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Steviet's Live Trades!

  • #501
  • Jan 19, 2007 3:02pm Jan 19, 2007 3:02pm
Hi Steve,
I've been doing your system this month and I did something different last week. As my position goes my direction, I added my position depending on the strenght of the trend. Last week I have long positions on GBP/USD and GBP/JPY. Like what you do, I adjust my stop loss according to technicals. Sometimes my stop loss on GBP/USD is 200 pips due to volatility during a big news. Last night I adjusted my Stop Loss GBP/USD to 1.9660 and GBP/JPY 238.55 Here is the result:

GBP/JPY If my stop loss is hit at 238.55 Then:
2 lots at 232.36 = 1238 Pips (619 x 2)
1 lot at 234.05 = 450 Pips
1 lot at 235.22 = 333 Pips
1 lot at 236.42 = 213 Pips
1 lot at 237.32 = 123 Pips
Total = 3038 Pips

GBP/USD If my stop loss is hit at 1.9660
2 lots at 1.9474 = 372 Pips (186 x 2)
1 lot at 1.9566 = 94 Pips
1 lot at 1.9641 = 19 Pips
1 lot at 1.9677 = -17 Pips
Total = 468 Pips

Are you doing this too?
Regards,
Rick
I'm a disciplined trader and that's the only way I trade.
  • #502
  • Jan 19, 2007 3:29pm Jan 19, 2007 3:29pm
Quoting drick008
Hi Steve,
I've been doing your system this month and I did something different last week. As my position goes my direction, I added my position depending on the strenght of the trend. Last week I have long positions on GBP/USD and GBP/JPY. Like what you do, I adjust my stop loss according to technicals. Sometimes my stop loss on GBP/USD is 200 pips due to volatility during a big news. Last night I adjusted my Stop Loss GBP/USD to 1.9660 and GBP/JPY 238.55 Here is the result:

GBP/JPY If my stop loss is hit at 238.55 Then:
2 lots at 232.36 = 1238 Pips (619 x 2)
1 lot at 234.05 = 450 Pips
1 lot at 235.22 = 333 Pips
1 lot at 236.42 = 213 Pips
1 lot at 237.32 = 123 Pips
Total = 3038 Pips

GBP/USD If my stop loss is hit at 1.9660
2 lots at 1.9474 = 372 Pips (186 x 2)
1 lot at 1.9566 = 94 Pips
1 lot at 1.9641 = 19 Pips
1 lot at 1.9677 = -17 Pips
Total = 468 Pips

Are you doing this too?
Regards,
Rick
that's the way to trade trends man..
  • #503
  • Jan 19, 2007 3:39pm Jan 19, 2007 3:39pm
Quoting drick008
Hi Steve,
I've been doing your system this month and I did something different last week. As my position goes my direction, I added my position depending on the strenght of the trend. Last week I have long positions on GBP/USD and GBP/JPY. Like what you do, I adjust my stop loss according to technicals. Sometimes my stop loss on GBP/USD is 200 pips due to volatility during a big news. Last night I adjusted my Stop Loss GBP/USD to 1.9660 and GBP/JPY 238.55 Here is the result:

GBP/JPY If my stop loss is hit at 238.55 Then:
2 lots at 232.36 = 1238 Pips (619 x 2)
1 lot at 234.05 = 450 Pips
1 lot at 235.22 = 333 Pips
1 lot at 236.42 = 213 Pips
1 lot at 237.32 = 123 Pips
Total = 3038 Pips

GBP/USD If my stop loss is hit at 1.9660
2 lots at 1.9474 = 372 Pips (186 x 2)
1 lot at 1.9566 = 94 Pips
1 lot at 1.9641 = 19 Pips
1 lot at 1.9677 = -17 Pips
Total = 468 Pips

Are you doing this too?
Regards,
Rick
That's a fantastic result Rick

I'm not adding to my positions in this test but I'm pleased that someone has taken the essence of the system & turned it into something they (you) believe will succeed for them.

Have a great weekend

Kind Regards
Steve
  • #504
  • Jan 19, 2007 3:56pm Jan 19, 2007 3:56pm
Hi Rick,

What analysis are you doing to decide to add to the the trade? Also, are you using the same timing (end of day close) to increase your position?

Thanks,

D.


Quoting drick008
Hi Steve,
I've been doing your system this month and I did something different last week. As my position goes my direction, I added my position depending on the strenght of the trend. Last week I have long positions on GBP/USD and GBP/JPY. Like what you do, I adjust my stop loss according to technicals. Sometimes my stop loss on GBP/USD is 200 pips due to volatility during a big news. Last night I adjusted my Stop Loss GBP/USD to 1.9660 and GBP/JPY 238.55 Here is the result:

GBP/JPY If my stop loss is hit at 238.55 Then:
2 lots at 232.36 = 1238 Pips (619 x 2)
1 lot at 234.05 = 450 Pips
1 lot at 235.22 = 333 Pips
1 lot at 236.42 = 213 Pips
1 lot at 237.32 = 123 Pips
Total = 3038 Pips

GBP/USD If my stop loss is hit at 1.9660
2 lots at 1.9474 = 372 Pips (186 x 2)
1 lot at 1.9566 = 94 Pips
1 lot at 1.9641 = 19 Pips
1 lot at 1.9677 = -17 Pips
Total = 468 Pips

Are you doing this too?
Regards,
Rick
  • #505
  • Jan 19, 2007 4:29pm Jan 19, 2007 4:29pm
OK, well after a difficult week on some pairs all trades are currently open into the weekend.....

USDCAD short from 1.1739 (s/l 1.1765 guarantees minus 26 pips)
USDCHF short from 1.2468 (s/l 1.2541 guarantees minus 73 pips)
EURUSD long from 1.2966 (s/l 1.2904 guarantees minus 62 pips)
USDJPY long from 120.44 (s/l 120.99 guarantees plus 55 pips)
GBPUSD long from 1.9442 (s/l 1.9686 guarantees plus 244 pips)

So, after another yoyo of a day, worst case scenario from these trades stands at plus 138 pips. At last we have been able to lock some pips into the UJ trade and also a sizeable amount from the GU trade.

This week has been extremely difficult to trade USDCHF & EURUSD especially - I have attached a chart for each, circling the daily bars this week - in short it's been a nightmare with absolutely no direction whatsoever.

So far the system is working great and, by taking the 5 pairs it appears to help me through the ranging periods like we saw on a couple of pairs this week (UCAD wasn't much better either). I'm really pleased with how it's panning out so far

Have a great weekend folks.

Net pip gain for Jan 07: plus 520 pips
Cumulative since Nov 06: plus 1852 pips

Kind Regards
Steve
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  • #506
  • Jan 19, 2007 9:40pm Jan 19, 2007 9:40pm
Quoting Daemien
Hi Rick,

What analysis are you doing to decide to add to the the trade? Also, are you using the same timing (end of day close) to increase your position?

Thanks,

D.
Daemien,
I will start a tread entitled " Momentum Factor" to explain it so I don't use up Steve's Journal. Give me some time and it should be posted this weekend.

Rick
I'm a disciplined trader and that's the only way I trade.
  • #507
  • Jan 19, 2007 9:52pm Jan 19, 2007 9:52pm
Thanks Rick, I look forward to reading it...

D.


Quoting drick008
Daemien,
I will start a tread entitled " Momentum Factor" to explain it so I don't use up Steve's Journal. Give me some time and it should be posted this weekend.

Rick
  • #508
  • Jan 20, 2007 12:33am Jan 20, 2007 12:33am
Quoting drick008
Daemien,
I will start a tread entitled " Momentum Factor" to explain it so I don't use up Steve's Journal. Give me some time and it should be posted this weekend.

Rick
Rick,

Great talk. Steve started something great and my most thought is in improving the system beyond the ordinary frontiers that steve ever imagined. Great to see someone out there taking the initiative as well. Steve's brain pick is a winner no doubt. We are on the watch out for the new thread which will be a complement to this system but by no means substitute.

I see that the position sizeing is much of an MM thing and success and failures depend on MM. I can see the GBP/JPY pips results obtained by this MM is tremendous.

We shall read from your thread more on this.

Cheers

Dollar-Man http://www.forexfactory.com/images/icons/dollar.gif
  • #509
  • Jan 22, 2007 11:27am Jan 22, 2007 11:27am
OK, quick update - UCAD short stopped out for minus 26 pips but other open trades looking pretty good especially GU & UJ

Will post full update at just after 10pm GMT.

Total pips for Jan 07: plus 494 pips
Cumulative since Nov 06: plus 1826 pips

Kind Regards
Steve

  • #510
  • Jan 22, 2007 12:03pm Jan 22, 2007 12:03pm
Hi Steve,

Being Canadian I must apologize profusely for the lack of movement on the CAD. I broke open my piggy-bank this morning and cashed in some bucks at the bank - I figure this should lead to a breakout reflected in the prices hopefully tomorrow???

Actually, I am out of CAD for now until I see some sort of a definable trend. The daily chart is looking pretty flat these last 2 weeks or so and am tired of getting stopped out.

Good luck... and may my piggy bank tactic pan out!!!

D.


Quoting steviet
OK, quick update - UCAD short stopped out for minus 26 pips but other open trades looking pretty good especially GU & UJ

Will post full update at just after 10pm GMT.

Total pips for Jan 07: plus 494 pips
Cumulative since Nov 06: plus 1826 pips

Kind Regards
Steve

  • #511
  • Jan 22, 2007 12:07pm Jan 22, 2007 12:07pm
Quoting Daemien
Hi Steve,

Being Canadian I must apologize profusely for the lack of movement on the CAD. I broke open my piggy-bank this morning and cashed in some bucks at the bank - I figure this should lead to a breakout reflected in the prices hopefully tomorrow???

Actually, I am out of CAD for now until I see some sort of a definable trend. The daily chart is looking pretty flat these last 2 weeks or so and am tired of getting stopped out.

Good luck... and may my piggy bank tactic pan out!!!

D.


Yup, CAD hasn't been easy to trade this last week or two but still in credit this month on CAD by 62 pips thanks to the long which got stopped out 11th Jan or thereabouts. Since then see-saw like UCHF & EU.

Great thread you're putting together by the way

Kind Regards
Steve
  • #512
  • Jan 22, 2007 4:10pm Jan 22, 2007 4:10pm
Well, it's just past 10pm and we've locked in some more profit on GU and UJ and tightened the stop losses on EU and UCHF.........

USDCHF short from 1.2468 (s/l 1.2538 guarantees minus 70 pips)
EURUSD long from 1.2966 (s/l 1.2913 guarantees minus 53 pips)
USDJPY long from 120.44 (s/l 121.11 guarantees plus 67 pips)
GBPUSD long from 1.9442 (s/l 1.9706 guarantees plus 264 pips)

So, on these trades we guarantee at least 208 pip profit.

New trade...

USDCAD long from 1.1824 (s/l 1.1704 guarantees minus 120 pips)

Am a little uneasy going long after such a bullish daily bar with a large initial stop loss. On the upside, we have a strong close above 1.1800 so let's see how the trade develops.

Kind Regards
Steve
  • #513
  • Jan 22, 2007 4:22pm Jan 22, 2007 4:22pm
Quoting steviet

USDCAD long from 1.1824 (s/l 1.1704 guarantees minus 120 pips)
I may not be in the USDCAD but i'm w/ you mate cause I'm holding AUDCAD & EURCAD long
  • #514
  • Jan 22, 2007 4:26pm Jan 22, 2007 4:26pm
Quoting turbokaos
I may not be in the USDCAD but i'm w/ you mate cause I'm holding AUDCAD & EURCAD long
lol, I saw that but I also saw you're currently up around 170 pips in AUDCAD & 190 up in EURCAD, so you have a little head start

Great trades by the way - I think you may have me beat for January once you close them. Anyhow, that's one up for the old timer

Kind Regards
Steve
  • #515
  • Jan 23, 2007 11:29am Jan 23, 2007 11:29am
Hi peeps

My USDJPY long was stopped out earlier for a gain of 67 pips.

The other 4 trades are still open and currently up just over 500 pips (they were up over 650 when I popped home for lunch). Will be able to lock in some more pips later on these positions.

Total pips for Jan 07: plus 561 pips
Cumulative since Nov 06: plus 1893 pips

Kind Regards
Steve
  • #516
  • Jan 23, 2007 11:37am Jan 23, 2007 11:37am
Hey Steve are you going short on the usd/yen today?
Dave
  • #517
  • Jan 23, 2007 11:42am Jan 23, 2007 11:42am
Quoting forexdanofsa
Hey Steve are you going short on the usd/yen today?
Dave
Hi Dave,

Today's low was 121.10 - I got stopped out at 121.11 which was a bit annoying - since then UJ has recovered most of it's losses

I'm not due to put on my trade for another 4 hours or so & will be looking between now and then. It's brave shorting anything against the yen at the moment but in saying that, it would be a low risk trade pip wise.

I'll see later.

Kind Regards
Steve
  • #518
  • Jan 23, 2007 11:56am Jan 23, 2007 11:56am
Patience paid off with the pairs above. At some point I was almost 80 points in the red. Today 105 and 85 plus...Swissy short and Euro long. The USDCHF was due for retrace for a while, the only question was, will the S/L be wide enough to absorb the constipation of the last week....It was like getting back my oxygen botle.

Quoting steviet
Hi Dave,

Today's low was 121.10 - I got stopped out at 121.11 which was a bit annoying - since then UJ has recovered most of it's losses

I'm not due to put on my trade for another 4 hours or so & will be looking between now and then. It's brave shorting anything against the yen at the moment but in saying that, it would be a low risk trade pip wise.

I'll see later.

Kind Regards
Steve
  • #519
  • Jan 23, 2007 12:07pm Jan 23, 2007 12:07pm
Quoting milan47
Patience paid off with the pairs above. At some point I was almost 80 points in the red. Today 105 and 85 plus...Swissy short and Euro long. The USDCHF was due for retrace for a while, the only question was, will the S/L be wide enough to absorb the constipation of the last week....It was like getting back my oxygen botle.
Yup,

Been waiting for that breakout for over a week - am positive at the moment but with my system stop losses will still be in the negative tonight, so I need another day in this direction to lock in some pips.

Kind Regards
Steve
  • #520
  • Edited 5:17pm Jan 23, 2007 4:10pm | Edited 5:17pm
Well, another day over and the remaining 4 trades are still open with a few more pips locked in..........

USDCAD long from 1.1824 (s/l 1.1778 guarantees minus 46 pips)
USDCHF short from 1.2468 (s/l 1.2530 guarantees minus 62 pips)
EURUSD long from 1.2966 (s/l 1.2918 guarantees minus 48 pips)
GBPUSD long from 1.9442 (s/l 1.9742 guarantees plus 300 pips)

So, worst case scenario we have a total of 144 pips profit on these trades. Add to that the 67 pip profit earlier on UJ so it's been a pretty good day. The GU trade was up over 450 pips earlier today but is now hanging on at just above 1.98 - let's see what tomorrows GBP news brings.

New trade on UJ.......

USDJPY short from 121.61 (s/l 121.85 guarantees minus 24 pips)

Difficult one to call as we had a doji bar (indecision) today on UJ - price has failed at 121.75/80 two days running so the more sensible trade to take is the short with a lower risk.

Kind Regards
Steve
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