Looks like my short was the right choice, but would I have been wrong to think about going long at the marked spot?...Obviously I would have been prooven wrong, but that did look like a good long entry.
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lol I can see you still have noticed the market is like flipping a coin . Your asking what fibbs has more orders but no one knows this answer. If you did then it would not be a market . I had a period of time I got stuck at that thinking part. Simply try and think deeper and you will start understanding why money management and risk to rewad is more important then anything else.
lol I can see you still have noticed the market is like flipping a coin . Your asking what fibbs has more orders but no one knows this answer. If you did then it would not be a market . I had a period of time I got stuck at that thinking part. Simply try and think deeper and you will start understanding why money management and risk to rewad is more important then anything else.
Hey guys I am new here, just would like to find out whats a best time frame for using Fib...
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It is a hard work. How long did it take you to learn abcd...? Years... This also take some time...
The best is the best! It depends on your own appetite and circumstances. Try to measure something and you will see. Try demo and find your trading menthality... Dont struggle too much in one timeframe at first, you have to obtain some real view of the market. It demands time. So my suggestion for you now is, try to practise demo. Dont go live, probably have big DD... Regards
I got the answer, the fibs were off my chart at the top, just had to compress the price axis.
Thank you
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Template for GBP/USD is good only for that pair. Try more recent template (from page 400 and up) for EUR/USD and may be JPY.
For some reason I can't upload a recent template.
A simple method to use with MetaTrader 4 when utilizing a Fibonacci Retracement as a template is to open the properties of pre-existing version then choose the 'Fibo Levels' tab. Once you have done that, that particular Fib is now stored as the 'default', at least until such time as you view or modify the 'Fibo Levels' properties tab.
While not a direct answer to finding them on the template. It will allow you to copy them from any chart you have them setup on.
Just started to read this interesting thread and it appears to show much promise. I just recently made a trade and grabbed some pips with this strategy with my limited understanding of it. I have posted my chart from this trade and hope it appears (I am a newbie). Any comment appreciated. Lots of great info on this site and this thread. Looking forward to reading more of it.
JDub
Ummm the key thing to trading fibbs with my experience . Is that any fibb you draw has a chance of success. Trying to figure out whats the best fibb is like trying to figure out whats everyones favorite car in the world is. Also understanding that just because the last couple of candles show bullishness or bearishness it does not mean the market has to do something it just means theirs a chance that it can do it. The key thing to trading is risk to reward. If price shows that you have a chance of movement in that direction and the fibb you are using sets up with that thought and you have good risk to reward then pull the trigger. Wait for the outcome and you will slowly start understanding that trading is not like a sport that you can get better and better in the actual results . You can grow in your understanding of the market though. This is like any other Job you have your ups and your downs but you have to stick with it long enough to see both sides of it.
Fibonacci Trading with Bobokus
