Fibonacci Trading with Bobokus

Quoting jicjoc

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gimme those pips short

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Quoting Bobokus

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1. The envelope is a basic indicator found on the MT4 platform..under indicators its located in the oscillator heading, you can set the period anywhere from 50 -100 and get the same effect, the method (Simple), the deviation (0.05).

2 & 3.Ive changed the names of the fibs again since my first attempt to simplify what they were intended for didnt work out so well and confused everyone.
The basic sets you want to start with are 3 Daily fibs and 2 (1hour fibs)
The Daily fib sets are Uptrend,Downtrend and Retracement fibs
The 1 hour sets are the Intraday and the Swing fibs
Yesterday I placed a template for the main 5 pairs I watch with these fibs already set up on them, they go into your Templates folder, once you put them in the folder just open the 1 hour chart with the corresponding template and place it on the chart. You can zoom the chart out to the Daily to see the fibs on the larger Daily waveforms.
The main idea is to trade from the Intraday and Swing fibs on the 1 hour timeframe as price moves or works its way through the Daily fib levels.

4. The highlighted area is just to keep yor attention focused on the inner levels of each fib as this is where you will find the majority of your turning points in price and confirmation of direction. Its the Rectangle drawing tool from the MT4 platform you can add them from the Insert/Shapes/Rectangle from the toolbar or just customise the toolbar and add the rectangle icon to the toolbar.(right click on the dashed lines at the far left of the toolbar)

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Quoting perPIPtual Motion

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Thanks Bo, I am so getting a kick out of your thread....what a great tool!
I have grown more in the last few days, than in the entire two years I've been stumbling around blindly in the forex market. It's hard to try to learn to ride a bike, if someone neglects to tell you, that you're gonna need wheels on it.
ppm

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Quoting galaxymom

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1. Reconsider trading when you are tired (falling asleep at your computer).

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Quoting perPIPtual Motion

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Thanks Brucehvn, I will do this. Do you have any idea what post # that might be?
ppm

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Quoting galaxymom

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I made several mistakes last night and you should take note: 1. Reconsider trading when you are tired (falling asleep at your computer). 2. Reconsider trading when you don't have time to do your analysis, don't rush into it. 3. Reconsider trading when you are upset and distracted (tearing up turned into sobs).

So I had a 65 pip loss overall, but it could have been worse. Still +594 for 3 days. In retrospect, I should never have entered a trade.

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Quoting iiivb

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Well... if u r in the "geen" congratulations! that is what matters! but yes... when trading is about, rushing... pushing... forcing... or making stup%& "educated guesses" is the equivalent as "GAMBLING" and... gambling is NOT trading!

If u speak that way i am sure this is not ur full-time job... so... let it be... once i read here as the motto of a person this thing: "I would rather to say i regret not being in a profitable trade than regreting being in a losing one"... because this is all about risk management... with proper MM having 50% of accurate trades to be profitable... skills and strategies can make u have even more than 50% of accurate predictions.

My recommendation is the following if I am allowed:

"EVEN being 100% mentally-refreshed... we could have 50% mistakes... now imagine being 50% mentally present..."

Nice week-end all.

iiivb

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Quoting November

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Here are my Chart from GJ.
My Indicators are QQE, Zerolagstochastic and Gann HILO.
I draw the trendlines manualy in the Chart ,look to my Indicators (Red lines) you see the Divergence,and the Fantastic Fibo.
Best regards

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Quoting galaxymom

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.................(falling asleep at your computer). ....................

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Quoting yappe

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who can post the mq4 indicator that draws the swing indicator with the following words swing pivot, swing long, swing short, swing....
how does this indicator works, do we draw the lines themselves or happens this automatically ?
thank you very much

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Quoting PiPr Pro

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Hey the galaxy is pretty old isn't it? Did you drool on the computer when you fell asleep

seriously - your doing a wonderful job with all your analysis / trades. Don't work too hard, I can tell you've got what it takes. I hope you know how big that compliment was. I think you've already run the sprint (absorbing lots of Fibonacci info quickly), now run the marathon and keep taking well deserved time off.

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Quoting galaxymom

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I made several mistakes last night and you should take note: 1. Reconsider trading when you are tired (falling asleep at your computer). 2. Reconsider trading when you don't have time to do your analysis, don't rush into it. 3. Reconsider trading when you are upset and distracted (tearing up turned into sobs).

So I had a 65 pip loss overall, but it could have been worse. Still +594 for 3 days. In retrospect, I should never have entered a trade.

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Quoting forexpipmaster

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Hi Bo: I am new to this thread, and still havent read through all of it yet, but just wanted to thank you for all of your efforts here, and let you know that I really appreciate all of your time and help here.

I found out about you from Skunny's thread, and after 2 weeks, I finally read all of the posts there. I have been trading for over 7 yrs, and have tried many times over the yrs, to put something together on these Fibs, as far as to how the Big Boys use them. Because of you and Skunny, its all starting to come together and I can see some results.

I have a question for you, on Sundays when the market opens at 17:00 EST, does the 17:00 - 00:00 time period, get added to Friday to make it a full day?
In other words, if the market on Sunday breaks Fridays low, should we be pulling the Intraday fib down to that new low, so we can see the proper fib levels ??

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Quoting TradeStar

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Is there a way to show actual price that the various fib levels when I draw Fib. Right now, I added the levels and put T1, T2 etc., on the description.

Thanks much in advance

TradeStar

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Quoting Bobokus

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Its not an indicator, The standard MT4 fib tool is just customised by changing its properties. If you go back to post #2262 and post #2264 I posted templates with the modified fib tool already set up on the chart, they just need to be moved now up to the current day.

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