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Steviet's Live Trades!

  • #881
  • Feb 12, 2007 1:01pm Feb 12, 2007 1:01pm
Steviet

Hey, I hope you will continue to have good luck !!! I know what you mean by not having the capital... I had to save a buck here and a buck there for over a year to get $ 2000 saved to start an account... I even hid it from my wife, adn that it something I have never done... she would have wanted to use it to pay off bills... she did not believe I was capable of saving any money anyway... she thought I had a couple hundred $$$s... her mouth dropped open a bit when I handed her the 2 K and told her to open the account...!!

Don't worry about what I or others say.. if you know your system works, then that is all you need... and all the better if you have beacktested it, since so many around here don't bother to backtest...

It took me almost two years, but I finally have made my little system, and it is working great... now I can see the trades setting up ahead of time... just make the trades as required... a LOT LESS stressful... and for the first time in two years, i am positive pips for the year. Though not so positive, since I had to make up for a lot of negative !!!
  • #882
  • Feb 12, 2007 2:25pm Feb 12, 2007 2:25pm
Quoting Tiki Trader
Steviet

Hey, I hope you will continue to have good luck !!! I know what you mean by not having the capital... I had to save a buck here and a buck there for over a year to get $ 2000 saved to start an account... I even hid it from my wife, adn that it something I have never done... she would have wanted to use it to pay off bills... she did not believe I was capable of saving any money anyway... she thought I had a couple hundred $$$s... her mouth dropped open a bit when I handed her the 2 K and told her to open the account...!!

Don't worry about what I or others say.. if you know your system works, then that is all you need... and all the better if you have beacktested it, since so many around here don't bother to backtest...

It took me almost two years, but I finally have made my little system, and it is working great... now I can see the trades setting up ahead of time... just make the trades as required... a LOT LESS stressful... and for the first time in two years, i am positive pips for the year. Though not so positive, since I had to make up for a lot of negative !!!

haha I like the signature!!!!

Matt
I'd rather have the boogie man in my closet then the forex monster
  • #883
  • Feb 12, 2007 2:48pm Feb 12, 2007 2:48pm
Quoting Tiki Trader
Steviet

Hey, I hope you will continue to have good luck !!! I know what you mean by not having the capital... I had to save a buck here and a buck there for over a year to get $ 2000 saved to start an account... I even hid it from my wife, adn that it something I have never done... she would have wanted to use it to pay off bills... she did not believe I was capable of saving any money anyway... she thought I had a couple hundred $$$s... her mouth dropped open a bit when I handed her the 2 K and told her to open the account...!!

Don't worry about what I or others say.. if you know your system works, then that is all you need... and all the better if you have beacktested it, since so many around here don't bother to backtest...

It took me almost two years, but I finally have made my little system, and it is working great... now I can see the trades setting up ahead of time... just make the trades as required... a LOT LESS stressful... and for the first time in two years, i am positive pips for the year. Though not so positive, since I had to make up for a lot of negative !!!
Well done Tiki

It is difficult starting out with such a small amount but the benefit is that you learn and can become confident in your system without breaking the bank.

Best of luck for the future my friend

Kind Regards
Steve
  • #884
  • Feb 12, 2007 3:52pm Feb 12, 2007 3:52pm
For now I am still trading cents per pip... I lost money last year and my account balance came down to 1880 $$ But if I can keep it together for one more month and be more than just a lucky streak, I will up the trade amount to 50 cents a pip or so... I can't wait !!! Cause I already know it is not just luck !! I finally had my ''ah ha moment" !!!
  • #885
  • Feb 12, 2007 4:06pm Feb 12, 2007 4:06pm
OK, 4 trades still open with stop losses tightened - UJ now guarantees 78 pips

Existing trades....

USDCAD short from 1.1732 (s/l 1.1773 guarantees minus 41 pips)
USDCHF long from 1.2490 (s/l 1.2449 guarantees minus 41 pips)
GBPUSD short from 1.9479 (s/l 1.9578 guarantees minus 99 pips)
USDJPY long from 120.69 (s/l 121.47 guarantees plus 78 pips)

New trade....

EURUSD short from 1.2964 (s/l 1.3048 guarantees minus 84 pips)

At least we now have our first win in February - long time coming lol.

Kind Regards
Steve
  • #886
  • Feb 12, 2007 4:21pm Feb 12, 2007 4:21pm
  •  markt
  • | Joined Jan 2007 | Status: Would be... Full time trader | 88 Posts
Evening Steve, I am still checking in every day to check out the thread and of course everynight to set up trades but busy here working on plan (b).. building my own EA... which is very interesting..

keep up the good work!
  • #887
  • Feb 12, 2007 4:26pm Feb 12, 2007 4:26pm
Quoting markt
Evening Steve, I am still checking in every day to check out the thread and of course everynight to set up trades but busy here working on plan (b).. building my own EA... which is very interesting..

keep up the good work!
Hi Mark

That's great to hear that you're building your own system - I truly believe that until you can make a method/system your own then you don't feel absolutely comfortable trading it.

Sure, take the essence of another system or system(s) but own it.

Cheers
Steve
  • #888
  • Feb 12, 2007 6:34pm Feb 12, 2007 6:34pm
Quoting steviet
USDJPY long from 120.69 (s/l 121.47 guarantees plus 78 pips)
Its about time never the less pips are pips and I hope this is a sign of good things to come for you in Feb. but I think these are coming from my AUDJPY trade. lol
  • #889
  • Feb 13, 2007 3:23am Feb 13, 2007 3:23am
Quoting steviet
OK, 4 trades still open with stop losses tightened - UJ now guarantees 78 pips

Existing trades....

USDCAD short from 1.1732 (s/l 1.1773 guarantees minus 41 pips)
USDCHF long from 1.2490 (s/l 1.2449 guarantees minus 41 pips)
GBPUSD short from 1.9479 (s/l 1.9578 guarantees minus 99 pips)
USDJPY long from 120.69 (s/l 121.47 guarantees plus 78 pips)

New trade....

EURUSD short from 1.2964 (s/l 1.3048 guarantees minus 84 pips)

At least we now have our first win in February - long time coming lol.

Kind Regards
Steve
=========================================================

Steve, the EU has consistently not been able to break the 200 MA downwards on the daily and a short is more of a risk than a long. I am long anyway. But good luck to both of us, moreso, today's trade data will determine where it goes....

Dollar-manhttp://www.forexfactory.com/images/icons/dollar.gif
  • #890
  • Feb 13, 2007 5:15am Feb 13, 2007 5:15am
OK,

USDJPY stopped out for plus 78 pips overnight.

Kind Regards
Steve
  • #891
  • Feb 13, 2007 5:19am Feb 13, 2007 5:19am
Quoting Dollar-Man
=========================================================

Steve, the EU has consistently not been able to break the 200 MA downwards on the daily and a short is more of a risk than a long. I am long anyway. But good luck to both of us, moreso, today's trade data will determine where it goes....

Dollar-manhttp://www.forexfactory.com/images/icons/dollar.gif
Hi,

Yup, I was long on EU for a few days prior to being stopped out. My reasoning behind the short was yesterday's candle together with the fact that it has been unable to breach 1.3045 for 3 days running.

I see we have had good Euro news this morning which has pushed it a little higher but it still hasn't really moved much on the back of that.

As you say, let's see what the US news brings...

Kind Regards
Steve
  • #892
  • Feb 13, 2007 7:35am Feb 13, 2007 7:35am
Ouch,

Got stopped out of UCHF long for minus 41 pips on the US trade data spike. Even though US news was not great it seems to have bounced nicelyoff my stop loss - always the way

Update later...

Kind Regards
Steve
  • #893
  • Feb 13, 2007 8:17am Feb 13, 2007 8:17am
A poorer trade balance of 60 - 69 billion is really supposed to have a negative effect on the dollar and i suspect it should rule the dollar movement untill the retail sales report is released tomorrow. Surprisingly the market lacks direction so far!!!

I am not a fundamental trader but sometimes you just couldn't resist checking those numbers.

Cable is not responsive to the poor trade balance either. If what i suspect is true, then cable might be going to 1.9300 area before upeat sound again not withstanding the poor trade data.

I am enjoying everyone's post here and may i note that the maturity on this journal is really encouraging.

Good pips pips and pips.....

Dollar-manhttp://www.forexfactory.com/images/icons/dollar.gif
  • #894
  • Feb 13, 2007 8:30am Feb 13, 2007 8:30am
Steve,

I just remembered to let you know that we are all watching with keen interest....and don't be decieved to not post every bit of detail on this testing.

Pls, post all details. Thats what makes the testing worthwhile. Thats what it entails to be disciplined. February has been bad but february is not over! And i know it is not over untill it is over!! Other black box gurus can't do what you are doing and thats the very first thing that attracted me to this journal. Pls, post good or bad. We are here to support and cheer you. But i am optimistic the end result of this forward testing will beat your expectation. Know that the joy of success will normally come at the end.

Thanks

Dollar-Manhttp://www.forexfactory.com/images/icons/dollar.gif
  • #895
  • Feb 13, 2007 8:46am Feb 13, 2007 8:46am
Quoting Dollar-Man
Steve,

I just remembered to let you know that we are all watching with keen interest....and don't be decieved to not post every bit of detail on this testing.

Pls, post all details. Thats what makes the testing worthwhile. Thats what it entails to be disciplined. February has been bad but february is not over! And i know it is not over untill it is over!! Other black box gurus can't do what you are doing and thats the very first thing that attracted me to this journal. Pls, post good or bad. We are here to support and cheer you. But i am optimistic the end result of this forward testing will beat your expectation. Know that the joy of success will normally come at the end.

Thanks

Dollar-Manhttp://www.forexfactory.com/images/icons/dollar.gif
Thanks for your comments & encouragement

Looks like for now EU has rejected the 3050 again - my s/l was within a few pips of being hit and as I thought UCHF has now bounced back up to my entry price lol. The poor US data doesn't seem to have had a great negative effect on the dollar so far.

Yes, I am hoping GU will drop to 9300 which will give me a few pips - should have been a few hundred if I'd gone short at 9600 but that's history now.

You are right, the latter part of January & February so far has been very testing but I remain confident that come the end of the year I'll come out positive and near expectations.

It's a lot harder trading live with a string of losses but I am comforted by looking back over the last couple of years charts that this is quite normal. Eventually the market reverts to bigger ranges and trends where I can make a killing.

Thanks again

Kind Regards
Steve
  • #896
  • Feb 13, 2007 2:44pm Feb 13, 2007 2:44pm
That is what I like to see in somebody who has done their back-testing well (seel below). Confidence comes from proper testing and knowing how your system has performed in the past. Both characteristics are lacking from most new traders.

Having said all that, my main concerns about your trading style come from:

1. correlation betwen pairs - too high..?
2. money management - too aggressive..?

Like you've said before - your winnings are amplified but on the flip-side so are your losses, however short you cut them.

Remember these are not criticisms, just my concerns - if it were me trading your system!! I think you're handling both quite well right now and that can only come from doing your homework!

Quoting steviet
Thanks for your comments & encouragement

Looks like for now EU has rejected the 3050 again - my s/l was within a few pips of being hit and as I thought UCHF has now bounced back up to my entry price lol. The poor US data doesn't seem to have had a great negative effect on the dollar so far.

Yes, I am hoping GU will drop to 9300 which will give me a few pips - should have been a few hundred if I'd gone short at 9600 but that's history now.

You are right, the latter part of January & February so far has been very testing but I remain confident that come the end of the year I'll come out positive and near expectations.

It's a lot harder trading live with a string of losses but I am comforted by looking back over the last couple of years charts that this is quite normal. Eventually the market reverts to bigger ranges and trends where I can make a killing.

Thanks again

Kind Regards
Steve
  • #897
  • Feb 13, 2007 3:13pm Feb 13, 2007 3:13pm
Quoting Isotonic
That is what I like to see in somebody who has done their back-testing well (seel below). Confidence comes from proper testing and knowing how your system has performed in the past. Both characteristics are lacking from most new traders.

Having said all that, my main concerns about your trading style come from:

1. correlation betwen pairs - too high..?
2. money management - too aggressive..?

Like you've said before - your winnings are amplified but on the flip-side so are your losses, however short you cut them.

Remember these are not criticisms, just my concerns - if it were me trading your system!! I think you're handling both quite well right now and that can only come from doing your homework!
Hi

1. Correlation - you may be right here and if necessary this will be addressed after the year is up.

2. Money management - as you know I trade 5 pairs and use around 2% of account balance on each trade. In reality, the initial stop loss is often under that and this is tightened after day 1 if I'm still in the trade. My biggest loser so far is 98 pips (under 2%) and average loser is under 50 pips (under 1%). You will also have noted that as my balance decreased recently after some losses, so did my trade size. Again, you may be right here and I could be too aggressive but I want to get through the full year live testing before changing anything at all. As you know, its rarely the system that is at fault rather the trader trading it lol.

Thanks for your concerns - duly noted

Kind Regards
Steve
  • #898
  • Feb 13, 2007 3:49pm Feb 13, 2007 3:49pm
Quoting steviet
Hi

1. Correlation - you may be right here and if necessary this will be addressed after the year is up.

2. Money management - as you know I trade 5 pairs and use around 2% of account balance on each trade. In reality, the initial stop loss is often under that and this is tightened after day 1 if I'm still in the trade. My biggest loser so far is 98 pips (under 2%) and average loser is under 50 pips (under 1%). You will also have noted that as my balance decreased recently after some losses, so did my trade size. Again, you may be right here and I could be too aggressive but I want to get through the full year live testing before changing anything at all. As you know, its rarely the system that is at fault rather the trader trading it lol.

Thanks for your concerns - duly noted

Kind Regards
Steve
you inspire me to use your s/l method of actually placing the s/l lower than the initial risk

That's why I'm surprised to see your low drawdowns average 7-8% drawdown so far? And mine has been 10-15%.
  • #899
  • Feb 13, 2007 4:15pm Feb 13, 2007 4:15pm
OK, it's that time of day again. 3 trades still on with stop losses adjusted....

EURUSD short from 1.2964 (s/l 1.3048 guarantees minus 84 pips)
USDCAD short from 1.1732 (s/l 1.1773 guarantees minus 41 pips)
GBPUSD short from 1.9479 (s/l 1.9535 guarantees minus 56 pips)

EU was nearly stopped out today and keeps threatening to break out of this range. UCAD was also nearly stopped out but is currently up 65 pips. GU has been up as much as 75 pips today but is currently all over the place lol.

New trades....

USDCHF short from 1.2468 (s/l 1.2549 guarantees minus 81 pips)
USDJPY short from 121.16 (s/l 122.06 guarantees minus 90 pips)

UCHF is just above support (1.2450/60) at the moment and I am going short as I would have through backtesting. I'm aware that I am short on both UCHF & EU - in fact I'm currently short on all 5 pairs lol.

UJ I am going short as per yesterdays candlestick.

Kind Regards
Steve
  • #900
  • Feb 13, 2007 4:17pm Feb 13, 2007 4:17pm
GBP/USD Daily Chart

With the Candle formation shown on the Chart, does it indicate closing your Short and opening a Long?

Thank you.
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