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Fibonacci Trading with Bobokus

  • #7,801
  • Mar 16, 2009 4:53pm Mar 16, 2009 4:53pm
hello there legace, its good to see you on bobokus forum again.i dont know why, i am always happy anytime i see you post.so where have you been all this while not trading?? if i may ask, your gbpusd short,what criteria made you go short because price was already at the target 2 of the intraday fibonacci? will be very glad if you can answer my questions. happy pips taking
  • #7,802
  • Mar 17, 2009 5:57am Mar 17, 2009 5:57am
Quoting bjpumping
hello there legace, its good to see you on bobokus forum again.i dont know why, i am always happy anytime i see you post.so where have you been all this while not trading?? if i may ask, your gbpusd short,what criteria made you go short because price was already at the target 2 of the intraday fibonacci? will be very glad if you can answer my questions. happy pips taking
Um I just saw that price got rejected from a level so then just made sell stops of previous lows. Um I had to stop trading because I am engineer and I had exams during university time, and my workload was getting insane, I barely slept became very sicks and a whole lot of horrible things. Now I am getting back into the game, and just found that the entire way I was trading before was completely wrong and I never bothered to fix it or knew what I did wrong. After watching Bobokus' new videos I figured out what to do, I have some market experience so I have a decent intuition.

As for this morning I have two buys on EU and GU, both are up about 4 and 10 pips respectively, I am really hoping for some momentum as US opens, incase US news is bad/good I have my stop loss, set and stop and reverse points set as well for intense market momentum. Hopefully all goes well, if this week I can make a profit then I can confirm to myself that I am finally trading the system properly, if that is the case I will start posting chart setups, but I mean those trades could have been flukes so I will just have to wait and see if what i am doing is correct. Yesterday was a good day and I can't wait to start trading live so I can hope to trade again and properly this time.

Good Luck.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #7,803
  • Mar 17, 2009 11:16am Mar 17, 2009 11:16am
Hello. I am new here, please for comments... I think its opportunity to go short,,,?
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  • #7,804
  • Mar 17, 2009 11:30am Mar 17, 2009 11:30am
My longs on both GU and EU ended up as being losses, about 45 pip total loss, but my buy and reverse orders came into place and then I was able to scrape those 45 pips back today, so overall no loss today.

Today was really ranging and I wouldnt suggest anyone make any trades because of extremely low market movement.

TheLegace
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #7,805
  • Mar 17, 2009 11:57am Mar 17, 2009 11:57am
thnax for your reply and good to see your trade was neutral today.

i made an early 7 pips in the early hours of today...the asian session but right now i am looking at cable if i can make a scalp of 20 pips but if i do not see any opportunity, i will stay out. i am seriously contemplating whether cable is going to be bullish or bearish but i will wait for the close of today's candle on the daily before i make a decision.

i wish you more green pips.
  • #7,806
  • Mar 18, 2009 3:50am Mar 18, 2009 3:50am
I made a short on GU about 2 hours ago that trade is plus 90 pips, and my EU short is up 16 pips, not a bad morning, hopefully I can still pull profits like this on most days, I will post chart setups next week, once I put on a bit of confidence in my trading.

My targets are set for GU at 1.3907 so it needs to move about 30 more pips before I close, and EU will move about 15 more pips, I don't expect to much movement for EU today, but definitely tommorow.

Good Luck.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #7,807
  • Mar 18, 2009 4:07am Mar 18, 2009 4:07am
I have closed both my trades now...netting in about 123 pips for today.

I am probably going to be done for the day unless some major news adds a lot of price action or there is a really good low risk oppurtunity, but I don't think that will happen today, I am happy with what I made today and I will probably just leave it at that.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #7,808
  • Mar 18, 2009 4:19am Mar 18, 2009 4:19am
Quoting TheLegace
I have closed both my trades now...netting in about 123 pips for today.

I am probably going to be done for the day unless some major news adds a lot of price action or there is a really good low risk oppurtunity, but I don't think that will happen today, I am happy with what I made today and I will probably just leave it at that.

TheLegace.
Good to see you active here and doing well.
  • #7,809
  • Mar 18, 2009 11:12am Mar 18, 2009 11:12am
to all masters here,

i'm newbie here. Just wanna ask if anyone had successfully scalped using fibs in 5min TF or lower? I hope it's not stupid question.
  • #7,810
  • Mar 18, 2009 11:14am Mar 18, 2009 11:14am
Have put two sell stops for GU and EU at 1.3951 and 1.3081 respectively, the candlestick wicks are showing extremely weakening bull movement. I just might take a small trade as New York closes and Asian sessions begins. The overall trend direction for Gu is down EU may double top. If market doesn't move to much then I will just close trades.


Good Luck.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #7,811
  • Mar 18, 2009 1:17pm Mar 18, 2009 1:17pm
hi legace, good to see you made green pips 2day. i have not taken any trade so far but i am thinking i may go short on cable after the FOMC statement and federal funds rate news...provided the signals are good for entry but if not i will stay out...like bo used to say...THE MARKET IS ALWAYS THERE.


happy green pips to you .
  • #7,812
  • Mar 18, 2009 4:24pm Mar 18, 2009 4:24pm
to Sitaring. Check this...

http://www.fx-knight.com/academy.html
  • #7,813
  • Mar 18, 2009 4:26pm Mar 18, 2009 4:26pm
Hello guys....am new in this thread.....

i just discovered the potentials in using fib retracement and extension to make a feast in the market.....i use momentum indicators with it....pivot and resistance.....

hope to join u guys for more ride......btw can we made calls for other pairs aswell as i trade 5 pairs GU and GJ inclusive?
  • #7,814
  • Mar 18, 2009 5:16pm Mar 18, 2009 5:16pm
Here is one of major pairs. I just try to predict down movement...
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  • #7,815
  • Mar 18, 2009 5:28pm Mar 18, 2009 5:28pm
Quoting Fana
Here is one of major pairs. I just try to predict down movement...

i have a similar feel on this trade but as cautious as i'm.....i'll wait for a close of 1hr candle stick below that velvet region b4 diving in for a sell.....
  • #7,816
  • Mar 19, 2009 4:00am Mar 19, 2009 4:00am
Quoting Fana
to Sitaring. Check this...

http://www.fx-knight.com/academy.html
Thks Fana,

I am downloading all the pdf files now! .
  • #7,817
  • Mar 19, 2009 4:06am Mar 19, 2009 4:06am
Tom,
How was the room? I found no one when I entered the room..
  • #7,818
  • Mar 19, 2009 4:28am Mar 19, 2009 4:28am
Quoting sitaringfx
to all masters here,

i'm newbie here. Just wanna ask if anyone had successfully scalped using fibs in 5min TF or lower? I hope it's not stupid question.
Most of the people who traded Bobokus fibs don't go below 1hr TF.
  • #7,819
  • Mar 19, 2009 4:33am Mar 19, 2009 4:33am
Quoting Pro
Hello guys....am new in this thread.....

i just discovered the potentials in using fib retracement and extension to make a feast in the market.....i use momentum indicators with it....pivot and resistance.....

hope to join u guys for more ride......btw can we made calls for other pairs aswell as i trade 5 pairs GU and GJ inclusive?
The majors respond very well to fibs but GJ for instance not that well acording to some of the old statements made by Bobokus.
Is recomand it to keep an eye on GU and UJ if you want to trade GJ.
  • #7,820
  • Mar 19, 2009 4:51am Mar 19, 2009 4:51am
Quoting speedarad
Most of the people who traded Bobokus fibs don't go below 1hr TF.
Thks speed,

This is the my chart, don't know if I draw it correctly. Yellow is the daily fibs and white is hourly fibs.

Where is the best entry (long or short)?
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