 7:50am
Hi Steve,
I'm glad to see you are in here and updating your journal. i'm your old visitors maybe you forget me but i'm first man that voted 5 star your thread coz i know that you are good trader.
Thank you for shared your trades.
Good luck my bro
I'm glad to see you are in here and updating your journal. i'm your old visitors maybe you forget me but i'm first man that voted 5 star your thread coz i know that you are good trader.
Thank you for shared your trades.
Good luck my bro
With Regards,
MKTrader
Not Risk Not Gain!
- #2,036
- Jun 18, 2007 11:28am Jun 18, 2007 11:28am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi Steve,
I'm glad to see you are in here and updating your journal. i'm your old visitors maybe you forget me but i'm first man that voted 5 star your thread coz i know that you are good trader.
Thank you for shared your trades.
Good luck my bro
Kind Regards
Steve
- #2,037
- Jun 18, 2007 11:33am Jun 18, 2007 11:33am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Well, the USDCHF short hasn't really gone anywhere today - may close for a few pips tonight.
I was going to go long on the /CAD pairs last night but I bottled it - at least I can see that my initial thoughts were correct for next time this set up occurs. As I've said previuosly, I closed an EURCAD long from 1.4210 way too early and last night would have been the perfect opportunity to lock in a few pips on that trade and add to it. However, I'm learning how these set ups generally play out so I just need to be disciplined and follow them.
Update later...
Kind Regards
Steve
I was going to go long on the /CAD pairs last night but I bottled it - at least I can see that my initial thoughts were correct for next time this set up occurs. As I've said previuosly, I closed an EURCAD long from 1.4210 way too early and last night would have been the perfect opportunity to lock in a few pips on that trade and add to it. However, I'm learning how these set ups generally play out so I just need to be disciplined and follow them.
Update later...
Kind Regards
Steve
- #2,039
- Jun 18, 2007 11:57am Jun 18, 2007 11:57am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
I see a similar discussion taking place in the James16 thread.
I, like others am finding reasonable entries in the most part from the daily charts - it's where to decide to exit that is the tricky one and whether to keep the s/l far enough away from the price so as not to get stopped out in the first few days, but also to keep the s/l close enough to the price so as not to either end up with a losing trade or giving back too high % of profits should a reversal occur.
Don't know how close I am to getting the balance right but I do know that I've just constructed the longest sentence in the journal so far
Can be very frustrating at times - just when you think you've got it, you have further obstacles to overcome.
Kind Regards
Steve
I, like others am finding reasonable entries in the most part from the daily charts - it's where to decide to exit that is the tricky one and whether to keep the s/l far enough away from the price so as not to get stopped out in the first few days, but also to keep the s/l close enough to the price so as not to either end up with a losing trade or giving back too high % of profits should a reversal occur.
Don't know how close I am to getting the balance right but I do know that I've just constructed the longest sentence in the journal so far
Can be very frustrating at times - just when you think you've got it, you have further obstacles to overcome.
Kind Regards
Steve
- #2,040
- Jun 18, 2007 12:00pm Jun 18, 2007 12:00pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi Steviet ,
Just wanna say "Good Luck with u'r trading"
i learned a lot about forex from u'r journal here ....
Ganbatte !!!
Kind Regards
Steve