Hi Bo..........
- #1,322
- Jan 10, 2008 12:44pm Jan 10, 2008 12:44pm
- | Joined Oct 2007 | Status: Nomad | 1,144 Posts
"Support and Resistance either holds or it doesn't."
-Anonymous hillbilly
- #1,323
- Jan 10, 2008 12:57pm Jan 10, 2008 12:57pm
Bo, so to summarize:
1. Use the Intraday Fib to target Entry, SL and Exit?
2. Enter when the candle ENTERS the trading range, or Exits the trading range?
3. Use the Swing to adjust the exit point?
4. Adjust the ID Fib to match the day, as the day progresses, to help iodentify tomorrow's trade.
5. I know the Fibs should be top to bottom. Old habits, you know.
Thanks. Your thread has been very helpful.
Tim
1. Use the Intraday Fib to target Entry, SL and Exit?
2. Enter when the candle ENTERS the trading range, or Exits the trading range?
3. Use the Swing to adjust the exit point?
4. Adjust the ID Fib to match the day, as the day progresses, to help iodentify tomorrow's trade.
5. I know the Fibs should be top to bottom. Old habits, you know.
Thanks. Your thread has been very helpful.
Tim
Once the Intraday targets have been met you simply start pulling the Intraday fib on the move of today and measure whatever you get for retracment off the high today with the swing. And swap ends with them, using that fib template they are drawn top to bottom always.
The intraday measures the move over the coarse of the day to project into the next day, the swing fib just gives a heads up to price movement witin the Intraday.
{Promotion Removed}
- #1,324
- Jan 10, 2008 1:07pm Jan 10, 2008 1:07pm
- | Commercial User | Joined Oct 2006 | 2,560 Posts
Bo, so to summarize:
1. Use the Intraday Fib to target Entry, SL and Exit?
2. Enter when the candle ENTERS the trading range, or Exits the trading range?
3. Use the Swing to adjust the exit point?
4. Adjust the ID Fib to match the day, as the day progresses, to help iodentify tomorrow's trade.
5. I know the Fibs should be top to bottom. Old habits, you know.
Thanks. Your thread has been very helpful.
Tim
The swing fib can be used to measure the retracement or counter moves during the day ,as well as follow price to give you heads up if price will turn on you before reaching its target.By its levels getting broken in the opposite direction.
4. Once the Intraday target has been reached you dont need that fib anymore, you now look to the current day to place it on, to reset for the next trading day.
5.Thats why ive relabeled them so they can just be drawn high to low always
- #1,329
- Jan 10, 2008 4:35pm Jan 10, 2008 4:35pm
- | Commercial User | Joined Oct 2006 | 2,560 Posts
Skunny and I have opened a thread in the Beginner Q&A section for the workshop we are wiling to make happen if anyone was interested, if so visit and tell us your thoughts, but I'll post what it is here so you can see.
Trading Bo and Skunny Style
Just An Idea From Bo'bokus and Skunny.
Although this thread idea has prior approval from Forex Factory Admin, its outcome or content is not specifically endorsed by Forex Factory, (unless the outcome is extremely successful, in which case FF will receive all the kudos)
___________________________________ ____________________________
___________________________________ ____________________________
Remember this is just an idea and is in need of refinement.
Due to the volume of emails and pm's sent to both Bo and I from seemingly good people, we've tried to figure out a way to get these traders on the right track. We've concluded that trying to do this in a text/forum format is extremely difficult and time consuming. We sincerely want the people that have the drive to learn - to have the information we possess.
Bo contacted me the other day with the idea of possibly putting together a trading skills workshop. One that doesn't sell anyone a bunch of garbage they can't interpret, but rather it would be designed to help the traders that are just starting in forex and those that have struggled to create a positive account. We are not seminar sales people, so you won't get all that flashy stuff (we will be in t-shirts and Bo will probably have his sleeves cut off and chew'n on a straw while strummin his banjo) very relaxed atmosphere. We aren't the Ferrari - driving, ego - driven type of traders; you won't hear us bragging either. We are charity oriented traders. In fact, Bo and I have already agreed to push any possible proceeds to children's charities, like the Stephen Raymond Foundation(if this becomes a reality).
If you are looking to buy a system this wouldn't be for you. (although you will probably have one before you leave). This get - together would not be a money making venture for Bo and I,(an excuse for a vacation maybe), but it will not be free either. It will take time/money on our part to get this to happen, so compensation and cost dispersion is only fair for everyone. (The last "free" one I did still cost $300). So, with that in mind, we are curious as to how many people would be interested in this type of a training opportunity.This may fall to deaf ears, but that's okay as well. If there is a need, we would be willing to do the work, if not.....no harm no foul.
If this interests you, don't be concerned with where we have it or the cost for now; we just want to know if there is any interest. If this grows legs of its own - great. The cost will ultimately depend on the amount of attendees. We want to make this as affordable as possible.
I could give you a bunch of reasons why I think this is an incredible idea/opportunity, but I fear it might look like a sales pitch.
Bo and I have active threads here at FF, so for a little taste of how we view the market you can see Bo's thread in Trading Systems "Fibonacci Trading" and mine is "Indicator Free Trading - Skunny" in Forex Discussion. (Most of you viewing already know the threads)
This will be a positive get - together, anyone that has any negativity issues - please don't respond. We want this to be a time to meet good people and learn how to profit while laughing at some of our own trading buffoonery. Egos get checked at the door - if you can't check your ego this probably isn't for you.
It is just my opinion, but if you can't become profitable with what you would learn from this possible training opportunity, you'll probably want to look for a different investment vehicle.
Some things we would focus on:
How to train, what's important, what isn't.
vHands trading - how to use and its real benefits.
The many ways to profit from understanding the market better (where to enter,exit, stops). Regardless of your system.
Reviewing charts/trades live and on vHands.
Q and A (the most important). This event should be driven by the questions you have.
And a lot more I'm sure.
Please respond to us in this thread with a simple message of interest or PM (private message) one of us. Or click on our name to get a profile and email us
Trading Bo and Skunny Style
Just An Idea From Bo'bokus and Skunny.
Although this thread idea has prior approval from Forex Factory Admin, its outcome or content is not specifically endorsed by Forex Factory, (unless the outcome is extremely successful, in which case FF will receive all the kudos
)___________________________________ ____________________________
___________________________________ ____________________________
Remember this is just an idea and is in need of refinement.
Due to the volume of emails and pm's sent to both Bo and I from seemingly good people, we've tried to figure out a way to get these traders on the right track. We've concluded that trying to do this in a text/forum format is extremely difficult and time consuming. We sincerely want the people that have the drive to learn - to have the information we possess.
Bo contacted me the other day with the idea of possibly putting together a trading skills workshop. One that doesn't sell anyone a bunch of garbage they can't interpret, but rather it would be designed to help the traders that are just starting in forex and those that have struggled to create a positive account. We are not seminar sales people, so you won't get all that flashy stuff (we will be in t-shirts and Bo will probably have his sleeves cut off and chew'n on a straw while strummin his banjo) very relaxed atmosphere. We aren't the Ferrari - driving, ego - driven type of traders; you won't hear us bragging either. We are charity oriented traders. In fact, Bo and I have already agreed to push any possible proceeds to children's charities, like the Stephen Raymond Foundation
(if this becomes a reality).If you are looking to buy a system this wouldn't be for you. (although you will probably have one before you leave). This get - together would not be a money making venture for Bo and I,(an excuse for a vacation maybe), but it will not be free either. It will take time/money on our part to get this to happen, so compensation and cost dispersion is only fair for everyone. (The last "free" one I did still cost $300). So, with that in mind, we are curious as to how many people would be interested in this type of a training opportunity.This may fall to deaf ears, but that's okay as well. If there is a need, we would be willing to do the work, if not.....no harm no foul.
If this interests you, don't be concerned with where we have it or the cost for now; we just want to know if there is any interest. If this grows legs of its own - great. The cost will ultimately depend on the amount of attendees. We want to make this as affordable as possible.
I could give you a bunch of reasons why I think this is an incredible idea/opportunity, but I fear it might look like a sales pitch.
Bo and I have active threads here at FF, so for a little taste of how we view the market you can see Bo's thread in Trading Systems "Fibonacci Trading" and mine is "Indicator Free Trading - Skunny" in Forex Discussion. (Most of you viewing already know the threads)
This will be a positive get - together, anyone that has any negativity issues - please don't respond. We want this to be a time to meet good people and learn how to profit while laughing at some of our own trading buffoonery. Egos get checked at the door - if you can't check your ego this probably isn't for you.
It is just my opinion, but if you can't become profitable with what you would learn from this possible training opportunity, you'll probably want to look for a different investment vehicle.
Some things we would focus on:
How to train, what's important, what isn't.
vHands trading - how to use and its real benefits.
The many ways to profit from understanding the market better (where to enter,exit, stops). Regardless of your system.
Reviewing charts/trades live and on vHands.
Q and A (the most important). This event should be driven by the questions you have.
And a lot more I'm sure.
Please respond to us in this thread with a simple message of interest or PM (private message) one of us. Or click on our name to get a profile and email us
- #1,330
- Jan 10, 2008 5:15pm Jan 10, 2008 5:15pm
Hi bobokus--today I decided to spend more time understanding Fibonacci. that's when I came upon your thread. Wanted to say thanks! I am looking forward to reading through it and participating here!
- #1,331
- Jan 10, 2008 5:17pm Jan 10, 2008 5:17pm
- | Commercial User | Joined Oct 2006 | 2,560 Posts
Hi bobokus--today I decided to spend more time understanding Fibonacci. that's when I came upon your thread. Wanted to say thanks! I am looking forward to reading through it and participating here!
