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My Fibonacci trading system

  • #61
  • Dec 22, 2009 5:04am Dec 22, 2009 5:04am
my chart

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  • #62
  • Dec 22, 2009 5:13am Dec 22, 2009 5:13am
Quoting wjqblog
my chart

Attachment
You mean i should look for minimum 100 pips movement to draw fibo levels, then wait for retracement
  • #63
  • Dec 22, 2009 5:14am Dec 22, 2009 5:14am
Quoting Pip26
You mean i should look for minimum 100 pips movement to draw fibo levels, then wait for retracement
minimum 70pips

>100pips better

trend =many pips
  • #64
  • Dec 22, 2009 5:20am Dec 22, 2009 5:20am
Quoting tinojazz
I am +58 pips till now, thanks but somebody was take of 2 stars from your rating, shame for him, jealous trader maybe.

i think now you can get 75pips


if price get 1.5033

if me close 40%-50% lots.live 50% lots wait break

don't mofidy stop loss.


in this trade

your risk:reward near 1:8?right?
  • #65
  • Dec 22, 2009 5:27am Dec 22, 2009 5:27am
Quoting wjqblog
minimum 70pips

>100pips better

trend =many pips

okay thnx for this information.

if the first candle fails to close above/below 61.8 fibo level in the oppositve candle then should i enter at the opening of next candle?

should i follow any time to look for entry or i need to wait for G_7 indicator signal only?
  • #66
  • Dec 22, 2009 5:33am Dec 22, 2009 5:33am
First, thanks wlq for sharing this system.

My understanding of this system are as following:

1. Trade with the trend. How to spot a pair that is trending? Here comes the indicator G-7 thing with 1 and -1 as measuring levels of trend. It seems the benefit of g-7 indicator is that you can just load it into one chart and you can monitor many pairs instead of opening a lot of charts. But if you like it, you can just monitor your favorite pair to see if it moves >70 pips to confirm a trend.

2. If a trend is confirmed, fibo lines are drawn and wait for the retrace to 38.2 or 61.8 and if these lines hold then enter a trade according to KD or MACD rules.

3.SL is 38.2 or 61.8. Use fibo expansion to determine TPS.

Just my 2 cents. I could be terribly wrong. ^-^
  • #67
  • Dec 22, 2009 5:42am Dec 22, 2009 5:42am
Quoting wjqblog
i think now you can get 75pips


if price get 1.5033

if me close 40%-50% lots.live 50% lots wait break

don't mofidy stop loss.


in this trade

your risk:reward near 1:8?right?
Hi, the pice is mooving a long time in a range, so i don think that will breakout today
{Promotion Removed}
  • #68
  • Dec 22, 2009 5:46am Dec 22, 2009 5:46am
Gbp/Usd Chart movement > 100.
is it correct fibo now??
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  • #69
  • Dec 22, 2009 5:50am Dec 22, 2009 5:50am
Quoting tinojazz
Hi, the pice is mooving a long time in a range, so i don think that will breakout today
see what i am prognose
Attached Image (click to enlarge)
Click to Enlarge Name: uc1.GIF Size: 15 KB
{Promotion Removed}
  • #70
  • Dec 22, 2009 6:04am Dec 22, 2009 6:04am
Quoting Feihong
First, thanks wlq for sharing this system.

My understanding of this system are as following:

1. Trade with the trend. How to spot a pair that is trending? Here comes the indicator G-7 thing with 1 and -1 as measuring levels of trend. It seems the benefit of g-7 indicator is that you can just load it into one chart and you can monitor many pairs instead of opening a lot of charts. But if you like it, you can just monitor your favorite pair to see if it moves >70 pips to confirm a trend.

2. If a trend is confirmed, fibo lines are drawn and wait...

Thank you translate

Thank you

any one if don't know my means.

Feilong say all.
  • #71
  • Dec 22, 2009 6:09am Dec 22, 2009 6:09am
Quoting Pip26
Gbp/Usd Chart movement > 100.
is it correct fibo now??

Wjgblog is it the right fibo drawn on my Gbp/Usd M15 Chart?????
  • #72
  • Dec 22, 2009 6:11am Dec 22, 2009 6:11am
Quoting Feihong
First, thanks wlq for sharing this system.

My understanding of this system are as following:

1. Trade with the trend. How to spot a pair that is trending? Here comes the indicator G-7 thing with 1 and -1 as measuring levels of trend. It seems the benefit of g-7 indicator is that you can just load it into one chart and you can monitor many pairs instead of opening a lot of charts. But if you like it, you can just monitor your favorite pair to see if it moves >70 pips to confirm a trend.

2. If a trend is confirmed, fibo lines are drawn and wait...

Thanx
  • #73
  • Dec 22, 2009 6:17am Dec 22, 2009 6:17am
Quoting wjqblog
Hi.etrader..

61.8 are you entry??

get money?

if my stragety right..

Usd/Cad next target maybe priview lowest

and if breakout..

hehe
******************************
Hello wjqblog,

Long Trade USDCAD M15
The entry was the Stoch (5,3,3)
Exit was at Fib 61.8 level
Profit was around +40 pips
******************************
Short Trade AUDUSD M15
G7-USD:
AUD (Yellow): +1.43
USD (Black): -1.08

Entry: 0.88132
Exit at 61.8% Fibonacci level: 0.87952
Profit: +18 pips

You are doing great with your English.

eTrader,

Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Statement01.jpg Size: 13 KB
  • #74
  • Dec 22, 2009 6:25am Dec 22, 2009 6:25am
Quoting eTrader
******************************
Hello wjqblog,

Long Trade USDCAD M15
The entry was the Stoch (5,3,3)
Exit was at Fib 61.8 level
Profit was around +40 pips
******************************
Short Trade AUDUSD M15
G7-USD:
AUD (Yellow): +1.43
USD (Black): -1.08

Entry: 0.88132
Exit at 61.8% Fibonacci level: 0.87952
Profit: +18 pips

You are doing great with your English.

eTrader,

oh
i know why you get small profit

kd+rsi+cci.

so entry later..

but safely..




do you self.do you think.

i only use kd+fibo.
  • #75
  • Dec 22, 2009 6:28am Dec 22, 2009 6:28am
hi wjqblog
first thank you for sharing your system, i like such approach to trading.
Would you consider this as a good setup for opening short trade on GBPCAD?
thanks a lot
Attached Image (click to enlarge)
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  • #76
  • Dec 22, 2009 6:42am Dec 22, 2009 6:42am
Hi wjq, would you please clarify your definition of 'entry box'?
  • #77
  • Dec 22, 2009 6:46am Dec 22, 2009 6:46am
Quoting oromek
hi wjqblog
first thank you for sharing your system, i like such approach to trading.
Would you consider this as a good setup for opening short trade on GBPCAD?
thanks a lot
it's look right

But I want short stop at 1.6054

I think profit big
  • #78
  • Dec 22, 2009 6:46am Dec 22, 2009 6:46am
Quoting feihong
hi wjq, would you please clarify your definition of 'entry box'?
我的意思是货币对进入震荡
  • #79
  • Dec 22, 2009 6:58am Dec 22, 2009 6:58am
Quoting wjqblog
我的意思是货币对进入震荡
Thank you very much.

So 'entry box' means price is ranging
  • #80
  • Dec 22, 2009 6:59am Dec 22, 2009 6:59am
thank you for your response, i'm starting to trade your system on demo account. Could you write how G7_USD measures currency strength (or redirect to place where i can read about it).
regards
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