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Steviet's Live Trades!

  • #1,501
  • Apr 5, 2007 10:15am Apr 5, 2007 10:15am
Quoting steviet
Haha,

Well, Leeds just have to stay up otherwise they're gonna be replaced by my other pet team, Scunthorpe - how embarrasing is that



I get to watch them play the mighty Plymouth on Saturday. Hope they do better than my portfolio.

quote of the day: . It's like deja-vu all over again
  • #1,502
  • Apr 5, 2007 10:17am Apr 5, 2007 10:17am
Hi Tradestar,

I've seen the Tkimble thread but I believe his system is quite different to mine. He's looking at taking a trade at a certain time each day and also has a Take Profit. My trades can run for days or even weeks.

Kind Regards
Steve

Quoting TradeStar
Hello Steviet,

I have been following your journal lately. Very neat stuff.
Sorry to bring in some ref. from another thread.
Sure you would have read about Tkimble's daily scalp.

Could you share some insight as to how your approach differs from this, if it is different, given both of you are talking about daily entry.

Thanks in advance.
  • #1,503
  • Apr 5, 2007 10:18am Apr 5, 2007 10:18am
Hope you win Saturday then - Leeds are such a big club they can't go down surely?

Quoting Gmak


I get to watch them play the mighty Plymouth on Saturday. Hope they do better than my portfolio.

  • #1,504
  • Apr 5, 2007 10:23am Apr 5, 2007 10:23am
OK, back to business - USDJPY long from 118.07 stopped out for plus 38 pips. I entered that trade last Thursday night & to say it's been a slow burner is an understatement . Mind you, I'd rather be in a trade like that than getting whipsawed each day as has been the case on the other dollar pairs recently.

Two trades still running....

NZDUSD long from 0.7215 - currently plus 18 pips
AUDUSD long from 0.8189 - currently plus 2 pips

April pips: -75
Cumulative since Nov 06: +1121

Kind Regards
Steve
  • #1,505
  • Apr 5, 2007 10:33am Apr 5, 2007 10:33am
Quoting steviet
OK, back to business - USDJPY long from 118.07 stopped out for plus 38 pips. I entered that trade last Thursday night & to say it's been a slow burner is an understatement . Mind you, I'd rather be in a trade like that than getting whipsawed each day as has been the case on the other dollar pairs recently.

Two trades still running....

NZDUSD long from 0.7215 - currently plus 18 pips
AUDUSD long from 0.8189 - currently plus 2 pips

April pips: -75
Cumulative since Nov 06: +1121

Kind Regards
Steve
Steve,

Glad to see you climbing back out of the hole that the month started with...wish I could do the same...Keep up the great work.

NP
  • #1,506
  • Apr 5, 2007 10:40am Apr 5, 2007 10:40am
Yup, the yen pairs have been my saviours so far this month which is why I'm glad the pairs are a little less dollar heavy after my re-shuffle.

The beginning of this month has not been easy for a few of us I've noted from a few other journals/threads.

You'll do it - history proves that and we both know that times like these are frustrating but unavoidable. All successful traders have bad patches but focus on the end result - that's what counts.

Kind Regards
Steve

Quoting Northpro
Steve,

Glad to see you climbing back out of the hole that the month started with...wish I could do the same...Keep up the great work.

NP
  • #1,507
  • Apr 5, 2007 4:07pm Apr 5, 2007 4:07pm
OK, 2 trades still on and stop losses tightened significantly......

NZDUSD long from 0.7215 (s/l 0.7186 guarantees minus 29 pips)
AUDUSD long from 0.8189 (s/l 0.8153 guarantees minus 36 pips)

New trades....

USDJPY long from 118.75 (s/l 118.33 guarantees minus 42 pips)
GBPUSD short from 1.9706 (s/l 1.9780 guarantees minus 74 pips)
GBPJPY short from 233.92 (s/l 235.03 guarantees minus 111 pips)

NFP tomorrow, anything could happen and probably will - also being Good Friday it could make things even more volatile lol.

Anyhow, Happy Easter for those that celebrate it & have a great weekend for those that don't :

Kind Regards
Steve
  • #1,508
  • Apr 6, 2007 8:06am Apr 6, 2007 8:06am
looks like your hedged for the NFP, two taken out and two looking good.
quote of the day: . It's like deja-vu all over again
  • #1,509
  • Apr 6, 2007 12:31pm Apr 6, 2007 12:31pm
Yup,

Only AUDUSD gone so far - see below - with NFP things could've been a lot worse lol.

Cheers
Steve

Quoting Gmak
looks like your hedged for the NFP, two taken out and two looking good.
  • #1,510
  • Apr 6, 2007 12:37pm Apr 6, 2007 12:37pm
OK, NFP has accounted for the AUDUSD short for a loss of 36 pips.

Current positions...

GBPUSD short from 1.9706 - currently plus 55 pips
USDJPY long from 118.75 - currently plus 56 pips
GBPJPY short from 233.92 - currently minus 57 pips
NZDUSD long from 0.7215 - currently minus 2 pips

Was hoping that on good US data, GBPUSD would drag down GBPJPY with it but it appears that it has gone up with USDJPY instead.

Oh well, NFP has always been a case of expect the unexpected - won't be able to lock in any pips tonight but can reduce stop losses on the open trades.

April pips: -111
Cumulative: +1085

Kind Regards
Steve
  • #1,511
  • Apr 6, 2007 4:11pm Apr 6, 2007 4:11pm
Well, 4 trades made it through NFP Good Friday and stop losses have been tightened....

USDJPY long from 118.75 (s/l 118.56 guarantees minus 19 pips)
GBPUSD short from 1.9706 (s/l 1.9733 guarantees minus 27 pips)
GBPJPY short from 233.92 (s/l 234.84 guarantees minus 92 pips)
NZDUSD long from 0.7215 (s/l 0.7191 guarantees minus 24 pips)

The kiwi trade is almost certain to go first thing Sunday if the US bullish tone carries through the weekend. GJ isn't looking great either - it seems to have gone with the general yen bearishness whereas I was hoping GU would bring it down.

All in all it's been an average week with one big GJ trade the highlight. Apart from that, it's been very choppy on the other pairs so hopefully we can see more direction next week to bag some pips.

Following Iso's great charts he posts here I'm going to do some daily trendline work on the pairs I trade to help me in some of my decisions.

Have a wonderful weekend all

Kind regards
Steve
  • #1,512
  • Apr 6, 2007 6:01pm Apr 6, 2007 6:01pm
Hey Steve

I say GBP/USD heading for 1.9500 !!! Maybe some good pips for you then !!!
  • #1,513
  • Apr 6, 2007 6:05pm Apr 6, 2007 6:05pm
Hi,

I'm also a beginner, started demoing a year ago.
Only recently I've decided to move onto Daily time frame. The only difference is that I use breakouts of candle's high/low to enter.

I tell you this: you're not making a mistake, this is the way to go. I''m done with anything shorter than Daily (maybe, just maybe, I would look into H4, but...no, don't think so). I've done so many strategies (from scalping to H1 and H4) resulting in blowing up accounts one after another. They were all demo, fortunately.
My live account went up 50% trading some H4 system and H1 strategy, just to loose all profit and minus 40% in 1 month (February-March).

So many traders talk about "stress-free" and "relaxed trading" - which I cannot imagine sitting in front of monitor for hours. The only way to do it is longer TF, unless one has made some najor discovery about the markets.

And to tell you the truth - since I've started Daily (well, sometimes even Weekly) my trading has improved dramatically.

I have also joined James16 private forum, and again - they all advice trading longer time frame, Daily, Weekly, the shortest H4. Plus many other stuff I've benefitted from by joining. Great PF, IMO. I wish I've found it earlier.
Anyway, I'm not here telling you to join, but simply that PF confirmed what what I've always thought: real big profits are in longer TFs.

You shouldn't bother about negative pips, because after all you are in plus (and it's big plus) - and that's what counts!
You have a great system, simple, but effective. Believe me, not many can say "well, about 1000 pips since Nov'06). Most have 1000, but in negative. A few are in profit, very few can make growth like yours.

Keep going! I just love the way you trade!
Markets will get "normal' (=pip-giving ), and this November you'll surely be in big profit. Never ever think of using an indicator. If you have to, maybe some trandlines, some patterns, some meaningful moving averages (not cross, but just to see the strength of the market, possible support level, etc).
PRICE + GOOD MONEY MANAGEMENT = all you will ever need.

Thanks for this great thread!!!

George
  • #1,514
  • Apr 6, 2007 6:11pm Apr 6, 2007 6:11pm
Hi there Tiki

Yes, hoping it makes it into the 1.9500's on Sunday/Monday on the back of the NFP figures.

Kind Regards
Steve

Quoting Tiki Trader
Hey Steve

I say GBP/USD heading for 1.9500 !!! Maybe some good pips for you then !!!
  • #1,515
  • Apr 6, 2007 6:24pm Apr 6, 2007 6:24pm
Hi George,

Thanks for a wonderful post

It sounds like we have been through a very similar journey. My trading started with a demo last March and I too started scalping on the lower timeframes (anything from 5 minute charts) with little success. I've used indicators galore but most only confirm later what you can see in the charts anyhow. Those that can make it on the smaller timeframes really have my admiration.

It maybe something I will look at again when I go full-time trading off the dailys (& I will do it ) - aim is to do this when the time is right and not before I have built up enough capital to do so. I'm looking at maybe 2010 but it'll come round soon enough if I stay focused on the job in hand.

I've heard some great things about the James16 private forum and the way people have completely turned around their fortunes by keeping it really simple over the longer timeframes.

Anyhow George, thanks for taking the time to post some encouraging words - I'll have good months & not so good months but as long as I show an overall profit with increase in account balance overall then I know I'm on the right track.

Sounds like you're doing great now so just stay disciplined and you'll be joining that elite group who actually make money consistently in this business

Have yourself a good weekend & thanks once again for your post.

Kind Regards
Steve

Quoting GeorgeW
Hi,

I'm also a beginner, started demoing a year ago.
Only recently I've decided to move onto Daily time frame. The only difference is that I use breakouts of candle's high/low to enter.

I tell you this: you're not making a mistake, this is the way to go. I''m done with anything shorter than Daily (maybe, just maybe, I would look into H4, but...no, don't think so). I've done so many strategies (from scalping to H1 and H4) resulting in blowing up accounts one after another. They were all demo, fortunately.
My live account went up 50% trading some H4 system and H1 strategy, just to loose all profit and minus 40% in 1 month (February-March).

So many traders talk about "stress-free" and "relaxed trading" - which I cannot imagine sitting in front of monitor for hours. The only way to do it is longer TF, unless one has made some najor discovery about the markets.

And to tell you the truth - since I've started Daily (well, sometimes even Weekly) my trading has improved dramatically.

I have also joined James16 private forum, and again - they all advice trading longer time frame, Daily, Weekly, the shortest H4. Plus many other stuff I've benefitted from by joining. Great PF, IMO. I wish I've found it earlier.
Anyway, I'm not here telling you to join, but simply that PF confirmed what what I've always thought: real big profits are in longer TFs.

You shouldn't bother about negative pips, because after all you are in plus (and it's big plus) - and that's what counts!
You have a great system, simple, but effective. Believe me, not many can say "well, about 1000 pips since Nov'06). Most have 1000, but in negative. A few are in profit, very few can make growth like yours.

Keep going! I just love the way you trade!
Markets will get "normal' (=pip-giving ), and this November you'll surely be in big profit. Never ever think of using an indicator. If you have to, maybe some trandlines, some patterns, some meaningful moving averages (not cross, but just to see the strength of the market, possible support level, etc).
PRICE + GOOD MONEY MANAGEMENT = all you will ever need.

Thanks for this great thread!!!

George
  • #1,516
  • Apr 7, 2007 3:41am Apr 7, 2007 3:41am
Hi Steviet,

Thanks for sharing your great journal.

I know that you move your SL/open new position at the end of each daily bar.
But how did you handle the weekend? Did you usually move your SL/open new position at the end of Friday or at the beginning of Sunday/Monday?

My broker end the Friday at GMT 20:00, then re-open again at GMT 22:00 Sunday. If the start/end of each daily bar is GMT 00:00, can you please give me some idea on applying your system through the weekend? Thanks in advance.

Best regards,

hksweeper
  • #1,517
  • Edited 6:59am Apr 7, 2007 6:36am | Edited 6:59am
Hi hksweeper,

I move my s/l just before the end of Friday at 22.00 GMT and keep the positions open at the weekend. Any new positions are opened at open Sunday 22.00GMT.

My broker's daily bars are from 22.00GMT and the Sunday bar goes right through to 22.00GMT Monday.

I know some brokers have a small Sunday bar and operate midnight to midnight. If I was trading with those, I'd still open/close at the end of the daily bar but ignore the Sunday bar completely with regards to moving sto losses etc.

I am considering closing all positions down over the weekend but I haven't yet been caught by a gap on Sunday opening in 5 months trading. I know some brokers (Oanda for example) allow trading through the weekend and I'm not sure if I would get stopped out if the prices go haywire over the weekend.

For example, at the moment on www.xe.com GU is showing at 1.9852 & GJ at 236.76!!! Now, normally when this happens, the prices revert back to around the Friday closing figure with maybe a small gap but I'm not sure if Oanda or any other broker would stop me out over the weekend using these crazy weekend deviations.

I hope this helps a little & thanks for your post.

Kind Regards
Steve

Quoting hksweeper
Hi Steviet,

Thanks for sharing your great journal.

I know that you move your SL/open new position at the end of each daily bar.
But how did you handle the weekend? Did you usually move your SL/open new position at the end of Friday or at the beginning of Sunday/Monday?

My broker end the Friday at GMT 20:00, then re-open again at GMT 22:00 Sunday. If the start/end of each daily bar is GMT 00:00, can you please give me some idea on applying your system through the weekend? Thanks in advance.

Best regards,

hksweeper
  • #1,518
  • Apr 8, 2007 4:06pm Apr 8, 2007 4:06pm
New trade opened at Sunday open....

AUDUSD short from 0.8160 (s/l 0.8210 guarantees minus 50 pips)

Kind Regards
Steve
  • #1,519
  • Apr 9, 2007 4:00am Apr 9, 2007 4:00am
Hi,

As I said I would, I've been studying trend line trades similar to Isotonic's charts that we have seen through my thread. I've also been reading Jacko's posts which are pure gold.

An opportunity has been spotted on GBPCHF where the falling trendline from 23rd January has recently been hit and bounced off.

I have therefore entered a test trade for GBPCHF short from 2.4007, initial s/l placed at just above the falling trendline 2.4117 and an initial t/p at 2.3423. The t/p is the rising trendline from July 06.

Attached are 2 charts which should explain. I won't be including trades like this in my testing but may start using stop losses at or around a recent trendline rather than the high/low of previous days.

Kind Regards
Steve
Attached Images
  • #1,520
  • Apr 9, 2007 5:26am Apr 9, 2007 5:26am
Quoting steviet
New trade opened at Sunday open....

AUDUSD short from 0.8160 (s/l 0.8210 guarantees minus 50 pips)

Kind Regards
Steve
went short myself too @ 8167. may add more if it goes up depending.

good luck.
BAM BAM BOOM! -bravado
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