First, I would like to say "thank you" to those who have helped me to understand the trading world. I am very fortunate to speak with so many traders on the internet... i literally enjoy staying up late each night just to hangout with people from around the world in a chatroom to discuss trading plans, current financial news, etc... I have learned a lot.
About Me
A little bio about myself, I am a junoir high student in Seattle, Washington. I am somewhat timid... I love this really hot Ukrainian girl from school... hot is one thing.. she is also ridiculous smart. all the popular kids are over her .. so i pretty keep it to myself. my family is somewhat poor. i wear clothes from goodwill. ummm... i totally hate my high school.. and I'll be taking college courses next semester.
My most recent venture was i created this really popular anime forums / video streaming site... and sold it for $8k plus.. so far i have not told any of my friends or parents. I like to be discrete about my life… Ideally, i see myself as this guy who is big on the internet... but nobody knows who I am in the real life. I like programming.. i self-taught PHP, JS, HTML, CSS, JAVA, and C++. I play Starcraft and watch Japanese Anime a lot. I like football... I am a big Tim Tebow fan.. he is sorta my idol.
My goal is to turn my $10k bank accounts to $100k after high school graduation. I understand that there are a lot of risk involved.. so even if I lose my entire $10k i would not mind. As of today, I have bought 500 shares of Zynga common stocks. I am holding this stock long... maybe till high school graduation. I will be using my remaining $5k to trade in the Forex market.
I do not have a career goal at the moment. However, I would to be a millionaire some days, date a lot of beautiful girls, and have nice cars. I have read that people with big ambitions tend to go koo koo at some points. Also, people who make a lot of money can be a prick / crazy wild.. so i do not want to have big ambitions.. or i dont want to make too much $ either.
I have been reading a lot of trading books, browsed a lot of websites pertaining to financial charts, trading systems, downloaded lots of ebooks, read lots of forum threads... i literally checked out all the financial and programming books from my local libraries. I have a mini library in my room from those books lol.... my favorite ebook so far is NickB's Method from forex4noob on trading price action.
My Trading System
Unfortunately, I do not have a concrete trading system yet... i am still in a researching mode. I have looked into price action, trading the bollinger bands, mastercandles, elliot waves, moving averages, scalping,volume trading, william %, including some non-sensical "holy grail" indicators. In reviewing these indicators and methods, i feel like Goldilock and the three bears. They are either too simple or too good to be true. What amazed is me how creative people are to determine the next moving price. The probability is 50:50 what the heck.. how complicated can this be...
I have big interest in the Ichimoku Kinko Hyo system. It is attractive to me because it is a simple system that allows me to simply gaze a chart of anykind of financial instrument and know that it is consolidating, bullish, or bearish with some certainties. In my opinion, Ichimoku also has complex elements that outshine itself from other trading systems I have looked into. Firstly, just by looking at a chart I know the market sentiments 9th period ago, 26 period ago, and 52 periods ago. Secondly, there are set of rules that i can simply follow.. like when comparing price actions against the kumo cloud I know whether the current price is bullish or bearish or consolidating. Thirdly, data from my backtests + realtime automatic demo trading have already yielded me promising results.
I have bought two books on the Ichimoku System. Manesh Patel "Trading the Ichimoku Cloud" and David Linton "Cloud Chart". I prefer Manesh Patel's …