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14 Year Old Forex Trader's Lessons

  • #1,981
  • Edited 11:45am Oct 10, 2011 7:28am | Edited 11:45am
Quoting bumapatria
im good man, doing reall good stuff.

how bout you?
Aii. I'm fine. Just been too busy for FF lately. Been working on some robots for a client. Should be through this week.

One more thing, I see you're doing good with supply and demand zones. But be careful with your shorts. Don't ignore the message of the chart. You wouldn't want to be shorting that daily candle...at least not until 3636, then 3796. Also remember a supply or demand level decreases in strength the more times its been hit.

Look at the candle that made a bullish piercing 4 days ago, and consider today's candle nullifying the candle from 30th september. All the euro sold on the 30th september are being bought back.

Just my own simple opinion. In life, nothing is sure, and so is price action.
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Don't just beat the markets, leave bruises.
  • #1,982
  • Oct 10, 2011 7:31am Oct 10, 2011 7:31am
Quoting Motion
Aii. I'm fine. Just been too busy for FF lately. Been working on some robots for a client. Should be through this week.

One more thing, I see you're doing good with supply and demand zones. But be careful with your shorts. Don't ignore the message of the chart. You wouldn't want to be shorting that daily candle...at least not until 3636, then 3796. Also remember a supply or demand level decreases in strength the more times its been hit.

Look at the candle that made a bullish piercing 4 days ago, and consider today's candle nullifying the candle...
saw it all, thanks for the opinion and the chart.
Have I got something on my face, SOLDIER?
  • #1,983
  • Oct 10, 2011 7:35am Oct 10, 2011 7:35am
Quoting bumapatria
if i were u, which i certainly am not, i would nt. this is the cluster level aka accumulation. momentum could go either side. If you have taken ur side fair enough.

u got be stop loss so its tottaly fine to do tht

possible eli wave analysis. black waves are 1st analysis, red waves are 2nd.
Buma

Who was that, elliot who?

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #1,984
  • Oct 10, 2011 7:37am Oct 10, 2011 7:37am
Quoting mla
Buma

Who was that, elliot who?

mla
lol, i dont trade by it im basic on that crap. i look at other stuff. My stuff

u dont know?! Ralph Nelson Elliot.
Who made the gann fans and principles? W.D. Gann
Who made fibonacci ratios? Leonardo Pisanno Gibollo/ Leonardo Fibonacci.
Have I got something on my face, SOLDIER?
  • #1,985
  • Oct 10, 2011 7:43am Oct 10, 2011 7:43am
have fun with your trades guys hope they go the right way. i am off to london for a few days but i'll have blackberry with me and i will trade but its harder with the fone lol happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,986
  • Oct 10, 2011 7:45am Oct 10, 2011 7:45am
Quoting bumapatria
lol, i dont trade by it im basic on that crap. i look at other stuff. My stuff

u dont know?! Ralph Nelson Elliot.
Who made the gann fans and principles? W.D. Gann
Who made fibonacci ratios? Leonardo Pisanno Gibollo/ Leonardo Fibonacci.
I can see that you read my story (the girl with the beautiful ankles?) But you did not grasp it. Damn.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,987
  • Oct 10, 2011 7:52am Oct 10, 2011 7:52am
Quoting mla
I can see that you read my story (the girl with the beautiful ankles?) But you did not grasp it. Damn.

mla
yes i did.

to me this is no girl, cause the girl with beautiful ankles is the one in the picture.

but i admire ur passion.
Have I got something on my face, SOLDIER?
  • #1,988
  • Oct 10, 2011 7:54am Oct 10, 2011 7:54am
Quoting bumapatria
yes i did.

to me this is no girl, cause the girl with beautiful ankles is the one in the picture.

but i admire ur passion.
Did you tell that to Bill? Our mate.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,989
  • Oct 10, 2011 7:59am Oct 10, 2011 7:59am
whats that???? i am off very soon just getting bike fired up
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,990
  • Oct 10, 2011 8:00am Oct 10, 2011 8:00am
Quoting mla
Did you tell that to Bill? Our mate.

mla
tell what?
Have I got something on my face, SOLDIER?
  • #1,991
  • Oct 10, 2011 8:17am Oct 10, 2011 8:17am
Good night

mla
"The Heart is the hub of all dances; go there and chill out"
  • #1,992
  • Oct 10, 2011 8:36am Oct 10, 2011 8:36am
Quoting mla
Good night

mla
dude te;; what?!
Have I got something on my face, SOLDIER?
  • #1,993
  • Oct 10, 2011 11:48am Oct 10, 2011 11:48am
Bumapatria eurusd can go down? What do u think about it? what is return point? i appreciate your advice.
  • #1,994
  • Oct 10, 2011 11:50am Oct 10, 2011 11:50am
Copy from EurAnalysis thread:

Interesting day. As I may always say, I would normally not trade in days like these. But as fundamentals concern, there should not be more momentum pushing the pair higher. That's why I decided to take a suicide short.

Everyone in this thread knows what I mean by false hope. And that's what we're seeing today. I checked some fibs on the 4H chart, and it looks like a pin bar in the 1H (This is for you PT ). The chart below is self-explaining.

However, I'm not saying this is going to be a switch (right now) in the mid-term sentiment that's currently bullish. I think we need a little more scandal to see the bears coming back with strenght.

That's my view for the short-term, will come back later with more opinions

Pbh
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  • #1,995
  • Oct 10, 2011 12:25pm Oct 10, 2011 12:25pm
Me being the one to speak about black swans and possibilities, well, seems i have experienced the black swan for now, my position is net 100+ pips underwater.

here is what will determine my skill and my composure, due to my job i sometimes leave trades unattended, maybe i need to rethink that thought, much to analyze.

however, i am not to panic, i will attempt to salvage my position at due time when the market permits, and will post here my success or failure on this endeavor.

here is my plan, no panic still bullish reversal unconfirmed due to low liquidity, bank holidays. All news for the Euro are negative, but that could be both ways either the move can be faded or the market is stronger than expected.

in any event, i will await for clear waters and average my basis close to market price and attempt a quick escape on a retracement.
AVT INVENIAM VIAM AVT FACIAM
  • #1,996
  • Oct 10, 2011 12:29pm Oct 10, 2011 12:29pm
Quoting mla
Good night

mla
good night mla. Sleep well.
Those who say it cannot be done should not interrupt those who are doing it
  • #1,997
  • Oct 10, 2011 12:29pm Oct 10, 2011 12:29pm
Quoting the redlion

here is my plan, no panic still bullish reversal unconfirmed due to low liquidity, bank holidays. All news for the Euro are negative, but that could be both ways either the move can be faded or the market is stronger than expected.

in any event, i will await for clear waters and average my basis close to market price and attempt a quick escape on a retracement.
Good plan dude, hope you were not overleveraging

Pbh

EDIT: What happened to your stops? That's the lesson of the day my friend
  • #1,998
  • Oct 10, 2011 12:35pm Oct 10, 2011 12:35pm
Quoting the redlion
Me being the one to speak about black swans and possibilities, well, seems i have experienced the black swan for now, my position is net 100+ pips underwater.

here is what will determine my skill and my composure, due to my job i sometimes leave trades unattended, maybe i need to rethink that thought, much to analyze.

however, i am not to panic, i will attempt to salvage my position at due time when the market permits, and will post here my success or failure on this endeavor.

here is my plan, no panic still bullish reversal unconfirmed...
Red,

Based on the fact that banks and bond markets were closed today, you may very well get your recovery opportunity sooner than you expected.
Today was nothing more than games. Covering of many shorts and most retail bulls jumping on the bandwagon for a ride. It's a bubble.

It is obviously more complex than that and requires more thorough analysis but that's the basic explanation.

Today's equity rallys were based on the lemmings false hope and a delusional perception that everything is fixed.

I stayed on the side today but I am going to take this opportunity to open fresh short positions once my analysis gives me the all clear.

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #1,999
  • Oct 10, 2011 12:35pm Oct 10, 2011 12:35pm
i dont think stops are the lesson of the day.

i think arrogance, ego, pride and not paying attention to what the market was doing is the lesson of the day.

100% success rate over 6 months, got to my head.
to believe that the market is wrong or not recognize that there are times i must not trade. i think my bias clouded my objectivity of price movement.

if my attempt is not successful i will gladly take the loss, if a legitimate reversal is in place, i am in the wrong bus, However if this is one of those funny days, the market will show hand.

on must OBSERVE AND LISTEN not impose opinions or see optical illusions on the charts.
AVT INVENIAM VIAM AVT FACIAM
  • #2,000
  • Oct 10, 2011 12:54pm Oct 10, 2011 12:54pm
Quoting the redlion
i dont think stops are the lesson of the day.

i think arrogance, ego, pride and not paying attention to what the market was doing is the lesson of the day.

on must OBSERVE AND LISTEN not impose opinions or see optical illusions on the charts.
At least you are not this guy:

drtorque:

how I wish I could say I learned and this will be the last...

but at least I didnt short more. after the first round w this chick, I checked the chart again. I was in decisive... indicators say over bought, but its going up, should turn, doesnt make sense, I hear PT saying NO DAMN FUNDAMENTALS lol
but i didnt short, keep the the ammunition, get a fresh pair of eyes in the morning, go and do the chick... so I did
and Im proud

No offense torque, that was fun

Pbh
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