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Anybody use Bollinger Bands that use fibonacci ratios?? 15 replies

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Anybody trade using only fibonacci or just one indicator?

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  • First Post: Mar 24, 2007 6:33am Mar 24, 2007 6:33am
Hi all, it would be interesting to hear if any of you people trade solely on fibonacci ratios and can achieve consistent results.What about those trading with just one indicator?
Quoting caventou
Hi all, it would be interesting to hear if any of you people trade solely on fibonacci ratios and can achieve consistent results.What about those trading with just one indicator?
I like moving averages, candlesticks, multiple time frame charts, bloomberg's news and web forums for news stuff too.
I don't like the numbers but I love the Italian's soccer and their country.
Quoting mdetlh
I like moving averages, candlesticks, multiple time frame charts, bloomberg's news and web forums for news stuff too.
I don't like the numbers but I love the Italian's soccer and their country.
Perhaps it is relevent as the son of Bonacci was Italian {3-3 Eng v Azure U21 btw}

But, more to the point, I personally keep Fib Levels {not neccessarily the common plots} in mind when Trading. However, they are not what generates my signals. More of a confirmation really.
Lol, thx for the replies though. Would be interesting if ppl just trade off the fibonacci which I think is possible, just that I haven't looked more into it. The key levels being 38.2% , 50%, 61.8% should provide some nice opportunites but of course still need some research on how to trade along that idea, or can somebody provide links to any pure fib trading style that would be nice.
Quoting caventou
The key levels being 38.2% , 50%, 61.8% ...
Actually, I find if the 23.61% holds, the Trend will hold also. Same goes for 76.39%.
Quoting Bemac
Actually, I find if the 23.61% holds, the Trend will hold also. Same goes for 76.39%.
Thanks for the tip, Bemac. But do you need to compute the values to four decimal points? Perhaps if you are performing the analysis on a large time frame, then the fourth decimal figure would represent about one fifth of a pip or so. Can you perform the analysis with that degree of precision? I'm a bit confused.
I am very interested in hearing what some veteran traders have to say on this subject.

I am currently testing a simple system, using only the fib levels.

Basically I added 2 more levels to the fibs the first is 75 and the second is
-38.

I plot the fibs on the recent move on the 4H chart also keeping an eye on the daily incase a bigger move is playing out.

My entry is the 50% level and my stop is back at the 25% level my first profit target is 0.0 where i bring to b/e and final profit target is the -38 level.

This gives a win-loss ratio of just over 1-3.

I have back tested this alittle and it seems profitable, even if you only get 50% wins you will be way ahead because of the risk reward ratio.

I am looking for something to filter the bad trades if anyone knows anything?

I have attached a pic to explain a bit better.

S
Attached Image
Quoting caventou
Hi all, it would be interesting to hear if any of you people trade solely on fibonacci ratios and can achieve consistent results.What about those trading with just one indicator?
I only use bollinger bands, and am reasonably successful

Kevin
bollinger band sounds nice on the daily but anyway that's good if u are just using an indicator, still trying to figure out how to trade effectively with fibs only...
Dear Friends,
I trade using only advanced Fibonacci Patterns that is patterns in Forex charts that include fibonacci analogies. These patterns give me low risk hi profit positions.
Sincerely yours,
Louizos Alexander Louizos
Singularity is near....
i use ATR for s/l purposes, but other than that, i just mark off s/r with pretty horizontal lines
Working towards CME membership
Quoting alouisos
Dear Friends,
I trade using only advanced Fibonacci Patterns that is patterns in Forex charts that include fibonacci analogies. These patterns give me low risk hi profit positions.
Sincerely yours,
Louizos Alexander Louizos
Hi Louizos. Would you explain the term "fibonacci analogies" please? Do you mean fibonacci clusters?
Hello again,
an example will explain everything to you. Here is a recent trade I took using these fibonacci patterns.


http://www.forexfactory.com/attachme...1&d=1175154428

The chart is a recent USD/JPY chart
The fibonacci analogies that exist in this pattern are
AB=0.5XA
BC=0.618AB
AD=0.786XA
The signal is sell at D with stop loss at X level
This pattern is bearish Gartley.
As you can see these patterns give low risk hi reward trade setups.
Attached Image
Singularity is near....
Quoting caventou
Hi all, it would be interesting to hear if any of you people trade solely on fibonacci ratios and can achieve consistent results.What about those trading with just one indicator?
yes ,I trade with only one indicator ,only eur/usd 1H tf,but you have to make some changes to the parameters :
T3 period 8 and T3hot 8 ,colors 0 and 1 one color and 2 and 3 another color,open under 0 and above 0 and you can take your profit when the color changes or at pivot ,or whenever you want if you are confortable with your profit.here it is attached
Attached Image (click to enlarge)
Click to Enlarge Name: 856545.png Size: 50 KB
Attached File(s)
File Type: ex4 T3 Stlm histo.ex4   27 KB | 328 downloads
Trading Fibonacci ,Pivot points and S/R are described as level trading these levels are very powerful when used with the conjunction of price patterns like Japanese candlestick patterns,Fractals etc Because traders pay special attention to these levels which results in price play However instead of using only Fibonacci try adding fractals or Japanese candlesticks to the toolbox which helps predicting better price movements

Note: Try to find the fractals yourself on price don"t use fractal Indicator its lagging and useless!!
Gain or Lose there is always a winner named Market!!!
Fibonacci is useless. Indicators in general are useless. If they worked, then there would be lots of millionaire retail traders, which there aren't.
Quoting gravitist
Fibonacci is useless. Indicators in general are useless. If they worked, then there would be lots of millionaire retail traders, which there aren't.
^^BOOM!
I trade with Covfefe only.
Attached File(s)
File Type: ex4 COVFEFE.ex4   11 KB | 204 downloads
The funniest, is that nobody takes me seriously.
I forgot to mention that I use fundamentals for the most part while using channels and Japanese candlesticks as confirmation methods (or "head checks" if you will) for entries and exits. That's it.
I way is simple to go with anything in 100% way, it’s important not to have something just for sake of it. If we try to do that then we will only struggle, but if we go with what we really want to do in genuine way then we will always do well. It’s too often that people do what they see others doing or what others tell them, but it always lead them nowhere, so never work in that way.
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