Steviet's Live Trades!

Yup, may mean stops are taken out on low liquidity too - in fact there goes the high from yesterday & the day b4.

Your thread is interesting. It opened my eyes as far as what discipline really entails. I think it means sticking to your trading plan as far as stop loss is concerned.

May I ask how your micro account perform so far since you started this thread?
Do you use market orders or entry orders most of the trades?

Thank you. Have a good day!

Hi Robert and welcome,

Thanks - yes, formulating and then sticking to a plan is not easy but has to be done or the market will eat you for breakfast.

Even discretionary traders will have certain rules regarding entry & exit.

Over the 3 years I've been on quite a journey and basically learnt as I went along (and still am, I don't think you ever really stop). Most months I eek out some profit from somewhere lol.

Trades at the moment are placed using market orders although I have used stop and limit orders in the past.

Kind Regards
Steve

I'm a discretionary trader and I have a very strict rule for entries.

I look at the chart and say to myself.."Shall I have a pop at this one?" If the answer's yes then I trade. When the trade is running I ask myself.."Can I squeeze some more out of this one?" If the answer is no then I close.

As the man from Meerkat.com said.."Simples, tchk!"

Don't you mean simples?

Hey, how was France?

Corrected. France was good. I posted some photos in the Redux thread. Hope you got your body clock sorted now .

Daily long stopped out at 1.49504 for 83.9 pips (3.36%)

London open long stopped out for minus 1%.

Yet again it reversed to the pip at Frankfurt open - maybe it should be 0700 gmt that trades should be placed all year around?

Steve

PS, also grabbed 1% net from 3 scalps this morning

Hi Steve,

I read with gusto your posts and the method you employ... could you update us on your latest improvement that you may have made over the pass three years... or I may have miss out some of the core rules/system that you are now using it to trade.

I did read from head to tail... and it seems that you have made some changes to suit your style and market conditions...

I would like to learn form you... if I can...

Thanks

mike

Hi Stevie

I am glad to see that you are still around and trading forex. When I have a spare week I might take in the whole thread, but like you I still have a day job, and family, and so there are some necessary restrictions.

Good luck with your trading, and please keep up your journal.
Stephen

Hey there Stephen

Sorry for missing this - I rarely log in to FF these days and haven't updated the journal recently at all.

As you say I'm working full-time again with a longer journey to and from work - leave when its dark & get home when its dark

As such have had to slightly modify what I'm doing yet again but things are going well. I now open a trade at Frankfurt open instead of London open but results have been similar and having a good month.

The daily method has also been modified and having a ball with that just now. Been taking and banking shorts since EU broke the 50sma on the daily and closed below. First short was up at 1.48256 and today's short from 1.45303 sitting pretty at nearly 8% up. It's been a 12% day today so I'm full of festive cheer this week lol.

Great to hear from you, compliments of the season to you & yours - can't promise to update the journal now for various reasons. It's served its purpose as I've found my feet and hopefully helped a few along the way too. To be honest I now find it a real chore but I do try and keep up with what's going on here on FF.

Kind Regards
Steve

Wow - what a great thread, Steve.

As so many people before I can just thank you for your effort on this journal during your journey from the very beginning.
I spend the last days with reading your whole thread. This was very well spend time for me.

It's showing so great all the ups and downs. Sure just seeing ups would be great, but your journey is life, not marketing. Respect!

As a conclusion I can just say that I'm happy you're still around and feel sorry that you haven't had the long term success which you were so hard working for. At least not so far.
If I'm talking about success, I'm just talking (big) money wise... Besides that in my eyes you've been really successful. You gained so much experience, found new friends, had investors already and so on and so on. And you never blew up your account - you always increased it on the long run - that's something not lots of trader can say, I assume.

You gave me a great view on trading from a whole other side than I was seeing before.
It's definately not about double, tripple, quadralupe and whatsoever. I'ts about surviving and be consistent. So you have a chance to attract potential investors which really can be a big multiplicator if you're everything a trader needs to be but without the funds to make some big €/$/Pund etc.
That's showing a whole different perspective!

I'm very new to the whole Forex theme. I spend the last year with just reading, collecting information and filtering out the 90+ percent of scam I came around. Sure been Demo-trading here and there when I thought I had a "great" idea. So finally I found out that it's not easy and hard to get the feet on the ground for a long period of time. Whatever worked great in the past and today might not work tomorrow and could even kill you (the account) the day after if you don't know when to rethink the strategy. On the other side if you tinker your strategy too early you might see later on that you've not been able to use the original strategy while it was performing good.

I'm really happy that I came across your thread because it's showing so much what a potential trader has to go trough, even with the right MM strategies and lots of research.

One question at the end
Even if you changed strategies, had ups and downs etc: Why didn't you continue with your signal service. On the buttom line you continousely increased your account. One way or the other.
This could also be an income, couldn't it?

Best wishes for the future.

A shame you seem to have drifted away from this thread when many were enjoying it. I respectfully suggest you get back on track.

Well I'm still working full-time so forex has taken a bit of a back seat since late 2009.

Situation has forced me to return to the daily charts which has not been a bad thing. I'm still trading a variation of the London open method - due to setting off for work earlier the trade is now placed at Frankfurt open, an hour earlier.

This method has been running since June 2009 and is barely breaking even. I'm going to give it a full year but jury is still out. Methinks I'll end up just trading daily charts (hmm isn't that where I started in 2006? lol).

OK, so result for FF open in December was +1.45% and for January -2.06%

Daily results December +5.80% and January +15.64%

I'm not up to posting regularly so please don't be offended if I don't answer straight away. In fact most nights I get in from work & fall asleep on the sofa much to my family's amusement.

Kind Regards
Steve

You must have arrived about 1966 then. I used to laugh at my dad falling asleep in the chair after tea. The only difference is I fall asleep a bit later because there's more on the telly. That's if I don't fall asleep infront of the cable going nowhere about 8pm.
I've decided that if I don't trade by 10 in the morning on a day off then it's too dangerous after a days work and tea in case I nod off.
Nice to see you back.
Andy.

Yes, me & my mates used to think it was hilarious with dad falling asleep straight after his meal & snoring like a goodun!

Now, things have turned full circle & it's my kids laughing at me lol.

Its was 1967 by the way - I'm not that old

Greetings friend!

I hope all is well, I always make a point to browse the forum, and keep up with some of the threads, yours included.

It looks like you are staying busy for sure, and it prevents you from trading as much as you would like.

I know there are many setups on the daily chart, and the 4 hour, I personally like spending less time these days and trading about 2-4 hours when time permits.

I have been working on more of the scalping strategies then any other, because of time restraints.

Your aware of certain patterns and price action, why not just jump in a few hours a day, take some pips, and then call it a day on trading.

Not sure what time your around the charts, I like picking off Asia session, and usually early NY, and there are many pips to collect with little risk and good lots size to make nice profits.

Let me know if I can help you in any way bro.

Cheers and have a great weekend!

Hey there Ken! Long time no speak.

Things are very busy outside forex and I think it's been a blessing in disguise that screen time is limited.

It's forced me to rethink my trading around my new schedule and by primarily going back to the daily charts I don't need to be around the laptop so much.

On daily EURUSD was long through the latter part of 2009, only reverting to a bear on 7th December and I've been short since 1.4826.

I've never been so relaxed as I am now with my trading - maybe we all have to go through the challenges life & forex throws at us before we settle on a style that fits our personality.

It really was good of you to drop in Ken -best wishes to you & yours for 2010

Kind Regards
Steve

Well February was another profitable month overall despite the Frankfurt Open trades again failing to make a profit.

I have decided to stop making trades at Frankfurt open - the method was really devised to take advantage of reversals at London open but due to having to leave for work earlier, it was brought forward an hour.

Frankfurt open trades lost 6.21% in February - corresponding trades at London open would have netted over 12% profit. Therefore the method is put on the back burner until I can trade it again from London open.

The daily method again had a reasonable month with a 8.8% gain and it means I only have to look at the charts once a day.

Have a great March peeps

Kind Regards
Steve

Thanks for the update, great work

I wish you good trading for March Steve