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14 Year Old Forex Trader's Lessons

  • #841
  • Sep 27, 2011 9:51am Sep 27, 2011 9:51am
Today's push upwards on some market confidence that Europe may be able to save Greece from burning up in flames has brought the price very close to our target shorting area. The high today has hit 1.3656. Kind of in the zone but it is in the low end and has not reached the falling channel resistance.
The objective is to place a short at or above that level. Therefore the short position has not yet been taken.
Will we see the 1.37 level today? The technicals say it is still possible for now and the equity market moves to the upside do support it.
Price action on the H1 chart has not yet confirmed any reversal to the downside. Therefore we shall leave the possibility of seeing our target today.

Here are the H1 chart of the EUR/USD and the D1 chart of the SP500
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu-h1.gif Size: 32 KB
Click to Enlarge Name: sp500-d1.gif Size: 35 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #842
  • Sep 27, 2011 10:16am Sep 27, 2011 10:16am
@piptrapper

we are all on the same page here mate...

1.3700s the killzone.
Have I got something on my face, SOLDIER?
  • #843
  • Sep 27, 2011 10:28am Sep 27, 2011 10:28am
Quoting bumapatria
@piptrapper

we are all on the same page here mate...

1.3700s the killzone.
Patiently waiting
Those who say it cannot be done should not interrupt those who are doing it
  • #844
  • Sep 27, 2011 10:36am Sep 27, 2011 10:36am
Quoting PipTrapper
Patiently waiting
while u dudes wait...

im trading silver

woohoo!!
Have I got something on my face, SOLDIER?
  • #845
  • Sep 27, 2011 10:56am Sep 27, 2011 10:56am
Quoting bumapatria
while u dudes wait...

im trading silver

woohoo!!
Silver should bounce to $40 again before the next tailspin but that could take weeks.
I also expect a bounce on gold to about $1850 area before a much sharper fall.

EDIT: Although I arrive at these figures through technical analysis, they are still only a prediction.
Those who say it cannot be done should not interrupt those who are doing it
  • #846
  • Sep 27, 2011 11:00am Sep 27, 2011 11:00am
closed out silver short.

$50 in value. of the trade
Have I got something on my face, SOLDIER?
  • #847
  • Sep 27, 2011 11:12am Sep 27, 2011 11:12am
5 Reasons for Current Euro Strength (And Why It Is Temporary)
Those who say it cannot be done should not interrupt those who are doing it
  • #848
  • Sep 27, 2011 11:12am Sep 27, 2011 11:12am
Quoting highlander2
my judgement of the PA on the euro at the moment is that we are getting ready to break higher, but i could well be wrong....

h2
nice breakout, but as its against the trend hard to say how far it can go. I have moved my stop to 1.3464 entry was 1.3488.
  • #849
  • Sep 27, 2011 11:16am Sep 27, 2011 11:16am
Quoting bumapatria
closed out silver short.

$50 in value. of the trade
Do you ever sleep?????!!!!
  • #850
  • Sep 27, 2011 11:23am Sep 27, 2011 11:23am
Quoting highlander2
Do you ever sleep?????!!!!
why man?
sleeping is for girls.

ill sleep LATER. its only half past eleven here.
Have I got something on my face, SOLDIER?
  • #851
  • Sep 27, 2011 12:28pm Sep 27, 2011 12:28pm
Current resistance zone starts around 1.3645 up to and including 1.3730.

If it can make it to 1.3700 I will short there, otherwise I will take what I can get anywhere above 1.3670.

Makes no difference as I know where this is going.

My stops will be just above 1.3940 but I will be flexible with those stops depending on what patterns I see and what the fundies are telling me.

Peace
Attached Image (click to enlarge)
Click to Enlarge Name: eu-h1.gif Size: 34 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #852
  • Sep 27, 2011 1:29pm Sep 27, 2011 1:29pm
Quoting PipTrapper
Current resistance zone starts around 1.3645 up to and including 1.3730.

If it can make it to 1.3700 I will short there, otherwise I will take what I can get anywhere above 1.3670.

Makes no difference as I know where this is going.

My stops will be just above 1.3940 but I will be flexible with those stops depending on what patterns I see and what the fundies are telling me.

Peace
Good plan. one thing bothering me a tad bit is the thin kumo cloud. but nevertheless, piercing through at this level of acceleration or speed doesn't look at all like a reversal to me. Only some rising wedge for us to short. price action looks well by now for the bulls, my silver and gold shorts were closed, and here's the analysis. First i think price needs to calm down in a supply zone or a 'resting zone' somewhere before bearish momentum kicks in. im seeing 3700-3770s as the resistance aka supply.
Attached Image (click to enlarge)
Click to Enlarge Name: thee fits.gif Size: 26 KB
Have I got something on my face, SOLDIER?
  • #853
  • Sep 27, 2011 1:36pm Sep 27, 2011 1:36pm
Results as of today:

ROI%: 113% over the course of 14 days/2 weeks.

Lot sizes used: 0.01 minimal, 0.02-0.03 frequent usage.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
Have I got something on my face, SOLDIER?
  • #854
  • Sep 27, 2011 1:45pm Sep 27, 2011 1:45pm
Quoting bumapatria
Results as of today:

ROI%: 113% over the course of 14 days/2 weeks.

Lot sizes used: 0.01 minimal, 0.02-0.03 frequent usage.

  • #855
  • Sep 27, 2011 2:15pm Sep 27, 2011 2:15pm
Quoting bumapatria
Results as of today:

ROI%: 113% over the course of 14 days/2 weeks.

Lot sizes used: 0.01 minimal, 0.02-0.03 frequent usage.
Thats great Buma,congrats,you are doing very well indeed!
  • #856
  • Sep 27, 2011 3:16pm Sep 27, 2011 3:16pm
Quoting mla
Covered half @ 1.3570; +83 pips
moved my SL to 1.3556

Initial risk 8 pips, very good R/R, I bought just @ the bottom, just luck I guess.
Last 3 day I have been working very hard, one particular day I worked from 6 am until midnight, the following days I was f up, and I noticed that is not good for my trading, earlier today I made 3 mistakes.
So I have decided to work less and perform better. I am turning my mac off and I thank you all for the ride.

mla
Morning, just got up, my second half covered at 1.3603: +116 pips
R/R entirely: 1/12.4. This trade made my day (or my week).

mla
"The Heart is the hub of all dances; go there and chill out"
  • #857
  • Edited 6:06pm Sep 27, 2011 3:41pm | Edited 6:06pm
Getting ready to change sides in this market, if its like this in 20 min.

When price breaks below low of 4hr pin (1.3577) i will take profits on my long and go short, stop loss will be 1.3673, targets will be the weeks low for some, plus more as i believe the low could break.

until the pin bar low breaks i am still long though.


Edit: have taken profits and reversed my position, now short eur/usd.

lets see if it was a good decision in the morning....
Attached Image (click to enlarge)
Click to Enlarge Name: aaa.jpg Size: 59 KB
  • #858
  • Sep 27, 2011 6:02pm Sep 27, 2011 6:02pm
ah... i awoke from my eternal slumber...

so i do sleep highlander...
Have I got something on my face, SOLDIER?
  • #859
  • Sep 27, 2011 7:01pm Sep 27, 2011 7:01pm
Quoting bumapatria
ah... i awoke from my eternal slumber...

so i do sleep highlander...
Good morning to you.

Your tread has reached nearly 60 pages. Congrat.

Could you show me please how do you determine supply/demand levels?

Also of your last trade can you show me a pic where you got in and out? Maybe if you zoom in will be nice, because I cannot see very much details in your pics, that will be great, thank you.

One last thing....Every time Forexboom is posting, everybody is making fun of him (mostly losers), I think it will be nice of you to invite him to participate on this tread, does not matter what he thinks, we all think differently, thank God. If you do it just be gentile. It is your call.
Compassion is also an important prerogative.

Your humble friend
mla
"The Heart is the hub of all dances; go there and chill out"
  • #860
  • Sep 27, 2011 7:18pm Sep 27, 2011 7:18pm
Quoting mla
Good morning to you.

Your tread has reached nearly 60 pages. Congrat.

Could you show me please how do you determine supply/demand levels?

Also of your last trade can you show me a pic where you got in and out? Maybe if you zoom in will be nice, because I cannot see very much details in your pics, that will be great, thank you.

One last thing....Every time Forexboom is posting, everybody is making fun of him (mostly losers), I think it will be nice of you to invite him to participate on this tread, does not matter what he thinks, we all think...
I wouldnt do that for the sake of this thread and its participants. He is a troll. Trust me, he doesn't need to be felt sorry for or anything. Im sorry mate, but he sent me a Pm saying to look at his chart and look at a new way in trading. There was no chart. I truly think he trolls, Im sorry.

Which trades are you speaking of? Gold? silver?

Btw, good morning to you too

sure ill show you examples.
Have I got something on my face, SOLDIER?
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