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Steviet's Live Trades!

  • #3,301
  • Mar 23, 2008 2:33pm Mar 23, 2008 2:33pm
HI Game,

His current method is summarized in post 3052 and a few pages thereafter.

One pair only and no trailing stop. Hope this helps.

RS

Quoting Game
Hi

Steviet

I am very interested in your system, as its gonna take me a great deal of time to read through the thread.

I would appreciate it if you could give an update on your trading

what pairs you trade
stop loss
trailing profit
your money mgt
I am uk based and in fulltime employment, this would help me trade while working

I Have had a read through your thread you have changed you strategy please can you advise what it is ie stoploss now 1000pips before it was 10 pips ? what time frame you look at for entries

Thanks

Game
  • #3,302
  • Mar 24, 2008 5:49am Mar 24, 2008 5:49am
Hi sm, woulld you be kind to share your version of the modified dashboard you made? Thank' sin advance, PC
Quoting smjones
While i like my little agragate trend, it is too short term for this. I wrote a Dashboard indicator using Lucidlamp's original ma Dashboard as a guide, but then changed the logic, so it follows the idea of Ed Ponsi and others that a 10day ema must be above a 20 dayema, which must be above a 50 day ema, which must be above a 200 day ema, for longs only. Opposite for shorts only.

It is nothing special and of course MAs lag and all that. No panacea, just a quick way to keep my entrys on the correct side of a major trend.
Less is more...
  • #3,303
  • Mar 25, 2008 8:15am Mar 25, 2008 8:15am
I used to follow up your journal till page 180 or something
but I dropped but now I am trying to catch back
I trade stocks in the Egyptian market since 5 months
but I have dreaming from two years to trade forex but then
I traded stocks but I have seen that the forex have more potential
than stock and the technical analysis is more applicable to it
so I wanted to ask you about a good broker to trade with
(from your vast experience) knowing that I live in Egypt
(all my communication will be through mail and phone) so I need a good
broker not a bad one (a one that to fight with him at transactions , commissions and other staff and that's duo to the fact that i work full time like you)
many thanks in advance
  • #3,304
  • Mar 25, 2008 5:07pm Mar 25, 2008 5:07pm
Fxegypt
or
Fxpro

Do your homework
  • #3,305
  • Mar 26, 2008 9:01am Mar 26, 2008 9:01am
Hi there
i am new to this forum. i was reading through some of the old system and it seems that a trend was difficult to define with these pairs. i was just wondering and an idea I had, what if you used a 5 period sma. if the candle closed above it you would enter long, and if it closed below it you would enter a short. Same stop loss theory of 10 pips of previous hi or low. let me know what you think. not trying to change your ways just a thought to get some opinions.

happy trading and good luck to us all.

Ed
"Do or do not, there is no try"
  • #3,306
  • Mar 28, 2008 2:08pm Mar 28, 2008 2:08pm
Hi there peeps

OK, from now on I'll just be posting my results monthly on the account I manage.

Jan 15th Start Balance $103529
Feb 29th Balance $107374 (no positions open)
March 28th Balance $121148 (no positions open)

March has been a great month for me with an increase in account balance of over $13000. It will be the first time that my commission exceeds what I'll take home from my full-time job

At last I'm able to make some inroads into paying off debts etc and I can see a light at the end of the tunnel. We're also taking a week off on holiday mid April and it will be the first time for as long as I can remember that we'll be able to do things as a family and not worry where the money is coming from!!!

Kind Regards
Steve
  • #3,307
  • Mar 28, 2008 2:18pm Mar 28, 2008 2:18pm
Hey Steve,
Thats fantastic - Just to let you know I'm pig sick.
You lucky so and so.
Sorry delete the lucky - I know theres no luck involved.
Well done.
Stew.
  • #3,308
  • Mar 28, 2008 3:28pm Mar 28, 2008 3:28pm
Thanks Stew

I was lucky to find an investor that's for sure and hopefully this will be the start of things to come...

Kind regards
steve
Quoting stewrigh
Hey Steve,
Thats fantastic - Just to let you know I'm pig sick.
You lucky so and so.
Sorry delete the lucky - I know theres no luck involved.
Well done.
Stew.
  • #3,309
  • Edited 4:47pm Mar 28, 2008 4:29pm | Edited 4:47pm
Hi Steviet,

Am following your unique concept for several weeks now. The hardest part actually, for me at least, is whether to take longer TF ups/downs such as daily, h4 or go lower to H1, m30, to accumulate positive gains over a period of time. For example, if daily I can take advantage of a large leg, while H1 I can take zigzag legs thus should be able to accumulate more, but in actual trade latter is harder. Most important of all is not to take trades that hang around at the end of the range. Also from my personality I tend to go with multiple pairs.

50/1000 with GJ is something you settled down and most comfortable to you.

I am still at a testing stage with a small live account to find my "optimal" way, within the overall concept you have so kindly disclosed.

Any advice you may drop would be high appreciated - we don't see your posts in this regard recently...

Cheers, RS
  • #3,310
  • Mar 30, 2008 12:12pm Mar 30, 2008 12:12pm
Quoting steviet
Thanks Stew

I was lucky to find an investor that's for sure and hopefully this will be the start of things to come...

Kind regards
steve
Steve there was no luck involved, I followed your post from day one you had some good times and some really bad times, just go back about a year. Your spirit and positive outlook always stayed the same (so it seems). So what now happened was because of hard work and a very good outlook. what a difference a year makes.
Regards
carlhttp://www.forexfactory.com/images/icons/icon7.gif
  • #3,311
  • Mar 30, 2008 1:39pm Mar 30, 2008 1:39pm
Quoting boomer1
Steve there was no luck involved, I followed your post from day one you had some good times and some really bad times, just go back about a year. Your spirit and positive outlook always stayed the same (so it seems). So what now happened was because of hard work and a very good outlook. what a difference a year makes.
Regards
carlhttp://www.forexfactory.com/images/icons/icon7.gif

DITTO
  • #3,312
  • Apr 2, 2008 10:11pm Apr 2, 2008 10:11pm
Steviet,

For the sake of "benchmarking", could you please also post some more data, like:
the total trades each month, the total of SL got hit each month, and the max drawdown happened each month?

Thankyou mate,
--
Sang Dukun

Quoting steviet

...
Jan 15th Start Balance $103529
Feb 29th Balance $107374 (no positions open)
March 28th Balance $121148 (no positions open)
Steve
  • #3,313
  • Apr 3, 2008 2:55pm Apr 3, 2008 2:55pm
OK,

Jan 15th to Feb 29th total trades 115, no stop losses hit.
March total trades 83, no stop losses hit.

What I've done on this account is net off my positions at certain times - once on Feb 29th & twice more during March. This basically means that I can start off from scratch again at any given time and provides a further edge.

Max drawdown is difficult to judge as I just keep compounding. I guess it's been around the 8% mark at worst. Balance has been as high as $122k (after unrealised losses) and is currently just over $120k - not the greatest start to the month but that's not a great issue. Yesterday was the first day I hadn't increased my account value for 10 staright days.

I just keep on doing what I do and it works for me

Kind Regards
Steve

Quoting DukunFX
Steviet,

For the sake of "benchmarking", could you please also post some more data, like:
the total trades each month, the total of SL got hit each month, and the max drawdown happened each month?

Thankyou mate,
--
Sang Dukun
  • #3,314
  • Apr 4, 2008 10:30am Apr 4, 2008 10:30am
Thanks Steve,

I know that you increase the lot size as the balance increased.
However, I still amazed with some data:
- in Jan 15th to Feb 29th the account increased 3.7% by 115 trades
- but in March, the account increased 12.8% by 83 trades only.
I guess it's just another discretionary in your lot size strategy...:-)

I'm testing live a similar system to yours (in term of wide SL and simultaneous long/short).
However, my system is also having some bit of grid/straddle, momentum, pos adjustment, etc. which all discretionary in its recipe, ha...ha...ha...
Although seems promising, it's still too early to judge its performance as the system has just been running for 3 weeks now.
(it just hit one of its SL yesterday)

I'm happy to see that your system working well with you.
Looking forward for your updates.

Cheers,
--
Sang Dukun


Quoting steviet
OK,

Jan 15th to Feb 29th total trades 115, no stop losses hit.
March total trades 83, no stop losses hit.

What I've done on this account is net off my positions at certain times - once on Feb 29th & twice more during March. This basically means that I can start off from scratch again at any given time and provides a further edge.

Max drawdown is difficult to judge as I just keep compounding. I guess it's been around the 8% mark at worst. Balance has been as high as $122k (after unrealised losses) and is currently just over $120k - not the greatest start to the month but that's not a great issue. Yesterday was the first day I hadn't increased my account value for 10 staright days.

I just keep on doing what I do and it works for me

Kind Regards
Steve
  • #3,315
  • Apr 4, 2008 3:43pm Apr 4, 2008 3:43pm
No problem Sang,

I'll try and explain and today was a very good example so I'll use that.

It's not necessarily the amount of trades closed, rather how smart you can be with the hedges. As I get more and more used to the method it becomes easier.

OK, at New York close last night my account balance (including unrealised drawdown) stood at around $119,900. I had the following trades in play at that point.

Short 201.65
Short 201.05
Short 204.10
Long 204.27.

So, with 4 positions on I was short biased. However, during Asia (whilst I sleep) the price drifted up and by the time I had to leave for work the price was around the 204.50 area.

During the morning my long hit take profit and as I got back home for lunch I was able to place another long to cover the shorts at 204.49, just prior to NFP. I was back at work by the time the news hit but was pretty confident that 205 would be hard to crack. That first bar following the news, I hit t/p on my long (balance would've been around $118,800 at that point) and also t/p hit on my highest short from 204.10 at 203.60.

After a retrace the bears took control and I was effectively two positions short on the run down.

Since coming back home I've placed a long at 203.01 (which missed t/p by 1 pip on the retrace) and a further long at 202.47.

So, the end of the day I still have 2 shorts at 201.65 & 201.15 plus the 2 new longs. I'm basically square/flat the market and my current account balance (including drawdowns) is just over $123,000.

I've only taken 150 pips in actual closed trades today which works out at just over $1,000, however by hedging I've increased the account balance by over $3,000 in 24 hours.

Trade well my friend

Kind Regards
Steve

Quoting DukunFX
Thanks Steve,

I know that you increase the lot size as the balance increased.
However, I still amazed with some data:
- in Jan 15th to Feb 29th the account increased 3.7% by 115 trades
- but in March, the account increased 12.8% by 83 trades only.
I guess it's just another discretionary in your lot size strategy...:-)

I'm testing live a similar system to yours (in term of wide SL and simultaneous long/short).
However, my system is also having some bit of grid/straddle, momentum, pos adjustment, etc. which all discretionary in its recipe, ha...ha...ha...
Although seems promising, it's still too early to judge its performance as the system has just been running for 3 weeks now.
(it just hit one of its SL yesterday)

I'm happy to see that your system working well with you.
Looking forward for your updates.

Cheers,
--
Sang Dukun
  • #3,316
  • Apr 4, 2008 5:47pm Apr 4, 2008 5:47pm
Quoting steviet
March has been a great month for me with an increase in account balance of over $13000. It will be the first time that my commission exceeds what I'll take home from my full-time job

At last I'm able to make some inroads into paying off debts etc and I can see a light at the end of the tunnel. We're also taking a week off on holiday mid April and it will be the first time for as long as I can remember that we'll be able to do things as a family and not worry where the money is coming from!!!

Kind Regards
Steve
Hey Stevie,

I'm very happy for you that you've begun arriving(nice way to put it, huh) at that place we all want to go(or maybe I'm just speaking for myself).
The end of worries.
I hope that you continue to work your own thing successfully, despite all the people who doubted individual style could supercede stereotypical assumptions and prejudice(read: you proved me among many wrong, and thankfully so!).
It personally showed me that a) nothing's impossible b) there's no "prescription" to neither life nor trading and that c) persistence pays.

..truth be told I'd already figured those 3 out before, but it's always nice to have things serve as a constant reminder of these as we as humans tend to be so incredibly forgetful, sloppy and at times ungrateful towards those things given and presented to us.

Go well and I hope you continue to move forward from this point on

Seeking
Trust price. Know yourself.
  • #3,317
  • Apr 4, 2008 7:38pm Apr 4, 2008 7:38pm
Quoting steviet
I've only taken 150 pips in actual closed trades today which works out at just over $1,000, however by hedging I've increased the account balance by over $3,000 in 24 hours.
Steviet i think you answered it before but this post made me a little confuse if you changed your method so id like to be sure: when you said that you hedged you are saying that you entered with bigger lots, lets say: you were short with 3 positions of 0.01 lots and then gone long with 1 position of 0.03 or all trades still are aways 2%?

thanks in advance and sorry for my poor english.
  • #3,318
  • Apr 7, 2008 4:50pm Apr 7, 2008 4:50pm
Hey there Mr Light

I think you pretty much summed it up there with your abc's

The only point I would disagree with is that I've 'arrived'. The moment I think that will be where complacency could easily slip in - in my eyes I'm still a newbie and always will be. Maybe a more knowledgable newbie than when I started but still learning all the time.

Thanks for your kind words and great to see you popping in!

Kind Regards
Steve
Quoting SeekingLight
Hey Stevie,

I'm very happy for you that you've begun arriving(nice way to put it, huh) at that place we all want to go(or maybe I'm just speaking for myself).
The end of worries.
I hope that you continue to work your own thing successfully, despite all the people who doubted individual style could supercede stereotypical assumptions and prejudice(read: you proved me among many wrong, and thankfully so!).
It personally showed me that a) nothing's impossible b) there's no "prescription" to neither life nor trading and that c) persistence pays.

..truth be told I'd already figured those 3 out before, but it's always nice to have things serve as a constant reminder of these as we as humans tend to be so incredibly forgetful, sloppy and at times ungrateful towards those things given and presented to us.

Go well and I hope you continue to move forward from this point on

Seeking
  • #3,319
  • Edited 4:58pm Apr 7, 2008 4:55pm | Edited 4:58pm
Your English is excellent

OK, all lots on my own live account equate to 2% and that has not changed.

On the managed account we started off with lot size at 50,000 per position (max 10 positions) and have since increased to 75,000 during March.

Hope this helps.

Kind Regards
Steve
Quoting giraia_br
Steviet i think you answered it before but this post made me a little confuse if you changed your method so id like to be sure: when you said that you hedged you are saying that you entered with bigger lots, lets say: you were short with 3 positions of 0.01 lots and then gone long with 1 position of 0.03 or all trades still are aways 2%?

thanks in advance and sorry for my poor english.
  • #3,320
  • Apr 8, 2008 10:42am Apr 8, 2008 10:42am
Quoting steviet
Your English is excellent

OK, all lots on my own live account equate to 2% and that has not changed.

On the managed account we started off with lot size at 50,000 per position (max 10 positions) and have since increased to 75,000 during March.

Hope this helps.

Kind Regards
Steve
many thanks for the answer and for the commendation (but i needed to found this word using a online translator).

one question about the price action. Do you use the j16 formations on dayli charts to have the bias and then took retraces and breakouts on 5 min or do you really use IBs, DBHLC etc on 5 min charts?

and the next question is difficult to ask so problably answering is more difficult, but i will try: how do you deal with overtrade X high probability trades? Again, i know that this is very discretionary but i like to see some comments on it if possible.

thanks again Steviet and sorry to ask so many questions.
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