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14 Year Old Forex Trader's Lessons

  • #6,321
  • Feb 28, 2012 8:44am Feb 28, 2012 8:44am
going for the stop hunt if i make it
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Have I got something on my face, SOLDIER?
  • #6,322
  • Feb 28, 2012 8:46am Feb 28, 2012 8:46am
ok made it and closed baby.

20 pips in 5 mins.
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Have I got something on my face, SOLDIER?
  • #6,323
  • Feb 28, 2012 9:10am Feb 28, 2012 9:10am
shorted euryen again. this harmonic 25 cant get enough can it?
stop to +1
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Have I got something on my face, SOLDIER?
  • #6,324
  • Feb 28, 2012 9:24am Feb 28, 2012 9:24am
nicely done and closed.
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  • #6,325
  • Feb 28, 2012 10:51am Feb 28, 2012 10:51am
short eur yen again.
45 bars from high - harmonic number as ive said many times.
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  • #6,326
  • Feb 28, 2012 11:30am Feb 28, 2012 11:30am
ranging too long - i booked 2/3 profits... at +4 and +6 at different times.
left rest to BE now
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  • #6,327
  • Edited 9:36pm Feb 28, 2012 9:19pm | Edited 9:36pm
Short XAUJPY... 138.2 of prev downswing and 50% of previous time range
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also i believe that on my live account the curve has been very swingy and not very consistent. just up and down and i think i need to understand to remove emotional attachment to money and ability to execute like a professional trader. i have made myself a demo accoutn - an explorer too , which would be a testing period for me over the course of 4-5 months. We will review from there if i continue to trade live.

take this like a practice towards success. not a failure mechanism. failure would be to continue trade live and not know wtf went wrong. and not reanalyze the situation and my problem.

Ill say it again and again... i have good skill i have to be honest but a BAD trading psychology. Demo u just make a new one bla bla and its not real - yes i am fully aware of that. I will use reall MM and R/R strategies that i would normally use and just basically do it on paper trading though.

i have good MM and good R/r and good skill - but guess what - the mind can screw that all up. I think with at least 4 months of practice ill be able to make this practice into good habit and a habit i plan on carrying on while trading live.

skill is easy - everything i did over 6+ motnhs learning all this i have to say is not that easy but its not that hard either.
Mindset has been quite the major cloud hanging over my head
Have I got something on my face, SOLDIER?
  • #6,328
  • Feb 28, 2012 9:44pm Feb 28, 2012 9:44pm
Quoting bumapatria
Short XAUJPY... 138.2 of prev downswing and 50% of previous time range
Attachment

also i believe that on my live account the curve has been very swingy and not very consistent. just up and down and i think i need to understand to remove emotional attachment to money and ability to execute like a professional trader. i have made myself a demo accoutn - an explorer too , which would be a testing period for me over the course of 4-5 months. We will review from there if i continue to trade live.

take this like a practice towards success....
Just saw this post, I think I have something that may help a bit.

Check out this blog, It is a old blog by Brett Steenbarger..he is a trading coach at a prop firm here in Chicago. He stopped posting a while back, but he has excellent info if you look there.

http://traderfeed.blogspot.com/

One thing i do every night and before the trading day is use visualization. I visualize myself executing in the manner that I desire, following my plan etc. I've had a problem with impulsive trading in the past and this has all but eliminated it! Gluck
  • #6,329
  • Edited 10:07pm Feb 28, 2012 9:48pm | Edited 10:07pm
EURUSD setup .. moon 90 neptune. bullish PA seems weak - compression wihtin wedge is sighted..

if anyone wants access to the forex explorer and the commodities both - chck my profile page i dont know howto add more than 1 explorer on a thread
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Have I got something on my face, SOLDIER?
  • #6,330
  • Feb 29, 2012 2:45am Feb 29, 2012 2:45am
Quoting bumapatria
Short XAUJPY... 138.2 of prev downswing and 50% of previous time range
Attachment

also i believe that on my live account the curve has been very swingy and not very consistent. just up and down and i think i need to understand to remove emotional attachment to money and ability to execute like a professional trader. i have made myself a demo accoutn - an explorer too , which would be a testing period for me over the course of 4-5 months. We will review from there if i continue to trade live.

take this like a practice towards...
Hi Buma, running through my subscribed list and thought I'd check on you. Telling yourself you have skills will only hurt you the more. Successful speculation does not require skill(s), it only requires "common sense". Going to a demo will not make u any better. Try the following options:

1. Convert the screentime you spend on FF to screentime with the charts.
2. Stop being jack of all strategies. Remember it's not the samurai with the most swords in his arsenal that wins the battle, but the one that wields it best. Pick a strategy and become a specialist in it.
3. Following various instruments will lead you no where. Those who do that are either sitting behind 8monitor arrays at G-sachs or have powerful algos helping them out on their Merill Lynch desk. Know your instrument, eat it, drink it and speak it.
4. Get good fundamental background on the instrument you pick. After conquering an instrument for 2 or more years, you can add another to the portfolio. But seriously, if you conquer a currency instrument, you can always make a killing on it, hence, no need for other addition.
5. Read your journal every weekend...it's the best trading textbook you can ever have.

I'm chanced to write all this because I'm waiting for the LTRO...all the best to you kid.

Kindest regards,
Motion
Don't just beat the markets, leave bruises.
  • #6,331
  • Feb 29, 2012 2:49am Feb 29, 2012 2:49am
Quoting Motion
Hi Buma, running through my subscribed list and thought I'd check on you. Telling yourself you have skills will only hurt you the more. Successful speculation does not require skill(s), it only requires "common sense". Going to a demo will not make u any better. Try the following options:

1. Convert the screentime you spend on FF to screentime with the charts.
2. Stop being jack of all strategies. Remember it's not the samurai with the most swords in his arsenal that wins the battle, but the one that wields it best. Pick a strategy and become...
thanks motion for your post. i guess i can always go live again but ill use less money or just a fraction of the account i have left. very logical and ill definitely cut FF time.

ok mate. thanks again so much been here from time to time appreciate it..
btw are you able to call yourself a consistently profitable trader? i am not able to do so yet.
ill humble myself down and just do the charts. will post trade results - ill delete the explorers.
Have I got something on my face, SOLDIER?
  • #6,332
  • Feb 29, 2012 4:04am Feb 29, 2012 4:04am
Quoting bumapatria
thanks motion for your post. i guess i can always go live again but ill use less money or just a fraction of the account i have left. very logical and ill definitely cut FF time.

ok mate. thanks again so much been here from time to time appreciate it..
btw are you able to call yourself a consistently profitable trader? i am not able to do so yet.
ill humble myself down and just do the charts. will post trade results - ill delete the explorers.
---------------------------------------------------------------------
Hi Buena,

You already have put in great effort and time in learning the basis, basics and many many different aspects of Forex Trading and have built a solid foundation for growth upwards.

You can now build up on this firm foundation. So, now you might need to re-focus and fine-tune your plan for future and go about building the super-structure to your liking. You sure have a bright future ahead of you. Just keep up your passion and maintain your humility. Good luck.
  • #6,333
  • Feb 29, 2012 4:57am Feb 29, 2012 4:57am
my trades on the shorts have done well..
totals 42 pips and done and out.
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Have I got something on my face, SOLDIER?
  • #6,334
  • Feb 29, 2012 7:19am Feb 29, 2012 7:19am
stop hunt eurjpy trade +15 in 5mins.

for more details on the quick analysis and trade - visit my blog..
http://timingthemarket.weebly.com/4/...ps-closed.html

(not commericalizing.. that blog has no ads or any moenymaking feature etc... just a nice blog for me and some viewers )
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  • #6,335
  • Feb 29, 2012 8:05am Feb 29, 2012 8:05am
i am going to book my addon on XAUJPY.

+20 and left upper to run
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  • #6,336
  • Feb 29, 2012 9:23am Feb 29, 2012 9:23am
and im done.
call was made way before the move.

here was before and now after.
enjoy.
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http://timingthemarket.weebly.com/2/...y-29-2012.html
http://timingthemarket.weebly.com/2/...concluded.html

no cheating i posted everything on time. for anyone who cares to read anyways
Have I got something on my face, SOLDIER?
  • #6,337
  • Feb 29, 2012 9:53am Feb 29, 2012 9:53am
XAUJPY
posted earlier today
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  • #6,338
  • Feb 29, 2012 10:32am Feb 29, 2012 10:32am
Nice blog, dude.
  • #6,339
  • Feb 29, 2012 4:23pm Feb 29, 2012 4:23pm
Quoting JR97
Nice blog, dude.
I second this!
  • #6,340
  • Feb 29, 2012 11:39pm Feb 29, 2012 11:39pm
its still a work in progress but thanks guys
Have I got something on my face, SOLDIER?
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