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Steviet's Live Trades!

  • #1,281
  • Mar 20, 2007 7:42am Mar 20, 2007 7:42am
Hey Steve,

Thanks for the birthday wish, man! I'm glad to see that you caught a whiff of that GBP positive news! Keep up the good work! USD/JPY is boring me to death, and I'm not really sure anymore which way it's going to go..

Best of luck,

Kevin
  • #1,282
  • Mar 20, 2007 7:44am Mar 20, 2007 7:44am
HEy steve, i notive that when you select new trades you only set up a Sl value. So i am curious as to what method you use to exit your trades? Do you continoulsy move your SL until it gets hit, or do you have a S or R line that you look for or does your system tell you when to come out.

The reason why i am asking is because i am having trouble determining a TP level. I started out choosing an arbitarty number, such as 30(different TP #s for different pairs) . But then i noticed that i was unable to maximize my profits.So i added a runner. But i am still trying to find a way to maximize the value of my first lot.

Any suggestions are more that appreciated.

BTW, your day seemed like it turned out pretty nice (i hope thats not a demo).
  • #1,283
  • Mar 20, 2007 7:44am Mar 20, 2007 7:44am
No problem my friend,

Yup, been long GU since last Thursday & finally it's broken out nicely. UJ is currently in profit but the only thing keeping it up is the fact that the yen is even weaker than the dollar at the moment lol.

Have a great day

Kind Regards
Steve

Quoting kharvell
Hey Steve,

Thanks for the birthday wish, man! I'm glad to see that you caught a whiff of that GBP positive news! Keep up the good work! USD/JPY is boring me to death, and I'm not really sure anymore which way it's going to go..

Best of luck,

Kevin
  • #1,284
  • Mar 20, 2007 7:48am Mar 20, 2007 7:48am
Hi,

Yes, my stop loss is in effect my TP - that way if a trade runs and runs I catch most of the trend. Please bear in mind though that being a trend based system, the winners are around 30% which some people can't take.

You get very frustrating days but also days like today when the harvest comes in.

It's my first attempt at live trading so going OK so far.

Kind Regards
Steve

Quoting nikim
HEy steve, i notive that when you select new trades you only set up a Sl value. So i am curious as to what method you use to exit your trades? Do you continoulsy move your SL until it gets hit, or do you have a S or R line that you look for or does your system tell you when to come out.

The reason why i am asking is because i am having trouble determining a TP level. I started out choosing an arbitarty number, such as 30(different TP #s for different pairs) . But then i noticed that i was unable to maximize my profits.So i added a runner. But i am still trying to find a way to maximize the value of my first lot.

Any suggestions are more that appreciated.

BTW, your day seemed like it turned out pretty nice (i hope thats not a demo).
  • #1,285
  • Mar 20, 2007 4:09pm Mar 20, 2007 4:09pm
Well. it's been a great day overall & just need another average to good one tomorrow to lock in some big pips. 4 trades still running.....

USDJPY long from 117.54 (s/l 116.82 guarantees minus 72 pips)
USDCAD short from 1.1770 (s/l 1.1770 guarantees break even)
GBPUSD long from 1.9365 (s/l .9422 guarantees plus 57 pips)
EURUSD long from 1.3223 (s/l 1.3269 guarantees plus 46 pips)

Current positions...

USDJPY - minus 26 pips - looking a little vunerable with the dollar bearish sentiment. Have managed to halve the stop loss from yesterday.

USDCAD - plus 148 pips - s/l now at break even so hope to lock in at least 100 pips by this time tomorrow. Very happy with this trade - tried it two days ago and just got stopped out for a few pips to the pip. Today, it missed my stop loss by 2 pips then dropped like a stone

GBPUSD - plus 243 pips - only locked in 57 pips so far - looking to lock in at least 100 more by this time tomorrow. Been a slow burner this one and been in since last last Wednesday evening so patience is paying off.

EURUSD - plus 91 pips - still locked in 46 pips - has flirted with my s/l two days running - hopefully will push on tomorrow to give a few more pips.

New trade....

USDCHF short from 1.2115 (s/l 1.2173 guarantees minus 58 pips)

Was stopped out of my short today and gained a few pips and have gone short again following failure at the 1.2160/70 level.

Kind Regards
Steve
  • #1,286
  • Mar 21, 2007 7:27am Mar 21, 2007 7:27am
OK,

All 5 positions currently active......

USDCHF short from 1.2115 - currently minus 29 pips
USDJPY long from 117.54 - currently plus 20 pips
USDCAD short from 1.1770 - currently plus 156 pips
GBPUSD long from 1.9365 - currently plus 221 pips
EURUSD long from 1.3223 - currently plus 74 pips

I have implemented a new rule for the GU trade. It's really an extension of the rule I implemented a few days ago. That was...

If at any time a trade is plus 100 pips, s/l is brought to a minimum of b/e.

As GU has been (and still is) in excess of 200 pips up, s/l has been moved to 100 pips in profit. I should be able to lock in well in excess of that anyway tonight but it guarantees a few more pips if disaster strikes. This new rule will extend to trades that are 300, 400, 500 pips up whereby all but the last 100 pips will be locked in at worst.

Overall, trades looking OK - UCHF has disappointed slightly but UJ has now moved into profit after being over 70 pips minus yesterday at one point.

Full update at close...

Kind Regards
Steve
  • #1,287
  • Mar 21, 2007 7:47am Mar 21, 2007 7:47am
Hi Steve,

This looks like an interesting addition to your strategy. Just curious have you back tested this strategy?

Jackie
  • #1,288
  • Mar 21, 2007 7:58am Mar 21, 2007 7:58am
Hi Jackie,

Yes I have and also looked back on my live testing. It still keeps me in the trade as it's still giving me 100 pips minimum breathing space. Most times I'll put in on during the day when I'm not in just to protect me against any major correction.

I think in all it will save/make me more pips overall. Also, like UCAD for example - I'm currently at b/even although I'm 170 pips up, it only acts as a temporary measure before tonight when I should be able to lock in well in excess of 100 pips there anyway.

Kind Regards
Steve

Quoting coastalfx
Hi Steve,

This looks like an interesting addition to your strategy. Just curious have you back tested this strategy?

Jackie
  • #1,289
  • Mar 21, 2007 8:02am Mar 21, 2007 8:02am
Quoting steviet
OK,

All 5 positions currently active......

USDCHF short from 1.2115 - currently minus 29 pips
USDJPY long from 117.54 - currently plus 20 pips
USDCAD short from 1.1770 - currently plus 156 pips
GBPUSD long from 1.9365 - currently plus 221 pips
EURUSD long from 1.3223 - currently plus 74 pips

I have implemented a new rule for the GU trade. It's really an extension of the rule I implemented a few days ago. That was...

If at any time a trade is plus 100 pips, s/l is brought to a minimum of b/e.

As GU has been (and still is) in excess of 200 pips up, s/l has been moved to 100 pips in profit. I should be able to lock in well in excess of that anyway tonight but it guarantees a few more pips if disaster strikes. This new rule will extend to trades that are 300, 400, 500 pips up whereby all but the last 100 pips will be locked in at worst.

Overall, trades looking OK - UCHF has disappointed slightly but UJ has now moved into profit after being over 70 pips minus yesterday at one point.

Full update at close...

Kind Regards
Steve
Hey Steve,

Whats your take on the GBP/JPY pair. It looks like its at a peak and will be heading down soon. I'm short 230.45 currently at -34!
fall down seven times, get up eight!
  • #1,290
  • Mar 21, 2007 10:39am Mar 21, 2007 10:39am
Hi Steve

Your recent new rules mean that you are now using a 100 pip stepped trailing stop, of course until the bar closes when you move the stop to H/L +- 10; it is a very good step forward IMO.
Regards
  • #1,291
  • Mar 21, 2007 12:29pm Mar 21, 2007 12:29pm
Exactly Howard,

I think it's an improvement - my broker doesn't have a trailing stop facility but this 'stepped stop' approach should gain me a few extra pips here and there throughout the year.

Kind Regards
Steve

Quoting howard
Hi Steve

Your recent new rules mean that you are now using a 100 pip stepped trailing stop, of course until the bar closes when you move the stop to H/L +- 10; it is a very good step forward IMO.
  • #1,292
  • Mar 21, 2007 12:33pm Mar 21, 2007 12:33pm
Hi,

I don't trade GJ but I would have been long from 228.49 with stop loss currently at 229.49 (giving me 100 guaranteed pips) using my method. Assuming prices stay as they are, my s/l would be moved up to 229.80 tonight giving a guaranteed 131 pips.

It may well hit resistance soon but I would stay in my long until the s/l is hit and then make a new decision at the close of that daily bar.

Kind Regards
Steve

Quoting Adelb1985
Hey Steve,

Whats your take on the GBP/JPY pair. It looks like its at a peak and will be heading down soon. I'm short 230.45 currently at -34!
  • #1,293
  • Mar 21, 2007 1:41pm Mar 21, 2007 1:41pm
Quick update....

Thanks to the US news my GU just went to over 300 pips in profit - therefore stop has been moved to plus 200.

Fuller update later but as all but one of my positions is US bearish, current positions are currently up around the 650 pip mark. Market is still bouncing around like crazy so it'll be interesting to see where it settles.

Kind Regards
Steve
  • #1,294
  • Mar 21, 2007 1:44pm Mar 21, 2007 1:44pm
Bingo!!

We appear to be sitting with a royal flush.....lol
  • #1,295
  • Mar 21, 2007 1:54pm Mar 21, 2007 1:54pm
Hehe,

This is where patience can pay off big time - ok, you also have to be a little lucky but if you're already in the market with s/l set then this will happen from time to time.

Even my UJ long is holding up fairly well so far - my UCHF short missed my s/l by 4 pips just before the announcement and has gone from minus 50 to plus 25.

It'll be a nice update later - also great that I should still be in all 5 positions.

Cheers bro
Steve

-
Quoting Xerof
Bingo!!

We appear to be sitting with a royal flush.....lol
  • #1,296
  • Mar 21, 2007 1:58pm Mar 21, 2007 1:58pm
Quoting steviet
Hehe,

This is where patience can pay off big time - ok, you also have to be a little lucky but if you're already in the market with s/l set then this will happen from time to time.

Even my UJ long is holding up fairly well so far - my UCHF short missed my s/l by 4 pips just before the announcement and has gone from minus 50 to plus 25.

It'll be a nice update later - also great that I should still be in all 5 positions.

Cheers bro
Steve

-
I don't mind sharing a few pips, my CHF missed its target by 4pips to get stopped -39
  • #1,297
  • Mar 21, 2007 2:00pm Mar 21, 2007 2:00pm
doh!

sorry bro

Quoting turbokaos
I don't mind sharing a few pips my CHF missed its target by 4pips to get stopped -39
  • #1,298
  • Mar 21, 2007 4:09pm Mar 21, 2007 4:09pm
Well, we've had the kind of day I needed to lock in some pips with the promise of some more tomorrow all being well.

All 5 trades carry over to the new day - it's nice not having to make a decision tonight

Current trades.....

USDCHF short from 1.2115 (s/l 1.2173 guarantees minus 58 pips)
USDJPY long from 117.54 (s/l 117.06 guarantees minus 48 pips)
USDCAD short from 1.1770 (s/l 1.1644 guarantees plus 126 pips)
GBPUSD long from 1.9365 (s/l 1.9565 guarantees plus 200 pips)
EURUSD long from 1.3223 (s/l 1.3279 guarantees plus 56 pips)

USDCHF - currently plus 17 pips
USDJPY - currently minus 2 pips
USDCAD - currently plus 214 pips
GBPUSD - currently plus 312 pips
EURUSD - currently plus 160 pips

So, positions are currently up by 700 pips of which 276 pips are guaranteed. I would hope to lock in a few more by this time tomorrow.

Kind Regards
Steve
  • #1,299
  • Mar 21, 2007 4:20pm Mar 21, 2007 4:20pm
Looking good mate, this why you can't get down the days the is mkt down. Most months have 30days, and quarters have 3 of them
  • #1,300
  • Mar 21, 2007 4:24pm Mar 21, 2007 4:24pm
I don't reply to many posts these days, but I do want to say how nice it is too see your success. I make it a point to come everyday and watch your game of chess.

Keep up the awesome work.

Ken
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