Steviet's Live Trades!

The GBPJPY has been great hunting of late. A good set of scalps to be had over the last day or so, I have been grabbing every last pip I can from this pair, including scalps against the trend.

Do you wear a balaclava when you trade, you should cause you are robbing the banks blind.

Good Work!

Steve,

time to reveal the system?

OK, yesterday morning woke up to see my positions heavily down and all through yesterday the yen struggled against all currencies.

However, emergency stop losses were in place and managed to scalp 30 pips on GBPJPY.

I opened a further short last night at 237.17 which I just closed an hour ago at 236.57 for 60 pips. Also managed to close further shorts that I opened a day or two ago for a further 46 pips and another quick scalp from 236.64 at 236.44 a moment ago.

UJ & EJ still open from over a day ago and currently minus 75 & minus 45.

It's difficult to explain how I'm doing this and although I made over 20% last month doing this and 5.12% this month, I have had unrealised drawdown of nearly 30% at times.

I've scalped in excess of 200 trades with 2 losses so far and over 2500 pips in less than a month but I must be prepared that some of my disaster stops will be hit at times. This may mean giving back a % of my profits but I'm backing myself to come out on top overall.

There have been various PM's and questions here about my strategies but so much of this is gut instinct and this has only worked so far because of the low risk I attach to the individual trades. As usual it's very much work in progress and I'm doing this to educate myself on the smaller timeframes.

I wouldn't recommend anyone follow my trades as signals - without the money management accounts would be blown and its not for the faint hearted - we're in balls of steel territory here lol.

OK, so October closed trades stand at plus 597 pips, an increase of 5.12% in account balance this month.

Kind Regards
Steve

You don't know how close to home your comments came - I've worked in the banking industry for 20 years and have been the victim of 3 armed raids with a gun at my head over that time. Maybe I'm getting my own back now lol.

Thanks for your comments and may the pips be with you

Kind Regards
Steve

Hey Alcastro

See above bro - still very much in the experi(mental) stage hehe.

This scalping business is like being in a boxing match - only in round one so far and need to keep my defences up or I'll get knocked out lol

Kind Regards
Steve

Just popped in to see your progress!!
Great work Steve!

New Avatar for you steve.

ROFLMAO

I'm sure his broker has a similar wanted poster up with his name on it. Steviet of ForexFactory, wanted for scalping and other burglaries, reward in pips. Wanted short or long! (better than dead or alive)

OK OK hahahaha

They do seem to be sending me more emails than before lol but it's not because I'm suddenly popular hehe.

Anyhow, you proper traders - where exactly is this GBPJPY going??? Not having a great deal of joy trying to pick the top here but there's surely got to be a substantial retrace of this daily move upwards sometime.

My thoughts are that it will at least re-test around the 235.50 area at some point where it broke out of that range but what do I know?!

Kind Regards
Steve

Darned if I know. I'm currently staying out of GJ because it's hard to tell what's happening on the USDJPY and the cable.lots of choppy motion. In fact, I was scalping along with you yesterday

But for serious trades, it's much easier to stick to the */USD than trade a complex currentcy like this one. I'm only going to go really short when a decent daily pattern shows the rally is over. And if you look at the daily or weekly chart, it could be far from over.

Cheers
-A

Yup, this 237.85 is pretty strong resistance so we'll see if it manages to break through. Thought the BOE may have surprised today with a 0.25% cut an the general feeling in the business community seems to be that they've missed a trick.

Oh well, for now just sneaked another 10 pips from 237.59 short hehe. Have another short taken out earlier at 237.36 so should be able to close that in profit in the next few hours.

Oct totals plus 607 pips (plus 5.20% inc in account bal)

Kind regards
Steve

A predictably boring pre-NFP Aasian session but managed to grab 20 pips, 10 on two shorts from 237.47 & 237.36.

Oct pips +627
A/C Bal +5.38% for Oct

Kind Regards
Steve

A bit of movement at last! Just opened a short from 237.59 and took another 10 pips - my broker must love me hehe.

Also have shorts at 237.41 & 237.32...

+637

There goes 237.41 closed out at 237.31 for another 10

+647 (+5.56%)

the short from 237.32 just closed manually at 237.12 for 20 pips. OK, time for work, do your worst NFP lol.

Oct +667 (+5.74%)

Have a good one all

Kind Regards
Steve

hehe,

just in for lunch & placed a short at 237.63 - immediately dropped for me so closed at +10 on 237.53

Oct pips +677 (+5.82%)

Oct pips +677 (+5.82%), great fiqure.

Good work Stevie!

Hi Steviet

It sounds like you have more fun trading in "scalping" mode rather than "swing" mode.

Have you asked yourself whether short-term trading may be your niche?