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14 Year Old Forex Trader's Lessons

  • #1,841
  • Oct 9, 2011 9:55am Oct 9, 2011 9:55am
Quoting aligater
not truth

you have no idea what an indiator is made for...

aligater
Its to indicate based on past results. Thats it. It does not indicate success or failure. The trader does that. lets keep this a healthy respectful argument, no out-of-the-bounds argument allowed at all.

So what do you think aligater...?
Have I got something on my face, SOLDIER?
  • #1,842
  • Oct 9, 2011 9:56am Oct 9, 2011 9:56am
Thanks Buma for the voucher and the comments on my profile page
I feel honored.
Now lets go trap those pips.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,843
  • Oct 9, 2011 9:57am Oct 9, 2011 9:57am
Quoting bumapatria
Its to indicate based on past results. Thats it. It does not indicate success or failure. The trader does that. lets keep this a healthy respectful argument, no out-of-the-bounds argument allowed at all.

So what do you think aligater...?

apologise to Goldman
im going to post what I think.
born to speculate
  • #1,844
  • Oct 9, 2011 9:59am Oct 9, 2011 9:59am
everything is past S and D is past , and so are indicators
therefor you have to use them for what they are made il show some examples later
born to speculate
  • #1,845
  • Oct 9, 2011 10:00am Oct 9, 2011 10:00am
Quoting PipTrapper
Thanks Buma for the voucher and the comments on my profile page
I feel honored.
Now lets go trap those pips.
You're welcome my friend, you deserved it and was way overdue.
They are my prey. I hunt them. I dont trap.
I hunt.

I dont machine gun fire, I am more of a sniper.

I hunt.
Have I got something on my face, SOLDIER?
  • #1,846
  • Oct 9, 2011 10:01am Oct 9, 2011 10:01am
Quoting aligater
not truth

you have no idea what an indiator is made for...

aligater
I think its good if one can trade without indicators,(nice clean uncluttered charts) and just read PA, that is THE only indicator in my book that matters,but hey everyone to there own.....one man's meat is another man's poison.
  • #1,847
  • Oct 9, 2011 10:04am Oct 9, 2011 10:04am
Quoting aligater
everything is past S and D is past , and so are indicators
therefor you have to use them for what they are made il show some examples later
Ok you got me dude

But here's the mistake most newbies do. They pay most of their due attention to the indicators instead of price movement itself, for indicators come second, price fluctuation and 'emotion of price' comes first. They just wait for that signal (most) instead of watching price. They get distracted way too easily this way. For most it gives too much a distraction and gives u a real bad detour that never gets u to your desired destination which is profit.
Have I got something on my face, SOLDIER?
  • #1,848
  • Oct 9, 2011 10:04am Oct 9, 2011 10:04am
Quoting aligater
not truth

you have no idea what an indiator is made for...

aligater
Maybe I have gap in my knowledge but I have come to conclusion that indicators are those that actually prevented me to look the right things.
Price first, christmas tree last.
Every good trader must be able to floor trade also but i think for most online trader it would be a disaster.
  • #1,849
  • Oct 9, 2011 10:08am Oct 9, 2011 10:08am
Quoting bumapatria
lol..

I feel ready to hit live. Might hit next month instead of new year.
Broker things im a newbie. I hit the next level, i am confident, not greedy, i feel ready.

Let's hunt.
Well that's your decision, but i advise you not to rush into anything.

One thing i learned is that is you plan to go live deposit the funds several weeks ahead of the intended start date. this removes some of the emotional attachment to the money.

I have accounts that I trade which I funded years ago and I feel very little emotion towards it.

Deposit the money--> forget that it even exists--> then begin trading with it.
  • #1,850
  • Oct 9, 2011 10:08am Oct 9, 2011 10:08am
Quoting Tedge UK
I think its good if one can trade without indicators,(nice clean uncluttered charts) and just read PA, that is THE only indicator in my book that matters,but hey everyone to there own.....one man's meat is another man's poison.
indicator means to me filtered pa...
so we are talking about the same thing ,but hey its not easy to put it on a chart the right way.
born to speculate
  • #1,851
  • Oct 9, 2011 10:09am Oct 9, 2011 10:09am
I sniped oil, silver and gold, but silver's got most precise entry. No indicators.

This is how i hunt.
My equipment:

Sniper: Me.
Rifle: Price Action.
Scope: Timeframes. Different shows different views on the prey.
Pod:
Spotter: S/D, Fibonacci extensions, gann fans, psycho levels of market.

All i need to do is pull the trigger at the right time to hunt. Wrong timing, your prey can turn you into the prey.
Attached Image (click to enlarge)
Click to Enlarge Name: hunting.gif Size: 18 KB
Have I got something on my face, SOLDIER?
  • #1,852
  • Oct 9, 2011 10:23am Oct 9, 2011 10:23am
Quoting bumapatria
I sniped oil, silver and gold, but silver's got most precise entry. No indicators.

This is how i hunt.
My equipment:

Sniper: Me.
Rifle: Price Action.
Scope: Timeframes. Different shows different views on the prey.
Pod:
Spotter: S/D, Fibonacci extensions, gann fans, psycho levels of market.

All i need to do is pull the trigger at the right time to hunt. Wrong timing, your prey can turn you into the prey.

Hmm Looks like you shot a bull and got a bear LOL
Those who say it cannot be done should not interrupt those who are doing it
  • #1,853
  • Oct 9, 2011 10:34am Oct 9, 2011 10:34am
Quoting PipTrapper
Hmm Looks like you shot a bull and got a bear LOL
haha...

those levels just show me techinally, but i trade with the psycho levels of market. They have some natural connection to the possible turning points of market, but i still have more confidence using basic psychology of people.

How did people make more money on the NFP release (the big hunterss)?
buy the euro to sell it at a higer price while retailers sold. Created a chain reaction. Obvious, obvious. Created a more chain when buyers bought when they were about to turn price around. They assault the market the big hunters. I hunt price with a single shot deadly enough to hunt.

I had a hunch it would go higher and make a trap. Im not into that "buy on green candle thats so massive" and red vice versa anymore. Those are more like those dudes that go "BANZAI!!!" not afraid to die.
I value my life, i take careful shots.
Have I got something on my face, SOLDIER?
  • #1,854
  • Oct 9, 2011 10:36am Oct 9, 2011 10:36am
Quoting bumapatria
haha...

those levels just show me techinally, but i trade with the psycho levels of market. They have some natural connection to the possible turning points of market, but i still have more confidence using basic psychology of people.

How did people make more money on the NFP release (the big hunterss)?
buy the euro to sell it at a higer price while retailers sold. Created a chain reaction. Obvious, obvious. Created a more chain when buyers bought when they were about to turn price around. They assault the market the big hunters. I hunt...
Excellent attitude Buma. Well done
Those who say it cannot be done should not interrupt those who are doing it
  • #1,855
  • Oct 9, 2011 10:43am Oct 9, 2011 10:43am
Quoting PipTrapper
Excellent attitude Buma. Well done
PT, the thing is, either you hunt as the winning pack of assault teams, the wolves, or you hunt as a lone ranger, a sniper, a lone wolf.

Im more of a lone wolf.
I could have a sniper team, and this is the team.

Have I got something on my face, SOLDIER?
  • #1,856
  • Oct 9, 2011 10:46am Oct 9, 2011 10:46am
Well, dudes, i have a question for advice on leverage once i go live. i have realized over-leveraging was good for me, but for now i want to cruise-snipe the prey, so is 1:10 good? my broker provides 1:400, 1:100, 1:75, 1:50, 1:25, 1:10, 1:1.

I had a nice chat with my dada and he says that anywhere between $500-$1000 is good.

Im saying somewhere about 1:10-1:25.

1:1 not just yet.
i cant perform rescues with no leverage.
Have I got something on my face, SOLDIER?
  • #1,857
  • Oct 9, 2011 11:02am Oct 9, 2011 11:02am
Quoting bumapatria
Well, dudes, i have a question for advice on leverage once i go live. i have realized over-leveraging was good for me, but for now i want to cruise-snipe the prey, so is 1:10 good? my broker provides 1:400, 1:100, 1:75, 1:50, 1:25, 1:10, 1:1.

I had a nice chat with my dada and he says that anywhere between $500-$1000 is good.

Im saying somewhere about 1:10-1:25.

1:1 not just yet.
i cant perform rescues with no leverage.
1:50 is what the CFTC/NFA regulations say is the maximum allowed in the USA and for USA citizens/residents.

Put it this way; Better to have it and not need it, than need it and not have it.

1:50 would be my recommendation.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,858
  • Oct 9, 2011 11:08am Oct 9, 2011 11:08am
Quoting PipTrapper
1:50 is what the CFTC/NFA regulations say is the maximum allowed in the USA and for USA citizens/residents.

Put it this way; Better to have it and not need it, than need it and not have it.

1:50 would be my recommendation.
thanks trapper,

i will wait for the others response as well.
i was thinking that as well

that sux for us dudes.. go change nationality, go offshore broker and go have fun..
Have I got something on my face, SOLDIER?
  • #1,859
  • Oct 9, 2011 11:45am Oct 9, 2011 11:45am
now its time to sleep for me.

get ready for tommorow.

Next week is all hunts, and im dedicating next week to her.
Have I got something on my face, SOLDIER?
  • #1,860
  • Oct 9, 2011 2:20pm Oct 9, 2011 2:20pm
you already know my take on it

with a $5,000 account i believe your position should be $5,000 units of currency at least on the initial scout. I believe over leveraging gives you little options.

if you enter a position of 40,000 units of currency with a 5,000 account that is 4.00 per pip movement, in case of being wrong you have little choice but to put a pre determined stop loss, and bite the bullet every time, when price goes against you.

you see it is extremely hard to be precise and accurate 100% of the time, because even when you think diminishing momentum is happening due to change in order flow, sometimes you have those BIG MONEY hunts, that push the price up to then drop big blocks of orders the other way.

i usually go in with 1:1 and as price continues to go my way i can enter another position and another depending on what the market gives me, if it doesnt act right i take my chips off the table and re entry when the market shows hand.

if you start off with 1,000 usd i recommend your positions to be 1,000 units of currency, if you are out of step, then you can rescue, or have the option to hold, depends on what the market shows you.

going in with 40,000 means out of step, you better bail quick before your account gets blown.

Safety first BUMA, don't rush to make your millions with a thousand dollars, perfect your trading style the money comes with position sizes and STEADY, CONSISTENT account PERCENTAGE GROWTH.

JOB NUMBER ONE IS PROTECT YOUR CAPITAL, if price goes against you 1000 pips in a black swan event, using low leverage, you can still salvage that position. Use your leverage to maximize your profits as the market continues to go your way.

the trick is to control your risk at all times
AVT INVENIAM VIAM AVT FACIAM
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