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Fib 4Hour MTF Moving Average

  • #61
  • Jan 28, 2009 10:57am Jan 28, 2009 10:57am
Quoting BenQ
Where are you short from -- can you post that chart?
Here you go
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  • #62
  • Jan 28, 2009 11:06am Jan 28, 2009 11:06am
hey robby,

why dont you wait for price action to confirm the trade like a pin bar?
  • #63
  • Jan 28, 2009 11:08am Jan 28, 2009 11:08am
Quoting Wallboroff
hey robby,

why dont you wait for price action to confirm the trade like a pin bar?
Sorry, what is a pinbar?
  • #64
  • Jan 28, 2009 11:16am Jan 28, 2009 11:16am
Still following along with you guys here.

What makes you to determine to start looking long if the 61.8 level is being looked at as the hold to continue the down trend? If you buy at the short term 38.2, I guess you assume that the down trend is complete? Am I looking at it right?
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"Your big opportunity may be right where you are now." Napoleon Hill
  • #65
  • Jan 28, 2009 11:21am Jan 28, 2009 11:21am
Quoting robby2007
Here you go
So on this long term one, your 382 trade hit sl and now you're short from 618, and will reverse at 382 of current fib?
  • #66
  • Jan 28, 2009 11:35am Jan 28, 2009 11:35am
Quoting robby2007
Ok i will try to answer this, i hope you understand me, this is more like a psychological game, if you loose big time in one trade, you lose faith, if you lose this loose confidence in your method, you put your pending on the 38.2, price keeps going, breaks the 50, the 61.8, and finally takes out your 100 pip SL, how much in one loss is that it could be 500 pips, it looks better to just loose less pips and if the 61.8 works, you will be happy recovering your pips, plus i had a very ugly experience with drawdown, so i don´t want to see a humongus...

ok last post on this: don't want to beat a dead horse but NO MATTER how you look at it, IT IS THE SAME DRAWDOWN!!!!!

If i sell 1 lot at 1.3000 and it hits 62 fib at 1.3500, then sell 1 lotagain and it hits 1.3600 then guess what. I just lost 600 pips. or if i sell 1 lot and it goes to 1.3600 then guess what i still lost 600 pips. the drawdown is the same!

but all of that aside. im going to try it out on demo for a bit to see how it goes

good luck to everyone and sorry i just have to prove my point. lol

will be following
  • #67
  • Jan 28, 2009 12:03pm Jan 28, 2009 12:03pm
Quoting TheHefner
Still following along with you guys here.

What makes you to determine to start looking long if the 61.8 level is being looked at as the hold to continue the down trend? If you buy at the short term 38.2, I guess you assume that the down trend is complete? Am I looking at it right?
If you pay attention to the chart, there is candle that bounced from the 38.2 for 80 pips, i did entered that trade and closed it +20 pips, i am not assuming that the downtrend is complete when i buy, i just do it because it has been working good for me, you never know when a trend is exhausted, maybe it is, or this climb is just maybe a retrace of the big down trend, but like i said i trade this very mechanical, i am short now i will leave my TS do it´s job and i will buy at the smaller 32.8 up move, i am sure it will bounce at least a little
  • #68
  • Jan 28, 2009 12:04pm Jan 28, 2009 12:04pm
Quoting BenQ
So on this long term one, your 382 trade hit sl and now you're short from 618, and will reverse at 382 of current fib?
it didn´t hit SL i closed +20
  • #69
  • Jan 28, 2009 12:08pm Jan 28, 2009 12:08pm
Quoting jtmoore007
ok last post on this: don't want to beat a dead horse but NO MATTER how you look at it, IT IS THE SAME DRAWDOWN!!!!!

If i sell 1 lot at 1.3000 and it hits 62 fib at 1.3500, then sell 1 lotagain and it hits 1.3600 then guess what. I just lost 600 pips. or if i sell 1 lot and it goes to 1.3600 then guess what i still lost 600 pips. the drawdown is the same!

but all of that aside. im going to try it out on demo for a bit to see how it goes

good luck to everyone and sorry i just have to prove my point. lol

will be following
You are right JT, i never said it is less drawdown, it is the same, but this is the way i trade it, you guys are welcome to trade this method anyway you want it, i am sure some of you will make it even better, that is ok, please let me know of any improvements i will apreciate it, don´t feel sorry JT you proved your point from your first post, as i said this is just a psychological stuff
  • #70
  • Jan 28, 2009 2:22pm Jan 28, 2009 2:22pm
hey robby , which pairs does this work best on ?, the volitile ones or the sedate ones
  • #71
  • Jan 28, 2009 3:17pm Jan 28, 2009 3:17pm
robby2007, THANK YOU for this topic!!!!


please give more your currently open trades and the pendings order. For better understanding
  • #72
  • Jan 28, 2009 3:36pm Jan 28, 2009 3:36pm
This way of trading is more like the ICWR method. It is a very good and profitable way of trading

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #73
  • Jan 28, 2009 3:54pm Jan 28, 2009 3:54pm
Hi robby,
Do you set buy/sell stop orders or buy/sell limit orders on you MT4 ?
Thanks,
Dani M.
  • #74
  • Jan 28, 2009 4:38pm Jan 28, 2009 4:38pm
Say you have a downtrend and a fib pulled form the last swing high to the current swing low and price starts to retrace but doesn't ever get to the 38.2% fib. Do you just pull the swing low "00" down to the next swing low when it forms or do you move the entire fib to the new swing high and low? Also, do you ever go short at the break of the swing low point if it doesn't retrace to the 38.2% fib?
  • #75
  • Jan 28, 2009 7:30pm Jan 28, 2009 7:30pm
i trade it on the 15min. chart and check my trades every 2-3hrs., i use 25 TRAILING STOP for gpb/usd,gbp/jpy & 15 TRAILING STOP for aud/usd,eur/usd and did not have a losing trade yet WHAT A GUY THANKS ROB!!!
  • #76
  • Jan 28, 2009 7:59pm Jan 28, 2009 7:59pm
Quoting chasingpips
hey robby , which pairs does this work best on ?, the volitile ones or the sedate ones
I have been trading almost all of them, but i think the volatile ones will give more pips
  • #77
  • Jan 28, 2009 8:02pm Jan 28, 2009 8:02pm
Quoting dan_mir
Hi robby,
Do you set buy/sell stop orders or buy/sell limit orders on you MT4 ?
Thanks,
Dani M.
Sell Limit, or buy Limit
  • #78
  • Jan 28, 2009 8:03pm Jan 28, 2009 8:03pm
how many trades have you taken kareem?
  • #79
  • Jan 28, 2009 8:06pm Jan 28, 2009 8:06pm
Quoting fugly
how many trades have you taken kareem?
A LOT I HAVE TO GO BACK AND COUNT,I KNOW THIS DON'T ANWER THE Q
  • #80
  • Jan 28, 2009 8:06pm Jan 28, 2009 8:06pm
Quoting ozziedave
Say you have a downtrend and a fib pulled form the last swing high to the current swing low and price starts to retrace but doesn't ever get to the 38.2% fib. Do you just pull the swing low "00" down to the next swing low when it forms or do you move the entire fib to the new swing high and low? Also, do you ever go short at the break of the swing low point if it doesn't retrace to the 38.2% fib?
1.- Say you have a downtrend and a fib pulled form the last swing high to the current swing low and price starts to retrace but doesn't ever get to the 38.2% fib. I pull the 0.0 until the retrace touches a 38.2
2.- Also, do you ever go short at the break of the swing low point if it doesn't retrace to the 38.2% fib? i do sometimes depending on the current volatility of the market, but that is not part of the method
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