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Fibonacci Trading with Bobokus

  • #3,121
  • Apr 17, 2008 9:46pm Apr 17, 2008 9:46pm
Bo,
you are different. I love your teaching methodology, simple to comprehend.
You are cheerful in listening and impacting every trader that comes around.
Hope to host you in Africa one day (laugh).
I am proud of you, my friends had named me "BOBOKUS" due to my new slogan- kudos to bobokus fib.
Thanks for the mentorship.

Olorunloniemi
  • #3,122
  • Apr 17, 2008 9:56pm Apr 17, 2008 9:56pm
Quoting olorunloniem
Bo,
you are different. I love your teaching methodology, simple to comprehend.
You are cheerful in listening and impacting every trader that comes around.
Hope to host you in Africa one day (laugh).
I am proud of you, my friends had named me "BOBOKUS" due to my new slogan- kudos to bobokus fib.
Thanks for the mentorship.

Olorunloniemi
LOL, your welcome my man from Africa
  • #3,123
  • Apr 18, 2008 6:57am Apr 18, 2008 6:57am
  •  Trader#0000
  • | Status: Unregistered Trader
Bo;
Would this be an accurate long term wedge? This is on a Monthly chart
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  • #3,124
  • Apr 18, 2008 7:45am Apr 18, 2008 7:45am
I second what olorunloniem just said your Patience in explaining and re-explaining stuff is amazing and inspiring, I hope soon i develop such character because its one essential character a successful forex trader must have.

I'm gotten I miss you and galaxymom tutorship on Wednesday's night/Thursday,s Morning in the trading room, I work with the GMT hours so had to go catch sum sleep, hopefully I will catch you in there over the weekend.

Thanks alot for your help and mentorship,I know I'm getting there slowly but surely, I see the glass half full.

Your humble student,
Class '08
  • #3,125
  • Apr 18, 2008 8:36am Apr 18, 2008 8:36am
Bo,
Been following your thread and trying to trade with fibs but i have a question. How do you place your stops? And how do you decide where is a good price to place a stop? If anyone here can answer this, feel free to respond.
  • #3,126
  • Apr 18, 2008 8:41am Apr 18, 2008 8:41am
Zero,
I've been reading about this trade room. How do I get myself in it? Thanks.
  • #3,127
  • Apr 18, 2008 9:50am Apr 18, 2008 9:50am
Hi Fxettin,

Its a straight forward procedure, you go to TradingRooms.com and download the software onto your desktop and then you will have access to the trading chatroom.

When you log into Tradingrooms, a window will open up, click on Trading Rooms and then click on Community Trading Rooms and there you will see BOBOKUS&JETS211990 and just click on it. And our regular host Jets will be there to take your questions and also we do have regular appearances from the Man himself Bobokus and the Fearless lady from Texas Galaxymom.

Hope this helps.
  • #3,128
  • Apr 18, 2008 9:52am Apr 18, 2008 9:52am
HI Zero,

Tks will try it.
  • #3,129
  • Apr 18, 2008 3:10pm Apr 18, 2008 3:10pm
Hey guys well I am in the meeting now and I am going to revie of what happened today...if you guys whant to joing feel rfee to do so.
  • #3,130
  • Apr 18, 2008 5:41pm Apr 18, 2008 5:41pm
I am going to do some vhand trading in the meeting room if anyone whants to joing you can tag along....
We can discuss together what entries tot ake and what not to take...


MEETING ROOM=BOBOKUS&JETS211990
  • #3,131
  • Apr 18, 2008 8:02pm Apr 18, 2008 8:02pm
the meeting is being held now...room is BOBOKUS&JETS211990
  • #3,132
  • Apr 18, 2008 11:18pm Apr 18, 2008 11:18pm
Quoting fxettin
Bo,
Been following your thread and trying to trade with fibs but i have a question. How do you place your stops? And how do you decide where is a good price to place a stop? If anyone here can answer this, feel free to respond.
Me personally I dont use a stoploss unless I want to protect profit. If you must use a stoploss it needs to be set where whip in the market cant reach it. Using a set number stop in my opinion is a mistake, the market decides where your stops should be. Its not a set number but at what point or what will it take for the market to actually turn against your trade. To find this simply look for a previous resistance point or high if you enter a short and a previous support point or low if you enter a long' Basically a spot thats its obvious the pair met either support or resistance at. Once you get into profit move your stop up then to protect profits. And yes sometimes it is alot to have to stomach but if you dont like the whip in the market consistantly taking you out of a trade that you see after the fact you were correct in...we'll to each his own. Ive posted 2 examples that may help with this.
Attached Image(s) (click to enlarge)
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  • #3,133
  • Apr 18, 2008 11:30pm Apr 18, 2008 11:30pm
Quoting EagleTech
Bo;
Would this be an accurate long term wedge? This is on a Monthly chart
In a sense yes, the upper trendline is very steep but its an accurate rendition of the current movment here recently. Even though i will use trendlines I look more at horizontal support and resistance vs angular with trendlines. There are too many instances where a sideways market can move through a trendline and indicate a break but in reality the market is just moving sideways. In their defense though the higher a timeframe you placing them on the more weight they will carry. But yes thats an accurate way of using them to mark wedges forming.
  • #3,134
  • Apr 19, 2008 1:30pm Apr 19, 2008 1:30pm
Meeting I am going to do some training on the meeting with vhands if you guys whant to joing you guys are welcome to do so.
  • #3,135
  • Apr 19, 2008 10:34pm Apr 19, 2008 10:34pm
Quoting jets211990
Meeting I am going to do some training on the meeting with vhands if you guys whant to joing you guys are welcome to do so.

I am still training anyone is welcome to joing...
  • #3,136
  • Apr 19, 2008 11:12pm Apr 19, 2008 11:12pm
Meetig room is BOBOKUS&JETS211990
  • #3,137
  • Apr 19, 2008 11:20pm Apr 19, 2008 11:20pm
Submitted a message to you a few minutes ago, to get into the room.
  • #3,138
  • Apr 20, 2008 3:10pm Apr 20, 2008 3:10pm
Starting training again you guys are welcome to joing me in the meeting
  • #3,139
  • Apr 21, 2008 11:41am Apr 21, 2008 11:41am
I took a scalp last night that I only planned to let run into the Intraday levels of Friday but it never really gave any signs of bouncing and holding it proved profitable, since I may not get to trade much Intraday this week Ill take this trade as a gift . This even turned into a picture perfect Intraday break short.
From here now if price rally's back or retraces into todays move, Im looking to sell the rally's unless we get yet another reversal.
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  • #3,140
  • Apr 21, 2008 2:55pm Apr 21, 2008 2:55pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Bobokus
I took a scalp last night that I only planned to let run into the Intraday levels of Friday but it never really gave any signs of bouncing and holding it proved profitable, since I may not get to trade much Intraday this week Ill take this trade as a gift . This even turned into a picture perfect Intraday break short.
From here now if price rally's back or retraces into todays move, Im looking to sell the rally's unless we get yet another reversal.
Very nice trade Bo! 2 questions please:
1) Which candle was your entry? What was your confirmation? Was it the 4th candle to the right of the high 2.0025? This candle opened higher than the previous bull candle but then closed lower.

2) I don't have an uptrend fibs or downtrend fibs where you have them (retracement is fine). I'll post my daily chart with the fibs I have. Could you post yours so I can check it out please.

Thank you Bo.
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"Wishful thinking dies hard." Igor T.
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