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14 Year Old Forex Trader's Lessons

  • #1,281
  • Oct 3, 2011 7:29am Oct 3, 2011 7:29am
Quoting PipTrapper
yes they are becoming sheepish. LOL


mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,282
  • Oct 3, 2011 7:29am Oct 3, 2011 7:29am
Quoting PipTrapper
yes they are becoming sheepish. LOL
Don't get too bearish. The bull paddock gates will be opened at 3:30pm EST
Those who say it cannot be done should not interrupt those who are doing it
  • #1,283
  • Oct 3, 2011 7:30am Oct 3, 2011 7:30am
If they do not hold could be a nice way down.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,284
  • Oct 3, 2011 7:32am Oct 3, 2011 7:32am
@Mla,

im sorry mate, but you have violated a big rule on this thread, and im sorry u are going on my ignore list and will not be able to post anymore. Im sorry, but every action has its consequence.
Have I got something on my face, SOLDIER?
  • #1,285
  • Oct 3, 2011 7:33am Oct 3, 2011 7:33am
Quoting mla
If they do not hold could be a nice way down.

mla
I covered another 1/4 at +21. did not like those long tails

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,286
  • Oct 3, 2011 7:34am Oct 3, 2011 7:34am
Quoting mla
If they do not hold could be a nice way down.

mla
Remember the day traders at Wall Street are looking for any excuse to buy something which I am sure they will dump by session end.

The catalyst today will be in these news releases.

10:00amUSDISM Manufacturing PMI 50.5 50.6
10:00amUSDConstruction Spending m/m -0.1% -1.3%
10:00amUSDISM Manufacturing Prices 54.3 55.5

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #1,287
  • Oct 3, 2011 7:35am Oct 3, 2011 7:35am
Quoting PipTrapper
Remember the day traders at Wall Street are looking for any excuse to buy something which I am sure they will dump by session end.

The catalyst today will be in these news releases.

10:00amUSDISM Manufacturing PMI 50.5 50.6
10:00amUSDConstruction Spending m/m -0.1% -1.3%
10:00amUSDISM Manufacturing Prices 54.3 55.5

Cheers
PT
So those are news that move the market?

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,288
  • Oct 3, 2011 7:36am Oct 3, 2011 7:36am
Quoting mla
She also made a new low

mla
i guess you entered around that red circle (new TL broken), where is your SL (at prvious swing high) and your first TP; in case you didn't allready notice....i like your trading style !!! Last question for today, promissed.
Attached Image (click to enlarge)
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  • #1,289
  • Oct 3, 2011 7:40am Oct 3, 2011 7:40am
Quoting mla
So those are news that move the market?

mla
The first one does. ISM Manufactiring.
Remember, Wall St. day traders are looking for any excuse to day trade. The SP500 index is reaching the bottom of the range at around the 1100 handle. The top of the range is around the 1200 handle.

SP500 rally may push the euro up or at the very least, stabilize it more.

EDIT: I do not believe the fundamentals support a break of this SP500 range until after NFP figures are released on Friday. Therefore, the only thing that is likely to push the euro down right now is negative Euro news.

EDIT2: Also, since most institutional traders playing the "Short The Euro" game are only shorting on rallies. So if we get a rally today, be prepared to short on a bull exhaustion for a cool 100+ pips to the downside.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,290
  • Edited 8:35am Oct 3, 2011 7:46am | Edited 8:35am
Quoting huskyboy
i guess you entered around that red circle (new TL broken), where is your SL (at prvious swing high) and your first TP; in case you didn't allready notice....i like your trading style !!! Last question for today, promissed.
No, I was in at the bottom of the 1st bearish candle with the long tail and the reason was: I was long because she formed a nice pin bar, 3 bar before, that bounced from a bullish trendline and also from a pullback breakout pullback (never mind), got in and she formed 2 nice bull bars, after that she formed another nice bull bar (I was already up 18 pips), but then that bar reversed forming a bearish bar, I got out at + 3 pips and went short. Do you understand now what does it mean to be nimble and go in the opposite direction of the trapped one. I got out but many did not.

I hope it helps.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,291
  • Oct 3, 2011 7:51am Oct 3, 2011 7:51am
Quoting PipTrapper
The first one does. ISM Manufactiring.
Remember, Wall St. day traders are looking for any excuse to day trade. The SP500 index is reaching the bottom of the range at around the 1100 handle. The top of the range is around the 1200 handle.

SP500 rally may push the euro up or at the very least, stabilize it more.

EDIT: I do not believe the fundamentals support a break of this SP500 range until after NFP figures are released on Friday. Therefore, the only thing that is likely to push the euro down right now is...
Cheese mate,

Do you know where I find this useful informations, from FXScotia, from your home land, because it gives the bank view of things, so I find it useful.
What do you think?
http://www.scotiafx.com/FXCommentaries.htm
mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,292
  • Oct 3, 2011 7:54am Oct 3, 2011 7:54am
Quoting mla
Cheese mate,

Do you know where I find this useful informations, from FXScotia, from your home land, because it gives the bank view of things, so I find it useful.
What do you think?
http://www.scotiafx.com/FXCommentaries.htm
mla
Scotiabank sucks at properly forecasting. Their arrogance blinds them.
If you want solid analysis, you want to look at what Bank of Montreal has to say. They are usually spot on. I will find the link and post it for you.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,293
  • Oct 3, 2011 8:00am Oct 3, 2011 8:00am
Quoting bumapatria
@Mla,

im sorry mate, but you have violated a big rule on this thread, and im sorry u are going on my ignore list and will not be able to post anymore. Im sorry, but every action has its consequence.
If I dont post, I can assure you that I will make more money, trading on the 5m
TF is very challenging, specially in a day like this. I feel kind of stoned now and when I feel like this I am not good, so I think soon I am going to switch off and join another lady, one a bit more tranquil.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,294
  • Oct 3, 2011 8:06am Oct 3, 2011 8:06am
mla,

I cannot find the BMO link because they changed their website but I found an article from TD (Toronto Dominion) which would be very informative for you to understand the euro crisis.

http://www.td.com/document/PDF/econo...al_markets.pdf

I will look for the bmo link again later. Right now I have to keep an eye on the news.

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #1,295
  • Oct 3, 2011 8:11am Oct 3, 2011 8:11am
Quoting PipTrapper
Scotiabank sucks at properly forecasting. Their arrogance blinds them.
If you want solid analysis, you want to look at what Bank of Montreal has to say. They are usually spot on. I will find the link and post it for you.
Good to know, looking forward to the link. I do not use those informations to guide me in my trading, I use them to get a feel of what is going on, what news release is coming up, suggested reading and so on...

Actually most of the time i find those reading quite boring and forcing myself on reading them. I belevie that everything is in the candle and I get very fascinated by its own formations till the last second.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,296
  • Oct 3, 2011 8:12am Oct 3, 2011 8:12am
Quoting PipTrapper
mla,

I cannot find the BMO link because they changed their website but I found an article from TD (Toronto Dominion) which would be very informative for you to understand the euro crisis.

http://www.td.com/document/PDF/econo...al_markets.pdf

I will look for the bmo link again later. Right now I have to keep an eye on the news.

Cheers
PT
Cheese mate

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,297
  • Oct 3, 2011 8:17am Oct 3, 2011 8:17am
Hi Bill

How was you day on the Isle of White yesterday? Was it sunny? Any good beer around there?

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,298
  • Oct 3, 2011 8:24am Oct 3, 2011 8:24am
the weather was glorious and because i was with daughter i didn't have any beer lol. i been on the beach today and now i'm just sort of chilling out. i have no trades at present but i keep watching the e/u when i pass laptop lol.its almost on my 2 support i nearly bought at 3310 but that would've been a bit not my style i would prefer it to drop a bit more, anyway look after yourself
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,299
  • Oct 3, 2011 8:25am Oct 3, 2011 8:25am
Quoting mla
Good to know, looking forward to the link. I do not use those informations to guide me in my trading, I use them to get a feel of what is going on, what news release is coming up, suggested reading and so on...

Actually most of the time i find those reading quite boring and forcing myself on reading them. I belevie that everything is in the candle and I get very fascinated by its own formations till the last second.

mla
Forex Factory has a comprehensive calendar of all news events.
Check here --> http://www.forexfactory.com/calendar.php
Those who say it cannot be done should not interrupt those who are doing it
  • #1,300
  • Oct 3, 2011 8:29am Oct 3, 2011 8:29am
Quoting billytt
the weather was glorious and because i was with daughter i didn't have any beer lol. i been on the beach today and now i'm just sort of chilling out. i have no trades at present but i keep watching the e/u when i pass laptop lol.its almost on my 2 support i nearly bought at 3310 but that would've been a bit not my style i would prefer it to drop a bit more, anyway look after yourself
Thanks mate.

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