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14 Year Old Forex Trader's Lessons

  • #321
  • Sep 22, 2011 2:24pm Sep 22, 2011 2:24pm
For robertk,

please search supply demand on this thread, read goldman's posts, dean kenny's posts, and here's my brief to you:

you gotta find instability in the market where after that price either goes up drastically or goes down. the best zones are ones that have least candles.Supply is like resistance. Like not is. Demand is like support. again, like not is. its best to use on high tfs i recommend h1-weekly. i personally love h4. but it all depends on preference and market. how-to-draws are on chart.

the matter of where you draw them is mostly on your mind on what is instable (indecisive). you see the old supply zone and how the new price movement reflected off the zone? thats low risk entry for a goldmine of at least 1000 pips!
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Have I got something on my face, SOLDIER?
  • #322
  • Sep 22, 2011 2:27pm Sep 22, 2011 2:27pm
hey man, search the thread for supply and demand theres a nice link of sam seiden (great s/d trader), video webinar. its 50 mins long, make sure you really look at it when you have the time, and try to dive your brain into these eye opening facts.


Good luck man,

do you have any videos or tips on harmonics?

dont u need a fibo tool for the retracements?
Have I got something on my face, SOLDIER?
  • #323
  • Sep 22, 2011 2:44pm Sep 22, 2011 2:44pm
Quoting bumapatria
hey man, search the thread for supply and demand theres a nice link of sam seiden (great s/d trader), video webinar. its 50 mins long, make sure you really look at it when you have the time, and try to dive your brain into these eye opening facts.


Good luck man,

do you have any videos or tips on harmonics?

dont u need a fibo tool for the retracements?
Hey, thanks for your information so far. Regarding harmonics, don't get confused with the title of that video. Like said, its a 55min video that explains all the ins and outs on drawing harmonics and how to place trade setups on them effectively. He also talks about the use of fib's on these aye. Let me know if you found it any useful Good luck and green pips to you
  • #324
  • Sep 22, 2011 9:44pm Sep 22, 2011 9:44pm
hi
your thread is very interesting, not to mention i got some good advice and tips here
Valar Dohaeris
  • #325
  • Sep 23, 2011 6:20am Sep 23, 2011 6:20am
usual drill today. sell dow. sell gold. sell silver. sell crude. sell eur/usd.

here is the account statement graph.

started at 300 now at 470.54.

56.83% growth over 9 days.

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Have I got something on my face, SOLDIER?
  • #326
  • Sep 23, 2011 7:24am Sep 23, 2011 7:24am
Quoting bumapatria
usual drill today. sell dow. sell gold. sell silver. sell crude. sell eur/usd.

here is the account statement graph.

started at 300 now at 470.54.

56.83% growth over 9 days.

What's your risk per position? If I may be so bold as to ask?
  • #327
  • Sep 23, 2011 7:38am Sep 23, 2011 7:38am
Quoting T Bryant
What's your risk per position? If I may be so bold as to ask?
no more than 5% of equity. A rr ratio of at least 2:1

scalping 1:1.

i use sl when scalping, when trending or counter i only use sl when i have least conviction on a trade.
Have I got something on my face, SOLDIER?
  • #328
  • Sep 23, 2011 8:20am Sep 23, 2011 8:20am
Quoting bumapatria
no more than 5% of equity. A rr ratio of at least 2:1

scalping 1:1.

i use sl when scalping, when trending or counter i only use sl when i have least conviction on a trade.
why dont you put your trades here for us to follow n learn? so we also make some serious $$$???
  • #329
  • Sep 23, 2011 10:11am Sep 23, 2011 10:11am
Quoting behman8850
why dont you put your trades here for us to follow n learn? so we also make some serious $$$???
  • #330
  • Sep 23, 2011 10:37am Sep 23, 2011 10:37am
Quoting behman8850
why dont you put your trades here for us to follow n learn? so we also make some serious $$$???
Im just kid... i dont know anything i swear! take my clothes and my cardboard box home!!

lol.. okay ill show setups starting from next week.
Have I got something on my face, SOLDIER?
  • #331
  • Sep 23, 2011 10:39am Sep 23, 2011 10:39am
i love trading gap over weekend and heres my setup. one market order, and one sell stop. its a supply level, and looking to see a nice gap by monday.


muahaahhaha

thats my setup.

aanyone looking to join go ahead. i love weekends.

supple level, 38.2% retrracement. what better?!
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Have I got something on my face, SOLDIER?
  • #332
  • Sep 23, 2011 11:39am Sep 23, 2011 11:39am
forget the gap trade. too dangerous. closed 20+. I need to evaluate the possibilites of the gap opening higher.

Weekend is always a good time to review my trades, review strategy, review mindset, and read more trading bookks.

reading ichimoku: trading the clouds.
Have I got something on my face, SOLDIER?
  • #333
  • Sep 23, 2011 11:39am Sep 23, 2011 11:39am
hey little dude

i dont want to sound like an ass. however, have you been researching the things i posted? are you really putting some thought into them? or am i just wasting my time?

if you really want me to keep ranting , i need some show of effort kid, if not i can continue to juggle the Market and treating my patients
AVT INVENIAM VIAM AVT FACIAM
  • #334
  • Sep 23, 2011 11:45am Sep 23, 2011 11:45am
Quoting the redlion
hey little dude

i dont want to sound like an ass. however, have you been researching the things i posted? are you really putting some thought into them? or am i just wasting my time?

if you really want me to keep ranting , i need some show of effort kid, if not i can continue to juggle the Market and treating my patients
dont worry red, care doesnt make someone sound like an ass. makes you sound that you care.

Im reading yes, im looking for ebooks on the topic. you're not wasting your time. I just need time to fully understand them. I am willing to learn, and dont expect me to learn in 2 days. im using this weekend to the best of my abilities.

You're not wasting your time. Im not wasting my time.

Have I got something on my face, SOLDIER?
  • #335
  • Sep 23, 2011 11:55am Sep 23, 2011 11:55am
right now trying to look for webinars, pdf's, videos on all these terms you suggested me to look into/

such as risk assessment, velocity, acceleration, momentum, volatility, etc.

So much that ive got it in my notepad saved for terms to learn.

ADD: redlion, i dont think you mentioned unconditional probability which i just read about and i think useful.
http://i.investopedia.com/inv/dictio...uncondprob.gif
Have I got something on my face, SOLDIER?
  • #336
  • Sep 23, 2011 11:56am Sep 23, 2011 11:56am



great!!!! you'll have me here ranting till you REALLY start Analyzing the market.

there is a reason they call it TECHNICAL ANALYSIS, (not TECHNICAL PREDICTION)


analyze>plan>observe>implement>analyze>observe>plan>implement AT ALL TIMES.

regarding assuming you are always wrong, put it this way.

you see price is losing upside buying pressure, at about 1.35 right? by the look of the candles you spot a loss in speed, and now some selling pressure is evident. looking at other time frames or reference points in your chart, you notice that price is no longer going up. and what goes up MUST come down, the problem is.

how far?
when will it resume going up?
what if it continues further up before it comes down?

think of a plan, to put it simple you add your first position and you wait how the market is reacting, if you are confident on your analysis you add you second position, or methodically scale in.

you observe, price never moves in a straight line, so on every impulse wave you will have corrective waves, you measure the force, you observe and assess if your analysis is still valid (dont chicken out and pull out, BUT CONSTANTLY PERFORM OBJECTIVE MARKET ANALYSIS)

what happens if you were wrong? do you just put a stop loss and bite the bullet?

or do you average down close to market to get out b/e at a corrective wave?

do you hold for price to come back? IT WILL ALL DEPEND ON WHAT IS GOING ON IN THE MARKET, IF YOU ASSESSMENT, YOUR POSITION STILL VALID

always know your threshold, always predetermine your risk parameters.
AVT INVENIAM VIAM AVT FACIAM
  • #337
  • Sep 23, 2011 12:03pm Sep 23, 2011 12:03pm
@Redlion.

you are one of the best.



keep on ranting btw, i need someone reminding me if im doing something wrong, i need corrections, i need advice.

Im only 2 months into forex, that is a premature period.

I want to get into the mature period of this business with success and OBJECTIVE analysis of market movement, sentiment.

You just pushed me hard, and im willing to be pushed even more.

just once i get a grip on some stuff.

im really interested in everything. Momentum im researching now. so sad its hard to find single books on the topic to study it in-depth.
ima just search the web for info.

thanks man, u one of the best.

u deserve more than 8v's
Have I got something on my face, SOLDIER?
  • #338
  • Sep 23, 2011 12:09pm Sep 23, 2011 12:09pm
Quoting the redlion



great!!!! you'll have me here ranting till you REALLY start Analyzing the market.

there is a reason they call it TECHNICAL ANALYSIS, (not TECHNICAL PREDICTION)


analyze>plan>observe>implement>analyze>observe>plan>implement AT ALL TIMES.

regarding assuming you are always wrong, put it this way.

you see price is losing upside buying pressure, at about 1.35 right? by the look of the candles you spot a loss in speed, and now some selling pressure is evident. looking at other time frames or reference points in your chart, you...
I think this is one of the best post I have ever read in FF, you get my V bro
Now every novice trader please read it and try to digest what redlion just gave. It is better than gold.
  • #339
  • Sep 23, 2011 12:23pm Sep 23, 2011 12:23pm
Thanks Goldman, I was taught by fti, a TIER 1, spot forex interbank market maker, TOP GUN in strategic arbitrage.

i had that luck and the will to really understand and really learn. as is said before is spent countless hours in front of the screen looking at quotes till my eyes got watery, finding ways to analyze and measure, its that Hunger for knowledge that drives me to always do my best.

and when i see bumapatria, getting up from his fall, dusting himself off and finding the balls to go on, Hungry for knowledge.

i cant help but teach him, and guide him.
i got a lot of respect for you goldman, your ideas and analysis have a lot of substance.
AVT INVENIAM VIAM AVT FACIAM
  • #340
  • Sep 23, 2011 12:29pm Sep 23, 2011 12:29pm
all the things i gave to research, are on the web.
go to wiki lol they got some good info, investopedia.

you see on momentum, acceleration, speed, carrying capacity we are getting into physics, research the laws of motion.

granted price doesnt move like an object with mass however the movement of price does follow the laws of motion.

all the other research will give you good grounding on the market structure.

"know your enemy and know yourself and you must not fear the outcome of 1000 battles, know yourself but not the enemy, for every victory you will suffer a defeat. what is worse you do not know yourself NOR the enemy you will succumb in every battle"-----Sun Tsi the art of war
AVT INVENIAM VIAM AVT FACIAM
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