Mythsphinx

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Live Account

Education

Cashback

Joined Jul 11, 2017

Connections 1

Experience Less than a year

Location Australia

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Systems by Mythsphinx

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Recent Posts

Risk and Forex

1:100 and 1:2000 leverage makes no difference when calculating position sizes. The only difference is that you can open up more positions with 1:2000 leverage compared to 1:100. If you have a good plan and you have a maximum number of open trades that you allow yourself to take and remain loyal to t...

5064

Jul 23, 2018 at 14:15

I Really Need a Mentor That is Making Money

That's great. Keep it up. Hope you keep on improving on your trading and making more profit. Another thing I wish to pass on to new traders is that pips doesn't tell you if a system is profitable or not. My expectancy is currently -10.7 pips with +$0.98. So I'm expected to lose pips bu...

5454

Feb 01, 2018 at 08:43

I Really Need a Mentor That is Making Money

Hmmm.. Not trying to be rude or anything, but winning percentage doesn't mean a system is profitable. Example. Say someone have a 90% win rate. But the Risk: Reward is 10:1. What this means is every time that person wins, he wins say $100 but every time he looses, he loose $1000. So with a win ...

5454

Jan 30, 2018 at 08:42

I Really Need a Mentor That is Making Money

Thought I'd add this for the fun of it. I'm technically a multimillionaire in that currency and I've literally made millions in Indonesian Rupiah in trading. If I converted the dollars I've made that is. lol Don't take me too seriously. Just thought that this thread has become a ...

5454

Nov 29, 2017 at 07:38

Risk and Forex

We need to take risks to make money. But we need to take calculated risks to make consistent profit. Sometimes even with calculated risks, a black swan event can do a lot of damage to our account which can leave a scar on our psychology. The main thing for me is trying to learn not to attach myself ...

5064

Nov 26, 2017 at 15:49

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.

EURUSD	1.04782	GBPUSD	1.25922	AUDUSD	0.65184
USDJPY	154.279	USDCAD	1.39454	USDCHF	0.89124