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Fibonacci Trading with Bobokus

  • #3,821
  • Jun 12, 2008 8:25am Jun 12, 2008 8:25am
Quoting vitagene
should we register with them? is there demo account or how...?

Yes they do offer demo accounts
  • #3,822
  • Jun 12, 2008 8:27am Jun 12, 2008 8:27am
Quoting lordgbengs
sorry to bother you pls can u upload their demo saxo trader platform,i went to their site and dey said dey dont allow clients from nigeria so i cant download their platform,tnx

Not sure how that could be accomplished, you dont have to use them just find one that offers those items, Im sure there are more out there.
  • #3,823
  • Jun 12, 2008 8:33am Jun 12, 2008 8:33am
I had quite a good morning shorting both EU and GU and got some good pips...should have close for the day but Oh No I had to try and guess the market thinking that cable wont be able to break 9500.....decided to go long and now sweating this trade which in the first place, I had no reason to be in.

  • #3,824
  • Jun 12, 2008 8:39am Jun 12, 2008 8:39am
Quote
Wanna see something pretty ? Shorted 1.9666 and 1.9646 yesterday, closed the 1.9646 trade.
i saw it clearer on 4hr, it was a rejection at the retracement high, it bounced and formed a reversal sign, i couldn't trade it coz trading 4hr means a large drawdown but it was a perfect one and it might repeat itself as am seeing things. I did some pips raking today using your method and i must say confidence is increasing day by day. I will also do a re-trade of past 12 months to see clearly how price react to fib and to further confirm my theorem using your fib. Your fib is making me to see in clearer terms. am happy bo
  • #3,825
  • Jun 12, 2008 8:45am Jun 12, 2008 8:45am
pls who is ur broker and are u live already.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,826
  • Jun 12, 2008 8:47am Jun 12, 2008 8:47am
don't worry about it. it happens to almost everybody and here comes the good news. The deepest price might good is 1.9424, it has been tested before and was rejected, (on daily).... check 4hr and dump stoch 833, you will see that price is forming a retracement which might bounce at retracement pivot or high... Don't sweat it out, price will retrace to your entry price and possible make some profit. I think market its in a cycle, if this actually work out well just note it and when u see it next in the future, you know how to react to it. let see how it goes.
  • #3,827
  • Jun 12, 2008 8:55am Jun 12, 2008 8:55am
Gbenga, am trading live for living. Just resigned from zenith bank last month to do this full time. I use alpari thanks
  • #3,828
  • Edited 9:07am Jun 12, 2008 9:02am | Edited 9:07am
Maybe sweating it is the wrong analogy to use but as a newbie to this zero sum game....getting rid of this mistakes is something I'm really working on like someone puts it making pips is easy but keeping it is the hard bit.

But I will keep watching and see how/if it turns round in my favor............

N.B.
Naijafx wishing you good success in this game and also exciting life style ahead.
  • #3,829
  • Jun 12, 2008 9:06am Jun 12, 2008 9:06am
Quoting zerosum
I had quite a good morning shorting both EU and GU and got some good pips...should have close for the day but Oh No I had to try and guess the market thinking that cable wont be able to break 9500.....decided to go long and now sweating this trade which in the first place, I had no reason to be in.

You may be ok if 1.9440 holds as support and we get consolidation for the day, you may be able to get out at the top of the consolidation period or hope for retracement going into the Frankfurt/London sessions. You havnt done anything all the rest of us hasnt, we all get in on the wrong side sometimes.
  • #3,830
  • Jun 12, 2008 9:08am Jun 12, 2008 9:08am
tnx i appreciate ur response,i perceived u were using alpari,i just opened a 200 dolls account wth them by d time d money got 2 them it was 188 dolls ,4 2days i ve been trying to login to their platform but it is sayin invalid acct,i mailled them twice no response,i will lik ur advise on this matter.tnx
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,831
  • Jun 12, 2008 9:09am Jun 12, 2008 9:09am
Quoting Naijafx
i saw it clearer on 4hr, it was a rejection at the retracement high, it bounced and formed a reversal sign, i couldn't trade it coz trading 4hr means a large drawdown but it was a perfect one and it might repeat itself as am seeing things. I did some pips raking today using your method and i must say confidence is increasing day by day. I will also do a re-trade of past 12 months to see clearly how price react to fib and to further confirm my theorem using your fib. Your fib is making me to see in clearer terms. am happy bo

Glad to hear it Naijafx, youll only find you will get better by retrading the market in off hours as practice, you will become more accustom to price movement and actions.
  • #3,832
  • Jun 12, 2008 9:34am Jun 12, 2008 9:34am
Thanx Bob as always......your continuous tutorship and mentorship is Priceless and well appreciated.....

I think...repeat I think its bottomed out and we may see a reversal soon also the Mr Bernake speaking later may give cable a bounce.....
  • #3,833
  • Jun 12, 2008 10:01am Jun 12, 2008 10:01am
Quoting zerosum
Thanx Bob as always......your continuous tutorship and mentorship is Priceless and well appreciated.....

I think...repeat I think its bottomed out and we may see a reversal soon also the Mr Bernake speaking later may give cable a bounce.....
Now that you mention Benanke speaking that might pose a problem, I feel that the central banks are beginning to work together to talk the dollar up and quell some of this flight to Oil since its causing problems outside the US now.Just something to think about or consider.
  • #3,834
  • Jun 12, 2008 10:15am Jun 12, 2008 10:15am
Now you have given me something to think about...though from what I have been reading everytime he said something the dollar nose-dive.....it will be nice to get the same this round.
  • #3,835
  • Jun 12, 2008 10:15am Jun 12, 2008 10:15am
tnx bo i have seen a place where i can see all i asked 4,its gci,thanks i appreciate
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,836
  • Jun 12, 2008 10:38am Jun 12, 2008 10:38am
bo pls where can i hear bernanke speech live online,tnx
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,837
  • Jun 12, 2008 10:40am Jun 12, 2008 10:40am
sory bo,which index do u look out for concerning the direction of the Euro,GBp and yen
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,838
  • Jun 12, 2008 10:53am Jun 12, 2008 10:53am
Quoting lordgbengs
sory bo,which index do u look out for concerning the direction of the Euro,GBp and yen
I look at the dollar index..should be listed as DX
For oil look in futures, look at the continuos for a chart...should be listed CLc
I also look at gold since its a safe haven when the dollar is weak..it will be listed as XAU/USD.
You can also look to the USD/Yen since it seems to follow the DOW during US hours.
All can give you an idea of dollar weakness or strength and help you make your decisions along with what you currently use if you trade the majors. I just use the same fibonacci tactics you see here on those and it works the same.
  • #3,839
  • Jun 12, 2008 11:01am Jun 12, 2008 11:01am
thanx bo,i really appreciate it.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,840
  • Jun 12, 2008 11:30am Jun 12, 2008 11:30am
dear BObokus:
recently, i think i have advanced in the understaning of your method. but i want to know, in an uptrend, how to know a retracement is happenning so i can place the retracement-fibs.
regards
I need time ,I need money, I need more patience
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