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  • #364,501
  • Jan 13, 2011 7:40pm Jan 13, 2011 7:40pm
Quoting Magix
Read????

Kids????

Books???

Cripes no...I wanted to keep him motivated, he is an XBOX gaming sniper...I just turned this shit into a game of sniping...instead of frags, he gets a paycheck...

All honesty T...I am not what you call a student of the theory, more of just a practitioner from the school of, "If at first you don't succeed"

Skydiving is not for you...

You've got the right plan, how soon I forget.. kids don't read these days! That's good though, if he gets the forex bug at his age and sticks w/it he may have his own hedge fund by 25 or 30..
  • #364,502
  • Jan 13, 2011 7:41pm Jan 13, 2011 7:41pm
chart
Attached Image (click to enlarge)
Click to Enlarge Name: 1m eur.gif Size: 16 KB
  • #364,503
  • Jan 13, 2011 7:42pm Jan 13, 2011 7:42pm
Quoting loureed10
"Trading for a living" is more amusing...
Hmm, looks good and only $12 bucks at B&N online.
  • #364,504
  • Jan 13, 2011 7:42pm Jan 13, 2011 7:42pm
Quoting Magix
Read????

Kids????

Books???

Cripes no...I wanted to keep him motivated, he is an XBOX gaming sniper...I just turned this shit into a game of sniping...instead of frags, he gets a paycheck...

All honesty T...I am not what you call a student of the theory, more of just a practitioner from the school of, "If at first you don't succeed",

Skydiving is not for you...

Since it's free to do so, you should have your kid get his business license and run everything under his business ... between learning how that operates and doing taxes, i think that would be a big plus .. I started a business at 17 and just learned from little mistakes & just 'doing it'.
  • #364,505
  • Jan 13, 2011 7:46pm Jan 13, 2011 7:46pm
Quoting Trendstar
Hmm, looks good and only $12 bucks at B&N online.
Very interesting book.
  • #364,506
  • Jan 13, 2011 7:48pm Jan 13, 2011 7:48pm
Quoting mikej2010
Since it's free to do so, you should have your kid get his business license and run everything under his business ... between learning how that operates and doing taxes, i think that would be a big plus .. I started a business at 17 and just learned from little mistakes & just 'doing it'.
Not a terrible idea...that might be a way to get him past the age restriction on trading....

Wonder if ya gotta be limited or if a sole proprietor can open a trade account???

And, nothing is free...Cannot remember what a business license is for a sole prop, but after registries cuts you for a name search, license is not free. From there, the Cannuck GOVT want a GST number for you to track all your shit..
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #364,507
  • Jan 13, 2011 7:51pm Jan 13, 2011 7:51pm
My opinion on todays rally.
lots of traders expect the eur to drop to 12600 and below ,when we broke the strong 1.3080 area many would have entered a short position many would have been adding to existing short position ,then today china ,japan buying the debts of portugal italy spain and confident words from ecb ,bad us employment figures all went to create a bullish sentiment .

once we broke back through 3080 to upside strong shorts exiting there position would serve to exaggerate the bull run .

High probability we could at least see some profit taking by the big fat dogs now lol.
they will monitor to see how high it will go now before taking profits ,we may see some retrace in asian session but if we get to above 3400 then 3430 was a great sell area .
I'am short 1.3336 first entry and will add to it unless we break 3500 at which point i will close shorts.my profit targets will be determined by the retrace levels when we establish a top to attach my fib tool to.
wishing all merry pips
making green pips large and red pips small this is my goal.
  • #364,508
  • Jan 13, 2011 7:54pm Jan 13, 2011 7:54pm
Quoting Magix
Not a terrible idea...that might be a way to get him past the age restriction on trading....

Wonder if ya gotta be limited or if a sole proprietor can open a trade account???

And, nothing is free...Cannot remember what a business license is for a sole prop, but after registries cuts you for a name search, license is not free. From there, the Cannuck GOVT want a GST number for you to track all your shit..
damn ... 'free' enough ... I was talking just the 'license' itself to practice business.

Off the top of my head you can do one of a few things .

1. have him use a roth IRA under the business's name or some kind of account similiar.

2. Put your name on the business with him as the owner with 99% or something along those lines to get past the '18' mark

3. open a forex account and hire your son's business to handle it! nothing illegal about that I don't think.

Either way, when he has to do his business taxes he will 'grow up' fast if he hasn't already, and nothing makes you more proud of yourself then earning a paycheck & doing your taxes under your own names.

Hell you could be his employee!

But I favor if I were you having it 100% under his name so he can learn and fall on his own. But it sounds like that is already your mindset.

-edit -

Lim or Sole, probably doesn't matter much as long as it is designated correctly and you pay the proper taxes & have the proper tax forms.
  • #364,509
  • Jan 13, 2011 7:57pm Jan 13, 2011 7:57pm
Quoting OldQuant
This may have been answered to your needs, and I think you have gone for the night, but here is a general formula for such a "touch" problem:

Denote two points on the target reference trend line or barrier as (P1,B1) and (P2,B2), where P[.] is the price level at the known points, and B[.] is the bar index, counting back from "now as zero", or absolute time like minutes since midnight, or any other constant scaling.

Then, for bar index b, the level p, at which that bar will touch the reference line is:
p = ((P1-P2) b -P1*B2 + P2*B1) /...
I can't make any sense of your formula. If we want to know the level at b=5, for example, we'd expect it to be 103 (11 down from 114, given the gradient is -1). According to your formula:

p = [(120-114)(5) - (120)(-6) + (114)(-12)] / (-6)
= 30 - (-720 - 1368) / (-6)
= 30 - (-2088) / (-6)
= 2118 / 6
= 353

The general formula for a line is y=mx+c, or using your choice of variables, p=mb+c. m is the gradient; m=(P2-P1)/(B2-B1). c is the value of p at b=0; given by p-mb, or for the variables we know:

P2 - B2((P2-P1)/(B2-B1)) = 114 - (-6*-1) = 108, or
P1 - B1((P2-P1)/(B2-B1)) = 120 - (-12*-1) = 108

so:
p = mb + P2 - B2m
= m(b - B2) + P2
= P2 + ((P2 - P1)/(B2 - B1))(b - B2)

For b = 5, this gives:
= 114 + ((114 - 120)/(-6 - -12))(5 - -6)
= 114 + ((-1))(11)
= 103
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #364,510
  • Jan 13, 2011 7:57pm Jan 13, 2011 7:57pm
time for bed , good night everyone and good luck!
  • #364,511
  • Jan 13, 2011 8:04pm Jan 13, 2011 8:04pm
I showed him the moon, he looked at my finger.
Quoting iflyjetzzz
Decrypted? (Big word for u?) Give me a break. Man, you gotta stop the jibberish. Some newbie might actually think you know what you're talking about. Some idiot might not believe me in the face of overwhelming evidence.

I don't know the direction prior to Fri close; (clueless)too much data coming out. However, since we've had a damned good run north, odds are that it'll go south into Friday's close. (Gamble short)

You're a broken clock. Correct twice a day; wrong all other times.
Someone else used the broken clock line a couple days ago, did u copy n paste?

I've performed miracles on here, constantly for nearly a whole year and still getting abuse? And u havn't a clue whare the market is going!

Seems u think I'm full of it, let me help u out. I'm gonna inbox u every time I get it right (averaging 4 out of 6 calls producing 100/150 pips days about 3 times a week. To help with your confusion and give u pleanty to read.
Founder of Sutherland Wave Principle
  • #364,512
  • Jan 13, 2011 8:04pm Jan 13, 2011 8:04pm
Quoting gatorinla
looking for a north setup about 3320/21/26 3288 3248 scalp/?
waiting 4 a candle
those who can, do. those who cant, talk about those who can
  • #364,513
  • Jan 13, 2011 8:06pm Jan 13, 2011 8:06pm
Quoting gatorinla
waiting 4 a candle
what target? just asking because there isn't a clue in the world that i have seen as to what the coming sessions are going to bring beyond speculation
  • #364,514
  • Jan 13, 2011 8:07pm Jan 13, 2011 8:07pm
The next targets
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  • #364,515
  • Jan 13, 2011 8:16pm Jan 13, 2011 8:16pm
Quoting mikej2010
what target? just asking because there isn't a clue in the world that i have seen as to what the coming sessions are going to bring beyond speculation
3326 is a 200% fib.. but im looking for a entry wherever it may be.. other level on chart. as posted. we appear to target 3416.5 +.. so i wait for a candle entry.. that may be 3320.1. i dont enter w/o candle ect. agreement.
Attached Image
those who can, do. those who cant, talk about those who can
  • #364,516
  • Jan 13, 2011 8:20pm Jan 13, 2011 8:20pm
Quoting buonvangvn
The next targets
At around 1.3330, after some strong and convulsive movement, I thought it was a cert that it would make it to the trendline @ 1.3403. It failed to get there by a measly 20 pips. That doesn't suggest a continuation to me. Look at what happened both times recently that it did exactly that - Dec 13 and Dec 31. The following day it limps to the trendline and then immediately drops like a stone.

On the other hand, I can see it dropping perhaps, but not like a stone. 4 Jan - 9 Jan, down from 1.3433 to 1.2875. 10 Jan - 13 Jan up from 1.2873 to 1.3382. Whatever it does next, it won't be down quick. Down slow, up quick, up slow, sideways.
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #364,517
  • Jan 13, 2011 8:20pm Jan 13, 2011 8:20pm
Quoting gatorinla
3326 is a 200% fib.. but im looking for a entry wherever it may be.. other level on chart. as posted. we appear to target 3416.5 +.. so i wait for a candle entry.. that may be 3320.1
okay, just curious more then anything ... try to see what the collective opinion is past 'it's a bull-run' ...

The run yesterday was done off of words & it was done to satisfy the investors, Just wondering if & when the profit taking will commence and since some bulls had some good runs ... just wondering of course where the stops are places below .3300
  • #364,518
  • Jan 13, 2011 8:20pm Jan 13, 2011 8:20pm
exit short @3325, waiting.
  • #364,519
  • Jan 13, 2011 8:25pm Jan 13, 2011 8:25pm
Quoting autopips
At around 1.3330, after some strong and convulsive movement, I thought it was a cert that it would make it to the trendline @ 1.3403....
I agree with you. time and time, sideways up and down.problem that many people need it most: entry and profit.

Good luck .
  • #364,520
  • Jan 13, 2011 8:27pm Jan 13, 2011 8:27pm
Quoting Mr Hatch
exit short @3325, waiting.
waiting up or down .
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