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Fibonacci Trading with Bobokus

  • #6,101
  • Sep 30, 2008 6:28am Sep 30, 2008 6:28am
Quoting kpt1956
Bo, I went back to my posted screenshot and it seems to be functioning okay now, did you fix anything on it or was there a glitch when I first posted?
I cant edit other readers posts. It must have just been a glitch.
  • #6,102
  • Sep 30, 2008 6:30am Sep 30, 2008 6:30am
Quoting kpt1956
Bo, in all this credit turmoil I find it interesting that nobody seems to blame us currency traders for anything. Not that I want them to, but the "no shorting" rules in stocks would steam me if I was a stock trader. I mean for us its bread and butter. No shorting rules in forex would real suck.
The US cant really regulate a worldwide market , they like us are only participants.
  • #6,103
  • Sep 30, 2008 7:06am Sep 30, 2008 7:06am
Thanks Bo. "E PLURBIS BO"!!!! - " IN BO WE TRUST"
  • #6,104
  • Sep 30, 2008 7:15am Sep 30, 2008 7:15am
Quoting kpt1956
Thanks Bo. "E PLURBIS BO"!!!! - " IN BO WE TRUST"

LOL...
  • #6,105
  • Sep 30, 2008 7:17am Sep 30, 2008 7:17am
Quoting jicjoc
This is my current gu.
Comments Bo?

I really have to drum it into my head to just wait on the intraday levels to be respected. When they do, they give lovely pips like the one marked.

Instead i took a stupid long trade on the EU that i wasnt sure of at all.

Intraday levels, when respected, after a strong previous days move, are bankers!
I wish I woulda kept my short on the Euro, Oh well next wave.
  • #6,106
  • Sep 30, 2008 8:27am Sep 30, 2008 8:27am
Bo, one thing that helps me when I flip through the monthly, weekly, daily, 4hr and1 hr timeframes is I put an arrow marker at the last price bar up or down for bounces or rejections of the fib price levels. That way I just look for the arrow to know basic price bias with the fibs. Changing the arrow direction as bias changes. I've been right on price direction more times than not. Its simple and I don't have to think too hard about it. Also if price direction in all the time frames are in the same direction ( arrows all up or down ) its pretty much a no brainer which way the wind in blowing.
  • #6,107
  • Sep 30, 2008 8:54am Sep 30, 2008 8:54am
Quoting kpt1956
Bo, one thing that helps me when I flip through the monthly, weekly, daily, 4hr and1 hr timeframes is I put an arrow marker at the last price bar up or down for bounces or rejections of the fib price levels. That way I just look for the arrow to know basic price bias with the fibs. Changing the arrow direction as bias changes. I've been right on price direction more times than not. Its simple and I don't have to think too hard about it. Also if price direction in all the time frames are in the same direction ( arrows all up or down ) its pretty much a no brainer which way the wind in blowing.
Very good observation, this is why I like to use a split screen between my Daily, 4hr and 1 hr charts. As the smaller timeframe waveforms develope you can see the retracements and waveforms that happen inside the higher timeframe waveforms.
Once you see the senitment changing from the 1 hr and then 4 hr you get an early warning system to the Daily changing and once the Daily changes its usually sticks. Its a good way of observing market sentiment.
Nice job, it shows your doing your homework !
  • #6,108
  • Sep 30, 2008 8:57am Sep 30, 2008 8:57am
Damn I really missed the boat on the Euro today, got my scalps in but missed the overall move, its funny though because I was short and closed it....LOL.
Ive been scalping so much lately that the mentality is setting in on me or something.
  • #6,109
  • Sep 30, 2008 9:09am Sep 30, 2008 9:09am
Quoting Bobokus
Damn I really missed the boat on the Euro today, got my scalps in but missed the overall move, its funny though because I was short and closed it....LOL.
Ive been scalping so much lately that the mentality is setting in on me or something.
That's exactly what I did, I'm kinda paranoic, but I guess it takes one good move to show that market is finally moving normally.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,110
  • Sep 30, 2008 9:21am Sep 30, 2008 9:21am
GBP seems to be holding up rather well so far compared to the Euro.
Its rare youll see the Euro outpace GBP in amount of movement.
  • #6,111
  • Sep 30, 2008 9:47am Sep 30, 2008 9:47am
May be GU will take off too!
I missed the Euro as well
  • #6,112
  • Sep 30, 2008 10:09am Sep 30, 2008 10:09am
I guess I spoke too soon about GBP, the Dollar is sounding off like its got a pair today. This is the wheels falling off the wagon here Sherm.
  • #6,113
  • Sep 30, 2008 10:16am Sep 30, 2008 10:16am
I booked 171 pips on GU!
I still have 20% left to run.

All credit goes to Bob!
Thank you
  • #6,114
  • Sep 30, 2008 10:29am Sep 30, 2008 10:29am
I wonder where Shermantor goes..nowaday...

Sonic
  • #6,115
  • Sep 30, 2008 10:34am Sep 30, 2008 10:34am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I was short on cable since yesterday at around 9 or 10 during Asian session. Endured 100 pip whiplash twice (but long conditions were never triggered), then this morning during US session when it was dropping I bailed where support seemed to be holding and it looked like a rangy day and I was happy I made it out without a loss. But I missed the move by literally 1 hr (after about 12 hours of managing the trade through chop)....sheesh. I tell you man, the market has some sense of humor. LOL. Oh well, but hey Bo, that wine trick really does work...lol.
"Wishful thinking dies hard." Igor T.
  • #6,116
  • Sep 30, 2008 10:36am Sep 30, 2008 10:36am
WOW..

I had a sell stop at retracement short and got 150 pips... excellent
  • #6,117
  • Edited 11:01am Sep 30, 2008 10:42am | Edited 11:01am
Quoting FxChi
I was short on cable since yesterday at around 9 or 10 during Asian session. Endured 100 pip whiplash twice (but long conditions were never triggered), then this morning during US session when it was dropping I bailed where support seemed to be holding and it looked like a rangy day and I was happy I made it out without a loss. But I missed the move by literally 1 hr (after about 12 hours of managing the trade through chop)....sheesh. I tell you man, the market has some sense of humor. LOL. Oh well, but hey Bo, that wine trick really does work...lol.

LOL...soothe your mind your ass will follow.
  • #6,118
  • Sep 30, 2008 10:43am Sep 30, 2008 10:43am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting psneto
WOW..

I had a sell stop at retracement short and got 150 pips... excellent
Yeah you caught the last short condition I'm guessing. I got in on the second time the market showed a short condition based on swing from 7957 to 8182. Was very puzzling this morning watching the dollar index chart flying and cable grudgingly moving...lol. As Bo says we need to get used to trading through all types of market conditions.

Great job you caught it though!
"Wishful thinking dies hard." Igor T.
  • #6,119
  • Sep 30, 2008 10:44am Sep 30, 2008 10:44am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Bobokus
LOL...sooth your mind your ass will follow.

LOL...words of wisdom. LOL.
"Wishful thinking dies hard." Igor T.
  • #6,120
  • Sep 30, 2008 11:04am Sep 30, 2008 11:04am
Nice job to those who caught this move down and stuck to thier guns. Its a good boost to the account going into the rest of the week.
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