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Steviet's Live Trades!

  • #1,101
  • Mar 2, 2007 11:50am Mar 2, 2007 11:50am
Hehe,

Well it's definitely been my week this week - been good to get on this train - UJ did briefly go up over the 400 pip mark but will be able to lock in a guaranteed 267 pips on it tonight.

Full update & thoughts later

Kind Regards
Steve

Quoting coastalfx
When I woke up this am and saw the Yen had fallen even further I wanted to go back to sleep and wake up again!

Lately, I keep waking up to more pips... lol

All the best,
Jackie
  • #1,102
  • Mar 2, 2007 2:39pm Mar 2, 2007 2:39pm
take a couple of hours quiet time this weekend and review your trades against your plan. after a bad feb there must be plenty of mistakes in there to prune away!

it's times like this you will really learn alot since you have now a bit of perspective in march. trust me, if you do it well, you will improve rapidly and trade more consistently in the future - much more like a pro. again reviews is something few people do properly, or even have a process to follow.

so the negative equity curve is over!! lets see if you can take out the previous high!!!
  • #1,103
  • Mar 2, 2007 3:01pm Mar 2, 2007 3:01pm
A couple of hours quiet time??? Don't you realise I work Saturday, football Sunday, 2 loud crazy kids & that's not even mentioning the wife!!!

Seriously though, you are right - actually have been able to look through Feb's trades over the past few days. When you're in a trend like we've been, there's nothing else to do but move the stop losses and watch the pips pile up . There's a few trades that I would have played differently although I would still have done very well to get anywhere near break even in Feb.

I have learned a heck of a lot though and you were right, it could well be my most important month with regards to psychology, belief in myself & the system etc.

Yes, have not had a bad start to March - it was helped by the carry over from the last week of Feb - that's when things started turning around again. As I've said before, the figures are slightly scewed because if I'd closed trades on 28th Feb and not carried them over, Feb's figures wouldn't have looked that scary overall. I apreciate though that it was a pretty big drawdown and should be about as much as I have to suffer (famous last words lol).

Closed trades so far in March are plus 178 pips, open trades currently plus 650 pips with just under 300 of those pips locked in for guaranteed profit. On the up again and the markets are looking a lot more condusive to steviet type trading hehe.

Cheers Iso, have a great weekend yourself & thanks for the words.

Kind Regards
Steve

Quoting Isotonic
take a couple of hours quiet time this weekend and review your trades against your plan. after a bad feb there must be plenty of mistakes in there to prune away!

it's times like this you will really learn alot since you have now a bit of perspective in march. trust me, if you do it well, you will improve rapidly and trade more consistently in the future - much more like a pro. again reviews is something few people do properly, or even have a process to follow.

so the negative equity curve is over!! lets see if you can take out the previous high!!!
  • #1,104
  • Mar 2, 2007 4:53pm Mar 2, 2007 4:53pm
Well, what a week that was!! 4 trades carried into the weekend....

EURUSD short from 1.3184 (s/l 1.3211 guarantees minus 27 pips)
USDCAD long from 1.1673 (s/l 1.1697 guarantees plus 24 pips)
GBPUSD short from 1.9619 (s/l 1.9597 guarantees plus 22 pips)
USDJPY short from 120.30 (s/l 117.93 guarantees plus 267 pips)

EURUSD - tested 1.3200 but struggled - hopefully it will turn from here but s/l is tight anyhow - currently minus 11 pips.

USDCAD - moved up nicely and s/l now in profit - currently plus 97 pips.

GBPUSD - fell at last and s/l now just in profit - currently plus 180 pips.

USDJPY - stop loss moved a further 100 pips into profit - currently plus 380 pips.

So, open trades are currently up by 646 pips of which we have locked in 286 guaranteed pips.

Will have to open a USDCHF trade on Sunday - on the candlestick alone would normally go short. However, I have a mind to go long here as it has tried and failed to breach support at 1.2145 for 4 consecutive days. The risk would be fairly low too at the current price. I'll post a chart over the weekend to explain my thinking.

Have a great weekend all

Kind Regards
Steve
  • #1,105
  • Mar 2, 2007 5:01pm Mar 2, 2007 5:01pm
Yes, it's a great start to March alright.... you have a good weekend too m8

Check out the "you know what" ......you'll cringe at the demo trade results...lol

All the best

Xerof
  • #1,106
  • Mar 2, 2007 5:02pm Mar 2, 2007 5:02pm
OK bro - I'll check it out

Have a good one.

Steve

Quoting Xerof
Yes, it's a great start to March alright.... you have a good weekend too m8

Check out the "you know what" ......you'll cringe at the demo trade results...lol

All the best

Xerof
  • #1,107
  • Mar 3, 2007 9:23am Mar 3, 2007 9:23am
Hi Steviet,

I have been following your trades through the scary February. I can only say that I admire your consistency and discipline. I have been following your method on demo mode, and almost bailed on Feb. I do not know if I will have the stomach for months like feb if I was live trading. But that is the purpose of your system..right? Get the confidence needed to hold the boat staedy thru stormy seas, and enjoy the sailing when the wind is with you.
So...congrats again.And may the winds keep blowing in your favor.
  • #1,108
  • Mar 3, 2007 9:40am Mar 3, 2007 9:40am
Thanks

February was probably the month that I will look back on as my best month - that's psychologically speaking lol.

I knew from backtesting that I may get a few months like that but it's a whole different ball game trading it live and coming out the other side!

As you say, we are now back on the ball with some good market movement and have therefore been able to take advantage so far this month. We haven't had a 1000 pip month yet but from backtesting we should have a couple of those too. In previous months have been up over the 1000 pip mark but dropped down again by month end.

It's all about patience, discipline, belief in yourself & your method whatever that may be.

Anyhow, enough of my ramblings - it's the weekend

Kind Regards
Steve

Quoting alcastro
Hi Steviet,

I have been following your trades through the scary February. I can only say that I admire your consistency and discipline. I have been following your method on demo mode, and almost bailed on Feb. I do not know if I will have the stomach for months like feb if I was live trading. But that is the purpose of your system..right? Get the confidence needed to hold the boat staedy thru stormy seas, and enjoy the sailing when the wind is with you.
So...congrats again.And may the winds keep blowing in your favor.
  • #1,109
  • Mar 3, 2007 3:24pm Mar 3, 2007 3:24pm
Quoting steviet
Will have to open a USDCHF trade on Sunday - on the candlestick alone would normally go short. However, I have a mind to go long here as it has tried and failed to breach support at 1.2145 for 4 consecutive days. The risk would be fairly low too at the current price. I'll post a chart over the weekend to explain my thinking.
OK,

Attached is the daily chart for USDCHF as promised. On backtesting, I would have used the candlestick alone and gone short but going long at Sunday open (unless it opens under 1.2145) seems the way to go with little risk involved. Backing up the theory is EURUSD (heavily inversely correlated) looks very tired at 1.3200 and should drop from here.

Kind Regards
Steve
Attached Image
  • #1,110
  • Mar 3, 2007 10:14pm Mar 3, 2007 10:14pm
Quoting steviet
OK,

Attached is the daily chart for USDCHF as promised. On backtesting, I would have used the candlestick alone and gone short but going long at Sunday open (unless it opens under 1.2145) seems the way to go with little risk involved. Backing up the theory is EURUSD (heavily inversely correlated) looks very tired at 1.3200 and should drop from here.

Kind Regards
Steve
Hi Steve,

Im assuming that you noticed the falling three method that formed here (not exactly, since there are only two candles in between). That could suggest further selling. Although I agree, there is support right at the current level and another key support at .2115. I guess a wise thing to do would be to wait and see some more confirmation before entering. Anyways, good luck!
Attached Image
  • #1,111
  • Mar 4, 2007 5:52am Mar 4, 2007 5:52am
Hi,

Thanks for this - my system calls for me to enter the trade at Sunday open so that's what I'll do. I managed to catch over a hundred pips on the way down from 1.2378 before getting stopped out at 1.2245 just after Friday open.

I don't know how much you have read of my journal or method but my 2 choices at open Sunday are either going long at around 1.2170 with s/l at 1.2135 (risk 35 pips) or shorting with s/l at 1.2272 (risk 102 pips).

Thanks for posting your chart and I do see what you're getting at - let's see what the market brings next week....

Kind Regards
Steve

Quoting zawodowiec
Hi Steve,

Im assuming that you noticed the falling three method that formed here (not exactly, since there are only two candles in between). That could suggest further selling. Although I agree, there is support right at the current level and another key support at .2115. I guess a wise thing to do would be to wait and see some more confirmation before entering. Anyways, good luck!
  • #1,112
  • Mar 4, 2007 1:30pm Mar 4, 2007 1:30pm
hey stevie, did you find time to do a quick review in your mad weekend!?

i don't trade this pair (one of the few i don't follow actually) but i thought it would be interesting to analyse what you've done!

man, scribbling on somebody else's charts brings back memories...
Attached Image
  • #1,113
  • Mar 4, 2007 1:35pm Mar 4, 2007 1:35pm
Just for the record Stevie, I am sticking with the system on this one. I have went short USD/CHF... let's see what happens. I am very methodical with my trading often lacking some of the emotion that I probably should have.

However, I am also on a demo account. So that makes a big difference but I try my best to trade as if it was real world. Here is to another great week!!

Happy Pips,
Jackie
  • #1,114
  • Mar 4, 2007 1:39pm Mar 4, 2007 1:39pm
Hehe,

Excellent scribbling - my youngest would be proud - mind you, I don't understand their homework half the time either lol.

Are you trying to say I may be a little keen to go long here? OI must admit I would normally wait for some confirmation first. It's a tricky call after last weeks madness.

Yes, I did do some looking back over last month's trades - to be honest there would still not be a great deal of difference in the calls I made but I could have saved myself a few hundred pips in an ideal world.

Hmm, I'm starting to think that I should just blindly follow my system (ie going short) until I get that confirmation - after all I've done OK so far doing just that. I'll have a think whilst watching Top Gear with the boys lol.

Kind Regards
Steve

Quoting Isotonic
hey stevie, did you find time to do a quick review in your mad weekend!?

i don't trade this pair (one of the few i don't follow actually) but i thought it would be interesting to analyse what you've done!

man, scribbling on somebody else's charts brings back memories...
  • #1,115
  • Mar 4, 2007 1:42pm Mar 4, 2007 1:42pm
Hi again Jackie,

Methinks Steve is trying to be too clever again and should do just that lol. Remember the last time I tried to be too clever it cost me pips.

I don't like weekends - causes me to think too much - thanks for putting me back on track guys

Have a great week all.

Kind Regards
Steve

Quoting coastalfx
Just for the record Stevie, I am sticking with the system on this one. I have went short USD/CHF... let's see what happens. I am very methodical with my trading often lacking some of the emotion that I probably should have.

However, I am also on a demo account. So that makes a big difference but I try my best to trade as if it was real world. Here is to another great week!!

Happy Pips,
Jackie
  • #1,116
  • Mar 4, 2007 4:04pm Mar 4, 2007 4:04pm
OK, start of a new week - 4 trades carried over from last week....

EURUSD short from 1.3184 (s/l 1.3211 guarantees minus 27 pips)
USDCAD long from 1.1673 (s/l 1.1697 guarantees plus 24 pips)
GBPUSD short from 1.9619 (s/l 1.9597 guarantees plus 22 pips)
USDJPY short from 120.60 (s/l 117.93 guarantees plus 267 pips)

New trade (following the method by the book)........

USDCHF short from 1.2163 (s/l 1.2272 guarantees minus 109 pips)


Kind Regards
Steve
  • #1,117
  • Mar 4, 2007 5:13pm Mar 4, 2007 5:13pm
EU stopped out for minus 27 pips - current trades up by plus 680 pips so would hope to lock in some more profit by Monday close.

Kind Regards
Steve
  • #1,118
  • Mar 4, 2007 6:09pm Mar 4, 2007 6:09pm
Time for bed now.....

UJ currently plus 471
GU currently plus 316
UCAD currently plus 98
UCHF currently plus 4 (jury still out there lol)

I'll sleep well I think

Kind Regards
Steve
  • #1,119
  • Mar 5, 2007 1:34am Mar 5, 2007 1:34am
i was just having a bit of fun really, scribbling away!!

actually to me it looks like a wait and see situation, so i would be doing nothing at all right now. the circles are good entry points previously.

good to see you did a review! in reality it shouldn't take more than an hour once you're in a routine. best time for it might be before the sunday open. if you can't see much you did wrong then give yourself a pat on the back. better still would be have a trading partner you can be accountable to who could independently check your results.

btw, if you haven't read rob booker's free e-books then give them a quick read. they discuss some of these topics in a bit more depth. email him at [email protected] for the links (tell him iso sent you)...
Quoting steviet
Hehe,

Excellent scribbling - my youngest would be proud - mind you, I don't understand their homework half the time either lol.

Are you trying to say I may be a little keen to go long here? OI must admit I would normally wait for some confirmation first. It's a tricky call after last weeks madness.

Yes, I did do some looking back over last month's trades - to be honest there would still not be a great deal of difference in the calls I made but I could have saved myself a few hundred pips in an ideal world.

Hmm, I'm starting to think that I should just blindly follow my system (ie going short) until I get that confirmation - after all I've done OK so far doing just that. I'll have a think whilst watching Top Gear with the boys lol.

Kind Regards
Steve
  • #1,120
  • Mar 5, 2007 1:44am Mar 5, 2007 1:44am
Hi Iso,

Now, normally I hate Monday mornings but with the 4 open positions up over 1000 pips I'll make an exception . Last night's Asian session was the most volatile I've ever seen - GJ was down over 400 pips in 2 hours - crazy.

Actually, the first books I read on forex were by Rob Booker (the free e-books) from his piptopia site, which gave me a good grounding.

I'm in contact with a few traders here & elsewhere via pm's & yahoo messenger who have been invaluable support. In most cases we trade completely different systems but one thing is the same - the mindset.

Thanks for your continued input here - it really is very much appreciated & I'm indebted to you & others, keeping me on the straight & narrow.

Kind Regards
Steve

Quoting Isotonic
i was just having a bit of fun really, scribbling away!!

actually to me it looks like a wait and see situation, so i would be doing nothing at all right now. the circles are good entry points previously.

good to see you did a review! in reality it shouldn't take more than an hour once you're in a routine. best time for it might be before the sunday open. if you can't see much you did wrong then give yourself a pat on the back. better still would be have a trading partner you can be accountable to who could independently check your results.

btw, if you haven't read rob booker's free e-books then give them a quick read. they discuss some of these topics in a bit more depth. email him at [email protected] for the links (tell him iso sent you)...
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