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14 Year Old Forex Trader's Lessons

  • #7,781
  • Edited 4:22pm Oct 23, 2012 3:45pm | Edited 4:22pm
Patience is the key. Given the weekly range of 170 pips, the trade's time target should exceed no more than the end of this month (31st of Oct).

Pair should continue onwards up. Stop moved up 1.4790. Total pip risk = -60 for a reward of +200.

Tradition of trading during high event risks like the FOMC with live calling the trades is what I do with Ouranos already for some time already so stay tuned tommorow for a trade on EURUSD. Remember that we absolutely have no consideration of what the actual news result is, it always has been about positioning ahead of it. Looking forward to tommorow

Some FOMC/NFP/Interest Rate/CPI / or whatever it was Trades previously called out here:

AUDUSD (note that we" knew " it was a long trade ahead of the time Australia CPI was it?)
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USDCHF - the high probability traded during FOMC
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AUDJPY - BOJ Monetary policy statement
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  • #7,782
  • Oct 23, 2012 4:33pm Oct 23, 2012 4:33pm
EURUSD August FOMC
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GBPCHF ECB Press Conference
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  • #7,783
  • Oct 23, 2012 4:45pm Oct 23, 2012 4:45pm
nice. bro.
  • #7,784
  • Oct 23, 2012 6:08pm Oct 23, 2012 6:08pm
i get that geometry works if you equal price and time.
but i still don't get how.
you said before about posting some scaling charts.
some charts you post i just don't see it.
  • #7,785
  • Oct 23, 2012 7:05pm Oct 23, 2012 7:05pm
Quoting JR97
nice. bro.
Your recent trades are simplistically effective too @ your thread. I could say the same to you too . One does not simply get bored reading JR's thread...
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  • #7,786
  • Oct 23, 2012 7:11pm Oct 23, 2012 7:11pm
Quoting longshot_nl
i get that geometry works if you equal price and time.
but i still don't get how.
you said before about posting some scaling charts.
some charts you post i just don't see it.
Thats primarily because some shapes don't mess up when u scroll the chart left and right. Circles mess up a lot in metatrader if u dont scale ur chart, and your chart needs to be scaled to factors that balances price and time equally. My gann squares don't mess up when i scroll the chart.The squares on their own are already balanced in the timeframe of the chart that i trade, so the chart doesn't need to be scaled.
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  • #7,787
  • Oct 23, 2012 7:48pm Oct 23, 2012 7:48pm
Everybody is bearish the Aussie, strong negative sentiment of continued rate cuts and bam an inflation number of 1.4%, great counter play by Australia. Problem is i didn't trade it by trading the "result" i dont have a low latency news feed, + no feed i know that is available online freely to retail clients are fast enough to be exploited. market moves the second those numbers get out. If you know what you're doing, news volatility can be very profitable.

AUDUSD is a slow-ass pair and is not the smartest way to trade Aussie bullishness given the risk/off. Betting on AUD strength amid EUR and GBP selloffs imo better way to go + much better price volatility.

Ouranos Member's section EURAUD trade setup + after.
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  • #7,788
  • Oct 23, 2012 8:06pm Oct 23, 2012 8:06pm
Quoting bumapatria
Your recent trades are simplistically effective too @ your thread. I could say the same to you too . One does not simply get bored reading JR's thread...
thanks bro. I'm all about simple right now. I don't trade major reversals anymore. I just try and wait for pull-backs and follow-through plays. I spend about 10 min. a day looking at charts. Ok. 15 but that's pushing it.

Keep up the good work.
  • #7,789
  • Edited 10:28pm Oct 23, 2012 8:53pm | Edited 10:28pm
Sent to members:

(initial setup to short @ 1.3025 cancelled, changed to 1.3000)

"EURUSD after some more review looks like a better short @ the 1.3000 mark where a previous angle was responded as support, we can expect it now to act as resistance. 3025 would actually be a standing limit and possibly not get hit, and would invalidate a stronger selloff. So i recommend to switch to 1.3000 for the limit and utilize a -35 pip stop and a 100 pip TP for now. "

(+ round numbers provide are interbank/liqudity prices)
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  • #7,790
  • Edited 10:29pm Oct 23, 2012 9:03pm | Edited 10:29pm
Quoting JR97
thanks bro. I'm all about simple right now. I don't trade major reversals anymore. I just try and wait for pull-backs and follow-through plays. I spend about 10 min. a day looking at charts. Ok. 15 but that's pushing it.

Keep up the good work.
Simple makes it worthwhile. If i dont know what to do, slap on a gann square or a nested square and it always answers of where/when to trade.
" I don't trade major reversals anymore.".
^about that statement, one can nail a reversal with all the funky tools we got but i have to admit myself i like trading volatile trends and range markets.

thats all you need actually, a lot of people think u need to glue your eyes on the screen (well if it works for you great!) as long as u trade. Discipline builds up when u know u dont have to trade and not trading is in a way a "trade".

Best to you too Chad, hopefully you get to addon plenty of shorts soon and get a nice milipede of runners .

PS changed the trade above on EU to 1.3 on the sell limit
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  • #7,791
  • Oct 24, 2012 2:39am Oct 24, 2012 2:39am
There goes optimum entry @ 1.3000. missed by 3.5 pips. Trade cancelled.

GBPCHF still open though < this is the trick play for later
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  • #7,792
  • Oct 24, 2012 6:11am Oct 24, 2012 6:11am
Quoting bumapatria
Best to you too Chad, hopefully you get to addon plenty of shorts soon and get a nice milipede of runners .

PS changed the trade above on EU to 1.3 on the sell limit

  • #7,793
  • Oct 24, 2012 6:29am Oct 24, 2012 6:29am
Quoting JR97
you are one crazy person. No one trades a swing like JR. it is pure skill. Even so pure I DIDNT GET MY LIMIT HIT! Its ur fault man.

But... i had the GBPCHF trade.

let me present to you ....
http://www.forexfactory.com/showthre...47#post6114647
GBPCHF long alert posted here. Boo yah.

Trade set now to BE, do you hold out for the economic storm of shit coming? one thing for sure - move your stop to breakeven, then think it through. in terms of R/R.


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  • #7,794
  • Oct 24, 2012 6:42am Oct 24, 2012 6:42am
For interested eyes. Consider this our news trade lol Before and after. My targets are always tangible and never static in terms of "I trade to TP or its my Stop". These setups are great because you get a price and time area for a trade. + risk is very low on these trades. I have to admit the 100 pip SL was wide early on thats why i moved it up to -60. Anyways the price point for the trade on the newsletter trade alert was 1.4827, market's lowest low in the area was 1.4819. thats a 8 pip DD if u took it there. Anyways it is what it is, i called it live, its not some BS equity curve or excel input.
http://www.forexfactory.com/showthre...47#post6114647
Hope you guys like it!
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  • #7,795
  • Oct 24, 2012 6:58am Oct 24, 2012 6:58am
Done and out for +115 pips. Too much reward to be left alone. Now most people trade with lower risks when using larger stops; i for this trade wasn't using the same usual risk and was leveraged. So yes, my mental intuition tells me to close. Totally and mentally aware that i am leaving a potential hit on my TP for an extra 85 but not worth it

Cross pairs are wonderful. Profiting from market discrepancies. EUR and GBP usually follow each other in terms of risk on/off. Sentiment was more negative on the euro end than GBP. CHF comes into the equation as traders buying dollar vs chf due to risk off and is very closely correlated to eurusd. Theres also that speck of a chance of stealth intervention from the SNB, reducing the value of the CHF.

Will update if i actually find something to trade later for a real "technical news trade".
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  • #7,796
  • Oct 24, 2012 7:39am Oct 24, 2012 7:39am
Silver Trade for tonight.
Attached File(s)
File Type: pdf XAGUSDTrade.pdf   223 KB | 391 downloads
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  • #7,797
  • Oct 24, 2012 4:50pm Oct 24, 2012 4:50pm
Sent to members this week on USD/NOK. This wasn't a cinderella story i expected it to be. I didn't expect it to be more "NOK" this time around, and expected a selloff in euro and a rally on GBPCHF of more epic proportions. But oh well...
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  • #7,798
  • Oct 25, 2012 2:15am Oct 25, 2012 2:15am
So far a pretty great week - clean 100% profit trades.
Traders subscribed to Ouranos got this trade setup on GBPJPY this morning. Really needed no British GDP or any other volatile event to spark it up. Really nice taking advantage of the overall pattern + USDJPY's breakout and the extreme bearishness in the GBPUSD.
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  • #7,799
  • Oct 25, 2012 2:22am Oct 25, 2012 2:22am
Silver is still open at the moment, in the red yesterday but taking a look at the daily, it looks set for an upmove.
On the daily chart, silver is at a nice price/time intersection + a nice confluence of a 50% and 38.2% fib retracement. Oversold oscillator reading is a plus. I have set targets near 34.00 now and removed TP.
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  • #7,800
  • Oct 26, 2012 12:01am Oct 26, 2012 12:01am
Quoting bumapatria
Silver is still open at the moment, in the red yesterday but taking a look at the daily, it looks set for an upmove.
On the daily chart, silver is at a nice price/time intersection + a nice confluence of a 50% and 38.2% fib retracement. Oversold oscillator reading is a plus. I have set targets near 34.00 now and removed TP.
manually closed -19 cents.
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