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14 Year Old Forex Trader's Lessons

  • #2,201
  • Oct 12, 2011 3:34am Oct 12, 2011 3:34am
While we waiting:

"Trade Your Way to Financial Freedom" by Tharp.

Quote:
Nevertheless, my belief is that the largest profit percentages are made by short-term traders who really have their psychology together. I've seen short-term traders who could make as much as 50% or more per month (on small amounts of money such as a $50,000 account) when they were in tune with the market and themselves.

mLa
"The Heart is the hub of all dances; go there and chill out"
  • #2,202
  • Oct 12, 2011 3:36am Oct 12, 2011 3:36am
Quoting mla
While we waiting:

"Trade Your Way to Financial Freedom" by Tharp.

Quote:
Nevertheless, my belief is that the largest profit percentages are made by short-term traders who really have their psychology together. I've seen short-term traders who could make as much as 50% or more per month (on small amounts of money such as a $50,000 account) when they were in tune with the market and themselves.

mLa
I think this is very good quote
  • #2,203
  • Oct 12, 2011 3:43am Oct 12, 2011 3:43am
like goldman said, great quote

anyone care to short this?

lol, ill try to post charts that confirm shorting opps from here.
Have I got something on my face, SOLDIER?
  • #2,204
  • Oct 12, 2011 3:43am Oct 12, 2011 3:43am
Quoting hicomm
Buying EU @ 1.3642 with TP @1.3752. Price has been rejected twice in the last 8 hours @ 1.3565 & 1.3566 and overall trend @ the moment seems to be up Let's see how it goes.
TP 1.3752 hit.
  • #2,205
  • Oct 12, 2011 3:44am Oct 12, 2011 3:44am
Hi Red

Can you tell us why did you get in that position? Maybe we can initiate a good discussion. By the way I think you have balls showing your trade.

mLa
"The Heart is the hub of all dances; go there and chill out"
  • #2,206
  • Oct 12, 2011 3:45am Oct 12, 2011 3:45am
Quoting hicomm
TP 1.3752 hit.
Good on you do you have a pic?

mLa
"The Heart is the hub of all dances; go there and chill out"
  • #2,207
  • Oct 12, 2011 3:47am Oct 12, 2011 3:47am
golds off and selling for about 2 dollars, and dow is selling 20 points. silver selling 6 cents.

wait for the charts.
Have I got something on my face, SOLDIER?
  • #2,208
  • Oct 12, 2011 3:48am Oct 12, 2011 3:48am


some one is buying euros.... that is more than evident.

there is something going on, behind the scenes, maybe the CB's are coordinating something, this is unnatural price behavior, all this straight up lines

very deep pockets are have their foot prints all over this one since monday
AVT INVENIAM VIAM AVT FACIAM
  • #2,209
  • Oct 12, 2011 3:49am Oct 12, 2011 3:49am
Quoting bumapatria
like goldman said, great quote

anyone care to short this?

lol, ill try to post charts that confirm shorting opps from here.
For a scalp, maybe, but myself I am not in that mode.

For a short term trade I want to see, some kind of BTL break and then a test of the extreme high to test the strength of the bears.

mLa
"The Heart is the hub of all dances; go there and chill out"
  • #2,210
  • Oct 12, 2011 3:51am Oct 12, 2011 3:51am
you mean the scout

well 1.3687 lined up with previous price ceiling and looking at the daily seemed that a correction was on the making, combining with daily pivot R1 made sense with ATR range.

however i dont think this kind of volatility is natural
AVT INVENIAM VIAM AVT FACIAM
  • #2,211
  • Oct 12, 2011 3:53am Oct 12, 2011 3:53am
am short. looked at this from square of nine perspective and its 360 degrees from inital move at 3392.

spread beaten. lets see where it goes from here. people taking profits? and coincidentally at highs so maybe creating panic sell of overall momentum creating an impulse wave almost as large?

who am i kidding its a REVERSAL

lol hell no.


congrats to hicomm for actually getting something from this lol.
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #2,212
  • Oct 12, 2011 3:54am Oct 12, 2011 3:54am
Quoting the redlion


some one is buying euros.... that is more than evident.

there is something going on, behind the scenes, maybe the CB's are coordinating something, this is unnatural price behavior, all this straight up lines

very deep pockets are have their foot prints all over this one since monday
yes, and also the gbp in my view. It just rallied a 100 pip in 30 minutes then at 9:30 uk employment came out and it was terrible. Hardly any reaction on the chart, although it is moving down a little now.
  • #2,213
  • Oct 12, 2011 3:56am Oct 12, 2011 3:56am
Quoting the redlion


some one is buying euros.... that is more than evident.

there is something going on, behind the scenes, maybe the CB's are coordinating something, this is unnatural price behavior, all this straight up lines

very deep pockets are have their foot prints all over this one since monday
risk on insider trading that is legal perhaps?
ecb trying to put confidence in the euro?
Recapitalization of banks without notice to public?
Have I got something on my face, SOLDIER?
  • #2,214
  • Oct 12, 2011 3:59am Oct 12, 2011 3:59am
Quoting the redlion


some one is buying euros.... that is more than evident.

there is something going on, behind the scenes, maybe the CB's are coordinating something, this is unnatural price behavior, all this straight up lines

very deep pockets are have their foot prints all over this one since monday
That signified that the deal as been made, details not realised yet, but in their circle they already know.

This morning there was a big sell out, very unusual for the Asian period, she tricked me because I was waiting for a pull back towards the ema, , but when she pulled back to the ema she did not act as she wanted to go down again, so I did not get in and since then she has been making hh and hl, now to me is all clear, I was not nimble enough, good lesson for next time.

mLa
"The Heart is the hub of all dances; go there and chill out"
  • #2,215
  • Oct 12, 2011 4:00am Oct 12, 2011 4:00am
whatever it is,

"the market can stay irrational longer than we can stay solvent"

so, i am paying very close attention to this one.

if some one is buying and we are selling, ...........perhaps is not so good lol

i do not dream of being a liquidity provider lol,

to be honest i do not know how this one will play out.
AVT INVENIAM VIAM AVT FACIAM
  • #2,216
  • Oct 12, 2011 4:06am Oct 12, 2011 4:06am
hmm... caught me there.
floating -18.

at times like this we stay calm.

RUN FOR THE BUNKERS!!!

well, defintely someone or a select group does not want the euro down.

last time it hit 3790 price went down like a nuke for the bulls. perhaps this is just the dollar bulls putting price higher to sell it higher?

there a lot of theories here, but we need to look at the high probs with high ratios.
on a daily chart, there is no clear hit at demand, and as red says this is strange. 7 days of bullish candles. only 1 was bearish, and that was a harami with long wicks, not clear sign of bears. next supply on daily is 1.4000. all zeroes is probably biggest psycho level.
Have I got something on my face, SOLDIER?
  • #2,217
  • Oct 12, 2011 4:08am Oct 12, 2011 4:08am
oh shit. miscalculation.
the 360 is at 1.3960.
Have I got something on my face, SOLDIER?
  • #2,218
  • Oct 12, 2011 4:08am Oct 12, 2011 4:08am
something on bloomberg 5 min ago about the ECB have started loaning money to banks, i did not quite catch it, but even if i did i probably would it have understood it as im the first to admit that im useless on fundamentals!
  • #2,219
  • Oct 12, 2011 4:11am Oct 12, 2011 4:11am
im hedging.

long on a 0.05 lot till 3951. minimize short loss.
Have I got something on my face, SOLDIER?
  • #2,220
  • Oct 12, 2011 4:11am Oct 12, 2011 4:11am
No need to search logic behind this jump, just follow the move and don't try to predict the top. There is no reason to sell it yet.
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