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FIBO-ABCD Strategy Journal (Fib+TDTL)

  • #41
  • Jul 4, 2007 7:02am Jul 4, 2007 7:02am
Quoting forexnetworth
Greetings,

This is simply the best strategy for trading forex that I have come across after extensive research. Absolutely nothing compares. Please don't reconsider this strategy...you have a good thing going..just keep at it. To manage my risk, I don't place my stop loss at the previous significant high or low..I place stop loss 15 pips below the lowest candle at the fibonnaci level indicating the reversal. This will greatly improve your 2:1 risk to reward ratio. Also, I have found that the .786 retracement level is the best risk/reward point that increases your ratio by 3:1. All the best and happy trading.

regards,
forexnetworth
These patterns are VERY subjective. It all depends on where you start your X leg and also at what levels you will enter. The target profits are also extremely subjective. There is no "same way" for taking profits. Each trade will be unique depending on market structure. I find the statement It removes the subjectivity from trading to be farthest from the truth when it comes to these patterns. I have been posting my trades on this thread. http://www.forexfactory.com/showthread.php?t=30008
maybe this will help clarify things. Good trading.
Pippiper
  • #42
  • Last Post: Feb 14, 2015 6:49am Feb 14, 2015 6:49am
An EA to take profit at fib levels after trade entry needed to impliment this strategy in semi auto .
Know News/time; WAIT for Edge Entries, MPLC Normalization, Exits & TP's..
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