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14 Year Old Forex Trader's Lessons

  • #1,201
  • Oct 2, 2011 5:45pm Oct 2, 2011 5:45pm
Nice to have such a young promising south east asian here. Hope you going well. Don't forget your academic duty though
  • #1,202
  • Oct 2, 2011 6:47pm Oct 2, 2011 6:47pm
Quoting duyk20
Nice to have such a young promising south east asian here. Hope you going well. Don't forget your academic duty though
Thanks Duyk20.
I won't forget.

I will commit to both.

Have I got something on my face, SOLDIER?
  • #1,203
  • Oct 2, 2011 6:52pm Oct 2, 2011 6:52pm
@Mla thank you for addressing this.
I dont think ive analyzed EUR/USd, but here's the sitch. Its a ranging market on the small timeframes, such as the 5 minute, 15 minute chart.
I say trade the box until it breaks.

this huge bell and light bulb went off in my head.

ACCUMULATION!!!

watch for breakouts on either side of the fight.

ADD: now im off studying will come back in next hour or so.
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Have I got something on my face, SOLDIER?
  • #1,204
  • Oct 2, 2011 7:03pm Oct 2, 2011 7:03pm
My 1st trade of the day

She broke the channel the way down, pulled back towards the lower TL of the channel, weekly and daily low, forms an indecision bar, I place a 1 pips sell stop order below it @ 1.3356, SL 1.3367, I am in, she reaches the latest swing low, I cover half and moved my SL to BE, she goes further down but apparently my SL at BE has been triggered, and seem that prices did not get there. Bastards those brokers, they are all the same bastards.

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #1,205
  • Oct 2, 2011 7:06pm Oct 2, 2011 7:06pm
observations for today on eur/usd

Greece admitted they cannot meet target, their deficit is bigger than what Troika stipulated. Germans are growing more accepting on a greek default, To me, The Euro still has a lot of downside potential.

right now if technically speaking we are at the low end on the trading range, we broke through the 1.34 level and currently trading just above daily open ranging from 1.3368-1.3331 so far.
granted we have low liquidity today due to bank holidays but the market has spoken last friday with a decisive sell off. we can see the Gap that has not been filled nor has there been any attempt to fill it.

seems like the market cannot sustain the ASK bids above the 1.3368 and a revisiting of the 1.34 level is still in the questions but unlikely as of now.

the London open with out germany will probably be low liquidity as well but we never know. im shorting rallies,

stay nimble and be aware of Bluffers, or stop hunters, still its safest to fade the reallies, and bull traps
AVT INVENIAM VIAM AVT FACIAM
  • #1,206
  • Oct 2, 2011 7:10pm Oct 2, 2011 7:10pm
@Redlion.

Great observation, im not interested in fiber now.
More on other pairs with a more clear sense of direction than eur/usd. Right now im just seeing accumulation of next momentum, possible bull trap as you say, maybe spike, then euro bears step in ot play.

well thats what could happen.
Have I got something on my face, SOLDIER?
  • #1,207
  • Oct 2, 2011 7:16pm Oct 2, 2011 7:16pm
which ones buma?

remember what i told you about the correlations between crosses and majors
AVT INVENIAM VIAM AVT FACIAM
  • #1,208
  • Oct 2, 2011 7:24pm Oct 2, 2011 7:24pm
Quoting the redlion
which ones buma?

remember what i told you about the correlations between crosses and majors
Yes i do. Im shorting the EUR/CAD.
and AUD/NZD.

reasons and explanatiosn are a few pages back.
Have I got something on my face, SOLDIER?
  • #1,209
  • Oct 2, 2011 7:26pm Oct 2, 2011 7:26pm
Quoting mla
Good morning, is bank holiday here in Australia.

A bit of a fight yesterday, unusual for this thread, I would address anyone with this attitude to be part of the other thread (eurusd) were bullies are the norm.
This is a thread of tolerance, respect and most of all very visual, so post your pic instead of ego trip and bs and you are welcome.

She is forming a bullish channel, she is struggling against few resistance, the weekly low, the daily low and the pull back of the weekly bullish TL broken.

mla
There was no fighting, I made a suggestion of where to research material, was called was nasty names, I did not respond, no fight.

I am out of here, as the title says, it is for adolescents, you will not see me back here, good luck with your trading.
It takes a lot for me to IGNORE you, but you can try.
  • #1,210
  • Oct 2, 2011 8:28pm Oct 2, 2011 8:28pm
Stopped out on Dow Jones and Eur/Cad.
So it IS good to have stop loss, especially when you're judgement is not as clear about your trade.

Lets rescue this with aud/nzd

I believe its better to trade larger TF's. See bigger picture. Sometimes we are too clouded seeing the smaller TF's.
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Have I got something on my face, SOLDIER?
  • #1,211
  • Oct 2, 2011 8:35pm Oct 2, 2011 8:35pm
tsk tsk tsk buma.

larger time frames are made up of small TF's therefore the small TF offer a fresher picture, its a matter of knowing where you stand in relationship to the large TF.

do Multi TF analysis. and if your judgement is cloudy maybe a break would be a good idea.

atoms make up cells, DO NOT EVER think that they are just noise, it seems like noise to those that do not know how they are trading in relationship to the bigger TF.

time frames are nothing but pip movement cut in X amount of time.
AVT INVENIAM VIAM AVT FACIAM
  • #1,212
  • Oct 2, 2011 8:42pm Oct 2, 2011 8:42pm
I just had a go with my broker, they do not want take any responsibility

I reported them to the right authorities.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,213
  • Oct 2, 2011 8:47pm Oct 2, 2011 8:47pm
im thinking of using Citi pro FX to open up a large USD account since they are an interbank, but i don't know how they operate. So far i use GFT they seem pretty good and reliable for now
AVT INVENIAM VIAM AVT FACIAM
  • #1,214
  • Oct 2, 2011 9:52pm Oct 2, 2011 9:52pm
Quoting the redlion
tsk tsk tsk buma.

larger time frames are made up of small TF's therefore the small TF offer a fresher picture, its a matter of knowing where you stand in relationship to the large TF.

do Multi TF analysis. and if your judgement is cloudy maybe a break would be a good idea.

atoms make up cells, DO NOT EVER think that they are just noise, it seems like noise to those that do not know how they are trading in relationship to the bigger TF.

time frames are nothing but pip movement cut in X amount of time.

thanks for reminding me.
Have I got something on my face, SOLDIER?
  • #1,215
  • Oct 2, 2011 10:49pm Oct 2, 2011 10:49pm
performing a rescue-lets-cover-up the loss trade for the other ones.



will show results later.
Have I got something on my face, SOLDIER?
  • #1,216
  • Oct 3, 2011 12:18am Oct 3, 2011 12:18am
made another 8 pips with half amount.

Ranging day today.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,217
  • Oct 3, 2011 12:20am Oct 3, 2011 12:20am
Having a lovely rescue so far.
Opportunity arised in gold, watched some cnbc, and technically gold is a good buy for me atm.

Eur.cad re-short also doing very fine.
Attached Image(s) (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #1,218
  • Oct 3, 2011 12:28am Oct 3, 2011 12:28am
@Goldman, i see you are hanging around here. Stopped posting?
Have I got something on my face, SOLDIER?
  • #1,219
  • Oct 3, 2011 12:31am Oct 3, 2011 12:31am
I feel she is going to go up despite everything else. Lets see if I am wrong again.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,220
  • Oct 3, 2011 12:33am Oct 3, 2011 12:33am
Goldman, where is she now in supply or demand mode?

mla
"The Heart is the hub of all dances; go there and chill out"
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