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The College Trader

  • #341
  • Mar 29, 2010 3:09pm Mar 29, 2010 3:09pm
Yeah I would agree with you on your points. Just gotta get the cash. i am not too worried about the fear of losing money ( I think I am inherently born with not a lot of value for money) I know that sounds freakin crazy but I think i will be okay. I just wanna start. I have been profitable on demo for 4 months now. so. ya. kind of tedious. ready to go to the next level
  • #342
  • Mar 30, 2010 2:37pm Mar 30, 2010 2:37pm
http://www.forexfactory.com/showpost...&postcount=336

caught the shorts spot on.....are any of you guys in trades?
  • #343
  • Mar 30, 2010 3:45pm Mar 30, 2010 3:45pm
Hey, i was wondering if you had any advice on spotting trades. I have gotten good at finding s/r and trend lines and i have been reading the news for the past few weeks, but i just cant seem to spot trades in the moment.

So for example the eur/usd chat belowhttp://www.forexfactory.com/C:%5CUse...march%2030.gif

Edit - i guess the chart did not upload. but it looks pretty much the same as yours except a resistance line at 1.3455 and i just drew a small fib from the last swing high/swing low.

I just cant tell if the next trade would be to look for a long since this is 50% fib level (even though the resistance line is so close?), or do i wait to see if it is going to retest the resistance line and then look for a short (or maybe even a long). I have no idea what trend line the price is heading towards and i just feel lost.

Also, i have time to trade from like 6pm-11pm EST and should i be looking to find positions to hold overnight to then re-evaluate in the morning? or should i have more of a scalping attitude?
  • #344
  • Mar 30, 2010 3:50pm Mar 30, 2010 3:50pm
Hey guys I was wondering if any of you have attended a trading school before? I would like to go to one, if anyone has any info or advice please let me know.

Thanks in advance.
  • #345
  • Mar 30, 2010 4:06pm Mar 30, 2010 4:06pm
Quoting Scott_16
Hey, i was wondering if you had any advice on spotting trades. I have gotten good at finding s/r and trend lines and i have been reading the news for the past few weeks, but i just cant seem to spot trades in the moment. ?
repost that chart again as a jpg....

look at my previous charts i posted here....ill give you a hint, im not looking for longs, think short.

not much volume is traded during the asian session, so I generally dont open a position during that time....you have to wait till the banks are in the market to determine price action. Most volume is traded between 5am-11am est.
  • #346
  • Mar 30, 2010 4:14pm Mar 30, 2010 4:14pm
http://www.forexfactory.com/C:%5CUse...march%2030.gif

And also what would u recommend i trade? I am at school from 7:30am and don't usually get back until 6pm
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Click to Enlarge Name: eurusd march 30.gif Size: 22 KB
  • #347
  • Mar 30, 2010 4:14pm Mar 30, 2010 4:14pm
Quoting Proda
Hey guys I was wondering if any of you have attended a trading school before? I would like to go to one, if anyone has any info or advice please let me know.

Thanks in advance.

never attended one....I taught myself. I guess if youre brand new to the game, it may help, yet again i dunno. It all depends on the person i guess, how fast you can adapt and learn new concepts. They can be quite costly as well in both time and money, your most valuable assets.
  • #348
  • Mar 30, 2010 4:25pm Mar 30, 2010 4:25pm
Quoting Scott_16
http://www.forexfactory.com/C:%5CUse...march%2030.gif

And also what would u recommend i trade? I am at school from 7:30am and don't usually get back until 6pm
wake up earlier, so that you can do 30 min of analysis before you start your day. Bring ur laptop with you, thats what i do.....go to comp lab during ur breaks, do some analysis....try starting off on the daily and 4h, look for tls, patterns and s&r. As I stated earlier you have to look at every tf to make a proper trade. Only trade demo, DO NOT TRADE REAL CAPITAL.
  • #349
  • Mar 30, 2010 4:29pm Mar 30, 2010 4:29pm
yeah. Umm to answer some questions Foste1. had a badass week and picked up another couple of great trades on the eurcad and euraud.

overall had a great month. feeling very confident and just need the cash to go live.


and I personally don't even care about times really. I place my trades during the day (us - Eur Session) but I personally don't think it really matters. For me at least. It OBVIOUSLY matters if your scalping...


while this may be painful for you to pick up because the lower TF's are just so damn exciting. Don't go anywhere Below a 1hr timeframe. I Use 1 hr TF's to pick up entry points and 4 hr and daily bars to determine actual trades and higher TF's for overall trend. While btw all of those components you will develop individually as you embark on your trading adventure. took me a year and a half and im still JUST NOW becoming profitable (past 4 months)

but the good thing is is we are young!!! and I believe this is something EXCELLENT to learn and pick up because in a down economy you can trade your way thru school and if you can't find a job you have an income.

don't do a school man... read all of baby pips and then look up a couple of trading books and demo demo demo demo stay away from lower TF's

just my 2 cents
  • #350
  • Mar 31, 2010 12:07pm Mar 31, 2010 12:07pm
Quoting honest
well it matters, because why would you deliberately expose yourself to potential initial losses. isint it better to enter and immediately enjoy profit? plus if you enter before some news releases you may suffer

Im sorry I was under the impression we were dealing with live money where those would be "built-in" factors that traders would take into account.

Obviously I am not recommending trading news. yes all traders should take a quick glance at news events and be wary of your timing and liquidity.

foste1 has a point when he talks about the big money entering the market and watching PA to determine entry points and get an overall feel of the market.

and from my experience. and I don't know what yours is.... Very rarely will I enter a trade and "immediately" enjoy profit. it's a process that takes rigid structure and well places stops and targets in order to take your emotion out of your trading, I've had a lot of trades go against me before they go my way. I am not trying to predict the market. I am just trying to improve my odds.

again! sorry for my potentially misleading response above. All traders should use the upmost scrutiny in deciding trades and only take those high-probability trades with no sign of news or events and hopefully larger TF with using lowers for entry.


on another note! foste1 how are you handling your EUR shorts with the Greece news and some other events that came out and kind of tossed projections around. I got stopped out =( kind of a bummer!
  • #351
  • Mar 31, 2010 12:39pm Mar 31, 2010 12:39pm
Quoting Br_pippin
Im sorry I was under the impression we were dealing with live money where those would be "built-in" factors that traders would take into account.

Obviously I am not recommending trading news. yes all traders should take a quick glance at news events and be wary of your timing and liquidity.

foste1 has a point when he talks about the big money entering the market and watching PA to determine entry points and get an overall feel of the market.

and from my experience. and I don't know what yours is.... Very rarely will I enter a trade and...


I took some of the position off the table around 34 to lock in profit. Still holding the rest in profit, my stops are above 3550 for this trade....nothing changed, same strategy as before.

Went short small position gu @ 5171 stops just above 5250. First target 5074, then ill add on a bounce.
  • #352
  • Mar 31, 2010 2:27pm Mar 31, 2010 2:27pm
Feeling kinda iffy right now... think im gonna sit out the next two days and chart and try and come up with some kind of an opinion lol.

Had a great month last month. time to keep it up!

yeah I don't know about the GU short. I might take the short if we hit R2 weekly resistance. im expecting it to go up to about 5250 or 5300 and then a continuation of the overall downward trend. We will see though. Those are my thoughts for what I am seeing on my charts.
  • #353
  • Mar 31, 2010 3:30pm Mar 31, 2010 3:30pm
Make any sense? Any advice? I am short 4 mini lots at .91547...I saw double high lower close (or i think it is ) anyways is there anything i should look for after i see something like that? The chart i uploaded is a 30 min.
Attached Image (click to enlarge)
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  • #354
  • Mar 31, 2010 5:10pm Mar 31, 2010 5:10pm
Quoting Proda
Make any sense? Any advice? I am short 4 mini lots at .91547...I saw double high lower close (or i think it is ) anyways is there anything i should look for after i see something like that? The chart i uploaded is a 30 min.
i wish i could tell you man....this trade is just a scalp i presume? whats ur stop loss? Im not even attempting to short this pair till 9287....Anything could happen with this pair, tough to determine right now, im only trading eu and gu atm. If i had to say, I think longs are the best play with au right now, look at higher tfs daily, 4h....
  • #355
  • Mar 31, 2010 5:22pm Mar 31, 2010 5:22pm
I just got stopped out at 75 fcuk meim an idiot
  • #356
  • Mar 31, 2010 5:26pm Mar 31, 2010 5:26pm
Quoting Proda
Make any sense? Any advice? I am short 4 mini lots at .91547...I saw double high lower close (or i think it is ) anyways is there anything i should look for after i see something like that? The chart i uploaded is a 30 min.

just at a quick glance without a lot of trendlines according to MY trading setups and rules. I would be taking a short at probably. 91340 with a stoploss at probably 5-10 pips past the preceding high. so 92200 with a target of 90722

hope it makes sense w.o charts I don't have a lot of time!

your logic isn't bad but if you would look at the past 2 days of trading you would see mix results (4hr charts) and therefore I would be very careful. and not put a lot down on a trade for this. Not very high probability!
  • #357
  • Mar 31, 2010 5:39pm Mar 31, 2010 5:39pm
Went ahead and thought about it and placed shorts GU at 1.52560 and 1.53500 stops just about weekly R3 resistances. Havent worked out targets but might let this one ride and start the month out well.
  • #358
  • Mar 31, 2010 5:45pm Mar 31, 2010 5:45pm
Quoting Br_pippin
Went ahead and thought about it and placed shorts GU at 1.52560 and 1.53500 stops just about weekly R3 resistances. Havent worked out targets but might let this one ride and start the month out well.
5256 might be a good place to short....my stops are just above there....my eu shorts are getting close to stop
  • #359
  • Mar 31, 2010 5:58pm Mar 31, 2010 5:58pm
Quoting mfoste1
5256 might be a good place to short....my stops are just above there....my eu shorts are getting close to stop
Every battle is won before it is fought! haha

not that it has any relevance?

no worries man I already got hit on a short on the EU so kind of a bummer =(
  • #360
  • Mar 31, 2010 6:09pm Mar 31, 2010 6:09pm
Quoting Br_pippin
Every battle is won before it is fought! haha

not that it has any relevance?

no worries man I already got hit on a short on the EU so kind of a bummer =(
lol its sun tzu- art of war.....if you havent read it, read it. That book has so much ingenuity its rediculous. If you apply its concepts correctly it will definetly make your trading better, guarantee it! Euro just got dumped....
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