14 Year Old Forex Trader's Lessons | Forex Factory

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14 Year Old Forex Trader's Lessons

  • #1
  • First Post: Edited Jun 24, 2017 4:11pm Sep 14, 2011 4:56am | Edited Jun 24, 2017 4:11pm
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Have I got something on my face, SOLDIER?
  • #2
  • Sep 14, 2011 5:06am Sep 14, 2011 5:06am
go for it young one, i thought you had to be 18 to trade, anyway happy trading
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3
  • Sep 14, 2011 5:14am Sep 14, 2011 5:14am
Hi friend, i diddnt finish the story lol. Yes you have to be 18 to have an account. But my dad was willing to give me risk capital and trade under his name. To me he's the best dad. To be willing to risk $400 for a risky business is all a 'who cares' its my son, i love him deal.

I got stopped out today selling EUR/USD at a stupid price which happened to be PP S1, which was holding pretty well for couple of days. This was already in my bad days.

My live account dwindled from a nice $400, to a mere measly $1.96. This thread is to explain how important discipline, emotional intelligence, and consistency is. I won big because i was able to be discipline once in a lifetime, and i wanna hit that road again. There's always a detour to a lost road right? Going back on demo to repair mistakes, become a proficient trader. Better than the one so far.
Have I got something on my face, SOLDIER?
  • #4
  • Sep 14, 2011 5:26am Sep 14, 2011 5:26am
Quoting bumapatria
Hi friend, i diddnt finish the story lol. Yes you have to be 18 to have an account. But my dad was willing to give me risk capital and trade under his name. To me he's the best dad. To be willing to risk $400 for a risky business is all a 'who cares' its my son, i love him deal.

I got stopped out today selling EUR/USD at a stupid price which happened to be PP S1, which was holding pretty well for couple of days. This was already in my bad days.

My live account dwindled from a nice $400, to a mere measly $1.96. This thread is to explain how important...
lesson learn young buck
  • #5
  • Sep 14, 2011 5:28am Sep 14, 2011 5:28am
you sound like an old head on young shoulders which is good, dont get carried away with indicators and if you get some crazy idea on trading check it out. I trade 2 ways one is wait for an entry then hopefully get long trade and secondly which is my best way just go off time and do things what they tell you not to do lol, and i trade for a living ( i am a body guard and i absolutely love doing it) and if i was a billionaire i'd still do it. and remember listen to dad (he's your bank)lol. happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #6
  • Sep 14, 2011 5:38am Sep 14, 2011 5:38am
Quoting billytt
you sound like an old head on young shoulders which is good, dont get carried away with indicators and if you get some crazy idea on trading check it out. I trade 2 ways one is wait for an entry then hopefully get long trade and secondly which is my best way just go off time and do things what they tell you not to do lol, and i trade for a living ( i am a body guard and i absolutely love doing it) and if i was a billionaire i'd still do it. and remember listen to dad (he's your bank)lol. happy trading happy days
im not much of a "lets fancy up my chart too make it look beeautiful and cool so that i can make some pips on it".

I use basic pivot point, fibo knowledge, S/R (important) and a moving average crossovers. and of couse, FA.
Have I got something on my face, SOLDIER?
  • #7
  • Sep 14, 2011 5:52am Sep 14, 2011 5:52am
stick to demo untill u are 18
Trade responsiblypatience is the key/Swing trader
  • #8
  • Sep 14, 2011 5:59am Sep 14, 2011 5:59am
Quoting Incrediblle
stick to demo untill u are 18
there been a few kids that made a lot of money in the stock market, i say once he built a good system go for it.
  • #9
  • Sep 14, 2011 6:05am Sep 14, 2011 6:05am
nah, wait until he's 38 at least lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #10
  • Sep 14, 2011 6:09am Sep 14, 2011 6:09am
Quoting billytt
nah, wait until he's 38 at least lol
it might take him till he's 38 before he build a wining system
  • #11
  • Sep 14, 2011 6:12am Sep 14, 2011 6:12am
Your brain is young and the perfect age to learn everything, learning is easier when younger. Good luck dude
  • #12
  • Sep 14, 2011 6:14am Sep 14, 2011 6:14am
i hope the young guy remembers us when he hits it big time lol, happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13
  • Sep 14, 2011 7:27am Sep 14, 2011 7:27am
No expert here but this is a great thread that will get you on the path..

http://www.forexfactory.com/showthread.php?t=299285
  • #14
  • Sep 14, 2011 10:39am Sep 14, 2011 10:39am
Success is not necessarily linear with time. There are young folks who manage to start and run successful companies after ended bachelor-degree while another man can not even after 10 years of practice, trade profitable.

On the other side, I think its a good thing when someone with a high level of passion starts out as early as possible with their skill/profession (of their talent).

Good luck
Measure twice, cut once
  • #15
  • Sep 14, 2011 10:53am Sep 14, 2011 10:53am
Quoting billytt
i hope the young guy remembers us when he hits it big time lol, happy trading happy days
well done,the only little advice is take your time to learn the forex journey but go for it.
  • #16
  • Sep 14, 2011 12:23pm Sep 14, 2011 12:23pm
Quoting bumapatria
Hi friend, i diddnt finish the story lol. Yes you have to be 18 to have an account. But my dad was willing to give me risk capital and trade under his name. To me he's the best dad. To be willing to risk $400 for a risky business is all a 'who cares' its my son, i love him deal.

.
Yup, you got the best dad in the world. Mine would have never done this for me, even if I was the best trader in the world
  • #17
  • Sep 14, 2011 4:30pm Sep 14, 2011 4:30pm
Common now, quitting is the last thing you wanna do. There's nothing like loosing all you have in the world for teaching you what not to do, and when you know what not to do in order not to loose money, you begin to learn what to do in order to win. -Jesse Livermore.

It's funny how I was absent on the forum all day but still came back to search for your posts. (Your posts keeps me from boredom) I see potential in you bumapatria. Forget age, forget experience. Trading is not how long, but how well.

1. DO NOT QUIT! Staying away from the market for an extended period will make you loose proficiency on the markets.
2. Do not go back to demo trading. It will never let you tame your emotions. The brain treats real money and fake money in very different ways. Brokers introduced demo trading so that new clients can get acquainted with their platform without risking real money.
3. Get some fresh capital, get a broker that offers micro lots. I think there are some decent ones out there.
4. Start all over, pick a currency pair, just one. Take your time to study its behavior and trade it.
5. Log on to FF and ask the right questions. Don't bother about what others are doing, just ask your own questions, get your answers, and make your own decisions.

I started trading when I was in final year. Used to write robots for clients and fell in love with FX. I blew 2 good accounts then(blew the second one the day Michael Jackson was buried). But today, I belong to the team that blows other traders accounts.

Cheer up! There's a whole lot more money for you to make dear.
Don't just beat the markets, leave bruises.
  • #18
  • Sep 14, 2011 5:09pm Sep 14, 2011 5:09pm
Quoting Motion
Common now, quitting is the last thing you wanna do. There's nothing like loosing all you have in the world for teaching you what not to do, and when you know what not to do in order not to loose money, you begin to learn what to do in order to win. -Jesse Livermore.

It's funny how I was absent on the forum all day but still came back to search for your posts. (Your posts keeps me from boredom) I see potential in you bumapatria. Forget age, forget experience. Trading is not how long, but how well.

1. DO NOT QUIT! Staying away from the market...
Thank you for the optimism, i know that the mind percieves fake money and real money at different levels, and is on opposite ends of the string. I need to rebuild my whole optimism, my brain itself has taken quite a hit, not only from this but personal matters. I need some time to understand what happened, and how to avoid it from happening again. I understand how quitting is how most traders fail at this business, because once you fail, you have a chance to get back up, or stay down.

This time, i'll get back up, step by step.
Have I got something on my face, SOLDIER?
  • #19
  • Sep 14, 2011 5:12pm Sep 14, 2011 5:12pm
I longed USD/JPY at 76.50, looking for it to reach resistance of the daily pivot at least at 76.76.

Its amazing how i fell in love with support and resistance and fibos and pivot points. Denying my love for it, and ignoring it cost me some hard-eearned pips, and cash.
Have I got something on my face, SOLDIER?
  • #20
  • Sep 14, 2011 5:24pm Sep 14, 2011 5:24pm
Quoting PoundTrader
it might take him till he's 38 before he build a wining system
stock market i'm not too interested in. involves business knowledge, knowledge of company and returns are nothing compared to forex. well, even though bigger reward equals bigger risk, im sticking to forex. It would be a waste to become a stock trader, after all the knowledge past present, and future i learnt or will learn as a FOREX trader.
Have I got something on my face, SOLDIER?
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