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Attachments: Fib 4Hour MTF Moving Average
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Fib 4Hour MTF Moving Average

  • #141
  • Jan 31, 2009 5:22am Jan 31, 2009 5:22am
is this is a valid trade?
Attached Image (click to enlarge)
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  • #142
  • Jan 31, 2009 7:49am Jan 31, 2009 7:49am
Quoting robby2007
You can check the MTF Moving average and enter only on this direction, or just follow the market direction like i do, but if you trade against the trend, be very careful, don´t forget your stop losses, so if the candles are green i go long, if the candles are red i go short, if the direction of my trade is in the same as the MTF Moving average i might hold the trades a little longer, hope this clarifies, like i said my english is not very good, and i´m sorry if you are having problems understanding this, regards
Robby

i´ll try to picture it
Hey Robby your english is very good. My only question has to do with you saying enter only in the direction of the MTF moving average. Do you mean slope of this ma? or do you mean if 4hr is under this ma, then you only go short?

I am asking because in post #2 and #139, you are entering longs while the candles are under the ma and actually the slope of the ma is flat so I guess you are not using the slope. You say above if the candles are green you go long, but in post #2, you had pending buy at the 38.2 on a red candle.

I thought I understood from you that only when the candles overshoot the 0 or 100 fib would you change the direction of the fibs, or maybe you are just taking every move that hasn't retraced? If so what is the ma used for? sorry if I have misunderstood your system and these questions are stupid.

Thanks.
  • #143
  • Jan 31, 2009 5:13pm Jan 31, 2009 5:13pm
Robby,

What broker are you using?

BarneyDog
  • #144
  • Jan 31, 2009 5:15pm Jan 31, 2009 5:15pm
Hi All,

Anyone using Alpari?

Anyone using TS on Alpari?

Anyone have an EA allowing MM + TS?
If yes, can you post.

Thanks,
BD
  • #145
  • Jan 31, 2009 7:55pm Jan 31, 2009 7:55pm
Hi All,

Just to clarify what Robby is saying about fib movement. On the 4 hr gbp chart we have a fib pulled in the up direction. Price comes down hits the 61.8% retrace and starts going north and it breaks the 00 Level of the fib. Now it becomes a waiting game until the next swing high is formed which may be some where near the yellow arrow. Once the swing high is formed and we start to see a pullback then we would pull the fib up to points A-B and wait for the retrace to hit the 38 and 61 fib for a long entry.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd 4hr example t5.gif Size: 21 KB
  • #146
  • Feb 1, 2009 8:49am Feb 1, 2009 8:49am
Quoting fx1618.com
Good explanation!!! Even I have understood
Could you explain, where we will take profit. If I can not use trailing stop. Just your mind about it...
I really don´t know where taking the profit, that is why i use the Trailing stop, but that is some kind of a personal thing, i have a friend who is only doing EJ and he takes only 30-50 pips on each trade, but i hate when i see a trade that goes 300 pips and i only took 30 , up to you man, also i use the trailing to take my emotions out
  • #147
  • Feb 1, 2009 8:59am Feb 1, 2009 8:59am
Quoting Wallboroff
is this is a valid trade?
Hope the pic clarifies
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  • #148
  • Feb 1, 2009 9:02am Feb 1, 2009 9:02am
Quoting llambert3
Hey Robby your english is very good. My only question has to do with you saying enter only in the direction of the MTF moving average. Do you mean slope of this ma? or do you mean if 4hr is under this ma, then you only go short?

I am asking because in post #2 and #139, you are entering longs while the candles are under the ma and actually the slope of the ma is flat so I guess you are not using the slope. You say above if the candles are green you go long, but in post #2, you had pending buy at the 38.2 on a red candle.

I thought I understood...
Your question is not stupid, but already answered before, here you go:
Try to take trades in the direction of the MTF MA (because it is safer to go with the trend), if price below=downtrend, if price above=uptrend, I TAKE BOTH, LONGS AND SHORTS, but when i trade against the trend i am careful and watch the trades closely, i hope that helps, regards
Robby
  • #149
  • Feb 1, 2009 9:08am Feb 1, 2009 9:08am
Quoting BarneyDog
Robby,

What broker are you using?

BarneyDog
My DEMO is from ItradeFX, but with the fibs don´t worry about your broker, they are almost the same on every broker
  • #150
  • Feb 1, 2009 9:25am Feb 1, 2009 9:25am
Quoting robby2007
Your question is not stupid, but already answered before, here you go:
Try to take trades in the direction of the MTF MA (because it is safer to go with the trend), if price below=downtrend, if price above=uptrend, I TAKE BOTH, LONGS AND SHORTS, but when i trade against the trend i am careful and watch the trades closely, i hope that helps, regards
Robby
Thanks. I thought I had it right, I just missed in my reading you saying you take both. Thanks for answering.
  • #151
  • Feb 1, 2009 9:29am Feb 1, 2009 9:29am
Quoting ozziedave
Hi All,

Just to clarify what Robby is saying about fib movement. On the 4 hr gbp chart we have a fib pulled in the up direction. Price comes down hits the 61.8% retrace and starts going north and it breaks the 00 Level of the fib. Now it becomes a waiting game until the next swing high is formed which may be some where near the yellow arrow. Once the swing high is formed and we start to see a pullback then we would pull the fib up to points A-B and wait for the retrace to hit the 38 and 61 fib for a long entry.
Good answer Ozzie thanks man!
  • #152
  • Feb 1, 2009 9:38am Feb 1, 2009 9:38am
Thanks,

I wanted to sync up the 4 hour candles, so I see what you are seeing.
  • #153
  • Feb 1, 2009 9:40am Feb 1, 2009 9:40am
Quoting robby2007
Hope the pic clarifies
so you mean it would be better to watch for bigger moves?

you said that we draw the fibs until there is a correction of 38.2 or 61.8% right? wouldnt that validate the example i showed in my pic?

there is a move down it retraces but got killed.

i think that is the main problem a lot of traders have, which movement to trust and where to enter properly.
  • #154
  • Feb 1, 2009 9:43am Feb 1, 2009 9:43am
Regarding Trailing Stops:

I don't see Alpari software allowing Trailing Stops.


I found an old FF link , but don't know if the EA has been updated with fixes or if the EA has an expiration date.
http://www.forexfactory.com/showthre...05#post2142805


Does anyone have an EA to allow Trailing Stops?

Thanks
  • #155
  • Feb 1, 2009 9:59am Feb 1, 2009 9:59am
Quoting BarneyDog
Regarding Trailing Stops:

I don't see Alpari software allowing Trailing Stops.


I found an old FF link , but don't know if the EA has been updated with fixes or if the EA has an expiration date.
http://www.forexfactory.com/showthre...05#post2142805


Does anyone have an EA to allow Trailing Stops?

Thanks
hey barney why don tyou use the search in this forum and stop trashing this cool thread with your EA problems.

sorry if this sounds a bit hard but imagine everybody is doing this, new people will give up reading this thread easily.
  • #156
  • Feb 1, 2009 1:34pm Feb 1, 2009 1:34pm
Robby,
First of all, unless you say that english is not your first language, just looking from your posts, there is no way to say that.
You are communicating your thoughts to us here,and you are doing a great job in that

Your reply is precise and the steps are clear .

After reading your reply and the steps you have mentioned, it is beginning to become clearer for me (where to draw fibs).

I'll still follow this thread for examples and look at the pictures to compare mine as well.

After looking at your steps, just one more question popped up to me:
When drawing a fib on the movement where there has been no retrace, sometimes we get the fib lines so close to each other. Like for example, USD/JPY, the fib lines are just 10-11 pips apart.

does this happen often and if so, do you use any discretion on taking trades based on those fibs (other than the MTF you have mentioned)?

appreciate all of your efforts.
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  • #157
  • Feb 1, 2009 5:11pm Feb 1, 2009 5:11pm
Quoting Wallboroff
so you mean it would be better to watch for bigger moves?

you said that we draw the fibs until there is a correction of 38.2 or 61.8% right? wouldnt that validate the example i showed in my pic?

there is a move down it retraces but got killed.

i think that is the main problem a lot of traders have, which movement to trust and where to enter properly.
It is valid, but like i said there was a bigger up move so isn´t it better to go with the bigger moves?, not always we will win, the thing is to keep aour winning ratio better than the loosing one, keep reading the thread i will try to post my trades so you get the hang of it
  • #158
  • Feb 1, 2009 5:14pm Feb 1, 2009 5:14pm
Quoting denverdude
Robby,
First of all, unless you say that english is not your first language, just looking from your posts, there is no way to say that.
You are communicating your thoughts to us here,and you are doing a great job in that

Your reply is precise and the steps are clear .

After reading your reply and the steps you have mentioned, it is beginning to become clearer for me (where to draw fibs).

I'll still follow this thread for examples and look at the pictures to compare mine as well.

After looking at your steps, just one more...
Hi dude, yes we will have small movements, i prefer to enter on movements where our fib is at least 150+ pips from the 0.0 to the 100, i have entered on small ones and came out good and also bad but i think we would like lots of pips flowing in so i prefer the bigger movementes. Also if i have a small movement i would trace a larger fib also, and see if they are overlapping fibs between the big and the small, and enter according to those
  • #159
  • Feb 1, 2009 6:42pm Feb 1, 2009 6:42pm
great system robby
  • #160
  • Feb 1, 2009 9:07pm Feb 1, 2009 9:07pm
good setup on AUDNZD??

http://img440.imageshack.us/img440/2994/audnzdyp1.gif
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