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My Fibonacci trading system

  • #241
  • Jan 2, 2010 12:47pm Jan 2, 2010 12:47pm
Quoting promethias28
It took me awhile but hope this helps
Attachment
Very nice, seems to be similar to the way I trade. I look forward to adding some charts.

I wish everyone a good start in to 2010.
Be like water.
  • #242
  • Jan 2, 2010 2:08pm Jan 2, 2010 2:08pm
Quoting msmarple
Very nice, seems to be similar to the way I trade. I look forward to adding some charts.

I wish everyone a good start in to 2010.

Same to you Msmaple and to the rest on this forum!
Hope you all have a great new year with many pips

Cheers
  • #243
  • Jan 2, 2010 10:22pm Jan 2, 2010 10:22pm
Quote
you need some tools

1.mt4
2.kd
3.macd
4.i will update g7_usd(a pairs strong:weak indicator)

What is kd?
  • #244
  • Jan 3, 2010 12:57am Jan 3, 2010 12:57am
Quoting darksorrow
What is kd?

Stochtic..
  • #245
  • Jan 3, 2010 8:58am Jan 3, 2010 8:58am
Quoting wjqblog
Stochtic..
Thanks for the reply.

Can you please tell me where i can read about the g7_usd indicator?

I searched to get more information on g7_usd but have not found any.

I hate messy indicators but i like your system because low risk and high return.

Thanks
  • #246
  • Jan 3, 2010 2:47pm Jan 3, 2010 2:47pm
this has always boggled my mind, what is the definition of a trend, is it the immediate direction of the price making higher highs for an up trend and lower lows for a down trend? when u look at a chart sometimes the past direction may be down but price is heading up so you dont know which direction to trade, do you go with the past macro direction or do uu go with the immediate direction it confuses me, any answers would be great, i will try to post a chart. i believe i have uploaded a chart of the daily gbpjpy, which way is price going, is it heading up? sorry for the stupid question but sometimes to me at least everyone interprets a trend differently, all i want to know is if the immediate move is the trend and not the past direction? if you look at the chart u will see that the gbpjpy was heading down and now its really not heading dow nor up but it has not made lower lows and hihger highs than the previous over all down trend lower highs.
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  • #247
  • Edited Jan 4, 2010 4:18am Jan 3, 2010 5:07pm | Edited Jan 4, 2010 4:18am
another example. didnt take this trade. good risk reward. just need to figure out what fib level to enter. i guess 61.8 gives u the best risk reward.
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  • #248
  • Edited Jan 4, 2010 4:16am Jan 3, 2010 5:43pm | Edited Jan 4, 2010 4:16am
OK, so what about this trade. would you take at the 38.2? the stoch are not over sold. what is right and what is wrong here. I see the daily pivot at the 61.8 retrace 92.37. would that be the best entry?
Federali
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  • #249
  • Edited 8:53pm Jan 3, 2010 6:32pm | Edited 8:53pm
I'd seen this setup this afternoon

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It turned out not too shabby

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it's abit risky against the trend but i wanted to test the g7 indi
Overall not bad made 80 pips both trades i got out a little early on the eur/jpy ,
but will continue testing.
  • #250
  • Edited 5:04am Jan 4, 2010 4:41am | Edited 5:04am
Ok, so just wait for retrace to enter longs. now try to pick a retrace with 38.2, 50, 61.8 with any other idicator. example pivot, trendline, Ema. SUp or res. just take a estimate. lets see how these work. dont forget to look at the stoch before trade. my favorite now would be the EU at the 38.2 1.4346 sl is 10 tp atleast 30 pips. now second entry at 50Fib 1.4329 same sl and tp. there is a weekly pivot at the 38.2 fib, 15 min 21 EMA, 1hr 50 EMA, 4hr 21 Ema. so lots of sup there. at the 50 fib level 1.4329 you have the 15min 50 EMA, 1hr 21 ema, and the daily pivot( just below at 1.4925. so this will be my first choice.
Federali
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  • #251
  • Edited 6:22am Jan 4, 2010 5:05am | Edited 6:22am
ok this trade i took. here at 75 with spread. sl is 10 pips tp 30. at the 38.2 fib level. should retest the fib again most likely. but if im up 15+ i'll put sl to BE.
Federali

Ok update if you look at second chart. you would have hit TP. with a 1-3 risk reward.
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  • #252
  • Edited 5:32pm Jan 4, 2010 11:01am | Edited 5:32pm
ok GC for short. either 38.2 or 50%. hopefully this is wave 3 down. Tp could be 1.6425-55. or u can be more happy with a 1-3 risk reward. Sl is 20-25 depens on your spread.
federali


Ok, still looking at trade. looks like the 1hr will be the one. 38.2 is the entry. lets make sure stochs r not over bought.
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  • #253
  • Jan 4, 2010 10:57pm Jan 4, 2010 10:57pm
Works great.
Attached Image
  • #254
  • Jan 4, 2010 11:22pm Jan 4, 2010 11:22pm
banzai;
--------
your link #253 dt 5 jan 2010
used in demo
====

works great


=====

Sir,

could give me the fibo retracement and fibo expansion indicators, if u have
a custom indicators, so that I can use, because i do not get proper lines
in mt4 platform i use. can u share this indi's please. thanks in advance


bluejet
5th jan 2010
  • #255
  • Edited 11:49pm Jan 4, 2010 11:32pm | Edited 11:49pm
Quoting dappa
this has always boggled my mind, what is the definition of a trend, is it the immediate direction of the price making higher highs for an up trend and lower lows for a down trend? when u look at a chart sometimes the past direction may be down but price is heading up so you dont know which direction to trade, do you go with the past macro direction or do uu go with the immediate direction it confuses me, any answers would be great, i will try to post a chart. i believe i have uploaded a chart of the daily gbpjpy, which way is price going, is it...

If prices will go down next on Daily chart till 1.40 it is a range market, when it turns further upside to the next red line 1.62 or more I would say it is a trend. You could take ADX, when ADX > 25 it signalize a trend direction when there aren`t any +Di/-DI crossovers.

look at this hyperlink for getting more information:
http://www.investopedia.com/articles.../05/050505.asp
  • #256
  • Jan 5, 2010 12:19am Jan 5, 2010 12:19am
Hello

The G7-USD indicator do not shows any currency lines on my chart ?

everything is blank

what is wrong ?
  • #257
  • Jan 5, 2010 12:22am Jan 5, 2010 12:22am
Quoting webforex
Hello

The G7-USD indicator do not shows any currency lines on my chart ?

everything is blank

what is wrong ?
Hi Web
what TF are you on ? have you entered the parameters ?
" When the ship starts to sink, don't just pray. JUMP "
  • #258
  • Jan 5, 2010 1:24am Jan 5, 2010 1:24am
Quoting webforex
Hello

The G7-USD indicator do not shows any currency lines on my chart ?

everything is blank

what is wrong ?
Just enter these numbers 6303590
Hopefully that helps

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  • #259
  • Jan 5, 2010 2:03am Jan 5, 2010 2:03am
I hope i m learning fibonacci.......
Seniors?????
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  • #260
  • Jan 5, 2010 2:07am Jan 5, 2010 2:07am
promethias28
]Just enter these numbers 6303590
Hopefully that helps

===

How to get the name of the currency on the top of the chart as shown
in your image, which matches lines.( Also without any chart indicators how?)
thx for your co operation in advance

bluejet
5.1.10
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