Steviet's Live Trades!

Quoting wilhb81

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Hi Steve, still remember me? I'm wilhb81...lol

man, u have a pretty good earning result, especially at December

hope U will keep your journal update, I'm also wish U have a properous Year 2007 at forex arena...

Ciao

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Quoting howard

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Thank you Steve

Please explain your entry rules when you open your new positions at 10pm GMT tonight.

howard

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Quoting MKTrader

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Hello Steve,

Wishes all the best trades in 2007 for you.

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Quoting steviet

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Thank you very much - may the pip gods smile on you also

Kind Regards
Steve

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Quoting HonaForex

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Hi Steve............

Thanks dude for ur easy way of trading & i really liked ur tool..............keeping going........................also HAPPY TRADING YEAR..............I am sure PIP GOD will bless more.

shivaji

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Quoting steviet

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Hi Howard,

I don't have specific entry rules apart from trying to read candlestick formations from previous days as well as what I deem to be important support/resistance levels on the daily charts.

OK, I'll be entering tonight USDJPY short with s/l at around 119.18. Reason being it has exhausted at or around 119 for a few days now & the trade is pretty low risk. If I lose, fine - I'll have a better idea where it's going tomorrow.

I'll also be entering USDCAD long with s/l around 1.1573. Reason being, although it has stalled today, it breached 1.1600 properly Friday and my reading is that it will probably push higher. In saying that, so far USDCAD has been the least effective pair so far as it seems to have a mind of it's own

The other 3 open trades I'll move my stop losses further into profit as per my plan.

Hope this helps
Kind Regards
Steve

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Quoting steviet

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Just thought I better update you here. My broker has just updated charts with a 'daily bar' for today, 2nd January. It only has a few pips range and I will be keeping with the plan and placing stop losses 10 pips from the high/low of these bars.

Consequently, chances are fairly high that all 5 trades (3 existing and 2 new) will be stopped out within the next 24 hours. On the upside, it lets me lock in most of the profits on GBPUSD, EURUSD & USDCHF so we should have a sizeable gain & a great start to 2007. It will also give me a little time to see what the market really thinks about the movement today on thin volume.

More later....

Steve

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Quoting howard

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hi Steve

I thought your bars would be updated at 10 pm GMT(UK time), it is now 9:23 pm.

howard

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Quoting steviet

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Hi Howard,

Yes, the new daily bar starting 10pm tonight is when my broker officially opens. However, yesterday & today they have created bars (see attached) as a snapshot of today's market. You will see I entered GU long at 1.9539 on 27th Dec & according to my broker, today's high is 1.9733 & low 1.9729 although this is obviously not the case.

I will enter UJ short at 10pm albeit with a tighter stoploss than originally intended. Todays bar shows high of 118.84 & low 118.82 lol.

Kind Regards
Steve

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Quoting howard

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It is somehow strange, the real bar of GBP for today has a low of 1.9615 and high of 1.9740
U/J and U/CAD have small bars but not that small as yours, lol


Regards

howard

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Quoting steviet

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OK,

New trades placed and stop losses tightened.......

USDCAD long from 1.1656 (s/l 1.1632 guarantees minus 24 pips)
USDJPY short from 118.83 (s/l 118.95 guarantees minus 12 pips)
USDCHF short from 1.2265 (s/l 1.2148 guarantees plus 117 pips)
GBPUSD long from 1.9539 (s/l 1.9719 guarantees plus 180 pips)
EURUSD long from 1.3098 (s/l 1.3262 guarantees plus 164 pips)

So, worst case scenario is a profit of 425 pips on these trades - a great start to the month and year

Kind Regards
Steve

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Quoting hilmy83

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duuude..you stole my money!

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Quoting steviet

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OK,

New trades placed and stop losses tightened.......

USDCAD long from 1.1656 (s/l 1.1632 guarantees minus 24 pips)
USDJPY short from 118.83 (s/l 118.95 guarantees minus 12 pips)
USDCHF short from 1.2265 (s/l 1.2148 guarantees plus 117 pips)
GBPUSD long from 1.9539 (s/l 1.9719 guarantees plus 180 pips)
EURUSD long from 1.3098 (s/l 1.3262 guarantees plus 164 pips)

So, worst case scenario is a profit of 425 pips on these trades - a great start to the month and year

Kind Regards
Steve

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Quoting itme

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Very good performance! Excellent entry prices...and your exit strategy is awesome. It keeps you in the trend all the way and only wastes a relatively small amount.

"I trade virtually naked (apart from a couple of indicators for decoration) and look at candlestick formations and possible reversal signs.

When I open a trade, long or short, I use a stop loss and dont touch it until close of US trading each day where I will move to 10 pips below the low of the day (if long) or 10 pips above the high of the day (if short).

The trade is only closed when it hits my stop loss - I have no take profit figure. Sure, I leave pips on the table but my losses are smaller than my gains overall. Once I get stopped out I dont trade that pair until the end of the day where I assess whether this is just a retracement or a possible reversal of trend.

I need to be very very disciplined but when I catch a trend over say a week I can bag a few hundred pips."

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Quoting hilmy83

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duuude..you stole my money!

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Quoting sebytim

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Hi Steve,


I think that for GBP / USD and EUR / USD something is wrong : how can be placed a stop higher than the entry ?
Or am i missing something ?

Good hunting !!

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