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14 Year Old Forex Trader's Lessons

  • #101
  • Sep 16, 2011 8:54am Sep 16, 2011 8:54am
Ive deleted it because Ive realised It should of been private, sorry kid. but someone needed to tell you. sorry it was me.
  • #102
  • Sep 16, 2011 9:18am Sep 16, 2011 9:18am
Quoting jwhitby
Ive deleted it because Ive realised It should of been private, sorry kid. but someone needed to tell you. sorry it was me.
You're the best.
Don't just beat the markets, leave bruises.
  • #103
  • Sep 16, 2011 9:22am Sep 16, 2011 9:22am
Quoting deankenny21
I was intrigued until he posted a chart, wow im tripping out just looking at that chart, indicator frenzy. Theres only one route for ppl with charts like that, and im not going to say it out loud as all the profitable traders will know the answer. That is all
^^ what he said
  • #104
  • Edited 9:41am Sep 16, 2011 9:27am | Edited 9:41am
Quoting andys0506
^^ what he said
i used to have a chart that looked like this 14 yr olds, and i lost about 90% of the time.

Then i discovered James 16, and sam seiden and price action trading, i mixed all 3 together, cleared my charts of all indicators, so all i had was PRICE and PRICE ONLY now i win 80% of the time.

By the time someones mac d or moving averages has crossed for an entry or whatever you do, im already in way before the indy fans at the turn using supply and demand. That is all again

its one thing trading breaks through support and resistence but its another when you know its going to break before hand
  • #105
  • Sep 16, 2011 9:53am Sep 16, 2011 9:53am
Quoting bumapatria
You're stepping over the line. I have my goals in life. You don't set them for me. I am only homeschooled for this year of my life. I have something with cloggie, he's like a mentor to me, almost like a second father. Forex does not owe me anything in life. Forex is a business. People do business. Im not trying to go too quick. Im taking this a step at a time. Don't ever tell me to think i talk smart for no reason. Im sorry if you're not in a top 100 university, but that is your fault not mine. Don't compare yourself to me. I have my goals, i know...
.....don't mess with the kid.well written young man
  • #106
  • Sep 16, 2011 9:58am Sep 16, 2011 9:58am
explicable grammar has nothing to do with forex.
  • #107
  • Sep 16, 2011 10:08am Sep 16, 2011 10:08am
Quoting jwhitby
explicable grammar has nothing to do with forex.
correct
  • #108
  • Sep 16, 2011 10:59am Sep 16, 2011 10:59am
Quoting deankenny21
i used to have a chart that looked like this 14 yr olds, and i lost about 90% of the time.

Then i discovered James 16, and sam seiden and price action trading, i mixed all 3 together, cleared my charts of all indicators, so all i had was PRICE and PRICE ONLY now i win 80% of the time.

By the time someones mac d or moving averages has crossed for an entry or whatever you do, im already in way before the indy fans at the turn using supply and demand. That is all again

its one thing trading breaks through support and resistence but its another...
Okay, ill clear up my chart. Ill dispose of the heiken, MA. But i truly need the pivot point and trendline.
Have I got something on my face, SOLDIER?
  • #109
  • Sep 16, 2011 11:02am Sep 16, 2011 11:02am
Quoting jwhitby
explicable grammar has nothing to do with forex.
I honestly don't know what on earth is wrong with you mate. I know i am young, and its usually uncommon for young people to advice senior people. Human being to human being, you need to change your attitude. You're an adult, you'll figure out what you'll need to change. After this post, we forget about this, in here we are traders. Keep it that way.
Have I got something on my face, SOLDIER?
  • #110
  • Sep 16, 2011 11:03am Sep 16, 2011 11:03am
Quoting bumapatria
Okay, ill clear up my chart. Ill dispose of the heiken, MA. But i truly need the pivot point and trendline.
trendlines are fine, its not an indicator, i use trendlines all the time. Pivot points i also used to use alot of the time with JAMES16 techniques and proved to be good enough.

Im not being nasty, im just talking about another youngish person at 26 years old in this business, been through the mistakes, been down the indy path, been down the EA path, and down the buy at the green dot and sell at the red dot path. Luckily i didnt lose too much doing all this, it has cost me probably $1000 in total learning all these mistakes, my account was at $104 beginning of this year.

So i thrown everything away started again, with james 16, then later introduced supply/demand and price action, and just recently to put the icing on the cake i discovered a user on here called ROCKY who really has finessed how i look at the markets. now my account sits at $1105

not bad for a live account
  • #111
  • Sep 16, 2011 11:04am Sep 16, 2011 11:04am
How's this for a chart?

I really hope i can determine price action, and even more pinpoint entry exit strategies this way. Thanks for the tips about the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: clean chart..gif Size: 32 KB
Have I got something on my face, SOLDIER?
  • #112
  • Sep 16, 2011 11:08am Sep 16, 2011 11:08am
Quoting bumapatria
How's this for a chart?

I really hope i can determine price action, and even more pinpoint entry exit strategies this way. Thanks for the tips about the chart.
no problem dude. Heres an example of my chart on a trade i entered last night. This trade is now a free trade , stop at BE and sitting at 65 pips in the profit.

http://i51.tinypic.com/2qk1njm.jpg
  • #113
  • Sep 16, 2011 11:08am Sep 16, 2011 11:08am
Quoting deankenny21
trendlines are fine, its not an indicator, i use trendlines all the time. Pivot points i also used to use alot of the time with JAMES16 techniques and proved to be good enough.

Im not being nasty, im just talking about another youngish person at 26 years old in this business, been through the mistakes, been down the indy path, been down the EA path, and down the buy at the green dot and sell at the red dot path. Luckily i didnt lose too much doing all this, it has cost me probably $1000 in total learning all these mistakes, my account was at $104...
Hey man, thanks for the story. EA's are definitely for the dumb. If i was that dumb, i wouldn't care to learn FX, ill just go and buy megadroid or fap turbo for heaven's sake. How can people learn by doing this? Haha, green buy, red sell? I don't do that. Those indies determine possible support and resistance levels. But judging by the facts shown, i deleted most of them, and see my progress through.
Have I got something on my face, SOLDIER?
  • #114
  • Sep 16, 2011 11:10am Sep 16, 2011 11:10am
Quoting deankenny21
no problem dude. Heres an example of my chart on a trade i entered last night. This trade is now a free trade , stop at BE and sitting at 65 pips in the profit.

http://i51.tinypic.com/2qk1njm.jpg
Well done Mr. Ken! I opened a trade based on resistance and support style on EUR/AUD, and looked at action on EU, and using corellation as a base, and i am happy now. 40 pips profit.
Have I got something on my face, SOLDIER?
  • #115
  • Sep 16, 2011 11:14am Sep 16, 2011 11:14am
Quoting bumapatria
Well done Mr. Ken! I opened a trade based on resistance and support style on EUR/AUD, and looked at action on EU, and using corellation as a base, and i am happy now. 40 pips profit.
good job. Ive never looked into correlation, i know some people like it, but something ive not really studied, as each chart will have its base rules and others will follow creating same points all over.

Heres a thread i highly suggest going through, this really opened my eyes, all credits to ROCKY for this one.

http://www.forexfactory.com/showthread.php?t=309766
  • #116
  • Sep 16, 2011 11:23am Sep 16, 2011 11:23am
I'm glad to see more people realising that too many indicators actually disturb trading. Keep up the good work guys and keep this thread drama free.
  • #117
  • Sep 16, 2011 11:32am Sep 16, 2011 11:32am
Hey,

I am 16 at the moment (had my birthday on the 13th of this month) and have been trading live since May this year and demo for a year before that so I also started at 14 and I definitely feel that this is an advantage to us.

I (and probably you) want to work as a trader when I'm older and I am of the opinion that Experience is worth more than good grades, now don't get me wrong education is very important, but say I go for a prop trading job at Goldman when I'm 21 (with 7 years trading experience and a mediocre economics degree). Whereas my close friend goes to London school of economics and attains a really high and respectably degree and also applies for the same job. I believe that without a doubt (as long as I can prove I have a good depth of market knowledge) that I will get the job as a trader.

Now in my personal situation, I have good contacts through my dad at many major banks and trading firms in london and currently attend one of the best independent schools in the south of England and feel I can along with having 7 years of experience get a good, firm degree. Because of this I feel starting at a young age can almost guarantee me a job when I'm older (am emphasizing almost).

Anyway It's nice to know there are others out there who started a micro account with chump change and since may I've turned $301.08 to ~$2200.

Jeremy.
  • #118
  • Sep 16, 2011 11:34am Sep 16, 2011 11:34am
Hi everyone, i am having a hard time understanding supply and demand. I heard on websites i searched and rocky's thread, that it is very different from support and resistance. What i grasped is that when there is more demand of a currency, price movves up. When there is less, it goes against. I still can't grasp how this is connected to Forex, and can be used to our trading skills, and make us even more proficient as traders.

All help is appreciated in advance,

Thanks
Have I got something on my face, SOLDIER?
  • #119
  • Sep 16, 2011 11:36am Sep 16, 2011 11:36am
Quoting JeremyWS
Hey,

I am 16 at the moment (had my birthday on the 13th of this month) and have been trading live since May this year and demo for a year before that so I also started at 14 and I definitely feel that this is an advantage to us.

I (and probably you) want to work as a trader when I'm older and I am of the opinion that Experience is worth more than good grades, now don't get me wrong education is very important, but say I go for a prop trading job at Goldman when I'm 21 (with 7 years trading experience and a mediocre economics degree). Whereas my...
Words spoken like an expert. Excellent returns, i hope you can stay consistent with the trading, and good luck to you.
Have I got something on my face, SOLDIER?
  • #120
  • Sep 16, 2011 11:37am Sep 16, 2011 11:37am
Quoting bumapatria
Hi everyone, i am having a hard time understanding supply and demand. I heard on websites i searched and rocky's thread, that it is very different from support and resistance. What i grasped is that when there is more demand of a currency, price movves up. When there is less, it goes against. I still can't grasp how this is connected to Forex, and can be used to our trading skills, and make us even more proficient as traders.

All help is appreciated in advance,

Thanks
when price stops for a while on any chart, then you know its even between bears and bulls, then all of a sudden the price surges away like a train, now you know at this level that theres an imbalance and lots of orders sitting at that level.

Take my eurgbp above, the zone i marked shown price go up 2 green candles stop a little bit then a huge surge down like a freight train, only 2 things in this world can do that banks and institutions, so know i knew at this level there are still going to be alot of SELL orders because it was such a violent move down.

match this with some trendlines and a fib levels which everyday retail traders use, then u got a sure thing, not only bank orders also alot of retail traders will be trending off the trendline and fib retracement.
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