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14 Year Old Forex Trader's Lessons

  • #6,921
  • May 22, 2012 5:48am May 22, 2012 5:48am
Quoting PipTrapper
Chang. There is no need to spend money to learn how to trade. The best education is experience. If you want to become better and maybe even recover the losses you are suffering in your account, come follow all the excellent traders in the EurAnalysis thread.
Cheers
PT
im investigating my broker ,they say they are ECN but i dont know.. i feel PFD like an Marker Maker (or just my setup is bad hehe) , my tolerant is @ $400 so i now stop trading live and go back to demo again first hha , i will check the thread later, im still 'exploring' bumapatria thread in FF and in Indo MT5..
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,922
  • May 22, 2012 6:00am May 22, 2012 6:00am
Eurusd long setup forming on hourly chart at the moment.

We are right now experiencing a high tide in London as well as chiron+ mars support line and the 100 AMA ( just a confluence). Looking for a good bounce from current level in price and time.
Recent News
+ "Fitch estimates up to EUR35 Billion for Spain Bank recapitalization. "

Bar + volume
Current hourly and 30min volume and bar formations are showing rejection and possible demand
Attached Image
Have I got something on my face, SOLDIER?
  • #6,923
  • May 22, 2012 6:12am May 22, 2012 6:12am
Quoting bumapatria
Eurusd long setup forming on hourly chart at the moment.

We are right now experiencing a high tide in London as well as chiron+ mars support line and the 100 AMA ( just a confluence). Looking for a good bounce from current level in price and time.
Recent News
+ "Fitch estimates up to EUR35 Billion for Spain Bank recapitalization. "

Bar + volume
Current hourly and 30min volume and bar formations are showing rejection and possible demand
well ,support 1 that is , i think it will bounce @support line 2 (1.27242)
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,924
  • May 22, 2012 6:15am May 22, 2012 6:15am
Quoting changbachang
well ,support 1 that is , i think it will bounce @support line 2 (1.27242)
demand is already soaked in imo - now to take out trapped shorts (i think) and time has arrived. ]

when volume (market participants activity yes, people sya volume is fake and bla bla but tick is pretty close to futures..) + Time (natural resonance + law that governs market movement in a harmonious manner) + nice price level =...


a pretty good combo to take a trade on.
now going to for a good trade
Have I got something on my face, SOLDIER?
  • #6,925
  • May 22, 2012 6:25am May 22, 2012 6:25am
Quoting bumapatria
demand is already soaked in imo - now to take out trapped shorts (i think) and time has arrived. ]

when volume (market participants activity yes, people sya volume is fake and bla bla but tick is pretty close to futures..) + Time (natural resonance + law that governs market movement in a harmonious manner) + nice price level =...


a pretty good combo to take a trade on.
now going to for a good trade
lets see.. *excited /
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,926
  • May 22, 2012 7:10am May 22, 2012 7:10am
Quoting bumapatria
demand is already soaked in imo - now to take out trapped shorts (i think) and time has arrived. ]

when volume (market participants activity yes, people sya volume is fake and bla bla but tick is pretty close to futures..) + Time (natural resonance + law that governs market movement in a harmonious manner) + nice price level =...


a pretty good combo to take a trade on.
now going to for a good trade
ok i think u right.. xD ,rsi going up,adx closing and gonna bull (yes i still use couple indi for strength),volume bear(decreasing), damn u good ~,~ must become like u (and more )
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,927
  • May 22, 2012 7:30am May 22, 2012 7:30am
btw ,u enter gold?
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,928
  • May 22, 2012 7:32am May 22, 2012 7:32am
Quoting changbachang
ok i think u right.. xD ,rsi going up,adx closing and gonna bull (yes i still use couple indi for strength),volume bear(decreasing), damn u good ~,~ must become like u (and more )
i usually just keep a momentum oscillator for a lagging indicator and sometimes 1 MA but thats it lol me and indies dont really match well.
Have I got something on my face, SOLDIER?
  • #6,929
  • May 22, 2012 7:40am May 22, 2012 7:40am
Quoting bumapatria
i usually just keep a momentum oscillator for a lagging indicator and sometimes 1 MA but thats it lol me and indies dont really match well.
1MA for? zig zag ? (1,2,3,4,5,a,b,c?)
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,930
  • May 22, 2012 7:42am May 22, 2012 7:42am
Quoting changbachang
btw ,u enter gold?
avoided gold recently but the forecast i posted was fulfilled.
i was early 1 day but thats a good deviation my max deviation on cycles i can tolerate is +2 and -2 Days max if price doesn't jump about too much This chart was posted here on i think the 13th sayng that 15th would be a low. gold mvoed up about $50 (500 pips) from this call (if u entered at may15th close).


the huge arrow is just a target for long term to hit that 1x1. Will also update that when it does occur
Attached Image (click to enlarge)
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Attached Image
Have I got something on my face, SOLDIER?
  • #6,931
  • May 22, 2012 7:51am May 22, 2012 7:51am
Quoting changbachang
1MA for? zig zag ? (1,2,3,4,5,a,b,c?)
what i mean is "one moving average line" not a moving average of 1 period (haha that would look somewhat funny i think lol ).

elliot wave to me is a confluence tool and sticking to the basics is good on EW. no need to count subwaves and this that and what not. markets resonate to 5's and 9s in price and time. so elliot was not crazy at ll.


i dont want to clutter my chart too much as i can already highlight those wave points either with the naked eye. in a chart i;d like to see the usual process of my analysis goes sort of like this below

 

  1. the main idea = the underlying cycle of the market at that particular timeframe. AKA TIME.
  2. Price = levels in price to watch for be it angles or ratios + patterns prevailing in the market. PRICE.
  3. execution = what i need to see the market to do to trigger my trade and where my stop is target etc. MANAGEMENT.

A chart needs to connect to you , its contents as well. what i do is keep what is important most to see there. its the medium of communication that market makes to you.

Have I got something on my face, SOLDIER?
  • #6,932
  • May 22, 2012 7:54am May 22, 2012 7:54am
btw im excited with eurusd weekly chart , look at it, i think it will up , how is my ana? is it quite right? O_o
Attached Image (click to enlarge)
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redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,933
  • May 22, 2012 7:59am May 22, 2012 7:59am
Quoting bumapatria
what i mean is "one moving average line" not a moving average of 1 period (haha that would look somewhat funny i think lol ).

elliot wave to me is a confluence tool and sticking to the basics is good on EW. no need to count subwaves and this that and what not. markets resonate to 5's and 9s in price and time. so elliot was not crazy at ll.


i dont want to clutter my chart too much as i can already highlight those wave points either with the naked eye. in a chart i;d like to see the usual process of my analysis goes sort of like this...
u know.. with this words (ur words) , im already ur fan.. LOL , tell me if u make t-shirt with ur face/words in it ,wil buy it
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,934
  • May 22, 2012 8:04am May 22, 2012 8:04am
Quoting changbachang
btw im excited with eurusd weekly chart , look at it, i think it will up , how is my ana? is it quite right? O_o
"assume it is never wrong or right until proven so. and always treat it that way. "
quoted from redlion.

unfortunately i do not see the future therefore i do not know if it is right or wrong. but i can tell you yes it is going to be interesting the times to come. ill see if i can get you my view on the EURO index.
Have I got something on my face, SOLDIER?
  • #6,935
  • May 22, 2012 8:09am May 22, 2012 8:09am
ok, roger, 'wait for it wait for it then go' timing n prove,ok thx a lot bro ,cendol buat agan (understand this words? xD) , gonna afk continue study,lot of assignment , see yaa
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,936
  • May 22, 2012 8:15am May 22, 2012 8:15am
oh 1 more @PT , thx too
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,937
  • May 22, 2012 8:40am May 22, 2012 8:40am
oh yea, want to ask very very important question to buma & PT , what is the characteristic of an (True) ECN? , and i heard ECN always have commission , im with PFD (pacific financial derivatives) they dont have (no)commission IF my trade is lose , may i know according to u 2 or other Traders as well.. is PFD a True ECN? (u can check their web www.pfd-nzd.com) thx a lot lot lot [did i mention they're ex-WSD?]
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #6,938
  • May 22, 2012 9:02am May 22, 2012 9:02am
stopped at breakeven
high tide only gave a short lived 20-35 pip turn.
Attached Image
Have I got something on my face, SOLDIER?
  • #6,939
  • May 22, 2012 9:03am May 22, 2012 9:03am
Quoting changbachang
oh yea, want to ask very very important question to buma & PT , what is the characteristic of an (True) ECN? , and i heard ECN always have commission , im with PFD (pacific financial derivatives) they dont have (no)commission IF my trade is lose , may i know according to u 2 or other Traders as well.. is PFD a True ECN? (u can check their web www.pfd-nzd.com) thx a lot lot lot [did i mention they're ex-WSD?]
Who told you that PFD is an ECN broker?
If they were truly ECN, they would advertise it on their website. I looked everywhere and I don't see it.

ECN means that they have direct (Tier 1) access for pricing and order fulfillment with the Interbank market or ECN (Electronic Communication Network).

The Interbank market has low but variable spreads. However, during volatile times, the spread can increase to much higher than what you will see on a non-ECN broker's feed. PFD seem to have fixed spreads, so that tells me they are most likely non-ECN.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,940
  • May 22, 2012 9:08am May 22, 2012 9:08am
Quoting PipTrapper
Who told you that PFD is an ECN broker?
If they were truly ECN, they would advertise it on their website. I looked everywhere and I don't see it.

ECN means that they have direct (Tier 1) access for pricing and order fulfillment with the Interbank market or ECN (Electronic Communication Network).

The Interbank market has low but variable spreads. However, during volatile times, the spread can increase to much higher than what you will see on a non-ECN broker's feed. PFD seem to have fixed spreads, so that tells me they are most likely non-ECN....
who tell me? they're (of course -.-) , but i search about them from any fx broker review and 99% say they're ECN , already think move to Dukascopy or MB Trading cause i too feel they're (PFD) is MM ,BTW i think their spread isnt fixed (dont know, my eye hurts lol) u can look @ their spread info from http://www.forexfactory.com/brokers.php
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
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