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14 Year Old Forex Trader's Lessons

  • #2,941
  • Oct 15, 2011 5:43am Oct 15, 2011 5:43am
Quoting huskyboy
lots af activity in here


technical question; is it possible to change the amount of candles on a chart (Fxpro)? And i dont mean zooming in or out. Thanx
hm..

i know hanover has a custom-made indicator that can make custom timeframes like 3 hours, 1 and half, 2 mins etc.

amount of candles.... i dont think so.

i know a way to eliminate bull or bear candles lol, so u can only see one type haha, but besides that i dont think so husky
Have I got something on my face, SOLDIER?
  • #2,942
  • Oct 15, 2011 5:48am Oct 15, 2011 5:48am
i wasnt after proof lol. i was actually sort of making a point. I think you may be down on profit using your trading system but you say say you regained ??? was this using a different system or way?. i am just asking i am not trying to be offensive. The way i think and trade i leave nothing as certain ie i know that if i hit a resistance level it doesnt always rebound but sometimes breaks it and makes new trend. i been trying to get in touch with broker with my trading prices and hopefully in future i will show you my ideas and trades as i do make lots AND with no vouches lol. Roll on tomorrow/monday. Its my birthday sunday as well wayhay
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #2,943
  • Oct 15, 2011 5:59am Oct 15, 2011 5:59am
Quoting billytt
i wasnt after proof lol. i was actually sort of making a point. I think you may be down on profit using your trading system but you say say you regained ??? was this using a different system or way?. i am just asking i am not trying to be offensive. The way i think and trade i leave nothing as certain ie i know that if i hit a resistance level it doesnt always rebound but sometimes breaks it and makes new trend. i been trying to get in touch with broker with my trading prices and hopefully in future i will show you my ideas and trades as i do make...
dude... calm down. its not offensive.
system is fine, i am the holy grail, you are the holy grail, everyone is their own holy grail. sure mate, post some charts, soem decent analysis i would vouch u 5 times over ,


its not resistance/support, supply and demand, its not fundamentals, its our ability to analyze psychology of the market. we dont trade breakouts or bounces, those are just names billy.

HAPPY BIRTHDAY BILLY!
5th birthday!!! i mean... (billy whats ur age now?)

i wish u all the best in life, success always ,learn always, hunt for knowledge like a neverending hunt, i wish u good girls, good ducattis, i hope you have healthy life, and wish that God will bless wu with more prosperity
Have I got something on my face, SOLDIER?
  • #2,944
  • Oct 15, 2011 6:21am Oct 15, 2011 6:21am
To readers: So what is your timeframe?

Soon u will understand that trading h4 is as risky as hell, and h1 too. m30, m15, is still but lowered. m5, i believe is suited to retail traders such as us. I will show you first a hourly candle. And how it is formed. Im not cheating you its all at 15:00 open, close at 16:00.

will u really buy at h1 green candle?

which is the best buy signal on?

where do you get the best exit strategy on?

i want everyone's opinion based on my questions.

im not dumb askign YOU a question, I am asking YOU to answer

in m5 i see rejections all over the place and that is sign to short. and exit of ur long. would u see that in h1? yeah u will see ur buy going to loss yeah!!

tell me what you think.

H1, M30, M15, m5, m1 in respective order.

white space shows boundaries.
Attached Images
Have I got something on my face, SOLDIER?
  • #2,945
  • Oct 15, 2011 6:34am Oct 15, 2011 6:34am
Quoting bumapatria
To readers: So what is your timeframe?

Soon u will understand that trading h4 is as risky as hell, and h1 too. m30, m15, is still but lowered. m5, i believe is suited to retail traders such as us.


[/b]
C'mon buma you should be past this!
We all (should) know by now price action moves the same way on all timeframes
whether it be 1m or 1wk. Think of it as looking at a micro or macro picture of the same thing. To limit oneself to a certain timeframe(s) especially <1h is somewhat foolish and could possibly spell your demise in this game.

Every timeframe has a place in your repertoire, you just need to learn how to use them accordingly.
  • #2,946
  • Oct 15, 2011 6:34am Oct 15, 2011 6:34am
Quoting bumapatria
dude... calm down. its not offensive.
system is fine, i am the holy grail, you are the holy grail, everyone is their own holy grail. sure mate, post some charts, soem decent analysis i would vouch u 5 times over ,


its not resistance/support, supply and demand, its not fundamentals, its our ability to analyze psychology of the market. we dont trade breakouts or bounces, those are just names billy.

HAPPY BIRTHDAY BILLY!
5th birthday!!! i mean... (billy whats ur age now?)

i wish u all the best in life, success always...


mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,947
  • Oct 15, 2011 6:40am Oct 15, 2011 6:40am
Quoting T Bryant
C'mon buma you should be past this!
We all (should) know by now price action moves the same way on all timeframes
whether it be 1m or 1wk. Think of it as looking at a micro or macro picture of the same thing. To limit oneself to a certain timeframe(s) especially <1h is somewhat foolish and could possibly spell your demise in this game.

Every timeframe has a place in your repertoire, you just need to learn how to use them accordingly.
-.- oh shit.. lol.

i was talking not for recommednation t, i was asking what people trade, because i have this guy on skype, telling me he trades h4 for signals, i just want to show him that its not the exact way it is.



i wasnt asking for advice, i wasnt asking for recommednation haaha, i was asking what people trade with, coz i see people trading daily and above.

no one should limit oneselves to one tf of course.



t, read first next time
Have I got something on my face, SOLDIER?
  • #2,948
  • Oct 15, 2011 6:46am Oct 15, 2011 6:46am
Quoting bumapatria
-.- oh shit.. lol.

i was talking not for recommednation t, i was asking what people trade, because i have this guy on skype, telling me he trades h4 for signals, i just want to show him that its not the exact way it is.



i wasnt asking for advice, i wasnt asking for recommednation haaha, i was asking what people trade with, coz i see people trading daily and above.

no one should limit oneselves to one tf of course.



t, read first next time
DERP

Pardon my arrogance

Chart otw
  • #2,949
  • Oct 15, 2011 6:50am Oct 15, 2011 6:50am
Quoting T Bryant
DERP

Pardon my arrogance

Chart otw
No probs mate, many misunderstandings happen

okay chart on the way
Have I got something on my face, SOLDIER?
  • #2,950
  • Oct 15, 2011 7:01am Oct 15, 2011 7:01am
Quoting bumapatria
To readers: So what is your timeframe?

Soon u will understand that trading h4 is as risky as hell, and h1 too. m30, m15, is still but lowered. m5, i believe is suited to retail traders such as us. I will show you first a hourly candle. And how it is formed. Im not cheating you its all at 15:00 open, close at 16:00.

will u really buy at h1 green candle?

which is the best buy signal on?

where do you get the best exit strategy on?

i want everyone's opinion based on my questions.

im not dumb askign YOU a question, I am...
For me absolute truths does not exits, however:

In my experience (I am a self taught, tried all systems and timeframes), the time I entered (but not always) on 1h TM, the movement had already ended and then I had to hope that the direction had to continue to make profits, some time it did most of the time did not.

I think the reason is: Dip pocket traders in their own zone open and close their books most of the time in the same day. That is why I find it easily to trade on the 5tf, because I have the feeling that I travel with them.

I honestly think that you can make more money trading short term in forex,
position trading makes more sense in stock and futures.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,951
  • Oct 15, 2011 7:03am Oct 15, 2011 7:03am
There is nothing wrong with daily and 4hr time frames, have spent the past 2 years+ trading daily and 4hr time frames.

I dont understand why you use the term "risky" as if it meant you have to risk more of your account to trade these higher time frames. You simply lower your lot size accordingly.

A mistake a lot of people make is they enter a trade based on the daily chart, but "monitor" it on the 5 min, this is a recipie for disaster, as you will be subject to the emotions that all these intra day swings create.

During the summer I am busy on the farm, this year especially. I only had time to trade daily charts, and I was only looking at the markets for 15 min every night, but I still had the best trading run i ever had. Setting my orders and letting the market do its thing rather than trying to "manage" every trade.
  • #2,952
  • Oct 15, 2011 7:05am Oct 15, 2011 7:05am
Quoting mla
For me absolute truths does not exits, however:

In my experience (I am a self taught, tried all systems and timeframes), the time I entered (but not always) on 1h TM, the movement had already ended and then I had to hope that the direction had to continue to make profits, some time it did most of the time did not.

I think the reason is: Dip pocket traders in their own zone open and close their books most of the time in the same day. That is why I find it easily to trade on the 5tf, because I have the feeling that I travel with them.

I honestly...
I somehow share the same opinion as mla. I used to trade h1 with least knowledge so im already in shit before... we snipe right mla? same here i feel that im moving with price rather than ooh look a green candle on h1 lets buy! i see that in m5 it might already be a rejection off of a supply, or etc...


i though respectfully disagree about there are no absolute truths.
i think that the absolute truth in trading is that we want to make profit.

that is absolute.

others are variables that can change.

Have I got something on my face, SOLDIER?
  • #2,953
  • Oct 15, 2011 7:08am Oct 15, 2011 7:08am
Quoting highlander2
There is nothing wrong with daily and 4hr time frames, have spent the past 2 years+ trading daily and 4hr time frames.

I dont understand why you use the term "risky" as if it meant you have to risk more of your account to trade these higher time frames. You simply lower your lot size accordingly.

A mistake a lot of people make is they enter a trade based on the daily chart, but "monitor" it on the 5 min, this is a recipie for disaster, as you will be subject to the emotions that all these intra day swings create.

During the summer I am...
thanks highlander for your insight

I like your thoughts, and its proven with solid base of knowledge and facts. What i think i can conclude from all the conditional statements, is that the whole timeframe deal is subjective more than an objective sort of deal. Its personal preference.

Like highlander, he can play a small lot of 8.00 standard lots (its small for him) and he can withstand a black swan hit of 10,000 pips right john?



i got you dude its preference
Have I got something on my face, SOLDIER?
  • #2,954
  • Oct 15, 2011 7:29am Oct 15, 2011 7:29am
http://i54.tinypic.com/femozp.jpg

Red lines are stops
Green lines are entries
Blue is exit

Sorry i cant show you exact positions, i dont trade on an mt4 platform. But i love mt4's charting
1.5% risk per entry ~10 pip stop per position and roughly 10% total account gain.
  • #2,955
  • Oct 15, 2011 7:32am Oct 15, 2011 7:32am
Quoting mla

I honestly think that you can make more money trading short term in forex


mla
That's absolutely true, especially when you consider the power of compounding interest.
  • #2,956
  • Oct 15, 2011 7:38am Oct 15, 2011 7:38am
Quoting T Bryant
That's absolutely true, especially when you consider the power of compounding interest.
But also highlander2 has a point, he trade based on the time available and that makes sense to me as well.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,957
  • Oct 15, 2011 7:47am Oct 15, 2011 7:47am
Buma

I saw you having a go at the big guys on the "useless thread" what were you doing? Testing the power of the 10+V?







mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,958
  • Oct 15, 2011 7:49am Oct 15, 2011 7:49am
Quoting mla
But also highlander2 has a point, he trade based on the time available and that makes sense to me as well.

mla
I believe the saying goes "There are multiple ways to skin a cat"
  • #2,959
  • Oct 15, 2011 7:51am Oct 15, 2011 7:51am
Quoting highlander2
There is nothing wrong with daily and 4hr time frames, have spent the past 2 years+ trading daily and 4hr time frames.

I dont understand why you use the term "risky" as if it meant you have to risk more of your account to trade these higher time frames. You simply lower your lot size accordingly.

A mistake a lot of people make is they enter a trade based on the daily chart, but "monitor" it on the 5 min, this is a recipie for disaster, as you will be subject to the emotions that all these intra day swings create.

During the summer...
couldn't agree with you more H,the thought of looking at a 5m chart all day would make me spin,my acc has turned around from loosing to profit since using the longer t/f....I'm in a weekly trade this week aswell...less stress,more pips.Thats my take on it anyway
  • #2,960
  • Oct 15, 2011 7:57am Oct 15, 2011 7:57am
Quoting Tedge UK
couldn't agree with you more H,the thought of looking at a 5m chart all day would make me spin,my acc has turned around from loosing to profit since using the longer t/f....I'm in a weekly trade this week aswell...less stress,more pips.Thats my take on it anyway
Its personal preference tedge
Have I got something on my face, SOLDIER?
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