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Powerful Fib Based System - by DAZfx

  • #1,041
  • Sep 1, 2008 1:11pm Sep 1, 2008 1:11pm
USD/JPY - Short 60m TF
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  • #1,042
  • Sep 1, 2008 10:07pm Sep 1, 2008 10:07pm
Update for above post:

1st and 2nd Targets hit. 3rd order stopped out @ breakeven.
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  • #1,043
  • Sep 2, 2008 11:34pm Sep 2, 2008 11:34pm
here is eurusd trade that was triggered and all target hit
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  • #1,044
  • Sep 2, 2008 11:38pm Sep 2, 2008 11:38pm
usdchf, tgt 1 , 2 and 3 met
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  • #1,045
  • Sep 5, 2008 6:14am Sep 5, 2008 6:14am
GBP/CHF - Short 60m sept05
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  • #1,046
  • Sep 6, 2008 9:50am Sep 6, 2008 9:50am
Hello guyz, i wasn't in the room as i went to see my dad's dcotor in the neigbouring state. the man has been ill and been undergoing treatment.

GCHF lost! too bad, we lose some and win some.

But here is my observation and its worthy to note as we have discussed it before. Anytime the swing AB is more than 10-12candles, we should look at wot is happening in 4hrs, most times, it means that a wave is forming in 4hr.

If we check the 4hr chart, it will be seen that there was a variation of morning star, and in my own opinion, the short shouldn't have been initiated.

Good spot really, good lost as well. we learn from losses so as to guide against them in near future.

Well done guyz, i hope to join u all on monday.........

I will post my chart once i get home later in the day
  • #1,047
  • Sep 6, 2008 11:54am Sep 6, 2008 11:54am
can someone tell me where the chatroom is for this strategy?

thx
  • #1,048
  • Sep 6, 2008 12:25pm Sep 6, 2008 12:25pm
hi,

go to www.tradingroom.com and download the software. look for powerful fib system by daz in the communityroom section.

u r welcome
  • #1,049
  • Sep 7, 2008 6:20am Sep 7, 2008 6:20am
Quoting Naijafx
hi,

go to www.tradingroom.com and download the software. look for powerful fib system by daz in the communityroom section.

u r welcome
no such site
  • #1,050
  • Sep 7, 2008 6:43am Sep 7, 2008 6:43am
Quoting bladerunner
no such site
It's www.tradingrooms.com
  • #1,051
  • Sep 8, 2008 9:04am Sep 8, 2008 9:04am
Just syaing thanks to everyone that is keeping this blog alive. It was a great experience to join you guys in the trading room and just learn from you.
I have been trading live by myself since March. I had to figure out most things on my own.

I have been blessed to make some money with the different things that I tried but I always felt that I was guessing. This strategy has given me a lot of confidence in my trades. I placed my first three this morning using this method. I will keep you updated.

I learned a lot just being in the trading room with you guys today and part of last night. Thanks again for all your help.
  • #1,052
  • Sep 8, 2008 11:35am Sep 8, 2008 11:35am
The USD/CAD going LONG trade off the 4 hrs chart that I took this morning, hit it's first target @ 106.96, it is headed for the 2nd target @ 107.37. I only placed the trade based on the first target only since this was my first time using this system.

My total profit from this one trade is USD $439.32 or 43 pips.

As I get used to the system, I will place more lots.

The second trade that I made was CHF/JPY SHORT on the 4 hrs chart. This trade was placed at 96.25. This has taken out the first target of 95.64, but I placed my take profit on the second target of 95.11. I moved my stop loss to secure a minimum of 30 pips profit.

The third trade was AUD/CAD SHORT on the 4 hrs chart. This is positive 14 pips.

The 2nd and 3rd trades came from suggestions in the trading room this morning. thanks guys.

I do not know how to place charts as of yet, so I am unable to show them to you.
  • #1,053
  • Edited 3:35pm Sep 8, 2008 11:43am | Edited 3:35pm
The first chart is that of USDCAD 4hrs taken LONG.

Again, I placed only one trade, used only 1 lot and that was on the first target. So, for me this trade is closed for the day. Made 43 pips.

The second chart is of the CHF/JPY 4hrs SHORT trade. I placed my TP on the 2nd target for this one.

I did not include the third chart because it has a while to go yet.

CHF/JPY hit the 2nd target where I placed my TP for 100 pips profit. Total was USdD $1,055.56.

The AUD/CAD trade is still moving very slowly but still in profit.

I closed out the AUD/CAD trade for a 10 pips profit. It was just too slow for my liking. Total USD 103.32
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Click to Enlarge Name: chfjpy4hrs.gif Size: 28 KB
  • #1,054
  • Sep 9, 2008 11:47am Sep 9, 2008 11:47am
Just want to say thanks again to everyone that is willingly sharing their knowledge with us in the trading room.

Today, with the help of Mike, MikeyC, Liquid and Igel, I avoided entering three trades that would have gone the wrong way on me. They explained to me exactly why the trades would not work.

Mike actually told me about the resistance on the usd/jpy trade and later we saw what he was talking about was proven right.

Snoop helped me enter my only trade for the day so far eur/usd-short. He reminded me to take my profits quickly. I set my trade and left for about 30 mins and saw that I had made 35 pips for USD $350.00.

Thanks you guys, you are great individuals and fantastic teachers.

I recommend this thread to any new person. They will benefit from being with you in the trading room, not just to trade, but to learn to do so.

Thanks again.
  • #1,055
  • Sep 9, 2008 6:04pm Sep 9, 2008 6:04pm
Hello,

At the trading room the charts posted by liquid and najiaforex had different indicators in there. Appreciate if a tpl and the custom indicators used is posted for our benefit.

Thanks a lot.

TF
  • #1,056
  • Sep 9, 2008 9:36pm Sep 9, 2008 9:36pm
Quoting TradeForexFx
Hello,

At the trading room the charts posted by liquid and najiaforex had different indicators in there. Appreciate if a tpl and the custom indicators used is posted for our benefit.

Thanks a lot.

TF
TradeForexFx:

There is a special zigzag indicator, but as far as I know the fib lines are drawn manually, so are the trend lines.

You can find any templates or indicators for this system to the top of this thread in the upper right hand corner. Just click on the paperclip.

I hope this helps.
  • #1,057
  • Sep 9, 2008 10:11pm Sep 9, 2008 10:11pm
Thanks Forexgenius. I gathered that there is really no need for a template. However I do see that the lines from fibs also have specific words in them, telling you, for instance, that they represent the first/second/third targets. I cannot get these words appropriately written accross the target fib lines.

Also, apparently other indicators are also being used by liquid and najiaforex, and I think these are also considered when taking a decision to pull the trigger.

A template and any custom indicators will perhaps be useful.


Thanks

TF
  • #1,058
  • Sep 12, 2008 9:15am Sep 12, 2008 9:15am
After four days of trading this system with the guidance of some fantastic individuals, I made about 400 pips this week, about $4,000 USD. This is not as much as the veterans in the trading room, but I feel that for me as a beginner in Forex, this is quite decent.

I had some bad trades. the total pips won reflects the losses. I must say that the three bad trades that I had were all my fault. I got impatient and did not stick to the rules of the Daz system. Mike will have to hit my knuckles like the old Catholic nuns used to do.

I wish that more people would post their wins or losses because I know that there are many that are doing well with this system.

It is a very simple and profitable system.

Just learn to be patient and follow what the veterans tell you. Their input is quite accurate.

The best part is, I no longer have to try to figure out trades on my own.

I am learning a lot from the trading room.

Just want to say thanks again to Mike, MikeyC, Liquid, Cafew, Shermenator, poplar and everybody else. I know that I missed a few, I will get you in the trading room.
I look forward to next week.
  • #1,059
  • Sep 12, 2008 10:06am Sep 12, 2008 10:06am
Quote
After four days of trading this system with the guidance of some fantastic individuals, I made about 400 pips this week, about $4,000 USD. This is not as much as the veterans in the trading room, but I feel that for me as a beginner in Forex, this is quite decent. I had some bad trades. the total pips won reflects the losses. I must say that the three bad trades that I had were all my fault. I got impatient and did not stick to the rules of the Daz system. Mike will have to hit my knuckles like the old Catholic nuns used to do. I wish that more people would post their wins or losses because I know that there are many that are doing well with this system. It is a very simple and profitable system. Just learn to be patient and follow what the veterans tell you. Their input is quite accurate. The best part is, I no longer have to try to figure out trades on my own. I am learning a lot from the trading room. Just want to say thanks again to Mike, MikeyC, Liquid, Cafew, Shermenator, poplar and everybody else. I know that I missed a few, I will get you in the trading room. I look forward to next week.
yeah man! be ready for pips eruption next week have a blessed weekend
  • #1,060
  • Sep 12, 2008 4:35pm Sep 12, 2008 4:35pm
One may find a lot of encouraging words in the last posts. I like it!
Keep it up guys. I hope I will be able to join you soon!

Take care
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