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Steviet's Live Trades!

  • #1,161
  • Mar 7, 2007 2:17pm Mar 7, 2007 2:17pm
No problem Dave - not looking forward to placing the new trades tonight but will just go with what the charts say in a couple of hours and turn off the pc

It does show that so far at least, sticking as close to your plan (as long as it's not a bad plan) as possible reaps rewards.

Let's see what tomorrow brings - may get stopped out of all trades for big losses and we'll be back to square one lol. Oh yes, and it's NFP on Friday too - deep joy

Kind Regards
Steve

Quoting forexdanofsa
Hey Steve,

Just wanted to say thanks for the sharing of your method of trading, it is really a motivation for people to see you stick with a method, I hope that after a year we can all see that this method is successful and we can all be profitable.

Dave
  • #1,162
  • Mar 7, 2007 2:20pm Mar 7, 2007 2:20pm
To add to the fun, I see EU keeps reversing at around 1.3180 & UCHF the same from 1.2170. My daily bars would tell me to go long EU & short UCHF tonight but to say I'm confident would be an outright lie lol.

Kind Regards
Steve
  • #1,163
  • Mar 7, 2007 2:50pm Mar 7, 2007 2:50pm
Quoting steviet
Hmmm,

Just been stopped out of GU short for plus 287 pips & UCHF long for minus 63 pips.

This means I'll need to re-enter in a couple of hours together with a new EU position. With interest rate decisions due it's not ideal but I must remember that on backtesting, news was not taken into consideration so I must just take positions from the charts.

Pips so far in March: +678
Cumulative since Nov 06: 1737
A/C Bal Increase: Nov06 +7.08%, Dec06 +12%, Jan07 +10.54%, Feb07 -14.54%, Mar07 +10.12%

Kind Regards
Steve
Well your method looks quite successful. Enough proof to stick to any method there. Did you post your method on this thread?

Sorry for the alte reply watching champions league
  • #1,164
  • Mar 7, 2007 3:06pm Mar 7, 2007 3:06pm
Hi nikim,

My method is explained from page 1 of this journal. It's been pretty succcessful so far but I'm testing it for a full year to prove it.

Kind Regards
Steve

Quoting nikim
Well your method looks quite successful. Enough proof to stick to any method there. Did you post your method on this thread?

Sorry for the alte reply watching champions league
  • #1,165
  • Mar 7, 2007 4:16pm Mar 7, 2007 4:16pm
OK, 2 current trades made it through the day and the USDCAD long has had stop loss tightened....

USDCAD long from 1.1770 (s/l 1.1736 guarantees minus 34 pips)
USDJPY short from 116.41 (s/l 116.84 guarantees minus 43 pips)

In view of my indecision on the new trades, I have gone for a cautious approach which keeps tight stop losses. Also,as mentioned earlier both EU & UCHF have reversed from these levels recently. As far as GU is concerned, it failed to build on yesterday's very bullish bar.

GBPUSD short from 1.9322 (s/l 1.9370 guarantees minus 48 pips)
USDCHF long from 1.2176 (s/l 1.2155 guarantees minus 21 pips)
EURUSD short from 1.3176 (s/l 1.3195 guarantees minus 19 pips)

There may be those that are surprised by my new trades but to me these are very low risk with a potential for good reward. Of course, announcements tomorrow may change all that but currently we have made some good pips this month and I want to hang onto them!!!!

Looking back, these have been price areas where reversals are more than possible so let's see.

Kind Regards
Steve
  • #1,166
  • Mar 7, 2007 4:21pm Mar 7, 2007 4:21pm
Well, well.....I have to say Steve, thats exactly my approach today too...
  • #1,167
  • Mar 7, 2007 4:29pm Mar 7, 2007 4:29pm
I think it's one of those days when it's the correct approach to limit any possible losses - I'm pleased we're thinking the same way on this.

I always hesitate when I choose a way opposite to the backtested method but I think there are very valid reasons today. If we get stopped out, hey, only small losses and we should have a better idea of direction this time tomorrow.

The system on average only wins around 30-40% trades & I wasn't prepared to risk so much when the charts look so indecisive.

Kind Regards
Steve

Quoting Xerof
Well, well.....I have to say Steve, thats exactly my approach today too...
  • #1,168
  • Mar 8, 2007 1:28am Mar 8, 2007 1:28am
Sheesh,

How annoying is that lol. USDJPY short stopped out for minus 43 pips - only 7 hours ago as I settled down to sleep it was plus 80!

It was looking the least likely of the 5 trades to be stopped out - the others are still hanging in there with their tight stop losses.

Kind Regards
Steve
  • #1,169
  • Mar 8, 2007 11:52am Mar 8, 2007 11:52am
Well, after a truly awful day at work (anyone got a job?? ), came back to find all 4 remaining trades going my way.

Currently up just over 200 pips....

GBPUSD short from 1.9622 - currently plus 32 pips
USDCHF long from 1.2176 - currently plus 100 pips
EURUSD short from 1.3183 - currently plus 46 pips
USDCAD long from 1.1770 - currently plus 32 pips

So, things looking good - what can go wrong? Oh no, it's NFP tomorrow - I'll either be stopped out for minus pips or be plus 500 by this time tomorrow

Full update later

Kind Regards
Steve
  • #1,170
  • Mar 8, 2007 4:16pm Mar 8, 2007 4:16pm
OK, stop losses tightened on the 4 open trades and a new USDJPY trade opened....

Current trades.....

GBPUSD short from 1.9322 (s/l 1.9364 guarantees minus 42 pips)
USDCHF long from 1.2176 (s/l 1.2155 guarantees minus 21 pips)
EURUSD short from 1.3176 (s/l 1.3193 guarantees minus 17 pips)
USDCAD long from 1.1770 (s/l 1.1756 guarantees minus 14 pips)

Although these trades are currently up over 200 pips, we need a reasonable day tomorrow to lock in some profits.

New trade.....

USDJPY long from 117.18 (s/l 115.44 guarantees minus 174 pips )

Big moves today in UJ means a big initial stop loss - let's hope we can tighten that considerably by this time tomorrow.

Kind Regards
Steve
  • #1,171
  • Mar 8, 2007 6:14pm Mar 8, 2007 6:14pm
Hi Steviet!

I was not aware of your journal, but my brother in law has been bugging me to come and watch your thread (which I will, eventually I will be reading the whole 79 pages thingy). My brother in law is totally impressed by your trading style and I must say: no wonder. Now I understand his excitement.

Before I take off to read this thread. The magical questions: Is the trading system being explained somewhere along the 79 pages? Don't understand me wrong, I do read WHOLE threads and do not trash the flow by asking stuff that is already there, but a simple YES or NO is sufficient. Is this "magic pill" being explained? Or is it "just" Stevies wonderful journal? (No sarcasm intended, I mean it. If it is just for the inspiration, I WILL read this whole thing...

Wish you many more Pips....(more?....tststs..1000 Pips in one month... )
  • #1,172
  • Mar 8, 2007 6:24pm Mar 8, 2007 6:24pm
Hi there Peter

It's just a simple system from a simple person lol that I backtested manually and thought OK, this could work. From that I've been live testing since November with pretty good results.

February was a real challenge (had 22 consecutive losses) but now March is upon us we're back in the pips.

The method itself is explained in the first few pages and hasn't changed - it's basically based on candlesticks & price action off the daily charts and that's about it.

I'm pretty new to this and this system does take nerve to trade - quite often I'll be a large amount of pips up & end up taking a loss. What it does allow though is to catch the hundred plus pip moves which more than make up for the losses. Average win rate is so far between 30/40% which is about right for a trend following system.

It's just gone midnight here so I'm off to bed but please have a read and let me know what you think.

Kind Regards
Steve

Quoting petercross
Hi Steviet!

I was not aware of your journal, but my brother in law has been bugging me to come and watch your thread (which I will, eventually I will be reading the whole 79 pages thingy). My brother in law is totally impressed by your trading style and I must say: no wonder. Now I understand his excitement.

Before I take off to read this thread. The magical questions: Is the trading system being explained somewhere along the 79 pages? Don't understand me wrong, I do read WHOLE threads and do not trash the flow by asking stuff that is already there, but a simple YES or NO is sufficient. Is this "magic pill" being explained? Or is it "just" Stevies wonderful journal? (No sarcasm intended, I mean it. If it is just for the inspiration, I WILL read this whole thing...

Wish you many more Pips....(more?....tststs..1000 Pips in one month... )
  • #1,173
  • Mar 8, 2007 6:26pm Mar 8, 2007 6:26pm


That made my post count 666, better get it to 667 before getting to sleep

Steve
  • #1,174
  • Mar 8, 2007 6:29pm Mar 8, 2007 6:29pm
Steve,

A little superstitious are we..I'd do the same! Thanks for your PM...Keep up the inspiring work.

Cheers,
NP
  • #1,175
  • Mar 8, 2007 6:31pm Mar 8, 2007 6:31pm
That's OK

Not usually but that number just caught my eye as I was about to sign off lol.

I'll keep going, you know that & here's to many pips for us both.

Kind Regards
Steve

Quoting Northpro
Steve,

A little superstitious are we..I'd do the same! Thanks for your PM...Keep up the inspiring work.

Cheers,
NP
  • #1,176
  • Mar 9, 2007 1:08am Mar 9, 2007 1:08am
steve, don't let the nfp put a voodoo spell on you!!

so today might be a double or nothing day...i see today is a double whammy with trade coming out as well.

i only mention it cos you mentioned it first (nfp) but really i would suggest turning off the calendar!!

Quoting steviet
Well, after a truly awful day at work (anyone got a job?? ), came back to find all 4 remaining trades going my way.

Currently up just over 200 pips....

GBPUSD short from 1.9622 - currently plus 32 pips
USDCHF long from 1.2176 - currently plus 100 pips
EURUSD short from 1.3183 - currently plus 46 pips
USDCAD long from 1.1770 - currently plus 32 pips

So, things looking good - what can go wrong? Oh no, it's NFP tomorrow - I'll either be stopped out for minus pips or be plus 500 by this time tomorrow

Full update later

Kind Regards
Steve
  • #1,177
  • Mar 9, 2007 1:32am Mar 9, 2007 1:32am
Nah, with the trade balance as well we normally get a real whipsawy day. As long as the trades have room to breathe which they have at the mo, then if it goes our way we shouldn't be spiked out. That's more annoying than the market going against you.

I guess you can't help knowing about upcoming news events but I'm trying not to let it influence my decisions.

Kind Regards
Steve

Quoting Isotonic
steve, don't let the nfp put a voodoo spell on you!!

so today might be a double or nothing day...i see today is a double whammy with trade coming out as well.

i only mention it cos you mentioned it first (nfp) but really i would suggest turning off the calendar!!
  • #1,178
  • Mar 9, 2007 6:56am Mar 9, 2007 6:56am
OK, first casualty of the day - USDCAD short stopped out for minus 14 pips. Darn those Canadians & their good news

Much volatility to come in the next few hours no doubt - I'll be at work so I'll have to check later.

Kind Regards
Steve
  • #1,179
  • Mar 9, 2007 8:47am Mar 9, 2007 8:47am
well nfp came out good for the usd. hopefully it would be a start of a good trend up for usd for the rest of the month
  • #1,180
  • Mar 9, 2007 11:35am Mar 9, 2007 11:35am
Hehe,

Yes, just got in from work to find I'm up about 360 pips

Can only lock in around 40 or 50 tonight but basically the 4 open trades are free trades from now on

It's Friday & Steve is officially one happy chappy

Kind Regards
Steve

Quoting hilmy83
well nfp came out good for the usd. hopefully it would be a start of a good trend up for usd for the rest of the month
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