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14 Year Old Forex Trader's Lessons

  • #121
  • Sep 16, 2011 11:39am Sep 16, 2011 11:39am
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
You think things too hard or maybe it's just too easy for me. Here is a video that may help you : (click here kids!)
  • #122
  • Sep 16, 2011 11:39am Sep 16, 2011 11:39am
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
I love trading with Supply and demand areas for TP's and SL's etc.

I recommend you read through Phanti's rangebound strategy thread it's where I learn't about it

http://www.forexfactory.com/showthread.php?t=286900

He starts using pivots and standard S/R but throughout the development of the thread it turns to supply and demand.
  • #123
  • Sep 16, 2011 11:39am Sep 16, 2011 11:39am
Quoting Motion
jwhitby and bumapatria, I'd suggest you both re-edit your last posts by wiping everything. This thread should be a good one for the newbies and I'm sure your last posts is the opposite. It portrays pessimism and arrogance. jwhitby, try sending him that as a PM next time. Don't wash his dirty linens in public. Bumapatria, there are better ways to resolve issues than destroy your 1st thread with your hands. I'm in no position to judge, but I'd like to still have this thread on my subscription list.
thanks motion. I deleted my post. It should've been one to one.
Have I got something on my face, SOLDIER?
  • #124
  • Sep 16, 2011 11:42am Sep 16, 2011 11:42am
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...
Job in a bank is good experience but if your a good trader you want to get out of there soon. Like they say, most want to get in, few want to get out.
  • #125
  • Sep 16, 2011 11:43am Sep 16, 2011 11:43am
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...
Well done Jeremy,fantastic results.I dare say there is a vast amount of traders on here who would like your results...........me included
  • #126
  • Sep 16, 2011 11:47am Sep 16, 2011 11:47am
man, im still not getting anything out of these threads, and webbies. I need one-to-one explanation. How can one find supply and demand levels in forex?
Have I got something on my face, SOLDIER?
  • #127
  • Sep 16, 2011 11:50am Sep 16, 2011 11:50am
Quoting bumapatria
man, im still not getting anything out of these threads, and webbies. I need one-to-one explanation. How can one find supply and demand levels in forex?
If this video i sent is not helping then trading is not for you, sorry boy
I think you're too lazy to look into things.
  • #128
  • Sep 16, 2011 11:51am Sep 16, 2011 11:51am
Quoting GoldMan.
Job in a bank is good experience but if your a good trader you want to get out of there soon. Like they say, most want to get in, few want to get out.
Aside from experience the average salary in the city is about $400,000 so I wouldn't be complaining there (that's without huge bonuses) however I have spoken to some people that the pressure and strain of sometimes 100hr/week is just to much to handle so ideally for me at least.

for me Ideally I'd work for a bank for 5-7 years build up by saving 750k-1mil and trade my own account and a mere 10% can sustain me.

Anyway cheers for the advice,

Jeremy
  • #129
  • Sep 16, 2011 11:53am Sep 16, 2011 11:53am
Quoting GoldMan.
If this video i sent is not helping then trading is not for you, sorry boy
I think you're too lazy to look into things.
Sorry goldman, i didnt see the post you made lol. I was searching for it...


Watching video now..
Have I got something on my face, SOLDIER?
  • #130
  • Sep 16, 2011 11:56am Sep 16, 2011 11:56am
Quoting bumapatria
man, im still not getting anything out of these threads, and webbies. I need one-to-one explanation. How can one find supply and demand levels in forex?
Personally here is how I would look at things,

Most supply or demand areas include large wicks or fast rebound areas, I try to note down areas which at the time (when watching how Price action is acting) are showing those kind of early signs that would probably form into S/D areas.

You've got to remember that S/D areas aren't as accurate as Support/Resistance levels where it can go within 0.1 of a pip before correcting, they are more like areas where traders confidence and sentiment shifts from bullish to bearish or vice versa and that's why some stalling may occur as people make up there minds.

Overall I just takes time to see and experience how Price reacts in those areas and quickly enough you'll pick it up!

Jeremy
  • #131
  • Sep 16, 2011 12:05pm Sep 16, 2011 12:05pm
Quoting GoldMan.
If this video i sent is not helping then trading is not for you, sorry boy
I think you're too lazy to look into things.
Im watching 10 mins of video and i think this is going to extremely help me in trading. Thanks gold,

Sorry i missed your post on video,

I jusst came to check everything

Have I got something on my face, SOLDIER?
  • #132
  • Sep 16, 2011 12:06pm Sep 16, 2011 12:06pm
Quoting bumapatria
Sorry goldman, i didnt see the post you made lol. I was searching for it...


Watching video now..
I posted this chart earlier but seems you were not able to read it correctly. I painted it red and green so you could spot SD better. It reflects current situation.
Attached Image (click to enlarge)
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  • #133
  • Sep 16, 2011 12:06pm Sep 16, 2011 12:06pm
Quoting bumapatria
Im watching 10 mins of video and i think this is going to extremely help me in trading. Thanks gold,

Sorry i missed your post on video,

I jusst came to check everything

hehe i did mention to google Sam Seiden, but the link would have been better, well now you found them get ready from really BIG EYE OPENERS!!!
  • #134
  • Sep 16, 2011 12:11pm Sep 16, 2011 12:11pm
Quoting GoldMan.
I posted this chart earlier but seems you were not able to read it correctly. I painted it red and green so you could spot SD better. It reflects current situation.
IT makes so mucchh sense now, after currently watching the video. Makes so much sense. Now i know why its not support and resistance.

BEautiful, beautiful, beautiful.

this could clear all the mysteries of the market with a beautiful concept.
Have I got something on my face, SOLDIER?
  • #135
  • Sep 16, 2011 12:15pm Sep 16, 2011 12:15pm
Quoting bumapatria
IT makes so mucchh sense now, after currently watching the video. Makes so much sense. Now i know why its not support and resistance.

BEautiful, beautiful, beautiful.

this could clear all the mysteries of the market with a beautiful concept.
Should have sent it to you earlier, i'm glad that your starting to understand.
  • #136
  • Sep 16, 2011 12:16pm Sep 16, 2011 12:16pm
This is price action. Here's my favorite sentence in video that Sam says that most 'less-smart' traders: "Hey guys, we wait until a green candle to buy, and sell at red. Don't sell there, (pa supply exceeds demand) wait until a red candle..."

Thank you so much goldman, this opened my eyes to the world of forex, and that charts say more than what they are.

Thanks man, and thanks jeremy, that gave me an idea before i watched the video.

Thanks everyone.
Have I got something on my face, SOLDIER?
  • #137
  • Sep 16, 2011 12:19pm Sep 16, 2011 12:19pm
Quoting GoldMan.
Should have sent it to you earlier, i'm glad that your starting to understand.
What is also useful is how you can know where novice traders, and professionals are in the market. Wow..

Very few, would share this info. Thanks sir,

Goldman, personally, i think you and other pros are rich. How did you come upon this type of knowledge?
Have I got something on my face, SOLDIER?
  • #138
  • Sep 16, 2011 12:24pm Sep 16, 2011 12:24pm
Quoting bumapatria
This is price action. Here's my favorite sentence in video that Sam says that most 'less-smart' traders: "Hey guys, we wait until a green candle to buy, and sell at red. Don't sell there, (pa supply exceeds demand) wait until a red candle..."

Thank you so much goldman, this opened my eyes to the world of forex, and that charts say more than what they are.

Thanks man, and thanks jeremy, that gave me an idea before i watched the video.

Thanks everyone.
Quoting bumapatria
What is also useful is how you can know where novice traders, and professionals are in the market. Wow..

Goldman, personally, i think you and other pros are rich. How did you come upon this type of knowledge?
I think now you understand why i said that you should remove your indicators, i'm proud of you, now you will start to move in right direction.
If you have more money that you can spend then you don't really care about money, life is short, don't need to waste too much time in front of the screen., better enjoy some women and sunshine

Good luck.
  • #139
  • Sep 16, 2011 12:26pm Sep 16, 2011 12:26pm
I can feel his eyes opening more and more as this thread goes on
  • #140
  • Sep 16, 2011 12:26pm Sep 16, 2011 12:26pm
I want to see if im doing this right.

Please post replies about this.
Attached Image (click to enlarge)
Click to Enlarge Name: sd.gif Size: 34 KB
Have I got something on my face, SOLDIER?
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