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ICCE. Bemac's Fib. Reverse Engineered

  • #361
  • Apr 24, 2009 9:04am Apr 24, 2009 9:04am
Quoting SpecialEd
I agree, Tradewell. I've always been impressed with Cobra's ability to conceive an idea and get it to production, but WOW! When Bemac spoke people listened. I was very impressed, and particularly proud to see how Cobra and MissPips from THV Team jumped in to help. The speed with which you all brought this idea to fruition was amazing.

Hats off to all of you.
I think a major part of how this evolved is due to the fact that, as you say, some Very Well Respected Members joined in very quickly.

Just in case you missed it.
3 Short weeks ago I didn't even have an MT Demo.
I needed help to get it installed & config'd properly.
Thanks to Cobra & his Team for walking me through that.
  • #362
  • Apr 24, 2009 9:07am Apr 24, 2009 9:07am
Quoting Bemac
Well Cobra, There's your Answer.

"To Infinity & Beyond."

ps. Note to Self:
Gotta remember to Stop Posting with a Scotch in my hand. It's tough enough for the Members to understand what you are trying to say nevermind when your mind is racing from pillar to post. {so to speak}
Do not let that Scoth go away from You




B,
Tom
  • #363
  • Apr 24, 2009 9:19am Apr 24, 2009 9:19am
Cobra's 100% Target.

Attached Image (click to enlarge)
Click to Enlarge Name: fib rev engineered 34 eurusd x 1min zoom.gif Size: 49 KB


Hope you grabbed some of DemPips.
  • #364
  • Apr 24, 2009 12:34pm Apr 24, 2009 12:34pm
This is fun: although I still use Strict MM.

Attached Image (click to enlarge)
Click to Enlarge Name: fib rev engineered 35 eurusd x 1min zoom.gif Size: 39 KB

Last Trade on ICCE 1 Min. took a conservative 17P.

Why did I Pick My Entry?
PA of course.
How did I pick my TP?
ICCE
  • #365
  • Apr 24, 2009 12:51pm Apr 24, 2009 12:51pm
Quoting Bemac
Cobra's 100% Target.

Hope you grabbed some of DemPips.
Yep, the 100% of my range box got finally hit, it was in 1.3236 (300 pips from break out) and the timing was very good, only failed with some hours but in the lap of a week isn’t bad at all.

Keep in mind all that I didn’t readjust the box all the week, you can check that from the first time I posted it.

I still don’t trade it because everything is new to me and to trade a method I need to be confident and secure with it (I’m only trading real money and hate demo).

I will spend some time during the weekend in the trading simulator to get more firm in ICCE.

I want to recommend this thread to everybody who is a trader (the ones who are know what I want to say).

It’s not easy to catch it and you need to have a healthy understanding how to draw the range box, which is still my biggest problem, but I think I found out how to build a bridge to better drawing and will post it when I’m sure that it not nonsense.

Bemac, it’s weekend now, let’s have another scotch (one of the 40 agers), you deserve it.

A relaxing weekend all
Attached Image (click to enlarge)
Click to Enlarge Name: icce16.gif Size: 45 KB
  • #366
  • Apr 24, 2009 12:54pm Apr 24, 2009 12:54pm
Quoting tfflyer
hM.. I NEED TO FIND THOSE POSTS WHERE IS talking about SL, TP.. entries...


Best,
Tom
Hi Tom -

That is a bit of a large topic - simple to understand, but fairly large. What I do is work things this using 'Price Action'. You can learn about it at Clockwork or James16's threads.

Both of these threads teach you to locate areas of price support or resistance. When combined with Price Action bars like a "Pin Bar" or "Bearish Outside Bar (BEOB)" for an example, will tell you which direction to take a trade.

Support and Resistance provide not only areas for possible entry, but targets or Taking Profit. So, have a good long read of those threads - they will be a very big help.

Now - looking at the charts posted here - do you see what happens to price as it approaches the fib lines? The fibs are a good way to look forward in time - and locate areas of S/R that may not show up in history. When Price Action occurs at these areas - you are being told whee the market is headed.

For me, I find this method an intriguing way of *keeping me in a trade much longer* than I might ordinarily. I see these fibs get hit repeatedly - in spite of the 'noise' the market generates in the interim on price. What might have been a 100 pip gain for about a 1R win, can now become 8, 9 or more R, because I have more confidence in an entry with a tighter stop.

Disclaimer - I still have more work to do before I go live, but a method is coming together. PASR, (Price Action, Support & Resistance) is in fact is the foundation.

hope this is a little bit helpful There is a lot of homework in front of you, but time is on your side - take advantage of it!

EDIT: Stay far away from the short time frames. The lowest I go is one hour - and it has taken me two years of consistent success on the daily and recently the 4hr to be effective there. Short time frames kill all but the very good.
I'm pretty much done with all this ...
  • #367
  • Apr 24, 2009 12:59pm Apr 24, 2009 12:59pm
Cobra...
"That's Captain Jack Sparrow. If you don't mind."

with reference only to your "Bemac's Black Pearl" Indi on the lower window.

Have a great weekend all.
Time to Close the Live Platform.

Edit: Add:
And Yes. StoragePro makes a Very Valid Point.
Start with Longer Timeframes until you Know, not only what you are doing, but the concequences as well!
  • #368
  • Apr 24, 2009 1:11pm Apr 24, 2009 1:11pm
Quoting Bemac
Cobra...
"That's Captain Jack Sparrow. If you don't mind."

with reference only to your "Bemac's Black Pearl" Indi on the lower window.
yep, it's Captain Jack Sparrow's "The curse of the Black Pearl" renamed to:

"Bemac's Course of the Black Pearl".

As you mentioned twice to Scott that there is a pearl in
  • #369
  • Apr 25, 2009 2:00am Apr 25, 2009 2:00am
Quoting smjones
Here is my latest contribution. How is that for confluences.
is this a japanese butterfly? and how do i draw it please.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #370
  • Apr 25, 2009 4:17am Apr 25, 2009 4:17am
THANKS A LOT for this thread!!! this is has been very beneficial to see the fib time setups that you are using. I finally found some charts that look a bit like mine! Can you guys recommend any fib resources/forums/links to me? so far i have found fibonacciqueen, robert miner, joe dinapoli, bobokus and black knight. Again a BIG thanks.

http://betalabs.nokia.com/blog/wp-co...typewriter.jpg
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #371
  • Apr 25, 2009 1:36pm Apr 25, 2009 1:36pm
After some more worky worky, I have a proposal to bang off the assembly.

As for drawing a channel, It is fairly clear that there is no science to it, but what I found to be helpful when a top or bottom is sloppy, to see if I can line up that edge on a PPZ. (Support/Resistance). Price flips can offer a fairly clear view of where the box gets drawn in these circumstances. At least for me.

I am also taking note that some pairs seem to behave better on different time frames. Some seem to like the 4hr, and others like the 1hr. I do not know if anyone notes this too, perhaps I am dreaming.
I'm pretty much done with all this ...
  • #372
  • Apr 27, 2009 6:33am Apr 27, 2009 6:33am
  • #373
  • Apr 27, 2009 7:43am Apr 27, 2009 7:43am
Hello everybody.
First - thanks so much for teaching interesting things.
How find good box is a dark area for me. I have observing one , which forming on EY right now. Is that a good one??
Thanks
Peter
Attached Image (click to enlarge)
Click to Enlarge Name: ey.gif Size: 29 KB
  • #374
  • Edited 8:44am Apr 27, 2009 8:42am | Edited 8:44am
Quoting pitpiter
Hello everybody.
First - thanks so much for teaching interesting things.
How find good box is a dark area for me. I have observing one , which forming on EY right now. Is that a good one??
Thanks
Peter
Complete reedit. Yes, that is a horizontal channel. (I was looking at a 15 min)
I'm pretty much done with all this ...
  • #375
  • Apr 27, 2009 9:02am Apr 27, 2009 9:02am
Looking back to last summer on the EU. Daily timeframe and what happened after that lovely four and half month range..

Where the $%@!#@&* was Bemac then?

From the 7/15 Pinbar followed by that beautiful 7/22 Outside bar, the entire move was worth a cool ~3500 pips. Grumble...

Them der fib lines are great looking sign posts - no?

Second chart - working off of an earlier range of April - Oct 2006. Price came back to the channel. What is really interesting - this chart picks off stuff the other did not see.

Things that make me go: hhmmm....

So as a tool to keep you in a trade for loonnnggg periods, this thing is pretty nice. If the swap is positive, it is veerrrryy nice. Keep an eye on PASR and you're off to the races.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 25 KB
Click to Enlarge Name: eu2.gif Size: 32 KB
I'm pretty much done with all this ...
  • #376
  • Apr 27, 2009 9:09am Apr 27, 2009 9:09am
Like the second chart a lot. That was the first thing I did when got introduced to this thread

Quoting StoragePro
Looking back to last summer on the EU. Daily timeframe and what happened after that lovely four and half month range..

Where the $%@!#@&* was Bemac then?

From the 7/15 Pinbar followed by that beautiful 7/22 Outside bar, the entire move was worth a cool ~3500 pips. Grumble...

Them der fib lines are great looking sign posts - no?

Second chart - working off of an earlier range of April - Oct 2006. Price came back to the channel. What is really interesting - this chart picks off stuff the other did not see.

Things that make me...
~*~You are only one trade away from humility~*~
  • #377
  • Apr 27, 2009 9:24am Apr 27, 2009 9:24am
Quoting pitpiter
Hello everybody.
First - thanks so much for teaching interesting things.
How find good box is a dark area for me. I have observing one , which forming on EY right now. Is that a good one??
Thanks
Peter
Absolutely But please be cautious with Yen Pairs as One Candle can wipe out a nice Trade. {due to volatilty.}

~126.30 does look to be on the cards though
  • #378
  • Apr 27, 2009 9:35am Apr 27, 2009 9:35am
Hellou Bemac,
which pairs would You reccomend to trade ? Also which timeframes ?


Thank You.


B,
T
  • #379
  • Apr 27, 2009 9:48am Apr 27, 2009 9:48am
Quoting tfflyer
Hellou Bemac,
which pairs would You reccomend to trade ? Also which timeframes ?
T
The Boring Ones.
EUR/USD; GBP/USD; USD/CAD;
Why? They are active during my wakened hours.

The Crosses are a ploy for the Borkers. They require knowing 3 Currencies {instead of 2} to understand where they Might be headed.

Timeframes?
Depends on what time of day/week/month it is.
Monday? Yeah, I'll take a Daily Trade as long as it is not Monday the 27th because that means the Monthlies are looking for settlement & will possibly swing the Market on a dime.

Stay nimble.
  • #380
  • Apr 27, 2009 10:06am Apr 27, 2009 10:06am
This is just a quick mock up that looks interesting to me.
Attached Image (click to enlarge)
Click to Enlarge Name: fib rev engineered 36 eurusd x 15min zoom.gif Size: 50 KB

I don't spend all the time {it currenty} takes to get all the Info I want on the chart.

Just a quicky and then decide if it's worthwhile spending valuable time refining it.

2 Vertical Lines. {Thin Red}
2 Horizontal Lines {Yellow}
2 Fibs. {Exp & Time} (corner to corner of Box)
a couple of Parallel TL {Thick Red}

I plotted the blue rectangle for visability of this post. I don't normally do that.
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