It's always difficult to gauge where the market actually is. You started 4 days ago with the price right at the top of the range well over 160. We've obviously had a big dip these last two days but price in the 157's is still in the middle of the ...

Steviet's Live Trades!

LOL Iso, Yes, that's the thing you really don't want to happen by having them all stuck at one end of the range. I've been there & all you can do (unless you break the rules, which is tempting but don't!) is to make as much as you can with the ...

Steviet's Live Trades!

Difficult One — Hi Alpiner, As I don't trade EURJPY I can't give you first hand experience but let's take look at the daily charts. Since the turn of the year, we have a high of 162.30 and a low of 152.18, a nice 1000 pip range and during that ...

Steviet's Live Trades!

Hi Pippopotamus Yes, using the method I do (50 pip tp &1000 sl), entry is the least important part of my strategy. Of course it's nice to get an exact entry - one this morning was a 50 pip 2minute trade but I can't pretend it happens that often. ...

Important – Why systems are profitable (or not)

Sorry Rob for being a little short with you . I've just got in from another hard day's slog at the office lol. It is this method, however entries are not random - I trade within a range taken from the daily charts and am looking for specific ...

Important – Why systems are profitable (or not)

LOL, it's worked for the last 6 months over 750 trades but OK I know it works for me, my investor knows it works for him - 6 consecutive profitable months so neither me or he is complaining. Kind Regards Steve

Important – Why systems are profitable (or not)

Hi Alpiner, Yes, the first few days you should pick up a fair few pips but I think what you said there hits the nail on the head. I feel very relaxed when trading - there's no panic if an entry is missed and no worry about a stop loss being hit ...

Steviet's Live Trades!

That's quite OK Yup, certainly have a play around with it on demo until you're happy. Kind Regards Steve

Steviet's Live Trades!

Hi there By all means test it on a demo account for a while to get used to the method. EURJPY is not quite as volatile as GBPJPY so maybe a 40 pip t/p and 800 pip s/l would be about right. As far as checking trades is concerned, I'm normally able ...

Steviet's Live Trades!

Well, it's great to see us 'older newbies' having some success and now trading OPM. Just had a quick peek at your site - very impressive You're right about the discretion within my method. The rules are set in stone but otherwise it's up ...

Steviet's Live Trades!

See Iso, I told you your calculations were wrong : I just know it works and has continued to work for some time and that's really all I'm worried about. Thanks hilmy for the clarification & good to see you around. Kind Regards Steve

Steviet's Live Trades!

Hi there, I see you're from the UK like me. OK, spot forex you do have to pay tax on but you can claim the first £9200 (or £18400 if you have a partner & place in both names) using your capital gains allowance. Spread betting as you rightly say ...

Newbie Tax Question?

Thanks for that Iso! I'm sure you have your numbers spot on - just to say on my own account I get the 8 pip spread, however on the managed account through SaxoBank I get a 5 pip spread typically which has proved an advantage. Hope you're enjoying ...

Steviet's Live Trades!

Hi Malcom, I often pop in here and just wanted to say I'm very impressed with the quality of your posts. In my opinion, the last sentence of your post is extremely important. Getting 'married' to a particular trade or direction is the quickest way ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

David, I've updated that post to include something I've incorporated since the New Year. url Very well written post again but I wouldn't expect anything less of you Kind Regards Steve

Important – Why systems are profitable (or not)

LOL David - thanks for your post As you'll see I've just updated that post so it may be prudent to change the link in your thread. BTW, have you ever thought of writing a book? Kind Regards Steve

Steviet's Live Trades!

Method Update — Following David's post here url I thought I'd update this post url with an adjustment I've incorporated since trading a much larger account... OK, I'll try and sum up how I trade GBPJPY and the rules I apply.... Firstly the ...

Steviet's Live Trades!

That's right, I would manually close any single trade in profit at NY close.

Steviet's Live Trades!

Thanks On this pair anything less than 1000 would be flirting with disaster due to the volatility. Certainly if you tried something similar on other pairs (as Scott is doing), then a smaller stop loss (and take profit) would be more appropriate. ...

Steviet's Live Trades!

Hope you like green!

Steviet's Live Trades!