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14 Year Old Forex Trader's Lessons

  • #3,541
  • Oct 26, 2011 8:02am Oct 26, 2011 8:02am
Quoting aligater
thanks

dancing is another issue , becouse the dancers can change instantly before you know it , yet many get cought with a open trade on the false side, when you trend trade you have to dance with current situation , but thats only at certain high volatility times ,
so what would be the right reflection to follow?
--Brakeouts--


aligater
speaking of dancing my final half of gold is gone
i think supply is much weaker than the demand, and dance changed maybe.. i see current bull bar engulfing all above and im sending a buy scout to scout the current situation.

volume either says its just a spike up, or beginning of uptrned.

scout sent
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Have I got something on my face, SOLDIER?
  • #3,542
  • Oct 26, 2011 8:20am Oct 26, 2011 8:20am
euro usd spike up +30 pips gold dancing with it.

stop loss at BE, i wanna go study now... i need to do more geography today...
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Have I got something on my face, SOLDIER?
  • #3,543
  • Oct 26, 2011 8:26am Oct 26, 2011 8:26am
Reuters: Bundestag passes motion on EFSF.
Have I got something on my face, SOLDIER?
  • #3,544
  • Oct 26, 2011 8:28am Oct 26, 2011 8:28am
taking out now my trend strategy ,
range is over


aligater
born to speculate
  • #3,545
  • Oct 26, 2011 8:32am Oct 26, 2011 8:32am
Quoting aligater
taking out now my trend strategy ,
range is over


aligater

see this my dear
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born to speculate
  • #3,546
  • Oct 26, 2011 8:33am Oct 26, 2011 8:33am
go go go aligater go go...

show me ur trade as well

i love ur chart.. does she wanna go out some time?

gold supply from long time ago looks busted.
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Have I got something on my face, SOLDIER?
  • #3,547
  • Oct 26, 2011 8:43am Oct 26, 2011 8:43am
scout stopped out at BE.

so many volume spikes so far.

back to original plan of selling.

trade the spike, and trade the counter-spike.
Have I got something on my face, SOLDIER?
  • #3,548
  • Oct 26, 2011 8:56am Oct 26, 2011 8:56am
im off now, gotta go eat supper and sleep.

ADD: US HOME SALES 315k vs 300k PREVIOUS or forecast.. but its positive.
Have I got something on my face, SOLDIER?
  • #3,549
  • Oct 26, 2011 9:03am Oct 26, 2011 9:03am
the dance starts now
look @ calender


aligater
born to speculate
  • #3,550
  • Oct 26, 2011 9:08am Oct 26, 2011 9:08am
funny... i see gold buying... volume climax up spike.... im still holding my sell... with gold u gotta be patient. very very patient.

god i gotta eat now!!1
back later then...
not tired yet

geography quiz results: 90%
Have I got something on my face, SOLDIER?
  • #3,551
  • Oct 26, 2011 10:06am Oct 26, 2011 10:06am
back from dinner... gold still cant pierce the resistance just yet.

meaning i am still short.
Have I got something on my face, SOLDIER?
  • #3,552
  • Oct 26, 2011 10:12am Oct 26, 2011 10:12am
good things come to those who dont exit trades and change directions so many times that u end up losing it all, right now are just spikes.

in 30 mins i would like to see gold falling into the cycle line bullish, following with bearish reaction. at true heart i am a contrarian, long now is good for investors, but im still looking towards the downside for now.

30 mins to go... i can study and relax...
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Have I got something on my face, SOLDIER?
  • #3,553
  • Oct 26, 2011 10:39am Oct 26, 2011 10:39am
the steeper they are, the easier they fall. rising wedge on gold. -1000 points will be my queue to exit this trade.

-1000 would be a loss of 3% to equity or somewher there..
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  • #3,554
  • Oct 26, 2011 10:44am Oct 26, 2011 10:44am
Quoting bumapatria
good things come to those who dont exit trades and change directions so many times that u end up losing it all, right now are just spikes.

in 30 mins i would like to see gold falling into the cycle line bullish, following with bearish reaction. at true heart i am a contrarian, long now is good for investors, but im still looking towards the downside for now.

30 mins to go... i can study and relax...

Dont under estimate gold strength. Daily fractals been taken convincingly.
From what I see ..it it going to test 1754 area ( daily breakdown bar high/wide range hidden gap daily"wrbhg" bar) but my Apb chart tells me 1770 needs to be filled

Better to wait for proper confirmation to sell...minimum the take down of h1 fractal.
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  • #3,555
  • Oct 26, 2011 10:46am Oct 26, 2011 10:46am
yes of course myrza. im loading a rescue trade now.

cycle line, lets see where it goes.

ADD: lol fuck it, execution so slow it requotes coz gold moves really fast... hehe..
Have I got something on my face, SOLDIER?
  • #3,556
  • Oct 26, 2011 10:49am Oct 26, 2011 10:49am
besides, who shorts gold?

aquarians, and contrarians... and countertrenders... and bears... and...
Have I got something on my face, SOLDIER?
  • #3,557
  • Oct 26, 2011 10:54am Oct 26, 2011 10:54am
Buma,

regarding your applaus to Smartman. I wish him the best and I am happy he is making money. But money management is serious issue you need to pay attention to.

Let me introduce myself further. I am semi pro casino poker player. I play for two years. I studied university of economics and ended up with bachelors degree. I work as kind of an accountant in futures market.

All I do almost whole my life is money management. And I tell you, it is not something you should be messing with. Not only market, but people as well can be irrational very often. And FX market is such complex one, that noone knows all the forces which are moving it. Central banks may intervene, China may intervene, they may shoot Obama, whatever. Even if you are genious, your inteligence cannot compete panic of crowds or massive intervention of a giant. And such events cannot be predicted, as you are sane genious while they are insane crowd or regime. Thats why in all trading books is written some rule like: "risk 2% of your capital." Experience can be rough teacher. It makes you broke first and then you learn your lesson. You are learning a lot and I really like your attitude. Please, keep learning and dont overlook this issue.

Regards,

Tom
"I know one thing, that I know nothing." Sokrates
  • #3,558
  • Oct 26, 2011 10:59am Oct 26, 2011 10:59am
Quoting Tom_D_Trader
Buma,

regarding your applaus to Smartman. I wish him the best and I am happy he is making money. But money management is serious issue you need to pay attention to.

Let me introduce myself further. I am semi pro casino poker player. I play for two years. I studied university of economics and ended up with bachelors degree. I work as kind of an accountant in futures market.

All I do almost whole my life is money management. And I tell you, it is not something you should be messing with. Not only market, but people as well can be irrational very...
hey of course... of course.. i totally agree with you. many already told me this, i applied it to my trading style and found success wiht it. losses are low, and controlled, and the boss is me, not leverage. when leverage becomes boss that si another story.. redlion, mla, everyone pratically who was my mentor, told me MM comes first, capital protection comes first, and i thought: "they cant be all saying that and be wrong right?

right now i am underwater on gold for 700 points and its only taking out 3% of equity or less if i was using a standard lot which my capital CAN.... i woulda been taking a -$700 loss which is more than 40% of equiity.. so in a a way leverage is a gamble and more risk exposure.

i threw in a vouch for you Tom, you are wise in your advice and speech

hangout here sometime
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  • #3,559
  • Oct 26, 2011 11:04am Oct 26, 2011 11:04am
cycle well respected on gold.
shoulda shorted there...

i kinda went against my own rules that when my trade is stopped out on BE or trailing stop caught it, its time to think and re-analyze wtf is going on, not re-enter the same way. but anyways, more bullish activity than bears here, but lots of rejection to close higher. im holding still
on bigger tf's there is deceleration here, and lots of momentum gathering, aka accumulation and from my analysis we might see some selling. lots of sell signals in my head anyways its safe financially speaking for my equity
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Have I got something on my face, SOLDIER?
  • #3,560
  • Oct 26, 2011 11:28am Oct 26, 2011 11:28am
Quoting bumapatria
i threw in a vouch for you Tom, you are wise in your advice and speech

Yepeee, thank you for your vouch young sir.

Tom
"I know one thing, that I know nothing." Sokrates
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