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Powerful Fib Based System - by DAZfx

  • #1,061
  • Sep 13, 2008 3:21am Sep 13, 2008 3:21am
I would like to post a big thank you to all in the trading room.

I found this forum 2 weeks ago and spent a week studying it and this week I joined the trading room.

I spent a few days lurking and getting a better understanding of the system. It helped me to truly understand that trading is all about patience and not how many trades I can make in a day.

Forexgenius was actively asking questions which helped me to gain a lot of insight from all the answers and on wednesday I personally joined the discussions and even though I thought I understood it all I was blessed by the insights of the members and avoided entering a trade.

Eventually I entered a trade and it was a success. So I can say it is 1/1 for me.

I also feel I learn so much more by focussing on the 4h and 1h TF's as it helps to take out a lot of emotion with the trades.

I am looking forward to another great week next week.
  • #1,062
  • Edited 12:30pm Sep 17, 2008 9:33am | Edited 12:30pm
It took me a couple days to post this update so there will be no chart posted because I do not know how to highlight and put all the pretty symbols on yet. The chart would be two days old and I would have to identify points on the charts.

On Sunday night with MikeyC's help,we analyzed three pairs, the GBPJPY, CADJPY and AUDJPY. The biggest concern that MikeyC had was the more than normal stop loss that would have to be placed on GBPJPY. All the setups looked good.

My concern was trading during the Asian session because I have read many times that the market is so slow during this time that one could actually lose money trading during this time. MikeyC mentioned to me that he had no problems trading during this session; but he could understand why other people would feel that way.

I placed the three trades all short and went to bed. I only placed one lot on each currency because I am still learning the DAZ system. To make up for placing only one lot, I normally place my TP on the second or third take profit point. When I woke up, all the trades had been closed.

CADJPY - I placed this trade for a profit of 11 pips or USD $104.45, because I was testing the knowledge that I had just gained in the trading room the day before about resistance. I knew that price would meet resistance 14 pips away. It worked. I took profit at 11 to be safe. These guys are very knowledgeable.

AUDJPY - This trade closed for 93 pips or USD $885.46.

GBPJPY - This was the trade with the stop loss of over 100 pips. It closed for 260 pips or USD $2,486.14. The risk/reward ratio was about 1:2. I just learned this concept last week.

The total pips made just on Monday were 364 pips or USD $ 3,476.05.

Just in case you are wondering, I do trade with FULL lots and my account is live. These are all LIVE trades.

I continue to learn a lot from everyone on the trading room and pray that one day I will give back more than I have received.

In closing, this thread is fantastic for a new person to really learn down to earth profitable techniques. The experienced guys like Mike, MikeyC, Liquid, Poplar, Shermenator, Cafew and Snoop are very patient, knowledgeable and extremely helpful.

For the guys that are experienced in this market, join this thread and work with a system that really is simple and that works. Just don't try to taint it with your other systems that you know because Mike and the other guys will jump all over you(ha,ha), in a good way !!!


Thanks again guys.
  • #1,063
  • Sep 17, 2008 10:54am Sep 17, 2008 10:54am
Quoting forexgenius
It took me a couple days to post this update so there will be no chart posted because I do not know how to highlight and put all the pretty symbols on yet. The chart would be two days old and I would have to identify points on the charts.

On Sunday night with MikeyC's help,we analyzed three pairs, the GBPJPY, CADJPY and AUDJPY. The biggest concern that MikeyC had was the more than normal stop loss that would have to be placed on GBPJPY. All the setups looked good.

My concern was trading during the Asian session because I have read many times that the market is so slow during this tme that one could actually lose money trading during this time. MikeyC mentioned to me that he had no problems trading during this session; but he could understand why other people would feel that way.

I placed the three trades all short and went to bed. I only placed one lot on each currency because I am still learning the DAZ system. To make up for placing only one lot, I normally place my TP on the second or third take profit point. When I woke up, all the trades had been closed.

CADJPY - I placed this trade for a profit of 11 pips or USD $104.45, because I was testing the knowledge that I had just gained in the trading room the day before about resistance. I knew that price would meet resistance 14 pips away. It worked. I took profit at 11 to be safe. These guys are very knowledgeable.

AUDJPY - This trade closed for 93 pips or USD $885.46.

GBPJPY - This was the trade with the stop loss of over 100 pips. It closed for 260 pips or USD $2,486.14. The risk/reward ratio was about 1:2. I just learned this concept last week.

The total pips made just on Monday were 364 pips or USD $ 3,476.05.

Just in case you are wondering, I do trade with FULL lots and my account is live. These are all LIVE trades.

I continue to learn a lot from everyone on the trading room and pray that one day I will give back more than I have received.

In closing, this thread is fantastic for a new person to really learn down to earth profitable techniques. The experienced guys like Mike, MikeyC, Liquid, Poplar, Shermenator, Cafew are very patient, knowledgeable and extremely helpful.

For the guys that are experienced in this market, work with a system that really is simple and works.


Thanks again guys.

Glad to see you are doing well - keep it up!
  • #1,064
  • Sep 17, 2008 11:59am Sep 17, 2008 11:59am
Quote
n closing, this thread is fantastic for a new person to really learn down to earth profitable techniques. The experienced guys like Mike, MikeyC, Liquid, Poplar, Shermenator, Cafew are very patient, knowledgeable and extremely helpful.
wow! u r doing great! we give God the glory for making us to meet Daz who taught this method and wot he did is just wot we are passing unto others. U r blessed beyond imaginations
  • #1,065
  • Edited 7:12pm Sep 17, 2008 12:55pm | Edited 7:12pm
It was great to watch everyone shooting setups for possible trades all over the place. For me, it got quite overwhelming.

Some folks were getting concerned that no trades were placed on Tuesday due to no good setups. Mike mentioned to us that we will make up for all days missed. That is just the way it is. Again, mike had to remind us to be patient, not to manufacture trades. Mike was right, there were many trades this morning.

I placed three trades this morning. Below is the update on CAD/JPY which hit it's target with 64 pips or USD $612.55. I kept the take profit on the first target. I am still only trading one lot.

I also placed trades on NZD/JPY which was at USD $1,200 but is down to USD $500. I still have it open and EURAUD which reached over USD $1,600. It is currently at USD $1,200. I will keep you updated.

As I was typing this, I checked the trades and closed out NZD/JPY for a total of USD $133.35. Well, I still got a profit out of it.

I let the EUR/AUD trade go and it bounced back to hit my TP for a total of 216 pips or USD $1,707.54.

So my total for today is 294 pips or USD $ 2,453.44.

I must say thanks to Liquid and Poplar who were quite patient with me last night while I asked questions about the charts that Liquid posted. thanks for sharing your knowledge so freely guys.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy4hrs.gif Size: 26 KB
  • #1,066
  • Sep 18, 2008 5:31pm Sep 18, 2008 5:31pm
Quoting forexgenius
It was great to watch everyone shooting setups for possible trades all over the place. For me, it got quite overwhelming.

Some folks were getting concerned that no trades were placed on Tuesday due to no good setups. Mike mentioned to us that we will make up for all days missed. That is just the way it is. Again, mike had to remind us to be patient, not to manufacture trades. Mike was right, there were many trades this morning.

I placed three trades this morning. Below is the update on CAD/JPY which hit it's target with 64 pips or USD $612.55. I kept the take profit on the first target. I am still only trading one lot.

I also placed trades on NZD/JPY which was at USD $1,200 but is down to USD $500. I still have it open and EURAUD which reached over USD $1,600. It is currently at USD $1,200. I will keep you updated.

As I was typing this, I checked the trades and closed out NZD/JPY for a total of USD $133.35. Well, I still got a profit out of it.

I let the EUR/AUD trade go and it bounced back to hit my TP for a total of 216 pips or USD $1,707.54.

So my total for today is 294 pips or USD $ 2,453.44.

I must say thanks to Liquid and Poplar who were quite patient with me last night while I asked questions about the charts that Liquid posted. thanks for sharing your knowledge so freely guys.
Glad to see you doing well. =)
Keep it up, and don't be afraid to ask as many questions as possible! It's the only way to learn sometimes =)
  • #1,067
  • Sep 19, 2008 2:33am Sep 19, 2008 2:33am
hi just want to ask is tradingrooms ok? i can't enter it.
  • #1,068
  • Sep 19, 2008 2:50am Sep 19, 2008 2:50am
Poplar me too. It looks there is problem on their site
  • #1,069
  • Sep 19, 2008 3:49am Sep 19, 2008 3:49am
Quoting forexgenius
It was great to watch everyone shooting setups for possible trades all over the place. For me, it got quite overwhelming.

Some folks were getting concerned that no trades were placed on Tuesday due to no good setups. Mike mentioned to us that we will make up for all days missed. That is just the way it is. Again, mike had to remind us to be patient, not to manufacture trades. Mike was right, there were many trades this morning.

I placed three trades this morning. Below is the update on CAD/JPY which hit it's target with 64 pips or USD $612.55. I kept the take profit on the first target. I am still only trading one lot.

I also placed trades on NZD/JPY which was at USD $1,200 but is down to USD $500. I still have it open and EURAUD which reached over USD $1,600. It is currently at USD $1,200. I will keep you updated.

As I was typing this, I checked the trades and closed out NZD/JPY for a total of USD $133.35. Well, I still got a profit out of it.

I let the EUR/AUD trade go and it bounced back to hit my TP for a total of 216 pips or USD $1,707.54.

So my total for today is 294 pips or USD $ 2,453.44.

I must say thanks to Liquid and Poplar who were quite patient with me last night while I asked questions about the charts that Liquid posted. thanks for sharing your knowledge so freely guys.
Nice trading ForexGenius...
  • #1,070
  • Edited 7:09am Sep 19, 2008 7:05am | Edited 7:09am
Hi guys:

I have been reading about certain brokers raising what they charge for spreads; it has increased dramatically.

I have also been told of brokers that have changed their rollover rates policy practically overbight. Individuals that had gbp/jpy LONG are now paying interest instead of receiving. Other currency pairs have also been affected.

I use ODL, everything is still the same with them.

Alpari traders have been hit hard.

Please check your broker to see if you are affected.

To see this information for yourself, please go to the main page of Forex Factory. Go down to Trader Discussion and choose "Why I get negative interest when I have gbp/jpy LONG?"
  • #1,071
  • Sep 21, 2008 7:03am Sep 21, 2008 7:03am
I traded three days last week; Monday, Wednesday and 1/2 day on Friday.

My biggest lesson learned was to double check any potential trades with everyone in the trading room. I placed two trades based on the DAZ system guidelines on my own and they both were losers. I am sure that I missed something in placing these trades. These are my first two losses following the DAZ system rules. The two trades were USD/CAD LONG and the AUD/USD SHORT; these were both off the 4 hrs chart in the late afternoon on Wednesday. I think the timing of these trades is the culprit in them going the opposite direction.

Despite the 2 1/2 days trading and the two losses, I finished the week with a total of USD $4,334.77 after the losses are subtracted from the total.

The market is quite interesting at the moment. I look forward to learning what the veterans are thinking later tonight and the early morning.

Again, I extend my thanks to Naijaforex(Mike), Poplar, Liquid, Shermenator, MikeyC and evryone else that I am unable to remember at the moment.

It is great to see the new guys to the forum, but Forex veterans(Oryx), beginning to provide their insight and expertise.

Together we will win !!!

Please remember to post your results. We can all learn from them. I hope that Mike does not mind me stating this, please do not think that your result has to be profitable to be posted. There are many lessons to be learned from trades that did not generate a profit.
  • #1,072
  • Sep 21, 2008 7:16am Sep 21, 2008 7:16am
Quote
I traded three days last week; Monday, Wednesday and 1/2 day on Friday.

My biggest lesson learned was to double check any potential trades with everyone in the trading room. I placed two trades based on the DAZ system guidelines on my own and they both were losers. I am sure that I missed something in placing these trades. These are my first two losses following the DAZ system rules. The two trades were USD/CAD LONG and the AUD/USD SHORT; these were both off the 4 hrs chart in the late afternoon on Wednesday. I think the timing of these trades is the culprit in them going the opposite direction.

Despite the 2 1/2 days trading and the two losses, I finished the week with a total of USD $4,334.77 after the losses are subtracted from the total.

The market is quite interesting at the moment. I look forward to learning what the veterans are thinking later tonight and the early morning.

Again, I extend my thanks to Naijaforex(Mike), Poplar, Liquid, Shermenator, MikeyC and evryone else that I am unable to remember at the moment.

It is great to see the new guys to the forum, but Forex veterans(Oryx), beginning to provide their insight and expertise.

Together we will win !!!

Please remember to post your results. We can all learn from them. I hope that Mike does not mind me stating this, please do not think that your result has to be profitable to be posted. There are many lessons to be learned from trades that did not generate a profit.

Great! am happy that u r doing very well and that is the reason why the room was opened.

We can all learn from them. I hope that Mike does not mind me stating this, please do not think that your result has to be profitable to be posted.

there are losers we posted on the thread. its quite cumbersome for me to keep up with the the thread and the room.
  • #1,073
  • Sep 21, 2008 7:36am Sep 21, 2008 7:36am
Quote
My biggest lesson learned was to double check any potential trades with everyone in the trading room. I placed two trades based on the DAZ system guidelines on my own and they both were losers. I am sure that I missed something in placing these trades. These are my first two losses following the DAZ system rules. The two trades were USD/CAD LONG and the AUD/USD SHORT; these were both off the 4 hrs chart in the late afternoon on Wednesday. I think the timing of these trades is the culprit in them going the opposite direction.

Sorry, u were caught in the trend reversal/correction saga. i was also caught is some as well! we can't totally eradicate losing else we will not be in the market trading.

all we do is to ensure that our winners far exceed our losers and thank God you achieved that feat.

attached is my TL analysis for ucad daily, i thinking shorting to 1.2?? atmosphere is safe.

have a pipful week ahead

your partner in progress
Naijafx
Attached Image (click to enlarge)
Click to Enlarge Name: ucad.gif Size: 21 KB
  • #1,074
  • Sep 21, 2008 4:35pm Sep 21, 2008 4:35pm
I use this indicator for bar/candle time to end. I am posting this because I see some of you guys in chat room use an older version.
Try using this one. For those unfamiliar with applying it, download it to
//metatrader//experts/indicators --> restart MT4 --> you will find it under Custom indicators.

See you in chat rooms.
Attached File(s)
File Type: mq4 EJ_CandleTimev2a.mq4   3 KB | 606 downloads
  • #1,075
  • Sep 21, 2008 7:19pm Sep 21, 2008 7:19pm
Quoting bee24
I use this indicator for bar/candle time to end. I am posting this because I see some of you guys in chat room use an older version.
Try using this one. For those unfamiliar with applying it, download it to
//metatrader//experts/indicators --> restart MT4 --> you will find it under Custom indicators.

See you in chat rooms.
Hi Bee24:

Thanks for the updated indicator. It is much nicer; especially with the timer around the chart.
  • #1,076
  • Sep 23, 2008 2:04am Sep 23, 2008 2:04am
Quoting forexgenius
Hi Bee24:

Thanks for the updated indicator. It is much nicer; especially with the timer around the chart.
Hello Fg., what exactly is the usefullness of this indicator?
God's Love For You Is Sure Never You Doubt It
  • #1,077
  • Sep 23, 2008 2:27am Sep 23, 2008 2:27am
Hi,
Anyone having problem logging in to trading room as well? Invalid username and password....I'm sure no typo mistake

Couldn't even re-register as well...
  • #1,078
  • Sep 23, 2008 2:49am Sep 23, 2008 2:49am
Quoting lefteye
Hi,
Anyone having problem logging in to trading room as well? Invalid username and password....I'm sure no typo mistake

Couldn't even re-register as well...
I don't know what the problem is, its been like this for a few days now, maybe Naijafx might concider moving to a different trading room.
  • #1,079
  • Sep 23, 2008 3:38am Sep 23, 2008 3:38am
Guyz do you have the same problem like me? I can't enter to any trading room. Every trading room is offline for a few days.
  • #1,080
  • Sep 23, 2008 4:22am Sep 23, 2008 4:22am
Same here with trading room, keeps closing. Anyone heard from Naija at all.
Can anyone explain why when I put that indicator that bee24 on, it makes my range indicator disappear from the same corner. Can it be manually placed on another part of the screen.

Regards,

Pipmania
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