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14 Year Old Forex Trader's Lessons

  • #5,481
  • Jan 10, 2012 9:56am Jan 10, 2012 9:56am
Quoting bumapatria
excuse me? whats with the impoliteness now? what bullshit?



if u are thinking of being impolite please leave. its counterproductive as it is MY thread.

if u arent sorry for misunderstanding but refrain from saying "your bullshit" as that is quite the offence. i dont need people who break peopel down. thank you.

Wow. Do I believe what I'm hearing. You say the 'f' word all the time. Just because you misspell it does not mean that is exactly what you want to convey. For you to feign offence is quite amazing.

You need to be honest. I think you think you know things and when you're exposed that you don't, you don't admit to it. I wasn't trying to test you at all. I just made an inquiry. You could have been honest and said '...I don't really know..." Go ahead and delude yourself. I'm not talking to you as you are a 14 year old because you don't act like one.

I won't bring this up anymore if you won't.
Taigen Profit This Month: na
  • #5,482
  • Jan 10, 2012 10:00am Jan 10, 2012 10:00am
Quoting Taigen
Wow. Do I believe what I'm hearing. You say the 'f' word all the time. Just because you misspell it does not mean that is exactly what you want to convey. For you to feign offence is quite amazing.

You need to be honest. I think you think you know things and when you're exposed that you don't, you don't admit to it. I wasn't trying to test you at all. I just made an inquiry. You could have been honest and said '...I don't really know..." Go ahead and delude yourself. I'm not talking to you as you are a 14 year old because you don't act...
as you wish.

we are at the end of this ... discussion.


okay now : how do you trade?

its an interview i give to every visitor so ... how do u trade taigen?
Have I got something on my face, SOLDIER?
  • #5,483
  • Jan 10, 2012 10:24am Jan 10, 2012 10:24am
Quoting bumapatria
as you wish.

we are at the end of this ... discussion.


okay now : how do you trade?

its an interview i give to every visitor so ... how do u trade taigen?
For the most part, I only trade EU. For the most part, I only trade with the trend (EU is at a downtrend so I'm shorting). For the most part, I position 1% of my account.

I break down my (for example 10 pips) positions in 4 parts which I call my 1-2-3-4 plan. I use mainly the fib and channel for positions starting at the 23% retrace with 1 pip. At the 38% retrace I position 2 pips and 3 pips at the 50%. I forth position I leave for the momentum of the market.

If the market goes against me say 100 pips (unusual but it does happen on occasion), I will do another position and another if I have to.

In this type of market I do not use stop losses. I don't need to. In the last year I have probably stopped out maybe 2 or 3 times.

In the last 4 months, I have been averaging about 50% increase per month.
Taigen Profit This Month: na
  • #5,484
  • Jan 10, 2012 10:51am Jan 10, 2012 10:51am
Quoting Taigen
For the most part, I only trade EU. For the most part, I only trade with the trend (EU is at a downtrend so I'm shorting). For the most part, I position 1% of my account.

I break down my (for example 10 pips) positions in 4 parts which I call my 1-2-3-4 plan. I use mainly the fib and channel for positions starting at the 23% retrace with 1 pip. At the 38% retrace I position 2 pips and 3 pips at the 50%. I forth position I leave for the momentum of the market.

If the market goes against me say 100 pips (unusual but it does happen on occasion),...
okay. so its averaging right? i dont do that too often though.. but ure a longer term trader i presume? if it works for u it wokrs i guess.

on my end tho i just wouldnt be betting that retraces work. just my end of the line though its kinda risky to accumulate positions jsut based on the concept again IN my perspective. i mean it works if the beggining of the swing doesnt breach but then again ud need good capital management and good control of the drawdown that ure having.

but its a cool concept and if u make profit - u make profit .
thats what it is. method is just a another way to call an entry or a happening. profit is what matters.

and can u post a chart of ur entries past or present to further explain ur technique?
Have I got something on my face, SOLDIER?
  • #5,485
  • Jan 10, 2012 10:53am Jan 10, 2012 10:53am
sell stop triggerde on crude - planning to take it to 61.8 or 1x1 line

whichever comes first.


one thing i experienced is 23.6 is one of the weakest levels when taking small swings, price will cluster at those levels consuming momentum of the swing before resuming south/north as presumed trading direction.
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Have I got something on my face, SOLDIER?
  • #5,486
  • Jan 10, 2012 10:56am Jan 10, 2012 10:56am
Quoting bumapatria
okay. so its averaging right? i dont do that too often though.. but ure a longer term trader i presume?
Yea, some call it cost averaging. It spreads the risk. I'm not really a long termer. I don't quite have the discipline for that yet. I have left so much money on table simply because I get out way too soon. Usually, once I get my 2% for the day, I'm out.
Taigen Profit This Month: na
  • #5,487
  • Jan 10, 2012 11:04am Jan 10, 2012 11:04am
Quoting Taigen
Yea, some call it cost averaging. It spreads the risk. I'm not really a long termer. I don't quite have the discipline for that yet. I have left so much money on table simply because I get out way too soon. Usually, once I get my 2% for the day, I'm out.
yah thats what its called thanks for the reminder.
--------------------------------------
more view on crude
the trendlines of usual PA movement is also coinciding with the 1x1 line therefore its a good target to be taking profits.


i wonder if it would be reached in 70 30m bars which is 35 hours at the intersection of those lines...

that would be nice

if u take the current trendline angle its maintaining its pretty steep and the steeper they are the easier they fall. (does not apply to eurousd )
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Have I got something on my face, SOLDIER?
  • #5,488
  • Jan 10, 2012 1:42pm Jan 10, 2012 1:42pm
it reached this squares target
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but not this one yet.
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nontheless closed the lower ones for +75

left upper running with profit stop.
Have I got something on my face, SOLDIER?
  • #5,489
  • Jan 10, 2012 2:01pm Jan 10, 2012 2:01pm
Quoting bumapatria
hey man from ur view why is CHF so strong overall?

and the peg was too devalue their currency agaisnt euro to help the europeans right?

whats the fundamental view on ur op on CHF ?

why is CHF so strong overall?
CHF is a safe play, strong demand currency bc we are in a time of crisis, & discovery that we all enjoy a flawed credit & banking system. Last time I looked, the Swissy the the ONLY currency which I can trade w value pegged to gold.

and the peg was too devalue their currency agaisnt euro to help the europeans right?
Exactly! & it worked so far. However, no one has been willing to sell there CHF in exchange for Euros bc they believe the floor cannot be maintained...maybe not in the long run, but I believe the SNB has the ability & the will to protect the 1.20 floor. Therefore, I plan to profit from their transparency...
As traders, we VERY RARELY get to use a support level that has been absolutely declared by the currency its' self. Therefore, if I place my bet under the 1.21 level to minimize risk (which is what this move is doing...taking profits by pushing out weak longs, then positioning for a massive push up catching most by surprise for the 1st 100-200 pips yielding HUGE returns quickly for the CB & informed. When was the last time a CB such as SNB made a declaration like that & didn't follow through???


whats the fundamental view on ur op on CHF
I have NONE! Only that I have been promised & proven that Francs will NOT exceed a value of more than 1.2.
If you;re looking for "fundamentals"...what is more fundamental than the controller of a currency stating a maximum value??
That certainly isn't "technical", is it?



Made 30 pips strong last night on this trade. Back in again now @ exact same level. Could go to 1.2070ish very quickly before rising, but we're getting ready to pop.

On the tech side...have a look at the simple chart I posted last night showing the distinct 3 drop areas before upward move. This is our 3rd on this fall.

Sleep well young man!
  • #5,490
  • Jan 10, 2012 2:03pm Jan 10, 2012 2:03pm
i guess oil funded my week lol



too much gain i think - but i think to unleverage from 1:3 to 1:1 is not an okay idea if im already doing well with 1:3. if i see a setup im new to or unsure off surely i will use 1:1

but here is data for this week

this is not public explorer - its not for perks at all. but i will share % returns.
Attached Image
Have I got something on my face, SOLDIER?
  • #5,491
  • Jan 10, 2012 2:06pm Jan 10, 2012 2:06pm
Quoting bigslice54
why is CHF so strong overall?
CHF is a safe play, strong demand currency bc we are in a time of crisis, & discovery that we all enjoy a flawed credit & banking system. Last time I looked, the Swissy the the ONLY currency which I can trade w value pegged to gold.

and the peg was too devalue their currency agaisnt euro to help the europeans right?
Exactly! & it worked so far. However, no one has been willing to sell there CHF in exchange for Euros bc they believe the floor cannot be maintained...maybe not in the long run, but I believe the...
hey thanks for the thorough response - truly appreciated

apparently i slept already in the mid afternoon coz of studying + trading at same time and i was doing a test as well so yeah... fell asleep.



take care
Have I got something on my face, SOLDIER?
  • #5,492
  • Jan 10, 2012 2:14pm Jan 10, 2012 2:14pm
and the peg was too devalue their currency against euro to help the europeans right?

This actually is quite a paradox...CHF is 1/4 weighted against gold value. If CHF is frozen at a max value against EURO, does that mean that gold is frozen as well for buyers holding EUROs? That means that the USD must continue to devalue so that the EURO & gold will be floated higher against a falling USD.

That means longs for Gold & high yielders AUD & NZD coming, & oil ....preparation for this can be seen on long term charts EUR/AUD & EUR/NZD.



All that said, I would love to hear understand someone's rationale for not profiting from this imposed floor. Twice already the SNB has backed up its' talk. Even "Mr Insider" said that the SNB would continue to defend the floor...just this week upon his exit.
We live in a world of measured risk...some of us do. @ 1.21 & below, what's the risk?????
  • #5,493
  • Edited 2:53pm Jan 10, 2012 2:27pm | Edited 2:53pm
Quoting bigslice54
and the peg was too devalue their currency against euro to help the europeans right?

This actually is quite a paradox...CHF is 1/4 weighted against gold value. If CHF is frozen at a max value against EURO, does that mean that gold is frozen as well for buyers holding EUROs? That means that the USD must continue to devalue so that the EURO & gold will be floated higher against a falling USD.

That means longs for Gold & high yielders AUD & NZD coming, & oil ....preparation for this can be seen on long term charts EUR/AUD & EUR/NZD.



All that...

EURAUD is in a whole new territory - and EURNZD blew support and demand quite easily. im not playing short term if ever..

well Fed wants a weaker dollar - and i know theyve been stealth QEing coupla of times - not much - but cupla times..

as for gold.. ill try to follow my cycles to the best i can for the best moves coz its quite volatile. for short term plays i just use my channel system with volaitly bands and linear regression with stochs and line graphs and some bar counts. honeslty a trend chaser.

well for the sake of sharing and if anyone wantss to try eurgbp heres an accurate cycle

looks like ill try for a long - why ? because that daily pin is 30 pips from today's price and we all know how unrisky it is for a 50 pips stop loss for this swing trade to work out right? 8200 round number makes me wanna do it eeven more
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Have I got something on my face, SOLDIER?
  • #5,494
  • Jan 10, 2012 2:53pm Jan 10, 2012 2:53pm
yep im long on this one daily atr is at the lowest of the lowest - 45 pips.

good thing i get no swaps or commisons on currencies - only gold on carry trades


and its a nice 5th wave - possible end at this time to go to abc correction

and BTW i mean 8200 Round number not 8800 lol haha
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Have I got something on my face, SOLDIER?
  • #5,495
  • Jan 10, 2012 3:51pm Jan 10, 2012 3:51pm
play w this tonight...
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  • #5,496
  • Jan 10, 2012 3:58pm Jan 10, 2012 3:58pm
initated a crude oil buy lock scalp of same lot size to get soem off off a bounce here

just want 30p from the bounce - ill look to add at the 1x1 hits again.

crude tends to go up in asia time so ill give it a shot as well as the 38.2 will hold as some sellers will TP and buyers wanna scalp too.
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Have I got something on my face, SOLDIER?
  • #5,497
  • Jan 10, 2012 4:30pm Jan 10, 2012 4:30pm
my gold cycle


im not sure if i posted my dow cycle here but 11 days i expect a good move
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same with gold at that day
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these are just the probabilities IF PRICE IS AT THAT TIMELINE .
Have I got something on my face, SOLDIER?
  • #5,498
  • Jan 10, 2012 5:38pm Jan 10, 2012 5:38pm
Quoting bumapatria

and can u post a chart of ur entries past or present to further explain ur technique?
I somehow missed your last sentence. In one of my accounts, I plan to pull 2k out and put in a Trade Explorer account where anyone that wants to can see every position I have taken and see how well I'm doing. I hope to have it up and running by this month.

The one account I'm referring to I started out with 1k.

I can't give you the trades (too long) but here is the summary:


Account (USD): Riggs, Taigen F | Base currency: USD
Statement Period: Dec 31, 2010 8:00:00 PM (GMT) - Jan 10, 2012 11:32:19 PM (GMT)

[email protected], 12069921600, 8915 Wilkensen Rd SE B5, Yelm, Washington, US United States, 98597

Equity Summary
Transaction Description: Amount, USD

Beginning Cash Balance: 1,482.78 CR
Deposits 0.00 CR
Withdrawals 600.00 DB
[as of October balance 1082.00]

Adjustments 0.00 CR
Interest 0.00 CR
Financing 150.42 DB
Commissions 0.00 CR
Settled Profit/Loss 3,026.18 CR
Unrealized Profit/Loss * 0.00 CR
Floating Profit/Loss 13.38 CR

Ending Account Equity 3,771.94 CR

* Unrealized Profit/Loss may fluctuate prior to settlement due to currency conversion
Activity Summary
Foreign ExchangeSpot Forex Settled Profit/Loss, USD Unrealized Profit/Loss, USD Floating Profit/Loss, USD

USD/JPY.fx
94.44 DB 0.00 CR 0.00 CR

USD/CHF.fx
62.07 DB 0.00 CR 0.00 CR

GBP/USD.fx
286.16 CR 0.00 CR 0.00 CR

EUR/USD.fx
3,083.77 CR 0.00 CR 13.38 CR

USD/RUB.fx
14.29 DB 0.00 CR 0.00 CR

AUD/USD.fx
147.91 DB 0.00 CR 0.00 CR

NZD/JPY.fx 25.07 DB 0.00 CR 0.00 CR
Profit/Loss 3,026.18 CR 0.00 CR 13.38 CR

Hope to get the Trade Explorer up soon. It will be much easier to read.
Taigen Profit This Month: na
  • #5,499
  • Jan 10, 2012 5:51pm Jan 10, 2012 5:51pm
decided to close hedge for +1

not smart i think if price makes more move down - leaving profit locked instead of increasin.g.
Have I got something on my face, SOLDIER?
  • #5,500
  • Jan 10, 2012 6:20pm Jan 10, 2012 6:20pm
almost go time against the USD...

Pound, AUD, & Kiwi should lead pack

thoughts??
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