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Steviet's Live Trades!

  • #1,561
  • Apr 11, 2007 3:01pm Apr 11, 2007 3:01pm
i think i might have something to do with the current TL fad.lol.

to me TL's never were a fad, and i've been round the block several times trying everything out there (like everybody else). TL's were there way before all these new indicators came out and after price action they're as old as the hills - but few people take the time to learn and use them.

Quoting SeekingLight

Trendlines can be a good guideline / heads up when they are broken or hit, but their current rediscovery all over FF feels like a recent fad. Been seeing TL use crop up in threads all over lately

Funny how some things cycle and come back around

Take care out there!

SeekingLight
  • #1,562
  • Apr 11, 2007 3:04pm Apr 11, 2007 3:04pm
well the UJ hasn't broken yet, we shall see in the next few days...
Attached Image
  • #1,563
  • Apr 11, 2007 3:57pm Apr 11, 2007 3:57pm
OK, 4 trades still on and stop losses tightened....

GBPJPY long from 234.86 (s/l 234.86 guarantees break even)
AUDUSD long from 0.8266 (s/l 0.8224 guarantees minus 42 pips)
NZDUSD long from 0.7304 (s/l 0.7253 guarantees minus 51 pips)
GBPUSD long from 1.9727 (s/l 1.9727 guarantees break even)

Although GU didn't quite hit +100 pips, s/l has been brought to b/e - there's no way I'm taking a loss on this trade lol.

New trade....

USDJPY long from 119.37 (s/l 118.77 guarantees minus 60 pips)

Well, been waiting for UJ to top out - should happen tomorrow as I've gone long . Mind you, the yen pairs have done OK this month compared to the rubbish trades on the other pairs.

Thanks for the comments peeps. I probably shouldn't be trading whilst feeling stressed and mildly depressed in 'my other life' but I've promised myself to see this through and it's a welcome diversion.

Kind Regards
Steve
  • #1,564
  • Apr 11, 2007 6:55pm Apr 11, 2007 6:55pm
Isotonic, what book or website would you recommend to learn the trendlines like your posting in this thread?
  • #1,565
  • Apr 11, 2007 8:51pm Apr 11, 2007 8:51pm
Hey Isotonic,

Did you draw the trend lines by hand on the chart you just posted or do you have an indicator that will do this for you?

Thanks!
  • #1,566
  • Apr 12, 2007 1:21am Apr 12, 2007 1:21am
Well, another cracking night..............not.

GU stopped out at b/e. AU stopped out at minus 42 & NU stopped out at minus 51, all to the very pip. In fact the AU trade was stopped out at 13 seconds after the Aussie news with a widened spread - low for the day so far is 0.8234 & I got stopped out at 0.8224 - this doesn't happen often but the market sure knows how to kick you when you're down.

Current trades still running, GJ at plus 95 & UJ at minus 8.

Kind Regards
Steve
  • #1,567
  • Apr 12, 2007 11:36am Apr 12, 2007 11:36am
WTF!

As I predicted, UJ has chosen today to reverse on me for minus 60 pips

Only GJ trade still on - currently plus 45 with s/l at break even - this trade was up nearly 150 pips yesterday - I hate these choppy markets

Kind Regards
Steve

Quoting steviet
OK, 4 trades still on and stop losses tightened....

GBPJPY long from 234.86 (s/l 234.86 guarantees break even)
AUDUSD long from 0.8266 (s/l 0.8224 guarantees minus 42 pips)
NZDUSD long from 0.7304 (s/l 0.7253 guarantees minus 51 pips)
GBPUSD long from 1.9727 (s/l 1.9727 guarantees break even)

Although GU didn't quite hit +100 pips, s/l has been brought to b/e - there's no way I'm taking a loss on this trade lol.

New trade....

USDJPY long from 119.37 (s/l 118.77 guarantees minus 60 pips)

Well, been waiting for UJ to top out - should happen tomorrow as I've gone long . Mind you, the yen pairs have done OK this month compared to the rubbish trades on the other pairs.

Thanks for the comments peeps. I probably shouldn't be trading whilst feeling stressed and mildly depressed in 'my other life' but I've promised myself to see this through and it's a welcome diversion.

Kind Regards
Steve
  • #1,568
  • Apr 12, 2007 11:46am Apr 12, 2007 11:46am
I'm feeling it too. -117 for the month. Watched my chf and jpy both reach there targets today, to bad they where both stopped yesterday.
  • #1,569
  • Apr 12, 2007 11:52am Apr 12, 2007 11:52am
Only -117? Wanna swap

Yup, having a whole host of trades nip the stop loss & then go the way they should but that's how it goes I guess.

I'm trying to look at other longer term trades that I can have running in the background to ease me through these choppy times but it's still very much work in progress.

Cheers bro
Steve

Quoting turbokaos
I'm feeling it too. -117 for the month. Watched my chf and jpy both reach there targets today, to bad they where both stopped yesterday.
  • #1,570
  • Apr 12, 2007 2:59pm Apr 12, 2007 2:59pm
the UJ is turning out to be a dud...still we must wait for the close to confirm.


Quoting steviet
WTF!

As I predicted, UJ has chosen today to reverse on me for minus 60 pips

Only GJ trade still on - currently plus 45 with s/l at break even - this trade was up nearly 150 pips yesterday - I hate these choppy markets

Kind Regards
Steve
Attached Image
  • #1,571
  • Apr 12, 2007 3:29pm Apr 12, 2007 3:29pm
Yup,

Today has truly been one of those days lol....

GU stopped out for b/e - s/l was at 1.9727, low was 1.9724 & currently trading at 1.9786.

UJ stopped out for minus 60 - s/l was at 118.77, low was 118.79 & currently trading at 119.13.

AU stopped out for minus 42 - s/l was at 0.8224 , low was 0.8234 (news spread) & currently trading at 0.8286.

NZ stopped out for minus 51 - s/l was at 0.7253, low was 0.7252 & currently trading at 0.7290.

Overall today lost 153 pips & if stop losses not hit would be plus around 50 pips across the 4 trades - thats 200 pips down the pan!!!

GJ is currently up 82 pips with 14 locked in.

I'm trying to come up with a complementary system that will keep me in trades through choppy periods & keeping the losses relatively small. It's not easy I can tell you but things that are worthwhile never are.

4 new trades to put on in 30 mins - all still look difficult calls - deep joy lol.

Kind Regards
Steve

Quoting Isotonic
the UJ is turning out to be a dud...still we must wait for the close to confirm.
  • #1,572
  • Apr 12, 2007 4:02pm Apr 12, 2007 4:02pm
OK, only one trade remains..........

GBPJPY long from 234.86 (s/l 235.00 guarantees plus 14 pips )

New trades...gulp....

GBPUSD long from 1.9789 (s/l 1.9714 guarantees minus 75 pips)
USDJPY long from 119.18 (s/l 118.69 guarantees minus 49 pips)
NZDUSD long from 0.7299 (s/l 0.7242 guarantees minus 57 pips)
AUDUSD long from 0.8291 (s/l 0.8224 guarantees minus 67 pips)

Tomorrow's Friday and anything can happen so batten down the hatches lol

Kind Regards
Steve
  • #1,573
  • Apr 12, 2007 4:25pm Apr 12, 2007 4:25pm
hey steve.

I don't know if this can help you but it opened my eyes. One of the things i realized recently is how i assume that trends move in smooth fashion up or down. This is of course not true. Most good trends move with corrections along the way.

I realize that my system only takes advantage of trends that just move straight up or down and I think that's what your current system does because you move you s/l to the previous low and follow the movement very closely.

Right now I am working on my exits on a position trading. The entry is pretty much the same because i think entries are very insignificant part of a system anyway so i'll leave it alone. So the challenge is to determine a method of moving your stop losses so that you don't follow the price too closely and stay with the trend. For example AUDUSD, been up in a wild uptrend since beginning of March with big corrections along the way.

like they say, exits is the trading aspect that make you money
  • #1,574
  • Apr 12, 2007 4:36pm Apr 12, 2007 4:36pm


That's exactly what I'm trying to achieve - as you say a lot of moves have corrections along the way and the trick is to stay in the trend without getting whipsawed out day after day as it consolidates at a new level.

I'll still trade my way but will also place trades alongside with differing stop losses to even things out. I think I'm nearly there but I'll need to do some proper forward testing on my pairs.

I need to wait for a proper entry and then I'll be trading the two alongside each other - if the trend moves straight up then they both win - if it corrects then the second trade stays in & I may even hedge the other trade which will reduce overall risk anyhow.

Probably made that 'as clear as mud' but I think we're both trying to achieve the same thing.

Thanks for the post - we'll get there

Kind Regards
Steve

Quoting hilmy83
hey steve.

I don't know if this can help you but it opened my eyes. One of the things i realized recently is how i assume that trends move in smooth fashion up or down. This is of course not true. Most good trends move with corrections along the way.

I realize that my system only takes advantage of trends that just move straight up or down and I think that's what your current system does because you move you s/l to the previous low and follow the movement very closely.

Right now I am working on my exits on a position trading. The entry is pretty much the same because i think entries are very insignificant part of a system anyway so i'll leave it alone. So the challenge is to determine a method of moving your stop losses so that you don't follow the price too closely and stay with the trend. For example AUDUSD, been up in a wild uptrend since beginning of March with big corrections along the way.

like they say, exits is the trading aspect that make you money
  • #1,575
  • Apr 13, 2007 6:21am Apr 13, 2007 6:21am
OK, two positions stopped out - UJ for minus 49 pips & GJ for break even.

Stop loss has been brought to b/e on the NZDUSD trade and open positions currently plus around 170 pips.

As eluded to in the previous post to hilmy, I have implemented a complementary system that should keep me in trends and also help in the choppy periods.

I have decided to keep the risk the same and trade on the existing 5 pairs. The risk will be split at 1% per trade so I may have two trades on the same pair at the same time with differing stop losses. I may also hedge the trades from time to time i.e. may be long and short at the same time on the same pair.

The complementary system will have an initial stop loss of 200 pips on UJ, GU & GJ and 140 pips on AU & NU. The stop loss will be moved at the end of each day but enables me to ride out trends and corrections. If I see a significant support area the stop loss may be moved to just below that or vice versa in a short trade. I may also close trades on the complementary system at my discretion if I see fit ( for example if a significant s/r has been breached). The existing system will stay exactly the same and run alongside but only use 1% risk.

The first trade opened on the complementary system is as follows...

USDJPY short from 118.61 (s/l 120.61 guarantees minus 200 pips)

Let's see how we go....

Kind Regards
Steve
  • #1,576
  • Apr 13, 2007 6:48am Apr 13, 2007 6:48am
Quoting steviet
OK, two positions stopped out - UJ for minus 49 pips & GJ for break even.

Stop loss has been brought to b/e on the NZDUSD trade and open positions currently plus around 170 pips.

As eluded to in the previous post to hilmy, I have implemented a complementary system that should keep me in trends and also help in the choppy periods.

I have decided to keep the risk the same and trade on the existing 5 pairs. The risk will be split at 1% per trade so I may have two trades on the same pair at the same time with differing stop losses. I may also hedge the trades from time to time i.e. may be long and short at the same time on the same pair.

The complementary system will have an initial stop loss of 200 pips on UJ, GU & GJ and 140 pips on AU & NU. The stop loss will be moved at the end of each day but enables me to ride out trends and corrections. If I see a significant support area the stop loss may be moved to just below that or vice versa in a short trade. I may also close trades on the complementary system at my discretion if I see fit ( for example if a significant s/r has been breached). The existing system will stay exactly the same and run alongside but only use 1% risk.

The first trade opened on the complementary system is as follows...

USDJPY short from 118.61 (s/l 120.61 guarantees minus 200 pips)

Let's see how we go....

Kind Regards
Steve
You still keep records of the other system I assume? Maybe you can post it at the end of november because i'm interested to see how various exit strategies work
  • #1,577
  • Apr 13, 2007 6:54am Apr 13, 2007 6:54am
Yep,

I'll be keeping a record of both systems and recording each trade here under each system, along with the results.

Funnily enough USDCAD (my nemesis), that I ditched has gone into a freefall since mid march and on the second system I'd still be holding a trade from then which would currently be up around 300 pips. On the original system it would have worked pretty well too but I would have been whipsawed a couple of times during that period.

Let's see how we go....

Kind Regards
Steve

Quoting hilmy83
You still keep records of the other system I assume? Maybe you can post it at the end of november because i'm interested to see how various exit strategies work
  • #1,578
  • Edited 10:56am Apr 13, 2007 8:51am | Edited 10:56am
Hi Steve,

I just noticed something in your thread. Go back to your first post....who was the 1st one to post a message after you?.......ME!!!!!!!!!! I am feeling very proud about that. Hey...I've been following your journey since it left port!!!
Do I get a prize for that?

On the other side: as you know I really want your system to work because it will fit beautifully with my "desired" life style, and I share completely your philosophy: I want trading to become my source of income and wealth.....but I do not want to become an individual that is glued to his computer for hours without end chasing pips...and sweating losses.

So I have been tinkering with your system and I do not have the solution. But after looking at some of the charts that ISO has posted, and at his TL's and stops I am trying to be more relaxed with my stop placement, and as long as the trade is in a trend I will let it run more loosely. And as soon as they break a support/resistance line after a short consolidation pattern, and the price is again on the move, I will move my stop under that line, and fix it there for a while. I am considering the fundamentals as well, to make sure I am in the right trend. (right now everybody is dumping the $US), so probably a long trend in any pair that uses the US as a denominator, or a short trend with the US as a numerator will make sense.

Is it working? I don't know yet! Just started to play with it.
  • #1,579
  • Apr 13, 2007 11:30am Apr 13, 2007 11:30am
Correction,

GJ was actually stopped out for plus 14 pips at 235.00 not b/e.

Can't believe it's now trading at 236.50 again - would've still been in the trade on my complementary system but it looks like it's been another mad Friday.

Kind Regards
Steve

Quoting steviet
OK, two positions stopped out - UJ for minus 49 pips & GJ for break even.
  • #1,580
  • Apr 13, 2007 11:35am Apr 13, 2007 11:35am
Hey there

Yes, the system as it is can be extremely frustrating at times & you'll see I'm also trying to be a little more easy on the stops and looking to s/r in my complementary system.

It's getting that balance right between getting stopped out too often and keeping the losses small & winners big.

Market has been really annoying recently but that's what I've got to trade and as you say, I don't want to be stuck to the PC all day when there are far more interesting things to do.

Keep reading & I'm sure I'll come up with some kind of solution.

Kind Regards
Steve

Quoting alcastro
Hi Steve,

I just noticed something in your thread. Go back to your first post....who was the 1st one to post a message after you?.......ME!!!!!!!!!! I am feeling very proud about that. Hey...I've been following your journey since it left port!!!
Do I get a prize for that?

On the other side: as you know I really want your system to work because it will fit beautifully with my "desired" life style, and I share completely your philosophy: I want trading to become my source of income and wealth.....but I do not want to become an individual that is glued to his computer for hours without end chasing pips...and sweating losses.

So I have been tinkering with your system and I do not have the solution. But after looking at some of the charts that ISO has posted, and at his TL's and stops I am trying to be more relaxed with my stop placement, and as long as the trade is in a trend I will let it run more loosely. And as soon as they break a support/resistance line after a short consolidation pattern, and the price is again on the move, I will move my stop under that line, and fix it there for a while. I am considering the fundamentals as well, to make sure I am in the right trend. (right now everybody is dumping the $US), so probably a long trend in any pair that uses the US as a denominator, or a short trend with the US as a numerator will make sense.

Is it working? I don't know yet! Just started to play with it.
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