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Steviet's Live Trades!

  • #3,621
  • Feb 24, 2009 11:14am Feb 24, 2009 11:14am
Quoting steviet
Yup, always great to grab the pips however, days like yesterday should be made the most of to cover days like today when Steve manages to lose 2% going LONG on GJ whilst it rises 400 pips.

How do I do it??? LOL

ARGH!!! when that happens it really makes you crazy!! i understand where you are....
but hey! you know better then me... sticking to the plan!
  • #3,622
  • Feb 24, 2009 11:27am Feb 24, 2009 11:27am
Quoting Leonlorenzo
Am I correct to assume you have been managing money for others for some time now Steve? Any tips or advise on how you got to that point?
Hi there,

Yes sure - I sort of fell into it purely by writing this journal and keeping it going for such a long time. I started receiving PMs and it has gone from there. I guess people got to know me via my daily report and I've built up friendships over time. It wasn't the point of the journal, far from it but just sort of happened lol

I'm not actually managing an account at this time but trading a fellow FF member's account jointly and also another for a bank.

Kind Regards
Steve
  • #3,623
  • Feb 24, 2009 11:35am Feb 24, 2009 11:35am
Quoting steviet
Hi there,

Yes sure - I sort of fell into it purely by writing this journal and keeping it going for such a long time. I started receiving PMs and it has gone from there. I guess people got to know me via my daily report and I've built up friendships over time. It wasn't the point of the journal, far from it but just sort of happened lol

I'm not actually managing an account at this time but trading a fellow FF member's account jointly and also another for a bank.

Kind Regards
Steve
Great work steve.

Your one of the (few) ones that are very easy to trust on this forum. Your character comes though in your post history has undoubtably helped you along.

I hope ill be where you are in a couple of years.

Keep it up.

Leon
Living the adventure in my head.
  • #3,624
  • Feb 24, 2009 11:42am Feb 24, 2009 11:42am
Quoting Beman
ARGH!!! when that happens it really makes you crazy!! i understand where you are....
but hey! you know better then me... sticking to the plan!
LOL,

You gotta laugh or you'd cry!

Was long firstly at 139.68 at a new high and it immediately retraced and stopped me out for a couple of pips. Shortly afterward it attempted new highs and I go long at 139.74, same happens again.

At this point I decide to turn off the pc to clear my head and next thing I know we are at 139.70 yet again. OK, this time I'm not getting sucked in so I decide to leave the set up. Where are we now? 140.50? LOL, exactly what I was expecting to happen for the day but somehow I've not only not benefitted but actually had a losing day!

I don't know about you but I don't mind being flat out wrong on a trading decision. The two things that do get to me are being correct but still managing to lose or just not taking a set up that plays out exactly as planned.

Some days I'm 'in the zone' & some days whatever you do seems to be wrong LOL. At least I tend to have more of the former

Kind Regards
Steve
  • #3,625
  • Feb 24, 2009 11:44am Feb 24, 2009 11:44am
Quoting Leonlorenzo
Great work steve.

Your one of the (few) ones that are very easy to trust on this forum. Your character comes though in your post history has undoubtably helped you along.

I hope ill be where you are in a couple of years.

Keep it up.

Leon
Thanks for the kind words Leon

You will be as long as you just keep at it and stay focused. Love your posts btw

Steve
  • #3,626
  • Feb 24, 2009 11:52am Feb 24, 2009 11:52am
Quoting steviet
LOL,

I don't know about you but I don't mind being flat out wrong on a trading decision. The two things that do get to me are being correct but still managing to lose or just not taking a set up that plays out exactly as planned.

Kind Regards
Steve

Now I don't mind anymore when i'm wrong, even when i'm correct but my SL is hitted, I've achieved this relaxing state of mind when i decided to risk no more than 0.5% of my account, since that day trading became way mooore relaxing...

But what i still hate is not take a good setup because i had some losses before... it still happens sometime, and i still get caught in that trap!
  • #3,627
  • Feb 24, 2009 1:10pm Feb 24, 2009 1:10pm
I always like reading your posts. We have all had days like that.

5min chart on GY in a trending market is a goldmine, but in ranging market it can be a ball and chain. Look at the M15 EMA50, the big boys love to bang that thing to death. 6 low risk opportunities for today's sessions. Just a thought.
{Some Profound Statement goes here}
  • #3,628
  • Feb 24, 2009 1:44pm Feb 24, 2009 1:44pm
Quoting bpatto
I always like reading your posts. We have all had days like that.

5min chart on GY in a trending market is a goldmine, but in ranging market it can be a ball and chain. Look at the M15 EMA50, the big boys love to bang that thing to death. 6 low risk opportunities for today's sessions. Just a thought.
Hey

Yes you're right, there were a fair few opportunities out there today - I just managed to miss them haha. I normally keep a 50SMA, not EMA on the chart and yes any longs using a stop just below this today would've been safe.

Mine were a tad too tight, both stopped out by literally a couple of pips before bouncing again. One of those days.

Thanks for your thoughts

Kind Regards
Steve
  • #3,629
  • Feb 24, 2009 1:54pm Feb 24, 2009 1:54pm
Hi Steve, seems like one of those days, twice today went short GU, anticipating a fall to 14400, first time stopped out for 10 pips second time exited manually, for +19 (fear of a second loss I think) decided I'd had enough for the day. Guess what, within an hour it fell to 14374 130 pips south of my exit. Tomorrow's another day I guess for both of us.
If it is to be - it's up to me
  • #3,630
  • Feb 24, 2009 1:56pm Feb 24, 2009 1:56pm
Meant to say, glad to see you posting again.

All the best

Neil
If it is to be - it's up to me
  • #3,631
  • Feb 24, 2009 2:20pm Feb 24, 2009 2:20pm
Quoting pipintime
Hi Steve, seems like one of those days, twice today went short GU, anticipating a fall to 14400, first time stopped out for 10 pips second time exited manually, for +19 (fear of a second loss I think) decided I'd had enough for the day. Guess what, within an hour it fell to 14374 130 pips south of my exit. Tomorrow's another day I guess for both of us.
Hi Neil

Yes we all get them despite some of what you read

Important thing is to brush yourself down & prepare for the next day

Steve
  • #3,632
  • Feb 24, 2009 2:21pm Feb 24, 2009 2:21pm
Quoting pipintime
Meant to say, glad to see you posting again.

All the best

Neil
Thx
  • #3,633
  • Feb 24, 2009 3:40pm Feb 24, 2009 3:40pm
Hi again steve,

I started this thread a while ago... http://www.forexfactory.com/showthread.php?t=138725

What kind of returns are people who you have been in contact with expecting?

As someone says in the thread linked above, claims of high profit can make investors suspicious. I havent got a clue what you personally would consider high, there seems to be very different opinions on this subject.

Possibly too high in % gains PA would scair off possible large investors? Or the more average % gains would fail to grab peoples attention? Its a double edged sword it seems.

Leon
Living the adventure in my head.
  • #3,634
  • Feb 24, 2009 11:43pm Feb 24, 2009 11:43pm
Quoting Leonlorenzo
Hi again steve,

I started this thread a while ago... http://www.forexfactory.com/showthread.php?t=138725

What kind of returns are people who you have been in contact with expecting?

As someone says in the thread linked above, claims of high profit can make investors suspicious. I havent got a clue what you personally would consider high, there seems to be very different opinions on this subject.

Possibly too high in % gains PA would scair off possible large investors? Or the more average % gains would fail to grab peoples attention?...

In my opinion investors look at your gain, but they correlate it with your risk, they look your earnings % and they compare it with your drawdown, rarely they will give you their money if you loose more then 15% of theyr capital, this at least has been my (little) experience, maybe Steve have other toughts!

Hey good luck with your trading journal, hope your journey will be pleasent!
and don't worry about losses they will occur ALWAYS before or later...

Steve is still giving us a great example, more than a year trading made a lot and lost a lot of money but still here hanging, that's the way a trader should react!
  • #3,635
  • Feb 25, 2009 7:31am Feb 25, 2009 7:31am
Quoting Leonlorenzo
Hi again steve,

I started this thread a while ago... http://www.forexfactory.com/showthread.php?t=138725

What kind of returns are people who you have been in contact with expecting?

As someone says in the thread linked above, claims of high profit can make investors suspicious. I havent got a clue what you personally would consider high, there seems to be very different opinions on this subject.

Possibly too high in % gains PA would scair off possible large investors? Or the more average % gains would fail to grab peoples attention?...
Hi again Leon

Yes, Beman pretty much summed it up in his post as all people have different attitudes to risk and you really cannot generalise.

Some like to see a few months statements or even open a demo to trade alongside your normal account to get a feel for how you trade.

The amount of money traded can also determine what risk profile the investor is happy with. Say someone with a $100k account is OK with max drawdown of 15% - thats $15k. Someone else trading $1mill would not necessarily be as comfortable with a $150 max dd. The most important thing is that you have agreed beforehand what the investor would like and use position sizes and risk appropriate to that.

Kind Regards
Steve
  • #3,636
  • Feb 25, 2009 7:38am Feb 25, 2009 7:38am
Quoting steviet
Yup, always great to grab the pips however, days like yesterday should be made the most of to cover days like today when Steve manages to lose 2% going LONG on GJ whilst it rises 400 pips.

How do I do it??? LOL
Well that was yesterday and a day is a long time in forex

Today was short on GJ from 140.77 (took profit 138.81) & also from 140.34 (took profit 139.00) to more than cover yesterday's losses.

Not in the market right now but also managed to grab another 40 pips with a couple of quick scalps so have ended up today with a 4% gain.

Won't be posting many trades on here as I promised myself not to go down that road again but Steve is a lot happier than he was this time yesterday lol.

Kind Regards
Steve
  • #3,637
  • Feb 25, 2009 10:14am Feb 25, 2009 10:14am
Good that's the way to go!

I'm trying to find a way to scalp too, but still didn't find it... i think that scalping is a great way to recoup losses (just as you did), but in my opinion way too stressing to do it everyday
  • #3,638
  • Feb 25, 2009 11:20am Feb 25, 2009 11:20am
Thanks for the responses Beman and steve.

Congrats on a productive day steve.

Leon
Living the adventure in my head.
  • #3,639
  • Feb 25, 2009 11:21am Feb 25, 2009 11:21am
Quoting Leonlorenzo
Thanks for the responses Beman and steve.

Congrats on a productive day steve.

Leon
Leon,

Sorry to hear about your unfruitful day

What A-Levels are you looking to take?
  • #3,640
  • Feb 25, 2009 11:44am Feb 25, 2009 11:44am
Quoting steviet
Leon,

Sorry to hear about your unfruitful day

What A-Levels are you looking to take?
Im Pretty cut up to be honest. I was expecting to have to pay, but it never crossed my mind that I wouldnt meet entry requirements.

Business, Economics, computer science and philosophy was the plan. I can understand the entry hurdles, to keep out the time wasters and people unlikely to make the most of the tutoring. But I have no doubt that I would have passed with above average grades, after all, at college level all thats needed to do well is the motivation. Its mostly learning from text-book.

I explained to the Interviewer my situation and how much I wanted to change my life through further education having seen what options I really have workwise as I am now and not being happy with it. He was sympathetic, but In reality there are rules and I doubt they are often bent on the basis of someone having an epiphany about what they want from life.

Im not beaten yet, allthough It may be a little more difficult than I originally thought.

Leon
Living the adventure in my head.
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