14 Year Old Forex Trader's Lessons

nice to see young traders here !

you remind me of ronald raygun .... started here at 16 or 17 (I think) and turned $200 to $250000 by 19 ..... insane way to trade but he did manage to pull it off successfully

hope you achieve whatever goals you set out for yourself as well.

best wishes to you.

that was dumb -15 stop caught. worst place to sell no pa config.

time to swtich to m15!

m5 too much noise right now

and damn he did that? wow
thanx fugly, i wish all the best to u too

finally some order flow!

closed at 6 pips

usd chf long

closed at 3 pips. not a lot of institutional buying, it usually rockets at timing, so price told me to bail.

so did i.
and im buying close to supply, so yes, there is a risk that price bounces back.

alas even if it jumps i can always catch a retrace

Good morning all.

It has certainly been an interesting week.
Loads and loads of headline news moving markets but all seem to have settled a bit now. It's not over yet but at least the market is taking a bit of a breath.

Italian bond yields have receded a bit but are still hovering above 6%
A replacement for Berlusconi has not yet been chosen, although Mario Monti seems to be in the running. The news on this is still developing and we will just have to wait and see what the final outcome is and how the market reacts to it.

Clearly, Mer-k-ozy, for the first time in a while are tight lipped. This is probably because they realize that they have significantly contributed to the current state with their mindless drivel. It's time to shut up now before they cause any more damage. Just let the market sort out itself.

On the charts, 1.3650 area has provided fairly strong resistance yesterday and has served very well many time in the past as strong resistance as well as support. It will prove difficult to break it to the upside today but not impossible. With the US Banks closed, the resulting lower volumes may very well allow for its break depending on how the European markets perform.

If price does manage to break upwards, I am projecting the daily R1 resistance level of 1.3680, which coincides with the 50% Fibo level of the move down from 1.3858 to 1.3482. The next level up is the 61.8% fibo level at 1.3715. Daily R2 resistance is just above that at 1.3750.

To the downside, major support comes in at 1.3580 which is the daily pivot line. I doubt very much we will see that level today. However, I do not possess a working crystal ball so I will leave it as a slim possibility. Below that we have daily S1 support at 1.3510, yesterday's low at 1.3482 and daily S2 support at 1.3410

In consideration of all the above, I have moved my sell limit order from 1.3690 to 1.3710
I may move it again depending on how the day develops, but even if price extends beyond that level, I am still comfortable shorting there.

Trade safe everyone.

.

sorry guys been gone for a while only 1 trade today

on usd chf 14 pips coz i was gone the whole day
and just set a TP and SL based on market trend and suupport levvles
i cant wait until i play these levels!!

its lame but profit is profit, and who the F--- would go put a huge target when he leaves the screen?

short all retests of supply for me!


and thankx PT for the update, i know how u love shorting eur usd, but me... i go long short as long as its low risk

nice trade, where hav u been alll day long? didnt see u around....

hey dude with 5v and only 100 posts

i was just busy studying
whether its the market or my school subjects, i was busy studying both, and only took a short before my jiujitsu class, and set reasonable TP.

lolz.. okey market go nonsense, I"m done now.

nonsense? i just made a nice scalp on oil!!

10 pips but when i looked at dailly its entering supply and realized its a close. probably just a stop hunt roll for buyers and then a big selloff.


so why did i long?

resistance retest plus bullish outside bar.
what better?

and the best way to use price action is with timing. after ur signal is formed, wait for the clock, 3-5 seconds left, do ur thing


ill show u on this chart

yes its very fast. spread is like 7 pips so i made actually 17 pips without spread.

how long did that take...? 5 mins?

i had no Drawdown except spread.
yes its a very speedy scalp.

here is one of my trades i didint share yet:

bigg swing on usdchf

earlier in the week, and i didnt post some due to its... extreme.

usdchf long earlier in the week

lets look at why i entered.

here is more insight if u missed the initial entry

understand price, know price.

for the chatroom here is my explanation of what the f--- just happened

price action at one of its best

10 pips on usd chf


she told me to buy, so i bought.

ok really, first of all basic charting techs 101, thats a pennant forming, but thats not the point. did u see how the range is squeezed and momentum bars are the bulls currently? did u see the bear bar then the doji then a bull? that means after the indecision buyers are buying, and that the bear bar is just buyers taking minor profits

Oil long closd for 5 pips. remembering the daily supply

i wish i could have recorded, because when i bought, the next candle open nailed buyers in 1 second. honestly, it spiked up 1 second or less.


SAME THING AS USD CHF. indecision - decision, reaction.

God it was difficult saving the chart while seeing it go.



it would be uttrely IMPOSSIBLE for me to long when it happens, i have a 7 pip spread on oil

entered crude buy once more closed for 14

Shorting timee ¿?