14 Year Old Forex Trader's Lessons

hey billy, do u average in?
coz i dont.

lol. except just now.

i am not sure of the term average in, but i could guess. i go off percentages and odds and how much i put in the trade and what happens if i lose

billy you see heavy correlation on gold, sivler, and eur.usd?

damn..

its adding positions to a winning current position.

thanks for explaination Buma. i indeed do but when i add trades i still go off the right criteria i dont just think hey ho my lucks in. i will also double up my winning trades as in compounding

i dont do that, ia actually add positions on losing winning position. as in if i still think i am in a winning direction, ill add another despite already a losing trade.

anyways here is my account growth of the day.
great day today.

from the legendary drop to $187 from $1000, now to $358.43
here is the proof:
91.4% profit today from the dreaded $187.
net profit from $300 deposit is at 31.1%
balance: $358.23

rescued losses in one day. Well, the thing about rescuing losses is the fact that it could always mount up to more losses

just to let you guys know, im only 65% on profit trades. its a matter of money management, and maximizing profits while minimizing loss.

it was all a mistake, and good to learn not to leave non-investment trades away from me.

im done trading, but may analyze and post here and there

goddamn it news... made me trade again.

the euro max range for today has been 114 pips

from open to high 58pips, open to low 57 pips

appears that the Fiber is awaiting for tomorrows ECB announcement to see clearer direction

my bias still short, so i sell the rallies.


by the way when i trade i trade in one direction, if i am bearish biased according to market conditions i will short rallies, i do not like going short and long because if you run a probability assessment, probability odds turn against you.

that being said however it will depend on the market if i am shown that i have the wrong bias then i will long on price weakness, but there is only two directions, i make it a point not to flip, if i find myself flipping more than ONCE, that means i am not sure therefore i should not trade. i do not long then short "oh crap i think i should long" this in my experience gets you killed in the markets.

either price will close above open or below, 50% probability on that one.

but i digress.... we are still trading below open, after yesterday closing 127 pips above said line.

buying pressure do not show such conviction upwards yet, i think Trichet my give us better direction either a relief rally or a sell off.

i do not usually post REAL TIME trades because i am constantly analyzing so it would be a distraction to post them when i could close them or add to them and it just slows me down. HOWEVER BUMA was talking to me on skype and he is my witness.

black circles is where i placed my short, red circles where i exited

Hi Redlion hope your ok

just sleepy lol

but i am fine


i met my monthly target yesterday, by lucky accident, today i made more profits

i am doing fine,, just cant type correctly today for some odd reason.

how are the markets treating you

today good but to tell you the truth i shouldn't be trading. Yesterday Buma mentioned gold and silver so i took a look at them and i've absolutely raked in lots of pips but i say to myself its probably luck lol (if you know what i mean). i should stick to my normal trading way

oi oi Tedge hows you.

Hi Bill,yh i'm cool dude I was just catching up with the thread.Got to go taking daughter to dance

lol me too, she is now learning street dancing she reckons she has accomplished ballet and tap lol

Hey Billy,fed up with this fx lark.....got any jobs going?

lol he looks like my pal simon

i think he'll get magazine caught in jacket when he turns lol

im awake.. finaly..

Rest In Peace,

Steve Jobs, founder of Apple,
a great man,
a great CEO,

passed away today.

I hope he is going to the good place in the next life.

-Reuters