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Steviet's Live Trades!

  • #3,641
  • Feb 27, 2009 9:14am Feb 27, 2009 9:14am
Quoting Leonlorenzo
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...
Hi Leon,

Sorry I haven't got back to you before now. Hope you are able to gain a place to continue your studies - from the little I know about you I think you are about as stubborn as me and you will get there

Kind Regards
Steve
  • #3,642
  • Feb 27, 2009 9:22am Feb 27, 2009 9:22am
Quoting steviet
Well I suppose I should be happy as I turned in a 2.5% profit in January.

However, just a few days ago was in double figures for the month but had a stinking week on GBPJPY this week and I'm just about to chuck my laptop in the nearest lake after writing this LOL.

I'm trading mainly GJ these days and taking the occasional daily pin bar trades on other pairs.

On GJ I trade mainly on the hour, 4 hour or daily charts using simple trendline breaks, breaks of support/resistance etc. I also take the odd trade off the 5 min charts too. It's a new...
Well I've finished my trading for the month and another profitable one. Only 3.66% but GJ hasn't been easy for me these last couple of months. The positive to take is that I'm still turning in a profit, allbeit small, and I'm sure there will be easier months to trade.

GJ has formed a temporary bottom and things are always wild when there is a possibility of a trend change. Some are calling for new lows, others for 150+.

Add into the mix the rumour of BOJ intervention and UJ targeting 100 again it's all good fun lol.

Steve
  • #3,643
  • Feb 27, 2009 12:26pm Feb 27, 2009 12:26pm
Quoting steviet
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...
Hey Steve,

Thats a great post, solid truth.

Good job on the returns this month, nice to see some people in the journal section actually talking in true percentage terms. Not the 23143212pips a week I have seen around here lol.

I will commence reading this journal this weekend. Hope to gain some knowledge from it and if not hoping for a good read anyway

Hope you still post in this journal as you (from what I have read so far) know what you are talking about.

Regards
Jig
  • #3,644
  • Feb 28, 2009 7:09am Feb 28, 2009 7:09am
Quoting Jigsaw
Hey Steve,

Thats a great post, solid truth.

Good job on the returns this month, nice to see some people in the journal section actually talking in true percentage terms. Not the 23143212pips a week I have seen around here lol.

I will commence reading this journal this weekend. Hope to gain some knowledge from it and if not hoping for a good read anyway

Hope you still post in this journal as you (from what I have read so far) know what you are talking about.

Regards
Jig
Hey Jig, good to see you here

LOL, you'll certainly have a good read with a warts n all account of a complete newbie as he faces the trials & tribulations of the market. I'm a little embarrassed looking through those early posts but we've all been there!

Yes I've learned at lot since then but I don't think you ever stop learning. The day you think you know it all the market will bite you on the bum to keep you in check lol.

Still making mistakes but fewer these days and every day is still a challenge. Then again no-one said it was easy and I think those that are stubborn, keep going and are prepared to carry on learning and stay humble are the ones that ultimately succeed in this business.

Hope you enjoy the read & if the only thing you get out of it is the fact that if that idiot Steve can do it then I know I can, then thats cool

Kind Regards
Steve
  • #3,645
  • Feb 28, 2009 10:52am Feb 28, 2009 10:52am
Quoting steviet
Hey Jig, good to see you here

LOL, you'll certainly have a good read with a warts n all account of a complete newbie as he faces the trials & tribulations of the market. I'm a little embarrassed looking through those early posts but we've all been there!

Yes I've learned at lot since then but I don't think you ever stop learning. The day you think you know it all the market will bite you on the bum to keep you in check lol.

Still making mistakes but fewer these days and every day is still a challenge. Then again no-one said it was easy...
Hey Steve,

I have really enjoyed watching you grow. I hope people really take the time to read what you wrote in this post. I think this is why most people fail at this. It's a lot of work and a lot of picking yourself up and brushing yourself off. For me the more times i have to do this the more times I'm able to make another step forward. You see we don't learn when things are going good we learn from getting knocked down and picking ourselves up.

Good luck to you!


Trade Well...
Brent
  • #3,646
  • Feb 28, 2009 1:07pm Feb 28, 2009 1:07pm
hi steviet

can u plz post u r sys (thet wod be graet)

i cant find it


thank u
  • #3,647
  • Mar 14, 2009 10:44am Mar 14, 2009 10:44am
Quoting Superscalper
hi steviet

can u plz post u r sys (thet wod be graet)

i cant find it


thank u


I will save Steve the effort.....just look back couple of pages, post 3613??? The answer to the next question is "the rules are somewhat discretionary" read "james16
  • #3,648
  • Mar 14, 2009 11:01am Mar 14, 2009 11:01am
I hope Steve knows that WHEN i can demonstrate steady profits were starting a Multi-million Pound Fund together.
Living the adventure in my head.
  • #3,649
  • Edited 7:52pm Mar 19, 2009 6:29pm | Edited 7:52pm
Quoting steviet
Important thing is to brush yourself down & prepare for the next day
Indeed
I just started reading this thread a few days ago and decided to test it myself on a very tiny account (0.01 pp).

The hardest part of it all is to see in the next 4-6 hours your positions going up to around 300 pips... and end up later on with everything stopped for minus 231 ("only" 3% of the account anyway).

The mistake I made was at the entry (so "obvious" an entry for a counter-trending scalper as I am hahah... with all those huge spikes about to pullback - which they did... but the trend resumed thereafter).

It is really hard to overcome the temptation to close the positions when everything is green and soooo positive

Thus I have a question (if this has already been answered please disregard, I am barely at page 29 of the thread and going slowly): when you enter for example on a strong trend push as yesterday's, which almost invariably will bring about a pullback, do you wait for the pullback to occur and then enter at a better price? or do you just enter at the market price at 22:00 GMT whatever it is?

In fact I was really tempted to follow the trend but the CT scalping habits took over my decision. And I was unsure about the pullback thing though I guess that should be discretionary?

It is not so easy to switch from immediate term to a daily/weekly term... but I really would like to be able to follow a longer term strategy and overcome the "early close" which is one of my "bad habits" and the main reason why I decided to be a scalper... and it is good to learn to see several points of view of the same picture

What I like the most of your system is that it is extremely simple and mostly manages itself. Thanks!
  • #3,650
  • May 21, 2009 9:38pm May 21, 2009 9:38pm
Hey, Steve... sure do miss your posts.
  • #3,651
  • Jun 1, 2009 11:19am Jun 1, 2009 11:19am
Hi Steve,

Are you still raking in the pips?

Let us know so we can know if the dream is still happening!

I gave up about 4 months ago after losing many 10s of thousands and more over 3 years.

I was just thinking of you and wondered if it was still working out for you.

Please let us know how you're getting on.

Donagh
The more I wait the more I make
  • #3,652
  • Edited 8:19am Jun 9, 2009 8:01am | Edited 8:19am
Well it's been a long time since I posted an update so I guess here goes...

Due to being unable to attract a new investor I've had to eat some humble pie and return to work part time (urghh!) at least for a few months.

However, there is a silver lining to this particular cloud - the situation has forced me to re-think new methods so I'm able to trade around the times I'm at work. I'm trading some funds (around £7k) for myself and this is supplementing my salary nicely so far.

There is no way on God's earth that I'll be beaten because I'm a stubborn (old) bugger and I know that I'm actually pretty good at this

Don't visit FF that often but continue to be mighty impressed with those guys over at J16 who selflessly give their time and knowledge to all comers. Yes, you know who you are, Jim, Mike, Clockwork, jarroo to name but a few (apologies to those missed) and a new kid on the block by the name of Aaron (TiaForex), whose posts are diamond.

Anyway, Steve is still alive & well for anyone interested haha

Kind Regards
Steve
  • #3,653
  • Jul 7, 2009 1:33am Jul 7, 2009 1:33am
Greetings steve!
what's your part time work now?
yes, i see u on James16 thread right now & a few days/&weeks ago.
Hope u post there from time to time too.
Nice, long-standing thread. Keep it up!
  • #3,654
  • Jul 7, 2009 6:33am Jul 7, 2009 6:33am
Hey there supreme

Yes I can often be found lurking on the James16 thread to see how my old buddies are doing.

I'm actually working part-time (3, 4 sometimes 5 days a week) at my old workplace, a financial institution.

Been doing a great deal of research to come up with something that works around my work commitments but would also mean that when I do have time off can still trade without being glued to the screen. So I'm now trading a method based around the London open which is totally stress free and I can leave the trade alone until my return from work at around London close. From there it's either been stopped out or I can make a decision when to close using my exit criteria.

Since trading it live on 15th June have realised 9.74% profit using 1% risk per trade and just 1 trade a day. It's a fairly low win % method (between 25 and 30%) but the r:r averages out at around the 1:4 mark. 1:6 or more is not uncommon so you can see that the big winners wipe out small losses

Love your posts over at the J16 thread & I'll keep lurking there if you dont mind

Kind Regards
Steve

Quoting supremeChaos
Greetings steve!
what's your part time work now?
yes, i see u on James16 thread right now & a few days/&weeks ago.
Hope u post there from time to time too.
Nice, long-standing thread. Keep it up!
  • #3,655
  • Jul 7, 2009 6:46am Jul 7, 2009 6:46am
OK, what I'll do later is get this journal re-started with a quick explanation of what I'm doing.

I've not been posting regularly for some time so let's see how we go.

Laters
  • #3,656
  • Jul 7, 2009 2:00pm Jul 7, 2009 2:00pm
As I mentioned earlier, I've been looking at a way of trading alongside my work commitments. There are loads of systems around that could be successful using the correct money management but above all the system has to suit the trader.

With this in mind I poured through hourly charts going back years on EURUSD looking for something that was worth checking out.

I was particularly looking at London opening (currently 8am BST) for anything that jumped out at me, as that is a time I am always around to place a trade. Then I saw something that maybe only happens between 5 & 10 times during an average month, something that could be taken advantage of.

I noticed that the hourly bar prior to London open on occasion made the high or low for the whole day and London then reversed. These were the days I was interested in to see if there was any mileage in this.

Then came the lengthy process of testing month by month, year by year and coming up with an appropriate plan for entry and exit, together with an ideal stop loss. For example, by using a higher stop loss I could increase the win rate but this in turn would decrease the % on the winning trades.

There are strings of losses that would not be easy for some to take and often if it isn't my day the trade will be out for a loss within 30 mins of London open. Record so far is 3 mins lol. Only one trade a day is permitted with 1% risked a day.

After the testing process I decided to go live with the method on 15th June, results of which I shall post later. So far results have been absolutely in line with testing and due to the small stop loss, works as well in ranging markets as it does in trending markets.

Steve
  • #3,657
  • Jul 7, 2009 2:06pm Jul 7, 2009 2:06pm
OK, I believe that rules have to be simple so there is no chance of deviation from the plan.

1. Money management - 1% risk = 25 pips.
2. No profit target
3. Entry at 8am BST in the opposite direction of the Frankfurt hourly bar just finished.
4. If trade still open at 6pm London time, then manage exit using MACD.

That's it, no room for discretion, no indicators apart from using MACD to determine exit.
  • #3,658
  • Jul 7, 2009 2:29pm Jul 7, 2009 2:29pm
June 15 long 1.3893 close 1.3868 = -1%
June 16 short 1.3848 close 1.3873 = -1%
June 17 short 1.3914 close 1.3871 = +1.72%
June 18 short 1.3961 close 1.3986 = -1%
June 19 long 1.3924 close 1.3899 = -1%
June 22 long 1.3863 close 1.3838 = -1%
June 23 short 1.3864 close 1.3889 = -1%
June 24 short 1.4131 close 1.3965 = +6.64%
June 25 short 1.3970 close 1.3936 = +1.36%
June 26 long 1.4032 close 1.4079 = +1.88%
June 29 long 1.4012 close 1.4073 = +2.44%
June 30 short 1.4126 close 1.4041 = +3.4%

June total +11.44%

July 01 short 1.4062 close 1.4087 = -1%
July 02 long 1.4102 close 1.4077 = -1%
July 03 short 1.4023 close 1.3971 = +2.08%
July 06 long 1.3939 close 1.3914 = -1%
July 07 long 1.3936 lose 1.3911 = -1%

July so far -1.92%

I'll be updating each morning with the trade for the day. Until then,

Kind Regards
Steve
  • #3,659
  • Jul 8, 2009 1:10am Jul 8, 2009 1:10am
Quote
Hey there supreme
Yes I can often be found lurking on the James16 thread to see how my old buddies are doing.
I'm actually working part-time (3, 4 sometimes 5 days a week) at my old workplace, a financial institution.......
Love your posts over at the J16 thread & I'll keep lurking there if you dont mind

steviet,
of course not! lol
lurk as much as u want! & maybe post some too..
(I see u there now, again )
i have been curious, for at least 5-6months.... is the avatar picture yours?
Thanks Sir!
  • #3,660
  • Jul 8, 2009 1:17am Jul 8, 2009 1:17am
Hehe, spotted again lol

& yes it's mine

Take care

Steve
Quoting supremeChaos
steviet,
of course not! lol
lurk as much as u want! & maybe post some too..
(I see u there now, again )
i have been curious, for at least 5-6months.... is the avatar picture yours?
Thanks Sir!
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