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Diary of a Mad Surfer

  • #261
  • Feb 1, 2008 11:01am Feb 1, 2008 11:01am
Quoting DutchTrader
BWR,

I'm using this system, on GFT it still works although I can't upload all the targets you have here. Keep up the good stuff.

See if you can manually change your fibo tools, If you can then use the settings I posted earlier, I don't use the indicators because I like to draw my fibo lines manually.
Just Trade It
  • #262
  • Feb 1, 2008 11:42am Feb 1, 2008 11:42am
So far, so good!

I need to work on my exit points and fib's, otherwise, the entry is not much of a problem since I trade on the daily TF.
Humble Lifetime Member
  • #263
  • Feb 4, 2008 4:05am Feb 4, 2008 4:05am
Hi BWR,
Im just wondering as an example I am looking at eurusd now, and I have plugged in the Bo Fib to replace my regular fibs on mt4, would you be looking at this last swing from the low around 1.4790 to the high at 1.4845 to get your long short etc areas, or would you use the whole last drop from fridays high to low...thanks...so the idea would be the 13x100 cross indicating a long on hourly, followed by the 8x13 cross on 4hr and once we move into the Bofib long area you would call that a long entry /add on point, is that right? Thanks, Raz
Never say never.
  • #264
  • Feb 4, 2008 5:12am Feb 4, 2008 5:12am
Quoting razldazl
Hi BWR,
Im just wondering as an example I am looking at eurusd now, and I have plugged in the Bo Fib to replace my regular fibs on mt4, would you be looking at this last swing from the low around 1.4790 to the high at 1.4845 to get your long short etc areas, or would you use the whole last drop from fridays high to low...thanks...so the idea would be the 13x100 cross indicating a long on hourly, followed by the 8x13 cross on 4hr and once we move into the Bofib long area you would call that a long entry /add on point, is that right? Thanks, Raz
Thats right on

Start with the weekly TF and draw a fibo there to see where important levels are. You can leave it there if you like or make a mental note and then draw a fib on the daily, then 4hr and then the 1hr if you like. The fib must be drawn from the high to the low of the last major movement, If you leave all of the fibs on your chart then it will just be cluttered and you wont know what you are looking at. I use two fibs max. The trade zones are in the Pivot, short, long levels. I wait until a candle closes or clearly breaks out of those levels before executing a trade, the fibs help you with the timing of the trade and projected targets and S&R levels, the ema's help you with the trend and it's strength, Both systems work very well when all of the signals line up.
Just Trade It
  • #265
  • Feb 5, 2008 6:37am Feb 5, 2008 6:37am
So here is a "Trading Plan" if you don't know what that is then stop trading NOW!!! Print this out, make dozens of copies and fill one out for every pair you trade every day. You can change it to fit your own requirements.
By filling this out every morning you now have a plan of what you would like the market to do before you enter a trade. This can help to avoid mistakes like forgetting your previous analysis and so forth, I keep mine in a binder so I have a record of what I did. This can have dramatic results in your trading if you have the discipline to fill it out every morning and keep it next to your computer until that trade is completed or if it never happened.
Good Luck. Sorry but I could not up load it so I copied it. It's very easy to make on word.

Trading plan

Date: Pair:


Weekly and Daily Chart:





4hr chart:





1hr chart:





Support and Resistance:





Where is the trend (200)?





What pattern or wave are we in?





What are the targets?



How will you trade this?





Results








Just Trade It
  • #266
  • Feb 5, 2008 6:44am Feb 5, 2008 6:44am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
So here is a "Trading Plan"




Results

Can't you fill mine out for me - please!

i like the idea, currently i use a note pad, but the binder would allow me to track the thought process much better.

MPP

can't post an example for Eu right now could you, no access to charts so picking up info all over the place.
  • #267
  • Feb 5, 2008 7:04am Feb 5, 2008 7:04am
Quoting MPP
Can't you fill mine out for me - please!

i like the idea, currently i use a note pad, but the binder would allow me to track the thought process much better.

MPP

can't post an example for Eu right now could you, no access to charts so picking up info all over the place.
Here is the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 25 KB
Just Trade It
  • #268
  • Feb 5, 2008 7:10am Feb 5, 2008 7:10am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
Here is the chart.
Many thanks
  • #269
  • Feb 5, 2008 7:21am Feb 5, 2008 7:21am
BWR i am thinking of shorting it if next 4hr candle closes below 200ema and putting s/l above 100ema on 4hr chart. i am doing very well on gold with your method thanks a lot for such a simple stuff Bro.
Quoting Big Wave Rider
Here is the chart.
  • #270
  • Feb 5, 2008 7:29am Feb 5, 2008 7:29am
Quoting kenneith
BWR i am thinking of shorting it if next 4hr candle closes below 200ema and putting s/l above 100ema on 4hr chart. i am doing very well on gold with your method thanks a lot for such a simple stuff Bro.

I'm thinking of going long Actually my mind is not made up yet. Everybody and their mother is calling for a dollar rebound but when? Is this the start or are we just going to test the lows and go up to new highs like the other half of the people are calling for. Right now we are at the pivot of the last movement on the 4hr. So it could go either way from here. Welcome to the thread.
Just Trade It
  • #271
  • Feb 5, 2008 7:36am Feb 5, 2008 7:36am
WOW :surprised These fibs continue to amaze me here is the monthly EU chart
T2 hit and almost retested.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 24 KB
Just Trade It
  • #272
  • Feb 5, 2008 7:40am Feb 5, 2008 7:40am
Thanks Bro. price just kissed 78.6 of last weekly candle and another good us data will push it further down but i wont do anything until this 4hr candle closes. Thanks for yr trading plan as well. keep up the good work Bro.
regards
Quoting Big Wave Rider
I'm thinking of going long Actually my mind is not made up yet. Everybody and their mother is calling for a dollar rebound but when? Is this the start or are we just going to test the lows and go up to new highs like the other half of the people are calling for. Right now we are at the pivot of the last movement on the 4hr. So it could go either way from here. Welcome to the thread.
  • #273
  • Feb 5, 2008 7:43am Feb 5, 2008 7:43am
they are amazing i have tried bo's fibs specially designed for 1hr gbp/usd and they work really well.
Quoting Big Wave Rider
WOW :surprised These fibs continue to amaze me here is the monthly EU chart
T2 hit and almost retested.
  • #274
  • Feb 6, 2008 5:02am Feb 6, 2008 5:02am
Here is EurChf 4hr. Below the 200 in a down trend, 8 crossed the 13 price bounced off of the short fib level. BIG time support at the S1 level as that is also the 200 on the monthly, I am already short on this pair but will be watching this level closely.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 21 KB
Just Trade It
  • #275
  • Feb 6, 2008 5:42am Feb 6, 2008 5:42am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
Here is EurChf 4hr. Below the 200 in a down trend, 8 crossed the 13 price bounced off of the short fib level. BIG time support at the S1 level as that is also the 200 on the monthly, I am already short on this pair but will be watching this level closely.
my fib is placed differently yo yours (1.6727-1.5825) but still puts us in the same short to s1 area, i'm watching for the 8x13 daily cross and a break of s1 at 1.5997.

also watching GbpChf for a daily cross, but tempted to enter on the retracement to the 4h 8ma

did enter long at the pivot on EU (1.4650), looks like i got that one wrong, should have waited until the cross confirms - it's the Jacko 50% method.
  • #276
  • Feb 6, 2008 5:56am Feb 6, 2008 5:56am
Quoting MPP
my fib is placed differently yo yours (1.6727-1.5825) but still puts us in the same short to s1 area, i'm watching for the 8x13 daily cross and a break of s1 at 1.5997.

also watching GbpChf for a daily cross, but tempted to enter on the retracement to the 4h 8ma

did enter long at the pivot on EU (1.4650), looks like i got that one wrong, should have waited until the cross confirms - it's the Jacko 50% method.
I was tempted to go long EU as well but held off. now looking to go short if the daily short level is broken which would make the daily 8 and 13 cross.
on EurChf my fib is draw from 1.6827 to 1.5821 on the weekly chart.
Plus the 13 tested the 100 and went down so this is a long term (maybe) trade for me.
As far as GBPCHF it is still in the no trade zone on the 4hr. still in this range correction. I would wait for daily conformation as well.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 31 KB
Just Trade It
  • #277
  • Feb 6, 2008 6:03am Feb 6, 2008 6:03am
Hi BWR,
Im placing my bo fibs the same way I would normally (except for always high to low) but yesterday my buy area would have been very high on eur...normally I wouldnt have considered buying in such a high area but I think the good thing about mas being a lagging indicator is that they get you in when there is real momentum, especially on higher timeframes ie we are never going to catch the bottom or the top so lets get in when things are already on their way...so again my buy area today on eur comes in up above 4700, so we would wait for hourly 8x13 cross, and a move into that buy area before going long.. I see the 100 and 200 have inverted so maybe an indication that we wont be seeing a move up just yet. Here is my chart, btw is it worth fibbing that last downmove from 1.4660 to low or would you not bother..thks Raz
Attached Image (click to enlarge)
Click to Enlarge Name: eur new.gif Size: 19 KB
Never say never.
  • #278
  • Feb 6, 2008 6:52am Feb 6, 2008 6:52am
Quoting razldazl
Hi BWR,
Im placing my bo fibs the same way I would normally (except for always high to low) but yesterday my buy area would have been very high on eur...normally I wouldnt have considered buying in such a high area but I think the good thing about mas being a lagging indicator is that they get you in when there is real momentum, especially on higher timeframes ie we are never going to catch the bottom or the top so lets get in when things are already on their way...so again my buy area today on eur comes in up above 4700, so we would wait for hourly 8x13 cross, and a move into that buy area before going long.. I see the 100 and 200 have inverted so maybe an indication that we wont be seeing a move up just yet. Here is my chart, btw is it worth fibbing that last downmove from 1.4660 to low or would you not bother..thks Raz
Market sentiment right now is fear, we are in a bear market and any up movement is false rallys. I would like to buy and hold but I don't think that will be the case for some time. Most guru economists are saying would should at least test the lows again before resuming a bull market and by looking at the charts I would agree. EU is in a corrective flat which means the best way to trade this is a scalp or not at all. But as they say just follow what your charts say and my charts are saying this is a bunch of shit.
Just Trade It
  • #279
  • Feb 6, 2008 6:55am Feb 6, 2008 6:55am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
bunch of shit.
and they say shit rolls down hill, not up!

management > sub-management > workforce > someone to blame

BTW must close EU long, get out now as all things are against me.
  • #280
  • Feb 6, 2008 7:00am Feb 6, 2008 7:00am
Quoting razldazl
btw is it worth fibbing that last downmove from 1.4660 to low or would you not bother..thks Raz
Not really because it is not a clear low, it still has the possibility to go lower.
Once it starts to retrace toward the S1 area then it would be worth to draw a fib there however this retracement on the 1hr chart is more of a stall then a retracement.
Just Trade It
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