OK, we are open for a new week Three new trades.......... USDCAD short from 1.1792 (s/l 1.1854 guarantees minus 62 pips) USDCHF long from 1.2535 (s/l 1.2465 guarantees minus 70 pips) USDJPY long from 121.49 (s/l 121.10 guarantees minus 39 pips) ...

Steviet's Live Trades!

Hi Jean-Louis & welcome I initially tested only these 5 pairs because of the small spread - my first backtest was done on the basis that each trade was closed at the end of each day & then re-opened. I soon changed the method to what it is now ...

Steviet's Live Trades!

All my trades are with a 1:100 leverage, which is standard with my broker. Kind Regards Steve

Steviet's Live Trades!

haha, ok

Steviet's Live Trades!

So, what I do is calculate my pip size using my account balance rather than the initial stop loss. Effectively on my two pairs ending in USD, if my initial stop loss is less than 100 pips then the risk is less than 2%. The other three pairs starting ...

Steviet's Live Trades!

Thanks for the clarification

Steviet's Live Trades!

Money Management — Hi Mikhail, The answer is here somewhere but I guess it's not easy to find. OK, the 10% is an average as is the 2% - normally it works out far less risk but occasionally more. I trade a micro account because of my lack of ...

Steviet's Live Trades!

Nope, I trade 5 pairs simultaneously on daily charts. One of my rules is that if I am stopped out of a trade on a particular day, I do not open a new trade on that pair until the start of the new daily bar (10pm gmt on my charts). I was stopped out ...

Steviet's Live Trades!

Well we're just about to close for the weekend and stop losses have been adjusted on my 2 remaining open trades..... EURUSD short from 1.2930 (s/l 1.2955 guarantees minus 25 pips) GBPUSD short from 1.9693 (s/l 1.9692 guarantees plus 1 pip (whoopie ...

Steviet's Live Trades!

Every trade is run to the bitter (or better) end which is how I tested the set up initially. I never close early even if it means having a trade over 100 pips in profit reverse to break even or worse. That's why I'd be surprised if many would trade ...

Steviet's Live Trades!

Attached is a chart for GU daily showing the rising trendline from early October 2006. It shows it's currently at around 1.9473 so there is a possibility this move could hit it again in the low 9500's if we continue down from here. Would also be ...

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That's it - take the basics of method and make it your own Kind Regards Steve

Steviet's Live Trades!

Completely agree & couldn't have put it better myself NP - hi by the way Kind Regards Steve

WaveTrade

Hi, I've heard Steve Nison's books on candlestick patterns are very good - just 'google' him and you'll find what you're looking for. To be honest, I've just learnt as I've gone along and put in a great deal of study time to make sure what I'm doing ...

Steviet's Live Trades!

Hi, I think most of your questions have been answered somewhere in my journal but I appreciate it's probably like looking for a needle in a haystack lol. I do look at weekly bars but trade off the dailys and seem to have just got a feel for where ...

Steviet's Live Trades!

Yup, often we do see a continuation from Friday into Monday until the market decides where it's going. I'll stick to the plan and move my stop losses as always and take what the market gives me. Made 300 pips on the way up (although it was over 450 ...

Steviet's Live Trades!

They may be great for you lol - I was rather hoping for a close below 9600 & a possible break of 9557. Todays high will be 9682 on my platform so i can move my stop loss to 1 pip in profit - yipee It looks like a doji may be forming on the ...

Steviet's Live Trades!

Well, USDCAD appears to be my nemesis again lol. Just stopped out for minus 18 pips. Currently my EU short & GU short are up by 120 pips so some positive US news this afternoon would be handy Total pips for Jan 07: plus 716 pips Cumulative since ...

Steviet's Live Trades!

Hi Rick, Yes, I'll be doing this for the full year - a promise is a promise If just one person (as well as me lol) has gained anything from this to help their trading strategy then I reckon it's a job well done. From what I can gather you're ...

Steviet's Live Trades!

Talk about a perfect week Well done my friend Kind Regards Steve

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