Steviet's Live Trades! | Page 71 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Dukascopy Live Account - Don't Post if you haven't traded live with them! 117 replies

My Live Trades on my Live Account 588 replies

go live or bust ... diary of an fx live-trader-wannabe 1,621 replies

Trade 2 live accounts - one with full balance, 2nd as a live test? 0 replies

Oanda 10$ live acc quick-start guide (for newbie to trade live safe) 13 replies

Attachments: Steviet's Live Trades!
Exit Attachments

Steviet's Live Trades!

  • #1,401
  • Mar 29, 2007 11:02am Mar 29, 2007 11:02am
Hi Tiki,

Thanks for posting the chart - as you know, I don't trade with indicators and it's easy to look back & say 'I should've done this or that' lol.

The trouble with overbought, oversold indicators that I find are that they can't be trusted. For example, scroll back on your 4 hour chart to the week beginning 26th Feb on UJ. It was very 'oversold' at just over 121 - ten days later we were below 116! On my system, I sold at just below 121 & rode it down to 116.xx - since then the yen has been bouncing all over the place & I've been caught out a few times.

I just have to trade my method - got to enter GJ & UJ tonight with big initial stop losses - bullish engulfing bar means I go long but knowing the news it'll probably reverse again lol.

Thanks for taking the time to post

By the way - UJ stopped out for minus 126 pips

Today has been as depressing as yesterday was the opposite but there we go - onto the next trade.

Kind Regards
Steve

Quoting Tiki Trader
And don't forget there are a ton of JPY reports coming out tonight... I know they are on tomorrow's daily candle... but who knows how all that might pan out !!!
  • #1,402
  • Mar 29, 2007 11:03am Mar 29, 2007 11:03am
chin up steve!!...keep on grindin'...
  • #1,403
  • Mar 29, 2007 11:07am Mar 29, 2007 11:07am
Haha - OK

Stupid forex - whatever made me get involved in this

Only joking, I think I'll survive - had worse days.

Quoting Isotonic
chin up steve!!...keep on grindin'...
  • #1,404
  • Mar 29, 2007 11:16am Mar 29, 2007 11:16am
How can you be sad Steve ??? Am I wrong in saying you are up quite a few pips for the year ???

I agree with what you say about not trusting the overbought or oversold... I follow very strict rules when I use it ... and I've last a trade or two too here and there... HA well, most of them in fact, until recently !!!

But I think pip wise, you are far batter off than I am right now !!!
  • #1,405
  • Mar 29, 2007 11:27am Mar 29, 2007 11:27am
Not really sad my friend - forex always bites you just when you think things are going well lol.

Yes, I'm still well up over the time I've traded live - these last couple of months have been difficult and I'm having trouble getting my equity back to what it was in Jan.

February as you know was my first losing month and this month has been a real rollercoaster ride. Have been up 700+ pips this month, then the market took back 600 of those. Then built back up to around +500 and now back at +163 for March lol.

I'm sure if I just keep doing what I do, then I'll be eating pips again. I suppose the important thing is (if this month stays positive), I'll have had 4 out of 5 winning months.

Thanks again bro

Kind Regards
Steve

Quoting Tiki Trader
How can you be sad Steve ??? Am I wrong in saying you are up quite a few pips for the year ???

I agree with what you say about not trusting the overbought or oversold... I follow very strict rules when I use it ... and I've last a trade or two too here and there... HA well, most of them in fact, until recently !!!

But I think pip wise, you are far batter off than I am right now !!!
  • #1,406
  • Edited 12:04pm Mar 29, 2007 12:03pm | Edited 12:04pm
You must be my evil twin brother, Steve. After I closed up shop yesterday, I had plans to buy that hotel, where Nicole Smith was staying in the Bahamas. This morning my neighbors noticed the repo man towing away my pick up truck. As they say in my native Slovakia: GBPJPY giveth and NZDUSD taketh it away. Oh well, I am still breathing, all I have to do is to wipe off the vomit from all of my 3 screens. After all I am still about 220 pips up this month. Much better than cocaine and cheaper.

Regards

Frank

Quoting steviet
Not really sad my friend - forex always bites you just when you think things are going well lol.

Yes, I'm still well up over the time I've traded live - these last couple of months have been difficult and I'm having trouble getting my equity back to what it was in Jan.

February as you know was my first losing month and this month has been a real rollercoaster ride. Have been up 700+ pips this month, then the market took back 600 of those. Then built back up to around +500 and now back at +163 for March lol.

I'm sure if I just keep doing what I do, then I'll be eating pips again. I suppose the important thing is (if this month stays positive), I'll have had 4 out of 5 winning months.

Thanks again bro

Kind Regards
Steve
  • #1,407
  • Mar 29, 2007 2:12pm Mar 29, 2007 2:12pm
OK, had a hot bath and feel much more relaxed now about life, the universe & everything

Two existing trades......

GBPUSD short from 1.9692 (s/l 1.9668 guarantees plus 24 pips)
NZDUSD short from 0.7171 (s/l 0.7172 guarantees minus 1 pip)

New trades.....

AUSUSD short from 0.8064 (s/l 0.8113 guarantees minus 49 pips)
GBPJPY long from 231.64 (s/l 228.94 guarantees minus 270 pips )
USDJPY long from 118.07 (s/l 116.58 guarantees minus 149 pips )

If my yen stops get hit tomorrow I may cry

Actually, tomorrow is the last trading day of the month so will be posting my monthly figures and 5 month results in full.

Happy trading peeps

Kind Regards
Steve
  • #1,408
  • Mar 30, 2007 4:27am Mar 30, 2007 4:27am
OK,

So far, the trades are doing OK but I am mindful of the fact that this could change very quickly with pairs such as GJ lol.

Current positions.....

GBPJPY long from 231.64 - currently minus 29 pips
USDJPY long from 118.07 - currently plus 2 pips
AUDUSD short from 0.8064 - currently minus 10 pips
NZDUSD short from 0.7171 - currently plus 40 pips
GBPUSD short from 1.9692 - currently plus 100 pips

Let's see how they fare this afternoon & will post full update later with monthly & cumulative totals.

Kind Regards
Steve
  • #1,409
  • Mar 30, 2007 5:18am Mar 30, 2007 5:18am
Goodluck steve,

Have been browsing your journal for months, hope you can have a great closing tonight. Might start a live acc journal next month in FF using DRT strats if DRT is around next week. I think having a journal ensures a trader to be disciplined, polite and professional. (The whole world is watching) :

Ok, good luck for tonight.
Still waters run deep
  • #1,410
  • Mar 30, 2007 9:47am Mar 30, 2007 9:47am
Thanks barak,

It looks like things were great until US news at 3pm (3 hours ago sent the markets into a Friday frenzy. Don't you just hate it when that happens

OK, GBPUSD stopped out for only plus 24 pips, AUDUSD stopped out for minus 49 pips and NZDUSD stopped out for minus 1 pip. In total at their best these trades were over 200 pips up between them at one point - it's very frustrating but have to trade this way if I'm out all day. All I can do is try and reduce losses with s/l whilst the market does it's thing. The only other option is to ditch the daily method & start scalpingin the few hours I am around. That won't happen though because I know it will work long term and I just have to put up with crazy days like these.

Current trades are UJ long (minus 53 pips) & GJ long (minus 29 pips). Stop losses can be reduced on these dramatically but after what I saw lunchtime, I thought all 5 trades would still be on. Oh well.

OK - final pip total for March: +137 pips
Cumulative: +1196 pips

Kind Regards
Steve

Quoting barak
Goodluck steve,

Have been browsing your journal for months, hope you can have a great closing tonight. Might start a live acc journal next month in FF using DRT strats if DRT is around next week. I think having a journal ensures a trader to be disciplined, polite and professional. (The whole world is watching) :

Ok, good luck for tonight.
  • #1,411
  • Mar 30, 2007 10:12am Mar 30, 2007 10:12am
look at it this way stevie - you came out of march pip positive...small consolation i know but sometimes you just have to take what you can get.

what a lot of new traders don't realize is the time-served element of trading. you have to keep plugging away and keep clocking up the experience just like any other profession. i'm not implying that you don't know this already, but these past two months have been particularly tough going and that can play on your mind as frustration can set in.

remember what i said earlier, at times like these you have to roll up your sleeves and grind it out. sooner or later things will pick up again and you will be back on track. just stick to your plan and wait for things to turn around...

the six month mark is your interim check-point. that'll be a good time to give the whole thing a good going over - your results, expectations so far and the differences between the two.

if you've got the time and energy over the weekend then don't forget your monthlies...(review that is!)

keep your spirits up dude (even if that means hitting the bottled variety - hey it's the weekend! and come back fighting next month, champ! )
  • #1,412
  • Edited 10:33am Mar 30, 2007 10:16am | Edited 10:33am
As promised, here are some more detailed results for the 5 completed months using my method. I think I'll label this month Mad March as the pip count has been up to 700, then down to 100, then up to 600 & finally closing at just over 100 pips gain.

Controversially it seems I've decided to ditch EURUSD, USDCHF & USDCAD for now in favour of AUDUSD, NZDUSD & GBPJPY. Time will tell whether I can trade the 3 new ones as well as GU & UJ.

November 2006

Total net pip gain plus 476 pips

Increase in account balance plus 7.08%

GBPUSD plus 123 pips
EURUSD minus 95 pips
USDJPY plus 180 pips
USDCHF plus 211 pips
USDCAD plus 57 pips

December 2006

Total net pip gain plus 856 pips

Increase in account balance plus 12.00%

GBPUSD plus 447 pips
EURUSD plus 342 pips
USDJPY plus 233 pips
USDCHF minus 115 pips
USDCAD minus 51 pips

January 2007

Total net pip gain plus 636 pips

Increase in account balance plus 10.54%

GBPUSD plus 605 pips
EURUSD plus 33 pips
USDJPY minus 110 pips
USDCHF plus 147 pips
USDCAD minus 39 pips

February 2007

Total pip gain minus 909 pips

Increase in account balance minus 14.54%

GBPUSD minus 566 pips
EURUSD minus 255 pips
USDJPY plus 223 pips
USDCHF minus 184 pips
USDCAD minus 127 pips


March 2007

Total pip gain plus 137 pips

Increase in account balance plus 2.0%

GBPUSD plus 366 pips
EURUSD minus 78 pips
USDJPY minus 95 pips
USDCHF minus 222 pips
USDCAD plus 136 pips
GBPJPY plus 100 pips
AUDUSD minus 69 pips
NZDUSD minus 1 pip

Cumulative (5 months)

Total net pip gain plus 1196 pips (average plus 239.2 pips per month)

Average increase in account balance plus 3.42% per month

GBPUSD plus 975 pips (average plus 195 pips pm)
EURUSD minus 53 pips (average minus 10.6 pips pm)
USDJPY plus 431 pips (average plus 86.2 pips pm)
USDCHF minus 163 pips (average minus 32.6 pips pm)
USDCAD minus 24 pips (average minus 4.8 pips pm)
GBPJPY plus 100 pips (average plus 100 pips pm)
AUDUSD minus 69 pips (average minus 69 pips pm)
NZDUSD minus 1 pip (average minus 1 pip pm)

So, after five months testing live the method seems to be performing OK overall. March has been equally as difficult as February but in different ways.

I've brought in the 100 pip rule this month which should reduce losses - my broker doesn't have a trailing stop option but the other thought would be to manually have a trailing s/l of 100 pips and adjust as and when I can on GU, GJ & UJ and maybe 70 pips on AU & NU. What I need to do is strike a balance between staying in a trade as long as possible and reducing whipsaw losses when a trade has been well in profit.

Anyhow, it’s been a great journey so far and lots of patience & discipline has been required but it’s paying off so far.

Kind Regards
Steve
  • #1,413
  • Mar 30, 2007 10:20am Mar 30, 2007 10:20am
Hehe,

You really don't know how much I look forward to your posts Iso - they keep me on the straight & narrow. Me champ, you chimp :

You will see my cumulative figures so far have now been posted - what do you think of the second from last paragraph? Good idea or not? Trying to improve without taking away the essence of the method.

I'd be interested in your comments

Thanks bro
Steve

Quoting Isotonic
look at it this way stevie - you came out of march pip positive...small consolation i know but sometimes you just have to take what you can get.

what a lot of new traders don't realize is the time-served element of trading. you have to keep plugging away and keep clocking up the experience just like any other profession. i'm not implying that you don't know this already, but these past two months have been particularly tough going and that can play on your mind as frustration can set in.

remember what i said earlier, at times like these you have to roll up your sleeves and grind it out. sooner or later things will pick up again and you will be back on track. just stick to your plan and wait for things to turn around...

the six month mark is your interim check-point. that'll be a good time to give the whole thing a good going over - your results, expectations so far and the differences between the two.

if you've got the time and energy over the weekend then don't forget your monthlies...(review that is!)

keep your spirits up dude (even if that means hitting the bottled variety - hey it's the weekend! and come back fighting next month, champ! )
  • #1,414
  • Mar 30, 2007 11:01am Mar 30, 2007 11:01am
No need for me to repeat it

Quoting Isotonic
look at it this way stevie - you came out of march pip positive...small consolation i know but sometimes you just have to take what you can get.

what a lot of new traders don't realize is the time-served element of trading. you have to keep plugging away and keep clocking up the experience just like any other profession. i'm not implying that you don't know this already, but these past two months have been particularly tough going and that can play on your mind as frustration can set in.

remember what i said earlier, at times like these you have to roll up your sleeves and grind it out. sooner or later things will pick up again and you will be back on track. just stick to your plan and wait for things to turn around...

the six month mark is your interim check-point. that'll be a good time to give the whole thing a good going over - your results, expectations so far and the differences between the two.

if you've got the time and energy over the weekend then don't forget your monthlies...(review that is!)

keep your spirits up dude (even if that means hitting the bottled variety - hey it's the weekend! and come back fighting next month, champ! )
  • #1,415
  • Mar 30, 2007 11:48am Mar 30, 2007 11:48am
Hey man, if I can keep you smiling then my work is done!

As for your change, the answer is...(drum roll, pls)....i don't know!!! :

That's the thing with doing a tweak here, and a tweak there, if you're not careful you might end up doing what you just said you wouldn't - changing the essence, or ingredients of your system (the secrets in the sauce, right? ).

Changing your currency basket is ok, but changing other aspects like stop losses or other things really depends on a couple of things:

1. How well you can back-test these changes, if they break a current technical and/or risk/money management (in this case) aspect of your system, and

2. How you will respond to all these changes forward-testing..?

Only you can answer both parts, hopefully doing the former before the latter...only time will tell. But as you know, making too many changes will alter what you've already set out to do and can spell disaster if done incorrectly.

Not quite the answer you're looking for I know but think long and hard over the weekend to make sure if it's the right thing for YOU!

ps: don't forget to down a few jars over the weekend, it might help to put things in a new perspective...

Quoting steviet
Hehe,

You really don't know how much I look forward to your posts Iso - they keep me on the straight & narrow. Me champ, you chimp :

You will see my cumulative figures so far have now been posted - what do you think of the second from last paragraph? Good idea or not? Trying to improve without taking away the essence of the method.

I'd be interested in your comments

Thanks bro
Steve
  • #1,416
  • Mar 30, 2007 12:00pm Mar 30, 2007 12:00pm
Hmmm,

I knew you'd say that lol - turbo said much the same in pm. I'm going to test the exact trades I've made since Jan on GU & UJ over the weekend.

What I'll test is the 100 pip rule to start that I'm already employing. I do know that my 100 pips made in GJ yesterday would have been minus 20 without this rule so that's a good example.

I'll test the fact that I will still only move stop loss at the end of each day otherwise I may get false results with the market going up & down during the day.

I'm very careful about changing too much but I think I've stayed true so far to my original plan.

OK, at some point in the next day or two I'll post my results.

Kind Regards
Steve



Quoting Isotonic
Hey man, if I can keep you smiling then my work is done!

As for your change, the answer is...(drum roll, pls)....i don't know!!! :

That's the thing with doing a tweak here, and a tweak there, if you're not careful you might end up doing what you just said you wouldn't - changing the essence, or ingredients of your system (the secrets in the sauce, right? ).

Changing your currency basket is ok, but changing other aspects like stop losses or other things really depends on a couple of things:

1. How well you can back-test these changes, if they break a current technical and/or risk/money management (in this case) aspect of your system, and

2. How you will respond to all these changes forward-testing..?

Only you can answer both parts, hopefully doing the former before the latter...only time will tell. But as you know, making too many changes will alter what you've already set out to do and can spell disaster if done incorrectly.

Not quite the answer you're looking for I know but think long and hard over the weekend to make sure if it's the right thing for YOU!

ps: don't forget to down a few jars over the weekend, it might help to put things in a new perspective...
  • #1,417
  • Mar 30, 2007 10:42pm Mar 30, 2007 10:42pm
I have to say, that is a whole lot of stress for those pips.

I would go crazy with that type of drawdown, then see the move go my way somewhat, then find out later it was stopped out.

My total time in the market today was about 7 minutes, and yesterday about 10 minutes. Two day total was 76 pips.

I would tighten up on the profits, rather than letting it back up on you into the negative, can you change your stop loss some?

I hope April is a blockbuster month for you, keep your thread rolling.

Have a great weekend.

Ken
  • #1,418
  • Mar 31, 2007 2:21am Mar 31, 2007 2:21am
Quoting monarch
I have to say, that is a whole lot of stress for those pips.

I would go crazy with that type of drawdown, then see the move go my way somewhat, then find out later it was stopped out.

My total time in the market today was about 7 minutes, and yesterday about 10 minutes. Two day total was 76 pips.

I would tighten up on the profits, rather than letting it back up on you into the negative, can you change your stop loss some?

I hope April is a blockbuster month for you, keep your thread rolling.

Have a great weekend.

Ken
Steve like a lot of us has a full time job so getting in and out of the market quickly is not feasible.
  • #1,419
  • Mar 31, 2007 6:04am Mar 31, 2007 6:04am
Hey Ken,

I do get what you mean, I really do. It can be frustrating but I actually find it fairly stress free in so much as I'm in a routine. I set my trades at 10pm, move s/l the next day or re-enter.

I guess there are 'many ways to skin a cat' (ouch), and so far this is my chosen method.

Have a great weekend yourself my friend.

Kind Regards
Steve

Quoting monarch
I have to say, that is a whole lot of stress for those pips.

I would go crazy with that type of drawdown, then see the move go my way somewhat, then find out later it was stopped out.

My total time in the market today was about 7 minutes, and yesterday about 10 minutes. Two day total was 76 pips.

I would tighten up on the profits, rather than letting it back up on you into the negative, can you change your stop loss some?

I hope April is a blockbuster month for you, keep your thread rolling.

Have a great weekend.

Ken
  • #1,420
  • Mar 31, 2007 6:06am Mar 31, 2007 6:06am
Hi willf,

Exactly - we have to find something that suits both our personality and our lifestyle (if working 9-5 can be called a lifestyle )

Kind Regards
Steve


Quoting willf
Steve like a lot of us has a full time job so getting in and out of the market quickly is not feasible.
3 traders viewing now