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Fibonacci Trading with Bobokus

  • #4,781
  • Aug 6, 2008 1:52am Aug 6, 2008 1:52am
Quoting xscamx
hey guys just asking whether would you guys be trading tomorrow.... i thought of staying away because of that there is so many news tomorrow...

7:00pm GBPhttp://www.forexfactory.com/images/m...mpact_high.gif Official Bank Rate

Tentative GBPhttp://www.forexfactory.com/images/m...mpact_high.gif Halifax HPI m/m

Tentative GBPhttp://www.forexfactory.com/images/m...mpact_high.gif MPC Rate Statement

Yep Bobokus tought me news is a war between support and resistance...its to simply trade your plan like you had no news....It simply tell you that you are right faster or wrong faster..
  • #4,782
  • Aug 6, 2008 2:06am Aug 6, 2008 2:06am
Quoting Shermenator
Yep Bobokus tought me news is a war between support and resistance...its to simply trade your plan like you had no news....It simply tell you that you are right faster or wrong faster..

this means that the news goes accordingly with the fib levels... am i right...
  • #4,783
  • Aug 6, 2008 2:15am Aug 6, 2008 2:15am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I'm still short. Waiting to see if it can break 1.9600. I'll reverse there for sure. If there's an opening above the pivot that'd be a good sign for me to reverse too. We'll see. Ugly whipsaw business this morning.
"Wishful thinking dies hard." Igor T.
  • #4,784
  • Aug 6, 2008 2:30am Aug 6, 2008 2:30am
Quoting FxChi
I'm still short. Waiting to see if it can break 1.9600. I'll reverse there for sure. If there's an opening above the pivot that'd be a good sign for me to reverse too. We'll see. Ugly whipsaw business this morning.

I have closed my trades I will call it a night...I see no true direction took a 30 pip hit...goodluck my freind
  • #4,785
  • Aug 6, 2008 2:45am Aug 6, 2008 2:45am
i am currently long in the gbp/usd.....i have a stop loss of 30pips that it...anyone else going long
  • #4,786
  • Aug 6, 2008 2:45am Aug 6, 2008 2:45am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Shermenator
I have closed my trades I will call it a night...I see no true direction took a 30 pip hit...goodluck my freind
Thanks. It's a little rough this morning, and what you're doing might actually be a good idea given the action this morning. I'm going to wait a few more hours to see what's going on. Intraday Pivot still holding though.
"Wishful thinking dies hard." Igor T.
  • #4,787
  • Aug 6, 2008 2:45am Aug 6, 2008 2:45am
Quoting Shermenator
Yep Bobokus tought me news is a war between support and resistance...its to simply trade your plan like you had no news....It simply tell you that you are right faster or wrong faster..
Hmm, I never thought about it that way, thanks...
  • #4,788
  • Aug 6, 2008 3:48am Aug 6, 2008 3:48am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Sure glad I held my position. Phew! Hopefully we can make it to some targets today.
"Wishful thinking dies hard." Igor T.
  • #4,789
  • Aug 6, 2008 6:43am Aug 6, 2008 6:43am
Quoting FxChi
Sure glad I held my position. Phew! Hopefully we can make it to some targets today.

i have close my long and now going short..... my targets would be 1.9495... how bout you
  • #4,790
  • Aug 6, 2008 7:24am Aug 6, 2008 7:24am
Crappy day today so far, Im done until tomorrow I gave em 35 pips today so thats enough. Dont want to compound a loss since tomorrow is a different day. My momma told me there would be days like this....lol. Just goes to show you ya cant win em all.
  • #4,791
  • Aug 6, 2008 7:48am Aug 6, 2008 7:48am
Quoting Bobokus
Crappy day today so far, Im done until tomorrow I gave em 35 pips today so thats enough. Dont want to compound a loss since tomorrow is a different day. My momma told me there would be days like this....lol. Just goes to show you ya cant win em all.

you are right bo... today is quite crappy....
  • #4,792
  • Aug 6, 2008 8:20am Aug 6, 2008 8:20am
Took a long a very while back, made about 15pips, unfortunately I missed a great short oppurtunity, but I am glad I think I am getting the hand of this system. Yippie!!

Thanx
TheLgeace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #4,793
  • Aug 6, 2008 8:26am Aug 6, 2008 8:26am
Quoting TheLegace
Took a long a very while back, made about 15pips, unfortunately I missed a great short oppurtunity, but I am glad I think I am getting the hand of this system. Yippie!!

Thanx
TheLgeace.
Nice Job then !, better than I can say for myself today.
  • #4,794
  • Aug 6, 2008 8:43am Aug 6, 2008 8:43am
got 50pips from the short... thankx bo for this great system...
  • #4,795
  • Aug 6, 2008 8:52am Aug 6, 2008 8:52am
Chalk it up to experience. They say we learn more by our loses than we do our wins. And our buddy Mark Douglas says "Mistakes just point the way to something that we haven't learned yet and obviously need to know." Boy I'm being pointed all 'round!

Happy Pippin'
KC

Quoting Bobokus
Crappy day today so far, Im done until tomorrow I gave em 35 pips today so thats enough. Dont want to compound a loss since tomorrow is a different day. My momma told me there would be days like this....lol. Just goes to show you ya cant win em all.
  • #4,796
  • Aug 6, 2008 9:05am Aug 6, 2008 9:05am
Quoting xscamx
got 50pips from the short... thankx bo for this great system...
For experimenting I think I setup the fibs right, and I figured there was a short I was way late into, but since I'm on demo I would figure to see how well the trade may reach levels, I was able to close EUR/USD @ 19 pips. Going to work on other currencies as well, kudos for great system.

Thanx.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #4,797
  • Aug 6, 2008 9:17am Aug 6, 2008 9:17am
Quoting kc8flq
Chalk it up to experience. They say we learn more by our loses than we do our wins. And our buddy Mark Douglas says "Mistakes just point the way to something that we haven't learned yet and obviously need to know." Boy I'm being pointed all 'round!

Happy Pippin'
KC

Losses are just a part of what we do, its no big deal anymore.Its the end of the week that matters. Ive learned not to sweat the losses anymore. I could have made it back on this last push down but decided i am done for the day and will just wait for the next opportunity's that arise tomorrow.
  • #4,798
  • Aug 6, 2008 10:39am Aug 6, 2008 10:39am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting xscamx
i have close my long and now going short..... my targets would be 1.9495... how bout you
I was shooting for 1.9474 from last night, but I didn't make it there. I was too tired at around 7 EST when those inside bars were showing up so I closed everything and went to sleep. I seem to lose focus after about 10 hours of screen time. Pretty much I lost my patience at that point. I woke up and got in again at 1.9510 - 1.9508 for a scalp trade down, but I wasn't completely focused...reacting to every move up and down...not good. Still managed to increase account equity, and as Bo says, tomorrow is another day. Hope you did alright, was a little tricky.
"Wishful thinking dies hard." Igor T.
  • #4,799
  • Aug 6, 2008 11:24am Aug 6, 2008 11:24am
Quoting FxChi
I was shooting for 1.9474 from last night, but I didn't make it there. I was too tired at around 7 EST when those inside bars were showing up so I closed everything and went to sleep. I seem to lose focus after about 10 hours of screen time. Pretty much I lost my patience at that point. I woke up and got in again at 1.9510 - 1.9508 for a scalp trade down, but I wasn't completely focused...reacting to every move up and down...not good. Still managed to increase account equity, and as Bo says, tomorrow is another day. Hope you did alright, was a little tricky.
Mine was just being over confident and going to sleep with a trade running..so I paid for it.
  • #4,800
  • Aug 6, 2008 12:26pm Aug 6, 2008 12:26pm
hey bo... i would just like to ask you dont mine.... what would your stop loss be if lets say your in the wrong direction... how do you exactly determine that...
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