Mysticforex

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While Putin is preparing to have some fun roughing up the hapless Ukrainians, the ruble has been sinking. The Ukraine instability is one reason, but there might also be a ruble run as money is fleeing from emerging markets. How long will this last and how long before Gasprom raises the gas price for all of Europe? It is unfortunate that Western Europe has a bully for one of their near neighbors. Since they are so reliant on the Russians for their energy needs, the European economy is vulnerable should the Ukrainian crises accelerate. While the euro may be gaining on the ruble today, however, it would not take much adversity to end the tepid European recovery.

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We have the largest field yet for the March contest. I was mistaken the other day when I stated there were 4 days left to join. The contest starts on March 3rd, so you can join up to 11 PM on March 2nd. Join here: https://fx2.oanda.com/mod_perl/fxcon...m=listContests

No, What I said is to believe in yourself. That does not mean one is always right.

When Will USD/JPY Break Out of its range?

Yes, There is a Max Drawdown of 10%

--------------------------------------------------------------------------------------------------------------------------------------- 4 More days to sign up for the March Contest. https://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=listContests

EUR/CHF has been in a very long 1.2200-1.2500 channel spanning several years. Every time it has approached the 1.2100 level the pair has been able to rally, but if support is broken the cascade of stops could accelerate the momentumto a true test of the 1.2000 level.

ECB President Mario Draghi said after a Group of 20 meeting in Sydney yesterday that policy makers are ready to add to stimulus if the outlook for prices deteriorates, though there are currently no signs of deflation in the euro area. “The market may start to focus on that domestic weakness in Europe,” Ken Dickson, an Edinburgh-based director for foreign exchange at Standard Life Investments Ltd., said in a Feb. 19 phone interview. Scotland’s second-biggest money manager, with about $297 billion of assets, sees “fair value” for the euro at $1.29, Dickson said.

The Abe recovery plan has been criticized for the ever increasing deficit spending combined with the lack of government revenue. Commencing in April the sales tax will increase from 5 to 8%. While retail activity ahead of the tax increase will be brisk, the government is fearful economic growth in the 2nd quarter will falter.

Rule #1. Buy Low and Sell High.

What's more important the way you manage your winning trades, or the way you manage your losing trades ? The winning trades take care of themselves. The way you manage the losers is what will make you or break you. Decide what is the max you are willing to lose. Let's say you have 40K in your acct, and the max you are willing to lose is 10K. And you should never risk more than 1% on any single trade... or $100. So, you can take a 10k position with a 100 pip stop, a 20k position with a 50 pip stop, etc. It's all about : Selection_ Try to take a strong currency against a weak currency Size_ If your analyse tells you, you need a 50 pip stop, then you can take a 20K position. Scale_ Weather or not you are going to scale out with your profits. with a 100 pip target do you take half off at +50 to cover you ass? Stop_ Self explanatory , use a STOP. SSSS.

AUD/USD: The daily candle closed bearish, just missing a recent high from Jan 13th 2014 Look s like resistance at the upper B band. Also , on the weekly chart it seems to have resistance at the middle band. I don't use BB. I do know one well known analyst who would consider the daily chart, with the candle between the middle and upper band to be in the "Buy Zone". I have a hard time subscribing to that. Any regular BB users out there care to give an opinion? ( the daily should have been first, I got it reversed. Sorry).

Agree... but I think 14000 will be a tough nut to crack. Big round number.

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The hardest part is gaining confidence in your analysis. You must believe in yourself. Then the mindset. Being a Trader is not what you do, it's what you are. Your first goal should be to become a trader. Not to make money.

A friend. Ralph Shell. Met him about 6 years ago. His Son in Law , and partner have over 41K Forex IB accts. You can sign up for his blog here: CASH BACK FOREX REBATES | WE BEAT ANY COMPETITOR RATES! It's free. Short Bio: His graduate studies were in economics and history at Duke University. Shell has ten years experience trading cash commodities in domestic and export markets. He is also a former commodity analyst with Merrill Lynch in Chicago. Shell was a member of and floor trader at the Chicago Board of Trade for 18 years. Shell is now located in Palm Beach County Florida.

-------------------------------------------------------------------------------------------------------------------------------------- The line up for March so far.

-------------------------------------------------------------------------------------------------------------------------------------- The line up for March so far.

As for the Tax part. I remember the first time I had a full IRS audit. I was scared shitless. It turned out ok. Seems my wife thinks lipstick and eyeshadow are Tax deductions. I think our returns are flagged now, have been audited twice since then. Now it's just a pain in the ass.

" I can't stand it when I see people in a social setting engrossed by texting, " They shoot people in Florida for that.

EUR/AUD is now at critical 1.5000 support and a break there opens a run towards the 1.4800 level while a take out of the 1.5200 figure suggests a possible move towards the 1.5500 level.

Last week the market hurt the euro shorts Part of this may have been the poor NFP in the US. The market momentum then took the EURUSD to the cusp of the 1.37 handle before relaxing. Today, news that the ECB is considering a negative interest on deposits at the central bank took the market lower, and the pair down under 1.36. Tomorrow is US Retail Sales, which even if they remain the same might be considered good with the harsh Winter we have been experiencing. And on Friday is European GDP. Europe has shrugged off the recession, but their economy remains the global laggard.

Ever come across something you would like to mention, but it's not in depth enough to start a thread ? Have a pet peeve ? An avocation you enjoy? Anything goes, but no Trading talk. Computers are supposed to make life simpler. To keep us connected. But how do you manage your passwords ? How frustrating is it when you can't remember a password or can't find where you wrote it down. Trading accts, TL, Facebook, Twitter, Itunes, Amazon, Google, etc, etc, etc. I just started using a product from a company called RedZone ( I don't work for them ), it's called "Password Safe". It looks like an old fashioned calculator. Works on 2 AA batteries so the info is never online. All you need is a single 4 digit pin and you you access and or store up to 400 passwords. It's about $60 bucks ( USD ). One less hassle .