14 Year Old Forex Trader's Lessons

actually dammit i closed on 3 pips profit.

won back 3 pips= $0.60.

Net Loss: $9.40.

Recovery needed 47 pips.

New plan

looking to TP eur usd at 30 pips profit

that should cover $6. + the 3 pips $0.60. $6.30.

i rebought aud looking to TP at 30 pips profit too. $6.00 possible gain.

total recovery plan possible reward: $12.60

Total possible net recovery: $2.60.

all levels are based on s/r possible flips, and once that is achieved my day will be over. those are my rules if i implement rescue. my day is over if i rescued. loss or profit i will call the day off

Bank what u can, dont let profit become loss.

eur moving too slow banked 2 pips.

closd aud +12


Total gain: $2 from aud and $0.80 ffrom eurusd.
$2.80

Current Net loss: $-7

still got many hours ahead still got many opportunities in the market.


pips needed for BE recovery: 35.

how? find 3 setups of possible 15 pips reward.
15 x 3 = 45 pips.

Buma, don't want to bother you with fundie information.
But just for general knowledge

http://gonzalolira.blogspot.com/2011...bt-crisis.html

This is a simple but deep explanation about the European situation.

Just so you know

Pbh

it better be easy coz i suck at fundies and u know that very well.

short aud usd CT trade minimized lot size to 0.01

Tg hit.

+9.

still in loss -$6.70

possible recovery 67 pips with 0.01

or 34.5 pips with 0.02

re-short aud usd

refired aud short and gained 5 pips.

PA stalling at low better close her up.

close to my TG but its fine.

profit is profit.

Net Loss now -$6.10

for recovery to BE now i need 30.5 pips
in 0.02

or 61 pips in 0.01

hard to achieve in slow market.

now need to be patient

Hi Buma,
Hope you have recovered all your losses with those nice moves since Frankfurt opened.

Regards
Bak

not yet. same amount

i need to give break to posting as well i think.

see ya bakuli ill chat later maybe

Take it easy, don't go chasing. Remember let it come to you, .
And yes, a break from posting will certainly help as your focus is just on too many things all at the same time. We'll chat later. I'll be out most of the day today, so maybe tomorrow.

Regards
Bak

i promise ill share trades once they are done.

long eur usd executed.

hi guys , hope all is good.I been scalping .i know most of the pairs are ranging but hey ho if i win i continue. i must say it is time consuming though so perhaps i should pile on the amount, trade less and have less possibility of losing lol. ooo just got another. see you later take care. ps whats it with the stars??? they are certainly going my way. tc

hello all,

I came across this thread a week ago and was surprised to see a 14 yr old learning to trade in FX.

First of all well done Buma, you have come quite far and I agree with everyone else, you have potential. I couldn't help but sign up with FF so that I can contribute my thoughts to this thread.

I starting trading FX seriously probably only 2 weeks ago, but I have vested interest in the markets via my equity holdings and my client's that I look after. I am more of a fundamentals trader, but I build some technicals, psychological levels and my general feel to trade the waves of the market. ie. chasing 30-100 pips per trade (scalping - i believe this is the trading lingo that I have to catch up on). I see myself as a rookie when it comes to technical trading though.

I will try to share my trading thoughts and actions on my interests EUR/USD, AUD/USD and maybe the DJIA, I just need to figure out how to explain my thought process.

So far I have been shorting EUR/USD at 1.3520 and trading the risk off mode.

good luck everyone.

thank u mate, cool i believe i need extra hands here sometimees!

great, come on board

stop to BE on this long.

longed due to cycle 70 bars mirror hit with old res. becomes new support, price action showed indecision then decision.

thats my queue.