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14 Year Old Forex Trader's Lessons

  • #1,361
  • Oct 4, 2011 1:59am Oct 4, 2011 1:59am
i was caught out a bit with the e/u dropping, i new it would but i got my timing a bit wrong lol. I lost a few pips but hey ho. and a big thanks to Buma for talking about silver , i had a quick look at it last night/morning and picked up 50 pips when it rose niiiiice,i also lost a few pips on g/u but that goes with my trading way. happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,362
  • Oct 4, 2011 1:59am Oct 4, 2011 1:59am
Good day everyone.
My shorts are now sitting at approx 1150 pips profit... looking for much more.

Buma and mla,
Thought I would post my latest H1 charts so you can see what I am doing.
For a more detailed explanation, just visit my thread.
Happy trading

.
Attached Image(s) (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #1,363
  • Oct 4, 2011 2:07am Oct 4, 2011 2:07am
Eurozone delays decision on next Greek payout

Another bad day for the markets.
Another good day for the Euro bears.


.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,364
  • Oct 4, 2011 2:09am Oct 4, 2011 2:09am
Morning from uk Pip, are you trading for real and using proper stakes not micro lots ( if thats what they are called) . Well done what ever your doing
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,365
  • Oct 4, 2011 2:09am Oct 4, 2011 2:09am
Quoting PipTrapper
Good day everyone.
My shorts are now sitting at approx 1150 pips profit... looking for much more.

Buma and mla,
Thought I would post my latest H1 charts so you can see what I am doing.
For a more detailed explanation, just visit my thread.
Happy trading

.
sweet baby...

damn.. 1000 pips. that classifies as a swing trade no?
Nice man keep it up.

I see u have a sell limit. You have a prediction that price would move around there?

Now, ill manage gold and silver profits
Have I got something on my face, SOLDIER?
  • #1,366
  • Oct 4, 2011 2:10am Oct 4, 2011 2:10am
ooops Piptrapper it should of been
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,367
  • Oct 4, 2011 2:16am Oct 4, 2011 2:16am
Quoting PipTrapper
Good day everyone.
My shorts are now sitting at approx 1150 pips profit... looking for much more.

Buma and mla,
Thought I would post my latest H1 charts so you can see what I am doing.
For a more detailed explanation, just visit my thread.
Happy trading

.
That is fantastic, mate you deserve it.

Myself in the last 6 days I made a return of 47.9% of my capital. Never did it before and not luck was involved. I have to confess that I have been working very hard, let say 12 hours a day.

Yesterday she was all over the place, I was focused and going both way with her. When I switched off at 12.30 am my time my adrenaline was running high, in my half sleep I was still entering trades in both directions, slept not very nice. Today I am f... up, not good for anything.
In one hour I am off.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,368
  • Oct 4, 2011 2:17am Oct 4, 2011 2:17am
well done Buma and good morning. i thought you wasn't live trading until next year
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,369
  • Oct 4, 2011 2:28am Oct 4, 2011 2:28am
Quoting billytt
well done Buma and good morning. i thought you wasn't live trading until next year
well if you READ the post you'd know im not trading live yet.

Im expecting from a $400 deposit for it to grow at least 10% every 2 weeks.
Have I got something on my face, SOLDIER?
  • #1,370
  • Oct 4, 2011 2:36am Oct 4, 2011 2:36am
Quoting billytt
Morning from uk Pip, are you trading for real and using proper stakes not micro lots ( if thats what they are called) . Well done what ever your doing
Yes Billy, Full standard lots and multiple lots per position.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,371
  • Oct 4, 2011 2:39am Oct 4, 2011 2:39am
Quoting bumapatria
sweet baby...

damn.. 1000 pips. that classifies as a swing trade no?
Nice man keep it up.

I see u have a sell limit. You have a prediction that price would move around there?

Now, ill manage gold and silver profits
Yes Buma, that sell limit order was yesterday's projection. Now I am not sure anymore. However one thing I am sure of if that I will not open another short until we get a correction. I don't do breakout trades for position (swing) trading. Only scalping which I have not been doing for a while now. I prefer a more relaxed low maintenance approach
Those who say it cannot be done should not interrupt those who are doing it
  • #1,372
  • Oct 4, 2011 2:41am Oct 4, 2011 2:41am
sorry, i misunderstood, because you mention 300 i assume it was real money because of the small amount. i know demo accounts normally give you 25000 or ridiculous amounts to play with and its easy to amass fortunes with demos. i use relative small amounts to live trade with ie it is now £2 minimum but i can tell you i have traded at £19 per pip its not for the screamish, good luck when it happens
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,373
  • Oct 4, 2011 2:44am Oct 4, 2011 2:44am
Quoting mla
That is fantastic, mate you deserve it.

Myself in the last 6 days I made a return of 47.9% of my capital. Never did it before and not luck was involved. I have to confess that I have been working very hard, let say 12 hours a day.

Yesterday she was all over the place, I was focused and going both way with her. When I switched off at 12.30 am my time my adrenaline was running high, in my half sleep I was still entering trades in both directions, slept not very nice. Today I am f... up, not good for anything.
In one hour I am off.

mla
Well done to you also mla

I know what you mean about half-sleeps. I used to go through that myself when I used to trade intraday. Now I just place my positions and when price moves away from the mean and reaches a new mean, I relax and let it ride.
Place enough positions and your gains become exponential. It's basically scaling in on large time frames.

Now go get some sleep.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,374
  • Oct 4, 2011 2:57am Oct 4, 2011 2:57am
Quoting PipTrapper
Well done to you also mla

I know what you mean about half-sleeps. I used to go through that myself when I used to trade intraday. Now I just place my positions and when price moves away from the mean and reaches a new mean, I relax and let it ride.
Place enough positions and your gains become exponential. It's basically scaling in on large time frames.

Now go get some sleep.
I will. I just have to work less. If I switch of at 22.00 I will be ok.

Myself I found difficult to make money in ranging market with position trading, that is only 30%, anyway probably my system was not good enough.

I am off now, I touch base with you all tomorrow.

Cheese
mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,375
  • Oct 4, 2011 3:05am Oct 4, 2011 3:05am
i might hit the eur/usd soon, after a corrective wave's swing high on a psychological level, then i shall move in.
Have I got something on my face, SOLDIER?
  • #1,376
  • Oct 4, 2011 3:09am Oct 4, 2011 3:09am
Quoting mla
I will. I just have to work less. If I switch of at 22.00 I will be ok.

Myself I found difficult to make money in ranging market with position trading, that is only 30%, anyway probably my system was not good enough.

I am off now, I touch base with you all tomorrow.

Cheese
mla
In a ranging market similar to what we saw in the euro between May and August, with the daily, weekly and monthly technicals and fundamentals already suggesting a move downwards despite the rate hikes from the ECB, I was selling the tops and taking partial profit on the bottoms.
It's all in the fundamentals mla. That's what rules the market. The technicals are just a representation of institutional trader (not just currencies) behavior, and they follow fundamentals while using technicals to determine best entry points.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,377
  • Oct 4, 2011 3:10am Oct 4, 2011 3:10am
Quoting bumapatria
i might hit the eur/usd soon, after a corrective wave's swing high on a psychological level, then i shall move in.
Good plan Buma
Congrats on your second vouch
Those who say it cannot be done should not interrupt those who are doing it
  • #1,378
  • Oct 4, 2011 3:11am Oct 4, 2011 3:11am
Quoting PipTrapper
In a ranging market similar to what we saw in the euro between May and August, with the daily, weekly and monthly technicals and fundamentals already suggesting a move downwards despite the rate hikes from the ECB, I was selling the tops and taking partial profit on the bottoms.
It's all in the fundamentals mla. That's what rules the market. The technicals are just a representation of institutional trader (not just currencies) behavior, and they follow fundamentals while using technicals to determine best entry points.
PT is true here. Fundamentals are why price fluctuates here and there. Charting is a visual way of understanding price, and its moves with indicators, sup/res, sup/dem, and all the other tools at our disposal. The interbank traders dont really use charts. They use fundamental knowledge, economic knowledge, and insider knowledge/and or rumors.
Have I got something on my face, SOLDIER?
  • #1,379
  • Oct 4, 2011 3:14am Oct 4, 2011 3:14am
Quoting PipTrapper
Good plan Buma
Congrats on your second vouch
yeah, GoldMan vouched for me

im sure he has a reason. I Pm'ed him to ask him why he did.
Redlion told me, and its GoldMan's turn



The thing about jumping in to trends already made is that there is a high possibility you have entered at the low, in which the counter-opposite of the trend is in retracement, while you are losing. So it is best to look out for retracements to enter a trend, if you are not in early.

Thats why im keeping my discipline to keep me away from eur/usd for now.
Have I got something on my face, SOLDIER?
  • #1,380
  • Oct 4, 2011 3:19am Oct 4, 2011 3:19am
Quoting bumapatria
PT is true here. Fundamentals are why price fluctuates here and there. Charting is a visual way of understanding price, and its moves with indicators, sup/res, sup/dem, and all the other tools at our disposal. The interbank traders dont really use charts. They use fundamental knowledge, economic knowledge, and insider knowledge/and or rumors.
Keep in mind though that in those instances where fundamentals suggest a flat (or non biased) direction, it is then that the swings are ruled more by the technicals. Such is usually the case in a tight ranging market on lower time frames.
Those who say it cannot be done should not interrupt those who are doing it
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