Mysticforex

-------------------------------------------------------------------------------------------------------------------------------------- Forgot one very important item !

=================================================================== I keep CNBC have in the backround on my XM Radio.

I am going to pick up this thread this coming weekend. With the GBP/CHF, and as Midnight suggested some other pairs. The thread will have a new name, " The Monday Accelerator " So, if anyone has some pairs they would like to see tried, post them here and we will see how they fly.

Trading part time ? what else do you do ? If you had never gotten into trading what do you think you would be doing ? I had a business selling Automotive diagnostic equipment. I had that for about 15 years and did quite well. I sold the business in 2005 ( 55 yo ) and retired, or so I thought. Since my wife had not retired and has no plans on doing so in the forseeable future, I soon found myself bored out of my mind. It was about this time I discovered trading. I fell into it head first, with out a great deal of success at first. I kept at it and now enjoy moderate success. If I had not discovered trading I probably would find myself in the Marine Industry. I hold a 100 ton Masters License, with sail and towing endorsements. I also am a certified "Master Diver". I would probably be in business doing yacht deliveries, boat surveying, and some light underwater salvage and recovery. How about you ?

-------------------------------------------------------------------------------------------------------------------------------------- Well default was averted at the last hour.... I guess we will revisit this thread again in the New Year ! :haha::haha::haha:

What session do you prefer to trade ? London or NY. I am putting up a poll so please vote. For most of my trading career I traded the London Session. I live on the East Coast of the United States, so for me that meant waking up at 2 AM to start work. Except for longer term trades I would be done by 10 AM. So, if you trade a session because that's the time zone you live in then just vote in the poll. If you trade in the session because you think there is more opportunity, let us know why.

As i type this we are 16 hours away. Whenever I turn on the news, the story is the same. "The Senate is close to a deal". But they never pan out. I voted "Yes" as well, but things are looking grim. It sounds parasitic but I am going to start looking for short opportunities .

------------------------------------------------------------------------------------------------------------------------------------- Vote here. Will the USA default ?

So, you have been trading a year or two. You're not killing them but you are seeing more profit. You are headed in the right direction. Honestly, where do you see yourself in 3 years ? 100K a year ? between 200k and 500k a year ? I would really like to know what new trader expectations are.

Do you think the seat is real leather ?. or some form of synthetic product ?

for some reason your post made me remember how I used to dream about charts when I was first getting started. I think it comes from staring at a lot of charts

Hi MidKnight, Thanks for reading, you may be the only one ha ha This was developed about 5 years ago. Like I said in the beginning I haven't traded it in about a year. I still don't know what to call it, The person who brought it to our trading group's attention was Micheal K. He called it "The Monday Accelerator . According to him the G/C had the highest probability of hitting the weekly pivot ( at that time). Maybe next week I'll start a new thread called "The Monday Accelerator" and try it on a few different pairs. As time goes on we can drop pairs that don't seem to be producing, add new ones etc. Even just gaining small insights into pair behavior makes it worth the effort in my opinion. I know numbers are numbers and charts are charts, but it does seem like some pairs have their own flavor. GBP/JPY is called the Orient Express by some, and USD/CAD the Loonie.

We have followed this for 3 weeks in a row now. Because of the nature of the setup ( weekly ), We have had 2 successful trades and 1 no entry. It is not a fast paced thread and may not generate a lot of excitement. I don't even know if anyone is reading it. Like I said in the first post it's not a system. I am just trying to bring to light the fairly high probability that GBP/CHF makes a move towards it's weekly pivot, in a consistent manner that can be exploited. If anyone would like to see it again this coming Sun/Mon let me know, otherwise no sense beating a dead horse and I'll think of something to move on too. If anyone has noticed a different way, or variation we can try on this, let's try it.

Price has come up and hit the weekly pivot. 40 pips profit. Look at the attached chart, it's almost amazing !

-------------------------------------------------------------------------------------------------------------------------------------- The trade has opened and is currently up about 19 pips.

Hi TW, I voted "Divergencies". It represents a small part of my trading arsenal, but of those listed it is the only one I use.

This weeks pivot has printed at 14563. Price has not yet been 75 pips away but I am placing a buy entry order at 14513 with a TP of 40 pips ( 10 pips before the pivot ) and an SL of 60 pips.

That would be a good question to ask before you bought the system... Does the system require you to make discretionary decisions ? or is it mechanical in nature ? Profitability would depend on the cost of the system and the results you achieve during backtesting. Based on a thread you started a while back, "Trading Mindsets is 80 % of Success". a lot could depend on mindset. ( just a little tongue in cheek ).

The Weekly Pivot has been hit before we had room to place our entry. Too bad. It's a nice way to start the week with some pips in your pockets. We will of course tray again next week. BTW the Weekly Pivot has been hit 31 times for the las 31 weeks.

OilFXPRO, I don't mean this as a put down. I am trying to be constructive. Your goal is 100 Pips a week. Let's break this down and make it more manageable. 50 Pips a week. ( you have to walk before you can run ). 50 pips a week / by 5 trading days a week = 10 Pips a day. How long have you been watching the screen 16 hours a day? You have to eat, you have to void. So what is the quality of the sixteen hours? What pairs do you like to watch? Whether good, bad, or indifferent Have you received any education? Are you teachable ? Can you follow instructions ?

The Weekly Pivot has printed at 14612. Price is currently at 14634, less than 75 pips away so no entry for now. If price continues to move away from thepivot we will place an entry order 50 pips away, when, price is at least 75 pips away from the pivot. More to follow.

If we have a setup this Sunday Evening I will take it and post it.If we don't have a set up I will post and explain why. Good Week End All !

This is the basic idea.GBP/GHF does not always hit the weekly pivot, but on weeks when it moves toward the pivot and comes within 75 pips, it will then continue on and hit he pivot 93% of the time.

--------------------------------------------------------------------------------------------------------------------------------------- Yes. The TP will always be the pivot less 10 pips. Thanks for the catch.

Sometime around 03:45 EST, The TP was hit. +40 Pips.So that's it. as far as this gimmick goes trading is over for the week. This little Trick is called "The Monday Accelerator . It was shown to me by my friend Mike K. It ok to distribute, I just don't know if he wants to take credit for it. We will do it again next Sunday. After everyone has a grasp of what we are doing here, I will go into some variations for the really greedy people. Any questions? Remember, this is mt thread I don't want to see anyone attacking anyone else.