regards carl
- #2,983
- Dec 13, 2007 2:52pm Dec 13, 2007 2:52pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey steve!
Just wanted to say thanks for all the information you're providing. I'm sure many of the guy's/gal's following you on a daily basis are gaining lots of valuable information that we don't have to discover thru trial and error on our own, whew! hate making my own errors.
Keep up the good work, we all wish you continued success. The more successful you are the more we learn without having to try it all on our
own and that's worth its weight in gold, literally.
Thanks Again- Norm
- #2,984
- Dec 13, 2007 2:54pm Dec 13, 2007 2:54pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hello Steviet,
Have been quietly reading your journal since you started last November. I have learnt a lot the past year from reading your journal and other threads at the factory. I would like to continue following your trades and progress on your trading method. Can you send me the link to your signal service?
Congrats on your success and finding a method that works for you
Kevin
I've had a load of PM's about this too - I'll get back to people on this in time. Patience is a virtue
:
- #2,985
- Dec 13, 2007 2:57pm Dec 13, 2007 2:57pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi steve i'm the guy that was a permanet fixture on you thread since dec06
I eventually went live 3 months ago mostly geppy, it has been good to me especially the last week. if it wasnt for you i would have still been on a demo acc. i'm going away for three week most prob get withdrawal symtems not trading or reading, my wive will kill me with my laptop if i take it with.
Im rambling. Steve Ijust want to wish you and your family everything of the best for the holiday season hopefully next year this time your perm job will be trading . Also have a nice birthday on chrismas day.
I really owe you a lot.http://www.forexfactory.com/images/icons/icon7.gif
regards
carl
That's great news! It sounds like you may have stolen some of my pips this week
lol.You have a relaxing break away from the screens and come back refreshed in the New Year. Happy Christmas to you
- #2,986
- Edited 4:01pm Dec 13, 2007 3:17pm | Edited 4:01pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Well, I've not been around much since Tuesday and things really have conspired against me since I last posted.
Tuesday evening after the fed interest rate announcement, the price was moving back nicely towards some shorts I held since the end of November. I don't think I would have been alone in expecting a retrace, consolidation and then a push down towards the 220 lows we have seen recently.
I was due to be out all day Wednesday at meetings (yawn) and as a result I placed further shorts up to the 227 area during the Asian session and as London opened. This brought my position count to 10 and therefore the maximum positions I'll hold at any time. Call it a gross error, misjudgement or whatever but the announcement that the powers that be were to step in and help those lovely bankers was not expected and rather than 220 we saw 230.
We've seen a slight consolidation today but with the price now at around 229 as I write, we're back at the top end of the recent range. Until I can get any of my positions closed either by t/p or s/l hit, I just sit and wait.
222.82 is my lowest short so if it does break out of this recent range, I could well be taking my first loser since mid September. Remember each trade risks only 2% so it is by no means a disaster but it's something new for me to go through.
I'm not sure whether the steps taken by the powers that be will have any long term effects or not. The housing market figures in the UK are becoming increasingly negative & I wouldn't be surprised if we see another big drop next week. December certainly has been volatile so far and I don't see it being an different whilst the markets are so uncertain. That and the lower volume as the bigger traders pack up their bags for the festive season suggests we're in for more fun before the month is out.
December so far I've managed to secure 1239 pips but open positions are a few thousand down - I'll need to get my calculator out later. So, as I write things are not looking so rosy but we're looking long term here, not just a few poor days.
Kind Regards
Steve
Tuesday evening after the fed interest rate announcement, the price was moving back nicely towards some shorts I held since the end of November. I don't think I would have been alone in expecting a retrace, consolidation and then a push down towards the 220 lows we have seen recently.
I was due to be out all day Wednesday at meetings (yawn) and as a result I placed further shorts up to the 227 area during the Asian session and as London opened. This brought my position count to 10 and therefore the maximum positions I'll hold at any time. Call it a gross error, misjudgement or whatever but the announcement that the powers that be were to step in and help those lovely bankers was not expected and rather than 220 we saw 230.
We've seen a slight consolidation today but with the price now at around 229 as I write, we're back at the top end of the recent range. Until I can get any of my positions closed either by t/p or s/l hit, I just sit and wait.
222.82 is my lowest short so if it does break out of this recent range, I could well be taking my first loser since mid September. Remember each trade risks only 2% so it is by no means a disaster but it's something new for me to go through.
I'm not sure whether the steps taken by the powers that be will have any long term effects or not. The housing market figures in the UK are becoming increasingly negative & I wouldn't be surprised if we see another big drop next week. December certainly has been volatile so far and I don't see it being an different whilst the markets are so uncertain. That and the lower volume as the bigger traders pack up their bags for the festive season suggests we're in for more fun before the month is out.
December so far I've managed to secure 1239 pips but open positions are a few thousand down - I'll need to get my calculator out later
. So, as I write things are not looking so rosy but we're looking long term here, not just a few poor days.Kind Regards
Steve
- #2,987
- Dec 13, 2007 3:22pm Dec 13, 2007 3:22pm
Carl,
That's great news! It sounds like you may have stolen some of my pips this week
You have a relaxing break away from the screens and come back refreshed in the New Year. Happy Christmas to you
Regards
carl
- #2,988
- Dec 13, 2007 4:02pm Dec 13, 2007 4:02pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Steve I had very good teachers You,Karmo,M2b,auslanco etc. it is nice to know i took some of youhttp://www.forexfactory.com/images/icons/icon10.gif joking
Regards
carl
- #2,989
- Edited 4:37pm Dec 13, 2007 4:12pm | Edited 4:37pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Thanks for your PM's concerning the signal service. I'm still undecided whether to take it further as I have a particular offer on the table that would have to take precidence.
One thing that really concerns me is what I have seen so far from people trading it. Almost every single person has either
1) Taken position sizes far in excess of that suggested - OK, a few good days and their account size rockets. A few bad days and there is no account to trade
. One extreme eample of this is a guy trading an account with 0.1 lots with a balance of just over $350!!!! I suggest and account size of $50,000 to trade 0.1 lots per position.
2) Decided that I didn't know what I was doing and closing losing trades prematurely. Some have lost thousands and thousands of pips when every single trade so far has eventually hit t/p.
Yes I know it's their fault but I still feel some personal responsibility for them.
The other thing to note is that if people had started taking my signals earlier this week they'd have thought I was a right numpty.
Kind Regards
Steve
One thing that really concerns me is what I have seen so far from people trading it. Almost every single person has either
1) Taken position sizes far in excess of that suggested - OK, a few good days and their account size rockets. A few bad days and there is no account to trade
. One extreme eample of this is a guy trading an account with 0.1 lots with a balance of just over $350!!!! I suggest and account size of $50,000 to trade 0.1 lots per position.2) Decided that I didn't know what I was doing and closing losing trades prematurely. Some have lost thousands and thousands of pips when every single trade so far has eventually hit t/p.
Yes I know it's their fault but I still feel some personal responsibility for them.
The other thing to note is that if people had started taking my signals earlier this week they'd have thought I was a right numpty.
Kind Regards
Steve
OK, the remaining results for November.....
....
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
Kind Regards
Steve
2% is 1000 pips, 7585 pips is 7585/1000*2%= 15%
if all the open positions were closed, then you would have return
as (7585-2600)/1000*2%= 10%
correct?
thanks.
- #2,994
- Dec 13, 2007 4:58pm Dec 13, 2007 4:58pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Steve,
2% is 1000 pips, 7585 pips is 7585/1000*2%= 15%
if all the open positions were closed, then you would have return
as (7585-2600)/1000*2%= 10%
correct?
thanks.
- #2,995
- Dec 13, 2007 5:00pm Dec 13, 2007 5:00pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
huh? ORAND does.
My broker doesn't charge interest or pay interest on trades held.
Who or what is ORAND?
My broker doesn't charge interest or pay interest on trades held.
- #3,000
- Dec 13, 2007 5:33pm Dec 13, 2007 5:33pm
- Joined Mar 2006 | Status: THANK YOU MERLIN,TWEE and FF Team | 4,603 Posts
