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Fib 4Hour MTF Moving Average

  • #21
  • Jan 28, 2009 1:44am Jan 28, 2009 1:44am
Hi robby,

Just ask a few questions.

Q1) May i know what risk percentage you use for this strategy. I saw in the first few posts that the account statement that you mostly trade 0.1, 0.2 and 1.0 lot. The stoploss can be up to 400pips

Q2) Where should i take the profit at?

Q3) Since you had trade more than us. what is the average fib percentage you encountered.?For example, instead of 28.2%, it start to retracement. Most of the time, it strat at 58%.

regards
jin
  • #22
  • Jan 28, 2009 1:46am Jan 28, 2009 1:46am
hi and thanks for sharing your method
attached is a chart of EU where i have placed 2 arrows , please let me know if i understood well what u are doing .
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eu example.gif Size: 31 KB
  • #23
  • Jan 28, 2009 2:12am Jan 28, 2009 2:12am
Quoting jinsen
Hi robby,

Just ask a few questions.

Q1) May i know what risk percentage you use for this strategy. I saw in the first few posts that the account statement that you mostly trade 0.1, 0.2 and 1.0 lot. The stoploss can be up to 400pips

Q2) Where should i take the profit at?

Q3) Since you had trade more than us. what is the average fib percentage you encountered.?For example, instead of 28.2%, it start to retracement. Most of the time, it strat at 58%.

regards
jin
1) i trade max 10% of my account, the statement is from a demo which i am trying to stress to see how far can i go with this, the money management itīs up to you and how much yopu can handle
2) i use a trailing Stop and usually let them run until closes automatically if i am not at the screen, demo it and get the hang of it
3) i donīt really understand your question, i use 38.2 and 61.8 as entries, only those, sometimes bounces the 38.2, sometime the 61.8, sometimes the 50% (which i donīt use)
  • #24
  • Jan 28, 2009 2:20am Jan 28, 2009 2:20am
Quoting samer960
hi and thanks for sharing your method
attached is a chart of EU where i have placed 2 arrows , please let me know if i understood well what u are doing .
thanks
Here
Attached Image (click to enlarge)
Click to Enlarge Name: eu examplee.png Size: 17 KB
  • #25
  • Jan 28, 2009 2:25am Jan 28, 2009 2:25am
Here are the currently open trades and the pendings, letīs see how they end up
Attached Image (click to enlarge)
Click to Enlarge Name: 1-28-2009 current.jpg Size: 53 KB
  • #26
  • Jan 28, 2009 2:35am Jan 28, 2009 2:35am
is this consider

i missed the 38.2% but since it moved to 50%. I enter short.
is it advisable for renentry if fib had been retested
Attached Image (click to enlarge)
Click to Enlarge Name: eggbpusd.gif Size: 24 KB
  • #27
  • Jan 28, 2009 2:42am Jan 28, 2009 2:42am
Quoting jinsen
is this consider

i missed the 38.2% but since it moved to 50%. I enter short.
is it advisable for renentry if fib had been retested
I donīt use the 50% for entries,
Attached Image (click to enlarge)
Click to Enlarge Name: eggbpusd1.png Size: 21 KB
  • #28
  • Jan 28, 2009 2:47am Jan 28, 2009 2:47am
hi again
why u hhave a pending short order on EU at 1.3315 ? could explain why u took this panding order
thank u
  • #29
  • Jan 28, 2009 2:59am Jan 28, 2009 2:59am
Quoting robby2007
Here are the currently open trades and the pendings, letīs see how they end up
I think I understand your concept but looking at your current trading chart, I can't figur out your entries for two of them. Can you show your chart for the EU with your FOB retracements? I can't get your sell figure no matter how I slice the FIB tool. Thanks.
  • #30
  • Jan 28, 2009 3:00am Jan 28, 2009 3:00am
Quoting samer960
hi again
why u hhave a pending short order on EU at 1.3315 ? could explain why u took this panding order
thank u
Supply and demand, something all of us should know or learn
Attached Image (click to enlarge)
Click to Enlarge Name: EU resistance.jpg Size: 88 KB
  • #31
  • Jan 28, 2009 3:01am Jan 28, 2009 3:01am
Quoting robby2007
It is, but that is the latest movement which was without a retrace, plus it is pretty far away from the MA, plus i never said donīt take the trades against the MA, but if you take them use a smaller TP or TS, of course i am looking to short this currency around 129.30, if it doesnīt turn around before that, right now it is sitting on the 50% from the latest daily down move, so i might be taking my profit if i see it going down and enter short, please i am not sugesting to take this trade i am only saying what i think, trade at your own risk, regards
Robby....
Thanks Robby,This is quite promising trading system, and seem to be successfull with high percentage, every trading system has one "but" side and the "but" side of this trading system is how to place fibonacci levels. So, But how do you decide to put the fibo levels, because there are some graphs that I would prefer to put fibo levels in different ways...
  • #32
  • Jan 28, 2009 3:02am Jan 28, 2009 3:02am
Quoting ruthere2
I think I understand your concept but looking at your current trading chart, I can't figur out your entries for two of them. Can you show your chart for the EU with your FOB retracements? I can't get your sell figure no matter how I slice the FIB tool. Thanks.
That is supply and demand, another technique i use, sorry if i am confusing you guys but we all should learn this, that has nothing to do with the method but we should be aware of this areas to support the other techniques we apply
  • #33
  • Jan 28, 2009 3:07am Jan 28, 2009 3:07am
Quoting Laborant
Thanks Robby,This is quite promising trading system, and seem to be successfull with high percentage, every trading system has one "but" side and the "but" side of this trading system is how to place fibonacci levels. So, But how do you decide to put the fibo levels, because there are some graphs that I would prefer to put fibo levels in different ways...
You have to try and find a movement that started and hasnīt retraced yet, that is the way i do it, so when it starts to retrace you set your pendings
  • #34
  • Jan 28, 2009 3:09am Jan 28, 2009 3:09am
thanks for sharing robby
  • #35
  • Jan 28, 2009 3:12am Jan 28, 2009 3:12am
http://www.forexfactory.com/showthread.php?t=90540

Not much differences beside the additional entry on 68 retracement with the 100 pips SL.

I'll have a look on the additional entry. What is the TP in this case ?
  • #36
  • Jan 28, 2009 3:12am Jan 28, 2009 3:12am
Quoting fugly
thanks for sharing robby
No problem my friend, letīs give to receive, i hope you guys do as well as i am with this method, it is not the holy grail, but works nice for me, letīs make pips together, well i need some sleep it is 5:00 a.m for me and havenīt slept all night so i guess iīll see you tomorrow, happy trading and may the pips be with us
  • #37
  • Jan 28, 2009 3:18am Jan 28, 2009 3:18am
Quoting robby2007
That is supply and demand, another technique i use, sorry if i am confusing you guys but we all should learn this, that has nothing to do with the method but we should be aware of this areas to support the other techniques we apply
There is nothing confusing I think. The price goes to retracement levels in most times and goes back to (down or up). So when you see that the retracement begins that set your pending orders in the fibo levels as explaind by Robby and that is it, wait for the price action to move... I think if you find the trend direction correctly then there is nothing to loose. Simply one method to see if the trend begin or not is to use RSI - 50 level. and you can have your own system of finding the trend direction. Nothing difficult really
  • #38
  • Jan 28, 2009 3:21am Jan 28, 2009 3:21am
Quoting robby2007
Supply and demand, something all of us should know or learn

Thanx Roppy for sharing u nice system using Fib..

I think is better to concern on your system which you explain it abouve.. with out trying or envolving other strategy on it.. just to take it pure and not distort the idea of Fib..

Thanx again i will give it try.
Never sell @ lower upward channel unless breacked and vise versa .
  • #39
  • Jan 28, 2009 3:24am Jan 28, 2009 3:24am
Quoting melpheos
http://www.forexfactory.com/showthread.php?t=90540

Not much differences beside the additional entry on 68 retracement with the 100 pips SL.

I'll have a look on the additional entry. What is the TP in this case ?
well i usually take profit when i see the market is reversing or let the trailing do itīs job, the basic idea is to enter on the 38.2 (for not missing the trend continuation), and if the market continues to the 61.8, it should retrace from there, but if it continues, maybe we are in a trend change, so we start doing the fibs in the oppossite way, there will be times that we will find those ranging days and loose a couple of trades in a row, but forward testing i have find that if we do this consistently those loses will be very little compared to the winnings, and i like leavin the TS do itīs job because severasl times i have caught 200 pip movements, ok now iīll go to bed
  • #40
  • Jan 28, 2009 3:41am Jan 28, 2009 3:41am
Thanks Robby for sharing this system.
I have a silly question though.. why 38.2 and 61.8 fibo and not 50%?
Is there a reason behind this?
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