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  • #81
  • Feb 17, 2009 7:51am Feb 17, 2009 7:51am
Buying euro
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #82
  • Feb 17, 2009 7:57am Feb 17, 2009 7:57am
It's easy to say "sell high and buy low" or "buy low and sell high"...

The problem is determining WHEN IT IS HIGH AND WHEN IT IS LOW...

How do you know that??
Why do we fall? "So we can learn to pick ourselves up."
  • #83
  • Feb 17, 2009 8:04am Feb 17, 2009 8:04am
Quoting zamanib
Buying euro
I'm confused.. are you not drawing the fibo retracement incorrectly??

shouldn't the 100.0 be on top and 0 on bottom??
Why do we fall? "So we can learn to pick ourselves up."
  • #84
  • Feb 17, 2009 8:45am Feb 17, 2009 8:45am
Quoting ForexDude
I'm confused.. are you not drawing the fibo retracement incorrectly??

shouldn't the 100.0 be on top and 0 on bottom??
As to the 138 extension, it would be irrelevant from which point it is drawn.
  • #85
  • Feb 17, 2009 11:34am Feb 17, 2009 11:34am
Quoting doblece
As to the 138 extension, it would be irrelevant from which point it is drawn.
Someone teach these guys.
I said when the range is low for the day and price is braking or approcahing the weekly high and low wait for the 4hr bar to closed . do the fib if yuo like or wait out the daily rang2 euro 250--------------400
plus used your head
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #86
  • Feb 17, 2009 11:41am Feb 17, 2009 11:41am
Quoting doblece
As to the 138 extension, it would be irrelevant from which point it is drawn.
Hello there, are you sure? I tried it and it is not the same... the 138 appears after the 100... In one case it shows up on the top.. in the other on the bottom.

I read in the baby pips school and it says that when we make a downtrend fibo retracement, the 1,0 point should be on top and 0 in the bottom:

http://www.babypips.com/school/fibon...tracement.html

http://www.babypips.com/images/chart...d-after-lg.gif




Quoting zamanib
Someone teach these guys.

plus used your head


zamanib, EASY... I am trying to learn, that's why I'm in the "Rookie Forum".


.
Why do we fall? "So we can learn to pick ourselves up."
  • #87
  • Feb 17, 2009 11:41am Feb 17, 2009 11:41am
Quoting zamanib
Someone teach these guys.
I said when the range is low for the day and price is braking or approcahing the weekly high and low wait for the 4hr bar to closed . do the fib if yuo like or wait out the daily rang2 euro 250--------------400
plus used your head
Many professinal traders go back to the old school
they used the 1. 50sma 2. fib 61.8 (look for horizontal s/r) and take the trade. 138fib very powerful . last year statistic was amaging (do you home work) I am man of data . I love the 50 fib level on the 4hr chart pull up and 4 hr chart take the week high to low see what happen around the 50% level
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #88
  • Feb 17, 2009 11:47am Feb 17, 2009 11:47am
[quote=ForexDude;2545571]Hello there, are you sure?

I read in the baby pips school and it says that when we make a downtrend fibo retracement, the 1,0 point should be on top and 0 in the bottom:

http://www.babypips.com/school/fibon...tracement.html

http://www.babypips.com/images/chart...d-after-lg.gif








zamanib, EASY dude... I am trying to learn, that's why I'm in the "Rookie Forum".




WHAT THEY SAY ABOUT EXTENTIONS HOW TO DRAW IT
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #89
  • Feb 17, 2009 2:13pm Feb 17, 2009 2:13pm
Quoting ForexDude
Hello there, are you sure? I tried it and it is not the same... the 138 appears after the 100... In one case it shows up on the top.. in the other on the bottom.

I read in the baby pips school and it says that when we make a downtrend fibo retracement, the 1,0 point should be on top and 0 in the bottom.
Indeed.

But if you configure your settings to show 38% extension either from the low or from the high (1.38 and -0.38) and write down "138" on both, you will have the 138% extension from either point of view independently of the start point chosen.

That is what is showing on zamanib's chart, and that's why I said that in this particular case, it was irrelevant.

On the other hand, for retracements:

from high to low with 100 on top: if it retraces to 38%, it will have retraced 38% of the total move.

from low to high with 0 on top: if it retraces to 62%, it will have retraced TO a 62% value of the total move, which is the same as 100-62= 38% OF the total move.

Some people use it always the same independently if they are measuring a downmove or an upmove, placing 100 on top (swing high) and 0 on bottom (swing low). Others do the same but using 0 as "start of the move" and 100% as "end of the move".

The important thing is that you use it the way it is more comfortable to you, I guess. I personally draw it as you have indicated, but I have 138 and 162 extensions showing on both sides.
  • #90
  • Feb 19, 2009 6:07am Feb 19, 2009 6:07am
Quoting zamanib
Buying euro
this is the result from the buy ]
Now I sell let see
I hope no one is dump to accuse me of posting after the fact. This is live
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #91
  • Feb 19, 2009 7:25am Feb 19, 2009 7:25am
cooooooooooooooooooooooooool
I prove my point and theory.
this will be my last chart.
if you need help contact me on my email [email protected]
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #92
  • Feb 19, 2009 12:35pm Feb 19, 2009 12:35pm
Quoting doblece
Indeed.

But if you configure your settings to show 38% extension either from the low or from the high (1.38 and -0.38) and write down "138" on both, you will have the 138% extension from either point of view independently of the start point chosen.

That is what is showing on zamanib's chart, and that's why I said that in this particular case, it was irrelevant.

On the other hand, for retracements:

from high to low with 100 on top: if it retraces to 38%, it will have retraced 38% of the total move.

from low to high with...

Thank you so much for your explanation doblece, now it makes sense.
Why do we fall? "So we can learn to pick ourselves up."
  • #93
  • Feb 22, 2009 7:03pm Feb 22, 2009 7:03pm
I will sell gbp 138--161 area I will sell Euro 138--161 area
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #94
  • Feb 23, 2009 8:54pm Feb 23, 2009 8:54pm
result
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Click to Enlarge Name: gbp138.gif Size: 18 KB
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #95
  • Mar 9, 2009 12:57pm Mar 9, 2009 12:57pm
sell the previous week high buy the previous week low >>>. if the rprevious week range is low I go for the fib extention level 123 138 161
on cad today sell the 123 fib ext @ 13035 exit 12973
GU buy at 138fib 1 lot 2 lots 161fib 13823 1lot 2 lots at 13742 2 lots exit all lots at 13823
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #96
  • Mar 12, 2009 6:47am Mar 12, 2009 6:47am
buy sell fib extension 123 138 161 200
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  • #97
  • Mar 15, 2009 9:07am Mar 15, 2009 9:07am
contact me for if you need details
trade like a pro
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #98
  • Mar 15, 2009 9:13am Mar 15, 2009 9:13am
trade like a pro
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #99
  • Mar 15, 2009 10:20am Mar 15, 2009 10:20am
It sounds very similar to picking tops and bottoms. I follow with buy high and sell low.
"The trend is your friend, until the end."
  • #100
  • Mar 15, 2009 10:34am Mar 15, 2009 10:34am
Quoting ForexRookie
It sounds very similar to picking tops and bottoms. I follow with buy high and sell low.
Sir, that means you are doing exactly opposite of him?? Buy at High and sell at low of previous day?week?
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