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14 Year Old Forex Trader's Lessons

  • #4,041
  • Nov 2, 2011 1:57am Nov 2, 2011 1:57am
i think ill let go of gold and stay within currencies. acting weirdly... and giving me most of my lossses. bye gold, till whenever ill see you again.
Have I got something on my face, SOLDIER?
  • #4,042
  • Nov 2, 2011 1:59am Nov 2, 2011 1:59am
Quoting mla
That is right, we need to go through the pain, if we dont, we will not learn.

There about a million systems out there, we need to find the one that more
reflects our personality mostly (copy, create, half copy half create, does not matter) and the apply it (greed, fear, emotion,desperations, happyness....)

mla

mla
Mla,

100% agree with you.

I think the trouble with some of us is that we look for perfection with our setups and this is where it leads one to failure. We have to learn to embrace our losses as they are a cost of doing business.

Regards
Bak
  • #4,043
  • Nov 2, 2011 2:02am Nov 2, 2011 2:02am
closed euro. 8+ pips.

new short on aud/usd. 0.02

one thing bad about gold is that i lose more there and the win/loss ratio is larger than currencies. i lost 0.05% in such small time, and in currencies 0.05% is liek 40 pips which is easy to handle. but gold is not my style i just found out.
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Have I got something on my face, SOLDIER?
  • #4,044
  • Nov 2, 2011 2:07am Nov 2, 2011 2:07am
Quoting Bakuli
Mla,

100% agree with you.

I think the trouble with some of us is that we look for perfection with our setups and this is where it leads one to failure. We have to learn to embrace our losses as they are a cost of doing business.

Regards
Bak
Also we have the tendency to not stick to our method after a few losses.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #4,045
  • Nov 2, 2011 2:09am Nov 2, 2011 2:09am
true demand is down there where rally begins. my tp is set for FE 61.8. heavy defense by bulls.

even better... -.- 20 pips underwater.
how am i gonna rescue this?

Have I got something on my face, SOLDIER?
  • #4,046
  • Nov 2, 2011 2:13am Nov 2, 2011 2:13am
implementing rescue. doubling down 2 extras.

loss of momentum with bulls this level could be new supply. or new demand..
Have I got something on my face, SOLDIER?
  • #4,047
  • Nov 2, 2011 2:27am Nov 2, 2011 2:27am
perhaps ill need to take all profits at 161.8
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Have I got something on my face, SOLDIER?
  • #4,048
  • Nov 2, 2011 2:33am Nov 2, 2011 2:33am
rescue almost complete.
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Have I got something on my face, SOLDIER?
  • #4,049
  • Nov 2, 2011 3:03am Nov 2, 2011 3:03am
Quoting bumapatria
rescue almost complete.
I hope you managed to rescue your "troops". From your chart, I can see the flow is going up and you are rescuing against it. You certainly need iron balls for that! Remember it is not necessary to rescue all failed trades. Sometimes it's easier to just take the initial loss, then wait for another set-up and try you luck with the market again.

Regards,
Bak
  • #4,050
  • Nov 2, 2011 3:08am Nov 2, 2011 3:08am
Quoting Bakuli
I hope you managed to rescue your "troops". From your chart, I can see the flow is going up and you are rescuing against it. You certainly need iron balls for that! Remember it is not necessary to rescue all failed trades. Sometimes it's easier to just take the initial loss, then wait for another set-up and try you luck with the market again.

Regards,
Bak
:thumbs up:

i think its going to be a swing trade. we got the nfp.. so..
Have I got something on my face, SOLDIER?
  • #4,051
  • Nov 2, 2011 3:15am Nov 2, 2011 3:15am
closed them all out.total loss today $-23.90.
Have I got something on my face, SOLDIER?
  • #4,052
  • Nov 2, 2011 3:37am Nov 2, 2011 3:37am
good morning all from uk,i wont say how i have done over night so i wont have to prove anything but i did close one position with a loss. Only trouble i have now is that my little girl wants to trade again so she is trying to get me off my laptop she just said something will go down but she wont say what lol. i did see her looking at e/u on her pc but obviously she doesnt have an account. Anyway people trade well i,m going to listen to some more of that guitar music, happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #4,053
  • Nov 2, 2011 3:43am Nov 2, 2011 3:43am
Quoting billytt
good morning all from uk,i wont say how i have done over night so i wont have to prove anything but i did close one position with a loss. Only trouble i have now is that my little girl wants to trade again so she is trying to get me off my laptop she just said something will go down but she wont say what lol. i did see her looking at e/u on her pc but obviously she doesnt have an account. Anyway people trade well i,m going to listen to some more of that guitar music, happy trading happy days
enjoy it billy
Have I got something on my face, SOLDIER?
  • #4,054
  • Nov 2, 2011 3:46am Nov 2, 2011 3:46am
i havent been nimble todat, i need to rethink entries mostly, and mm.
Have I got something on my face, SOLDIER?
  • #4,055
  • Nov 2, 2011 4:27am Nov 2, 2011 4:27am
Hi Buma, i cannot help you with entries but perhaps some of the other guys can. Perhaps you can back date some research and maybe find a way that suits you. or maybe you may have a gliche in your system meaning,,, sometimes when i traded i always went approx 15 -20 pips in the wrong direction before it retraced so now normally i work that into my trading before i actually trade. Speaking of pips i just took my girl to school and she's moaning to me all the way saying it went down it went down and she wants me to give her money lol. So i just looked at what she was looking at and i was right she was looking at e/u and it did go down about 10 -20 pips
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #4,056
  • Nov 2, 2011 4:42am Nov 2, 2011 4:42am
Quoting billytt
Hi Buma, i cannot help you with entries but perhaps some of the other guys can. Perhaps you can back date some research and maybe find a way that suits you. or maybe you may have a gliche in your system meaning,,, sometimes when i traded i always went approx 15 -20 pips in the wrong direction before it retraced so now normally i work that into my trading before i actually trade. Speaking of pips i just took my girl to school and she's moaning to me all the way saying it went down it went down and she wants me to give her money lol. So i just looked...
no man.. my system is great, my mindset still needs to work.
thats all i mean
after all i execute the trades not the system
Have I got something on my face, SOLDIER?
  • #4,057
  • Nov 2, 2011 4:43am Nov 2, 2011 4:43am
i hope u saw this...it might be a good chance to recover ur account...but this is gold pair...so never trust it 100% ...play with the minimum lot...
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Imagination rules the world ...
Selym Hyll Return This Year: na
  • #4,058
  • Nov 2, 2011 4:51am Nov 2, 2011 4:51am
Quoting selym_co
i hope u saw this...it might be a good chance to recover ur account...but this is gold pair...so never trust it 100% ...play with the minimum lot...
yup sold it on a mini lot. i saw an engulfing bearish making the level tad above a supply
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Have I got something on my face, SOLDIER?
  • #4,059
  • Nov 2, 2011 5:10am Nov 2, 2011 5:10am
closed gold +6. i dont wanna have contradictory positions. buy aud/usd
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Have I got something on my face, SOLDIER?
  • #4,060
  • Nov 2, 2011 5:14am Nov 2, 2011 5:14am
not liking the action. bulls gone, price accumulation of momentum possible 3rd elliot wave. im out +1.
Have I got something on my face, SOLDIER?
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