Steviet's Live Trades!

Quoting coastalfx

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Just noticed Steve that in your response to me you said that you now use 6% for your 1000 pip stop/loss do you mean at 1000 pips you lose a max of 6% of equity or do you mean that you place the initial trade using 6% equity?

Thanks,
Jackie

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Quoting avus

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Hi Stevie,

would you be interested in managing some other money/accounts?
I would like to invest in your trading. If you re interested is may be better to discuss the topic via e-mail. you can write me : mitja78 'AT' gmail 'DOT' com .

Best regards,

Mitja

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Quoting steviet

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Thanks for that Matt

What I still do is pretty much the same as it was then but if anyone needs anything clarifying, please ask.

Kind Regards
Steve

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Quoting Gnat

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You're welcome, Steve!

I re-read your explanations on the "What about that hedging thing?" thread, that attracted my attention back then, until I read it and found out that it was not meant to be an open discussion. I rarely get into those debates, as I really like harmony and on the other hand I am not the person to cope with "Mr. Knowitalls" that easily.

As I stated before, I am a fan (not so much of Manchester United, but...) of your trading approach and I tried something that might in fact be slightly alike. It includes hedging in an non-academic terminology, as I am constantly overhedging into one direction or the other. As the best pair for that is GBPJPY due to its volatility, I would think it is not the only parallel in the approaches.

Instead of Pinbars and likewise figures of the J16 armories, I simply use the PSAR on M30 to pick the direction to start putting tiny orders into that one direction on the M5 chart whenever the candle closes into the direction of the PSAR30 "trend" and the PSAR on M5 goes along with that. No orders are placed as the two contradict each other.

The easiest thing now would be to let the orders reach 0.10% of the account balance and take profit. The normal case would be to see the PSAR30 alter its direction and instantly put twice as many trades into that direction. Now you have e.g. 14 Buy orders and need to place 28 likewise dimensioned Sell orders on the chart (easier: Put them into one order only).

Now the GBPJPY is overhedged toward a downward movement and as this probably continues, you close all orders as the overall surplus reaches 0.10% again. In real life the PSAR30 may change direction 2-3 times and so you have to limit your ordersize accordingly to be able to entertain 200+ orders if needed. (Not in numbers, but in size based on the initial order you placed.) To keep this very fruitful and safe a USD 1.000 account can only carry an initial lotsize of 0.01 on a micro-mini account.

It is not that hard to do and you are never caught on the wrong foot. In a range you simply stop placing orders and just wait for the breakout. In a range you also "know" the point the PSAR30 will change and so you can keep sell stops and buy stops accordingly. Normally the dimension of this imperfect hedge is 100 pips wide. The GBPJPY will normally dissolve such a setup in profit 3-4 times a week. As EURJPY and USDJPY also qualify for such a treatment the account will in a stable manner and the relative drawdown is smaller than the monthly surplus.

It also works completely without stoploss, as this would not make too much sense at all. Either you are right from the start, or time will tell which side will win. So I would be curious where our approaches are similar and where they differ. In fact I can start my trading at any given time and it will normally not hurt the outcome. It is just pretty hard work sometimes!

Hopefully I did not bore you, LOL!
Ciao!
Matt

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Quoting Gnat

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You're welcome, Steve!

I re-read your explanations on the "What about that hedging thing?" thread, that attracted my attention back then, until I read it and found out that it was not meant to be an open discussion. I rarely get into those debates, as I really like harmony and on the other hand I am not the person to cope with "Mr. Knowitalls" that easily.

As I stated before, I am a fan (not so much of Manchester United, but...) of your trading approach and I tried something that might in fact be slightly alike. It includes hedging in an non-academic terminology, as I am constantly overhedging into one direction or the other. As the best pair for that is GBPJPY due to its volatility, I would think it is not the only parallel in the approaches.

Instead of Pinbars and likewise figures of the J16 armories, I simply use the PSAR on M30 to pick the direction to start putting tiny orders into that one direction on the M5 chart whenever the candle closes into the direction of the PSAR30 "trend" and the PSAR on M5 goes along with that. No orders are placed as the two contradict each other.

The easiest thing now would be to let the orders reach 0.10% of the account balance and take profit. The normal case would be to see the PSAR30 alter its direction and instantly put twice as many trades into that direction. Now you have e.g. 14 Buy orders and need to place 28 likewise dimensioned Sell orders on the chart (easier: Put them into one order only).

Now the GBPJPY is overhedged toward a downward movement and as this probably continues, you close all orders as the overall surplus reaches 0.10% again. In real life the PSAR30 may change direction 2-3 times and so you have to limit your ordersize accordingly to be able to entertain 200+ orders if needed. (Not in numbers, but in size based on the initial order you placed.) To keep this very fruitful and safe a USD 1.000 account can only carry an initial lotsize of 0.01 on a micro-mini account.

It is not that hard to do and you are never caught on the wrong foot. In a range you simply stop placing orders and just wait for the breakout. In a range you also "know" the point the PSAR30 will change and so you can keep sell stops and buy stops accordingly. Normally the dimension of this imperfect hedge is 100 pips wide. The GBPJPY will normally dissolve such a setup in profit 3-4 times a week. As EURJPY and USDJPY also qualify for such a treatment the account will in a stable manner and the relative drawdown is smaller than the monthly surplus.

It also works completely without stoploss, as this would not make too much sense at all. Either you are right from the start, or time will tell which side will win. So I would be curious where our approaches are similar and where they differ. In fact I can start my trading at any given time and it will normally not hurt the outcome. It is just pretty hard work sometimes!

Hopefully I did not bore you, LOL!
Ciao!
Matt

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Quoting steviet

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Hi Matt,

Sorry for the length of time it has taken to respond to your post. A lot has been going on these past few weeks and I have finally taken the plunge and handed in my notice at work. From September I'll be trading 'full-time' and it's an exciting but slightly daunting prospect!

It looks like there are similarities with the way we trade - I like your style! There are obviously differences in that I don't use indicators generally but thats not to say I'm against others using them if they help. I limit my positions to a certain amount open and I see you can have up to 200 open (tiny lots) at once! I guess you are closing all positions 3-4 times a week when your equity has risen by a certain amount? This is similar to me netting off at certain times and starting again although I do this less frequently at present.

I don't know about you but this month has not been good so far - often my work patterns don't disrupt my trading but June has finally made me decide I simply cannot afford to be at work. I'm now comfortable with the way I trade and I just consider this to be a minor blip and I would hope that by month end things are looking more rosy.

Great to hear from you - I sent you a PM too.

Kind regards
Steve

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Quoting brxxt

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I feel like that kind of return is unheard of on this forum... ridiculous lol

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Quoting The Jedi

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Glad to hear you're finally able to make the jump Stevie. Best of luck in your endeavour mate!

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Quoting tdion

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steve,

i just IMed kris (turbo kaos) and he is no longer trading AT ALL. he said it was too much strain on his family. not that it applies to you.... i'm sure you have considered your situation....

but kris seemed to have it all together (profits, forexanonymous site, etc) and now he's optimizing search engines, relocating from costa rica to florida.

best of luck
tom

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Quoting tdion

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3900 GPYJPY pips is not the same as 3900 EURUSD pips.... he has to use HUGE 1000 pip stops because of the volatility... it isn't that amazing (sorry steve... )

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Quoting tdion

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steve,

i just IMed kris (turbo kaos) and he is no longer trading AT ALL.

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Quoting steviet

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Hi Matt,

Sorry for the length of time it has taken to respond to your post. A lot has been going on these past few weeks and I have finally taken the plunge and handed in my notice at work. From September I'll be trading 'full-time' and it's an exciting but slightly daunting prospect!

It looks like there are similarities with the way we trade - I like your style! There are obviously differences in that I don't use indicators generally but thats not to say I'm against others using them if they help. I limit my positions to a certain amount open and I see you can have up to 200 open (tiny lots) at once! I guess you are closing all positions 3-4 times a week when your equity has risen by a certain amount? This is similar to me netting off at certain times and starting again although I do this less frequently at present.

I don't know about you but this month has not been good so far - often my work patterns don't disrupt my trading but June has finally made me decide I simply cannot afford to be at work. I'm now comfortable with the way I trade and I just consider this to be a minor blip and I would hope that by month end things are looking more rosy.

Great to hear from you - I sent you a PM too.

Kind regards
Steve

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Quoting Gnat

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Hey Steve!

Thanks for the PM and the answer here! And a big hand for you to have made the final step - I am sure you will succeed. If not you, who will ever!?! I left the bank years ago to get my freedom back and have a good receipient for the money I made and make trading: My wife! Ups!

I choose the GBPJPY for the same reason - volatility, so that the 200 open positions are a rare occassion, but they actually do not hurt. Just like your 1.000 pip stoploss, it is something that has to be reflected in the MM rules and it is. And you are completely right: As the equity reaches a surplus of approx. 0,10%, all orders are flushed away and I start from the beginning.

My youngest son tells me that my chart look like sailingships with all the blue and red line meeting in one point after being flushed in profit. (He is 4 ) So trading can actually be fun at times and it leave enough room for something like a "life".

Have a good start into being self-employeed in September!
Ciao!
Matt

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