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Steviet's Live Trades!

  • #3,421
  • Jun 26, 2008 4:52pm Jun 26, 2008 4:52pm
Well, so far history suggests I come out on top over time so although this mont has made a massive dent, I'm still positive I'll turn it round.

Sorry to hear your last two months haven't been the best but you've proved over time you have what it takes

Kind Regards
Steve
Quoting Mr Trend
Don't worry too much about a month or two. I had five months of in the black... last month was a .5% loss and this month may be another small loser. So I feel ya. I decided to start doing signals on Collective2...heck if I'm gonna trade anyway, might as well do a signal service as well... http://www.collective2.com/go/pipsociety

If you can do 9 or 10 months black out of 12, you're doing VERY well... especially in this market...
  • #3,422
  • Jun 26, 2008 4:54pm Jun 26, 2008 4:54pm
Hey Pete,

Thanks for the kind words - I'll keep you posted

Kind regards
Steve
Quoting Northpro
Hey Steve,

Congrats on the big decision. You will do as great as you have thus far. Keep up the discipline as it has led you to this point. Awesome!! Looking forward to reading your future success.

Cheers,
Pete
  • #3,423
  • Jun 26, 2008 4:58pm Jun 26, 2008 4:58pm
Honesty is the best policy or so my mother told me lol.

Seriously though I have to tell it how it is or it would be a waste of everyone's time trawling their way though my endless drivvle lol.

This month has been crap and that's the truth.

Here's to a more profitable July.

Kind regards
Steve
Quoting tdion
You've got to appreciate Steviet's honesty. That's what makes this thread worth reading.


Mr. Trend, looking good on C2.... GL....
  • #3,424
  • Jun 26, 2008 6:12pm Jun 26, 2008 6:12pm
Quoting tdion
Mr. Trend, looking good on C2.... GL....
thanks bro...
Mr. Trend
  • #3,425
  • Jun 26, 2008 6:15pm Jun 26, 2008 6:15pm
Quoting steviet
I'm currently around 9% down this month...
I'm down around 7%... now I don't feel so bad. I was talking to an old mentor of mine today that the last few months have been rough... real choppy... rangy, crappy...

He just laughed and said, "Oh yeah, 200 pips up, 200 pips, down... yeah, real rangy!"

Of course, the joke is that he's an intraday, 89 tick trader... He's the only consistent day trader I know... bastard.
Mr. Trend
  • #3,426
  • Jun 26, 2008 6:17pm Jun 26, 2008 6:17pm
Quoting ItalianSharp
For all newbies reading this thread, instead of "copying" Steviet's style, try to learn the real value of his journey:

1) Find a trading style that suits your personality

2) Make sure that trading style provides you with an edge

3) Stay disciplined and trade your plan

4) Rinse and repeat
It really is that simple.

I am now mentoring a new guy... and he asked me the other day after I basically said the same thing to him:

Him: "Is it really that simple?"

Me: "Yep."

He just kinda looked at me and I could tell he understood the underlying reasoning...
Mr. Trend
  • #3,427
  • Jun 30, 2008 4:23pm Jun 30, 2008 4:23pm
Very poor month - day after day whatever could go wrong did go wrong but I remain confident that this month has been a blip, allbeit a bigger blip than I would like!

Being able to keep a closer eye on things during London & New York sessions will help limit the bad days and really make the good ones better. That's not to say I'll be staring at screens 24/7 - from September I'll be closing all positions more frequently and taking a few days off when I fancy.

OK, here goes....

Jan 15th Start Balance $103529
Feb 29th Balance $107374 (no positions open)
March 28th Balance $121148 (no positions open)
April 30th Balance $121289 (6 positions open)
May 31st Balance $127273
June 30th Balance $116478.57 eek!

So yes, June was pretty much a nightmare coming at the worst posible time but, stepping back and looking at my goal of 30% this year, it's still very much a possibility and I'm confident I'll make it.

It pains me to report the bad ones but it wouldn't be honest of me if I didn't. The whole buiness is a massive challenge but one that I'm prepared to take and, so far I'm doing OK.

Kind Regards
Steve
  • #3,428
  • Jun 30, 2008 4:31pm Jun 30, 2008 4:31pm
Hey Steve!

It always strikes in the most awkward moments, desn't it? So I would call it a good sign! Better now than later
And you are 100% on track with a 30% p.a. goal! I predict here and now that you are safe with that one in mid-October!

Holding that bet - anyone?

Ciao!
Matt
  • #3,429
  • Jun 30, 2008 4:37pm Jun 30, 2008 4:37pm
Thanks for the support Matt,

Maybe today was a sign of better things to come. Today was close to a $2k profit and things went pretty much my way.

Incredible frustration this month where at times you think you've lost the plot but I'll come through it - I have before.

As you say, the timing made it ten times worse - hand in my notice at work then have the worst losing streak of days by quite some way.

Ho hum, these things are sent to test us so I'm told lol

Kind Regards
Steve
Quoting Gnat
Hey Steve!

It always strikes in the most awkward moments, desn't it? So I would call it a good sign! Better now than later
And you are 100% on track with a 30% p.a. goal! I predict here and now that you are safe with that one in mid-October!

Holding that bet - anyone?

Ciao!
Matt
  • #3,430
  • Jun 30, 2008 4:41pm Jun 30, 2008 4:41pm
Quoting steviet
Very poor month - day after day whatever could go wrong did go wrong but I remain confident that this month has been a blip, allbeit a bigger blip than I would like!

Being able to keep a closer eye on things during London & New York sessions will help limit the bad days and really make the good ones better. That's not to say I'll be staring at screens 24/7 - from September I'll be closing all positions more frequently and taking a few days off when I fancy.

OK, here goes....

Jan 15th Start Balance $103529
Feb 29th Balance $107374 (no positions open)
March 28th Balance $121148 (no positions open)
April 30th Balance $121289 (6 positions open)
May 31st Balance $127273
June 30th Balance $116478.57 eek!

So yes, June was pretty much a nightmare coming at the worst posible time but, stepping back and looking at my goal of 30% this year, it's still very much a possibility and I'm confident I'll make it.

It pains me to report the bad ones but it wouldn't be honest of me if I didn't. The whole buiness is a massive challenge but one that I'm prepared to take and, so far I'm doing OK.

Kind Regards
Steve
So you're right around 8% red this month. Well if it makes you feel any better, I'm at 10-11% red this month. My worst month so far.

The markets are crappy right now for traders, at least for swing traders like myself... but it'll change. Always does. Right when you want to say, forget it, I'll take a month off, or something, that's right when it'll get better and you'll kick yourself in the rearend for taking that break... heh.
Mr. Trend
  • #3,431
  • Jun 30, 2008 4:55pm Jun 30, 2008 4:55pm
Doesn't make me feel any better because I know what it feels like but you know & I know we'll pull it around.

I just take a look at Barclayhedge from time to timeand it makes me realise I'm doing pretty well in the grand scheme of things

Your last paragraph is very true - this month was just not our month but tomorrow is the start of a new one

Kind regards
Steve
Quoting Mr Trend
So you're right around 8% red this month. Well if it makes you feel any better, I'm at 10-11% red this month. My worst month so far.

The markets are crappy right now for traders, at least for swing traders like myself... but it'll change. Always does. Right when you want to say, forget it, I'll take a month off, or something, that's right when it'll get better and you'll kick yourself in the rearend for taking that break... heh.
  • #3,432
  • Jun 30, 2008 5:01pm Jun 30, 2008 5:01pm
Quoting steviet
So yes, June was pretty much a nightmare coming at the worst posible time but, stepping back and looking at my goal of 30% this year, it's still very much a possibility and I'm confident I'll make it.

It pains me to report the bad ones but it wouldn't be honest of me if I didn't. The whole buiness is a massive challenge but one that I'm prepared to take and, so far I'm doing OK.

Kind Regards
Steve
You'll make it, no worries mate. You're not the only one who had a "less than stellar" month, so don't feel like you're alone out there. Now I feel bad for having made a profit this month (less than half of my expectation mind you, so I still call it a ruddy month) after reading about you and MrTrend not quite dishing out the pain like usual. Just trudge it out and keep it honest. Best of luck mate.
Never underestimate the powers of the Force.
  • #3,433
  • Jun 30, 2008 5:21pm Jun 30, 2008 5:21pm
Hey, don't feel bad! Someone's gotta take my money afterall lol

Yup, a line drawn under June and a new month and fresh challenges ahead.

Thanks for the kind words.

Steve
Quoting The Jedi
You'll make it, no worries mate. You're not the only one who had a "less than stellar" month, so don't feel like you're alone out there. Now I feel bad for having made a profit this month (less than half of my expectation mind you, so I still call it a ruddy month) after reading about you and MrTrend not quite dishing out the pain like usual. Just trudge it out and keep it honest. Best of luck mate.
  • #3,434
  • Jun 30, 2008 5:40pm Jun 30, 2008 5:40pm
Big Steve -

Don't worry about this month, there has been a lot of bad juju out there.

I have to admit, I am profitable this month, but at half of what I normally do. I seriously think it's only because I didn't have a lot of time to look at charts. (And by extension, not much time to make bad trades.)

You'll get it back. I agree - by the time October hits, you should be golden again. Besides, the summer is here, and the world doesn't know what to do at the moment.

Clockwork
  • #3,435
  • Jun 30, 2008 5:42pm Jun 30, 2008 5:42pm
Quoting The Jedi
Now I feel bad for having made a profit this month (less than half of my expectation mind you, so I still call it a ruddy month) after reading about you and Mr. Trend not quite dishing out the pain like usual.
Just one of those months. It's all about the grand scheme of things. Just have to execute with the plan and everything else will fall in line.

What's rough is that when you are profitable, and you are offering a service (in Steve's case, managed services, with mine, it's fickle signal clients), you will fall into the trap of worrying about what you're going to do percentage-wise for the month.

It's interesting from a psychological point of view, because it used to be about making money -- now I want my clients to be happy. I want to at least breakeven and give them the confidence that I can continue to do well.

And when you treat it like a business like this, you are just trying to do what you can to keep getting subscribers -- that's what makes you money. So it's hard to not get down... but as Steve has said -- you just have to look at each month as a new opportunity. If you keep that mindset, you'll be very successful.

The key is to not worry about the equity curves or the percentages -- rather, the only thing you have to worry about is whether or not you're executing according to your plan. The money (subscribers, managed accounts, fees, etc...) will come...
Mr. Trend
  • #3,436
  • Jun 30, 2008 5:46pm Jun 30, 2008 5:46pm
Quoting Mr Trend
It's interesting from a psychological point of view, because it used to be about making money -- now I want my clients to be happy. I want to at least breakeven and give them the confidence that I can continue to do well.

And when you treat it like a business like this, you are just trying to do what you can to keep getting subscribers -- that's what makes you money. So it's hard to not get down... but as Steve has said -- you just have to look at each month as a new opportunity. If you keep that mindset, you'll be very successful.

The key is to not worry about the equity curves or the percentages -- rather, the only thing you have to worry about is whether or not you're executing according to your plan. The money (subscribers, managed accounts, fees, etc...) will come...
Not trying to bag or anything, but it just sounds like you've already crossed the line a bit from what you've said. The line being from trading to make good trades into trying to make good signals to sell. Only reason I bring it up is that I've had those disconnected months too. Mine was May instead of June. Felt disconnected from the usual trading skill and it showed. Sometimes we just have to sit down with ourselves for an hour or so and straighten it out. After all, what good is a jedi who is out of touch with the force? Couldn't resist.
Never underestimate the powers of the Force.
  • #3,437
  • Jun 30, 2008 5:47pm Jun 30, 2008 5:47pm
The times they are a changing... !!!

All that nice big head and shoulders on GBP/JPY is over.... I think big trends on pairs like EUR/USD are coming to an end...

Can it be... it's time to trade differently... ??? What worked before may not work as well anymore..... look at that head and shoulders..... always a good idea where price should go.... but what about now... ???

Not that I should be sticking my 2 cents in.... I just do anyway... !!
  • #3,438
  • Jun 30, 2008 5:54pm Jun 30, 2008 5:54pm
Quoting The Jedi
Not trying to bag or anything, but it just sounds like you've already crossed the line a bit from what you've said. The line being from trading to make good trades into trying to make good signals to sell. Only reason I bring it up is that I've had those disconnected months too. Mine was May instead of June. Felt disconnected from the usual trading skill and it showed. Sometimes we just have to sit down with ourselves for an hour or so and straighten it out. After all, what good is a jedi who is out of touch with the force? Couldn't resist.
You've misunderstood. Making good signals and making good trades are synonymous. You are thinking that signal providers are inherently bad. But they aren't. The reason why there are bad signal providers is because they don't know how to trade, so they want to fool their subscribers.

That's why I use Collective2. I can't fool anyone. Thus, my signal business is legitimate.

If you are a good trader, a site like Collective2 will prove that. So you have to be on your game, because people will write reviews on how you suck, thus hurting your business, and eventually, weeding you out from the successful providers.

Signal providers provide a product just like anything else. Some people don't wanna worry about trading, or they simply can't trade well. So they turn to those who can and they pay a fee for that.

I am a very honest trader. I put my reputation on the line for that. I also structure my signals so that my clients aren't surprised. And I always answer their emails in a timely manner. I think that's important for any business -- whether you're selling ice cream or hand grenades... it's all the same.
Mr. Trend
  • #3,439
  • Jul 2, 2008 4:18am Jul 2, 2008 4:18am
Hi Stevie,

I'm a Londoner too and have been spending the last couple of months untangling the great ball of string that is Forex Factory, working on my education. When I eventully go into the market live I am very highly capitalised so it's all the more important to take my time learning.

This thread is on my "to do" list because so many people respect and recommend you.

Good luck with the move to full time. Your bad month sounds as if it's come at just the wrong time for your confidence, but you know the system works. As they say, if your system is 75% successful with good risk to reward ratio you have a phenomenal edge. It's just that no one knows when those 25% of losers show up....and whether they all show up together.....

Good luck!
  • #3,440
  • Jul 15, 2008 4:05pm Jul 15, 2008 4:05pm
Hey!

Sorry I missed this one - welcome to Forex Factory

Thanks for your kind words and all the best in your journey.

Kind Regards
Steve
Quoting TiaForex
Hi Stevie,

I'm a Londoner too and have been spending the last couple of months untangling the great ball of string that is Forex Factory, working on my education. When I eventully go into the market live I am very highly capitalised so it's all the more important to take my time learning.

This thread is on my "to do" list because so many people respect and recommend you.

Good luck with the move to full time. Your bad month sounds as if it's come at just the wrong time for your confidence, but you know the system works. As they say, if your system is 75% successful with good risk to reward ratio you have a phenomenal edge. It's just that no one knows when those 25% of losers show up....and whether they all show up together.....

Good luck!
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