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Mysticforex
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Everything posted by Mysticforex
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Try "Edit Signature", I think that's what you mean.
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Magnified Market Price: Magnified_Market_Price.mq4
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Radar Screen: This is measuring indi that I use. You see it in the uper right hand corner on my charts. monicaradar2..mq4
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Dailiy Pivot Points: Used to plot daily, S3, R3, and Weekly Pivots on chart. Levels will remain on chart. Daily Pivot Points.mq4
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Schaff Trend Cycle: Developed by Doug Schaff Schaff is a pioneer in building technical forex trading tools, including automated trading systems. His trading background includes stints as senior bank trader for Bankers Trust New York and Paris, and Chief dealer at Merrill Lynch Bank, where he established the Bank's currency options trading desk. He was the first person to trade a 10-year forex option. Schaff_Trend.mq4
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The FiboPiv indicator shows three fibonacci pivot support lines and three fibonacci pivot resistance lines. Size 5k: FiboPiv.mq4
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As usual TAMS, right on the money! Over the last few years I have taken on 3 students, never accepting payment. My goal was to maybe take them just one step in the right direction. To the best of my knowledge I have not been successful. It's frustrating at times, and I think to myself, "why should I bother?" I "bother" because I believe it's not just about take, take, take all the time. Sometimes you have to give back a little. If I can help one person, I believe my time and effort will have been worthwhile.
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Hi Daryl, I was getting ahead of myself. Instead of sticking to the 15M setup we were watching, I also posted the 5 min to show what I actually do. I entered the 15 min setup from the 5 min chart. It's something that comes with experience and familiarity with the Method, but probably caused some confusion because strictly speaking it is not part of the topic we are discussing. For the time being, we will stick to 1 TF at a time. Down the road we can expand a bit to show how more profit can be gained. So for now, The 15 min setup did open on a close below our Trend Line for a gain of about 62 pips. As for the 4 HR and Daily TFs, technically the probability should be the same on any TF. My subjective opinion is the shorter amount of time you can be in a trade, the less "exposed" you are. -
I'll will be doing a Webinar here at Traderslaboratory next Wedsday, February 23rd. It will be a general discussion about the use of Pivot Points in Forex. It is not intended to teach a system, just to possibly shed some enlightenment on some high probability occurrences in the Forex Market. I can touch briefly on a completely mechanical method, not automated, that has been successful for about the last 2.5 years. It's a set and forget, and let it rip. I don't use the complete method myself because to be honest, I am not a set and forget type of person. If You watch this setup play out, at times it feels like having your stomach pulled up and out of your mouth. I should also add that I am not a teacher, instructor, or mentor. Just a trader. So my presentation may be as smooth or slick as you are accustomed to seeing. Here's the link: https://www3.gotomeeting.com/register/145756302
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Tell us, What are your Hobbies ! I am sure a lot of us have a lot more in common than just Trading. Me, just about anything to do with The Sea. Scuba: I have been diving longer than I care to admit, over thirty years. For a few years I was a PADI Instructor. It was not a career choice, the Rating was a goal I had set for myself. My favorite type of diving are the Shipwrecks off the NE Atlantic Coast. Sailing has also been one of my passions. Relaxing cruising, Racing, or Heavy Weather. I'll take it anyway I can get it. And now, most recently, Motorcycles. What's your Hobby? Pool, Poker, Paddle Ball, Hiking, running, Spelunking, Coins, Stamps?
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Introduce Yourself Here - Don't Be Shy!!
Mysticforex replied to trading4life's topic in Beginners Forum
Hi Tim, and welcome! Ditto The Negotiator's sentiments completely! Not to go too far off topic here but, I just got my motorcycle endorsement in early Oct 2010. 4 days later I bought a new leftover 09 KAWI Ninja. 500cc. It's very forgiving, a good learner's bike. As a matter of fact, the temps here hit mid to upper 40s today. Just got back from 2 hours of twisties. What are you riding? BOING!!!!! A light bulb just went off. Think I'll start a Hobbies Thread in the Lounge. I'm sure a lot of us have a lot more in common than just trading. -
When I was in High School, quite some time ago, I played a bit of Poker. I always did well enough to have a bit of extra spending money. It sure beat a part time job of delivering groceries at the local grocer. My game of choice was 7 Card Stud, something you don't see as often as you used too. I guess it was replaced in popularity by Texas Hold Em. But anyway, here's my question. It may seem trivial, but if you don't ask you'll never know. Now my Poker playing is limited to the preloaded game of Texas Hold Em that came on my Blackberry. There is a Blue Chip that is rotated to each player when a new hand starts. What is that???
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Check out the thread "Must Read List"... Lot's of good stuff there.
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Well I'm out of this one, looks like we're going for R3.
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What Brownsfan states is correct. Within a certain time period you can edit or delete your post . If the time has expired, contact one of the Moderators and we can do it for you.
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Blowfish is also correct IBFX has MT4 demos that don't expire.
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I didn't short at the first close below the TL because the candles were kind of "Doji" looking. Did finally short at the Daily Pivot on a normal looking candle. Stop is above the most recent high@ 13440. I have a "Price Alert" set for if/when it reaches the TL on the 4 hour. If it looks like it's going to bounce I'll get out. If it looks like it will continue south, the next key area will be around 13210. BTW I have a reliable "FREE" price alert site that will send you an sms awhen price hits whatever level you select. If anyone is interested, leave me a message here on the thread.
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I shorted on a close below the 5 M TL ( upper TL ) TPed at the Weekly Pivot ( Orange Line ) just above the 15M TL. Expect to see a break below the 15M tL today for a trade down to at least the 800 SMA @15453.
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Ok, let me know if you need any help setting up an account.
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We would like to have a Forex Trading Contest for the month of March. The contest will be hosted on Oanda, one of our sponsors. If we can get at least 10 people interested, Let's do it. The contest will run from March 1st thru March 31st. In order to participate, one must have an Oanda demo account. If anyone needs help setting up an Oanda demo account, contact me here on the thread. The sooner you sign up, the more time you will have to familiarise yourself with the Oanda Platform. This is for "Bragging Rights" only. But who knows, if it gets popular maybe we can twist MadMarketScientists arm to offer prizes in the future. The winner will be determined by percentage gain on the account, not $$$ gain, I will post the results everyday here on the thread. Please use your TL user name as your user name when you sign up for the contest. On the results page there is no personal information displayed, nor will I as administrator have access to it. You can also withdraw from the contest at anytime. Anybody Game? I am posting an image of what a results page looks like.
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AUD/USD still meandering... This is like watching paint dry.
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Ok. we have broken our TL on the 5M TF. Broken the Daily pivot Point, and Hit the target of the 800 SMA Came within 8 pips of S3 ( I always use a 20 pip buffer and consider a point hit if it is within 20 pips. ) The trade has not opened yet on the 15M ( the lower TL), but the 800 sma is now visible 153 pips below. When we get to the lower TL on the 15M, watch for a break or a bounce.
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How many Psychiatrists does it take to change a light bulb?................... One. But the light bulb has to really want to change.
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Not to confuse the issue, but on the subject of MTFs. That is something you may want to start looking at once you have a lot of screen time under your belt with a single TF. As far as gbp/chf at the moment. We were watching the 15 min chart. Price has just broken R3 ( BTW I cannot remember the last time GBP/CHF did not hit R3 or S3 on a monday. Just knowing that information, A trader with experience should be able to devise a way to make money with that knowledge. Imagine taking one trade a week, on monday, and taking off the redt of the week ). At this point GBP/CHF is also beyond 500 candles on the 5 min chart as well. So let's look at the 5 min, draw another TL, and wait for a close below that TL. The Daily chart is in a strong bullish trend, but these small shorts on the 5M and 15M will just look like a hiccup on the daily.: Here's the 5 M Chart
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I should have added that if price comes down to the TL on the 4 hour TL, a bounce should not be totally unexpected. I that scenario unfolds, drop to a lower TF to determine direction. As an example, I caught a nice bounce off that TL last Tues, 2/08.
