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Fibonacci Trading with Bobokus

  • #2,521
  • Feb 26, 2008 8:25am Feb 26, 2008 8:25am
Thnx for the encouragement, BO. It's gradually getting easier to switch the 'remorse' emotion off
  • #2,522
  • Feb 26, 2008 11:05am Feb 26, 2008 11:05am
Quoting Thexder
Here's what I did.

First swing I pulled (has to be at least 40 pips) had to be pulled from a high point yesterday down to the place during pre-London where a pull back hourly candle formed, giving a low point behind it to locate the swing low.

A bad short break came, so it was time to then watch for the next setup. In this case there was a 61.8% retracement of my first swing, leaving a new movement range of exactly my requirement of 40 pips minimum, so I fibbed that and watched for something to take shape. I'd be willing to take a long or short break from that new fib since the retracement was significant, and it's always just a scalp mentality for me. So that's where I saw things settle down and start to look strong on the long side.

I trade the break of the fib high or low in my method as it occurs so I had a pending order just above the swing high and it was picked up, then M1 stop trails let me lock in the moves until I got stopped.

Hi,
seem good? and I hope I have not deviate. it looks like the retracement fib levels was brokem as the price established on the retracement fib long on daily chart and the intraday fib levels look like this,check my swing fib colour blue,hope it is rightly placed.
Comments from traders are welcome.I am just coming up,with the strategies.

Olorunloniemi
Attached Image (click to enlarge)
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  • #2,523
  • Feb 26, 2008 12:01pm Feb 26, 2008 12:01pm
Bob & kathy,
I really thank u guys for what u ar doing here.Today was another day,pips were just coming in.I just imagine my live account...........LOL. See ya!
  • #2,524
  • Feb 26, 2008 12:13pm Feb 26, 2008 12:13pm
WAOOOOOOOO, bobokus magic method of fibbing is too good.
It helps a lot to see market in a right perspective.
Kudos to you Bo.
I am still learning from you while sing small lot to trade live account
Attached Image (click to enlarge)
Click to Enlarge Name: olorunloniemi4.gif Size: 15 KB
  • #2,525
  • Feb 26, 2008 12:56pm Feb 26, 2008 12:56pm
Bo, it's nice to keep seeing people excited about this great thread. See ya!
  • #2,526
  • Feb 26, 2008 1:14pm Feb 26, 2008 1:14pm
I appreciate all the positive comments, but I honestly wish everyone would trade this in demo until they get the feel for it
  • #2,527
  • Feb 26, 2008 1:16pm Feb 26, 2008 1:16pm
Quoting PiPr Pro
Bo, it's nice to keep seeing people excited about this great thread. See ya!

Hi Pipr Pro, good to see your still around
  • #2,528
  • Feb 26, 2008 2:03pm Feb 26, 2008 2:03pm
Quoting Bobokus
I appreciate all the positive comments, but I honestly wish everyone would trade this in demo until they get the feel for it
Yes - please listen to Bo. It would be better that you learn until you can take a demo account from say 10k to 50k then start trading live. I promise this is:

Do as I say - not as I did.

It will save you some serious coin - ouch.
  • #2,529
  • Feb 26, 2008 2:15pm Feb 26, 2008 2:15pm
Quoting Bobokus
You may not realise yet but you are trading better than most 'professionals'
And I think I just overcame my other biggest problem - staying awake all night. I think my hours are sufficiently reversed to give me London and half of NY. I wasn't liking that whole "set the alarm for 1 hour, timed 10mins before the next hour rolls over so I can wake up in time to set up for the next candle and go back to bed for an hour" nonsense.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #2,530
  • Feb 26, 2008 7:39pm Feb 26, 2008 7:39pm
Bo,

After reading the first 10 pages of this thread, this looks like a great system. I have a quick question that I hope wasn't repeated somewhere in this thread.

How are you able to drag your fibo lines within your application. I am using StrategyBuilder FX, and it will allow me to draw fibo lines, but it won't allow me to change the 0.0 and 1.0 levels unless I re-draw them.


Help is appreciated and thanks in advance.
  • #2,531
  • Feb 26, 2008 7:53pm Feb 26, 2008 7:53pm
Quoting logiktrader
Bo,

After reading the first 10 pages of this thread, this looks like a great system. I have a quick question that I hope wasn't repeated somewhere in this thread.

How are you able to drag your fibo lines within your application. I am using StrategyBuilder FX, and it will allow me to draw fibo lines, but it won't allow me to change the 0.0 and 1.0 levels unless I re-draw them.


Help is appreciated and thanks in advance.
If it is a Metatrader 4 program, you left click until the boxes appear and then you can move them, right click on the vertical line and you can access properties and change the colors, add and delete levels, edit the parameters, etc.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,532
  • Feb 26, 2008 7:54pm Feb 26, 2008 7:54pm
Wonderful Thanks!!!!!!
  • #2,533
  • Edited 10:25pm Feb 26, 2008 9:50pm | Edited 10:25pm
Here is a script to add the support and resistance lines for the fibo lines. It will add the fibo lines and you will just need to manually move them to wherever you need them.

Any requests for changes to this script are welcomed since I just threw this together and it might need some minor tweaks. Note that this is just to create the fibo lines in case you accidentally remove them or apply a template which may remove them from your charts.

Enjoy!



-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

I see two opportunities with this script that I have not been able to fix for some reason.

I would like to be able to have the charts not on the background and not ray by default. I have tried everything and I can't seem to set these values! Someone help!

Can anyone help me make the lines not in the background. I tried using
ObjectSet("ResistanceFibo",OBJPROP_BACK,false); and
ObjectSet("ResistanceFibo",OBJPROP_BACK,False);

but neither work.
Attached File(s)
File Type: mq4 AddFiboLinesScript.mq4   4 KB | 800 downloads
  • #2,534
  • Feb 27, 2008 1:04am Feb 27, 2008 1:04am
Quoting olorunloniem
Hi,
seem good? and I hope I have not deviate. it looks like the retracement fib levels was brokem as the price established on the retracement fib long on daily chart and the intraday fib levels look like this,check my swing fib colour blue,hope it is rightly placed.
Comments from traders are welcome.I am just coming up,with the strategies.

Olorunloniemi
Hi, Olorunloniemi
what's your indicator on the chart that draw red and green dots?
Success is the small sum of efforts, repeated day in and day out.
  • #2,535
  • Feb 27, 2008 1:19am Feb 27, 2008 1:19am
Bob,
I think am right and gu is already cutting the intraday high.Please check
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  • #2,536
  • Feb 27, 2008 2:42am Feb 27, 2008 2:42am
Kathy,
Hello gud day just a little confirmation on my latest draw on gu.
Thanks,
Gbenga.

Great morning again,pips are coming in.
Attached Image (click to enlarge)
Click to Enlarge Name: gunew123.gif Size: 18 KB
  • #2,537
  • Feb 27, 2008 2:46am Feb 27, 2008 2:46am
Quoting hiswords
Kathy,
Hello gud day just a little confirmation on my latest draw on gu.
Thanks,
Gbenga.

Great morning again,pips are coming in.
Chart looks great! Very good!
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,538
  • Feb 27, 2008 3:05am Feb 27, 2008 3:05am
Quoting dhalsim
Hi, Olorunloniemi
what's your indicator on the chart that draw red and green dots?
The indicator is support and resistance indi mention in thread by bo, u can check the thread is there.
  • #2,539
  • Feb 27, 2008 3:09am Feb 27, 2008 3:09am
Kathy,
Thanks for the response,help check this too.
Gbenga

Great day continue as pips keeps coming!!!!!!!!!LOL
Attached Image (click to enlarge)
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  • #2,540
  • Feb 27, 2008 3:21am Feb 27, 2008 3:21am
Quoting hiswords
Kathy,
Thanks for the response,help check this too.
Gbenga

Great day continue as pips keeps coming!!!!!!!!!LOL
I think your Swing fib is incorrect. I think either of these could be better choices.
Attached Image (click to enlarge)
Click to Enlarge Name: uchf.gif Size: 13 KB
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
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