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14 Year Old Forex Trader's Lessons

  • #301
  • Sep 22, 2011 11:15am Sep 22, 2011 11:15am
the beauty... its a usd/cad chart, but looks more like a gumball can

this was my old bullshit system i could barely make sense of. there was a bollinger bands, non lag moving average of 55, non lagzigzag, zigzag nrp, some lame support resistance, mmr a indi window that has rsi, stochastic, and some shit blah.

hhaaaha, red want me to go back like this?


im good man, gimme some trust here.
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Have I got something on my face, SOLDIER?
  • #302
  • Sep 22, 2011 11:17am Sep 22, 2011 11:17am
http://forex.gftforex.com/public/blog/165373

ichimoku formulas.

learning them right now..
Have I got something on my face, SOLDIER?
  • #303
  • Sep 22, 2011 11:22am Sep 22, 2011 11:22am
here's the brief on the formulas.
What makes up Ichimoku ?
Ichimoku is make up of 5 indicators.

 

  1. Tenkan sen
  2. Kijun sen
  3. Chikou span
  4. Senkou Span A
  5. Senkou Span B

Tenkan sen (a.k.a ‘turning line’) or the short ‘moving average’
Unlike typical simple moving average, where the day’s closing price is taken and calculated, Tenkan sen is calculated as (HIGHEST HIGH + LOWEST LOW)/2 for the past 9 periods
The angle of the Tenkan sen can be used to suggest the strength of the momentum. If it is a steep line, we can say that the underlying has a change in momentum and is very strong. Look at Palm’s chart below. See how Tenkan sen change when Palm Pre is announced.
Kijun sen (a.k.a standard line’) or the higher timeframe ‘moving average’
Kijun sen is calculated using (HIGHEST HIGH + LOWEST LOW)/2 for the past 26 periods.
This is the longer timeframe line and is less sensitive to current price changes. However, it is a key indicator for major change in trends.
Chikou Span (the “lagging line”)
This is shown on the chart as a lagging line behind the price. In the chart below, it is the green line and it is calculated as CURRENT CLOSING PRICE time-shifted backwards (into the past) 26 periods.
Chikou Span is one of the unique feature of Ichimoku. And this is the line that I used to determine the support and resistant levels.
Why is Chikou Span shifted 26 periods back? The answer becomes clear once you understand that a change in trend is a relative state. For example, if the trend is up and it continues to goes up, then there is not change in trend. By shifting it bacwards 26 period, we can compare the current price level to how it looks like 26 periods ago.
With a glance of the position of the current price level and Chikou Span, we can quickly identify if the trend is changing and is it going to break through any possible support or resistant levels.
Some rules:

 

  1. If current close price is lower than that of Chikou Span at 26 periods ago, then we can safely say that the likelihood of more bearish price action to go and vice versa.
  2. If Chikou Span cuts through the price line with no kumo resistant in sight, we can assume that the trend is bullish.
  3. If Chikou Span cuts through the price line with kumo resistant ahead, we can expect resistant levels.



What i question of you red, is that do you calculate for example an ma's moves by hand? isn't that difficult?
do you find it useful that way?

Have I got something on my face, SOLDIER?
  • #304
  • Sep 22, 2011 11:23am Sep 22, 2011 11:23am
http://tradingichimoku.com/wp-conten...indicators.png
Have I got something on my face, SOLDIER?
  • #305
  • Sep 22, 2011 11:28am Sep 22, 2011 11:28am
NEVER MIND NOW I GET IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

YOU KEEP TELLING ME OF QUOTESSSSS!!! BID/ASK PRICES!!!

IF I MASTER THIS THING, PRICE ACTION AT LEVELS, CALCULATE THESE FORMULAS ACCURATELY, DRAW THEM OUT SOMEHOW, AND THEN BANG.
am i right or am i wrong?

i just got a big ligtbulb in my head.
Have I got something on my face, SOLDIER?
  • #306
  • Sep 22, 2011 11:42am Sep 22, 2011 11:42am
Quoting bumapatria
NEVER MIND NOW I GET IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

YOU KEEP TELLING ME OF QUOTESSSSS!!! BID/ASK PRICES!!!

IF I MASTER THIS THING, PRICE ACTION AT LEVELS, CALCULATE THESE FORMULAS ACCURATELY, DRAW THEM OUT SOMEHOW, AND THEN BANG.
am i right or am i wrong?

i just got a big ligtbulb in my head.
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  • #307
  • Sep 22, 2011 11:45am Sep 22, 2011 11:45am
Quoting GoldMan.
interesting... inverted head and shoulders...

when your demand level is pierced do you still consider it usable level? on sam's vid he says that the best are the ones in which less than 50% have been used.

WHats your thought on the topic?

fuckign hell sorry, i didnt notice the QUOTEs. shit... this is useful. supply and demand zones are just to help us visually see where the possible buy or sell levels are right? a visual depiction of the quote.
Have I got something on my face, SOLDIER?
  • #308
  • Sep 22, 2011 11:49am Sep 22, 2011 11:49am
Quoting bumapatria
interesting... inverted head and shoulders...

when your demand level is pierced do you still consider it usable level? on sam's vid he says that the best are the ones in which less than 50% have been used.

WHats your thought on the topic?
If they are small time frame SD then i don't care about 50% rule.
  • #309
  • Sep 22, 2011 11:51am Sep 22, 2011 11:51am
Quoting bumapatria
interesting... inverted head and shoulders...

when your demand level is pierced do you still consider it usable level? on sam's vid he says that the best are the ones in which less than 50% have been used.

WHats your thought on the topic?
how come your not in school?
  • #310
  • Sep 22, 2011 11:55am Sep 22, 2011 11:55am
Quoting PoundTrader
how come your not in school?
maybe because its 11:55 pm in my time..

i dont know should i go to school at this time?


i have big time difference with u US guys. Im GMT +7
Have I got something on my face, SOLDIER?
  • #311
  • Sep 22, 2011 11:56am Sep 22, 2011 11:56am
Quoting bumapatria
maybe because its 11:55 pm in my time..

i dont know should i go to school at this time?


i have big time difference with u US guys. Im GMT +7
,
  • #312
  • Sep 22, 2011 11:58am Sep 22, 2011 11:58am
Quoting bumapatria
maybe because its 11:55 pm in my time..

i dont know should i go to school at this time?


i have big time difference with u US guys. Im GMT +7
well how come your not in bed for school tommorow
  • #313
  • Sep 22, 2011 12:00pm Sep 22, 2011 12:00pm
Quoting PoundTrader
well how come your not in bed for school tommorow
im homeschooled for this year only. I figured i have many activities in and outside of house that school time kills it for this year. going to school next year though.

Dont worry i have good time management skills.

i just woke up from nap.
Have I got something on my face, SOLDIER?
  • #314
  • Sep 22, 2011 12:00pm Sep 22, 2011 12:00pm
i don't think that's what i meant. to put it simpler

be careful not of not being too busy calculating where the bus might be in the next 3 bus stops, that he changes routes and leaves you stranded, or worse yet if you are in the middle of the street with your calculator, he might just take you out.

i realize that i SHOULD let you do your search, for your style. YOU SHOULD EXPERIMENT WITH EVERYTHING AT THE END WHEN YOU ARE DONE EXPERIMENTING.

remember to change your philosophy from predicting, to adapting
AVT INVENIAM VIAM AVT FACIAM
  • #315
  • Sep 22, 2011 12:07pm Sep 22, 2011 12:07pm
Quoting the redlion
i don't think that i meant. to put it simpler

be careful not of not being too busy calculating where the bus might be in the next 3 bus stops, that he changes routes and leaves you stranded, or worse yet if you are in the middle of the street with your calculator, he might just take you out.

i realize that i SHOULD let you do your search, for your style. YOU SHOULD EXPERIMENT WITH EVERYTHING AT THE END WHEN YOU ARE DONE EXPERIMENTING.

remember to change your philosophy from predicting, to adapting
oh misconception then. the bus thing was a good way to put it. thanks redlion, its true, im only 2 months into this, and i am still in the process of learning and experimentation. Like a newbie doctor, i want to know how i can excel in the field, and i just need to find the right tools to perform the art. Perform meaning apply.

Thanks red
Have I got something on my face, SOLDIER?
  • #316
  • Sep 22, 2011 12:21pm Sep 22, 2011 12:21pm
im enjoying a nice trading buddy conference with deankenny 21.

sharing good ideas about SD, and combining with other price action strategies.
Have I got something on my face, SOLDIER?
  • #317
  • Sep 22, 2011 12:25pm Sep 22, 2011 12:25pm
hey bumapatria, find patterns in the indicators you experiment with, and try to really understand the idea behind them.

for example

bars, candle sticks= OHLC for X period of time, why? why is this important? what can you measure about the market with this?

SMA,EMA,SMMA,WMA= average price, why? what can you measure with this? why is this important?

supply/demand zones, Bollinger Bands, Range indicator, Support and Resistance= range of price movement, deviation from the mean

oscillators, and momentum indicators= they are calculating possible pull back

elliot wave, dow jones theories= wave within waves, as above so below.

Technical analysis Fundamental analysis= they all try to profit from factors or events that create market inefficiencies

whatever style you end up with, remember that

1 price cannot be predicted
2 the only thing you control is your risk
3 the market is a whole organism not an organ or a cell

i dont see how i can help you any further, unless i teach you to trade like me and give you hand holding sessions.

so please go back to all i have posted, do your research and find your style.
it was my pleasure giving you advice.

See you in the markets kid
AVT INVENIAM VIAM AVT FACIAM
  • #318
  • Sep 22, 2011 12:37pm Sep 22, 2011 12:37pm
Quoting the redlion
hey bumapatria, find patterns in the indicators you experiment with, and try to really understand the idea behind them.

for example

bars, candle sticks= OHLC for X period of time, why? why is this important? what can you measure about the market with this?

SMA,EMA,SMMA,WMA= average price, why? what can you measure with this? why is this important?

supply/demand zones, Bollinger Bands, Range indicator, Support and Resistance= range of price movement, deviation from the mean

oscillators, and momentum indicators= they are calculating possible...
thank you for all your advice given, i truly appreciate it, and if you wish to share some setups with good explanations, you're welcome to post it here.

See you too redlion, been nice listening and learning. Now its matter of applying.

You're always welcome here,

thanks man

stay a lion. dont lose your mane.
Have I got something on my face, SOLDIER?
  • #319
  • Sep 22, 2011 12:43pm Sep 22, 2011 12:43pm
by the looks of me, despite the demand level on the daily chart, the head and shoulders pattern is making me nervous not going so well,

market might be ranging, and market might might make a nice rising wedge and fall again.
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  • #320
  • Sep 22, 2011 2:23pm Sep 22, 2011 2:23pm
Hey Buma, you asked me about harmonics. I'm new to them as well.. But I found this vid a few hours ago and it got me excited:

Inserted Video


He gives in depth explanation on these harmonics, supply/demand zones drawing in a very clear way. It's really worth to watch it
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