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Steviet's Live Trades!

  • #301
  • Jan 7, 2007 3:59pm Jan 7, 2007 3:59pm
OK, back to business - new trade opened......

USDJPY short from 118.61 (s/l 119.17 guarantees minus 56 pips)

Have a great week all

Kind Regards
Steve
  • #302
  • Jan 8, 2007 2:53pm Jan 8, 2007 2:53pm
Hey Steviet,

Quick question for you:

Are you using any discretion at all in exiting? For instance, your s/l is 50pips away & candles show a reversal of trend. This is confirmed by the next daily but your s/l is still some distance away. Basically if you were entering fresh you would be entering the opposite direction from which your current position is going.

Would you close out & re-enter opposite? Or tighten up your S/L's...

Thanks & good luck. You are making excellent calls

Daemien
  • #303
  • Jan 8, 2007 2:59pm Jan 8, 2007 2:59pm
... but USD/JPY may have reversed .... just not sure yet. It could go either way actually. Indecisive Choppy Market today on most of the Majors! I will know for sure when my 4hr candle closes.


Quoting steviet
OK, back to business - new trade opened......

USDJPY short from 118.61 (s/l 119.17 guarantees minus 56 pips)

Have a great week all

Kind Regards
Steve
  • #304
  • Jan 8, 2007 3:01pm Jan 8, 2007 3:01pm
Quoting Daemien
Hey Steviet,

Quick question for you:

Are you using any discretion at all in exiting? For instance, your s/l is 50pips away & candles show a reversal of trend. This is confirmed by the next daily but your s/l is still some distance away. Basically if you were entering fresh you would be entering the opposite direction from which your current position is going.

Would you close out & re-enter opposite? Or tighten up your S/L's...

Thanks & good luck. You are making excellent calls

Daemien
Hi Daemien,

I don't use any discretion in exiting at all. As you say, I'll be tightening the stop losses in around an hour which should guarantee upwards of 250 pips on these trades. People may think I'm stupid to 'throw away' these extra pips or see a profitable position turn negative. I think I would be stupid to not follow what I've backtested manually and proved to be profitable.

Looking at GU & EU I wouldn't be surprised if I was stopped out tomorrow & then I would re-enter at the end of tomorrow. If tomorrow's daily bar showed confirmation of a reversal then yes, I would be probably be looking to go in the oppositie direction.

What this does do though is gives you a confirmation bar after say a doji which increases the chance of the new trade being profitable.

Patience is the key.

Kind Regards
Steve
  • #305
  • Jan 8, 2007 3:02pm Jan 8, 2007 3:02pm
Quoting ut2DaMax
... but USD/JPY may have reversed .... just not sure yet. It could go either way actually. Indecisive Choppy Market today on most of the Majors! I will know for sure when my 4hr candle closes.
I think I covered your question in my answer to Daemien

Kind Regards
Steve
  • #306
  • Jan 8, 2007 4:28pm Jan 8, 2007 4:28pm
Any 5o'clock post of trades sir?
Quoting steviet
I think I covered your question in my answer to Daemien

Kind Regards
Steve
  • #307
  • Jan 8, 2007 4:31pm Jan 8, 2007 4:31pm
Well, my son managed to completely wreck my pc just before 10pm so I have had to drive to a relative's house, download the software etc etc and managed to move my stop losses. I heard trading was stressful lol.

OK, all positions open and stop losses tightened....

USDJPY short from 118.61(s/l 118.93 guarantees minus 32pips)
USDCHF long from 1.2261 (s/l 1.2322 guarantees plus 61 pips)
GBPUSD short from 1.9513 (s/l 1.9416 guarantees plus 97 pips)
EURUSD short from 1.3168 (s/l 1.3047 guarantees plus 121 pips)
USDCAD long from 1.1656 (s/l 1.1713 guarantees plus 57 pips)

So, guaranteed pips from these trades now stand at plus 304 pips

Same time tomorrow peeps

Kind Regards
Steve
  • #308
  • Jan 8, 2007 7:58pm Jan 8, 2007 7:58pm
Hey Steve,

Another quick question if you don't mind. Are you only moving your stop to 10pips below the latest low if the candle in question went the same way as your trade? eg. You are long & today's candle went down but didn't trigger your stop. If 10pips below that candle is still tightening up your S/L, would you use that candle? or keep it where it is (which would be on the previous long candle).

Make sense?? hehehe

Take care and thanks for sharing. You have rekindled my desire to pursue price action trading!! Candles rock!

Daemien

  • #309
  • Jan 9, 2007 1:34am Jan 9, 2007 1:34am
Quoting Daemien
Hey Steve,

Another quick question if you don't mind. Are you only moving your stop to 10pips below the latest low if the candle in question went the same way as your trade? eg. You are long & today's candle went down but didn't trigger your stop. If 10pips below that candle is still tightening up your S/L, would you use that candle? or keep it where it is (which would be on the previous long candle).

Make sense?? hehehe

Take care and thanks for sharing. You have rekindled my desire to pursue price action trading!! Candles rock!

Daemien

Hi,

Hope I am understanding your question here.

If I am short, then I always keep my s/l 10 pips above the previous day's high.

If I am long, then I always keep my s/l 10 pips below the previous day's low.

The only exception is if on the previous day, the low or high comes within that 10 pip s/l and nearly stops me out. I do not move it further away - it just stays at the s/l already set the day previous.

Kind regards
Steve
  • #310
  • Jan 9, 2007 1:39am Jan 9, 2007 1:39am
OK, overnight UJ was stopped out for minus 32 pips, GU for plus 97 pips and EU for plus 121 pips.

Still have UCAD & UCHF open for a guaranteed minimum 118 pips gain.

Net pip gain for Jan: +589 pips
Cumulative since Nov 06: +1921 pips

Kind Regards
Steve
  • #311
  • Jan 9, 2007 12:31pm Jan 9, 2007 12:31pm
Thanks for your comments but this is my journal - I believe there is a GU thread
  • #312
  • Jan 9, 2007 1:19pm Jan 9, 2007 1:19pm
Quoting steviet
Thanks for your comments but this is my journal - I believe there is a GU thread
yes sorry steviet - I realized I shouldn't have written in your thread, but when he asked the question I didn't want to not answer. Sorry. this will be my last post. I'll keep reading though. Good luck.
  • #313
  • Jan 9, 2007 1:24pm Jan 9, 2007 1:24pm
Quoting llambert3
yes sorry steviet - I realized I shouldn't have written in your thread, but when he asked the question I didn't want to not answer. Sorry. this will be my last post. I'll keep reading though. Good luck.
Hehe,

No problem, just caught me on an 'off moment'

If you have any questions, please feel free to post. I just didn't want it drifting off into the ether lol.

Kind Regards
Steve
  • #314
  • Jan 9, 2007 1:38pm Jan 9, 2007 1:38pm
OK a dumb question here, if I were just starting out on this system, lets say with gbp/usd, how would I determine my best starting point, such as today if the pound finishes up would I go long?
Dave
  • #315
  • Jan 9, 2007 1:52pm Jan 9, 2007 1:52pm
Quoting forexdanofsa
OK a dumb question here, if I were just starting out on this system, lets say with gbp/usd, how would I determine my best starting point, such as today if the pound finishes up would I go long?
Dave
Hi Dave,

Today has been a real indecisive one but unless anything changes dramatically I'll probably be looking to short gu & eu. GU has found it hard to push up from yesterday and lost most of it's gains today - EU has lost all it's gains today. Unfortunately I was stopped out of them last night as they tried to push up but that's my system & it did reward me with over 200 pips on these short trades.

I trade 5 pairs because overall they are successful - Haven't had a losing month on gu yet but on 3 of my other pairs I have had a losing month.

If I was trading just the one pair I could be easy to become disillusioned. That's just my personal choice of course.

Kind Regards
Steve
  • #316
  • Jan 9, 2007 2:33pm Jan 9, 2007 2:33pm
hey steviet, is there anywhere on this forum a detailed description of your system? It seems very intersting!

thank you
  • #317
  • Jan 9, 2007 2:36pm Jan 9, 2007 2:36pm
Quoting mmnoname
hey steviet, is there anywhere on this forum a detailed description of your system? It seems very intersting!

thank you
read the whole thread, everything you need is there
Trade what you see, not what you think.
  • #318
  • Jan 9, 2007 2:57pm Jan 9, 2007 2:57pm
Quoting karmostaji
read the whole thread, everything you need is there
Thanks bro
  • #319
  • Jan 9, 2007 3:39pm Jan 9, 2007 3:39pm
Gotcha!

Thanks Steve - I'll lay off the questions now hehehe

Until I think up another :

Take care,

Daemien




Quoting steviet
Hi,

Hope I am understanding your question here.

If I am short, then I always keep my s/l 10 pips above the previous day's high.

If I am long, then I always keep my s/l 10 pips below the previous day's low.

The only exception is if on the previous day, the low or high comes within that 10 pip s/l and nearly stops me out. I do not move it further away - it just stays at the s/l already set the day previous.

Kind regards
Steve
  • #320
  • Jan 9, 2007 4:05pm Jan 9, 2007 4:05pm
OK, its that time again - 2 trades still running & stop losses moved up to bag a few more pips...

USDCHF long from 1.2261 (s/l 1.2328 guarantees plus 67 pips)
USDCAD long from 1.1656 (s/l 1.1722 guarantees plus 66 pips)

And, 3 new trades...

GBPUSD short from 1.9395 (s/l 1.9466 guarantees minus 71 pips)
USDJPY short from 119.35 (s/l 119.64 guarantees minus 29 pips)
EURUSD short from 1.2999 (s/l 1.3064 guarantees minus 65 pips)

Worst case scenario if all trades stopped out at these levels is minus 32 pips.

Happy trading all

Kind Regards
Steve
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