14 Year Old Forex Trader's Lessons | Page 207 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Journey Of An 18 Year Old FX Trader 16 replies

How old are you, trader? 54 replies

old trader but new learner 4 replies

Attachments: 14 Year Old Forex Trader's Lessons
Exit Attachments

14 Year Old Forex Trader's Lessons

  • #4,121
  • Nov 2, 2011 12:35pm Nov 2, 2011 12:35pm
i'm on Bumas side with this, i never do trailing stop losses normally you cannot get them close enough and secondly why give up a big gain.It is difficult to explain here and it is quite easy for me to sound contradicting. Normally when i get big gains it is because i am at the pc lol (contradiction) you get a feel of whats happening (ask mla) and just go with it. Tonight i will set up a trade with g/j for 40 pips and then sleep, BUT should i wake up and the trade is still on if it goes bad i'll get out BUT if it looks like in my opinion its going down big time i'll take the stop off.in july i had 6 100 plus moves i also missed a 180 move and a couple of 120 but ended up with 40 as i expect
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #4,122
  • Nov 2, 2011 12:38pm Nov 2, 2011 12:38pm
Hey man just started reading your forum and figured I would share my story with you. I too began trading at a young age (13) thought 3 months (yes I know) of demo was enough. Then I got a $40 live account which I then made a $600 account through deposits from college funds. Took the money to $1200 through the FXCM micro quiz show not trading itself (lost $100 in trading) but in the last few months before I closed that account I started to hit my prime and deleted all my indicators and traded with fibonacci ratios and support and resistance, made 2.5% of that huge account in one month, it was sweet. Recently I moved to trading Futures but still kept my hand in forex, been trading daily charts and have lost about $100 to date. Most of that was from prior indicator trading. When I moved to futures I lost a couple hundred but discovered some real secrets to trading without indicators, so far I'm holding ground. Sorry for the long intro but just want to sum up a few things:

1) keep at it but do take sanity breaks if things aren't going well
2) Never trust a indicator over pure price action or pivot points
3) Always keep a level head, step out of your body and imagine looking at yourself taking the trade, why are you taking it? Emotion? Super-man syndrome?
4) Trust your analysis over anything or anyone else
5) Treat trading as a business
6) Have fun, don't get stressed out because seriously its only money, money can be replaced, a young man who feels worthless is another story


I'm 16 now and still funded by my parents but my account is still afloat and not once have I blown another account, all through effective risk management (never more than 3% and wins are 1.5 times losses), my strategy is now up to about 60-90% wins and with bigger wins than losses. So for all of you who think he can't do it think again!

P.S. You've got a good head on your shoulders, it will serve you well in the upcoming years. If you ever want to contact me you can email me at [email protected] its good to have someone to relate too
  • #4,123
  • Nov 2, 2011 12:39pm Nov 2, 2011 12:39pm
Quoting billytt
i'm on Bumas side with this, i never do trailing stop losses normally you cannot get them close enough and secondly why give up a big gain.It is difficult to explain here and it is quite easy for me to sound contradicting. Normally when i get big gains it is because i am at the pc lol (contradiction) you get a feel of whats happening (ask mla) and just go with it. Tonight i will set up a trade with g/j for 40 pips and then sleep, BUT should i wake up and the trade is still on if it goes bad i'll get out BUT if it looks like in my opinion its going...
dont think of missing moves. if u caught that much, why care what u missed? after all u can only be crazy to catch all the pips in a range.

4 pips profit on long.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 pips profit.gif Size: 23 KB
Have I got something on my face, SOLDIER?
  • #4,124
  • Nov 2, 2011 12:43pm Nov 2, 2011 12:43pm
Quoting jaksasquatch
Hey man just started reading your forum and figured I would share my story with you. I too began trading at a young age (13) thought 3 months (yes I know) of demo was enough. Then I got a $40 live account which I then made a $600 account through deposits from college funds. Took the money to $1200 through the FXCM micro quiz show not trading itself (lost $100 in trading) but in the last few months before I closed that account I started to hit my prime and deleted all my indicators and traded with fibonacci ratios and support and resistance, made...
That kind of wisdom deserves a vouch, and welcome to the family bro. Pbh - Pedro is 14 like me. amazing at fundies, and you fibonacci dude 16, and me 14 Buma, glad to meet you. Goldman one of my sup demmentors, and he was here all the way after i blown account. i deeply owe this guy. mla, the dude who trades trendlines, and short term trades very nimble, an very wise with his age. Bakuli JR97 are new here, bakuli also nicce guy, jr97 i invited him here as a gann buddy and astrology buddy. billyt is my recreatinoal partner and always positive despite my constant scrutiny WE ARE ALL FAMILY. WE LOOK OUT FOR EACH OTHER.
blown an account of $400 due to lack of knowledge and enormous amount of stupidity.
i have learnt supply demand psycho levels, fibonacci, gann, astrology, price action.. phew... i got a lot in my toolbox. and all without indicators. they scare me.

glad to know anotehr guy who likes to draw over his chart

wisdom and ur reward 1 v
Have I got something on my face, SOLDIER?
  • #4,125
  • Nov 2, 2011 12:49pm Nov 2, 2011 12:49pm
Quoting billytt
i'm on Bumas side with this, i never do trailing stop losses normally you cannot get them close enough and secondly why give up a big gain.It is difficult to explain here and it is quite easy for me to sound contradicting. Normally when i get big gains it is because i am at the pc lol (contradiction) you get a feel of whats happening (ask mla) and just go with it. Tonight i will set up a trade with g/j for 40 pips and then sleep, BUT should i wake up and the trade is still on if it goes bad i'll get out BUT if it looks like in my opinion its going...
Thanks for your reply Billy. I understand your concerns about giving up a big gain usng the TSL but I find it useful for my strategy. I do use the tsl majority of the time and it works well for me, for my goals.
  • #4,126
  • Nov 2, 2011 12:51pm Nov 2, 2011 12:51pm
closed half, entered supply, if this closes bigger volume, all outers.


right now dark cloud cover. bears managed to have closing price on their side so far.
Attached Image (click to enlarge)
Click to Enlarge Name: closed half on long.gif Size: 23 KB
Have I got something on my face, SOLDIER?
  • #4,127
  • Nov 2, 2011 12:53pm Nov 2, 2011 12:53pm
closed out. +20.
Have I got something on my face, SOLDIER?
  • #4,128
  • Nov 2, 2011 12:54pm Nov 2, 2011 12:54pm
Buma my friend you read it wrong, i am more than happy with 40 pips 30 pips i'm happy anything less than 20 i would have to work for a living.i have never cursed when i have taken 40 pips when if i had hung around it might of been 150 ? because more often than not if i didnt take the 40 it would of retraced to a loss. but it is a good feeling when you do catch a big mover. i just wish i could do a £200 stake and go for 1 pip every day. it is only just lately that i 've started chatting in these sort of rooms mainly for a laugh plus learning new systems/ideas.Normally its running/gym doing up the house playing rugby and last thing at night set my trade/s
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #4,129
  • Nov 2, 2011 12:55pm Nov 2, 2011 12:55pm
Okay guys now that I'm initiated Let's get to trading, here is what I'm all about simple chart, trendlines, fibs, measured runs, wicks of candles, support and resistance, and crossing trendline. Look for convergence between these on a Daily basis. See a very nice one coming up around Nov 20 on EUR/GBP if it gets up there.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR GBP Daily.png Size: 48 KB
  • #4,130
  • Nov 2, 2011 12:56pm Nov 2, 2011 12:56pm
sold euro. tight stop of 20 pips and possible hit next to next demand and is 3rd elliot wave.
Attached Image (click to enlarge)
Click to Enlarge Name: sold euro.gif Size: 22 KB
Have I got something on my face, SOLDIER?
  • #4,131
  • Nov 2, 2011 12:57pm Nov 2, 2011 12:57pm
what a nice thread, Thank's to my brother Buma, who created this thread. That gimme inspiration and good contribution to my trading activity.

sorry I dont mind to show off with my post. hope you all learn well

http://i1117.photobucket.com/albums/...G/tripleEU.png

http://i1117.photobucket.com/albums/...DING/EUhit.png
TRADING IS SIMPLE BUT NOT EAZY
  • #4,132
  • Nov 2, 2011 12:57pm Nov 2, 2011 12:57pm
Quoting billytt
Buma my friend you read it wrong, i am more than happy with 40 pips 30 pips i'm happy anything less than 20 i would have to work for a living.i have never cursed when i have taken 40 pips when if i had hung around it might of been 150 ? because more often than not if i didnt take the 40 it would of retraced to a loss. but it is a good feeling when you do catch a big mover. i just wish i could do a £200 stake and go for 1 pip every day. it is only just lately that i 've started chatting in these sort of rooms mainly for a laugh plus learning new...
sorry billy i get you now!

1 pip is harder to make than 200 trust me.
and drawdown of spread is already larger so its riskier. lol hahha i would never do that.
Have I got something on my face, SOLDIER?
  • #4,133
  • Nov 2, 2011 12:58pm Nov 2, 2011 12:58pm
hey syndu watch out we are already in supply.
Have I got something on my face, SOLDIER?
  • #4,134
  • Nov 2, 2011 1:00pm Nov 2, 2011 1:00pm
elliot wave analysis on current situation.
Attached Image (click to enlarge)
Click to Enlarge Name: profits.gif Size: 31 KB
Have I got something on my face, SOLDIER?
  • #4,135
  • Nov 2, 2011 1:02pm Nov 2, 2011 1:02pm
Quoting jaksasquatch
Okay guys now that I'm initiated Let's get to trading, here is what I'm all about simple chart, trendlines, fibs, measured runs, wicks of candles, support and resistance, and crossing trendline. Look for convergence between these on a Daily basis. See a very nice one coming up around Nov 20 on EUR/GBP if it gets up there.

you like higher timeframes more i guess right?

i do too, but for entries, gotta go on lower ones for me
you can see more faster and more precise than entering on a daily candle. gauges too much info.
Have I got something on my face, SOLDIER?
  • #4,136
  • Nov 2, 2011 1:03pm Nov 2, 2011 1:03pm
i been doing this a long time, i know i said wish but thats one thing you should never do, desire yes. Should i ever do £200 a pip lol not i would still trade the same way. and secondly Bakuli you trade your way if trailing stop loss is good then use it , i can see where your going with it and it is good logic
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #4,137
  • Nov 2, 2011 1:04pm Nov 2, 2011 1:04pm
Quoting bumapatria
you like higher timeframes more i guess right?

i do too, but for entries, gotta go on lower ones for me
you can see more faster and more precise than entering on a daily candle. gauges too much info.
Not really, what I like to do is wait for a daily setup and then trade it when it gets close to there on say a 1h timeframe, so don't let the daily chart fool you, but I do go for 200 pips, but that is in forex. You have to remember I trade futures too and I take shorter profits on those, sometimes as little as 20 ticks, but that is on 1h, 15m, 5m, 2m charts
  • #4,138
  • Nov 2, 2011 1:05pm Nov 2, 2011 1:05pm
is that the corrective 1-2-3 elliot wave, i thought you slagged off elliot waves a while ago
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #4,139
  • Nov 2, 2011 1:05pm Nov 2, 2011 1:05pm
fast spike up. stopped out on both trades.
Have I got something on my face, SOLDIER?
  • #4,140
  • Nov 2, 2011 1:09pm Nov 2, 2011 1:09pm
yet another short.

this might be 3rd wave.
Attached Image (click to enlarge)
Click to Enlarge Name: yet another short.gif Size: 21 KB
Have I got something on my face, SOLDIER?
9 traders viewing now