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  • #4,561
  • Jul 26, 2008 11:05am Jul 26, 2008 11:05am
I use MB Trading for my orders, and Alpari for the charts.
I like the order types from MBT, very extensive compared to the standard MT4 platform. Justin from MB has a thread on FF if you're interested in info.

Happy Pippin'
KC


Quoting GreatYves
It might not be the good spot to ask, but since i withdraw all my funds at oanda, i wonder what would be the best place to open a new trading account for a Canadian. Some stuff i don`t like from Oanda like their buggy trading platform and spreads wich gets wild around news. Even for a position trader.
  • #4,562
  • Jul 26, 2008 11:31am Jul 26, 2008 11:31am
Hey guys a few questions about the fibs you guys trade with since I am a newbie on this thread.
1)hey guys wanted to know what levels are your T1 and T2?
2)Also when do you go long/short:
a)At the close of the candle?
b)Just as the price crosses the level?
3)Should the price hit the 50% level before we take a trade in any direction?
4)Which timeframe do you use these fibs on?
5)Which currency pairs do you guys trade these fibs with?
  • #4,563
  • Jul 26, 2008 1:36pm Jul 26, 2008 1:36pm
Quoting bksujal
Hey guys a few questions about the fibs you guys trade with since I am a newbie on this thread.
1)hey guys wanted to know what levels are your T1 and T2?
2)Also when do you go long/short:
a)At the close of the candle?
b)Just as the price crosses the level?
3)Should the price hit the 50% level before we take a trade in any direction?
4)Which timeframe do you use these fibs on?
5)Which currency pairs do you guys trade these fibs with?
1.the first one is 138.2 and second is 161.8

2.Our intraday levels are based on the the swing from the previous day so if its bearish you wont go long unless the 61.8 fibb brakes and vice versa. You can go against the intraday levels but pice action is key here and time of day and experience since anything against intraday levels should be treated like a scalp unless it turns into a trade.

AB .Breaks of previous candles high or low .....So lets say you get a rejection from the intraday leves in any fib (38.2, 50, 61.8) well if price manages to break the candles low prior to the rejection thats a confirmtion momentum has shifted and took place at a key level.

3.We dont force into hitting anything. What I mean is if price does not make a pullback back to any level but momentum picks up and shows the direction then we go that way. It can happen in any level price tells us what to do...

4. We anaylze our major swings in the daily chart and counterfibbs on it. We also have a 4 hour chart and 1 hour chart (anything smaller has to much noise).This are the timeframes I use.

5. This works with every currency but we focus on gbp/usd. You need to learn how a currency moves from day to day and also the key levels of support or resistance in your head.

Hope this helps but keep in mind we use the fibbs in a advance way that cant be explain in one post . Not even 304 pages since I am still trying to understand it better lol. If I am wrong in something or missing something please post it .
  • #4,564
  • Edited 3:38pm Jul 26, 2008 2:06pm | Edited 3:38pm
Quoting bksujal
Hey guys a few questions about the fibs you guys trade with since I am a newbie on this thread.
1)hey guys wanted to know what levels are your T1 and T2?
2)Also when do you go long/short:
a)At the close of the candle?
b)Just as the price crosses the level?
3)Should the price hit the 50% level before we take a trade in any direction?
4)Which timeframe do you use these fibs on?
5)Which currency pairs do you guys trade these fibs with?
The very best and most important way to understand what Bo is teaching here is to go back to page 1, post 1 and work thru, don't skip to page 120 or any where else. There are very clear demonstrations by Bo as to set up, how to trade, etc., and if the youtube videos he produced are still available, they are invaluable. Bo is an excellent teacher with the patience of Job - willing to answer your every question, take your time and do the work, and you will not regret the journey or the results. I consistently make good money every week trading micro lots, and I attribute my success to what I learned from Bo, his encouragement, and my own aggressive style of trading.

Best of luck on your journey.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #4,565
  • Jul 26, 2008 5:59pm Jul 26, 2008 5:59pm
It's been such a wonderful journey thru the pages of the thread that I've gotten thru so far. It might not be a walk in the park to go thru the entire thread but its a journey well worth taking if you want to learn HOW to trade and not have to depend on someone else for signals. I'm nowhere near the levels of almost everybody here, but hopefully I'll be there someday.

Happy Pippin'
KC




Quoting galaxymom
The very best and most important way to understand what Bo is teaching here is to go back to page 1, post 1 and work thru, don't skip to page 120 or any where else. There are very clear demonstrations by Bo as to set up, how to trade, etc., and if the youtube videos he produced are still available, they are invaluable. Bo is an excellent teacher with the patience of Job - willing to answer your every question, take your time and do the work, and you will not regret the journey or the results. I consistently make good money every week trading micro lots, and I attribute my success to what I learned from Bo, his encouragement, and my own aggressive style of trading.

Best of luck on your journey.
  • #4,566
  • Jul 26, 2008 10:26pm Jul 26, 2008 10:26pm
Yeah I agree..reading this thread has been a great learning experience.
  • #4,567
  • Jul 27, 2008 3:27am Jul 27, 2008 3:27am
Here is my EUR/USD. I have placed this charts for visual refrence f how I have setup my currency from start...

Daily Chart...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.gif Size: 46 KB


This is my eur/usd 1 hour chart...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.gif Size: 31 KB


Looking bullish even if price broke the intraday short simply y looking at the past candles and how price is making higher highs and higher lows. Take a look at how it began to stairstep up....We have also impacted the uptrend pivot that caused the bounce up.
  • #4,568
  • Jul 27, 2008 5:23pm Jul 27, 2008 5:23pm
Price has found resistance and start to move down a bitt....we will probably go into some consolidation but at least I know we have started to break previous candels low and the the counter fibb to the intraday movement found sellers....Now what we have to do it let time go by and price show us more clues into what direction does it whant to take....

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 33 KB
  • #4,569
  • Jul 27, 2008 7:26pm Jul 27, 2008 7:26pm
Quoting galaxymom
The very best and most important way to understand what Bo is teaching here is to go back to page 1, post 1 and work thru, don't skip to page 120 or any where else. There are very clear demonstrations by Bo as to set up, how to trade, etc., and if the youtube videos he produced are still available, they are invaluable. Bo is an excellent teacher with the patience of Job - willing to answer your every question, take your time and do the work, and you will not regret the journey or the results. I consistently make good money every week trading micro lots, and I attribute my success to what I learned from Bo, his encouragement, and my own aggressive style of trading.

Best of luck on your journey.
I was just taking pride in not asking questions until I had at least scanned the thread. Having watched the videos, I was in the process of skipping thru the thread, when your message described exactly what I was doing. So, back to post 1 I went, and I've spent several hours just getting to page 2. I'm developing questions as I go, but will resist temptation as long as possible, knowing the task is mine to find what's already been said before bothering others to repeat it for me.

I'll just keep slugging thru it, but I do skip ahead everyday to get the current posts.

Thanks to all who have gotten it thus far.
  • #4,570
  • Jul 27, 2008 10:17pm Jul 27, 2008 10:17pm
Geez; almost a Post Every year and nothing but gimmee gimmee;


prov1813 http://www.forexfactory.com/images/icons/icon1.gif Busted

Posted Today 6:26pm {July 27th 2008}

I was just taking pride in not asking questions until I had at least scanned the thread. Having watched the videos, I was in the process of skipping thru the thread, when your message described exactly what I was doing. So, back to post 1 I went, and I've spent several hours just getting to page 2....
Forum: Trading Systems Thread: Fibonacci Trading

prov1813 http://www.forexfactory.com/images/icons/icon1.gif Trend time frame

Posted Sep 8, 2006 4:52pm
Brand new, please excuse the question, but when looking to start in a price channel after a breakthrough opposite the previous trend (sell at resistance, buy at support) how far back to you go to establish the trend ? For example eur/usd came down all day, but is overall (past month) trending...
Forum: Trading Systems Thread: james16 Chart Thread




He whom answers before....

Now you remind me of Job.
  • #4,571
  • Jul 27, 2008 11:21pm Jul 27, 2008 11:21pm
Be aware of the double bottom we have formed at the retracement pivot from daily chart... This 50 percent fibb is attempting to cross us back to the bullish side ....I will wait for price momentum to pick up, and will fallow that. Also if we start braking lows with nice momentum I will short and watch price action at the retracement pivot...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 33 KB
  • #4,572
  • Jul 27, 2008 11:52pm Jul 27, 2008 11:52pm
hey anyone knows why that sudden spike happen... kind of scary... i never knew something like that would be possible without news of any kind...
  • #4,573
  • Jul 28, 2008 12:29am Jul 28, 2008 12:29am
I am currently short and watching price action carefully ....I will pay attention at the doble bottom we have if price goes for it again....
I have no problem in closing and reversing if we start braking previous candles highs...
I have my swing fibb and I whant to see it fail as support...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 37 KB
  • #4,574
  • Jul 28, 2008 12:51am Jul 28, 2008 12:51am
9868 is the next key spot of suport.....I will watch price at that point ...
My short is Looking good...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 34 KB
  • #4,575
  • Jul 28, 2008 1:04am Jul 28, 2008 1:04am
i am short too.... how far do you think it can go
  • #4,576
  • Jul 28, 2008 1:16am Jul 28, 2008 1:16am
Quoting xscamx
i am short too.... how far do you think it can go

I have now placed my swing fibb and will look at price action near the intraday low since the sellers might jump out and cause a pullback...
I also came at a good price I have placed my stop right above break even...

9828...is strong support.... swing target ends at that point (light blue fib)...
I will let price tell me what to do....
I have not pressure in my head anymore since my mental stop is at break even i will let the market take me out....

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 37 KB
  • #4,577
  • Jul 28, 2008 1:41am Jul 28, 2008 1:41am
I have now pressure price to the next tear of resistance and watch price action....

I am currently up 10 pips worst case I would loose about 4 pips but would consider reversing and scalp back up depending on price action since it wold be a bounce of the reracement pivot...I will let price guide me...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 37 KB
  • #4,578
  • Jul 28, 2008 1:46am Jul 28, 2008 1:46am
hey shermenator thanks for the reply to my earlier post. Is everyone short in GU?
  • #4,579
  • Jul 28, 2008 2:24am Jul 28, 2008 2:24am
Currently up 40 pips ....I will closly pay attention at the intraday low... many cycles end at that point....but most important is price action...I cant force price into doing something I must watched and base my decision on what I see...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 37 KB
  • #4,580
  • Jul 28, 2008 2:58am Jul 28, 2008 2:58am
well, i out with 50pips.... guest i done for today.... not sure how far can it go...
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