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Yet Another very simple Fib Strategy

  • #81
  • Sep 25, 2008 7:51pm Sep 25, 2008 7:51pm
hi melpheos
i read your sexy stochasticks system, and i really be attracted your strategy, u said

"Rules are exactely the same but you completely ignore the 50 and focus only on the stochastic 20 and 5. Compare the following chart of a trade on €£ with the previous one. The red circle shows the aggressive trade based only on the stoch 20 and 5. As you can see on the stochastic window, the 50 are conflicting with the 20, yet the trade is very good and produce much more pips than the trade circled in green."

Sorry i do not know how to upload the picture , u can see it again at your pdf file. and i saw the stock 20,10,20 and i didn't see any thing special?? u said it conflict ?can u explain to me ?
thanks u very much
regard , onlydragon
  • #82
  • Oct 21, 2008 9:26am Oct 21, 2008 9:26am
I love it when a plan goes together

this is a trade i set up yesterday before going to bed. I dont have the confirmation yet as i am at work and dont have access to my home PC atm but my plan should have executed just perfectly (had a 90 pips SL for 1% risk - reduced my risk/trade a few weeks ago due to messed up situation and the very high volatility)

This should round 4% of my total equity.
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  • #83
  • Oct 24, 2008 3:20am Oct 24, 2008 3:20am
Great trade yesterday.

Double great entry and great exit but each trade was for 0.5% risk so it ended with a 4.5% on my total equity...

Too bad i was not wake up for the next trade
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  • #84
  • Edited Nov 5, 2008 1:10am Nov 4, 2008 3:31pm | Edited Nov 5, 2008 1:10am
Gave a shot on this one, i'm ten pips late but that's ok because the potential is quite high

edit : trade failed, exited @ +5, but this is not significant in term of % of equity.
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  • #85
  • Nov 27, 2008 2:26am Nov 27, 2008 2:26am
Hi Bro,

Great system. Just a quick question, do you enter the trade when candle break and close just above the 100% fibo for long entry?
  • #86
  • Nov 28, 2008 3:48pm Nov 28, 2008 3:48pm
Quoting Mcdegoh
Hi Bro,

Great system. Just a quick question, do you enter the trade when candle break and close just above the 100% fibo for long entry?
I prefer to wait for a close when i'm looking at the market but i often place limit orders when i cant watch the market and get caught in a reversal from time to time. In this case, i place one order on the first fib and one on the pivot with 1/2 of my total risk/trade on each trade but with the same stop level. Hence, the pivot pending order is bigger than the first fib order.
  • #87
  • Jan 12, 2009 2:45pm Jan 12, 2009 2:45pm
Anyone needs any explanation ? (risk of 2%, current locked gain 8%)
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  • #88
  • Jan 14, 2009 4:11pm Jan 14, 2009 4:11pm
Trade closed @ 130 for a yummy 20% of my total equity (less the swap)

You need only a few trade like that each month to make a living (if you have the time to trade, which is not my case )
  • #89
  • Edited 5:32am Jan 29, 2009 3:41am | Edited 5:32am
Another live trade on my other account (i have spread my assets on 2 brokers in case something wrong happens )

edit : stopped at break even...
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  • #90
  • Feb 18, 2009 2:23pm Feb 18, 2009 2:23pm
Two trade today, one losing, one winning big time.

This is something i do quite frequently when i dont really where the market is going and in particular after a big move without a retrace.

Lost 2% on the first trade and made 8% on the second.
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  • #91
  • Edited 8:20am Feb 27, 2009 5:56am | Edited 8:20am
Quick trade for 1%

Too bad i missed the 1st one

Closed @ +2% of my equity @1.2613
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  • #92
  • Mar 4, 2009 8:42am Mar 4, 2009 8:42am
It's just too simple, up 5% of my total equity with a 2% risk.

Just let your winner run and cut your losses.
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  • #93
  • Edited 8:12am Apr 13, 2009 5:41am | Edited 8:12am
Let see if it reaches my TP (8% of total trading account)

edit : closed @ 2% gain, not moving...
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  • #94
  • Apr 16, 2009 3:56am Apr 16, 2009 3:56am
Melpheos, hello, how are you doing? why keeping silence?
say u see an upward move in a downtrend.. suppose it retraces and breaks back down through 61.8 lvl... u get it? do u go short here?
i tried a couple of times its working as well ... but its good to have a tape-reading ability not use it just mechanically... what do u say?
  • #95
  • Apr 17, 2009 5:22am Apr 17, 2009 5:22am
Quoting melpheos
Let see if it reaches my TP (8% of total trading account)

edit : closed @ 2% gain, not moving...
yes I actually would appreciate an explanation.. why did you draw fibo not from the very bottom of the move up? what's the logics behind choosing the level of the start of the move?
  • #96
  • Apr 18, 2009 6:50am Apr 18, 2009 6:50am
Quoting coaster
yes I actually would appreciate an explanation.. why did you draw fibo not from the very bottom of the move up? what's the logics behind choosing the level of the start of the move?
This is where experience comes into play. The move at night was not very big for GY and the London open around 7AM is a much better starting point to draw the fibs. Yet, if you take as start of the move in the live trade i made screenshot of 146.40ish zone, you also had an entry at the same level.

Quoting coaster
Melpheos, hello, how are you doing? why keeping silence?
say u see an upward move in a downtrend.. suppose it retraces and breaks back down through 61.8 lvl... u get it? do u go short here?
i tried a couple of times its working as well ... but its good to have a tape-reading ability not use it just mechanically... what do u say?
No strategy is perfect. A clear break above 61.8lvl is for me a cancellation of the move so in this case i'd rather wait to see what's going on. Never be in a rush to trade.

Have a look on this other strategy http://www.forexfactory.com/showthread.php?t=162444 it is much more mechanical
  • #97
  • Apr 20, 2009 2:24am Apr 20, 2009 2:24am
thanks Melpheos.. as i can see now it's all abt trying to figure out where the "genuine" move began which could constitute an impulsive (as e-wavers define it) leg which has better chances of having a decent follow-trough after correction...
thank u and i ll look up the link u mentioned

have a nice week ahead!
  • #98
  • Apr 20, 2009 5:37am Apr 20, 2009 5:37am
Melpheos, also..
it looks definitely more conservative to play off 61.8 line.. a better risk/reward and keeping u more calm in a losing strings...
on the other side u hv less potential trades..
so the quest is do u find that more opportunities to trade make a good compensation for bigger risk? also what's yr feeling abt entering in 1/3's at each fibo lvl? do u feel that would give much better results?
thanks for yr reply in advance!
  • #99
  • Apr 21, 2009 1:28am Apr 21, 2009 1:28am
Quoting coaster
Melpheos, also..
it looks definitely more conservative to play off 61.8 line.. a better risk/reward and keeping u more calm in a losing strings...
on the other side u hv less potential trades..
so the quest is do u find that more opportunities to trade make a good compensation for bigger risk? also what's yr feeling abt entering in 1/3's at each fibo lvl? do u feel that would give much better results?
thanks for yr reply in advance!
It's absolutely right but i require much more trade management and i prefer to have only one trade usually but you can use this trade management on daily TF.

Following trade might go wrong, i have just figured to double top...
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  • #100
  • Apr 21, 2009 6:46am Apr 21, 2009 6:46am
thanks for your reply very much , Melpheos!
have a nice one ahead!
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