14 Year Old Forex Trader's Lessons

BTw if wave 5 doesnt clear wave 3 highs its a bull truncation aka short signal.

4 sell orders on euro usd 60+ pips.


closed all lower sells, closed half of higher sell, left it running at BE stop.

looking to lock this trade later.

1% equity gain.

live trade. screw demo, i wont learn that way.

The 4 sell orders: 2 were executed same level at the middle, and one lower one, one is the higher one.



left this one at BE

closed all in euro total pip gain = 82 pips.

27+16+15+19+05 = 82.

yes it has 5 orders, another hidden one not on the chart.. spooky....
not updated chart. cant print chart every 5 minutes. needs total focus.

for doubters:
all 0.01 micro lots therefor example $1.00 equals 10 pips

ADD: wrong pic here is the right pic

Hi everyone greetings from london from blackberry. I been watching fireworks from hotel window and they remind me of bumas charts. Rockets shooting every where then crashing no pun intended. I been playing with g/u on 3 min time frame I have mla to thank for that with .5 pip lot but I'm waiting for the big ones to go in. Mla when I get back home I'll ping you with my 3 min trading I think you'll be interested. Its difficult to talk with blackberry. Take care all happy trading happy days

Morning 0.01 x 10 = 0.1 not 1 just thought I'd mention it lol

Good Euro morning everyone.
In approx one hour, London will open for trading and I must admit I really don't know what's going to happen to our favorite pair today. I believe it mostly depends on the economic news that is due to be released later this euro morning.

Here is what we are expecting today... (All times are in GMT)

09:30 EZ Sentix Investor Confidence exp @ -19.7 vs -18.5 previously
10:00 EZ Retail Sales m/m exp @ 0.0% vs -0.3% previously.
11:00 German Industrial Production exp @ -0.7% vs -1.0% previously.

The sentiment is already bearish so if these numbers do not meet expectation, then the direction is definitely to the downside. This mean I will have to settle for a dwarfed right shoulder

On the political front we are still in bad shape.

1. The EFSF box is still empty and nobody wants to put anything in it; not even promises. The only promises it contains are the ones from EZ countries who will eventually need to borrow from it.

2. Beslusconi is facing some very difficult times. He is under some serious pressure to get his government's fiscal house in order. In the meantime, Italian bond yields are soaring above 6% approaching the 7% taboo area very fast. How do you spell contagion?

3. Greece may now have overcome the risk of imminent bankruptcy, but its problems are very far from over. The New Democracy party is more likely to play ball now that G-Pap is stepping aside but in the end the budget reforms required by the latest EU bailout have yet to be passed. Yes, they are expected to pass now, but politics is a funny business and I wouldn't be counting my lamb chops until they are on my fork.

Well, let's see how it all unfolds. In the time it has taken me to write this post, the EUR/USD has fallen 50 pips. Certainly not a good start for the single currency, but the day is still young.

Safe trading all.

ADD: How do you spell desperation?
According to German economy minister, could hold German referendum on giving more power to EU

.

closed chf short +7 pips not much action.

couldve been very very big winner but correlation says no, PA says no for time being so its a no.


now my eyes are set on gbp

sending chf scout sell. if stop loss is hit profit from 7 pips on chf by 0.5 pip. no worries now.

should have held.

target at gap close.

or not.

re-entry chf short stop loss +1
running profit +18

ADD: TP set to Open and looking for some daily low target aka gap close

Nice. the big question is how many pips are you risking for those 10 pippers?

good short right now in chf, now go close the gap baby.

40+ pips up in profit clsoed half

nice short! I have no idea what just happened, but dollar dropping hard.

Here's something weird. I've somewhat conditioned myself to wake up in the middle of the night when "things" are about to happen and I woke up about an hour ago and closed out my euro and pound shorts I opened at the sydney/tokyo open. 100+ pips euro and 50+ pips pound. Caught the very bottom and saw signs to exit and possibly reverse. I didn't reverse but glad I at least got out of the shorts.

not more than initial winning position. MM wise, ill only lose 0.745% of equity.

500-600$ weekly for last month.Good but it can be better

Locking chf with a long

CHF lock buy at BE stop loss

pips locked 47

nice trade dude... four thumbs up.

Hedging right now.

selling chf and selling gbp usd on negative correlation so its a hedge believe it or not.


ADD: closed +1 too much compression and high wick indicates selling there, not here.