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Simple Fibonacci Trading

Quoting K_Minos
EU H4 trade taken with the help of the fibonaci trade manager. So far so good it is a waiting game from now on. The trade was planed yesterday and nicely executed this morning while I was at work.

Good stuff
Hi K_Minos,

But you violated 100sma rule. 100sma is in a downtread and you are trading opposite.
So be careful.

Thanks,
Arun
Attached Image (click to enlarge)
Click to Enlarge Name: eu- h4.gif Size: 29 KB
What Goes Up Must Come Down, But When?
Quoting selym_co
Hi Hugh...as i see you are just trying to improve or re-alive Bobokus Fibonacci usage..I have used that method for a very long time with really profitable results.But i think u shud share Bobokus' ebook with the thread followers to make them understand the mentality better...It is one of the money-making methods on the forex market...but it has weak sides too !!

- Bobokus accepted %50 as a decision zone where bulls and bears will fight...and we will be following the winner in the basic mentality . But İt does not give max profit in every...
Hi, thanks for bringing this to my attention. I have never heard of the bloke but if he's already done something similar to my idea and it's already been discussed and developed then it makes sense for me to take a look and see if there are aspects of that previous work that will inform this discussion. I'll search for the thread and have a read.
Quoting nemesis1
Thanks Hugh, the title says it all: simple...not always accurate or perfect!!! Seems predominantly safe(oxymoron with forex)) and congruent with all other systems. Will definitively try. Never opposed to new ideas, information or knowledge. Thank you!!
Glad you like it, thanks for posting.
Quoting Danimal42
Nice thread Hugh. I use a fib indicator & an S/R indicator as well. I usually trade on the M1 or M5, scalping as the market moves towards Fibs, S/R or Psych levels. Here is a picture of the GBP. Looks like the 38.2 is holding its own. Its also a pivot level on my chart.

Dan
Interesting chart. Thanks for posting the indies too.
Quoting arunsudhilal
Hi K_Minos,

But you violated 100sma rule. 100sma is in a downtread and you are trading opposite.
So be careful.

Thanks,
Arun
I agree, that's definitely buying into a downtrend.
Quoting arunsudhilal
Hi K_Minos,

But you violated 100sma rule. 100sma is in a downtread and you are trading opposite.
So be careful.

Thanks,
Arun

Hey guys,

This is the h4 chart and I'm using 35sma, enought fo defing a trend.

Anyway this is a demo so no worries, I did draw the fib after the price has checked the 23 line.

Cheers
Riding this one since 109.30

Thanks,
Arun

NB: its a JPY pair
Attached Image (click to enlarge)
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What Goes Up Must Come Down, But When?
Quoting arunsudhilal
Riding this one since 109.30

Thanks,
Arun

NB: its a JPY pair
Yep, nice trade there, well spotted.
Quoting arunsudhilal
Riding this one since 109.30

Thanks,
Arun

NB: its a JPY pair
Perfect setup with a nice pattern at 50%
MT4/MT5 EAs/Indicators/Alerts coder
Hello there Hugh. I have been learning Fibonacci for several months. Own success has been minimum. Your thread brings me a new hope. Thank you for its creation.
I have not been a big fan of fibos but Hugh has explained and shown us how to use them. I start demoing this Mon. a.m. I only trade the NY session and I think the gbp/usd will offer the "smoothest" trends, I'll see. If anyone has a better suggestion please fire away.
...this appeared to be what the name implies, "Simple". ...so, decided to give it a try, mini-lot size.

Entered Long at 20:04 GMT (12:04 PST local)
Price: 1.31825
SL: 1.31155
TP: 1.32750

Hit TP at 09:32 GMT (01:32 local)
Pip Gain: 82

A 82-pip gain is a nice way to wake up and start the day.
Will continue with mini's until "very" comfortable with this method and shows positive results.

Thanks Hugh for your efforts!

C..101

Quoting piprac
I have not been a big fan of fibos but Hugh has explained and shown us how to use them. I start demoing this Mon. a.m. I only trade the NY session and I think the gbp/usd will offer the "smoothest" trends, I'll see. If anyone has a better suggestion please fire away.
Quoting BarneyRubble
Hello there Hugh. I have been learning Fibonacci for several months. Own success has been minimum. Your thread brings me a new hope. Thank you for its creation.
No problem, glad you like it. Don't give up just because a few setups don't work out, when it does work you're banking good pips.
Quoting piprac
I have not been a big fan of fibos but Hugh has explained and shown us how to use them. I start demoing this Mon. a.m. I only trade the NY session and I think the gbp/usd will offer the "smoothest" trends, I'll see. If anyone has a better suggestion please fire away.
Glad to have you on board piprac, you've been a good contributor to the other thread, looking forward to a lot of quality input here.
Quoting Coast101
...this appeared to be what the name implies, "Simple". ...so, decided to give it a try, mini-lot size.

Entered Long at 20:04 GMT (12:04 PST local)
Price: 1.31825
SL: 1.31155
TP: 1.32750

Hit TP at 09:32 GMT (01:32 local)
Pip Gain: 82

A 82-pip gain is a nice way to wake up and start the day.
Will continue with mini's until "very" comfortable with this method and shows positive results.

Thanks Hugh for your efforts!

C..101
Nice one. From your post I gather you didn't take half profit at the 0% level?
...I failed to mention that I only placed one order and I cannot split a "mini"....

Thanks again....

C..101

Quoting Hugh Briss
Nice one. From your post I gather you didn't take half profit at the 0% level?
GBPJPY.
What do you guys think?
Attached Image (click to enlarge)
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traders who trade this system, what si win ratio ?
Hugh -

I have looked at 10 pairs on the 4H TF and there were no 50% retracements; there were two on the 1H. This was after the FRi. close so action was frozen. I assume there are more opportunities on the lower TFs (which I haven't looked at below 1H yet) meaning of course there may be pullbacks blowing through the 50% level in the wrong direction. In post #1 I see you prefer5 & 15M TFs so many trades possible but fewer pips.

Your thoughts please and thank you for the thread. I make stupid entries on your stochastic strategy so maybe having some "lines in the sand" will help me be a better trader. piprac
Hugh,

I have been following your system and agree that the system has great potential of helping those of us that believe in Fibonacci.

Kindly help me identify how to make my drawn fib levels to show currency prices at the various levels. I could not see where to add the "%$" as you stated in Post #1. I use Metatrader 4.

Thanks again for your sacrifices.


Okoli122402
the Lines are fallen unto me in pleasant places
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