TheTradingProdigy

TheTradingProdigy

DISCLAIMER: DO YOUR OWN RESEARCH REN will make you more money faster than dogecoin will? leave your opinions below I want to read them.

TheTradingProdigy

I didn't put glue on my hair but if I started a gofundme would you donate? I want to have a good amount of money to trade and take care of myself. Please don't comment anything negative I am just curious. I've seen people donate to others for a lot of things but would a bunch of people donate to jump-start a career?

TheTradingProdigy

Every time I'm on the internet I find a bunch of people talking about trading like it's the easiest thing. It seems like everyone is an expert and everyone is making 6 figures doing this. I have heard of a bunch of people turn 1,000 into 168,943.61+ or just have some crazy returns. Some say ohh I got lucky I know(I need some of that luck LOL) others say they are...

TheTradingProdigy

To long term success is this business you have to avoid using too much leverage! I recently did a challenge to see if I can actually make money with $20. The result of that was not so great ,and the main reason was because I went in too big.The fact is that making money with a small capital is very hard.For one you won't make much an any given trade. Second, you...

TheTradingProdigy Updated 

My first trade didn't work out which resulted in a $2.32 lost ,but earlier today I shorted Gbp/Jpy making back $1.32. As I was looking at this chart I noticed that this has formed an inverted cup and handle pattern.My plan is to short this and hold my position for a few days. I won't have any stops in place so this could end it all or it could be the start of...

TheTradingProdigy

Entry:1.34344 Tp :1.34067 SL :1.34500 Position Size .02 Currently down .97 cents Quote:″Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead."-Paul Tudor Jones Trader essential from Amazon 1. amzn.to -Tylenol Extra Strength Rapid Release (LOL) 2....

TheTradingProdigy

As of next week I plan to open a new account with only $20.Yes, I know what you’re thinking but this is why it’s called a challenge. My goal with this challenge is to see if you can actually make money with very little capital. I will only be trading currencies with 1:1000 ratio account. Now, how long could this last before going to zero? Will emotions take over...

TheTradingProdigy

So on one of my post I was looking to go long on this. I saw that this was bouncing back and forth from a certain area.I then waited to buy around the support area and then sold around the resistance.On this trade I made 38,152,000 which was insane! What I also noticed was this was forming a head and shoulder pattern which presented itself for a good opportunity...

TheTradingProdigy

Last week I was shorting this and was right on the money! It did exactly what I imagine it would do. Now, for this week I'm looking to go long hoping to catch some good pips. My entry on this 1.34159 and hoping to take profit at 1.34800.For this one I am going to use wide stops at 1.33700. Comment your thoughts below because my goal is to try to learn everyday and...

TheTradingProdigy

This pair seems to have formed a double bottom which could be indication for a long position.Wouldn’t be surprised if this shot up for some good pips. Entry: 140.258 SL:140.000 TP:141.529 Quote:’I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game’s winning shot and missed. I’ve failed over and...

TheTradingProdigy

what’s more effective having tight stop losses with bigger size position ,or having a smaller size position with a wide stop loss? Well as you know in trading every day is not the same. So you can do either or depending on how the day is going.For example if instruments you’re trading is very volatile it would’t be such a great idea to have a big position with a...

TheTradingProdigy

This seems to be forming a head and shoulders pattern. It would be smart to wait on this and then short for some good gains.On my last post I was looking at a long position and I was right on the money! Now we are still waiting for this to hit the TP to then take the short position.Shorting around 92.000 would be a good idea. Quote: “The goal of a successful...

TheTradingProdigy

Is paper trading worth to do before actaully trading real funds? I would say yes it’s a great way to get started.Paper trading is great to test out strategies as well. The only thing wrong with this is that if you start making money on a demo account it doesn’t mean you will make money in a live account.The reason behind this is that when you’re a demo trader you...

TheTradingProdigy

It's such an amazing feeling knowing that you can trade crypto 7 days a week 24 hours a day, because nothing is more annoying than the market being closed.If you love trading and you trade stocks you really have it hard almost everyday and even worst on Friday. For forex traders Friday afternoon are so depressing that you just want to take shots of tequila to ease...

TheTradingProdigy

This will be a good stock to look in the morning at open if you're the type to short stocks.ADVM had some great gains today because they had news released this morning. These penny stocks usually tend to move up for any reason and then drop the next day. On top of that it has also hit some resistance.ADVM will be worth to look at tomorrow morning at open. Quote:...

TheTradingProdigy

Have you ever had one of those days where everything was going right? You waited for the right setup, you had great position size, and everything went perfect.You made some great money and you feel so good about yourself. You start to think you’re a genius.You start doing the Mcgregor walk and screaming money ain’t a thang.This then leads you on into breaking all...

TheTradingProdigy

Well please correct me if I'm wrong which I may be like most traders.(Lol bad joke maybe?) Looking at this chart I noticed that this was creating an ascending triangle which currently has the pattern going up.My guess is that this will go up around a little over the 1.35000 to then come down for some good profits.Also, not to mention reports came out that retail...

TheTradingProdigy

Accepting that you were wrong has to be one of the hardest things in trading.The worst has to be when you’re on a winning steak ,and then BOOM you have that one trade that goes the opposite way of your entry.Even if you have a stop loss you start to move it further away allowing it to gift the market more money. You can’t take the loss because of your ego ,or...