14 Year Old Forex Trader's Lessons

fuunny funny... LOL when i grow up... hehehe


nice chart nonetheless

Buma,

How would you change title of this thread on turning 15?

Scheize ure right! im going to be 15 in 2 months in february 3rd...

screw.

is there a tool to change the thread name?

okay confirmed south we got a nice wave down on crude. all timelines showing down swings.

double top-ish formation lets see for more followthrough

You should be able to edit the title, .
I didn't read every single page, but this has been a fascinating look at how you go about this. I wish you success!

thanks Ben wish u all the best too..

i wish i can but dont know how tho lol but i got 2 months for that to figure itself out

take care

hi buma all the best bud

merry christmas to u too billy

all the best to u too in the upcomign year

didnt update the pic GU shorts here

crude oil at 100 pips profit

FTSE 100 and DAX at work

fcuking hell yeah !!

Where is the bottom on Gbp?

i honestly cant figure out a place to go long for a lock

and the last. I admire your wanting to learn at such a young age, however, 14 is the age I plan to set my grandson in an account. I believe that losing is part of the learning curve; it certainly was for me as I struggled to learn the ropes.

This is what I do except when I'm scalping:

Target goals:
2% daily
10% weekly (basically same goal but it gives me an account balance for the next week)
50% monthly

Those are aggressive goals and I would skip the daily and do say 2% weekly for people new to trading. Forget the monthly goals except for maybe to keep an account of how many green days to red days you have and make it a goal to have more green than red.

The idea of goals are to set an agenda for the days you trade.

My entry points to a trade for me is based on the Fibonacci retracements, to some degree the channel, the the 62 & 13 sma but mainly the fib retr.

An example would be if I had a $1000 account.

1 micro pip (0.10) at the 23.6% retrace,
2 micro pips at the 38.2% retrace,
3 at the pivot, and
4 at the 50% retrace.

That equals to 1 pip total. Your total risk is 1%. You might get in only 2 or 3 positions but that's ok.

If you are in the green close it at the closest bottom. This works for either shorting or going long however I only trade the trend so for eur/usd I'm shorting--that's all.

Wish you well my friend.

thanks sir, for the wishes i am a trend AND a countertrend guy so yes i am confusing and pretty messed up LOL. yes i also dont really keep track monthly. im strict on weekly targets, and im evolving to a somewhat medium term swing trader of 2 day swings max.

take care, do well friend !

Regards

Buma

a dow trade i have atm



closed a lame copper short


and a gbp add on. quite the drop eh?

FTSE 100 scalp

almost hit target

supply entering again on gbp

stop hunt more than successful

close all shorts on gbp for +340 (on the pic forgot to lcose one more )

going long now

GU for +21 long closed