The Monday Accelerator

[Mysticforex 13]

Technically this is December, But I already thought this weelend to be the last of the season. So here we go. It would be nice to finish off on a positive note.

 

 

GBP/CHF: The WP is at 14787. we are placing a short order entry at 14837. Price is currently at 14839.

[Mysticforex 13]

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Price is now at 14915, it has moved away from the WP. I like this. I will keep this entry order open till thursday if need be.

[Mysticforex 13]

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Price is coming down after all. I would not be surprised to see our order picked up today.

we are 10 - 12 pips away at the moment.

[Mysticforex 13]

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GBP/CHF: Trade open

[Mysticforex 13]

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GBP/CHF: Position still open, currently up 11 pips.

[Mysticforex 13]

GBP/CHF: Price has come down to hit the WP and the trade has closed in profit.

+ 40 Pips.

 

 

Like I said in the beginning. This is not a master plan to accumulate all the money in the world., just a little gimmick to get a modest piece of pie. A piece here, a piece there, and the mouse is well fed.

 

Here's a story. It's true. I have a Captains License. 100 Tons Near Coastal. When I could get the work I would do Yacht Deliveries ( I could never make a living at it, but for me being paid to sail a boat was great).

A friend of mine, Captain Rick, got a job to pick up a 40 ft sail boat in Antigua and deliver it in New London CT. Roughly 1800 miles. Rick was the Captain of record. I and another friend were mates. During the entire passage Rick was constantly coming up on deck to trim the sails. It got to the point where it was becoming annoying. I finally said something to the effect of "Jesus Christ Rick , relax, at most we are gaining a 1/2 knot an hour."

He said, " that means I will be home with my wife 1 day sooner". He was right.

So the moral of the story is that no matter what you can do, no matter how small it may seem to advance yourself toward your goal is worth it.

[rajtpd 10]

Thanks for posting these. I been following your trades and have one question regarding WP. What formula are you using to calculate your WP?

 

My formula always give me +/- 5.

 

Regards,

 

Raj

[Mysticforex 13]

Thanks for posting these. I been following your trades and have one question regarding WP. What formula are you using to calculate your WP?

 

My formula always give me +/- 5.

 

Regards,

 

Raj

 

High + Low + close /3

That's why I use the 10 pip buffer for the TP, different platform close the candle at different times.

If you use MT4 I am pretty sure I have uploaded the EA here. If I havn't I will make sure I do so. I am on my way out the door so it will be a bit later in the day.

[towtow 10]

Hi everyone,

 

GBP/CHF We have placed a pending short at 14745. The WP is at 14695 so our TP will be at 14705 ... . . just got in by the skin of our teeth.

 

 

EUR/USD: the other pair we picked for this week. Now I remember why we havn't traded the Monday Accelerator with it in the past, not enough range or volatility . The WP is at 13449 , price is at 13482. Too close to get a trade in. Nevertheless, we will watch it and if we get enough room we will stick a toe in the water.

 

 

Mystic,

 

I am following this thread and intend to give this method a try this Sunday. I have a question about the entry you made 11/17. I understand that the setup for this strategy is that price needs to get 75 pips away from the WP before you place your entry stop. For your entry on 11/17, I believe that price had only moved about 60 pips away from the WP before you made your entry. Does price need to get to 75 pips away, or do you just want price to get adequately far away so that you can get a stop order in there?

 

Thx,

Mike

[Mysticforex 13]

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The Monday Accelerator is over for now, But I looked at it anyway....I have an 11 pip spread.

What the hell hell is goin on with that ??? Anyone know ?

[Mysticforex 13]

Looks like price came down to the WP just to fulfill an obligation, then wnt right back up.

Did anyone take this setup this week ?

[Mysticforex 13]

Just a little update. The last post in this thread was Jan 09 2014.

 

The attached chart shows that every Weekly Pivot (orange dash) was hit except one.

 

The one that was not hit (highlighted in yellow) would not have opened a trade.

Last weeks WP opened but did not TP till this week.