Steviet's Live Trades!

Quoting smjones

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Hi, I am posting this once a month. I don't want to cluter Steve's thread with my stuff. Probably around the 20th or so.

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Quoting bpatto

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I have been trialling Steve's methods since 18th December with good results. I have tweaked the strategy here and there to suit my trading style and timeframes.

I trade the Asian and London sessions, never the US session and usually only 3 weeks a month. This strategy works, only concern I have is the odd trade that gets stranded at the edge of the trading range, I am well on the way to alleviating this issue using a dynamic weekly range. My aim on a trade is to have accurate entries, grab my 50 pips and look for another entry, maximum 5 trades of either 'Buy' or 'Sell', as is Steve's philosophy.

I am posting the results as profit in pips, not account % increase, due to the fact that I weight my trades depending on a number of factors. So a trade is usually between 1 and 8 lots depending on signal strength, volatility, market conditions and relevance of price in my dynamic range. This strategy will complicate the posted results, so I left them out. I haven't included swap interest either, this could get expensive as 70% of trades have been 'Sells', of which 20% were held past the daily rollover.

Results:

December
Trades: 12
Pips: 284
Comments: This was for 4 days(18-21st), all trades closed. Trades were all 'Sells'.

January
Trades: 59
Pips: 1874
Comments: This included 1 trade hitting it's 1000 pip stop, looking back, this trade didn't fit into my rules and as a result it was stranded at the edge of the range. Lesson 1, follow the rules.

February
Trades: 37
Pips: 1978
Comments: I only traded 3 days a week for the month due to other commitments, still a good month.

To improve results I am going to look at trading the US session, perhaps sharing the trading between 2 people. I think 3000 pips a month is attainable using 2% risk per trade.

Thanks again Steve for your abstract concept.

Cheers,

Brett.

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Quoting Isotonic

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ok stevie, i cheated here and ignored one of your rules - namely the 1000 stop loss, just to see if the market would come back! of course if it didn't i'd be stuck but right now, with no other orders this week, my equity is about $350 shy of break-even.

i have a few ideas of customising your system for my own use, but it will take a bit more work. right now, with your discretionary trading, you DO have an edge - pick any of my expectancy calculations you like - but i reckon if you try to formulate your trading and repeat then you should make on average 22 pips per trade. once you get 500, 750 and then 1000 trades under your belt - recalculate as per my suggestions in earlier posts to get a more accurate long-term number.

so here is the statement, make of it what you will. and with that i shall bow out completely from FF. i'm glad i made my last post in your thread - your journal and progress is what kept my interest here for perhaps a year longer than i was expecting (as well as the mod stuff). i will try to keep contact with all the good friends i've made here,but for me it's time to move on and see where life takes me next (along with my trading i hope)...thanks everybody and good trading to you all!!!

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Quoting Isotonic

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ok stevie, i cheated here and ignored one of your rules - namely the 1000 stop loss, just to see if the market would come back! of course if it didn't i'd be stuck but right now, with no other orders this week, my equity is about $350 shy of break-even.

i have a few ideas of customising your system for my own use, but it will take a bit more work. right now, with your discretionary trading, you DO have an edge - pick any of my expectancy calculations you like : - but i reckon if you try to formulate your trading and repeat then you should make on average 22 pips per trade. once you get 500, 750 and then 1000 trades under your belt - recalculate as per my suggestions in earlier posts to get a more accurate long-term number.

so here is the statement, make of it what you will. and with that i shall bow out completely from FF. i'm glad i made my last post in your thread - your journal and progress is what kept my interest here for perhaps a year longer than i was expecting (as well as the mod stuff). i will try to keep contact with all the good friends i've made here,but for me it's time to move on and see where life takes me next (along with my trading i hope)...thanks everybody and good trading to you all!!!

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Quoting sstef

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hello everybody,
i discovered this thread, it seems that Steviet has very good results

i don't find any rule of your Strategy, where can i find them ?
if you want, i have time and can make an EA, and backtest/optimize the stratégy

bye

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Quoting stewrigh

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Hi all,
Don't want to distract anyone.
But can I ask a, probably, dumb question.
I've been following the thread for a while and I think I understand the strategy, although I think I need to start from the beginning again to fully grasp it.
My question though is.
Doesn't the interest and carry cost skew the results.
My carry costs have on occasion wiped out any profit on the trade.
Maybe I need a new broker.
Apologies if this is already answered earlier in the thread - just curious.
Oh and well done Steve sounds like you cracked it.
Regards

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Quoting GeorgeW

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Hi Steve,

Yup, been watching...
You know, honestly, I though "this guy gonna get burnt when he hits few 1000 pip SLs"...
Sorry, you know, it's just natural to think this way after reading some trend following books and especially studying Risk/Reward, etc.

Oh yea of little faith . It's true that it sort of flies in the face of most things you read but it was just something I came up with and thought, hey this could work as long as you are disciplined enough to stick to the rules. Since that time Iso introduced me to Bird Watching in Lion Country and there are a fair few similarities to the way I trade. Remember also that 1000 pips to me percntage wise maybe 50 pips to someone else trading 'the normal way'.

So far you're doing just
GRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRREAT!!!!!!!!!!!!!!!!!!!!!

I'm so happy for you, really!!!

Why thankyou!

As I understand you're not concerned about costs of carry, which are usually high when shorting GJ.

Right, it's just a cost of doing business for me.

But now, Steve, I do have a problem. I'm kind of visual guy. And since you didn't post any charts on how you are setting such ranges, I don't really think I truly understand that.
For instance, how do you determine whether the trend has changed from down to up or v/v?

I know you've tried to explain that it's quite personal view, but do you think there's any way of showing it on chart?

OK, the rules actually tell me that the trend has possibly changed. Since the beginning of the year GBPJPY has ranged between 204 area and 214 area - you can see similar ranges looking back on the daily charts over the past year.

By restricting the maximum positions to 5 held in one direction, once I've reached that figure, I can only make pips in the opposite direction. In other words the method is telling me that the overall trend may be changing. Of course, many times it will come back again but it does restrict the possible losses when we have a breakout of range.

I still work full-time so I miss many many opportunities but sometimes it has its benefits - NFP Friday for example was a good one to just let the system take care of itself. Took out my 2 longs and then retraced back nearly 200 pips and be in striking range of a couple of shorts that are still on.

It really isn't rocket science and I think sometimes we try to be too clever and want to be right all the time. I've been a victim of this myself - I don't think I've got it all worked out by any means and I think it is good to remain humble & keep your feet on the ground. The market is always right and will turn around and bite on occasion just to remind us who is boss lol.

Best, best Regards Steve,

George

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Quoting alpiner

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steve,


you said you dont earn or pay interest at marketiva. how that? i looked on their site and found this:
http://www.marketiva.com/index.ncre?...night-interest

or did i look at the wrong broker?

thanks

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Quoting steviet

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Yup,

Whether they used to I don't know but they haven't since I opened my account there 18 months ago. I'm aware of the link but if you check with the support team they will confirm that no interest is earned or payable.

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Quoting karmostaji

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Are you still with that broker Steviet? Man, you need to upgrade lol

It's great to see you being successful (knocking on wood), my mentor

I'm right behind you Steviet, I'll be managing an account for my first client very soon, any tips?

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Quoting steviet

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LOL,

Only for my little practice account. The managed account is with SaxoBank.

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