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Steviet's Live Trades!

  • #3,021
  • Dec 21, 2007 6:35pm Dec 21, 2007 6:35pm
Steve,
as i stated prior, i have implemented your method since 12/05/07.
till now
Acct +9.9%.
it would be +4.8% if all positions were closed.
I have 11 positions open and they are
g/j, n/u,eu/u,cad/j, eur/a.

I use OANDA with spreading 10 accounts (one primary and 9 sub), thus i can play the hedge by the account set up.

Thanks a lot.

S
Attached Image
  • #3,022
  • Dec 21, 2007 6:39pm Dec 21, 2007 6:39pm
Looking good

Do you have a limit to the number of positions open at any one time? As you know, my limit is 10 and I just trade GJ

Steve
  • #3,023
  • Dec 21, 2007 6:44pm Dec 21, 2007 6:44pm
Quoting steviet
Looking good

Do you have a limit to the number of positions open at any one time? As you know, my limit is 10 and I just trade GJ

Steve
Tried to stay 10, but times derailed.
  • #3,024
  • Dec 21, 2007 6:47pm Dec 21, 2007 6:47pm
Quoting szbu
Tried to stay 10, but times derailed.
LOL, it can be difficult - this month was the first time I had all 10 open and basically had to wait for a week until I was back in.
  • #3,025
  • Dec 21, 2007 7:07pm Dec 21, 2007 7:07pm
Hi Steve,

Good to see you go long at highs and short at lows lol, I do that too.

Question - I noticed you never use over 20% of your account (actually much less) I was wondering why you never touch the other 80%? Seems you would never come close to even using the 20% because you always have trades open in both directions and you're making thousands of pips in one direction or the other. Is it because of high margin?

Thanks - Norm
  • #3,026
  • Dec 22, 2007 7:18am Dec 22, 2007 7:18am
Quoting FXNorm
Hi Steve,

Good to see you go long at highs and short at lows lol, I do that too.

Question - I noticed you never use over 20% of your account (actually much less) I was wondering why you never touch the other 80%? Seems you would never come close to even using the 20% because you always have trades open in both directions and you're making thousands of pips in one direction or the other. Is it because of high margin?

Thanks - Norm
LOL Norm - I think we're all guilty of not so perfect entries from time to time!

OK, basically it's a money management thing. During September and October when I was playing around with this I was using 1% per trade. This was all well and good and October made over 40% with around 4000 pips.

However, there was also no limit on the number of positions held and it could quite easily have got out of control and, despite not having a losing trade during that period, a margin call on open positions was a very real possibility.

After corresponding with a potential clent, I have brought in the new money management rules to prevent excess drawdown. Ok, it limits profit to a certain extent but also reduces risk which is very important, especially for a client trading a large account.

Hope this clarifies.

Kind Regards
Steve
  • #3,027
  • Dec 22, 2007 9:16am Dec 22, 2007 9:16am
Quoting steviet
OK, basically it's a money management thing. During September and October when I was playing around with this I was using 1% per trade. This was all well and good and October made over 40% with around 4000 pips.
Steve
Steve,
for Oct's that 40% was before having the drawdown counted? or not?

Mine current as:
Acct +9.9%
if all positions were closed, acct would be +4.8%.

You see the drawdown could reduce the "gain" 50%.
my oldest one was placed on 12/10 for long E/U.

S
  • #3,028
  • Dec 22, 2007 11:42am Dec 22, 2007 11:42am
Quoting szbu
Steve,
for Oct's that 40% was before having the drawdown counted? or not?

Mine current as:
Acct +9.9%
if all positions were closed, acct would be +4.8%.

You see the drawdown could reduce the "gain" 50%.
my oldest one was placed on 12/10 for long E/U.

S
By coincidence, I actually finished October and started November with all positions cleared & therefore no drawdown at that point.

The end of November I'd banked a further 7585 pips but was carrying a drawdown of 2712 (although all but one trade from then has since been closed).

As I write, December's banked pips are 1648 with current floating drawdown at 1391 pips.

I do see your point but as long as the position sizes are small enough, it's not really relevent in my eyes until a position actually hits the stop loss. So far that hasn't happened but it will lol.

Kind Regards
Steve
  • #3,029
  • Dec 22, 2007 5:24pm Dec 22, 2007 5:24pm
Quoting steviet
OK, basically it's a money management thing. During September and October when I was playing around with this I was using 1% per trade. This was all well and good and October made over 40% with around 4000 pips.

However, there was also no limit on the number of positions held and it could quite easily have got out of control and, despite not having a losing trade during that period, a margin call on open positions was a very real possibility.
Steve,
I try to understand what you are concerned "margin call" on the account.
You have stated you had used 1% per trade of account balance with 2% S/L of account balance in September and October, and now you have been using much less percentage per trade (0.2% ?) and S/L is still 2% of account balance.
Even with 1% per trade with 2% S/L , that was only 3% of account balance. And for 10 max postions, if all were against you, then the worst only 30% of account balance. How could the margin call heppen? Do I miss something here?

S
  • #3,030
  • Dec 22, 2007 9:53pm Dec 22, 2007 9:53pm
hi steve,( or anyone )
you mentioned about providing signal service somewhere along this thread but icant find it.
Can you please show me where ?

Thanks in advance
  • #3,031
  • Dec 24, 2007 12:52am Dec 24, 2007 12:52am
Quoting szbu
Steve,
I try to understand what you are concerned "margin call" on the account.
You have stated you had used 1% per trade of account balance with 2% S/L of account balance in September and October, and now you have been using much less percentage per trade (0.2% ?) and S/L is still 2% of account balance.
Even with 1% per trade with 2% S/L , that was only 3% of account balance. And for 10 max postions, if all were against you, then the worst only 30% of account balance. How could the margin call heppen? Do I miss something here?

S
Hi S,

When I was using 1% per trade, exposure for the 1000 pip s/l was 10% of account balance, not 2%.

Steve
  • #3,032
  • Dec 24, 2007 2:18am Dec 24, 2007 2:18am
Quoting steviet
Hi S,

When I was using 1% per trade, exposure for the 1000 pip s/l was 10% of account balance, not 2%.

Steve
Thanks for clarifying.
  • #3,033
  • Dec 24, 2007 2:24am Dec 24, 2007 2:24am
Dear Steve,

Sorry to bother you but I was wondering do you have anywhere some info
on how you trade that results in this journal ?

Thank you and happy xmas,

Peter
  • #3,034
  • Dec 24, 2007 2:31am Dec 24, 2007 2:31am
I wish to start forward test this method in the begining of 2008.
I want to trade only the gbp-jpy pair, like you, steve.
Should I start with only one trade on the first day?
When whould I open the second trade (suppose I want to open MAX 10 trades)? Is it only on the second day - if the first trade is in loss of 1pip or more in the end of the first day? becuase if the 1st trade was in profit of less than 50 pips I should close it in the end of the day. And if it was in profit of 50 pips, I should have closed it immediately (and then open a new trade or wait to the day after?)

And one more question, maybe I missed it between the lines: How do you determine when to go long and when short?

Thanks.
  • #3,035
  • Dec 25, 2007 5:57am Dec 25, 2007 5:57am
Hi Steve,

Marry Xmas and have a successful New Year!!!

George
  • #3,036
  • Dec 25, 2007 3:17pm Dec 25, 2007 3:17pm
Quoting GeorgeW
Hi Steve,

Marry Xmas and have a successful New Year!!!

George
Same to you George

I'll be back in a day or two to answer any questions - I'm 40 today & just kinda getting used to it & drowning my sorrows hehe

Kind Regards
Steve
  • #3,037
  • Dec 25, 2007 4:27pm Dec 25, 2007 4:27pm
Quoting steviet
Same to you George

I'll be back in a day or two to answer any questions - I'm 40 today & just kinda getting used to it & drowning my sorrows hehe

Kind Regards
Steve
Well, happy birthday Steve! Hope your also having a happy holiday and good luck in the year ahead!
I dream, therefore I become.
  • #3,038
  • Dec 26, 2007 2:52am Dec 26, 2007 2:52am
I still don't understand the money management issue.
Let's say I have an account with 1000$, and I trade only 1 pair.
How should I devide my trades/risks?

Please send any answer with figures/numbers so i can understand it easily.

And one more thing:
Steve, when did you decide to change your strategy about the SL from 10pips below of the previous day's low (say in long) to 1000 pips?

Thanks.
  • #3,039
  • Edited 6:07am Dec 26, 2007 6:01am | Edited 6:07am
Quoting smilee89
I still don't understand the money management issue.
Let's say I have an account with 1000$, and I trade only 1 pair.
How should I devide my trades/risks?

Please send any answer with figures/numbers so i can understand it easily.

And one more thing:
Steve, when did you decide to change your strategy about the SL from 10pips below of the previous day's low (say in long) to 1000 pips?

Thanks.
Well, here's my way:
First, decide how much of your capital you're willing to lose. (% wise).
Steve use 1%, so 1% of $1000 is = $10/trade

Next you have a micro lot that will cost you 0.10/pip on the pair (example)
so the maximum pips you can lose per trade is $10/0.10 = 100 pips
You can only trade if the stop loss is 100 pips or less. More than that, you're breaking MM rule. If your trade has a 50 pips stop loss, then you place 2 micro lots trades with 50 pips SL.

Hope this helps.

Rick
I'm a disciplined trader and that's the only way I trade.
  • #3,040
  • Dec 26, 2007 8:27am Dec 26, 2007 8:27am
Quoting drick008
Well, here's my way:
First, decide how much of your capital you're willing to lose. (% wise).
Steve use 1%, so 1% of $1000 is = $10/trade

Next you have a micro lot that will cost you 0.10/pip on the pair (example)
so the maximum pips you can lose per trade is $10/0.10 = 100 pips
You can only trade if the stop loss is 100 pips or less. More than that, you're breaking MM rule. If your trade has a 50 pips stop loss, then you place 2 micro lots trades with 50 pips SL.

Hope this helps.

Rick
Well, that is not Steve's Way.
He wants S/L =1000 pips, which IS 2% of Acct Balance.
Assume you have $1000 balance,
2% would be $200,
$200/1000 = $0.2/pips

we know lot size 10,000 units is $1 (roughly for g/j) for 1 pip.
You need to buy 10000*0.2 = 2000 units for one trade.
You know the size of lot you can trade. the next thing is to look for who offer that.
I use OANDA and use 10 accounts to accommodate the method since OANDA does not allow the hedge within the account.

S
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