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College student Journal

  • #1
  • First Post: Edited Jul 24, 2012 10:35pm Jul 17, 2012 11:48pm | Edited Jul 24, 2012 10:35pm
I'm a 18 year old Canadian student. For now I'm on vacation, but usually spend a lot of time at school. I'm on a science program and I need a lot of time to study. one of my favorite hobby is Forex. I started Forex about 3 years ago. I have been practicing actively for more than 2 years on demo and a little bit on Live account. My goal is to make as much money as I can. i learned a lot of thing in the past 3 years, and I know if i make to much profit In a day or month, I'm likely to lose it. Its better to go slowly.

I don't really use indicator. I will always have 1 or 2 moving averages on my chart, but I don't often use them. I often use Fibonacci, but I don't consider this tool as an indicators.

I personally think that trading longterm rather than short-term is more profitable. But I will not only trade longterm, I will sometime scalp if I think the chance that i will be right are high.

I will use between 1:1 and 6:1 of leverage. I will try my best to never go over 12:1, more than that would be over-leveraging.

I will trade most of the Forex pair, plus gold, silver, Crude Oil ( Nymex crude Oil) and CFD such as the Dow Jones, Sp500, Dax and FTSE


Hope someone will enjoy this thread. Everyone is welcome as long there is respect. If you have a forecast or a opinion, post your proofs or chart to support what you r saying if possible.
Alternatives are more important than the plan itself
  • #2
  • Jul 17, 2012 11:53pm Jul 17, 2012 11:53pm
Im currently on a trade for silver. This commodity, like gold, dont want to move down. Investors are waiting for opportunity to buy. for the past weeks, we had lower lows and red candle. In the longterm, silver and gold are likely to go higher. this trade will be a longterm trade, I might close it on January or latter as long as its in the green
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Alternatives are more important than the plan itself
  • #3
  • Jul 18, 2012 12:19am Jul 18, 2012 12:19am
sstudy well and trade well do u plan to take forex as a career?
No place for mistakes
  • #4
  • Jul 18, 2012 12:51am Jul 18, 2012 12:51am
Quoting Soldier
sstudy well and trade well do u plan to take forex as a career?
thank you dude
Alternatives are more important than the plan itself
  • #5
  • Jul 18, 2012 8:52am Jul 18, 2012 8:52am
For today, we can see that gold dont want to break this small fib 61.8

we will have to a little bit thought, Im looking forward to long gold for short term
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Alternatives are more important than the plan itself
  • #6
  • Jul 18, 2012 8:55am Jul 18, 2012 8:55am
Quoting Soldier
sstudy well and trade well do u plan to take forex as a career?
oh, I didnt see your question. No i dont want to take forex as a career. But I will trade as long as I can. I prefer to work as an engineer rather than a banker
Alternatives are more important than the plan itself
  • #7
  • Jul 18, 2012 8:57am Jul 18, 2012 8:57am
Looks like the crude oil is on its way up
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Alternatives are more important than the plan itself
  • #8
  • Jul 18, 2012 9:47am Jul 18, 2012 9:47am
Good luck
  • #9
  • Jul 18, 2012 10:10am Jul 18, 2012 10:10am
Quoting Terraforce1
Good luck
thank you mate. come back here as often as you can
Alternatives are more important than the plan itself
  • #10
  • Jul 18, 2012 2:03pm Jul 18, 2012 2:03pm
Quoting -Melo-
For today, we can see that gold dont want to break this small fib 61.8

we will have to a little bit thought, Im looking forward to long gold for short term
Gold really dont want to break the fib 61.8 . I long gold, despite no sign of QE3. stop-loss at 1560 and take-profit at 1600
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Alternatives are more important than the plan itself
  • #11
  • Jul 18, 2012 11:58pm Jul 18, 2012 11:58pm
My oil position is doing very fine, unfortunately, i cant say the same for my gold position. Im seriously thinking of closing it, but i will wait for tomorrow morning
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Alternatives are more important than the plan itself
  • #12
  • Jul 19, 2012 3:23am Jul 19, 2012 3:23am
Is this a Live account??
  • #13
  • Edited 8:17am Jul 19, 2012 7:16am | Edited 8:17am
Quoting rtiger29
Is this a Live account??
its a demo. I have 2 or 3 month left on demo. But I have an open position on silver on my live account
Alternatives are more important than the plan itself
  • #14
  • Jul 19, 2012 8:14am Jul 19, 2012 8:14am
Quoting -Melo-
Gold really dont want to break the fib 61.8 . I long gold, despite no sign of QE3. stop-loss at 1560 and take-profit at 1600
Gold did move up, but I decided to close my position on this commodity. I also close my position on crude oil.

next week is going to be very important. Im looking forward to short the JPY if the Trade balance is negative. AUD will be also important to watch
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Alternatives are more important than the plan itself
  • #15
  • Jul 19, 2012 6:42pm Jul 19, 2012 6:42pm
AUD became very strong during the week. Tomorrow is Friday, people are likely to close few of their position and take their profits. I think that AUD will pullback down a little bit so I added a short on AUD/USD

Stop loss on AUD/USD at 1.0475. take profit will be near, a little bit below, the fib 61.8. I will add the take profit later on Friday

Im still looking forward to short the Yen. One mistake I made this week was to close my oil position a little bit too early. Oil price could go down a little bit for Friday. we still have sideways on Silver and Gold.
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Alternatives are more important than the plan itself
  • #16
  • Jul 19, 2012 10:44pm Jul 19, 2012 10:44pm
Quoting -Melo-
Looks like the crude oil is on its way up
we reached fib 50. Oil is very unlikely to stop now. im looking forward to long it again, unless something bad happen in China or Europe
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Alternatives are more important than the plan itself
  • #17
  • Jul 20, 2012 10:04am Jul 20, 2012 10:04am
Quoting -Melo-
AUD became very strong during the week. Tomorrow is Friday, people are likely to close few of their position and take their profits. I think that AUD will pullback down a little bit so I added a short on AUD/USD

Stop loss on AUD/USD at 1.0475. take profit will be near, a little bit below, the fib 61.8. I will add the take profit later on Friday

Im still looking forward to short the Yen. One mistake I made this week was to close my oil position a little bit too early. Oil price could go down a little bit for Friday. we still have sideways on...
price did reach fib 61.8. I mad 41 pip on this trade and decided to close it.

Happy week-end every one
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Alternatives are more important than the plan itself
  • #18
  • Edited 8:04pm Jul 22, 2012 7:51pm | Edited 8:04pm
Quoting -Melo-
we reached fib 50. Oil is very unlikely to stop now. im looking forward to long it again, unless something bad happen in China or Europe
A lot of bad news for this week. Bad expectation from China and new trouble from both Greece and Spain. Oil will no longer be able to break the fib 50 in my opinion. The problem is, I wont be able to short Oil, since the chart have disapear from my broker. I will long USD/CAD instead of Oil cause the canadian dollar will fall with Oil.
Stop loss at 1.0065 and take profit will be added latter on

I see Euro down to fib 61.8 on the weakly chart. Only bad news came from Europe so far, no one want to own this currency anymore.
stop loss at 1.233 . My take profit will be added later
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Alternatives are more important than the plan itself
  • #19
  • Jul 22, 2012 8:00pm Jul 22, 2012 8:00pm
Its a matter of time before the Yen fall. BoJ will never accept the level we are in now. Tuesday, we will have the trade balance, if its negative, the Yen will plummet. We just have to wait
Alternatives are more important than the plan itself
  • #20
  • Jul 23, 2012 7:32am Jul 23, 2012 7:32am
Quoting -Melo-
A lot of bad news for this week. Bad expectation from China and new trouble from both Greece and Spain. Oil will no longer be able to break the fib 50 in my opinion. The problem is, I wont be able to short Oil, since the chart have disapear from my broker. I will long USD/CAD instead of Oil cause the canadian dollar will fall with Oil.
Stop loss at 1.0065 and take profit will be added latter on

I see Euro down to fib 61.8 on the weakly chart. Only bad news came from Europe so far, no one want to own this currency anymore.
stop loss at 1.233...
We returned to Fib 61.8 now. Its too bad, if my platform worked well, I would have made more profit since Oil is more volatile thant the USD/CAD
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Alternatives are more important than the plan itself
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