- Joined Oct 2008 | Status: patiently growing wealth... | 2,655 Posts
John 3:16 - From THIS love no power on earth can me sever.
MTF moving average (price touch or nearby) alert 8 replies
MTF Moving Average 22 replies
Simple Moving Average Vs. Moving Average? 8 replies
MTF Moving Average 3 replies
Moving average MTF table 2 replies
DislikedOk i will try to answer this, i hope you understand me, this is more like a psychological game, if you loose big time in one trade, you lose faith, if you lose this loose confidence in your method, you put your pending on the 38.2, price keeps going, breaks the 50, the 61.8, and finally takes out your 100 pip SL, how much in one loss is that it could be 500 pips, it looks better to just loose less pips and if the 61.8 works, you will be happy recovering your pips, plus i had a very ugly experience with drawdown, so i don´t want to see a humongus...Ignored
DislikedStill following along with you guys here.
What makes you to determine to start looking long if the 61.8 level is being looked at as the hold to continue the down trend? If you buy at the short term 38.2, I guess you assume that the down trend is complete? Am I looking at it right?Ignored
Dislikedok last post on this: don't want to beat a dead horse but NO MATTER how you look at it, IT IS THE SAME DRAWDOWN!!!!!
If i sell 1 lot at 1.3000 and it hits 62 fib at 1.3500, then sell 1 lotagain and it hits 1.3600 then guess what. I just lost 600 pips. or if i sell 1 lot and it goes to 1.3600 then guess what i still lost 600 pips. the drawdown is the same!
but all of that aside. im going to try it out on demo for a bit to see how it goes
good luck to everyone and sorry i just have to prove my point. lol
will be followingIgnored
DislikedSay you have a downtrend and a fib pulled form the last swing high to the current swing low and price starts to retrace but doesn't ever get to the 38.2% fib. Do you just pull the swing low "00" down to the next swing low when it forms or do you move the entire fib to the new swing high and low? Also, do you ever go short at the break of the swing low point if it doesn't retrace to the 38.2% fib?Ignored