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Mysticforex
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Everything posted by Mysticforex
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TP hit @ R3 + 63 Pis.
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Here's my setup on the GBP/CHF... 5M TF Price has been away from the 800 SMA for more than 2 standard deviations. A candle close abobe the TL will signal a buy for me. TP, the 800 SMA 100 pips above ( and just above R3. Remeber what I said about G/C and R3, S3 ). Support so far today is at S2, I have a feeling that we will see S3 before R3 though.
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That happens to me on a lot of Forums. Here's what I have learned to do. After typing a long Post or Reply, I copy it before hitting the "Submit" key. If it goes thru, great, if not I log back in, Hit Post or Reply again and "Paste" my message. Then hit "Submit".
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Here's one I've always liked. [ame= ]http://www.youtube.com/watch?v=puSkP3uym5k[/ame]
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Welcome Ullit4, Look forward to following your progress.
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Good Show. Maybe I didn't give enough notice for a March contest. So let's do April for sure. I'll lower it to at least 8 contestants. Start with any balance you like. Winner is determined by % increase, not $ increase. Once the contest starts, 00:00 GMT April 1st, Do Not Change your acct Balance! It will screw your % and Sharpe ratio and will disqualify you.
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Introduce Yourself Here - Don't Be Shy!!
Mysticforex replied to trading4life's topic in Beginners Forum
Welcome schwarzseeparadise! Absolutely, get involved. I would also second Tim's recommendation of "Think and Grow Rich". It's out of copyright and I have it in Ebook. Let me know if you would like it. -
Probably the most traded pair in Forex. I tend to shy away from trading it. Seems like I alway's get burnt on this one. I keep telling myself I will not trade it again. Then I see something on my chart that looks very promising, and jump back in. Only to get burnt again, or just get out by the skin of my teeth. So, maybe I can get some enlightenment from other's ideas on where they think E/U is headed. True Story: When I first got into Forex I decided I was going to be a Fundamentals Trader. I had heard of charts, but had never actually seen one. My very first trade was EUR/USD. I had just returned from Europe and it had seemed like it cost me a lot to exchange my Dollars for Euro's. So I figured the Euro must be hot. I bought 5 Standards Lots Long. Lost $1500 in a heart beat. Maybe that's why I am gun shy.
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A/u back up to 10175... I'm thinking about shorting again. On my way out ATM, will post some charts later.
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RE: GBP weakness. Recent turmoil in the Middle East, Gold reaching $1400, Oil testing $100. Yen, CHF, and the USD are considered "safe Havens" when speculators become "Risk Adverse", not so much the USD anymore. Although we did see a small rally in the USD on Friday.
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Out @ 16050 + 79 pips. My moving TP ( the 800 SMA ) is rising sharply.
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I guess we scratch this for March. Not enough time left to set it up. We'll try again in April.
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Here is the Missed weekly Pivot Point I referred to in Wedsday's Webinar, as a possible short target.
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Free Daily Price Action Forex Trading Strategies & System
Mysticforex replied to asiaforexmentor's topic in Forex
Thank you Asiaforexmentor, I moved this thread here to the Forex Section. I think all Forex traders would be interested in "Price Action, and Systems", not just beginners. -
Introduce Yourself Here - Don't Be Shy!!
Mysticforex replied to trading4life's topic in Beginners Forum
Hi Lightstar, and Welcome! Remember, the only stupid question is the one you don't ask. -
Welcome Pipstock, That's what we're all about. Dive in and don't be afraid to ask questions.
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This is one of my favorite Gladwell pieces... Blowing Up http://www.gladwell.com/2002/2002_04_29_a_blowingup.htm
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I just noticed that Oanda is now offering MT4. Has anyone tried it? I'm going to D/L the Demo and check it out.
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Introduce Yourself Here - Don't Be Shy!!
Mysticforex replied to trading4life's topic in Beginners Forum
Hi and Welcome! What will you be Trading? -
I would be interested in taking a short on a 1 hr candle close below the TL... Chart #1 Also MACD bearish divergence on 1 HR Chart #2 TP about 16075
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In the book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that ‘try their hand’ at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million!
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The Market_Index indicator shows the relative strength of the USD in conjuction with the EUR, GBP, AUD, CHF, JPY, and CAD. It is basically the market index of the USD. Market_Index.mq4
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I looked into it. I didn't realise One needs 150 posts to have that function. So start posting like crazy
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The usual deal is 1/2 in, 1/2 out. Unless they do a huge amount of volume. Then they could probably negotiate a better deal.
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How To Really Impress a Client. I was in the airport VIP lounge en route to Seattle a few years ago when I noticed Bill Gates sitting comfortably in the corner, enjoying a drink. I was meeting a very important client who was also flying to Seattle, but he was running a little bit late. Well, being a straightforward kind of guy, I approached the Microsoft chairman, introduced myself, and said, “Mr. Gates, I wonder if you would do me a favor.” “Yes?” “I’m sitting right over there,” pointing to my seat at the bar, and I’m waiting for a very important client. Would you be so kind when he arrives as to come walk by and just say, ‘Hi, Ray,’?” “Sure.” I shook his hand and thanked him and went back to my seat. About ten minutes later, my client showed up. We ordered a drink and started to talk business. A couple of minutes later, I felt a tap on my shoulder. It was Bill Gates. “Hi, Ray,” he said. I replied, “F*** off, Gates, I’m in a meeting.”