Attachments: 14 Year Old Forex Trader's Lessons

14 Year Old Forex Trader's Lessons

#2,681
Oct 13, 2011 10:25pm Oct 13, 2011 10:25pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

Quoting mla

Disliked

Hey little Tiger.

This thread is good because is based on compassion, when traders are in the "hole", he/she founds easily help by others without prejudice and other sort of quality that there is not point mention here now.

That gives a strong foundation to the thread, and it will be grow in my view.

You have to be aware that the popularity will bring all sort of people trying to
discourage the real purpose of the thread, learning.

So you need to be aware of that and in many cases ruthless. They need to respect your rules. This is my advice.

Now...

Ignored

I am so glad to hear that from one of my old buddies, mla. yes, if this thread is in any stake of destruction i have the instict to block someone from doing so. Rules are on page 1. Nubcake was still in the boundaries lol. I didnt feel him destructive and he wasnt, hes contributing. People like you-know-who the fuck im talking bout are those kinda people who shouldnt even step foot here, for dudes who dont know its callisto. he stalks me everywhere lurks here, despite me blocking him... -.-. he was disruptive and gave him way too many chances on that, so i would not like that type of behaviour.

if any of you have any doubts or questions please pm me for anything personal, trading-related, etc, or post here. this is a family of great traders, newbie or not, 10v or not we are all great. numbers dont say much about a person

I hope you guys having good time here

Have I got something on my face, SOLDIER?

#2,682
Oct 13, 2011 10:29pm Oct 13, 2011 10:29pm

ntrprz
| Joined Sep 2011 | Status: Trader | 146 Posts

Quoting mla

Disliked

Now my experience from yesterday: I tried to scalp with the BollingerBar indicator, I was lost, I do not understand why you should enter trades based on its signals. Completely lost. As soon as I got rid of it, I started to breath again.

mla

Ignored

I use Bollinger bands, Don't think I have ever used the Bollinger bar. Basically the way I use it is to watch the price action, and see which half of the band the trade is in and the general direction of the pair. I use 1M, 5M, and 15M primarily, though I will check out the 1H and 4H occasionally just to check on longer term direction in the price action and trend lines.

So long as the trade is ranging, not in a major breakout where the indicator is worthless, short at the tops of bands, close or reduce at the bottoms. The reverse for long positions.

I like to use 1M with 5M for confirmation when I am rolling. I also use CCI as a confirmation indicator of overall direction. When you have a high CCI and top of a bollinger band that is generally decending, short. Close when CCI gets under -100 or when it hits the middle of the band or the bottom depending on the range of the band.

Hope that helps, that is my sniping style. If I have one go against me, rescue using the same rules, but be prepared to abandon if the trend on 1M and 5M are just riding the top or bottom of the indicator band.

#2,683
Edited 10:48pm Oct 13, 2011 10:34pm | Edited 10:48pm

mla
| Membership Revoked | Joined Aug 2011 | 2,325 Posts

Quoting ntrprz

Disliked

I use Bollinger bands, Don't think I have ever used the Bollinger bar. Basically the way I use it is to watch the price action, and see which half of the band the trade is in and the general direction of the pair. I use 1M, 5M, and 15M primarily, though I will check out the 1H and 4H occasionally just to check on longer term direction in the price action and trend lines.

So long as the trade is ranging, not in a major breakout where the indicator is worthless, short at the tops of bands, close or reduce at the bottoms. The reverse for long...

Ignored

Sorry Band. Good explanation. Thank you.

That was only my experience.

mla

"The Heart is the hub of all dances; go there and chill out"

#2,684
Oct 13, 2011 10:48pm Oct 13, 2011 10:48pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

Using Stochastics Not as Signals, but as Momentum indicator

Using specific indicators:

Stochastics

Stochastics is an oscillator used to describe overbought or oversold conditions of the market. basically the extremes, by calculating this formula: K = 100[(C - L14)/(H14 - L14)]

C = the most recent closing price
L14 = the low of the 14 previous trading sessions
H14 = the highest price traded during the same 14-day period.

%D = 3-period moving average of %K

I dont suggest the use of this indicator to use as SIGNALS, i solely believe a trader has enough feel that he can use his own head for signals

Here is few examples of how to use it not as signals, but possible change in trend
I have 2 examples of effective use of stochastics and suply and demand.

Oh yeah, and ill show u common BAD EROOR MISTAKES BY USING THIS AS SIGNALS TO TRADE!!!!
these are what i mean that indicators are much more flawed than the human mind to think.

I suggest spotting divergence only, not as signals to trade.
spot momentum. momentum is key to trading. Want price to go your direction? trade momentum.

I have stopped using this, i have gained a sort-of feel towards gold and euro, but for beginners, you can try it out AS MOMENTUM INDICATOR. DONT BUY when this does that , and sell as this does that.

LOOK AT PRICE iNDICATOR 2nd!!!

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Have I got something on my face, SOLDIER?

#2,685
Oct 13, 2011 10:57pm Oct 13, 2011 10:57pm

mla
| Membership Revoked | Joined Aug 2011 | 2,325 Posts

Bit of music

Inserted Video

mla

"The Heart is the hub of all dances; go there and chill out"

#2,686
Oct 13, 2011 11:13pm Oct 13, 2011 11:13pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

mla has a nickname!

For the time being im going to do my friday prayers, so take care of thread mla

Have I got something on my face, SOLDIER?

#2,687
Oct 13, 2011 11:44pm Oct 13, 2011 11:44pm

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

4 points off of silver, exited because all pairs in suply (gold, silver, eur/dollat)
and everything moving down at the moment.
euro in supply i am short.

gotta go now!

be back in an hour mla, ure not alone dont worry

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Have I got something on my face, SOLDIER?

#2,688
Oct 13, 2011 11:51pm Oct 13, 2011 11:51pm

mla
| Membership Revoked | Joined Aug 2011 | 2,325 Posts

Quoting bumapatria

Disliked

4 points off of silver, exited because all pairs in suply (gold, silver, eur/dollat)
and everything moving down at the moment.
euro in supply i am short.

gotta go now!

be back in an hour mla, ure not alone dont worry

Ignored

Take care.

mla

"The Heart is the hub of all dances; go there and chill out"

#2,689
Oct 14, 2011 12:26am Oct 14, 2011 12:26am

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

okay mla im back

progress on the euro short not much... lol.

Have I got something on my face, SOLDIER?

#2,690
Oct 14, 2011 12:27am Oct 14, 2011 12:27am

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

i have a stochastic divergence, and lets see where it goes with the hit off supply and the fibonacci time zone

Have I got something on my face, SOLDIER?

#2,691
Oct 14, 2011 12:36am Oct 14, 2011 12:36am

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

14 pips down but no matter.

Have I got something on my face, SOLDIER?

#2,692
Oct 14, 2011 12:45am Oct 14, 2011 12:45am

Pbh
| Joined Aug 2011 | Status: Trader | 1,118 Posts

Good morning to y'all

I wrote down my ideas and "bias" in a docx. here's the fundamental information. I got some charts with technical analysis in the document as well:

*For some reason I cannot attach the document, anyways...

FUNDAMENTAL ANALYSIS
Tomorrow important news:
G20 meetings – All day ------
7:30am USD Core Retail Sales m/m 0.2% 0.1% Good
7:30am USD Retail Sales m/m 0.5% 0.0% Good

Recent news:

“Revised EU Stress Test Would See 66 Banks Fail, Analysts Say” Bad
“EFSF's Regling says there is no risk of a downgrade for EFSF at moment” Good
“S&P Cuts Spain to AA-“ Bad
Almost forgot, no QE3 Bad

Short-term sentiment:
No-where, more likely to short.
Across the week, we have seen a beautiful (painful for most of us) gain in the EURUSD pair, as high as 450 pips, expect to see some profit taking, it’s Friday. As today we are having the G20 meetings, I think market could notice that we are still in a crisis, and that the problem is not solved yet (if will ever be)… I’m also having in mind that we certainly stopped getting lots of good expectations (new data) about the Euro Zone lately. So… perhaps a back-to-reality day is what we are going to see during the London session.
Mid-term sentiment:
No longer bullish
In my opinion, there’s no way the ECB can give the markets a larger fake hope based on something that we already know.
Long-term sentiment:
Bearish
It’s just a matter of time. If you’d like to read further analysis about the long-term fundamental sentiment, I suggest reading Piptrapper’s latest posts and analyses.

Pbh

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#2,693
Oct 14, 2011 1:12am Oct 14, 2011 1:12am

Pbh
| Joined Aug 2011 | Status: Trader | 1,118 Posts

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#2,694
Oct 14, 2011 1:15am Oct 14, 2011 1:15am

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

Quoting Pbh

Disliked

Good morning to y'all

I wrote down my ideas and "bias" in a docx. here's the fundamental information. I got some charts with technical analysis in the document as well:

*For some reason I cannot attach the document, anyways...

FUNDAMENTAL ANALYSIS
Tomorrow important news:
G20 meetings – All day ------
7:30am USD Core Retail Sales m/m 0.2% 0.1%...

Ignored

Forget G20 its all fucked. We are all great and short. im holding all shorts. Thanks for the awesome analysis, great ratios by putting good and bad, we are in high probs ratio, and on price, ive been looking at usd trends, and its all struggling to pass supply levels and and basically signs of bullish retreat.

i am short on cable and euro.
enough sniping for one week.. ima hold these maybe snipe later lol. assassin taking rest for now

Have I got something on my face, SOLDIER?

#2,695
Oct 14, 2011 1:24am Oct 14, 2011 1:24am

bumapatria
Joined Aug 2011 | Status: Trader | 10,724 Posts

Loss of momentum of bulls, end of session trap by bulls now taking profits, and people join in like sheep to sell anything counter-dollar and its like.

Short on cable, and euro, almost perfect except for snipe part lol.

loss of momentum can be looked at candles themselves, or your profit or loss. Look at acceleartion, deceleration, rejection (fast moving away from a high or low) and, impulse.

every momentum has an equal impulse.
that big bullish moves would be countered sooner or later.

do the math i was down net floating -50 now its -30, what does that indicate? loss of momentum.

Cable short, and fiber short.

i wanna thank pedro for having analysis of market cycle introduced to me

thanks dudester. another + to fibonacci time zones

Cable at breakeven

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