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Fibonacci Trading with Bobokus

  • #4,001
  • Jun 20, 2008 4:24am Jun 20, 2008 4:24am
Fibonacci is not a reliable indicator at this moment when the market is counting on some fake directions propagated by big banks and financial corporations.

When you get only jumps from 50 level that's not a Fibonacci trade, that's a Half-market emotion, you don't even need Fibonacci to watch it.

Just be careful, Fibonacci will be reliable for sure after US Elections this year.

All the best.
PIPology - The Science of Mastering the PIP
  • #4,002
  • Jun 20, 2008 4:46am Jun 20, 2008 4:46am
am in the trade already,guess i was anxious but te 4hr trend favours me so am hoping and praying it favors ,In GOd i trust,tnx gud friend i appreciate,guess 1 of these days we fix a meeting and meet ,hisworld is also fron our place
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,003
  • Edited 9:59am Jun 20, 2008 5:03am | Edited 9:59am
Quoting PIPology
Fibonacci is not a reliable indicator at this moment when the market is counting on some fake directions propagated by big banks and financial corporations.

When you get only jumps from 50 level that's not a Fibonacci trade, that's a Half-market emotion, you don't even need Fibonacci to watch it.

Just be careful, Fibonacci will be reliable for sure after US Elections this year.

All the best.
Fibonaccy are great if you know how to use them....they work trust me.
  • #4,004
  • Jun 20, 2008 5:57am Jun 20, 2008 5:57am
pls does any body know where bobokus is,he his being silent all dis while
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,005
  • Jun 20, 2008 8:52am Jun 20, 2008 8:52am
[quote=PIPology;2066341]Fibonacci is not a reliable indicator at this moment when the market is counting on some fake directions propagated by big banks and financial corporations.

Let me tell you Fibs work most of the time. I know ive tried every indicator available. Fibs in most instances will highlight the support & resistence. Support / resistence & t/lines are probably all you should be using to trade.
AND.... i suppose, if you dont like fibs, dont even bother looking in at this thread. Thats what its about ---- FIBS.
  • #4,006
  • Jun 20, 2008 9:04am Jun 20, 2008 9:04am
Quoting lordgbengs
pls does any body know where bobokus is,he his being silent all dis while
He may be having some peaceful time away from trading. People do have other things happening in their lives. I`m sure he will be back soon.
  • #4,007
  • Jun 20, 2008 9:43am Jun 20, 2008 9:43am
U see that the UJ trade paid out atlast,i think the 4H signal drove d market
,happy weekend my greetings to ur family
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,008
  • Jun 21, 2008 3:49am Jun 21, 2008 3:49am
Quoting Shermenator
I have placed a swing fibb here...to see whats holding the market at the moment. Today i will not take the break of the high since we have that resistance above and we have a downward trendline....I rather simply miss the trade then simply be in one i dont like. Second thing is if price brakes the low of the cadle ago i will be shorting back to my intraday levels with a mental stop right above the intraday high...
And then i would pull my swing fibb from the intraday high to lowest candle to the pullback of the intraday to see if my short is worth the hold ...

Once again I am not short in...I am waiting for a conformation by having the breack of the low of an hour ago...And i would treat like a scalp back to my intraday levels...

Attachment
Sherm,

care to share the indicator u r using??

thx
sonic
  • #4,009
  • Jun 21, 2008 5:54am Jun 21, 2008 5:54am
Quoting sonicdeejay
Sherm,

care to share the indicator u r using??

thx
sonic

I am using no indicator. I am using a fibb to show me support and resistance...
I took the breack of the candle highlighted in my picuture since i knew price had not made a retracement back to the intraday levels. Also the fibb in this picture shows me a small swing and all i whanted to see was how price was going to react to its targets ....and as you can see price stalled...i like to fallow price with my swing fibb....
I fallow prce with my swing fibb to see momentum and to make sure its worth holding my trade since this was a riskier trade going from B to C in other words plating the retracement.

Attached Image
  • #4,010
  • Jun 21, 2008 6:12am Jun 21, 2008 6:12am
This is one of the amzing pdf Files he gave us. Here he goes over an entire month of october 2007. I know we have a couple of traders that might have skipped his thread or only glimpsed thrue this amazing thread. So just incase you did that or just simply confused going over this pdf file with your charts at the same time is great. It will clear many doubts. Hope this helps and once again BOBOKUS thanks for this amazing thread and this amazing pdf.

Attached File(s)
File Type: pdf BOBOKUS October 2007.pdf   509 KB | 1,864 downloads


Guys make sure you look at this.
  • #4,011
  • Jun 21, 2008 6:54am Jun 21, 2008 6:54am
Quoting Shermenator
I am using no indicator. I am using a fibb to show me support and resistance...
I took the breack of the candle highlighted in my picuture since i knew price had not made a retracement back to the intraday levels. Also the fibb in this picture shows me a small swing and all i whanted to see was how price was going to react to its targets ....and as you can see price stalled...i like to fallow price with my swing fibb....
I fallow prce with my swing fibb to see momentum and to make sure its worth holding my trade since this was a riskier trade going from B to C in other words plating the retracement.

Attachment
How can I set up my fibb correctly??
anylink for me to learn..I am new to fib analysis!!

thx
sonic
  • #4,012
  • Jun 21, 2008 6:59am Jun 21, 2008 6:59am
HEy guys As Bobukus says " take what works for you and throw the rest away"

I looked at this thread awhile ago and as stoked as I was with what I learneds and saw it was just too discresionary and at times confusing for me
to trade confidently with.

I'm not doubting it for a second just saying that 5 fibs ona chart is just too confusing for me personally. I prefer a black and white system where there is no room for error i.e drawing a fib to the wrong point.

But thanks Bobukus again for your efforts with this GREAT thread - I'm sure one day I will come back to it to add to my trading education

Cheers
Time hides Nothing
  • #4,013
  • Jun 21, 2008 7:06am Jun 21, 2008 7:06am
Quoting sonicdeejay
How can I set up my fibb correctly??
anylink for me to learn..I am new to fib analysis!!

thx
sonic
Bud...this thread is entirely based on that....read it and ask question after you read it.go to the first page on this thread and i believe on the first post BO tells you what page to start reading from ........as you practice with fibb you will see the swings and understand the market at a better understanding. Its a wonderfull system it just takes time like everything else.
I have a trading room that i trade in with this strategy its completly free and all we do is practice this.

Its in tradingrooms
Its called BOBOKUSandSHERMENATOR
We are here on trading nights and sometimes on weekends.
I am on there every london seesion at least 2-3 hour prior to it.
Skype is jets211990
  • #4,014
  • Jun 21, 2008 7:51am Jun 21, 2008 7:51am
To cindy and others intrested,

U can only be wrong using fibs based on two reasons:
1. price action- authoritatively most of the times the price action favors the fibs,because the big boys use it and even wen price action goes against its because its hitting a longterm fibs,

2.wrong fib lines drawing: anyway u draw ur fibs make sure it is high to low,as long as u do dat u are mostly correct,if its only the intraday u understand demo first wth it,then move from dat 2 understand d complex ones.

Let me give u dis little analogy so dat u dnt put urself under un-necessary pressure
Ask urself how much do i want to make in a month,then break your target into how many pips u will have to make to achieve that,bring it down 2 no of pips reqd per day.

e.g on a 1000 acct if u make 50 dollars per day in 20 days(a month) u will make 100% on investment plus ur capital.if the worst comes to the worst u will make 50% which is still alrite.

Our problem is greed,neva 4get u cant beat the market,u can only flow along wth it,remember u re lik a drop in d ocean so y not be contented.if u hit ur target get out and look and if u gonna trade trade a lesser lot.i hope dis helps

Even if u increase ur acct by 1%(at d worst) at d end of the month u are a good trader because alot of ur contemporaries has blown their acct or lost a part of it.hope this helps
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,015
  • Jun 21, 2008 7:58am Jun 21, 2008 7:58am
Thanks for your insights on fibo trading i will always live to respect u and appreciate u,tnks
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,016
  • Jun 21, 2008 9:05am Jun 21, 2008 9:05am
Quoting lordgbengs
pls does any body know where bobokus is,he his being silent all dis while

Im still here spent some time with my Daughter. She wanted to go camping so I took her.
  • #4,017
  • Jun 21, 2008 9:10am Jun 21, 2008 9:10am
Our problem is greed,neva 4get u cant beat the market,u can only flow along wth it,remember u re lik a drop in d ocean so y not be contented.if u hit ur target get out and look and if u gonna trade trade a lesser lot.i hope dis helps

Even if u increase ur acct by 1%(at d worst) at d end of the month u are a good trader because alot of ur contemporaries has blown their acct or lost a part of it.hope this helps.

Hey Lordgbengs...

Those two quotes are brilliant and couldnt have agreed anymore....all newbie should remember those words and live by them.

Happy Weekend all and see you next week.
  • #4,018
  • Jun 21, 2008 9:13am Jun 21, 2008 9:13am
Quoting Shermenator
This is one of the amzing pdf Files he gave us. Here he goes over an entire month of october 2007. I know we have a couple of traders that might have skipped his thread or only glimpsed thrue this amazing thread. So just incase you did that or just simply confused going over this pdf file with your charts at the same time is great. It will clear many doubts. Hope this helps and once again BOBOKUS thanks for this amazing thread and this amazing pdf.

Attachment

Guys make sure you look at this.
Actually this PDF was created by Thexder during his backresting as he was developing his own strategy from what he was learning here. He did a wonderful job.
  • #4,019
  • Jun 21, 2008 9:33am Jun 21, 2008 9:33am
Quoting Shermenator
I am using no indicator. I am using a fibb to show me support and resistance...
I took the breack of the candle highlighted in my picuture since i knew price had not made a retracement back to the intraday levels. Also the fibb in this picture shows me a small swing and all i whanted to see was how price was going to react to its targets ....and as you can see price stalled...i like to fallow price with my swing fibb....
I fallow prce with my swing fibb to see momentum and to make sure its worth holding my trade since this was a riskier trade going from B to C in other words plating the retracement.

Attachment
I mean t indicator that can display..Swing T1, R1..etc

thx

sonic
  • #4,020
  • Jun 21, 2008 9:36am Jun 21, 2008 9:36am
welcome back hope u enjoyed the camping?glad to see u around
D labour of a fool wearieth him cos he doesn't know how to enta d city
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