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Powerful Fib Based System - by DAZfx

  • #721
  • Jul 30, 2008 8:39am Jul 30, 2008 8:39am
Hello Double-top

Good work bro.................... i wasn't comfortable with the large stop loss but am happy that u r in 1:1 now.

Many people left the forum becoz determining the daily trend was a big issue and very discretional, but i will advice anybody to make use of Higher high and lower low with trendline to determine the daily trend.

am back as promised and we will get to see more action here.

All the trade spotted today were winners

thanks
  • #722
  • Jul 30, 2008 11:40am Jul 30, 2008 11:40am
Quoting Naijafx
Hello Double-top

Good work bro.................... i wasn't comfortable with the large stop loss but am happy that u r in 1:1 now.

Many people left the forum becoz determining the daily trend was a big issue and very discretional, but i will advice anybody to make use of Higher high and lower low with trendline to determine the daily trend.

am back as promised and we will get to see more action here.

All the trade spotted today were winners

thanks
Great to see you and DT here!!!

I got a PM from a regular user of this method after I made the post yesterday. Apparently, he doesn't like the fact that I bought this thread alive. He doesn't want a winning system exposed in a public forum.
  • #723
  • Jul 30, 2008 11:46am Jul 30, 2008 11:46am
Quoting howard
One of the best systems ever seen on the forums
I second that. If you have the patience, and discipline to follow the system, you can go a long way with this.
  • #724
  • Jul 30, 2008 11:58am Jul 30, 2008 11:58am
Quoting mazdaz
Great to see you and DT here!!!

I got a PM from a regular user of this method after I made the post yesterday. Apparently, he doesn't like the fact that I bought this thread alive. He doesn't want a winning system exposed in a public forum.

Hi Mazdaz & Naijafx,

Thanks for reminding us all about this secret weapon.

Must admit its a real charmer, looked all over at other systems (havent we all) and keep returning to this one.

Interesting info re the PM thanks.

Currentlywatching thisone on the 15 mtf.

Cheers,

DT.
Attached Image (click to enlarge)
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  • #725
  • Jul 30, 2008 12:29pm Jul 30, 2008 12:29pm
Check out EUR/JPY on the 4 hour.
  • #726
  • Jul 30, 2008 1:58pm Jul 30, 2008 1:58pm
Possible setup is forming on GU for short and UCHF for long on 1hr time frame, though still forming, but have high probabilities of giving a signal.


Remember all, these days, i move sl to break-even once i achieve 1:1 or 1:1.5 as the case maybe.


i think this GU short will be a continuation for those that went short earlier............
  • #727
  • Jul 30, 2008 2:31pm Jul 30, 2008 2:31pm
Trend is down for USD/CHF. Why a long trade?
  • #728
  • Jul 30, 2008 2:36pm Jul 30, 2008 2:36pm
hey guys which indicator is 'Double Top' used for drawing those lines from swing low till swing high?
  • #729
  • Jul 30, 2008 2:40pm Jul 30, 2008 2:40pm
Quote
Trend is down for USD/CHF. Why a long trade?

This is the problem with this system. if u don't get the accurate daily trend, u will keep losing and running away from this system as i have done before.



Take a look at the chart again on the daily, from left to right, its easier seen that the day is rallying up. plz use the higher high and lower low concept to define trend for the day.



Did u see where i put my resistance line.
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  • #730
  • Jul 30, 2008 2:48pm Jul 30, 2008 2:48pm
I do see that the trend is up since 7-16. Is a two week look back period enough time to see a trend?
  • #731
  • Jul 30, 2008 3:04pm Jul 30, 2008 3:04pm
Quote
do see that the trend is up since 7-16. Is a two week look back period enough time to see a trend?

http://www.forexfactory.com/images/buttons/quote.gif


Am not surprise to see this arguement, this is wot made some of us to run initially..... it will alwayz be there! that's the only discretional thing about the system............ and it will seperate the losers from the winner.


Now, let's look at this again technically, the former lower high was broken on the 23rd of July. that signaled/confirmed up trend.


I have another daily method which am presently working on that signalled long when price was at 192 on the on the 17th of july. some old traders in this room are aware of that long signal


loophole, this is where differences will come, no doubt about that but am glad that the concept will still remain the same.

You see anything discretional will alwayz bring some arguement but i will advice that u adopt ur style of seeing the trend while i use wot the teacher teaches as seen in the second page but our acct size will alwayz sincerely tell us if our method adopted for trend determination is right.

Hope this explanation is simple enough. good to see you around.
  • #732
  • Jul 30, 2008 3:18pm Jul 30, 2008 3:18pm
Thx for helping me understand trend direction. I see what you are saying. I see that the last two weeks the trend is up and that before that the trend was down for a long time. So, the question is, is two weeks long enough to change what was a very long down trend to an up trend?
  • #733
  • Jul 30, 2008 3:37pm Jul 30, 2008 3:37pm
two weeks is long enough to trade long on 1hr time frame to make money and when bearish bias resumes, we start looking for short.


The most important thing is to look for valid setup. thanks for your understanding.


really fx has humbled and broken me.

Ptournis. u r welcome!
  • #734
  • Jul 30, 2008 3:43pm Jul 30, 2008 3:43pm
Got it. So what would be the minimum time period to look at
if trading the 4H, if a two week look back is ok when trading the 1H?
  • #735
  • Jul 30, 2008 4:05pm Jul 30, 2008 4:05pm
Quote
Got it. So what would be the minimum time period to look at
if trading the 4H, if a two week look back is ok when trading the 1H?

Honestly, i don't know wot to say here but daz encourages to look for trend direction from 2 time frame up from the time frame u look for signals
  • #736
  • Jul 30, 2008 6:20pm Jul 30, 2008 6:20pm
Hi Naijafx, i have been reading this thread for a while on and off,could you tell me where the Dazfx trading room has gone,i am finding it difficult to decifer trade entries at the 5 SMA is there any way you could recomend an indicator to help or could i enter at a 38% ratio of the reaction swing as i see this sometimes lines up together to give a signal.Any help would be appreciated, thanks Pat.
  • #737
  • Jul 30, 2008 6:42pm Jul 30, 2008 6:42pm
Quote
Hi Naijafx, i have been reading this thread for a while on and off,could you tell me where the Dazfx trading room has gone,i am finding it difficult to decifer trade entries at the 5 SMA is there any way you could recomend an indicator to help or could i enter at a 38% ratio of the reaction swing as i see this sometimes lines up together to give a signal.Any help would be appreciated, thanks Pat.

http://www.forexfactory.com/images/buttons/quote.gif


5 SMA is just use to give good entries, price hovers round it and it acts as s/r..... 38.2% is wot we called advanced entry signal, for you to trade this, u must spot divergence with your stochastic.


I will not encourage tradingroom anymore cause it is one of the constraint to the development of this thread, traders now meet and discuss trade without posting here.


Maybe, a time can be fixed during the weekend where we can trade using simulator on live desktop to foster fast learning.

Hope u like the last option?

  • #738
  • Jul 31, 2008 1:59am Jul 31, 2008 1:59am
Good day traders,


Just to add to our on-going discussion, YOU WILL NOT GET SIGNALS EVERYDAY ON THIS METHOD BUT WHEN THEY COME THEY ARE VERY RELIABLE.

Thanks
  • #739
  • Jul 31, 2008 3:11am Jul 31, 2008 3:11am
Hello

GU just signal a short trade. attached is the chart
thanks
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  • #740
  • Jul 31, 2008 3:51am Jul 31, 2008 3:51am
Thanks for reply Naijafx,sounds like a good idea about simulator to help with learning,did the GBPUSD trade come good for you.Thanks PAT
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