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14 Year Old Forex Trader's Lessons

  • #7,261
  • Jul 11, 2012 11:05pm Jul 11, 2012 11:05pm
The time is now for the trade on the aussie i talked about yesterday.
setting up nicely on a trendline as well.
looking for moderate 35-40 pip profit with a stop of -22 pips.
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Have I got something on my face, SOLDIER?
  • #7,262
  • Jul 11, 2012 11:09pm Jul 11, 2012 11:09pm
Congradulations on the last couple of calls you've made Buena!
  • #7,263
  • Jul 11, 2012 11:17pm Jul 11, 2012 11:17pm
Quoting bumapatria
The time is now for the trade on the aussie i talked about yesterday.
setting up nicely on a trendline as well.
looking for moderate 35-40 pip profit with a stop of -22 pips.
Attachment
Ok, I jumped on this as well, what is your tp?
  • #7,264
  • Jul 11, 2012 11:36pm Jul 11, 2012 11:36pm
Quoting rozario173
Ok, I jumped on this as well, what is your tp?
here are my levels on the chart.
I treat Take profit loosely though. Sometimes price rejects near your TP range and not actually hit it so be flexible with it (at least the way i do it)

There's a reason to why i expect this aspect to "affect" Aussie especially.
Think Neptune. Whats up with it on the ephemeris? What sign is it in - and why neptune to aussie? for those who wonderr

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  • #7,265
  • Jul 11, 2012 11:48pm Jul 11, 2012 11:48pm
http://www.insurancejournal.com/news.../11/255182.htm

..."
None of this is to say that the ECB was not right in cutting rates. If anything their action was too little, and many months tardy. The euro will likely depreciate from here, either because official policy guides it lower or because policy is botched and it lurches lower.
This is exactly why we should expect more currency conflict, and with rising stakes. With China showing signs of deflation and European in recession, the Federal Reserve will be next to act."
^
Thats a thought to ponder upon.



Theres the huuuge mess as well with PFGBest...
http://www.nfa.futures.org/basicnet/...px?seqnum=3356
Have I got something on my face, SOLDIER?
  • #7,266
  • Jul 12, 2012 12:41am Jul 12, 2012 12:41am
is this crazy or what?

(Reuters) - U.S. futures industry investigators are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting firm that appears to be operating from inside a suburban Chicago home to audit its books, according to a person familiar with the matter.

http://www.reuters.com/article/2012/...86B02N20120712
Have I got something on my face, SOLDIER?
  • #7,267
  • Jul 12, 2012 1:13am Jul 12, 2012 1:13am
GBPyen for longs Again?
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  • #7,268
  • Edited 6:04am Jul 12, 2012 5:36am | Edited 6:04am
AUDUSD and recent GBPJPY trade stopped -22 pips and -23 pips.

manage to have some decent recovery through the eurusd barrier that is taken out and decided to go for it. reasonable 16 pips..
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  • #7,269
  • Jul 12, 2012 6:05am Jul 12, 2012 6:05am
Hi Buma, How you doing?
"Men who can both be right and sit tight are uncommon."
  • #7,270
  • Jul 12, 2012 6:07am Jul 12, 2012 6:07am
GBPUSD for a rally?
GBPUSD Hourly chart attached.
Longed with -26 pip stop.
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Have I got something on my face, SOLDIER?
  • #7,271
  • Jul 12, 2012 6:08am Jul 12, 2012 6:08am
Quoting Mike8
Hi Buma, How you doing?
Hi Mike i am faring well - just need to do study for some exams.
how can i study for an exam when the market is so erratic??
How about yourself?
Have I got something on my face, SOLDIER?
  • #7,272
  • Jul 12, 2012 6:17am Jul 12, 2012 6:17am
Quoting bumapatria
Hi Mike i am faring well - just need to do study for some exams.
how can i study for an exam when the market is so erratic??
How about yourself?
I am doing very well actually. Yesterday I made money going long audusd and today I made money going short the same pair.
"Men who can both be right and sit tight are uncommon."
  • #7,273
  • Jul 12, 2012 6:23am Jul 12, 2012 6:23am
Quoting Mike8
I am doing very well actually. Yesterday I made money going long audusd and today I made money going short the same pair.
very nice!
Ill do a review tommorow for what happened really on that aspect today with neptune(Which i missed innocently....) and the AUD dissapointing unemployment that maybe in the future snowball with other bad economic data to a RATE CUT. and also an overall review of the week of course as usual.
Have I got something on my face, SOLDIER?
  • #7,274
  • Jul 12, 2012 6:30am Jul 12, 2012 6:30am
Quoting bumapatria
very nice!
Ill do a review tommorow for what happened really on that aspect today with neptune(Which i missed innocently....) and the AUD dissapointing unemployment that maybe in the future snowball with other bad economic data to a RATE CUT. and also an overall review of the week of course as usual.
Classic example that trading bigger timeframe is not trading but only speculating.

Yesterday aud went up because of China, today it went down because of numbers. Why do not just make money both ways? Because skills is needed to be able to trade.
"Men who can both be right and sit tight are uncommon."
  • #7,275
  • Jul 12, 2012 8:22am Jul 12, 2012 8:22am
well what do you know silver goes for my initial target of 26.50.
I only got 15 cents out of the move instead of a 50 but that's okay. More opportunities ahead.
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It was a perfect lineup as well. I just thought the minutes' reaction despite only a sort of reassurance wouldn't be so short-lived on the hour but it was near NY close so it does make sense for those traders that moved price down to book the profits on the spike down.
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  • #7,276
  • Jul 12, 2012 9:43am Jul 12, 2012 9:43am
LOL i had to hunt my own stop with shorts on GBP just now...
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  • #7,277
  • Jul 12, 2012 9:50am Jul 12, 2012 9:50am
the mistake i showcased earlier was that the timeline was actually 3 bars earlier! and gave way for the selloff after price rose to the time.
Always make sure if you'er trading cycles to make sure that your cyclelines are ON BAR.
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  • #7,278
  • Jul 12, 2012 10:32am Jul 12, 2012 10:32am
Warrup Buma -- I see you are now commercial , so when do I join the team..
  • #7,279
  • Jul 12, 2012 10:33am Jul 12, 2012 10:33am
Quoting bumapatria
LOL i had to hunt my own stop with shorts on GBP just now...
Your sell was very close to demand , hopefully the 30 minute supply line holds for you...
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  • #7,280
  • Jul 12, 2012 10:36am Jul 12, 2012 10:36am
Quoting taomql4
Warrup Buma -- I see you are now commercial , so when do I join the team..
Tao im well how about yourself?
yalla, jump on the boat lol

awesome shorts on cable btw i saw your post on cable thread

No worries i closed thsoe up it was a fast trade.
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