Powerful Fib Based System - by DAZfx

Forgot to mention… I take all my trades off the 15 minute chart but always look at the 1 and 4 hour. With the 15 minute I can use a very little stoploss and because I know what wave we should be going into on the higher degree, I can let my second contract run until subwaves tell me that it’s ready to pull back. And I only trade waves 3-5 and C of the 15 minute. That of course means that may trade wave A and 4 of the 1 hour, but only subwaves 3-5 and C within them. A bit hard to explain, so sorry if I’ve confused you.

Hello Everyone:

The system that I used was out of commission until today.

Last week I placed seven trades in the first two days of the week. So far this week, I have placed none. I am just getting back on-line today.

Anyway, the result from my trades was a total net of about USD $1,500. I had two losing trades for a total of USD $991.88 and five winning trades for a total of USD $2,535.63.

We shall see how the rest of this week goes.

Good to see that everyone is implementing what has been taught by Mike and our other veterans.

Let's become millionaires together.

I have received a few messages asking about the "System" that I use referring to the statement "The system that I use was out of commission" in my last post.

Just to let everyone know, the system that I was writing about is the computer laptop that I use to trade with. The trading system that I use is the New and Improved Daz system with some help from the ABCD system by Dra.

I decided to stay out of the market for the remainder of this week. This means that I placed no trades this week.

I pray that everyone has a great weekend and that we all enjoy huge pip profits next week.

Im curious, anyone tried using this with DIBS?

Good day traders,

Hope u all had nice weekend. I want us to meet in the room for like 20mins for a very important discussion on the new improved daz method.

skype room

Thanks

Hey, guys,

Been in the room for the 3rd wk, learning lots of stuff from kind people, special thanks to Naijafx (Mike), Chris and DLIBERATORS:

The aud/cad trade was the one covered lots of thing from Naijafx, the green horizontal line was was the 5sma retrace entry candle.

1. 4hr gartely pattern.
2. 1hr TL need to break and retest which Naijafx mentioned many many times.
3. when 1hr TL broken and before retesting, a hidden bull convergence there, Naijafx mentioned this on Monday.
4. Daz's setup entry.
5. Patience

We been watching this trade since last friday, triggered only yesterday

Again, wanna to repeat what I been told many times in the room:" Be patient and wait the market come to u"

Cheers,

Robin

Hi guys,

Is the Trading Rooms room still being used? The room was never open previously and I can't even login to Trading Rooms now. Has it moved to Skype?

Hello Guys,

I see a possible sell is forming in GU H1.

Not many setups these last days but it looks like we could have some this week in the daily timeframe.

hi there, we have gotten signals on erujpy, eurusd, usdjpy twice this week and all are winners

Could you give me the exact date and timeframe on which some of these signals appeared please ? I missed all of them...

Hello Everyone:

I have been trying to figure out how we stay in touch and so far I have no success.

I have no access to tradingroom.com. It is not working when I try to go to the website.

There is no-one in the skype room when I visit it.

How is everyone staying in touch?

I have been just trading on my own but I enjoy being with the group.

I look forward to an answer.

Quoting boomswitch

Disliked

Could you give me the exact date and timeframe on which some of these signals appeared please ? I missed all of them...

Ignored

I have traded USD/CHF, GBP/USD, and EUR/USD so far this week and they were all winners. I may have missed what others got but that's part of trading. Not all traders see the market the same way. Once I decided to make my own trading decisions and not listen to what others have to say my success ratio went up. Daz presented a simple trading method on this forum and somehow others made it more complicated. The setups are always there on different timeframes. I look for them on logical S/R areas not just trendlines and if I see a signal I take it and manage my trade as it evolves. Just my 2 Cents. Happy trading.

quite an age, been looking for u. would u plz elaborate more on the above statement................. its a bit ambiquous and might chase newbies away from the thread.

thanks man

Hey Mike. I didn't know you were looking for me. We should chat again sometimes. I'll try to elaborate. If you are really worried about newbies you should give them the most important advise a veteran can give. And that is they should make the trading system their own. No two traders are the same even if they follow the same system. Boy I wish someone had given me this advice when I started out. It would've saved me time and money both. We were fortunate enough to be part of this system when dazfx originally posted it. We chatted with him in our trading room and learned from him. Then he left and all of sudden people introduced this indicator and that indicator and this new rule and that new rule and so on. That's when I decided to bail out of this thread and the trading room. I learned the hard way information overflow can kill you in this business.
Daz introduced a simple way of trading and believe it or not it works. Each trader can then adapt the method in a manner that fits his/her personality. For example you discovered that drawing dynamic trendlines fit your trading style better and that's perfectly all right. But that doesn't mean that it's the only way to look for setups. It's just what you perceive as an optimal setup. I on the other hand like to look for previous highs and lows and drop to a lower time frame and look for setups. That doesn't mean my way is better than someone else's. It's just how I see the market.
So when someone posts a question wondering why he didn't see the setups you saw I tried to tell him to go back to the first page and try to understand the basics and make this system work for his style of trading and that's all.
Remember, you and I can follow the same system and produce drastically different results. You can get rich and I can go broke and that's the reality of trading. So don't take offense to what I say. The market humbled me in the past but gave me the experience I needed to turn the corner and if I can share my experience with a fellow trader I won't hesitate.
Take care my friend.

hello there,

I haven't visited this thread for some time and it looks very complicated to me nowadays when looking at your charts here. However, I spotted a very good opportunity for SHORT on the eur/gpb on the hourly. Entry point could be roughly around 0.7960 with stoploss no more than 0.7980. The pair has banged against the 78.6% retracement and in a smooth downtrend. Good luck. sorry that I cannot post the picture here.

see you guys in skype.

here is the chart.

sorry, here is the chart

wow, this eur/gbp trade stopped me out.

Anyway, scanning for new opportunities....

the mistakes that I made for this eur/gbp was that I was too confident for it. Stoch wasn't crossed down yet, as the same time, the confirmation candle was only forming and no entry candle yet.

We should enter only with the entry candle which is the third candle from the top.

Yep, violation of these rules will kill you.