how old are you

[eliberto]

I'm 16 started studying forex trading 2 months ago currently on a demo account trying to learn as much as possible.

[halo3plz]

right on young guys! we are taking over mwahahahahaha

[pro87]

Hello to everyone i`m just 20 but now making very good money of forex.i think that age and i really don`t think that age has value here just the way you see things and ... how do you do them.Is not easy in forex not just to deposit little money in forex and . hop just like that you make money ...you should to read a lot to try to think how and why price goes like this and how to catch it ... that`s all for now ... i wish everyone a lot of pips ;] just don`t keep trying to have better life .. bye guys

[LasVegasForex]

22, I have been doing stocks since I was about 17 as I was given 2200 shares of Exxon when my great grandmother died. All the other family members liquidated them, me being the only one that kept them, I am the only one with anything left. I am a math/economics major and really enjoy investing in any form. I own real estate and various other assets at a young age.
As far as Forex, I feel that for about 90% of the people that get involved have false expectations and plan on being able to get rich quick...and fail. I spend very little time with it and can supplement about $1200 to $1500 a month. My goal is to keep all the profits from Forex and open a managed account with a "real" broker.
Never too young and never too old!

[halo3plz]

2200 shares of xom is not bad at all! you gma had some nice taste in her stock picking!!!

[jlmac27]

Originally Posted by LasVegasForex

22, I have been doing stocks since I was about 17 as I was given 2200 shares of Exxon when my great grandmother died. All the other family members liquidated them, me being the only one that kept them, I am the only one with anything left. I am a math/economics major and really enjoy investing in any form. I own real estate and various other assets at a young age.
As far as Forex, I feel that for about 90% of the people that get involved have false expectations and plan on being able to get rich quick...and fail. I spend very little time with it and can supplement about $1200 to $1500 a month. My goal is to keep all the profits from Forex and open a managed account with a "real" broker.
Never too young and never too old!

Nice job vegas!!!Sounds like you have it together at such a young age. I am 33 and wish I had done more by now,But I guess it;s better late then never.I was just wondering if you don't mind saying what size account do you make these profits with? $1,200-$1,500.I was just wondering how far I am off. Well good trading to you friend and take care!!

[LasVegasForex]

Originally Posted by jlmac27

Nice job vegas!!!Sounds like you have it together at such a young age. I am 33 and wish I had done more by now,But I guess it;s better late then never.I was just wondering if you don't mind saying what size account do you make these profits with? $1,200-$1,500.I was just wondering how far I am off. Well good trading to you friend and take care!!

I am using a mini account. I keep 5,000 in it at all times. Everything over 5,000 will get withdrawn once per month.

My basic strategy is to swing trade any pair involving the dollar. My favorite are the USD/JPY and EUR/USD.

I use basic pivot points and fib levels and try to catch the reversals once they are confirmed with my indicators. I allow the trade to go through small areas of support and resistance and will only close the trade is the major trend is broken.

I trade with 4HR , D, and W charts. I will leave these trades in for as long as they need to be there, so up to weeks is okay with me.

I will also position trade with micro lots on the same account and will leave a micro lot trade open for months if it is doing well.

I do not trade news events or try to scalp. The idea for me is to become profitable and go from 1 lot per trade then to 2 to 4 and so on. As long as I don't risk going below my 5,000 I will keep doubling or tripling the lot sizes. If I loose all and wind up at my 5k limit level, its acceptable by me.
( I got my ass kicked this month by all the damn news events and record levels being set)

I feel that I am more of an investor than a trader when it comes to forex. I look at the worst possible scenario. Such as: if the major trendline is broken , how much will I loose? If can take the loss, I am all in.

I may write down my methods in detail one day, but the web is so full of self-proclaimed experts, I will wait until I truly am successful before I do that.

ONE MORE THING--- OPEN YOUR ACCOUNT WITH A C-CORPORATION! There are so many benefits to this I don't have the energy to describe.

[jlmac27]

hello lasvegasforex,

Your telling me you make$1,200-$1,500 a month off of $5,000? That sounds pretty good I am happy for you good going!What are D,W charts? I haven't heard of them. On an average how many trades is that a month?With a 4Hr chart I would think it isn't to many huh?Well keep up the good work!! It sure would be nice to do this full time for a living.I would have more time for my family,I work around 65-70 hours a week right now just to make it.I would like to use my mind to make money one day not my body...Take care lasvegasforex!!

[LasVegasForex]

Originally Posted by jlmac27

hello lasvegasforex,

Your telling me you make$1,200-$1,500 a month off of $5,000? That sounds pretty good I am happy for you good going!What are D,W charts? I haven't heard of them. On an average how many trades is that a month?With a 4Hr chart I would think it isn't to many huh?Well keep up the good work!! It sure would be nice to do this full time for a living.I would have more time for my family,I work around 65-70 hours a week right now just to make it.I would like to use my mind to make money one day not my body...Take care lasvegasforex!!

Not quite, I average that, some months I loose, make more than that etc. I am pretty high risk due to the fact that I double my lot sizes each trade during month. Meaning if I hit 150 pips on 1 lot, I will open my next trade with 2, then 3 or 4. The idea by the end of the month is to open a trade or two with 6-10 lots. I try to make it so the increase of lots is hedged ( a bit) by my profits from the prior trade. That doesn't mean that I am 100% profitable, and I have suffered major drawdowns and loss of capital.

The hardest thing is to stop myself on a roll, meaning if am up to 10 or 12 lots per trade and successful, taking my profits and going back to 1, I try to do this once a month, sometimes I will "parlay" as you will, for only 2 weeks and sometimes for more, the longer I do, the more risky it is and the market is tricky.

I will also take long term position trades in the favor of the long term trend...using this a a hedge,I will then place some swing trade opportunities on the short and medium trends in both directions.

BTW,,,, D = daily and W = weekly. Weekly is my long term trend, daily for medium and 4hr for short.

I wouldn't recommend following my advice or anyones for that matter, not that there is not good advice, but you have to find your own way. I studied a few methods and most importantly listen to peoples failure stories as much as successes.

[metalhead trader]

Im 17 here