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14 Year Old Forex Trader's Lessons

  • #1,441
  • Oct 4, 2011 10:20pm Oct 4, 2011 10:20pm
Quoting mla
People say many things. Trading is not a religion is a business.
You either agree with me or disagree, just make things right for you. That is all.

mla
Sure. of course, i will make things right for me
Have I got something on my face, SOLDIER?
  • #1,442
  • Oct 4, 2011 10:32pm Oct 4, 2011 10:32pm
Gold tight trailing stop hit, and good work today, no loss so far....yet...
my eu long... *gulp* is the one that may take the hit today.
but no fear, i have a sl, and calculated the net profit from the silver and gold trades
Attached Image (click to enlarge)
Click to Enlarge Name: gold and silver.JPG Size: 22 KB
Have I got something on my face, SOLDIER?
  • #1,443
  • Oct 4, 2011 10:36pm Oct 4, 2011 10:36pm
mla, what did u mean or imply by saying it is not a religion? im guessing theres more to it than the words itself?

can u go more in depth?
Have I got something on my face, SOLDIER?
  • #1,444
  • Oct 4, 2011 10:56pm Oct 4, 2011 10:56pm
MLA is right.

this is not about who is smarter or who is right

it's not a theological philosophical belief system.

IT IS BUSINESS, my goal is to make money, and that is that, if I am right how to make maximize my bottom line

if I am wrong how to minimize it or fight out that loss.

bottom line is account growth, each ADAPTS to the market differently, but the goal of all of us is the same. PROFIT

when you achieve your edge, you exploit it, but never get to far from basics.
if your account is down, you re evaluate your plan.

YOU ARE ONLY AS GOOD AS YOUR LAST TRADE. i dont care what other people tell themselves to ease the psychology, YOU MAKE A LOT OF MONEY, that is great, but the important part is KEEPING YOUR MONEY
AVT INVENIAM VIAM AVT FACIAM
  • #1,445
  • Oct 4, 2011 11:09pm Oct 4, 2011 11:09pm
Quoting the redlion
MLA is right.

this is not about who is smarter or who is right

it's not a theological philosophical belief system.

IT IS BUSINESS, my goal is to make money, and that is that, if I am right how to make maximize my bottom line

if I am wrong how to minimize it or fight out that loss.

bottom line is account growth, each ADAPTS to the market differently, but the goal of all of us is the same. PROFIT

when you achieve your edge, you exploit it, but never get to far from basics.
if your account is down, you re evaluate your plan.

YOU ARE ONLY AS...
agreed.
Have I got something on my face, SOLDIER?
  • #1,446
  • Oct 4, 2011 11:11pm Oct 4, 2011 11:11pm
Quoting bumapatria
mla, what did u mean or imply by saying it is not a religion? im guessing theres more to it than the words itself?

can u go more in depth?
What I mean is this: in life like in trading absolute truths does not exist, what is right for me in not necessary right for you. Becuase we have different perception based on our own experiences). That all.

Gain knowledge, like you are doing, (you have good people working with you), and based on that knowledge start to create your own edge,

I cannot or no one can do that for you, you need to input your creativity (energy, self ect..) in building your way of trading that relates to your personality. That is your edge.

That is way many people cannot make it in this business, because they think that they can borrow and edge from somewhere else without applying that creativity that is essential to make it.

Is more or less when you play soccer, I can tell you how to play, but if you do not get completely involved (physically and creatively), you would not understand and most importantly you would not have fun.

Also you need to decide what you want to get out of it, do you want to be and
analyst or do you want to be a trader. Because there are 2 completely different types, one makes money telling others many stories (and rarely make money trading) the other make money trading (if they are good at it).

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,447
  • Oct 4, 2011 11:14pm Oct 4, 2011 11:14pm
Quoting mla
What I mean is this: in life like in trading absolute truths does not exist, what is right for me in not necessary right for you. Becuase we have differen perception based on our own experiences). That all.

Gain knowledge, like you are doing, (you have good people working with you), and based on that knowledge start to create your own edge,

I cannot or no one can do that for you, you need to input your creativity (energy, self ect..) in building your way of trading that relates to your personality. That is your edge.

That is way many people...
thanks mla.

edge...


okay, we will see if i am an analyst, or a profitable trader in new year. I am hungry to go live soon. as long as i make this 'new' account balance up again, i will surely have the confidence.

One major flaw that i have is the ability to trade intraday, or off computer. Any tips on leaving a trade overnight?

i keep hearing people say if you have a fear, overcome it. So i want to be able to do so.

redlion on skype said: minimal risk exposure.
I think its best not OPENING a trade before sleeping, because one expects profit. EXPECTS. thats what i learnt.
so i guess, i'll avoid trades unattended
Have I got something on my face, SOLDIER?
  • #1,448
  • Oct 4, 2011 11:27pm Oct 4, 2011 11:27pm
Quoting bumapatria
....Any tips on leaving a trade overnight?

She may help you staying away from computer for a whole night:

http://www.flixya.com/files-photo/r/...ana1452990.jpg


Or her

http://fsb.zedge.net/content/5/7/1/0...871-5710-t.jpg


Or maybe her

http://www.islamicblog.co.in/wp-cont...girl-photo.jpg
The Thief of Wall Street
  • #1,449
  • Oct 4, 2011 11:28pm Oct 4, 2011 11:28pm
@Chicky,

lol...

i'll get insomnia again
Have I got something on my face, SOLDIER?
  • #1,450
  • Edited 11:56pm Oct 4, 2011 11:28pm | Edited 11:56pm
Quoting bumapatria
thanks mla.

edge...


okay, we will see if i am an analyst, or a profitable trader in new year. I am hungry to go live soon. as long as i make this 'new' account balance up again, i will surely have the confidence.

One major flaw that i have is the ability to trade intraday, or off computer. Any tips on leaving a trade overnight?
Do not think, for one moment that is going to be easy, because it will not be, be prepared.

Think about this: Why most of the people want to because a trader? Aston Martin, Paket Philippe, Maserati, Lamborghini, Moto Guzzi, appartment in Milan, Paris, London, long legs beautiful girls (like my friend, helping me for a beer).
Why? Because they have a big ego, and that same thing is going to make it difficult for you. The fact that you are aware of it, helps. But that guy there, is very though indeed.
That is why many time already I told you to stick to one instrument and one time frame, trade a couple month on demo and then go live if you double your capital, if you do not, do not go live because is going to be more difficult.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,451
  • Oct 5, 2011 12:02am Oct 5, 2011 12:02am
Quoting mla
Do not think, for one moment that is going to be easy, because it will not be, be prepared.

Think about this: Why most of the people want to because a trader? Aston Martin, Paket Philippe, Maserati, Lamborghini, Moto Guzzi, appartment in Milan, Paris, London, long legs beautiful girls (like my friend, helping me for a beer).
Why? Because they have a big ego, and that same thing is going to make it difficult for you. The fact that you are aware of it, helps. But that guy there is very though indeed.
That is why many time already I told...
thanks mla,
and i actually tripled the account. with proper mm strategy. I just made a silly mistake last night, and i learnt from it. I dont view trading as a means of getting a Pagani sportscar, or all the bimbettes we can have. Its testing myself as a human being.

We all want the profit, duh, but theres something beyond every loss and profit we make. Its the evolution of ourselves as people.

This is the ultimate test for me, and i have never given up on something in my life. I honestly never have. Some people say its a good time to quit, but i mean talk about girls... yeah u can finish the story. 1 girl.

I once had a streak of A's in all my classes, no more below a B+, and i got complacent and careless i started getting C's. I realized that it is hard to get back up, if you dont even try.

it was never the pair mla. I was comfortable. in all full terms. This is my zone. Gold silver, eur/usd. thats my edge. I traded crosses and i found myself sucking at them. traded the swiss franc, didnt get the feel. I mean, i got the feel of these 3 instruments. Its me.

i know how hard it is live, i have experienced it, but i know with what i learned and going to learn, i am going to be better than who i was before.




I really appreciate your effort in helping me and reminding become better, and to stay that way.

thanks mla, sincerely
Have I got something on my face, SOLDIER?
  • #1,452
  • Oct 5, 2011 12:11am Oct 5, 2011 12:11am
EU long, lets see if price action/bulls decide to take this higher, if not i have my stop loss at breakeven.

so now i can chill and eat my chicken noodles.

its long due dont you think for bears to take a rest?

so shorters, take extra attention, dont become overly confident about shorting the whole market

see price action/movement/fluctuation/momentum, motion, and analyze from there, not biased view.
Attached Image (click to enlarge)
Click to Enlarge Name: looks like i am right.gif Size: 24 KB
Have I got something on my face, SOLDIER?
  • #1,453
  • Oct 5, 2011 1:01am Oct 5, 2011 1:01am
closed out +11. bullish activity does not seem strong. Tables might turn again, im not taking any chances.
Have I got something on my face, SOLDIER?
  • #1,454
  • Oct 5, 2011 1:06am Oct 5, 2011 1:06am
Quoting bumapatria
closed out +11. bullish activity does not seem strong. Tables might turn again, im not taking any chances.
You never going broke taking profits.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,455
  • Oct 5, 2011 1:10am Oct 5, 2011 1:10am
i predict a little war for now against bulls and bears at this level. Clearing this level of supply would mean bulls are winning the battle if not the war. Sentimentally speaking, it would somehow attract more bulls into play, driving the bears back however if bears managed to keep this level steady, and strong, they basically told the bulls to fuck off, and that this is our zone.

Im trying to be aware of the risk if i held that long for longer, and entering the short at a less precise time is also another risk. Bulls lost momentum here. Lets see if they really drawback.
Attached Image (click to enlarge)
Click to Enlarge Name: let price decide.gif Size: 18 KB
Have I got something on my face, SOLDIER?
  • #1,456
  • Oct 5, 2011 1:11am Oct 5, 2011 1:11am
Quoting mla
You never going broke taking profits.

mla
is that a good thing or a bad thing?
lol, im getting mixed ideas about what you are saying.

I mean is it something you do as well?

can u explain?

lol i think im dumb
Have I got something on my face, SOLDIER?
  • #1,457
  • Oct 5, 2011 1:37am Oct 5, 2011 1:37am
Quoting bumapatria
is that a good thing or a bad thing?
lol, im getting mixed ideas about what you are saying.

I mean is it something you do as well?

can u explain?

lol i think im dumb
No you are not dumb, anxiety is also part of the game.
I mean you did well, you took money out of the table. That what is all about.

You can say, yes but I missed another 20 pips if I did not take that 11.
But that is not trading. Now you take your 11 pips, you pay yourself for what you did, you confidence slowly will grow, and you trades will be made out of emotions, you can still reenter if you wish, what is going to happen next, nobody knows, only the analysts.

mla

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,458
  • Oct 5, 2011 1:41am Oct 5, 2011 1:41am
Quoting mla
No you are not dumb, anxiety is also part of the game.
I mean you did well, you took money out of the table. That what is all about.

You can say, yes but I missed another 20 pips if I did not take that 11.
But that is not trading. Now you take your 11 pips, you pay yourself for what you did, you confidence slowly will grow, and you trades will be made out of emotions, you can still reenter if you wish, what is going to happen next, nobody knows, only the analysts.

mla

mla
i made a new rule, that if i have e.g.: long on gold 1700.30, and i took profits at 1702.50, i would not long again after i closed that trade.

Well its good to take that off. battling off right now bulls and bears in eu.

im buying gold now.
i think from my point of analysis i see eu going to really test that 1.3360 high, if not close above it and prove to bears that bulls are in control now for the time being.
Have I got something on my face, SOLDIER?
  • #1,459
  • Oct 5, 2011 1:47am Oct 5, 2011 1:47am
selling zone possibly eaten up if it closes on current high or higher.
bearish 61.8% is beaten as well if it does so. right now its major rejection if it makes a pinbar
Attached Image (click to enlarge)
Click to Enlarge Name: supply eaten up.gif Size: 16 KB
Have I got something on my face, SOLDIER?
  • #1,460
  • Oct 5, 2011 1:52am Oct 5, 2011 1:52am
heres maybe a clearer view on my ichimoku chart.
great now its a gravestone doji atm.
simply put, there is more demand than supply, so what does that tell you?


its a PA that wants to fool aroundd
its bear market, but euro is buying off for the day.

anyways, see the flat kumo below? strong support prediction.
Attached Image (click to enlarge)
Click to Enlarge Name: gravestone.gif Size: 24 KB
Have I got something on my face, SOLDIER?
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