Fibonacci Trading with Bobokus

Quoting Thexder

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It has helped me focus, for the first time I don't feel like I'm flailing around in the dark. I know different things work for different people and what works for one may not be directly transferrable to the next person successfully, and I think I'm finally learning how to learn..that's the trick I think. not learning someone else's method, but learning how to learn for myself what works.

It's like someone I knew in school once said. University isn't about teaching you a specific skill to cut you lose and use, it's about qualifying you to learn about your trade. After the fact I've realized that was true for me, I spend most of my career researching the new technologies and approaches to things, I don't follow some set of rules laid out years ago by someone.

Thanks for teaching us how to ground ourselves and look out for ourselves from that point. There is no grail except the epiphany we find ourselves in separately when the time is right. I've never felt more focused before the guidance in this thread.

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Quoting SKUNNY

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The last 3 post are spot on.

In order for a thread to work people need to practice and back test the crap out of any system. Bo, you have an incredible amount of knowledge-about what you alone have discovered. It wasn't something somebody gave you to follow, it was a culmination of ideas and hard work.You have already given the tools needed and the traders that decide to back test or Vhands trade this system will understand how trading actually works, the traders that want you to tell them everything you do don't understand you can't teach that part (it's experience).

Bo, you are giving people a gift here and they need to use it to their advantage, whether they try to follow every footstep you take (near impossible, no...impossible) or implement it into their own style (I suggest). It is human nature to try and solve WHY DIDN'T IT WORK, the fact is, it won't always work, back testing will show this. There isn't "1" reason why trades don't work, because what would have fixed one trade would ruin another. It's a game of odds and money management. Bo, you've tilted the odds tremendously in your favor. With sound money management you'll have millions in no time, I have no doubt. People inherently drift from the original idea, they add MA's or different pairs or some bells and whistles indicator, that's all fine and good, but learn the system the way it was intended to be learned first, then add all your whit and wonder to it. I hope someone understands this because it's important. Cheers!

Great work Bo !

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Quoting Bobokus

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Yes, its all about learing the market first what makes it move then finding the method that works for the individual. There are some very good threads on this forum with methods that have great potential but without any understanding of the markets a new trader is just pushing the buttons and wondering why it doesnt work when they trade something someone else is very successful at.

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Quoting mattrader

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Hi Bobokus,

I have been away quite long time busy at attending personal matters. Good to see this thread developed well. Your are truly fibo master!

From my observation, your method very good for knowing what the price gonna made, up or down, market in trending or ranging. As i left too long, i think i have to read this thread from the beginning to understand well your method.

Just my silly question, the intermediate fibs level is for what purpose?

Thanks again.

mattrader

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Quoting TEugene

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Hello Bo and Skunny,

I find your views on the last two pages very encouraging. For awhile I have been saying you cannot teach someone to trade. You can give the information but they must teach themselves from their own desire and dedication. A basic knowledge of the market makes a trader successful at any system. He already has an understanding about where price will go and how it will act getting there. The system is just a mechanism for choosing the trigger points.
I am also convinced that mastering one currency is a faster road to success than thinking your system will function the same in all currencies so trade them all. Twenty pips every day is easier and less stressful than the roller coaster mega pip ride. MM makes it happen! Just my view.

I am adding the intraday fib and swing fib to my "stuff" to help with the reversals and daily flow. I had started the intraday application just before you opened this thread so when I saw your name on the thread it was exciting. A better chance to learn from someone who knows, by experience, our best teacher.

I realized you were not covering all the details. An inexperienced trader can't apply it correctly anyway. I'm watching until I develope a feel for the movement. Not there yet.
Good trading!!

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Quoting MegaPips

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Hi Bobokus, please post the template and indicators you are using. I could not find any such detailed fibo lines as in your charts. Greately appreciate your sharing. Regards.

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Quoting Bobokus

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Actually there isnt a template, you just right click on the fib and change the fib properties to the settings from the first few posts of the thread. You can set the levels you want the fib to display as well as add a name in the description area.

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Quoting Bobokus

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What you are doing with this is learning how to follow the market and how to understand better what the simple Swing fib is showing you. Once price breaks out of the 2 lines in either direction where does it go a very high percentage of the time

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