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Fibonacci Trading with Bobokus

  • #7,341
  • Dec 17, 2008 6:36am Dec 17, 2008 6:36am
LOL trading is like stealing candy from a baby lol

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  • #7,342
  • Dec 17, 2008 6:40am Dec 17, 2008 6:40am
Quoting Shermenator
If your not going to be in front of it dont place it past 4150

and target I am going for the 3911 area....you can use what you mentioned if you like
What do you think the chances are of it not getting past 1.3948?
  • #7,343
  • Dec 17, 2008 6:45am Dec 17, 2008 6:45am
Patience where are u?
Eur seems good for now.
I exit on loss.
  • #7,344
  • Dec 17, 2008 6:49am Dec 17, 2008 6:49am
Quoting hiswords
Patience where are u?
Eur seems good for now.
I exit on loss.
Why did you exit on loss?
  • #7,345
  • Dec 17, 2008 6:54am Dec 17, 2008 6:54am
Alright guys here is my new update on this pair....

decrease the stop loss on this puppy to no higher then 4140...

If you took all my trades no matter what happends its a winner day
  • #7,346
  • Dec 17, 2008 6:55am Dec 17, 2008 6:55am
Quoting hiswords
Patience where are u?
Eur seems good for now.
I exit on loss.

dont worry my friend...what matters is that your getting experience....

I hope you guys get experience from the way I manage my trades
  • #7,347
  • Dec 17, 2008 6:57am Dec 17, 2008 6:57am
Quoting angierosed
Why did you exit on loss?


I actualy set a very tight stop loss for it while i was going out and the stop got hit.
I won the remaning trades,so am still in profit today.Anyway,glad am back with you guys here.
  • #7,348
  • Dec 17, 2008 7:24am Dec 17, 2008 7:24am
EURUSD is bein a pain...the gbpusd is bouncing up at a long level......causing some movement up....I have reduced my stop loss to exactly 4138....all I care about now is protecting the profits from my other 2 won trades

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  • #7,349
  • Dec 17, 2008 7:28am Dec 17, 2008 7:28am
In my picture above we need to see that white fibb hold if not our trade will be getting kind of crappy lol
  • #7,350
  • Dec 17, 2008 8:17am Dec 17, 2008 8:17am
Alright guys I have lost in my eurusd short....sucks lol but its part of trading....had a small growth of

r .04

like I got tought....what matters is winning every night
  • #7,351
  • Dec 17, 2008 8:31am Dec 17, 2008 8:31am
Quoting Shermenator
Alright guys I have lost in my eurusd short....sucks lol but its part of trading....had a small growth of

r .04

like I got tought....what matters is winning every night
I think was the right play on EUR anyway.Mkt stop right at the Down Trend Pivot point from the Daily chart which carries a lot of weight.After that up move it was logic to see some sort of retracement on EU as well.
  • #7,352
  • Dec 17, 2008 9:12am Dec 17, 2008 9:12am
If it's not down is up...lol

I;m long on euro and up about 80pips right now.
  • #7,353
  • Dec 17, 2008 9:40am Dec 17, 2008 9:40am
Took 80% off the table at T1.

Again, the short Shermenator presented earlier was the right decision at the time . Not all the trades will always be winners.He is presenting excellent trading samples based on Bobokus strategy .

Thank you Sherm
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  • #7,354
  • Dec 17, 2008 10:15am Dec 17, 2008 10:15am
Quoting speedarad
If it's not down is up...lol

I;m long on euro and up about 80pips right now.

Sweet trade man....yea I had a good trading ...the eurusd sucked lol....but its alright it seems to keep on making me loose lol ....
  • #7,355
  • Dec 17, 2008 11:02am Dec 17, 2008 11:02am
Quoting Shermenator
Sweet trade man....yea I had a good trading ...the eurusd sucked lol....but its alright it seems to keep on making me loose lol ....

If Bernie Madoff would known you he may not be in trouble right know .

You put some great trades out there.

If I would be some hot shot on Wall Street I make sure U work for me!
  • #7,356
  • Dec 17, 2008 11:15am Dec 17, 2008 11:15am
Quoting speedarad
Took 80% off the table at T1.

Again, the short Shermenator presented earlier was the right decision at the time . Not all the trades will always be winners.He is presenting excellent trading samples based on Bobokus strategy .

Thank you Sherm
hey,i'm newbie and need a little bit for help.How i understand fibonaci is one of most serious tools for trends analysing.Maybe you can say what time frame is the best to use fibo and maybe is some information source about this tools,how to use and etc.
Thank you!
All i need is just to be here and now.
  • #7,357
  • Dec 17, 2008 12:13pm Dec 17, 2008 12:13pm
Quoting nasdakas
hey,i'm newbie and need a little bit for help.How i understand fibonaci is one of most serious tools for trends analysing.Maybe you can say what time frame is the best to use fibo and maybe is some information source about this tools,how to use and etc.
Thank you!
There are different ways to use the fib tools. In this thread what you have is more like a combination of fibs which would help you make your trading decision. Fibs works in any time frame the difference is the size of the swing you measure.However I don't recommend to go on a lower then 1hr. because on the small TF is a lot of noise and too many false breakouts.
If you're interested in learning how we use the fibs here, you will need to start from page 1 because is a lot of material presented by Bobokus and it's no way I can compress that in one post.I will happy to help you if you have specific question in your journey and there are others who can help too.
I also post the updated Daily charts for Eur and Gbp last night .You can download the templates (good for any MT 4 platform) which include all the fibo tools we use.
  • #7,358
  • Dec 17, 2008 12:50pm Dec 17, 2008 12:50pm
Quoting speedarad
If Bernie Madoff would known you he may not be in trouble right know .

You put some great trades out there.

If I would be some hot shot on Wall Street I make sure U work for me!
LOL!!!

Alright guys I will go to sleep now and be online tomorrow again....( more like in a couple of hours haha)
  • #7,359
  • Dec 17, 2008 4:33pm Dec 17, 2008 4:33pm
Quoting speedarad
Took 80% off the table at T1.

Again, the short Shermenator presented earlier was the right decision at the time . Not all the trades will always be winners.He is presenting excellent trading samples based on Bobokus strategy .

Thank you Sherm
why did you buy there, and whats with that last fib you placed, i dont see how that last one had any importance?

I would have shorted at or around 4078 when price broke last candle lows( 5 candles over), and as usual get screwed over in that rally.
  • #7,360
  • Dec 17, 2008 5:54pm Dec 17, 2008 5:54pm
It seems quite difficult to trade against the strong uptrend in Euro as the interest rate in US has been cut more than expected and a hawkish tone of ECB and dovish tone on Bank of England and poorer economic data from England.
I had a buy limit order at 50% intraday before I went to bed but as the trend was too strong it was never triggered.
Later during the day the break of the high could be taken and we would have reached target 1 and it is moving towards target 2 as you can see on the chart but unfortunately I was not at the screen at the time and missed the train and did not want to chase the price.
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