14 Year Old Forex Trader's Lessons

take it to 3687.
3700 wont or doesnt seem viable atm, or even in this week.

dudes im sleepy its 1 am my time...

good night to asia/pacific,

good afternoon to uk dudes

good morning to us dudes

Excellent. Who are you thinking of going with as far as brokers go? And how much starting capital will you be using?

same old one.

asian broker. euromaxfx.

not famous, not many reviews, but i rigorously tested that support dude like for 2 hours. good i can deposit and withdraw through sms, has a base in my country, making claims and any bad service a real test.
good honest broker so far.

fixed spread, 2 pips and last time out, i didnt know all this useful knowledge that is why i missed out a whole loada pips.

Yes I use fisher yur4ik indicator on a setting other than the default; and lower time frames scare the devil out of me-ain't got the heart for the fast paced movement. I appreciate ur analysis; could you kindly do ur analysis on the 4H and tell me what the take profit level might be cos I've got my eyes set on 1.0181

'Night Buma. Starting to look at adding a little USDJPY to my portfolio of interests tomorrow. Damn reliable looking chart. Interested on your thoughts.

@Hicomm, sure dued here

im sorry but its a buy on the canadian dollar for me. well me..
bears rejected over a day on demand level also expansion 100% level, i would have totally went long here.

Alryt man. Thanx a lot.

thanks ntrprz!
ima put ur chart first then go to bed!

um.. the yen.. about that. im guessing for you, you should trade the euro yen instead of the dollar yen or the pound yen.

the dollar/yen is to low liquidity and any big move can blow you off. i suggest trading the gbp/yen cross or the euro yen.

I will post these two to show u the kind of opps. u got trading them.
lol euro yen already in perfect low risk short. 85 pips for the risk of 15 pips? how does that sound? sell now, risk 15 for 85 pips. sounds heck of a good trade for me. for sake of it i will trade it myself as well

the true battle for supremacy on the dow. hell of a war with these two levels at work!

prepare to be amazed look at the dow now

Slovakia delays decision till thursday.

more delay, more trouble.
eurozone keeps doing this time and again, come up with a false-hope solution, and delays their misery, and averts attention elsewhere.

to us traders, this shows weakness. we exploit weakness, we kill it.

here are my shorts, for the time being im hit with insomnia ...

lets see what wellington says.

hey buma, i notice you are treating the crosses as legit pairs, dont forget they are synthetic.

the main majors are gbp/usd eur/usd aud/usd and usd/jpy usd/chf usd/cad

the only other true cross is the eur/jpy

eur/gbp is eur/usd vs gbp/usd

the gbp/jpy is gbp/usd vs usd/jpy

so my advice to you is when trading synthetic crosses, look at the parents (the majors) for clues on respective strength. they are not separately quoted they are synthetically made.

the USD is the most important currency in the world, strength of weakness of the USD will affect ALL pairs

Good morning to you all.

I had a good day yesterday (3 trades) +28 with one lot and 2 lot BE (long), +34 with one lot and 2 lot BE (short) and +86 (long).

With the last trade I entered @ 1.3584,(see arrow) was late for me and I place a target order at 1.3670 just 2 pips below the latest swing high and went to bed.

This morning I just found out that my target was reached.

To be honest yesterday I got a bit pissed off with some of the traders, because I was just trying to pass the notion that in trading to have a concept is nor wise.

Their response was only twisted towards "small TF Versus larger TF or everyone has his on style" kind of thing .

I had the sensation that mr ego was at play despite the fact that they got strongly hit the day before by their own bias.

I also send them a nice story "swimology" but I think they did not get the meaning of it. (Is about intelligence driven by the mind versus intelligence driven by the heart)

I guess some people just do not want to learn and as a result bears turned into chickens just once more.

I also find out that my participation at the threads is slowing down my sharpness in my trading, so I will limiting my post to a few, to monitor the development of my "little tiger", he has a lot to learn and as soon as he finds out, the better, and as an encouragement I offer him my second vouch, because he truly deserves it, mostly for his passion and alertness.

Your mate
mla

and regarding rescues, i want to go on record saying that rescues are not to be taken lightly as the risk exposure expands exponentially.

one must trade and treat each position with strategic importance, now when underwater there are 2 options, bite the bullet and fight another day.
or salvage the position within your threshold. if the position is sunk or against overall trend, then i think its only prudent to move on, however losing money for no reason or simply taking unnecessary losses is silly to me.
so if a position is simply dead in the waters, just cut your losses and fight another day as a rescue would be snowballing risk, one cannot be a fool and continue to throw good money after bad money.

a risk assessment and predetermined risk threshold and parameters need to be in place, and if the loss is significant that attempt to rectify is best not just simply damage the book, then a rescue is implemented.

i dont want you to get the wrong idea that, the entrance is of little importance and can always be rescued. so for the newbies thinking of rescues, be very careful.

@redlion, jeez dude, i remember, why do you think im trading euro yen?



done rescue of silver short
its sort of natural, and i dont do it on the same instrument, i do it on another.

@mla, good morning, good morning. u were missingn dudester... great traddes man! i love your analogies on the market. makes absolute sense,

im feling vouches fly around like oxygen in every day life. almost never-ending supply.

all the force i need to keep pushing harder to push myself to the limits. and over.

dow jones rejection eur jpy rejection..maybe?

im seeing barrage of bull soldiers pushing deep, but would they be able to close above?

thank you so much to mla, and john (highlander)

i thank you both for having the confidence in me, and it drives me to do much more. thank you guys..

ill visit your farm one day john,

mla i will have a taste of your cuisine