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Relative fibonacci index

  • #1
  • First Post: May 2, 2009 11:07pm May 2, 2009 11:07pm
This is one of the strategies i've been working on recently. I've developed it more and more. At this point i just compiled it in a microsoft word file.
I tried it for a few weeks and seems to be profitable.
Please try at your own risk.
Your results and improvement for this strategy will be appreciated.

Attached File(s)
File Type: doc RELATIVE FIBONACCI STRATEGY.doc   309 KB | 953 downloads




Thanks,

Constin
  • #2
  • May 3, 2009 7:52am May 3, 2009 7:52am
Thanks for the system.

What do the abbreviations such as "D" and "HF" mean, on your chart.

Do you check the pairs at any particular time or any time?

How many of the pairs must agree, before you trade the basket?

Thanks again.
  • #3
  • May 3, 2009 9:26am May 3, 2009 9:26am
Thanks for the sharing
-the info in Doc. still not enugh to consider where is the Entry point.
-and when should draw fib line ( any high and low in 5min charts means lot fibs we have to draw )..

could you make a clear rule for the system in order to give it test next monday ?
Never sell @ lower upward channel unless breacked and vise versa .
  • #4
  • May 3, 2009 10:42am May 3, 2009 10:42am
Quoting billbss
Thanks for the system.

What do the abbreviations such as "D" and "HF" mean, on your chart.

Do you check the pairs at any particular time or any time?

How many of the pairs must agree, before you trade the basket?

Thanks again.
I don't see "D" and "HF" on the chart . Can you please post a picture.
I try to check pairs when the fundamentals won't influence the technicals.
Let's say there won't be news releases for a few hours ahead.
I had good results with just 4 pairs agree and they hit target 3. I think the more pairs agree the better.
  • #5
  • May 3, 2009 10:50am May 3, 2009 10:50am
Quoting constin
I don't see "D" and "HF" on the chart . Can you please post a picture.
I try to check pairs when the fundamentals won't influence the technicals.
Let's say there won't be news releases for a few hours ahead.
I had good results with just 4 pairs agree and they hit target 3. I think the more pairs agree the better.
The D...HF...Y ...etc must be some type of editing I see with MS WORD.

If you didn't put them there, I won't worry about it.

So if 4 pairs agree you trade them all?
I'll give it a whirl tomorrow.
Thanks again.
  • #6
  • May 3, 2009 10:54am May 3, 2009 10:54am
Quoting WedWed
Thanks for the sharing
-the info in Doc. still not enugh to consider where is the Entry point.
-and when should draw fib line ( any high and low in 5min charts means lot fibs we have to draw )..

could you make a clear rule for the system in order to give it test next monday ?
The entry point is at the pivot or as close to the pivot as possible. If hits sl it's 50% loss and if hits target 3 is 161.8% profit. Risk/Reward around 1/3.
You draw the fibs closer to where the price is. If you play with it you will figure it out. Means lot of fibs on 5 min charts but if it works well it's worth doing it.
I think lots of traders place orders at 50 retracement and having more pairs agree will increase the chances of hitting some targets.
  • #7
  • May 3, 2009 10:55am May 3, 2009 10:55am
Here's a picture of it.
As I said, I'll ignore it since I know it isn't part of the method.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.GIF Size: 99 KB
  • #8
  • May 3, 2009 10:57am May 3, 2009 10:57am
Quoting constin
The entry point is at the pivot or as close to the pivot as possible. If hits sl it's 50% loss and if hits target 3 is 161.8% profit. Risk/Reward around 1/3.
You draw the fibs closer to where the price is. If you play with it you will figure it out. Means lot of fibs on 5 min charts but if it works well it's worth doing it.
I think lots of traders place orders at 50 retracement and having more pairs agree will increase the chances of hitting some targets.

Thanx for replay.. another thing how we consider the DIRECTION Long or short from our pivot ??
Never sell @ lower upward channel unless breacked and vise versa .
  • #9
  • May 3, 2009 10:58am May 3, 2009 10:58am
Quoting billbss
The D...HF...Y ...etc must be some type of editing I see with MS WORD.

If you didn't put them there, I won't worry about it.

So if 4 pairs agree you trade them all?
I'll give it a whirl tomorrow.
Thanks again.
I trade only the 4 pairs

You're welcome
  • #10
  • May 3, 2009 11:08am May 3, 2009 11:08am
Quoting billbss
Here's a picture of it.
As I said, I'll ignore it since I know it isn't part of the method.
Attached Image (click to enlarge)
Click to Enlarge Name: currency crosses picture.png Size: 58 KB


It's meant to show like the above.
  • #11
  • May 3, 2009 11:09am May 3, 2009 11:09am
Quote
The D...HF...Y ...etc must be some type of editing I see with MS WORD.

If you didn't put them there, I won't worry about it.

So if 4 pairs agree you trade them all?
I'll give it a whirl tomorrow.
Thanks again.
Bill; D, HF, and Y are the ends of the respective currencies. EURCHF, EURUSD, and USDJPY.
  • #12
  • May 3, 2009 11:12am May 3, 2009 11:12am
Quoting Pipsqueek
Bill; D, HF, and Y are the ends of the respective currencies. EURCHF, EURUSD, and USDJPY.

Of course!!!
I'm an idiot this morning

Maybe I didn't have enough coffee
  • #13
  • May 3, 2009 11:21am May 3, 2009 11:21am
Quoting billbss
Of course!!!
I'm an idiot this morning

Maybe I didn't have enough coffee
I am having my coffee too.
Sorry the image did't show right for you.

Constin
  • #14
  • May 3, 2009 11:22am May 3, 2009 11:22am
Hi Constin .. can we say that

SELL Entry : (downtrend @ 5min)
if we draw fib from high to low , sell point @ fibo 50 level (pivot )


BUY Entry : (Uptrend @ 5min)
if we draw fib from low to high , Buy point @ fibo 50 level (pivot )
Never sell @ lower upward channel unless breacked and vise versa .
  • #15
  • May 3, 2009 11:33am May 3, 2009 11:33am
Quoting WedWed
Thanx for replay.. another thing how we consider the DIRECTION Long or short from our pivot ??
Attached Image (click to enlarge)
Click to Enlarge Name: Short entry.png Size: 21 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Long entry.png Size: 21 KB
  • #16
  • May 3, 2009 12:15pm May 3, 2009 12:15pm
Is that pairs table PART of method ??

can i use this strategy only with one pair and ignoring all other or must relate them all togother??
Never sell @ lower upward channel unless breacked and vise versa .
  • #17
  • Last Post: May 3, 2009 10:35pm May 3, 2009 10:35pm
I watch a number of USD/xxx and xxx/USD currencies. You can really get a feel for dollar sentiment this way. It is not uncommon for dollar-crosses to all be bullish simultaneously or bearish simultaneously. In other words, often times it doesn't matter what you're trading against the dollar -- when the market is dollar bearish that's that, USD is going down against just about everything.

It can add a lot to your trading, if, say, you notice that the CAD, EUR, CHF, and AUD are all weakening mightily against the USD and you're thinking about going long NZD/USD (you may want to think twice!). No currency is an island in and of itself.

I guess you could call this inter-market analysis. Just like in my old days as a futures broker, when corn and soybeans are ramping because of a drought in the breadbasket you may want to reconsider your idea to short wheat...
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