- Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,486 Posts
MT4/MT5 EAs/Indicators/Alerts coder
Trading is this Simple? Finally Explained simple and clearly! 46 replies
I need an EA for my simple "Mother Candle Fibonacci System" 62 replies
What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies
Gp's simple daily fibonacci-based system 120 replies
Simple Fibonacci with candlesticks... 2 replies
DislikedThanks only possible with your EA. Some people will say that you could have still set pending orders but still not the same. Thanks very much for the work.Also to HughIgnored
DislikedOk, today was a great day. +143 pips. I've added more pairs, total of 10. This is my third day of trading this strategy and it is almost perfect. Hope it will continue like this in futureIgnored
DislikedSince TP2 is set at the -38.2 fib level, but often seems difficult to reach, I will be trading TP2 at the lower -23.6 fib level this coming week. Hopefully this smaller TP level will be overall more profitable than the longer reach to the -38.2 level.
Any thoughts?Ignored
DislikedI'm thinking about taking full profits at tp1, the 0.0% level. Higher probability maybe? I also think that moving to break even earlier would make sense, looking into it trading live so will take a while to see the effect.Ignored
DislikedThe original rules cancel the pending at the 61.8% ... but Hugh uses now the 75% with better success ... if I am right ...Ignored
DislikedHi, in my three days of trading I always took 0,0% level for taking profits. It seems to be ok. I also did manual trading, I haven't used EA yet. Is anyone trading this live? Is this strategy ready to be taken live?
Thanks.Ignored
DislikedI always trade live for small positions until I am more comfortable with the strategy and then build the positions up slowly. Before I go in with full positions I would like to get a bit more time to feel completely comfortable with the system. There is still a bit of doubt about how we find the trades, there seems to be a little bit too much guesswork involved at the moment even though most of the time it works out. I would love to find a method to make the selection of the swings and direction more mechanical. We'll see.Ignored
DislikedYes, I agree, there is too much guesswork. I found this thread this morning and I think it could be helpful. Take a look everyone:
http://www.forexfactory.com/showthread.php?t=308230Ignored
DislikedHi Hugh, good thread, fibs and trends, can't go too far wrong!
I know a really nice bottom and top forming fib structure... maybe something you could add...
Have a look on your charts at the end of strong trending moves...
So you could trade it long with the trend and then look for this structure to trade the counter move...Ignored
DislikedYes, looks interesting. Of course we could just do the leg work ourselves and draw our own support and resistance levels and trend analysis before taking a trade.Ignored
DislikedI'll do my best to help you and other traders make this a long term success.Ignored