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14 Year Old Forex Trader's Lessons

  • #1,321
  • Oct 3, 2011 5:25pm Oct 3, 2011 5:25pm
Quoting minortrader
Yes, exactly. That is precisely what would help us (the new traders) to learn various strategies and methods used by various Masters and opt (or mould) one or two of those set-ups to suit our own preferred way of trading.

For example, brief explanation of Demand and Supply zones imparted by you in your last webinar has been a great help. But, personally I am still not very sure if I am applying same correctly in my trading. But if you (few) Masters start to post your trade set ups with brief explanations, it would positively help people like...
We all try to do out best. I will surely post setups, explain, and since i trade gold and silver, try to relate them to any other market/product.

I am going to post a trade in a few mins soon and if you have any questions please ask
Have I got something on my face, SOLDIER?
  • #1,322
  • Edited 5:52pm Oct 3, 2011 5:41pm | Edited 5:52pm
Silver rejection?
rejection: Long wicks indicate rejection that price moves up or down. It shows the main momentum's recession: going back.

Try to look for rejections in supply/demand levels. Look also for the opposite direction's pressure. If you're confident, open a trade. Put a SL at the demand's low or the supply's high.

ADD: sorry for wrong pic. uploaded the right one now.

ADD: SORRY!!! WRONG AGAIN!!!

heres the right one with entry. I cant put a sL or TP on silver, the minimum is way too high.
Attached Image (click to enlarge)
Click to Enlarge Name: here is the silver short.gif Size: 22 KB
Have I got something on my face, SOLDIER?
  • #1,323
  • Oct 3, 2011 6:16pm Oct 3, 2011 6:16pm
WOW, I expected that the EUR/USD would go down, but not that low .

Anyway, I think I made too much pip for the past day. Maybe I should slow down.

What about you Buma, you made green pip?
  • #1,324
  • Oct 3, 2011 6:23pm Oct 3, 2011 6:23pm
bad time to short.
lol... asian sessions dont really go down on gold and silver lol.

i closed the short at BE.

and bought at the jump. bad buy, because its almost reaching resistance or next supply.

Gold should be moving up too.
Have I got something on my face, SOLDIER?
  • #1,325
  • Oct 3, 2011 6:24pm Oct 3, 2011 6:24pm
Quoting Link
WOW, I expected that the EUR/USD would go down, but not that low .

Anyway, I think I made too much pip for the past day. Maybe I should slow down.

What about you Buma, you made green pip?
like hell i did

silver and gold. Eu is still no-trade zone for me lol.

okay, guys what i have noticed is conter-usd moves on asian session, so if any of you are looking to long, now is a good time.

usd bulls are asleep
Have I got something on my face, SOLDIER?
  • #1,326
  • Oct 3, 2011 6:26pm Oct 3, 2011 6:26pm
Quoting bumapatria
like hell i did

silver and gold. Eu is still no-trade zone for me lol.

okay, guys what i have noticed is conter-usd moves on asian session, so if any of you are looking to long, now is a good time.

usd bulls are asleep
For the past 5 week Ive been only shorting the EUR/USD. This is the best moment to trade that pair .
  • #1,327
  • Oct 3, 2011 6:27pm Oct 3, 2011 6:27pm
Bought Gold and Silver. Looking to reach next supply/resistance.

2 supply levels on gold eaten up by gold bulls.

Asian session usually are all profitable buys on gold and silver for now

Im thinking bull market on both.

Ill show you guys why
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold long.gif Size: 19 KB
Click to Enlarge Name: silver long.gif Size: 22 KB
Have I got something on my face, SOLDIER?
  • #1,328
  • Oct 3, 2011 6:32pm Oct 3, 2011 6:32pm
Explanation all included in charts.

possibly hold for a whole week

if price action agrees to the buying situation.


On next post i will show you the sitch on the ichimoku charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold daily.gif Size: 14 KB
Click to Enlarge Name: silver daily.gif Size: 16 KB
Have I got something on my face, SOLDIER?
  • #1,329
  • Oct 3, 2011 6:46pm Oct 3, 2011 6:46pm
Here is the ichimoku outlook on xau and xag.


TIP: for those of you interested in scalping, i say silver is best. Despite the high TP SL requirements, it is the best. It is stable in its movement. Gold fluctuates up and down quite fast, and for a beginner it can catch u off guard and close a winning position early.

Pros and Cons:

Silver:
-More Balanced in movement
-More Stable
-Buy and Sell probabilities
-High Take Profit/Stop Loss level
-Must monitor trades if scalping.

Gold:
-Volatility:Good for those that like volume Bad for those who hates floating here and there.
-So volatile, sometimes slippage on TP and SL. Once my TP never got hit after price went higher and higher.
-Good investment when currency market doesnt look like a good place to invest in.
-Needs controlled fear. This market is the most volatile. An m1 chart of gold looks like an hourly in eur.usd.

Advantages for both: they are correlated well. Silver goes down, gold goes down, up up, etc, most of the time. especially recently and now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xagusd.gif Size: 20 KB
Click to Enlarge Name: gold ichimoky.gif Size: 22 KB
Have I got something on my face, SOLDIER?
  • #1,330
  • Oct 3, 2011 6:54pm Oct 3, 2011 6:54pm
those are my weekly positions and to minimize loss, and maximize profit, ill try to catch moves in between. See this:

Ill just wait this one out.

For this week
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold m30.gif Size: 15 KB
Click to Enlarge Name: xagusd m30.gif Size: 22 KB
Have I got something on my face, SOLDIER?
  • #1,331
  • Oct 3, 2011 7:01pm Oct 3, 2011 7:01pm
Quoting minortrader
Yes, exactly. That is precisely what would help us (the new traders) to learn various strategies and methods used by various Masters and opt (or mould) one or two of those set-ups to suit our own preferred way of trading.

For example, brief explanation of Demand and Supply zones imparted by you in your last webinar has been a great help. But, personally I am still not very sure if I am applying same correctly in my trading. But if you (few) Masters start to post your trade set ups with brief explanations, it would positively help people...
Yes, but you also need to post yours.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,332
  • Oct 3, 2011 7:05pm Oct 3, 2011 7:05pm
hi every one, hope your fine
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,333
  • Oct 3, 2011 7:29pm Oct 3, 2011 7:29pm
i lost a few pips yesterday (not many ) lol on e/u anyway i'll stick to what i'm good at. i had a bit of drama with my broker as i made enquires about ( i think they called micro lots or something similar) but they more or less said NO thats for beginners lol so i have to stick with £2 minimum pip price. I was only going to try something new perhaps they are frightened lol. happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,334
  • Oct 3, 2011 7:52pm Oct 3, 2011 7:52pm
Guys, I was watch bloomberg when I saw the Value of Bank of America. Without knowing it I yell SHIT. How this can be possible, this bank is broke now. 5.5 $ a share, WDF
  • #1,335
  • Oct 3, 2011 7:53pm Oct 3, 2011 7:53pm
Quoting mla
Yes, but you also need to post yours.

mla
mla is right. Its a 2 way process.

How can someone teach another if the other doesn't want to learn - Anonymous.

So basically, you need to post your chart, and we can see what's good what's not so recommended whats a squished banana and wats not.

Have I got something on my face, SOLDIER?
  • #1,336
  • Oct 3, 2011 7:55pm Oct 3, 2011 7:55pm
Quoting Link
Guys, I was watch bloomberg when I saw the Value of Bank of America. Without knowing it I yell SHIT. How this can be possible, this bank is broke now. 5.5 $ a share, WDF

lol.. redlion also told me.

If i could trade stocks i would use like $200 and buy 36 shares. The worst thing if the thing goes bankrupt is you losing $200

i would risk that.
Have I got something on my face, SOLDIER?
  • #1,337
  • Oct 3, 2011 8:01pm Oct 3, 2011 8:01pm
Quoting bumapatria
lol.. redlion also told me.

If i could trade stocks i would use like $200 and buy 36 shares. The worst thing if the thing goes bankrupt is you losing $200

i would risk that.
Same for me, but i would invest my house on it . If thats the bottom, the price could reach 14 $ a share in coming months
  • #1,338
  • Oct 3, 2011 8:11pm Oct 3, 2011 8:11pm
Watching contagion.

did anyone watch it yet?
Have I got something on my face, SOLDIER?
  • #1,339
  • Oct 3, 2011 8:33pm Oct 3, 2011 8:33pm
Can you spot a candlestick pattern here?

i look at this i get a massive headache.

I dare one of you dudes to scalp this instrument...

AUD/NZD


This is a 5m charrt.

Someone scalp this if you have the guts
Attached Image (click to enlarge)
Click to Enlarge Name: craziest pair ever.gif Size: 23 KB
Have I got something on my face, SOLDIER?
  • #1,340
  • Edited 9:42pm Oct 3, 2011 8:33pm | Edited 9:42pm
Quoting bumapatria
mla is right. Its a 2 way process.

How can someone teach another if the other doesn't want to learn - Anonymous.

So basically, you need to post your chart, and we can see what's good what's not so recommended whats a squished banana and wats not.


Of course, but in due course. Presently studying your strategies and set-ups in order to formulate a suitable trading system for myself, complete with defined parameters for entry, SL, TP and trailing stop, mainly for trading EU (and later on Silver as well), mostly during overlap of London and New York sessions (8.00 am to 12.00 pm - Canada EST Time).

For example today, despite paying apt attention to EUR USD movement, was unable to find even one single suitable set-up for trade. This starkly displays the need for more study and experience in order to be able to identify decent opportunities in all kinds of market environment.

BTW, sincerely thankful and grateful to you guys for excellent advice and coaching. Do hope that I too, will be able to contribute positively to this forum in the foreseeable future.
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