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Steviet's Live Trades!

  • #1,321
  • Mar 23, 2007 12:46pm Mar 23, 2007 12:46pm
Well, this afternoon the market decided it was time to reap the harvest.

In addition to the EURUSD long stopped out for plus 77 pips, GBPUSD long was stopped out for +238 pips and USDCAD short for +165 pips

All good things must come to an end and it will be decision time on these three at Sunday open.

My UJ long from 117.54 is still hanging on in there at plus 37 pips as is my USDCHF short at minus 40 pips. S/L on UCHF may be hit later.

This has resulted in my monthly results looking much better - been a rollercoaster month - began by amassing 700 pips only for the market to take back 600 of them, now back up to plus 523 on closed trades.

March totals: +523 pips
Cumulative since Nov 06: +1582 pips

Kind Regards
Steve
  • #1,322
  • Mar 23, 2007 12:57pm Mar 23, 2007 12:57pm
man, if you get another good trending period you should make another 1000 pips at least!! but i wonder what your averages will be after 12 months - even 300 pips a month is not to be sniffed at!!!

during the slow months you just have to grind out small profits / minimize losses until the next big pay day...
  • #1,323
  • Mar 23, 2007 1:00pm Mar 23, 2007 1:00pm
keep in mind a lot of people are watching you because most simply can't hack it themselves!!! so more kudos to you steve and watch your views cruise past six figures shortly...

the key is taking out your equity high, and by following a system like this coupled with skill and determination you can do it, even if you can't time it...it's a question of when, not if...
  • #1,324
  • Mar 23, 2007 1:06pm Mar 23, 2007 1:06pm
I wondered where you had got to lol. Welcome back.

That's the plan Iso - I'm in a routine now and it feels good to be confident in both myself & my methods. I can even get away with a few bum trades (I think my next post may be my UCHF short stopping out lol).

I'll come out a few thousand pips up by the end of the year I'm sure just by doing what I do.

That was tempting fate lol - UCHF stopped out for minus 50 pips.

I'll spare you the totals - even I can do that calculation lol but account balance has increased by 7.14% so far this month with 33.33% success ratio.

Kind Regards
Steve

Quoting Isotonic
man, if you get another good trending period you should make another 1000 pips at least!! but i wonder what your averages will be after 12 months - even 300 pips a month is not to be sniffed at!!!

during the slow months you just have to grind out small profits / minimize losses until the next big pay day...
  • #1,325
  • Edited 1:24pm Mar 23, 2007 1:09pm | Edited 1:24pm
Thanks for your encouragement bro - people like yourself, turbo & Northpro to name but three have really helped me to stay focused on the job in hand.

I know I'm starting with little equity but I feel I'm getting primed for the real challenges ahead as the balance increases.

Quoting Isotonic
keep in mind a lot of people are watching you because most simply can't hack it themselves!!! so more kudos to you steve and watch your views cruise past six figures shortly...

the key is taking out your equity high, and by following a system like this coupled with skill and determination you can do it, even if you can't time it...it's a question of when, not if...
  • #1,326
  • Mar 23, 2007 1:11pm Mar 23, 2007 1:11pm
Quoting steviet
I wondered where you had got to lol. Welcome back.

That's the plan Iso - I'm in a routine now and it feels good to be confident in both myself & my methods. I can even get away with a few bum trades (I think my next post may be my UCHF short stopping out lol).

I'll come out a few thousand pips up by the end of the year I'm sure just by doing what I do.

That was tempting fate lol - UCHF stopped out for minus 50 pips.

I'll spare you the totals - even I can do that calculation lol but account balance has increased by 7.14% so far this month with 33.33% success ratio.

Kind Regards
Steve
Hey Steve

I'm one of those 'viewers' that Iso referred to - I check in every day to see how you're doing! I think you have a great system, a great attitude and your discipline is an inspiration! Keep going!
  • #1,327
  • Mar 23, 2007 1:17pm Mar 23, 2007 1:17pm
Hey princess

I've seen you lurking around hehe - thanks for the compliments - the system is fine, it's just me that throws a spanner in the works from time to time

Anyhow, welcome to the thread!

Kind Regards
Steve

Quoting forexprincess
Hey Steve

I'm one of those 'viewers' that Iso referred to - I check in every day to see how you're doing! I think you have a great system, a great attitude and your discipline is an inspiration! Keep going!
  • #1,328
  • Mar 23, 2007 1:21pm Mar 23, 2007 1:21pm
Quoting steviet
Well, this afternoon the market decided it was time to reap the harvest.

In addition to the EURUSD long stopped out for plus 77 pips, GBPUSD long was stopped out for +238 pips and USDCAD short for +165 pips

All good things must come to an end and it will be decision time on these three at Sunday open.

My UJ long from 117.54 is still hanging on in there at plus 37 pips as is my USDCHF short at minus 40 pips. S/L on UCHF may be hit later.

This has resulted in my monthly results looking much better - been a rollercoaster month - began by amassing 700 pips only for the market to take back 600 of them, now back up to plus 523 on closed trades.

March totals: +523 pips
Cumulative since Nov 06: +1582 pips

Kind Regards
Steve
Great work Steve..keep it up.

Northpro
  • #1,329
  • Mar 23, 2007 1:26pm Mar 23, 2007 1:26pm
Thanks bro - would've been great to carry all 5 trades into theweekend but musn't be greedy lol.

By the way, thanks for all your help and support too - it's really appreciated

Kind Regards
Steve

Quoting Northpro
Great work Steve..keep it up.

Northpro
  • #1,330
  • Mar 23, 2007 4:43pm Mar 23, 2007 4:43pm
OK, last post of the week. Only one trade carried over to the weekend....

USDJPY long from 117.54 (s/l 117.30 guarantees minus 24 pips)

UJ is currently trading at 118.12 - would like to see it push through the 118.30 area by Monday close as it has failed at this area on a few occasions since 'the big drop'.

Sunday I'll be opening 4 new trades and I can tell you now they will be GU & EU short, together with UCHF & UCAD long. The dollar has recovered across the board today with stronger than expected housing data. Let's see if the dollar bulls are going to come out to play early next week or whether it's just a minor correction from most of this week's moves.

Have a great weekend all & catch you all later.

Kind Regards
Steve
  • #1,331
  • Mar 24, 2007 2:55am Mar 24, 2007 2:55am
I want to congratulate you for your great work and winning system. Although some recent stops were triggered, you still managed to win pips- ie on the + side Thanks for creating this thread.
Enter Signature
  • #1,332
  • Mar 24, 2007 3:15pm Mar 24, 2007 3:15pm
Hey Steve,

I am also 1 of those traders that stop by your journal everyday. I think what makes your journal great is it really shows the hard work that goes into trading. I’ve been toying with the idea of starting my own journal, but it takes a lot of work and time to really maintain journals. You are doing a great job! Keep up the good work.

Happy Trading 2 U …
If it is not broken, fix it until it is!
  • #1,333
  • Mar 24, 2007 3:19pm Mar 24, 2007 3:19pm
Thanks Pipex (& Bandana too),

There are some pros and cons about doing your own journal but the pros definitely outweigh the cons.

It keeps me focused, disciplined (coz I know you are watching lol), honest and I've met some great people both through the thread & by PM along my journey.

It can be a hassle sometimes (& painful after a bad day), but I think I may miss it once the year of testing is up.

Thanks again

Kind Regards
Steve

Quoting Pipex
Hey Steve,

I am also 1 of those traders that stop by your journal everyday. I think what makes your journal great is it really shows the hard work that goes into trading. I’ve been toying with the idea of starting my own journal, but it takes a lot of work and time to really maintain journals. You are doing a great job! Keep up the good work.

Happy Trading 2 U …
  • #1,334
  • Mar 25, 2007 10:40am Mar 25, 2007 10:40am
Quoting steviet
Well, this afternoon the market decided it was time to reap the harvest.

In addition to the EURUSD long stopped out for plus 77 pips, GBPUSD long was stopped out for +238 pips and USDCAD short for +165 pips

All good things must come to an end and it will be decision time on these three at Sunday open.

My UJ long from 117.54 is still hanging on in there at plus 37 pips as is my USDCHF short at minus 40 pips. S/L on UCHF may be hit later.

This has resulted in my monthly results looking much better - been a rollercoaster month - began by amassing 700 pips only for the market to take back 600 of them, now back up to plus 523 on closed trades.

March totals: +523 pips
Cumulative since Nov 06: +1582 pips

Kind Regards
Steve
Hi Steviet, seems like you found a way to beat the charts. Congratulations!

Something that crossed my mind however when reading this awesome thread was this: sometimes I see your "pips for the month" are above 1000 and then I see at the "end" (means now) you made +1582 pips...

Then I ask myself, where have the other pips gone? So, suppose when at a moment in a month your monthly pipscore hits the 1000 level, why not "call it a month", close all your open losing trades (and let your open winning trades run)? Then at the beginning of the next month start from scratch. Wouldn't that make for a higher average?

I don't know for sure if this strategy would/could work, it's just a thought to make things even more (simple and) profitable.

  • #1,335
  • Mar 25, 2007 1:10pm Mar 25, 2007 1:10pm
Hi Amatpro,

Firstly, thanks for your comments.

There are a great deal of tweaks that could be made to my method and I know there are a few traders using the basics of my method but trading it slightly differently to me.

I've thought about this variation too but at present my aim is to stay as close to the way I backtested as possible. It's by no means perfect or anywhere near but I don't believe any system is. The actual trading of a system is what is paramount to the trader's success in my opinion.

Everywhere I look, I see that only a small % of traders are successful consistently on a long term basis. I aim to be one of those and to get to where I want to be I must stay single minded and true to my method.

I've added a couple of rules in the last few weeks that I believe will enhance the system and I may add a few more in the future. However, the aim is to keep it as simple as possible.

I leave a lot of pips on the table but that comes with the territory & the way this particular method is set up. It's only my first year and if I can come up with any sort of profit I'll be happy. Whether that's 1000, 3000 or 5000 pips won't bother me - so far it equates to about 3600 or 4.4% increase in account balance per month.

Of course, we may have another couple of poor months before the year is up - conversely we may have a couple of 1000+ pip months to come.

All I can do is trade what I see and the results will be there at the end of October.

Kind Regards
Steve



Quoting AmatPro
Hi Steviet, seems like you found a way to beat the charts. Congratulations!

Something that crossed my mind however when reading this awesome thread was this: sometimes I see your "pips for the month" are above 1000 and then I see at the "end" (means now) you made +1582 pips...

Then I ask myself, where have the other pips gone? So, suppose when at a moment in a month your monthly pipscore hits the 1000 level, why not "call it a month", close all your open losing trades (and let your open winning trades run)? Then at the beginning of the next month start from scratch. Wouldn't that make for a higher average?

I don't know for sure if this strategy would/could work, it's just a thought to make things even more (simple and) profitable.

  • #1,336
  • Mar 25, 2007 1:49pm Mar 25, 2007 1:49pm
Quoting steviet
Hi Amatpro,

Firstly, thanks for your comments.

There are a great deal of tweaks that could be made to my method and I know there are a few traders using the basics of my method but trading it slightly differently to me.

I've thought about this variation too but at present my aim is to stay as close to the way I backtested as possible. It's by no means perfect or anywhere near but I don't believe any system is. The actual trading of a system is what is paramount to the trader's success in my opinion.

Everywhere I look, I see that only a small % of traders are successful consistently on a long term basis. I aim to be one of those and to get to where I want to be I must stay single minded and true to my method.

I've added a couple of rules in the last few weeks that I believe will enhance the system and I may add a few more in the future. However, the aim is to keep it as simple as possible.

I leave a lot of pips on the table but that comes with the territory & the way this particular method is set up. It's only my first year and if I can come up with any sort of profit I'll be happy. Whether that's 1000, 3000 or 5000 pips won't bother me - so far it equates to about 3600 or 4.4% increase in account balance per month.

Of course, we may have another couple of poor months before the year is up - conversely we may have a couple of 1000+ pip months to come.

All I can do is trade what I see and the results will be there at the end of October.

Kind Regards
Steve
You are 100% right. Before putting in any changes in your system you need sufficient time to be able to make a solid evaluation. I think of trying a couple of strategies simultaneously, and yours will surely be one of them - I like the logic simplicity of it a lot.

grtz,
amat
  • #1,337
  • Mar 25, 2007 4:09pm Mar 25, 2007 4:09pm
Well, another week is upon us and 4 new trades placed.....

USDCAD long from 1.1608 (s/l 1.1549 guarantees minus 59 pips)
USDCHF long from 1.2195 (s/l 1.2103 guarantees minus 92 pips)
GBPUSD short from 1.9612 (s/l 1.9701 guarantees minus 89 pips)
EURUSD short from 1.3283 (s/l 1.3353 guarantees minus 70 pips)

These join the sole trade carried into the weekend....

USDJPY long from 117.54 (s/l 117.30 guarantees minus 24 pips)

Total risk at present is 334 pips - first day of a new trade carries the largest risk and we have 4 of them. No worries

Have a great week everyone!

Kind Regards
Steve
  • #1,338
  • Mar 25, 2007 5:16pm Mar 25, 2007 5:16pm
reading the journal ...mid way....enjoying the entire journey so far...learning so much ....

to get me up to date for the present...u closed last weeks trades and

sunday march 25 u have entered these new trades mentioned in ur last post?? so u did not trail last weeks trades?? when do u exit trades?? did all ur trailing stops hit??

sorry to be slightly behind on the plan...could u explain..

i have a demo goin from last week, trades entered on thursday...all goin in the right direction(same direction as ur new list of trades) and doing well...except usdjpy...i may take a loss on that one and get going in the right direction.


thx for ur info and journal...

river
  • #1,339
  • Mar 25, 2007 5:26pm Mar 25, 2007 5:26pm
Hi

Yes, 4 trades were stopped out Friday, 3 for big gains, so I have re-entered tonight. The UJ trade has been active since late last week.

Kind Regards
Steve

Quoting rivertraderfx2
reading the journal ...mid way....enjoying the entire journey so far...learning so much ....

to get me up to date for the present...u closed last weeks trades and

sunday march 25 u have entered these new trades mentioned in ur last post?? so u did not trail last weeks trades?? when do u exit trades?? did all ur trailing stops hit??

sorry to be slightly behind on the plan...could u explain..

i have a demo goin from last week, trades entered on thursday...all goin in the right direction(same direction as ur new list of trades) and doing well...except usdjpy...i may take a loss on that one and get going in the right direction.


thx for ur info and journal...

river
  • #1,340
  • Mar 26, 2007 9:24am Mar 26, 2007 9:24am
Quoting steviet
Well, another week is upon us and 4 new trades placed.....

USDCAD long from 1.1608 (s/l 1.1549 guarantees minus 59 pips)
USDCHF long from 1.2195 (s/l 1.2103 guarantees minus 92 pips)
GBPUSD short from 1.9612 (s/l 1.9701 guarantees minus 89 pips)
EURUSD short from 1.3283 (s/l 1.3353 guarantees minus 70 pips)

These join the sole trade carried into the weekend....

USDJPY long from 117.54 (s/l 117.30 guarantees minus 24 pips)

Total risk at present is 334 pips - first day of a new trade carries the largest risk and we have 4 of them. No worries

Have a great week everyone!

Kind Regards
Steve
US news pretty much killed these trades...lets hope for a reversal..I got stopped out on the GBP/USD along with the USD/CHF...lol hoping for USD/CAD to rebound and get my losses back!!! GOOOOOOOO USD/CAD
fall down seven times, get up eight!
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