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The College Trader

  • #61
  • Sep 21, 2009 7:01am Sep 21, 2009 7:01am
Im an unsuccessful engineering student at uwa in australia and an even more unsuccessful trader
  • #62
  • Sep 21, 2009 9:10am Sep 21, 2009 9:10am
Quoting bksujal
my advice to u 2 bfore u start trading live wud be 2 atleast double your demo account with minimum drawdown
really thanks for your reply, I always want to be best prepared when I start something (especially when it comes to money), so I have chosen the strategy(in my opinion best for me) and I want to learn it well, after a few months I intend to play live,
cheers
siem
bOOm!
  • #63
  • Sep 21, 2009 9:26am Sep 21, 2009 9:26am
Hey,

Great idea for a thread. Just joined the forum to introduce myself. I'm currently a student at LSE (London School of Economics) looking to get into trading. I've just read up on the basics of FX trading and I'm opening a demo account now.

If anyone has any words of wisdom or can share their experience on how they've learnt to trade, I'd really appreciate it.

Happy trading!
  • #64
  • Sep 21, 2009 12:30pm Sep 21, 2009 12:30pm
Quoting alimo
Hey,

Great idea for a thread. Just joined the forum to introduce myself. I'm currently a student at LSE (London School of Economics) looking to get into trading. I've just read up on the basics of FX trading and I'm opening a demo account now.

If anyone has any words of wisdom or can share their experience on how they've learnt to trade, I'd really appreciate it.

Happy trading!

Hello alimo, My best friend just graduated from LSE last fall, he is now working on a CPE management program there now. Im actually going to be in London on Oct 1-4. Just a nice weekend trip and break from studies
  • #65
  • Sep 21, 2009 12:32pm Sep 21, 2009 12:32pm
Quoting siem
art college, poland. I'm starting second year on product design and I'm studying about 3 days a week, so I decided to earn extra money by trading. I'm learning to play more than one year, and I want to start trading live this year.
good luck everyone,
siem

Trade a demo dude for a while, because if you start out trading real capital without experience you are just giving your money away to ur broker....But ur in the right place
  • #66
  • Sep 21, 2009 12:52pm Sep 21, 2009 12:52pm
Hey guys, right now I am watching the upper trendline in this descending channel I have drawn. If we would see a breakout to the upside of this channel, in my opinion I think we will be seeing some range trading for a bit between the two red levels. However, if price does respect this upper trendline I will short with very tight stops(7-15 pips) and I will be looking to take 1/2 profit when and if price touches this midline that I drew, then I will take full profit if it reaches lower trendline. Like always after price moves about 20 pips from entry point, I put stops to entry.
Attached Image (click to enlarge)
Click to Enlarge Name: current euro.jpg Size: 122 KB
  • #67
  • Sep 21, 2009 1:06pm Sep 21, 2009 1:06pm
Brock U in St Catharines ON, Canada.

glad to see this thread... was thinking to start something like it. I trade a few intraday strategies and am just learning to program EA's. is anyone else here in the process of learning the programing end of trading?
  • #68
  • Sep 21, 2009 2:06pm Sep 21, 2009 2:06pm
Quoting mfoste1
Trade a demo dude for a while, because if you start out trading real capital without experience you are just giving your money away to ur broker....But ur in the right place
hah so true, I trading on demo account from the beginning of my journey, and learning during playing, but as you said, new strategy = couple of months testing it on demo,
I'm really glad to hear that I'm at least one in the right place I hope we will all develop this thread!
cheers
siem
bOOm!
  • #69
  • Sep 21, 2009 2:22pm Sep 21, 2009 2:22pm
Quoting Rbi
Brock U in St Catharines ON, Canada.

glad to see this thread... was thinking to start something like it. I trade a few intraday strategies and am just learning to program EA's. is anyone else here in the process of learning the programing end of trading?
and sth about ea's, I had obsession some time ago about them, I was learning everything about programming them etc., and now I'm come to conclusion to trading without any robots and as less as possible indicators, but you know, this is only my opinion;] good luck in learning!
siem
bOOm!
  • #70
  • Sep 21, 2009 3:10pm Sep 21, 2009 3:10pm
hey, guys great work what you're doing, ive been on backtesting and forward testing on my MT4 demo account for quite a while now, with major success, i would like to go live now, and was wondering what broker you would reccomend, sorry if this is the wrong thread, i am a student using daily candlestick trading,

thanks guys
  • #71
  • Sep 21, 2009 9:12pm Sep 21, 2009 9:12pm
Quoting gregoryzelik
hey, guys great work what you're doing, ive been on backtesting and forward testing on my MT4 demo account for quite a while now, with major success, i would like to go live now, and was wondering what broker you would reccomend, sorry if this is the wrong thread, i am a student using daily candlestick trading,

thanks guys
I use fxcm standard platform. It has worked pretty well for me. Best thing about it is that when u want to withdrawal funds they go right back to ur card in 1-2 business days.
  • #72
  • Sep 22, 2009 12:22am Sep 22, 2009 12:22am
Hey is anyone here from or residing now in Dubai?
  • #73
  • Sep 22, 2009 10:14am Sep 22, 2009 10:14am
Quoting mfoste1
Hello alimo, My best friend just graduated from LSE last fall, he is now working on a CPE management program there now. Im actually going to be in London on Oct 1-4. Just a nice weekend trip and break from studies
Cool. Yeh LSE is one of the best universities in the UK, especially for finance. Have a good break in London. I'll be returning shortly after you!
  • #74
  • Sep 22, 2009 10:44am Sep 22, 2009 10:44am
Hi everyone! This is actually my first post. I've gone through numerous ff posts and have hid in the sidelines for a while, but now I think I've found a home
I'm trading the 4H price patterns and using fibs/candles to help me. As for me, my trades are predictable enough so that I experience little if no psychological problems. I only have to check how things are going every couple of hours.

Today I added 252 pips to my account w/ 24 pips risk. The pattern is going to the .50, .618 retrace ideally. I just left the trade w/ a handy profit since I have a bio test coming up.

Speaking of econ, I have the class today. I also love music and biology so despite choosing finance/pre-med, I also plan on minoring in music. I'll probably choose exactly what I want to do sophomore year. I'm over at UMass Amherst (USA).

If anyone wants to talk trading I do have skype (william.fan1)
  • #75
  • Edited 2:36pm Sep 22, 2009 1:01pm | Edited 2:36pm
Hey guys, right now price is becoming unpredictable with high risk entries. The levels that I am watching right now are 1.4770, 1.4755. I'll be looking to add longs those levels. However, if they would be broken then price will most likely move down to 1.4738. Further support can be found at 1.4650. As you guys can see from the chart, the price just kinda stalled at the midline in this ascending channel. If price returns to the bottom of this channel again I will be looking for longs at 1.4738 with stops 7-12 pips.


Just updated my chart 3:36 EST
Attached Image (click to enlarge)
Click to Enlarge Name: current euro.jpg Size: 114 KB
  • #76
  • Sep 23, 2009 1:18am Sep 23, 2009 1:18am
Quoting mfoste1
Hey is anyone here from or residing now in Dubai?
yep i stay in dubai
  • #77
  • Sep 23, 2009 9:11am Sep 23, 2009 9:11am
Hey guys, just an update: The Bullish GBP/USD pair has continued up to the 50% retrace. I doubt it will go further based on the high wave candle pattern. The following down candle confirms my suspicion. Also notice that previous supports now become resistances so that the pair is fighting the Sept 15 to 18th support line. Also note that these patterns tend to close at the 50% or 61.8% retraces so it would be a wise idea to exit now.

Hopefully my attachment shows up of the pattern
Attached Image (click to enlarge)
Click to Enlarge Name: butterfly sept 23.gif Size: 43 KB
  • #78
  • Sep 23, 2009 9:59am Sep 23, 2009 9:59am
This one also looks interesting, it's the h4 EUR/USD. The pair stalled at the 1.618 and it looks like it's going up. This is definitely not a pattern I would trade (it is not ideal, so this ones literally a 50-50 gamble), but it does have potential. It's gone up 3 pips. Ideally it'll go up to 1.4780 about 16 pips. Lol yes it is a totally useless trade but I just wanted to mention it. Oops, speak of the devil, while I was writing this it jumped up to the ideal retrace.... If only it weren't on the 1H frame...Scalping messes with my work schedule.

Off to English class
Attached Image (click to enlarge)
Click to Enlarge Name: butterfly3 sept 23.gif Size: 32 KB
  • #79
  • Edited 12:43pm Sep 23, 2009 11:31am | Edited 12:43pm
Hey guys, this is directed towards newbies just starting to trade real capital. DO NOT TRADE THIS RISK EVENT....ill repeat it one more time so it sinks in....DO NOT TRADE FOMC rate meeting. This move will be very volatile, most likely there will be 100pip, yes 100 pips stop hunting and all sorts of nasty tricks by banks. Wait till established trend settles in then I will make a safe entry. Ill put up a chart of my idea after the meeting. However, my bias is LONG. I strongly urge you to take my advice and do not trade.
  • #80
  • Sep 23, 2009 11:59am Sep 23, 2009 11:59am
Cannot say that I do not agree with you. However, I do not think we are in for such a mad-mans-scenario as you describe. Simply because the Fed can't and won't do much about the situation as it is by now (because of the course it choose to combat this crisis it now has to follow it through -> low rates for all). The rate will be kept the same but they will make a statement about how the economy has rebounded even though reality tells a different story.

Please do not take this as an encouragement to go for 'news' trading even though it seems a safe bet. You never know what to expect and what the market has priced in and what has not been priced in.

cheers

btw - gotta love this thread
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