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slc12312 Feb 3, 2009 11:01pm | Post# 201

Andy, I PM'd you, hope you don't mind. I am in that EURO trade too. It looks good, hopefully all will go well.

3mmm Feb 4, 2009 12:52am | Post# 202

Sell limit vs Sell stop
 
Hello Robby !

Can you tell me the difference between the sell/buy limit order versus sell/buy stop order?

Also, I saw that you use fibo reds and greens, do you have some indicador to draw fib red or green dependig the direction of the draw (up or down).

Thank you for sharing you experience !

By the way, this is my first post in Forex Factory !

ozziedave Feb 4, 2009 6:58am | Post# 203

Baby Pips
 
Hello Robby !

Can you tell me the difference between the sell/buy limit order versus sell/buy stop order?

Also, I saw that you use fibo reds and greens, do you have some indicador to draw fib red or green dependig the direction of the draw (up or down).

Thank you for sharing you experience !

By the way, this is my first post in Forex Factory !
Hi 3mmm,

MT4 and most other trading platforms have a built in fib tool all you need to do is change the color of the lines. If you don't know the answer to these basic questions I suggest you go to the newbies section or take a look at this website

www.Babypips.com


This not meant to be rude but you need to do some research on your own.

3mmm Feb 4, 2009 8:55am | Post# 204

Hi 3mmm,

MT4 and most other trading platforms have a built in fib tool all you need to do is change the color of the lines. If you don't know the answer to these basic questions I suggest you go to the newbies section or take a look at this website

www.Babypips.com


This not meant to be rude but you need to do some research on your own.
Thanks for your comments, I know how change the color for each fibo, my question is, if there are some indicator that can paint "automaticaly" the colors, if you are drawing up so the color will be green or if you are drawing down will be red, I hope that explain better my idea.

Do you have some comments about the stop and limit orders?

Thank you !

WedWed Feb 4, 2009 10:09am | Post# 205

Thanks for your comments, I know how change the color for each fibo, my question is, if there are some indicator that can paint "automaticaly" the colors, if you are drawing up so the color will be green or if you are drawing down will be red, I hope that explain better my idea.

Do you have some comments about the stop and limit orders?

Thank you !

**A buy limit is used when you expect the price to go down and then go back up. In this case you cannot use a sell stop because if the price hits that point it will start selling rather than buying. Since the price is above the area and you want to buy you need to use a buy limit so that once the price goes down, it hits the pending buy limit order and starts buying from there.

**A sell limit, on the other hand, is used when you expect the price to go up and then go back down. In this case you cannot use a buy stop because if the price hits that point it starts buying rather than selling. Since the price is below the area and you want to sell you need to use a sell limit so that once the price goes up, it hits the pending sell limit order and starts selling from there.

3mmm Feb 4, 2009 10:35am | Post# 206

**A buy limit is used when you expect the price to go down and then go back up. In this case you cannot use a sell stop because if the price hits that point it will start selling rather than buying. Since the price is above the area and you want to buy you need to use a buy limit so that once the price goes down, it hits the pending buy limit order and starts buying from there.

**A sell limit, on the other hand, is used when you expect the price to go up and then go back down. In this case...
Thank very much, it is more clear for me now.

TheHefner Feb 4, 2009 11:16am | Post# 207

Robby
I loaded the moving indicator file into the platform. When activated, it doesn't look like any moving average I have seen. Any ideas what the settings should be?
If you see like a straight vertical line, then just switch to the daily TF and back. Should be fixed after.

slc12312 Feb 4, 2009 11:50am | Post# 208

If you see like a straight vertical line, then just switch to the daily TF and back. Should be fixed after.
Hef,
That is exactly what I got, a verticle straight line. Then reloaded it and it looked more like a tick line. Ended changing the MAPeriod to 50 as it said in the first post. Everything looks fine now.

Thanks for the post. Any idea how to post a chart on this thread, I have tried, but no luck yet.

thanks again

robby2007 Feb 4, 2009 11:51am | Post# 209

hi robby,

Had you ever faced such situation.

When the price moved down with no retracement.
When it start to retrace to 38.2%. You make a sell.
However, the price continue to move up and hit 61.8%.
You now loss 1 trade. Nevertheless, the sell order is make on the
61.8% with a stoploss of 100pips.

The price start to move down by not much and consolidate and start to continue move up and hit your stoploss. You now has 2 loss trades.

Assuming your early post. There is a trend change. I now need to change my
fib point and should not be using...
Hi, it never happened to me yet, i did loss 3 consecutive trades but my winning ratio is more than the loosing so i am up front until now

robby2007 Feb 4, 2009 11:53am | Post# 210

Bad day so far. Let's see how it goes by the end of day

Closed Trades
Sell AUDCAD (38.2) -120pips
Buy USDCHF(38.2) -70pips
Buy USDCHF (61.8) -100pips

Trades in
Sell AUDCAD (61.8) +60pips
Sell AUDUSD (38.2) -50pips
Sell EURUSD (38.2) -70pips
Sell NZDUSD (38.2) -5pips
Sell EURJPY (38.2) -93pips

Total current : -448 pips
Hello, i would like to see screenshots of those trades if you can please

slc12312 Feb 4, 2009 12:12pm | Post# 211

Current trades
 
Open trades:
EUR/USD +150 (.3 lots)
USD/CHF -24 (.2 lots)

Also had a pending for AUD/USD @618 the missed by 3 pips.

I am thinking of closing the EUR and banking the profit, or closing .2 lots and keeping the .1 to run with a trailing stop of 100 pips.

Not sure what to do with the USD/CHF, probable will let it run as the overall trend is still down.

Update: Closed USD/CHF, looks like the trend has changed, closed this trade at -28 pips (.2 lots). EUR/USD still open at +167 (.3 lots)

denverdude Feb 4, 2009 2:35pm | Post# 212

Missed trade but ...
 
Also had a pending for AUD/USD @618 the missed by 3 pips.
Looks like I'm getting the fibs drawn the right way .

I too missed that pending short on AUD/$ by 3 pips - would have been a nice one

thanks for the help robby.

AndsX Feb 4, 2009 4:01pm | Post# 213

6 Attachment(s)
Hello, i would like to see screenshots of those trades if you can please
Trade updates: Most of the trades are closed because of TS

Closed Trades
Sell AUDCAD (38.2) -120
Sell AUDCAD (61.8) +72

Buy USDCHF(38.2) -70
Buy USDCHF (61.8) -100

Sell EURUSD (38.2) +45
Sell NZDUSD (38.2) +12
Sell EURJPY (38.2) +76

Trades in
Sell AUDUSD (38.2) +1

Total : -85 pips

Here are the charts.
Click to Enlarge

Name: AUDCAD.gif
Size: 24 KB
Click to Enlarge

Name: USDCHF.gif
Size: 24 KB
Click to Enlarge

Name: AUDUSD.gif
Size: 24 KB
Click to Enlarge

Name: EURJPY.gif
Size: 24 KB
Click to Enlarge

Name: EURUSD.gif
Size: 24 KB
Click to Enlarge

Name: NZDUSD.gif
Size: 23 KB

Clode Feb 5, 2009 5:32am | Post# 214

50%
 
Hi Robby and hi to all the others,
I always take in consideration, for my normsal trading, the 50% retracement on the daily TF, in conjuction with support and resistence.

I've noticed that it is usable in Robby's method too... using 50 in alternative to the 38 Fib for the first entry could reduce the drawdown (manteining the stop loss at 61.8).
Sure we miss some trades but those we take are safer.

Just a consideration..

Clode Feb 5, 2009 5:39am | Post# 215

Trade updates: Most of the trades are closed because of TS

Closed Trades
Sell AUDCAD (38.2) -120
Sell AUDCAD (61.8) +72
....
Hi AndsX,
take in consideration that this method, like other using Fib and retracement, is more relaiable if the primary movement is strong enough.
With small movements Fib lines are close each other and become more difficult to trade..

Hope this help..

jinsen Feb 5, 2009 7:36am | Post# 216

About profit
 
1 Attachment(s)
Hi robby and all,


I just make a trade on eurusd, i believe that this trade should be quite ideal
and according to your system.

I shorted at 38.2%. From the 61.8%, it is around 62 pips. So i make a short at 1.2901. Can share what is your practise in this case, it already move 38pips in my favour. Would you placed it break even and then see how far it run. CAn share what your approach on this current trade

Thanks robby. Surprisingly if one stick and pick those trend with no retracement. The probability seem very high. I now got 3 system from FF.
Robby, sonic and phillip nel.

regards
jin
Click to Enlarge

Name: trade 2.gif
Size: 25 KB

okawa Feb 5, 2009 9:09am | Post# 217

hai robby,
im go throught your thread,
and im trying this.

is this right to draw a fibo for your method..?

http://usera.ImageCave.com/okawa/uch4.gif.jpg

robby2007 Feb 5, 2009 12:51pm | Post# 218

Hi robby and all,


I just make a trade on eurusd, i believe that this trade should be quite ideal
and according to your system.

I shorted at 38.2%. From the 61.8%, it is around 62 pips. So i make a short at 1.2901. Can share what is your practise in this case, it already move 38pips in my favour. Would you placed it break even and then see how far it run. CAn share what your approach on this current trade

Thanks robby. Surprisingly if one stick and pick those trend with no retracement. The probability seem very high. I now got 3 system from...
Iīm sorry guys for being away, i have some family issues and didnīt have the time to trade or post here, i hope you guys are doing ok, Jin i alway leave my trailingf stop, i will study some more MM options in the weekend, and let you guys know

robby2007 Feb 5, 2009 12:52pm | Post# 219

hai robby,
im go throught your thread,
and im trying this.

is this right to draw a fibo for your method..?

http://usera.ImageCave.com/okawa/uch4.gif.jpg
Hello Okawa, it is acorrect setup, but i would be thinking on shorting UCHF it is sitting right now on a nice resistance area from the previous highs, regards
Robby

slc12312 Feb 5, 2009 5:02pm | Post# 220

1 Attachment(s)
quote=robby2007;2518934]Hello Okawa, it is acorrect setup, but i would be thinking on shorting UCHF it is sitting right now on a nice resistance area from the previous highs, regards
Robby[/quote]

Robby
I can see a possible "short" short, based on resistance from Jan 23rd high and Feb 12 highs. But according to my charts, this pair is still in an upward trend . . . or am I seeing things wrong.

Does using the fibs indicate a trade here? Other than a retracement from the high, the trend is still up and the fibs show (to me anyway) a possible buy at any of the fib levels.
Click to Enlarge

Name: ScreenHunter_01 Feb. 05 13.58.gif
Size: 72 KB


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