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Steviet's Live Trades!

  • #2,901
  • Nov 7, 2007 4:44pm Nov 7, 2007 4:44pm
Steve, I want to say thank you for contributing to your success as well as mine. Everytime I was in a funk with trading, I'd come over to your thread and read it. I thought to myself; If he can do it, then why can't I? So thanks for being an inspiration when I was about to give up completely. It takes a lot to do such a thing. Thanks again, and whatever you do, I wish you the best of everything.
I dream, therefore I become.
  • #2,902
  • Nov 7, 2007 8:58pm Nov 7, 2007 8:58pm
congrats Steve.

All the best.

  • #2,903
  • Nov 8, 2007 11:56am Nov 8, 2007 11:56am
Thanks so much for your kind words everyone

Just to update you, I'm trying to refine my methods to suit a bigger account size and the different challenges that brings.

If someone has a 7 figure account, then floating losses become incredibly important and I'm trying to keep drawdown to an absolute minimum in this first stage of testing.

This week I've managed to grab 662 pips over 14 trades and, as of last night had no positions open. Not so great today with GJ not sure whether it's more comfortable in the 235's or 238's but overall I'm very happy wit the start I've made.

Look guys n gals, I know it's been a real pain keeping this thing updated every day for a year but I would recommend it to anyone.

Without it I wouldn't have met all you wonderful people nor received the level of help from countless experenced traders.

I'm nowhere near being the trader I want to be and I think to keep that mindset is important. As soon as you think you've arrived you are in deep trouble lol.

I'll try and keep you up to date from time to time with things - trying to fight off a bout of 'man flu' at the mo hahaha

Kind Regards
Steve
  • #2,904
  • Nov 8, 2007 3:27pm Nov 8, 2007 3:27pm
Steve, Thank you for all your updates, thoughts, etc. It's been great to observe a successful trader, especially being a beginner myself. It busts my confidence level much higher. Still, I hope you can come over and update us from time to time on your thoughts, new ideas, and most important: your return%. Will miss you! Well done and All The Best!!! George
  • #2,905
  • Nov 8, 2007 4:26pm Nov 8, 2007 4:26pm
Quoting GeorgeW
Steve, Thank you for all your updates, thoughts, etc. It's been great to observe a successful trader, especially being a beginner myself. It busts my confidence level much higher. Still, I hope you can come over and update us from time to time on your thoughts, new ideas, and most important: your return%. Will miss you! Well done and All The Best!!! George
Thanks George,

I'll try and stay around and update from time to time. The % from now won't be so high as I have to get in the mindset of trading much larger positions than I'm used to.

An 'investor' may like the big % profits but what can also come with that is the big floating % drawdowns. Last month's 40% on my new method would equate to 4% (or 8% on a higher risk model), but I'm looking to limit the drawdowns too.

So far this month has been good to me with just over 750 pips on GJ and it's been done on a combination of my original trend method plus what I've learnt trading very short term.

Loads of rules depending on what the preceeding daily bar looks like - still have to look at them for all the permeatations I have for any given situation lol.

Important thing is we've been in a range for 7 days now on GJ - 7 bars all gong the opposite way to the previous. That's a great test to know that I've come through ahead, as essentially it will take advantage of the market more when we go on a bull or bear run.

All good fun

Good luck in your trading George!!

Kind Regards
Steve
  • #2,906
  • Nov 12, 2007 9:43pm Nov 12, 2007 9:43pm
Quoting vinnie99
HOW can you be succesfull like that? 310 winst and no loss

What is your reward/risk ratio? What is your expected return monthly, YTD?

Vinnie, your asking questions that may not want to be shared. You will find that many traders do not want to share their expected monthly return or year to date. Just consider inquiring into the average pips he makes and this will not be as intrusive.
  • #2,907
  • Nov 13, 2007 7:58am Nov 13, 2007 7:58am
Oh, Steve, I forgot one thing.

if you could, please say which broker are you using and in case of change, please let us know, if possible.

I've heard some brokers will turn completely different when one starts to trade bigger lots.

We, traders, need to keep an eye on them.

As for me:
I'm using FXSolutions and Oanda. I used to be with Neuimex as well, but now they're experiencing trouble (many Swiss brokers were shut down) and trying to slowly recover.
FXSol - OK, but their swaps are large. Oanda - so far really good.
Neuimex - the most stable MT4 platform you can get and very fast price feed.

Many Thanks Again!

George
  • #2,908
  • Nov 15, 2007 12:32pm Nov 15, 2007 12:32pm
Quoting GeorgeW
Oh, Steve, I forgot one thing.

if you could, please say which broker are you using and in case of change, please let us know, if possible.

I've heard some brokers will turn completely different when one starts to trade bigger lots.

We, traders, need to keep an eye on them.

As for me:
I'm using FXSolutions and Oanda. I used to be with Neuimex as well, but now they're experiencing trouble (many Swiss brokers were shut down) and trying to slowly recover.
FXSol - OK, but their swaps are large. Oanda - so far really good.
Neuimex - the most stable MT4 platform you can get and very fast price feed.

Many Thanks Again!

George
Hi George,

I've used Marketiva since day 1 trading live and I've just been refining my system to suit a potential investor. If and when we start this partnership, I'll be using another broker & I'll let you know my experiences with them.

I'll post my results for November so far a little later for anybody who's remotely interested

Kind Regards
Steve
  • #2,909
  • Nov 15, 2007 12:52pm Nov 15, 2007 12:52pm
Heya Steve

Quoting steviet
I'm nowhere near being the trader I want to be and I think to keep that mindset is important. As soon as you think you've arrived you are in deep trouble lol.
This is very true imho.

Quote
I'll try and keep you up to date from time to time with things - trying to fight off a bout of 'man flu' at the mo hahaha

Kind Regards
Steve
Have lots of orange juice and Vitamins =)
Scalp lots of them regularly
You might also find a steady intake of Vit C enriched pineapple juice to everyone's benefit, including the wife
*ahem*

Btw, you might want to consider whether taking on "external" capital won't mess with the exact concept of humble beginnerism you hinted at above / won't mess with your head. Just saying, it can be a factor.

Personally I'd go nuts trading OPM, still lightyears away from it. It's a big question mark for me and I am not going near it just yet

Anyway. Not gonna spoil the party

Get well soon and best for your new trading plans =)

SeekingLight
Trust price. Know yourself.
  • #2,910
  • Nov 15, 2007 2:53pm Nov 15, 2007 2:53pm
Quoting SeekingLight
Heya Steve



This is very true imho.

Have lots of orange juice and Vitamins =)
Scalp lots of them regularly
You might also find a steady intake of Vit C enriched pineapple juice to everyone's benefit, including the wife
*ahem*

Btw, you might want to consider whether taking on "external" capital won't mess with the exact concept of humble beginnerism you hinted at above / won't mess with your head. Just saying, it can be a factor.

Personally I'd go nuts trading OPM, still lightyears away from it. It's a big question mark for me and I am not going near it just yet

Anyway. Not gonna spoil the party

Get well soon and best for your new trading plans =)

SeekingLight
Hey

Seems like ages since I wrote anything here - am I getting withdrawal symptoms?? hehe

Yup, taking a big jump as far as account size is concerned, is something I'm really conscious of - been talking a lot with Monsieur Kaos (Turbo ) who's used to trading these amounts.

I've always been careful to talk pips & %'s and he says this is the best way to go - in other words, forget about the money at stake. After all, a pip is a pip is a pip & that's what I need to keep drumming into myself.

Oh yeah, I think my man flu is on it's way out at last thank goodness - seems to take longer to kick these things into touch as I turn gracefully into an old git

Update as promised in a couple of hours.....

Kind Regards
Steve
  • #2,911
  • Nov 15, 2007 4:18pm Nov 15, 2007 4:18pm
OK, as promised I'm posting the results for November so far below. I'm trading GBPJPY exclusively and using a position size of 0.2% of account balance.

02/11 - Closed trades 0, pips 0
05/11 - Closed trades 7, pips 312
06/11 - Closed trades 2, pips 100
07/11 - Closed trades 4, pips 200
08/11 - Closed trades 3, pips 151
09/11 - Closed trades 6, pips 304
12/11 - Closed trades 9, pips 316
13/11 - Closed trades 0, pips 0
14/11 - Closed trades 11, pips 520
15/11 - Closed trades 8, pips 369

So, in November thus far we've banked 2272 pips over 50 closed trades. I currently have 3 trades open which are 175 pips down at present.

Kind Regards
Steve
  • #2,912
  • Nov 28, 2007 8:23am Nov 28, 2007 8:23am
Great thread! Just noticed it and have skipped to the end and it seems you may not be posting? It would be great if you could continue your journey if you could spare the time.
I'm a little Teapot short and stout.
  • #2,913
  • Nov 28, 2007 8:07pm Nov 28, 2007 8:07pm
Com'mon Steviet... take a vacation or something !!! The pip lake is running dry !!!

Quoting steviet
OK, as promised I'm posting the results for November so far below. I'm trading GBPJPY exclusively and using a position size of 0.2% of account balance.

02/11 - Closed trades 0, pips 0
05/11 - Closed trades 7, pips 312
06/11 - Closed trades 2, pips 100
07/11 - Closed trades 4, pips 200
08/11 - Closed trades 3, pips 151
09/11 - Closed trades 6, pips 304
12/11 - Closed trades 9, pips 316
13/11 - Closed trades 0, pips 0
14/11 - Closed trades 11, pips 520
15/11 - Closed trades 8, pips 369

So, in November thus far we've banked 2272 pips over 50 closed trades. I currently have 3 trades open which are 175 pips down at present.

Kind Regards
Steve
  • #2,914
  • Nov 29, 2007 2:30am Nov 29, 2007 2:30am
Your pips'll make you rich
Keep on good work steve ^_^
  • #2,915
  • Nov 29, 2007 8:14pm Nov 29, 2007 8:14pm
Steviet congratulations!!!!

seems like you are moving to the big leagues!!!


Well done.
  • #2,916
  • Nov 30, 2007 12:56am Nov 30, 2007 12:56am
Hey, my thread has come back to life

I'll be updating later with results for the whole month of November - I wonder how it's gone? Has it been a good one or has it all come crashing down....hmmmm

Kind Regards
Steve
  • #2,917
  • Nov 30, 2007 3:26pm Nov 30, 2007 3:26pm
Steve: great thread and congrats on the success. I too tried the intraday and with full-time job + family, it cuts into quality of life a bit.. i had actually planned on using a system based on parabolic SAR (very similar to yours but stops are placed where the dots are and entries dictated exclusively by the dots).. i actually decided that i like your system better. the only discretion i am putting in is that i will probably monitor lots of pairs and take positions when i think something looks like a trend, reversal, or predictable range.. i like the candlestick analysis element also..

i made my first trades today, based on your system:

SHORT EU
LONG UJ


i will probably keep trades small in # and ramp up. i have a modest amount of capital to work with exclusively for forex.. if i am successful, i will pull in more money...

thanks for taking the time to post your experiences.. it is truly inspiring.
  • #2,918
  • Nov 30, 2007 3:36pm Nov 30, 2007 3:36pm
Quoting steviet
OK, as promised I'm posting the results for November so far below. I'm trading GBPJPY exclusively and using a position size of 0.2% of account balance.

02/11 - Closed trades 0, pips 0
05/11 - Closed trades 7, pips 312
06/11 - Closed trades 2, pips 100
07/11 - Closed trades 4, pips 200
08/11 - Closed trades 3, pips 151
09/11 - Closed trades 6, pips 304
12/11 - Closed trades 9, pips 316
13/11 - Closed trades 0, pips 0
14/11 - Closed trades 11, pips 520
15/11 - Closed trades 8, pips 369

So, in November thus far we've banked 2272 pips over 50 closed trades. I currently have 3 trades open which are 175 pips down at present.

Kind Regards
Steve
OK, the remaining results for November.....

16/11 - Closed trades 7, pips 257
19/11 - Closed trades 11, pips 474
20/11 - Closed trades 9, pips 455
21/11 - Closed trades 16, pips 615
22/11 - Closed trades 9, pips 424
23/11 - Closed trades 13, pips 577
26/11 - Closed trades 13, pips 632
27/11 - Closed trades 11, pips 563
28/11 - Closed trades 9, pips 455
29/11 - Closed trades 10, pips 476
30/11 - Closed trades 8, pips 385

Total pips for November banked - 7585
No of closed trades - 165
Total drawdown at present - 2600 pips over 7 positions

Using 0.2% of account balance per position is the important thing here. This month we've made over 15% with a max drawdown of just under 5%.

Last month I used 1% of account balance and although I made 40%, drawdowns were too high and hitting a margin call was a very real possibility.

Still no stop losses hit in either October or November (nearly 600 trades) but it will happen and I'm ready for it when it does. Basically, using a s/l of 1000 pips and t/p at 50, I need to make 20 profitable trades for each loss to break even.

As we go into December, I'm carrying my largest drawdown ever at around 5%. There have only been 2 days where I've carried over more than a 2000 loss into the following day - most days its in the hundreds.

Anyway, I'm starting to ramble now

Have a great weekend all

Kind Regards
Steve
  • #2,919
  • Nov 30, 2007 6:59pm Nov 30, 2007 6:59pm
Quoting steviet
Using 0.2% of account balance per position is the important thing here. This month we've made over 15% with a max drawdown of just under 5%.Kind Regards
Steve
Hello Steve (or others),
To understand the 0.2% of account balance I ran the following numbers:

assume I want to implement Steviet system with a little much fund as possible.

Oanda told that we can use a little as $1 to buy 50 units for the margin of 1:50, 1:50 is the maximum margin available. for the simplicity I use eur/usd. 50 units is $50. %0.2 of $500 is $1. So I needed a $500 account for the system.

1 pip worthies $10 in 1 lot, 1 lot = $100,000;

1 pip worthies $0.005 in 50/100000 = 0.0005 lots.

S/L 1000 pips would cost $5, in the other word is 1% of $500 account.

S/L 1000 pips would lock your loss to 1% of a $500 account on one trade.

for 10 trades open one time, the risk would be 10% of S/L 1000pips.

But for me, if i could only open a $200 account with Oanda, the 1000 pips would be 2.5% of the account. 10 trades would be 25%. I might just trade 4 pairs one time to have the maximum drawdown of 10% of the account..


Am I correct on the numbers?

Thanks!

SZBU
  • #2,920
  • Nov 30, 2007 10:24pm Nov 30, 2007 10:24pm
Wow Steviet, just unbelievable. Been a long time since I wrote. I got the daily emails and read them all everyday then they stopped because you stopped.

Well I know you've changed your trading up since last we spoke many many months ago. Have you ever thought of doing more than one system? Meaning trade the way you started the thread as well as the new way or is it because of your limits you can't trade other systems?

Anyway, I hate looking at daily charts and seeing the long trends that you often got looking at the charts once a day. Last I remember you stopped trading the usd/cad and boom it takes off. Unbelievable.

Well just wanted to stop in and say you are doing a great job. I hope you can make your dreams come true. I am working on mine too.
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