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Powerful Fib Based System - by DAZfx

  • #1,281
  • Nov 15, 2008 8:59am Nov 15, 2008 8:59am
Good day traders We have discovered that there is delay in our skpye room and this delay have discouraged many traders from participating in the room. well, we are currently working on creating a yahoo conference room and I believe Robin(Room Cordinator) is almost through doing that. We will announce here once we are through Mike
  • #1,282
  • Nov 15, 2008 9:10am Nov 15, 2008 9:10am
hello guys, what's wrong with FF and this thread? Do you need a yahoo conference room?
  • #1,283
  • Nov 15, 2008 9:15am Nov 15, 2008 9:15am
Quote
Hi Daz ..

I didn’t try your method yet but it seem it is great but would you plz explain how you select A , B and C point and how you draw the Fib chart , as per what I know usually we take the highest and the lowest point last 24 hrs , is that right or you have other way

Hello, the market moves in a wave form, and we trade the latest wave swing once the global trend is known. we have the impulsive wave(movement along the global trend) and the corrective wave(the pull back)

Take for Instance GBPUSD, the global trend(daily) is bearish, we go to one hour and look for bearish wave not more than 12 candles and wait for retracement, then trade accordingly as per the rule in the first page.

Hope your question has been answered sastifactory.

Mike
  • #1,284
  • Nov 20, 2008 4:07pm Nov 20, 2008 4:07pm
Quoting Naijafx
Good day traders We have discovered that there is delay in our skpye room and this delay have discouraged many traders from participating in the room. well, we are currently working on creating a yahoo conference room and I believe Robin(Room Cordinator) is almost through doing that. We will announce here once we are through Mike

Hi Mike:

Just wondering what the latest is on the conference room with YAHOO.

Looking forward to joining everyone again.

FG
  • #1,285
  • Nov 20, 2008 4:15pm Nov 20, 2008 4:15pm
Quote
Hi Mike:

Just wondering what the latest is on the conference room with YAHOO.

Looking forward to joining everyone again.

FG

Hey, once we are through, we will inform everybody.......
  • #1,286
  • Nov 24, 2008 10:50pm Nov 24, 2008 10:50pm
hello trader,

here is the link to dazroom
http://tinyurl.com/5mvm65

see u there
  • #1,287
  • Dec 12, 2008 12:46pm Dec 12, 2008 12:46pm
I have a question concerning the original Daz strategy. One of his entry rules states that:

"At the precise entry point ... on the Stochastic Oscillator window, the fast stoch (blue line) has already crossed or is crossing the slow stoch (red dotted line) and hooking up/down ..."

For those that have traded with this approach, and maybe discussed the issue, does this mean that the Stoch cross and hook:

1. Must have occurred at the close of the Confirmation Bar, and must also be evident at the moment of entry, which would be near the 5ma, which could be some way from the Confirmation Bar close.

2. Needn't have occurred at the close of the Confirmation candle but must be evident at the moment of entry, near the 5ma, which could be some way from the Confirmation Bar close.

If the answer is (1) then the Stoch cross would show up after the trade was over, and also in backtests; but if the answer is (2), then the Stoch could 'uncross' again prior to the entry bar closing.

I'm posting this in both 'Daz' threads ...
All flesh is as grass
  • #1,288
  • Dec 12, 2008 2:31pm Dec 12, 2008 2:31pm
Quote
I have a question concerning the original Daz strategy. One of his entry rules states that:...
If i understand your question, here will be my response. I only trade when stoch is crossed and hooked after immediately the confirmation candle closes. Now for sma5, all it does is to give u better entries, most times signal will be way off the sma5 when it comes, but since sma5 is known as a moving average that attract price, wot i do is to place PO close to the sma5 and go away. But once price is close to sma5 when the method gives signal, u just enter at the market order. Hope ur question is answered?
  • #1,289
  • Dec 13, 2008 12:48am Dec 13, 2008 12:48am
Thanks for that. By the way, what's 'PO'?
All flesh is as grass
  • #1,290
  • Dec 13, 2008 4:35am Dec 13, 2008 4:35am
Quoting dod
Thanks for that. By the way, what's 'PO'?
pending order
  • #1,291
  • Dec 13, 2008 7:46am Dec 13, 2008 7:46am
Of course!

Thanks.
All flesh is as grass
  • #1,292
  • Dec 15, 2008 7:19am Dec 15, 2008 7:19am
Is anyone still trading this method ?

Does the 5 sma apply to the close or open ?
  • #1,293
  • Dec 15, 2008 12:49pm Dec 15, 2008 12:49pm
I use to the close
  • #1,294
  • Dec 15, 2008 2:46pm Dec 15, 2008 2:46pm
Thanks !
  • #1,295
  • Edited 1:12pm Dec 17, 2008 12:44pm | Edited 1:12pm
Confluence of reason

1. Daily trend is down
2. fib at 61.8
3. support turned into resistance(My favourite for taking daz)

find this kinda trade and u will be in money!


80% closed at +50pips, final tgt at 86.74
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  • #1,296
  • Dec 20, 2008 1:24pm Dec 20, 2008 1:24pm
This is a remarkable system indeed. This is the only system I trade from forexfactory and I have followed this system religiously right from the start. I am really surprised people have lost interest in this system because of the level of discretion involved.

Here is a trade I took yesterday, at the start of Frankfurt open. The entry candle was long gone, but since price was hovering in that region, I managed to sneak in a trade.

A Risk:Reward ratio of over 1:5. Not bad huh
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  • #1,297
  • Dec 22, 2008 3:15pm Dec 22, 2008 3:15pm
Quoting jamesdarren
This is a remarkable system indeed. This is the only system I trade from forexfactory and I have followed this system religiously right from the start. I am really surprised people have lost interest in this system because of the level of discretion involved.

Here is a trade I took yesterday, at the start of Frankfurt open. The entry candle was long gone, but since price was hovering in that region, I managed to sneak in a trade.

A Risk:Reward ratio of over 1:5. Not bad huh
Hi,

I discovered this thread yesterday and it looks a remarkable system.
I did already 4 trades, all winners! ( 1h TF)
do you only use it on 1h TF, or also on smaller TF's?

Thanks

Tibo
  • #1,298
  • Dec 22, 2008 3:42pm Dec 22, 2008 3:42pm
Quoting Tibo
Hi,

I discovered this thread yesterday and it looks a remarkable system.
I did already 4 trades, all winners! ( 1h TF)
do you only use it on 1h TF, or also on smaller TF's?

Thanks

Tibo
1hr and 4hr. Anything lower than 1hr reduces the effectiveness of this system.

I don't know, that is just from my experience.
  • #1,299
  • Dec 22, 2008 7:15pm Dec 22, 2008 7:15pm
I am in a trade atm.

EURGBP (1hr)
Possible -> 1 : 6.7 (Risk:Reward) ratio.

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  • #1,300
  • Dec 22, 2008 7:42pm Dec 22, 2008 7:42pm
I can see a trade developing on the EURCHF pair (1hr). The daily candles show bearish signs (lower highs and lower lows), plus bearish hidden divergence on the hourly chart all hint on price heading south.

Right now, the hourly candle is in the confirmation phase, so I will make an entry when the next (entry) candle tests the 5sma. Hopefully, the targets will be FE 50 or FE 61.8 depending on how small the S/L is. If the entry is too far from the retrace point, then the trade won't be executed.

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