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Attachments: My Fibonacci trading system
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My Fibonacci trading system

hi dear trader
the low or high of each pair in m15 is
changing very fast .
for example i see gbp high(1+) jpy low (-1)
so if i wait for entry in fibo level i can wait one hour
and when i see the entry fibo level
the gbp is near 0 and jpy is +1

so i have to look at the power again before i enter
the trade .
is it ?
To those of you trading this method, how do you establish a daily long/short bias? Starting with Frankfurt open, do you use MAs or another indicator for direction or do you trade all setups (both long and short) based on the G_7 indicator? I see where sometimes you will have a short signal for a pair and then shortly after, you get a long signal for that pair. How do you determine which direction to take?
To be honest with everyone. I made a ton of pips with this method at the start of the week which was monday and tuesday. I gave back precisely 38% of my winnings of those two days back to the market on thu and friday. I did not trade wednesday. (thank god for scalps)The moment WS3 was hit, this method did not work on 15 minutes setups. all of them hit stop losses. The trend was wavy and could not decide where to go. I could not notice any perfect setups on 1 hr as well.Either the trend changed rapidly or it did not retrace to even 50%. the fundamentals were a bit screwed up this time. Anyway no worries, lick the wounds and carry on. scalps worked for 15-20 pips many times else my losses would have been higher. Just goes to say that when the market is behaving in such a way, stay out!!! The weekly trend still shows down but the daily shows up again. This is the time when retailers should stay out. The chart i mentioned with momentum was perfect. Trade the direction of weekly trend and add more lots when daily supports it.
I am hoping for a sell off again next week as friday fundamentals rose the USD against yen without much of a reason. The moment Fed chief spoke, the markets went crazy. Monday could be more of a consolidation and hopefully a breakout to the downside. I am flat now. The last trade was stopped out when eur/jpy hit monthly S1. Fridays have always been a loser, i don't know when i can contain my addiction to trading on fridays.

Regards.
STING
Hello Everyone,

I tried to setup the G7 indicator on my IBFX mini account, but I don't see anything inthe G7 indicator window. Is this because the IBFX mini account charts use an "m" at the end of all of the FX pairs like EURUSDm? Does anyone have the G7 indicator for the IBFX mini account?

Thank you very much.

=)
Quoting jicssbr
Hello Everyone,

I tried to setup the G7 indicator on my IBFX mini account, but I don't see anything inthe G7 indicator window. Is this because the IBFX mini account charts use an "m" at the end of all of the FX pairs like EURUSDm? Does anyone have the G7 indicator for the IBFX mini account?

Thank you very much.

=)
Edit that .mq4 file and pair such as EURUSD, add a m at the back forexample: EURUSDm

Only have to do with all the displayed in paired.

Chrisyeap
Attached File(s)
File Type: mq4 G7_USD_v1.3 - IBFX.mq4   11 KB | 679 downloads
Thank you Chrisyeap, I appreciate it. I'll give that a try.

=)
Quoting stringfx
To be honest with everyone. I made a ton of pips with this method at the start of the week which was monday and tuesday. I gave back precisely 38% of my winnings of those two days back to the market on thu and friday. I did not trade wednesday. (thank god for scalps)The moment WS3 was hit, this method did not work on 15 minutes setups. all of them hit stop losses. The trend was wavy and could not decide where to go. I could not notice any perfect setups on 1 hr as well.Either the trend changed rapidly or it did not retrace to even 50%. the fundamentals...

Hi Bro..really appreciate to read yours Am still new here..what a free good chart for you to trade FXCM chart is not good for Fibo analysis is this really their intention that make me difficult to analys the market?..Thank in advance Bro! really appreciate for your comment...Mucho Gracias.
Hi all,

Its really a great system .I just observed one trade in Eur/Jpy .Please see whether My understanding was correct.

1. I didnt use G-7 Indicator.Going forward I will use it compulsorrily.
2.Swing High -113.74
3.swing low - 113.35 = 39pips decline ( As per system minimim it should be 50 pips right?)
4.Retracement
5.reistance at 61.8 leveli.e:113.59 .then KD is in overbought zone .A shooting star ( marked in first red arrow) followed by a bar the height of which is lower than the previous bar's high.My short entry is on 3rd bar from the shooting star.113.50 ( marked by 2nd red arrow) and stoploss is at 113.60- that is Top of shooting star ( or 61.8 level ).
6.FE 61.8 is 113.29 cover half and move the stoploss to breakeven and then cover other half position at FE 100 @113.14.

Attached Image (click to enlarge)
Click to Enlarge Name: eujpy.jpg Size: 195 KB


Humbly request you to evaluate as I want to trade this system forever!!!.

Regards
Inditrader
Attached Image (click to enlarge)
Click to Enlarge Name: eujpy.gif Size: 24 KB
Regards Inditrader
maybe this indicator will help you
Attached File(s)
File Type: mq4 xMeter Indicator3.mq4   12 KB | 618 downloads
Seems to be a perfect setup for selling Eur/jpy to 123.6 fib
check chart.

JD and chris. Please check this out. thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy11oct.jpg Size: 229 KB
STING
TP1 - 112.8, TP2 - 112.75 and TP3 - 112.58

Sting
STING
JD and chris,

As mentioned, tp1 hit at 112.85. Now moving SL to breakeven on 2 other positions for a free ride to 138.2 and 161.8.
STING
The other 2 positions stopped out at BE +3.
STING
New trade setup:

market order buy limit at 114.05 for a TP1 of 114.64 (123.6), TP2 of 114.74 and TP3 - 114.90

SL - 113.90.

Check chart for reasons.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.JPG Size: 189 KB
STING
Will this AUD/CAD work out? time will tell..
Attached Image (click to enlarge)
Click to Enlarge Name: fib.jpg Size: 153 KB
I found G7_USD currency strength indicator on this thread. I found it very useful. I do not know the original author of this indicator but thanks to original author for sharing this useful G7_USD indicator. However, I see that one currency missing from this indicator which is NZD. NZD being one of the most volatile currency -- for example GBPNZD is one of the highest average PIP range per day pair. Therefor, I thought it would be useful to update this indicator with NZD and make it G8_USD indicator and post back on this same thread. I hope this will be useful for the traders who are interested in NZD.
Attached File(s)
File Type: mq4 G8_USD_v1.1.mq4   13 KB | 925 downloads
AshN
Dear James, that chart is of 13th Oct and i think you did not check the G7 indicator. Athough CAD is above +1, Aud has not touched -1 or even below 0 so according to rules, price can go anywhere.

If you check the current chart of the same pair. price is bullish. here is a chart. Hope you understand the technique and please follow the rules for profitable trades.

Regards
Sting.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.jpg Size: 206 KB
STING
Quoting stringfx
New trade setup:

market order buy limit at 114.05 for a TP1 of 114.64 (123.6), TP2 of 114.74 and TP3 - 114.90

SL - 113.90.

Check chart for reasons.
sorry about the late reply...
Price did not retrace to 38.2. bought from 76.4 to tp1,tp2 nd tp3 . TP1 hit and TP2 & 3 stopped out at breakeven +3.

Regards
Sting.
STING
Quoting whatfx
this is very confusing. can someone please gather all the rules for this system and write it down in simple english.

this would be of great help to everyone.

also, what has happened to the original guy who started the thread ?
I think he has been disqualified to continue posting in this thread since he became a commercial member.
Quoting netFX
I found G7_USD currency strength indicator on this thread. I found it very useful. I do not know the original author of this indicator but thanks to original author for sharing this useful G7_USD indicator. However, I see that one currency missing from this indicator which is NZD. NZD being one of the most volatile currency -- for example GBPNZD is one of the highest average PIP range per day pair. Therefor, I thought it would be useful to update this indicator with NZD and make it G8_USD indicator and post back on this same thread. I hope this...
Thanks for the update with NZD pair great job also I liked it its been included alert option.

But I noticed puting G7 and G8 indicator side by side when G8 one of the currency is touching level 2 G7 is not touching its like 0.2~0.5 less than G8 can u please look into the coding if somthing could be defferant to the original one.

I am still playing with the alart option still did not figure out how to use it properly, do u have to open each pair chart to have the alart for a perticuler pair or can u run only one pair and can u get alart for any of the G8 pairs? if u can explain a bit how to use the alert setting will be great.

Thanks
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