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Steviet's Live Trades!

  • #2,601
  • Oct 16, 2007 4:22pm Oct 16, 2007 4:22pm
Quoting Ted1983
Hi there Mr T.

I notice that your acc' balance increased 0.1% with 10 pips profit, meaning your account is 10,000 pips "big".

This seems like a very small amount of risk per trade. Have you arrived at this risk level through painful experience or have your trades been this size since the beginning of the thread?

(Just wondering because one of "my" pips equates to about 1/2000 equity at the moment,subject to change.)

It is my belief that if a pip constitutes more than 1/1000 equity then we're getting into seriously dicey trade sizes but 1/10,000 seems a bit stingey.

BTW. Congratulations on the awesome performance, long may it continue.

Regards,

Ed.
Hi Ed

I've always used the same risk - stingey, that's me hehe but I wanted to ensure I at least survived my first year & it's worked for me so far

Update - 30 more pips from GBPJPY shorts...

237.69 closed at 237.49
237.56 closed at 237.46

Oct pips: +1838
% bal increase Oct: +16.67%

Kind Regards
Steve
  • #2,602
  • Oct 16, 2007 4:32pm Oct 16, 2007 4:32pm
1800+ pips and half way through the month. I'll be honest,I didn't believe that type of thing was possible.
Looks like you've tamed the Beast good and proper!
  • #2,603
  • Oct 16, 2007 5:00pm Oct 16, 2007 5:00pm
Quoting Ted1983
1800+ pips and half way through the month. I'll be honest,I didn't believe that type of thing was possible.
Looks like you've tamed the Beast good and proper!
Nor did I Ed to be truthful.

Since I started the scalping strategy I've had a string of over 230 profitable trades, 83 so far in October. It's purely a test and I'm not trying to be clever and of course it may blow up in my face.

All trades have a disaster stop of 1000 pips (eek) and when they are initially placed it's true that would be just under a 10% loss if hit. However, as my account balance grows and the 'older' the trades become, the less impact these would have on my new balance.

For example, I still have a couple of shorts in the high 232's on GJ. If the stops are hit at the high 242's before we hit 232 again, initially the risk was 20% of my then account balance. Now, if they were hit tomorrow we'd be looking at around 15%. Of course I'd hope to make some more pips on the way up which would soften the blow further.

Let's see if I can do this consistently over a number of months before drawing any conclusions. I'm also aware that there are those here that believe it cannot be done.

Kind regards
Steve
  • #2,604
  • Oct 16, 2007 5:28pm Oct 16, 2007 5:28pm
GJ short 237.60 closed 237.50 for 10 pips

Oct +1848 pips, A/c bal Oct +16.77%
  • #2,605
  • Oct 16, 2007 5:32pm Oct 16, 2007 5:32pm
steviet, could u please tell us how ur making theese pips....Is it a certain strategy.....i would really like to know, THank you!
  • #2,606
  • Oct 16, 2007 6:32pm Oct 16, 2007 6:32pm
Hi Steve

Firstly congratulations on your results - they are awesome !!

The style of trading you have outlined suits me down to the ground. I have been trying various strategies since I started trading 15 months ago with mixed success. I have recently been trading 4 hrly charts with better results but when I read your threads, bells rang for me as I have been looking for a daily trading style. I have a few questions if you would be so kind to answer them.

Which pairs do you trade ?

How many trades do you have open at any given time ?

Do you simply stay out when the market is ranging ?

Do you only open an initial trade on a pair after the trend has changed or do you get in the middle of a trend ?

What type of order do you use ?

Which pairs have provided you with the best results ?

Have you used trailing stops or do you always move your stops manually after the close of New York ?

I am from Sydney, Australia and our daily candles start on the charts at 10.00am – I notice you are from the UK and so do you open a trade at the start of a new candle or otherwise when do you open a trade? (ie open of NY, open of UK, or any time ?)

Do you use Japanese candles or heiken ashi ?

Is it possible to post a chart or two of your current trades showing open trades with stops ?

Sorry for asking so many questions but I am really interested in trying this method of trading and if you would be kind enough to answer these questions I feel I will be well armed to give it a go.

Thanks in anticipation

Warren
Ozfxtrader
  • #2,607
  • Oct 16, 2007 6:48pm Oct 16, 2007 6:48pm
Quoting doughboi
steviet, could u please tell us how ur making theese pips....Is it a certain strategy.....i would really like to know, THank you!
Hi

Yes, it is a certain strategy that I've developed, however I use no indicators and entries are based purely on price action. The last 6 weeks or so I've been trading purely off the 5 minute charts.

As a result they would be extremely difficult to replicate - a lot of what I do on these short timeframes are what I would call gut instinct and hours in front of these blessed charts.

Kind Regards
Steve
  • #2,608
  • Oct 16, 2007 6:51pm Oct 16, 2007 6:51pm
Quoting ozfxtrader
Hi Steve

Firstly congratulations on your results - they are awesome !!

The style of trading you have outlined suits me down to the ground. I have been trying various strategies since I started trading 15 months ago with mixed success. I have recently been trading 4 hrly charts with better results but when I read your threads, bells rang for me as I have been looking for a daily trading style. I have a few questions if you would be so kind to answer them.

Which pairs do you trade ?

How many trades do you have open at any given time ?

Do you simply stay out when the market is ranging ?

Do you only open an initial trade on a pair after the trend has changed or do you get in the middle of a trend ?

What type of order do you use ?

Which pairs have provided you with the best results ?

Have you used trailing stops or do you always move your stops manually after the close of New York ?

I am from Sydney, Australia and our daily candles start on the charts at 10.00am – I notice you are from the UK and so do you open a trade at the start of a new candle or otherwise when do you open a trade? (ie open of NY, open of UK, or any time ?)

Do you use Japanese candles or heiken ashi ?

Is it possible to post a chart or two of your current trades showing open trades with stops ?

Sorry for asking so many questions but I am really interested in trying this method of trading and if you would be kind enough to answer these questions I feel I will be well armed to give it a go.

Thanks in anticipation

Warren
Ozfxtrader
Hi Warren,

Good to see you & thanks for your post

OK, it's nearly 1am here but I promise I'll reply to this tomorrow.

Kind Regards
Steve
  • #2,609
  • Oct 16, 2007 7:19pm Oct 16, 2007 7:19pm
K, 2 more bedtime scalps

GJ 237.76 to 237.66
GJ 237.66 to 237.56

20 pips

Oct +1868 pips
A/C Oct +16.96%

zzzzzzzzzzzzzzz
  • #2,610
  • Oct 16, 2007 7:30pm Oct 16, 2007 7:30pm
K, that really is it now!

GJ 231.31 closed 231.21 for +10

Oct +1878 pips
+17.06%

Night all
  • #2,611
  • Oct 17, 2007 12:40am Oct 17, 2007 12:40am
One overnight gain to report...

GBPJPY short from 236.63 closed at 236.33 (+30)

+1908
+17.32%

  • #2,612
  • Oct 17, 2007 1:07am Oct 17, 2007 1:07am
Breakfast scalp

GJ short 236.35 closed 236.25 (+10)

+1918 pips
+17.42%
  • #2,613
  • Oct 17, 2007 1:17am Oct 17, 2007 1:17am
Hi Steviet,

Looks like scalping has become the dominant force in your trading machine. And your results are quite impressive. Keep it up.
  • #2,614
  • Edited 1:55am Oct 17, 2007 1:18am | Edited 1:55am
Old short cleared up...

GJ 236.13 closed 236.03 (+10)

Oct +1928 pips, A/c +17.51%
  • #2,615
  • Oct 17, 2007 1:19am Oct 17, 2007 1:19am
Quoting amylase
Hi Steviet,

Looks like scalping has become the dominant force in your trading machine. And your results are quite impressive. Keep it up.
Thanks
  • #2,616
  • Oct 17, 2007 6:16am Oct 17, 2007 6:16am
Sneaked another 10 pips on short 236.47 to 236.37 just b4 I went to work.

Looks like it's taken off since then!

Oct +1938 pips, +17.61%
  • #2,617
  • Oct 17, 2007 11:30am Oct 17, 2007 11:30am
Opened two shorts on GBPJPY whilst I was on lunch and pleased to say one hit profit target, the other I've just closed manually....

GBPJPY short from 238.45 closed 237.43 (+102 pips)
GBPJPY short from 238.22 closed 237.72 (+50 pips)

Oct pips now +2090
Oct bal increase +19.10%

Kind Regards
Steve
  • #2,618
  • Oct 17, 2007 11:40am Oct 17, 2007 11:40am
What's you secret... sure this must be the holy grail.
Wanna tell us?
I'm interested to caputure 2000 pips also in 15 days.

Great trades!
Wiper
  • #2,619
  • Oct 17, 2007 12:05pm Oct 17, 2007 12:05pm
Quoting wiper
What's you secret... sure this must be the holy grail.
Wanna tell us?
I'm interested to caputure 2000 pips also in 15 days.

Great trades!
Wiper
LOL, maybe my holy grail of sorts, time will tell.

So the last two weeks of September made around 2500 pips and first two weeks of October another 2000 pips or so just scalping mainly GJ. That's a pretty good month - I can even afford a couple of my disaster 1000 pip stops getting hit and still have a healthy profit. Also, the older trades were taken out when my balance was substantially lower so if/when they are hit will have less effect.

Interestingly enough, since GBPJPY broke out of the range upwards of 235.50 area, all my pips have been made with shorts. Maybe I like to do things the hard way lol.

Question is, can you stomach a 1000 pip stop loss and more importantly, could your account handle a few of them getting hit?

I've actually surprised myself but must stay disciplined and on the ball and see how consistent I can be.

Kind Regards
Steve
  • #2,620
  • Oct 17, 2007 12:06pm Oct 17, 2007 12:06pm
can i know what broker that u used?

how about the spread?
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