Steviet's Live Trades! | Page 47 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Dukascopy Live Account - Don't Post if you haven't traded live with them! 117 replies

My Live Trades on my Live Account 588 replies

go live or bust ... diary of an fx live-trader-wannabe 1,621 replies

Trade 2 live accounts - one with full balance, 2nd as a live test? 0 replies

Oanda 10$ live acc quick-start guide (for newbie to trade live safe) 13 replies

Attachments: Steviet's Live Trades!
Exit Attachments

Steviet's Live Trades!

  • #921
  • Feb 15, 2007 4:10pm Feb 15, 2007 4:10pm
OK, I think we may have a new record here but more on that later.

All 5 trades make it into Friday and they currently stand as follows....

EURUSD long from 1.3131 (s/l 1.3107 guarantees minus 24 pips)
GBPUSD long from 1.9629 (s/l 1.9498 guarantees minus 131 pips)
USDCHF short from 1.2468 (s/l 1.2418 guarantees plus 50 pips)
USDJPY short from 121.16 (s/l 120.90 guarantees plus 26 pips)
USDCAD short from 1.1732 (s/l 1.1683 guarantees plus 49 pips)

Well, GU looks like it may be stopped out for a record loss - the first over 100 pips but if that's the case so be it.

The other 4 trades are currently up over 420 pips between them so would like to lock in a few more pips for the weekend. UJ is currently up nearly 200 pips & both UCHF & UCAD are up over 100.

I have to leave at 8pm gmt tomorrow to pick my son up from the airport so I will have to adjust any stop losses on open trades then. I hope the prices are far enough from their daily highs or lows not to effect the system but in this case he comes first.

As we head into the weekend I feel I am just coming out of the storm that has been the last few weeks. The market looks more amenable to my system these past few days and it really seemed an age since I saw positions up in the hundreds.

Kind Regards
Steve
  • #922
  • Feb 15, 2007 4:41pm Feb 15, 2007 4:41pm
steviets, when do you post your trade ideas
  • #923
  • Feb 15, 2007 5:36pm Feb 15, 2007 5:36pm
Quoting stdummy
steviets, when do you post your trade ideas
I post my trades and an update each day at 10pm gmt.

Kind Regards
Steve
  • #924
  • Feb 16, 2007 6:32am Feb 16, 2007 6:32am
Well, after flirting with its stop loss during the Asian session, London stopped out my GU for a loss of 131 pips. Funnily enough, after being my best performing pair in the last 3 months, its my worst this month by far. I guess its the most volatile of my pairings - that's why I don't trade GJ - be far too much for my little ticker to handle

My EU has just also had its stop loss hit to the pip (lowest so far 3108, my s/l 3107), before reversing for minus 24 pips.

A little annoying but ho hum - the remaining three trades are currently up by about 385 pips and should be able to lock in around 250 pips profit by tonight unless we get any earth shattering US positive news this afternoon.

Keeping on keeping on - may even give you some pip totals later Iso if I dare lol

Kind Regards
Steve
  • #925
  • Feb 16, 2007 12:11pm Feb 16, 2007 12:11pm
As I said in a previous post, I'm off to the airport in a few hours to pick up my eldest son. He's been on a football training course at Real Madrid.

As a result, I've taken the decision to adjust stop losses on the current trades a few hours early. It looks like the highs on my $ short positions have already been hit today so shouldn't effect anything. The only possible exception is UCAD if it decides to go out for a late night run lol.

As at the time of writing all 5 pairs I trade are within 10 pips of their starting price today so looks like we may have doji's on all pairs come close tonight.

OK, current trades....

USDCHF short from 1.2468 (s/l 1.2395 guarantees plus 73 pips)
USDJPY short from 121.16 (s/l 119.68 guarantees plus 148 pips)
USDCAD short from 1.1732 (s/l 1.1667 guarantees plus 65 pips)

So, we have locked in 286 pips of profit which makes up for the GU & EU losses earlier. You never know, come Monday night we may be able to lock in some more . Looking at the charts now I'd be inclined to go GU & EU long on Sunday so if I'm right, we may see more profits from the open trades.

Been a better week overall and we seem to have come out of that sticky patch with not too bad a loss.

Have a great weekend all

Kind Regards
Steve
  • #926
  • Feb 16, 2007 12:27pm Feb 16, 2007 12:27pm
Hey, good for him! Congratulations! Maybe one day he will make the team and then you don't have to worry about dojis no more

regards

frank

Quoting steviet
As I said in a previous post, I'm off to the airport in a few hours to pick up my eldest son. He's been on a football training course at Real Madrid.

As a result, I've taken the decision to adjust stop losses on the current trades a few hours early. It looks like the highs on my $ short positions have already been hit today so shouldn't effect anything. The only possible exception is UCAD if it decides to go out for a late night run lol.

As at the time of writing all 5 pairs I trade are within 10 pips of their starting price today so looks like we may have doji's on all pairs come close tonight.

OK, current trades....

USDCHF short from 1.2468 (s/l 1.2395 guarantees plus 73 pips)
USDJPY short from 121.16 (s/l 119.68 guarantees plus 148 pips)
USDCAD short from 1.1732 (s/l 1.1667 guarantees plus 65 pips)

So, we have locked in 286 pips of profit which makes up for the GU & EU losses earlier. You never know, come Monday night we may be able to lock in some more . Looking at the charts now I'd be inclined to go GU & EU long on Sunday so if I'm right, we may see more profits from the open trades.

Been a better week overall and we seem to have come out of that sticky patch with not too bad a loss.

Have a great weekend all

Kind Regards
Steve
  • #927
  • Feb 16, 2007 12:34pm Feb 16, 2007 12:34pm
Quoting milan47
Hey, good for him! Congratulations! Maybe one day he will make the team and then you don't have to worry about dojis no more

regards

frank


Anyway, I'm starting to like my dojis :

Kind Regards
Steve
  • #928
  • Feb 18, 2007 4:11pm Feb 18, 2007 4:11pm
OK, new week and two new trades on GU & EU. Both have gapped up but I was going long anyway - shame the price wasn't a better one.....

EURUSD long from 1.3157 (s/l 1.3083 guarantees minus 74 pips)
GBPUSD long from 1.9546 (s/l 1.9454 guarantees minus 92 pips)

Existing trades carried forward from last week....

USDCHF short from 1.2468 (s/l 1.2395 guarantees plus 73 pips)
USDJPY short from 121.16 (s/l 119.68 guarantees plus 148 pips)
USDCAD short from 1.1732 (s/l 1.1667 guarantees plus 65 pips)

Have a great week all

Kind Regards
Steve
  • #929
  • Edited Feb 19, 2007 7:53am Feb 18, 2007 6:38pm | Edited Feb 19, 2007 7:53am
Hi Steviet,

Thanks for sharing your very interesting and simple system. It seems like a really great way to trade.

I give below a link which may be of interest to any one following this method...its always nice to have a reference point for Candle charts

{link removed, see rule#3}


One question on the method if u don't mind. U are using 10% of the account at once which means 2% per pair? So am I right in thinking that the pairs are not in equal lots at any given time or the 2% figure is a rough estimate and U actually trade equal lots of each pair?

Many thanks
  • #930
  • Edited 7:53am Feb 19, 2007 1:38am | Edited 7:53am
Quoting Bad.hair.spray
Hi Steviet,

Thanks for sharing your very interesting and simple system. It seems like a really great way to trade.

I give below a link which may be of interest to any one following this method...its always nice to have a reference point for Candle charts
{link removed, see rule#3}
One question on the method if u don't mind. U are using 10% of the account at once which means 2% per pair? So am I right in thinking that the pairs are not in equal lots at any given time or the 2% figure is a rough estimate and U actually trade equal lots of each pair?

Many thanks
Hi,

Yes, I use 2% margin for each pair - in reality this may be slightly more or slightly less depending on my initial stop loss. For example, 2% would equal an initial stop loss of 100 pips on /USD pairs - on USD/ pairs 2% would equal less than 2%.

The stop losses are tightened each day until hit so in reality its far less than 10% at risk at any one time and often nowhere near this.

Kind Regards
Steve
  • #931
  • Feb 19, 2007 6:13am Feb 19, 2007 6:13am
Well, GU has me confounded again. After taking 1175 pips in November, December & January, I've lost 503 pips on it in February! Stopped out for minus 92 pips.

USDJPY has also been stopped out this morning for plus 148 pips.

EU still holding firm around the 1.3130 mark & am up just over 200 pips on USDCHF & USDCAD trades.

Kind Regards
Steve
  • #932
  • Edited 11:43am Feb 19, 2007 11:28am | Edited 11:43am
OK, my USDCAD was stopped out earlier for plus 65 pips. Happy with the profit obviously but I see it was stopped out at 13.29.54, just 6 seconds before Canadian news was due . Even worse, it wouldn't have even hit my stop loss if the spread hadn't been widened for the news event but I can deal with that.

Current trades open are USDCHF short which s currently up 134 pips, 106 of which I should be able to lock in later & EURUSD long which is currently minus 9 pips.

Kind Regards
Steve
  • #933
  • Feb 19, 2007 11:37am Feb 19, 2007 11:37am
I thought I'd post my thoughts so far and what I have learnt after nearly 4 months of live trading & testing both myself & my method. This will be useful for me when looking back.

1. Patience, discipline, sticking to the rules - this has been incredibly difficult for me, far moreso than I thought it would be but I feel I've done pretty well so far. I need to remain confident in my system & my ability to implement it knowing it will be and is successful long term.

2. I have come to the conclusion that the majority of my pips each year will probably come from 3-5 trades on each pair each year. The rest of the time I must stay strong and pick up pips where I can especially by catching what I call 'mini-trends' within ranges of a particular pair.

3. I'm still aiming for 6000 pips over the year but if I can manage half that I will be very pleased for my first year of live trading.

4. I need to accept there will be some months that are great, some average & some awful & must not get frustrated but look at the overall picture. Mistakes will be made but I musn't dwell on them but learn from them and not try to outwit the system. During times like early February I must not panic but keep the faith and then catch the trends when they appear.

This is where I am at after nearly a third of the way through my testing and overall I'm pretty happy with how it's going

Kind Regards
Steve
  • #934
  • Feb 19, 2007 11:51am Feb 19, 2007 11:51am
Quoting steviet
I thought I'd post my thoughts so far and what I have learnt after nearly 4 months of live trading & testing both myself & my method. This will be useful for me when looking back.

1. Patience, discipline, sticking to the rules - this has been incredibly difficult for me, far moreso than I thought it would be but I feel I've done pretty well so far. I need to remain confident in my system & my ability to implement it knowing it will be and is successful long term.

2. I have come to the conclusion that the majority of my pips each year will probably come from 3-5 trades on each pair each year. The rest of the time I must stay strong and pick up pips where I can especially by catching what I call 'mini-trends' within ranges of a particular pair.

3. I'm still aiming for 6000 pips over the year but if I can manage half that I will be very pleased for my first year of live trading.

4. I need to accept there will be some months that are great, some average & some awful & must not get frustrated but look at the overall picture. Mistakes will be made but I musn't dwell on them but learn from them and not try to outwit the system. During times like early February I must not panic but keep the faith and then catch the trends when they appear.

This is where I am at after nearly a third of the way through my testing and overall I'm pretty happy with how it's going

Kind Regards
Steve
Speaking for myself you have definitely much more patience and discipline than the rest of us. I am applying your strategy since January and I am pips positive, even though my exits are based more on fibs and Vegas. I am trading mostly cable and GBPJPY and the latter demands a lot of patience. A nice yo-yo play and constipation. From +93 to 0 this morning and again to +115. I am still in and the defibrillator is attached to my monitor..
Thank you for all your help.
Regards
frank
  • #935
  • Feb 19, 2007 11:58am Feb 19, 2007 11:58am
Quoting milan47
Speaking for myself you have definitely much more patience and discipline than the rest of us. I am applying your strategy since January and I am pips positive, even though my exits are based more on fibs and Vegas. I am trading mostly cable and GBPJPY and the latter demands a lot of patience. A nice yo-yo play and constipation. From +93 to 0 this morning and again to +115. I am still in and the defibrillator is attached to my monitor..
Thank you for all your help.
Regards
frank
- you crack me up

I may have more patience but you must have more bottle trading GBPJPY - I have done some backtesting on this and although you can catch some huge pips, the losses are larger than any other pair due to the volatility.

Congratulations on your results so far - GU has been a killer for me this month after being so good to me the previous 3 months. Today was a perfect example - went long at open from 1.9546, got stopped out for minus 92 pips & now it's trading round about 1.9530 again lol. Now, do I go long tonight again or is it just playing with me again

Kind Regards
Steve
  • #936
  • Feb 19, 2007 1:49pm Feb 19, 2007 1:49pm
GBPCHF is the mother of all pairs with even greater volitility than GBPJPY! The sell offs are a real-killer on this pair - upto 500 pips a pop!!!

It's good that you've written a short review. The hardest part in trading is sticking to your system through the tough times since you can't really recreate the same emotions back-testing or paper trading since the draw-downs ain't so real.

But if you feel this method suits you then stick to your guns! Also run some experiments on the side to see if you can find new insights into your approach...
  • #937
  • Feb 19, 2007 2:10pm Feb 19, 2007 2:10pm
Quoting Isotonic
GBPCHF is the mother of all pairs with even greater volitility than GBPJPY! The sell offs are a real-killer on this pair - upto 500 pips a pop!!!

It's good that you've written a short review. The hardest part in trading is sticking to your system through the tough times since you can't really recreate the same emotions back-testing or paper trading since the draw-downs ain't so real.

But if you feel this method suits you then stick to your guns! Also run some experiments on the side to see if you can find new insights into your approach...
Yup, I've looked at GBPCHF too and I'm not sure if I could withstand the volatility there either lol.

I've deviated a couple of times from my plan and each time I've been bitten so I'm even more determined to stick to it. I'm re-entering UJ in a couple of hours knowing that their interest rate decision is imminent - if rates are raised yen will strengthen, if not the carry trades will pile in again.

I can't pretend I know what's going to happen so all I can do is ignore the news and trade my plan. The system will soon tell me if I'm wrong and then I need to catch hold of whatever move transpires.

The fact that I have to trade this way due to work means I simply can't react to news events like intraday traders as I'm nowhere near a PC. Today was a great example - everything was looking GU bullish until the announcement. All I can do is make sure the stop losses are in place for such eventualities.

Anyhow, this last few days I've managed to salvage some pips so February won't be as bad as I was thinking. I'm determined to see this through and re-evaluate if necessary come November 1st.

Three good months and one bad so far is a good start. If I can make that 9-3 by the end of the test I'll be very happy. I really want to be able to do this as a sole source of income within the next 3-5 years and I think I can do it

Kind Regards
Steve
  • #938
  • Feb 19, 2007 4:11pm Feb 19, 2007 4:11pm
OK, end and beginning of another day - two trades still running......

EURUSD long from 1.3157 (s/l 1.3111 guarantees minus 46 pips)
USDCHF short from 1.2468 (s/l 1.2362 guarantees plus 106 pips)

Three new trades....

USDCAD short from 1.1640 (s/l 1.1673 guarantees minus 33 pips)
GBPUSD long from 1.9516 (s/l 1.9421 guarantees minus 95 pips)
USDJPY long from 119.57 (s/l 119.12 guarantees minus 45 pips)

Kind Regards
Steve
  • #939
  • Feb 20, 2007 2:14am Feb 20, 2007 2:14am
i think your timescales are good for the system you're running. maybe you could go full-time quicker depending on how you get on. still you have a sensible long-term plan to aim for which is good!

if you're trading daily charts, then if your stops are adequate, you shouldn't have to worry to much about intra-day price swings due to news. i've found with trading that less is very much more, and the number of decision points i cut down on the better i do! be wary of calendars, pundits, analyses etc if you're a daily technical trader!
  • #940
  • Feb 20, 2007 6:25am Feb 20, 2007 6:25am
OK, my USDCHF short was stopped out this morning on the back of disappointing Swiss news but hit my stop loss for a 106 pip gain.

The other 4 trades are still active with UJ long currently up by 62 pips. With BOJ decision tomorrow that may not mean much lol but let's see.

GU has been all over the place again, been in profit by 30 pips, been minus 40 pips, currently sitting around the 9500 mark. 9480 has so far provided good support.

EU is currently minus 20 but hasb't broken 3130 so again hopefully that will provide some support.

UCAD short is still bouncing between 1.1640 & 1.1660 not sure whether to bounce or see the 1.1500's.

Let's see what this afternoon brings and will update later again.

Running totals....

Pips: Nov +476, Dec +856, Jan +636, Feb -729
Cumulative since Nov 06: +1239
A/C Bal Increase: Nov +7.08, Dec +12.00, Jan +10.54, Feb -12.22

Kind Regards
Steve
1 trader viewing now