14 Year Old Forex Trader's Lessons

damn billy silver has been both like a good girl and a bitch to me lol. losses are huge, wins are huge

billy, pinbar on silver.

trading it with a short, forget the sup/dem zones, its bigger than it actually is sorry.

hi Billy,hope u ok, have u had a good week,I see ur into silver now?

weve been into silver ever since man

yes indeed Buma, silver is cool i really love the big moves it suits my style. its a pity i can only trade it with £2 minimum pip and 25 minimum buy/sell like i said i.m trying something new but i dont like the idea of throwing money away just in case i'm wrong lol

2 minimum per pip?
thats a lot for risk 0r reward.

my minimum is at .50 per point
that rescue was at 1.25 per point. risky but reward well enough

so whats ur style im still not accustomed to it exceppt ib's.

Hi tedge hope your fine, yes indeed i am now home now. Ive raked a few pips in this week and i am looking forward to next weeks trading a

yes indeed buma, i got a pin bar on the 3 hour chart. i am not in any trades at moment as its the last day but i might say what i (might ) trade if i did lol

yes indeed its £2 minimum per pip so if i traded silver it would cost me a minimum £50 and a 3 pip spread thats why i'm a bit reluctent to try new things lol

shooting star on gold. no rejection up, sort of bearish pierce off bulls. i am short.

so um market closes how many hours from now?

hyperthetical trade , this hour if silver were to drop a few pips and then go back up to 3218 i would go long.

Why The Euro Is Going Much Lower, Or The Mother Of All Compression Trades

I believe they are suggesting that due to the nationalization of Dexia which now rules out the triggering of the CDS (Credit Default Swap), and in conjunction with the fact that France now has to guarantee over €200 billion of bonds and securities, the spread between German and French bond yields is growing to the point that France is soon going to be slapped with a credit downgrade by the rating agencies. That could very well happen today after NY closes, but then it might not happen at all.
If it does happen, it's the perfect storm. Down goes the euro, hello risk-off sentiment and hello soaring USD index.
I have no problem placing a small short position on the Euro over the weekend just in case but I won't be doing it until close to NY close to make way for any possible last minute SP500 rally into the close.
It's a long shot but we've pretty much exhausted this rally anyway. Look at my attached daily chart.

1. Extreme reverse bearish divergence
2. Price has met major resistance at the bottom of an old channel that gave way to the big drop that started all this (This is confirmed by a pullback to it the next day before continuing down followed by another test of the channel bottom 4 days later which also met major resistance and failed. Now we're there again.)
3. This area also homes the 50% fibo level of the entire move down as well as the daily 50 ema
4. The 5.3.3 stochastics indicator is above 80 and turning down.
5. Price is currently in a major supply zone (Blue shaded area)

Even if it is not ready to head down yet, and it keeps going up, the technicals are still screaming exhaustion and a reversal. Therefore it may happen around 1.40 area which would invalidate the channel bottom reason and substitute the 50ema with the 200ema and also substitute the 50% fib with the 61.8% fib. If it does go that far up first, then the drop down will be even more probable and will happen with or without a French downgrade. How far it goes down without a French downgrade is something we will have to wait and see, but with a French downgrade from these levels, based on my probable projections from a technical perspective, we may see 1.24. From the 61.8 fib line my projections put it around 1.26

Like I said, it's a long shot for tonight but even without an event to drive it, a major correction will happen eventually.

.

in uk it'll be shut at 21-00 but the ctual trade room shuts 16-30

less than 2 hours from now 4:00pm NY time

Gold caught 80 lol.

i need these short term snipes. even though small, its how i trade, see a bearish psych level, short. oh look its nearing bull level, take profit

even better

is that 80 or .80 with gold,

1.40 and the 61.8 fib are almost the same level, the 1.40 has been key support in the past, should act as formidable resistance if we get there. I will be watching this level like a hawk next week and will be monkey short if PA is good.
Thats in my live account