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14 Year Old Forex Trader's Lessons

  • #921
  • Sep 28, 2011 1:39pm Sep 28, 2011 1:39pm
@piptrapper,

thats true. sell the tops, not the bottoms. If you wanna jump in to a trend, wait for a clear impulse to the trend that you predict that it would accumulate enough momentum for the trend.

Im already in long time ago. But i didnt know that the thing happened with spain and italy. thanks mate. Its proven that markets move because of the majoirty human reaction to fundamentals. Technicals are just a visual way to explain.



thanks puptrapper
Have I got something on my face, SOLDIER?
  • #922
  • Sep 28, 2011 2:31pm Sep 28, 2011 2:31pm
Read this article by Dow Jones and add the mentioned dates to your calendar of events as they probably won't show up on the FF events calendar.

EU CRISIS ROAD MAP: KEY MILESTONES AHEAD

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Those who say it cannot be done should not interrupt those who are doing it
  • #923
  • Edited 7:17pm Sep 28, 2011 6:15pm | Edited 7:17pm
Good morning to you all, raining day in Sydney.

Well the lesson I leant from yesterday was this:

I made only one trade with +4 pips.

I missed two great long set ups and the one I made was a short one, that I turned into a scalp that produced 140 pips.

Now why did I do that, the first 2 long set up I missed because they were not confirmed by my intermarket market analysis,(bullshit) and the third one I turned into a scalp because in my mind (sleepy) the trend was up.

I came to a conclusion that intermarket analysis and the news are all showing in the PA, in each individual candle. Looking for confirmations is only a way to hide your insecurity, to find an excuse to your decision. The bars tells it all, if the set up is there, take it, if you are wrong does not matter, you did the right thing.

Sorry to bored you with this crap.

All the Best
mla
"The Heart is the hub of all dances; go there and chill out"
  • #924
  • Sep 28, 2011 7:20pm Sep 28, 2011 7:20pm
Hi traders i'm back. hope you've had a good 3 days trading. i'm up 260 pips after a 40 pip loss. Thats not bad considering i was trading from a boat. Hows your trading doing Bumap. You are getting some good advice from members it actually got me thinking and its hard to explain but you can read between the lines( a saying) of what many ae saying, but at the end of the day i do keep it simple. happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #925
  • Sep 28, 2011 8:39pm Sep 28, 2011 8:39pm
Made 9 pips, covered at the top of the range.

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #926
  • Sep 28, 2011 10:00pm Sep 28, 2011 10:00pm
Hi everyone, after all the learning, coaching i got just from 2 weeks i have learnt about myself as a person, even though i keep finding a new mystery about myself through trading and just through living life itself and more about the mystery of the markets, and how it moves, why it moves a certain way, why it accepts this as this, why this as that. But mostly, i actually got the time to know who i am. This may sound irrelevant, but it isn't. I feel all the better knowing myself, after this 2 weeks. It feels good not to only win, but to know and apply more of the amazing underground knowledge, and really KNOW MYSELF more!!

I honestly felt the difference just from 2 weeks ago until today. I used to trade with indi-madness-massacre that kills the beauty and already-available knowledge on the chart itself. The system and strategy definitely killed me. But realize it: was it the system's fault or YOUR fault? i mean after all, i clogged up my chart with crap i don't use therefore ITS MY FAULT. I also have been able to be humble with the mistakes i commit in trading and in life and have open ears and mind for anything i find useful.

I just would like to decree that you are your success or failure.. You can be the holy grail not some indicator, or you can choose not to be.

You're the cause. whats the effect?

This is from yesterday's counter-bull trade that was a tad-early

Good luck to everyone,

This is the effect of my cause, and my cause is strong willed and and persevered to go even further.

The effect is never as important as the cause itself.
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Have I got something on my face, SOLDIER?
  • #927
  • Sep 29, 2011 12:48am Sep 29, 2011 12:48am
She breaks the upper channel line and I am long, my SL is below the previous
inside bar, gained my risk and I am moving my SL below the previous swing low.

I use mt4 for my rubbish and another plat. to get in and out

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #928
  • Sep 29, 2011 12:52am Sep 29, 2011 12:52am
Quoting mla
She breaks the upper channel line and I am long, my SL is below the previous
inside bar, gained my risk and I am moving my SL below the previous swing low.

I use mt4 for my rubbish and another plat. to get in and out

mla
Covered half + 30 pips, moved my SL @ 1.3565, my entry was .13552.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #929
  • Sep 29, 2011 1:13am Sep 29, 2011 1:13am
Quoting mla
Covered half + 30 pips, moved my SL @ 1.3565, my entry was .13552.

mla
I would usually cover here my second lot, because she broke the nearest bullish trendline and formed a lower high.

But I am going to hold it here, because the TL that she broke is very steep.
I will however cover if she forms another lower high and breaks the significant bullish TL.

So as I said, I do not know where she is going to go (I leave that to expert) but I will be nimble to protect or increase my profit, and that is what is all about.

And I hope it helps.

Cheers
mla
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"The Heart is the hub of all dances; go there and chill out"
  • #930
  • Sep 29, 2011 1:25am Sep 29, 2011 1:25am
Quoting mla
I would usually cover here my second lot, because she broke the nearest bullish trendline and formed a lower high.

But I am going to hold it here, because the TL that she broke is very steep.
I will however cover if she forms another lower high and breaks the significant bullish TL.

So as I said, I do not know where she is going to go (I leave that to expert) but I will be nimble to protect or increase my profit, and that is what is all about.

And I hope it helps.

Cheers
mla
now I just moved my SL below the bullish pin bar that bounced from the significant TL @ 1.3636

mla
"The Heart is the hub of all dances; go there and chill out"
  • #931
  • Sep 29, 2011 1:29am Sep 29, 2011 1:29am
Good morning everyone and welcome to the new posters.
Sorry I don't have time to say much as I am in analysis mode right now.
Price has moved back up as I anticipated yesterday.
Today will be an interesting day so I want to make sure I end up on the right side of whatever move we are going to see.
One note of interest is that the Asian markets are up. Will that set the pace for the day in the euro markets? Not sure at this point, but I am still calling for a re-entry into the sell zone this session.
Will post more later.
Cheers

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Those who say it cannot be done should not interrupt those who are doing it
  • #932
  • Edited 1:54am Sep 29, 2011 1:30am | Edited 1:54am
Quoting mla
now I just moved my SL below the bullish pin bar that bounced from the significant TL @ 1.3636

mla
Sorry 1.3606

mla
"The Heart is the hub of all dances; go there and chill out"
  • #933
  • Sep 29, 2011 1:32am Sep 29, 2011 1:32am
Quoting PipTrapper
Good morning everyone and welcome to the new posters.
Sorry I don't have time to say much as I am in analysis mode right now.
Price has moved back up as I anticipated yesterday.
Today will be an interesting day so I want to make sure I end up on the right side of whatever move we are going to see.
One note of interest is that the Asian markets are up. Will that set the pace for the day in the euro markets? Not sure at this point, but I am still calling for a re-entry into the sell zone this session.
Will post more later.
Cheers

.
Good morning to you,mate.

Cheers
mla
"The Heart is the hub of all dances; go there and chill out"
  • #934
  • Sep 29, 2011 1:43am Sep 29, 2011 1:43am
There's a real bear/bull fight going on at this level. Who will win?
I have placed a sell stop at 1.3604
Those who say it cannot be done should not interrupt those who are doing it
  • #935
  • Sep 29, 2011 1:55am Sep 29, 2011 1:55am
Quoting mla
Sorry 1.3606

mla
I am out, +54 pips, average +42 for this trade and 10 pips the one before.

I think I am going to be on the side for at least 1 hour, she does not know with
whom she want go with.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #936
  • Sep 29, 2011 2:02am Sep 29, 2011 2:02am
Update:

From what I can tell at this point, the move up in the Asian equity markets is nothing more than short coverings before today's German vote.
A win is already priced in to the markets but a win in the German vote does nothing to solve any Euro problems as they run much deeper than that.
I am still hopeful that price will again move up in the sell zone before continuing downwards but I have covered myself with a sell top at 1.3604 just in case, which has now been triggered.

stay tuned.

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Those who say it cannot be done should not interrupt those who are doing it
  • #937
  • Sep 29, 2011 2:07am Sep 29, 2011 2:07am
Greek Protesters Block Troika Access to Ministries, In.gr Says

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Those who say it cannot be done should not interrupt those who are doing it
  • #938
  • Sep 29, 2011 2:47am Sep 29, 2011 2:47am
In you guys haven't been paying attention to E/U G/U 4hr, there was a identical supply level that held fantastically
  • #939
  • Sep 29, 2011 3:02am Sep 29, 2011 3:02am
Do the boys with the deep pocket already know what Germany is going to decide? Mah.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #940
  • Sep 29, 2011 3:09am Sep 29, 2011 3:09am
Quoting mla
Do the boys with the deep pocket already know what Germany is going to decide? Mah.

mla
Everybody knows that Germany will pass this vote.
The only question is how many from Merkel's party are going to vote against it.
Any more than 10 or 11 is bad news for Merkel, and since Merkel is the driving force behind this, bad news for her is bad news for everyone.

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Those who say it cannot be done should not interrupt those who are doing it
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