Fibonacci Trading with Bobokus

Now with the basic Indicators on the chart we want to see momentum turn up and price test the levels indicated by the Intraday fib and the Swing fib drawn in this case off the high from wednesday to the low today.
To clean things up a bit I remove the Swing fib and mark its levels with horizontal lines and now im free to use my Swing fib if price does in fact try and rally up now.
The horizontal lines are my resell points and price action will detirmine the entry.Only a break of 2.0411 will convince me to look and start buying dips.
Since i know I will most likely sell at these levels indicated i will watch the candle formations from the waveforms we get on its way there.higher highs and lows I buy dips up to these levels. (playing the retracement from todays move)A slow trickeling move up and I stay out......I will most likely stay out anyway because its the smarter of the moves,until resistance or support is tested.
If the Low of today breaks first Im selling the break and looking to the extentions of the Intraday fib as a target range and will begin to trail along with the swing fib to follow the market.

Is there an easy way to follow this strategy without staring at the charts all the time? Is there an alert or something that can be programmed (I'm not a programmer) to send an email when the market reaches an entry area?

I have been trying to follow along with this strategy but am missing out because I don't happen to be in front of the charts at all the right times. How do you go about it, just check the hour candles on the hour, or what?

I am looking forward to it. Do post them. It would be a good addition to a full trading plan. Have everything listed in simplicity so that all is needed is to go through a checklist before placing an entry.

That way you don't kick yourself after a dumb mistake and say "I should have known!".

If anybody cracks GY let me know, I have been working on that one a while. I have a strategy that works but only under certain conditons.

It takes the screen time if your scalping, just a couple of times a day if your trading off the daily.

This si similar to what I think your asking
http://www.forexfactory.com/showpost...postcount=5545

Hey Bud, how did you do this week? Did you have enough time to scoop money out of the pockets of unsuspecting indicator traders?

Relax everyone, I love indicators, used'em all the time and now they bring in more pips than ever before, the more the merrier.

If you think about it Bo.................... if you were selfish, you would promote indicators. Huuuh? Something to think about you silly little redneck. You might want to change your thread to Bo's Awesome House Of Indicators, between the 2 of us we must have a 1000 indicators in these folders/platforms. Hey, I got an idea, how about ebay? 1000 indicators for $2.99 all proceeds go to charity of course. We need to find some use for them.

Disclaimer: This post was not meant to pick on indicator traders, you can be very profitable trading with indicators(if you know how to trade first). I was just bored waiting for my lazy family to get out of bed so we can go get a tree.

Sorry Bo, but your thread is to informative and anal for me I needed to mess it up a little.

Is 140% in 9 trading days good ?...If so then yes I got my share.
Ebay/Paypal is too much trouble, and my neck isnt red this time of year.

I just got off the phone with your wife, she seems to think your neck is red year round. Liar!

So, you're saying you left some out there for next week? Did you fall asleep for a few days?

Yea i missed a couple of days in that account. Others were more important

Its not RED, she just wants it to be.

Are you serious?! Do you mean on your entire account? What kind of money management are you using?

Not in what i consider my main account no, this is in a fairly small account I used for scalping.10% margin.LOL.Yes its dangerous but its more a gambling account.

We touched on something a little last week, that I feel is important to pay attention too and its along the lines of the simple things that are overlooked sometimes but they are the most important.
Becoming too dependant on indicators we start to miss what the chart is actually saying about price when we watch what an indicator says about price, without the indicators on the chart we can see what price is telling us...which is the most important indicator of all (Price).
What I want you to do is simply go back over your charts...Bare chart preferably..no indicator allowed and see if you can tell what price is saying as you do this.
To do this we will use 2 simple horizontal lines( I use trendlines with the ray function off) mark each new high and low with these lines.I place a blue line on the highs (looking for it to break indicating long), and Red for the Low(looking for it to indicate short)
Higher high's and Higher low's= Market going up
Lower high's and Lower low's= Market is going down
When the market is going up your long trades have a better succes rate, and the reverse is true in a down trend.
I hear alot about what to use for a stoploss and I see alot off traders using a set number and I just dont get it...you cant use a preset number as a stoploss (your gonna get killed...its like painting a target on your trade and saying please hit me)the market will tell you where to place a stoploss and its always a different number...sometimes its only 30 or so pips sometimes its 80+ pips it depends on the volitiltiy to a certain degree and the amount of movement of each waveform.Its different for each timeframe you use also the higher the timeframe the more stoploss you have to be able to stomach.
But this exercise will help you see trending moves, when they are coming to an end, where is a good place for a stoploss and so on.
Back to the exercise, as each new high and low are made move your blue line to the highs and the red line to the lows and you will see the direction of the market and where to place stops (If you use them).Keep following along until you either reach a target point or the market begins to reverse...you will be able to tell when by doing this.Below and the next few posts Ill post a few examples from the 1 hour timeframe...the lowest I would recommend going.
Trading is only as hard as you make it...Indicators are great but you get to the point that you are watching the indicator instead of price ...what you should be watching.

Next examples

Progression over same time period

I think form here you can figure it out

So far there were some decent pips available.I took the short after price stalled around 2.0215 got in a few pips late but still put some in the bank.
Once we got the spinning top type candle off the new low of 2.0100 ,I took another scalp type trade long, now just waiting for price to pick a direction and go with the flow.

I'm getting the feel for the same type of things on a day like today where I was looking for a short, once the initial stall occurred going up there was a good chance to start scalping downward but only because of the hefty bias to go short, and on the candle before the spinning top at the bottom I was already feeling it's time to get out because it couldn't get down through there for 2 candles near the short term targets. I expected something to go wrong on the short. I'm getting to know that if it really is going to follow through it'll just keep going with lower lows and lower highs until it has an issue.

Took the long now, Price picked up support and made a new higher low...the 1st out of sinc with the move down and should make a new higher high. What happend is it failed at the previous high of last night and forces my exit on the long.I look now to the Swing fib acting in place of the Intraday to see if support holds from its levels to either trigger another long or a short on the break of its levels.I removed everything from the chart but the relevent information.If the levels of the Swing fib do not get tested I have closed my long too early and a higher high should ensue.