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My Fibonacci trading system

  • #501
  • Feb 4, 2010 11:47pm Feb 4, 2010 11:47pm
Quoting wjqblog
fxpro

server :real-2

ac:223431
ps:aaaAAA123


i have been following your thread for more than a month now.
this is my first post.
i logged in all day yesterday looking at your trading style. very impressive i must say.
just have 2 questions. if you don't mind answering.

1. why do you leave a trade on over night ?
eg. a sell order on GBP/USD at 1.57365 ?

2. at 14:00 hrs yesterday when the GPB/USD price spiked the opposite direction of your trade. how did you manage the stop loss. i noticed you placed a stop loss at about 1.58960.


  • #502
  • Feb 5, 2010 12:14am Feb 5, 2010 12:14am
Quoting saqib
i have been following your thread for more than a month now.
this is my first post.
i logged in all day yesterday looking at your trading style. very impressive i must say.
just have 2 questions. if you don't mind answering.

1. why do you leave a trade on over night ?
eg. a sell order on GBP/USD at 1.57365 ?

2. at 14:00 hrs yesterday when the GPB/USD price spiked the opposite direction of your trade. how did you manage the stop loss. i noticed you placed a stop loss at[b] about 1.58960....
hi i answer you.but sorry my english
1.are you say buy gbp/usd and buy aud/usd?
that is 2 wrong trade.
i don't use stop loss.only use order hedge hold.
i use stop loss only protect profit.

because yeterday all pairs down.
i hope in asia market .the market up a little.

so i close sell gbp/usd and aud/usd

add order for market continue go down.

in now .gpb go down.but aud up.
aud up near 30pips.i hedge hold again.


but gbp/usd i am wrong..i will wait gbp down to a support
close sell again.
and wait gbp up again.
if i wrong again.
i will hedge hold.
you know my means?

my leaverge very big 500.
i have enough change.


2.yeterday i don't know gbp have big news.
so i stop loss.
one trade 0 pips.
one trade order hedge.

i forget why i set stop loss

normal i put stop loss at a downwave 61.8% retracement +5-10pips.
normal .you can look.

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  • #503
  • Feb 5, 2010 12:25am Feb 5, 2010 12:25am
Appreciate your quick response.
i understand now.
thank you.
  • #504
  • Feb 5, 2010 3:26am Feb 5, 2010 3:26am
Good Morning All,

Here is my 2 trades i just entered short entries....
Attached Image(s) (click to enlarge)
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  • #505
  • Feb 5, 2010 3:48am Feb 5, 2010 3:48am
today night

news non-famers.

so i don't trade today.

make love.
  • #506
  • Feb 5, 2010 3:49am Feb 5, 2010 3:49am
Quoting wjqblog
today night

news non-famers.

so i don't trade today.

make love.

Hello Wjqblog,

then you should give time to your family now man..... enjoy live......

Good Luck
  • #507
  • Feb 5, 2010 4:02am Feb 5, 2010 4:02am
Hi Wjqblog,

I noticed that you have placed a short on GU at 1.57365. The trend has been up and down since and the lowest it goes down to 1.56512 (profit of 85.30). Question: how do you decide and determine when to take profit?

Thanks in advance!
  • #508
  • Feb 5, 2010 5:11am Feb 5, 2010 5:11am
Quoting hello_lock
Hi Wjqblog,

I noticed that you have placed a short on GU at 1.57365. The trend has been up and down since and the lowest it goes down to 1.56512 (profit of 85.30). Question: how do you decide and determine when to take profit?

Thanks in advance!

that only hedge.

not trade.

becasue no-famers news.

i don't want trade.
  • #509
  • Feb 5, 2010 6:36am Feb 5, 2010 6:36am
you are right Wjqblog, i closed my all positions now waiting for major data
  • #510
  • Feb 5, 2010 8:29am Feb 5, 2010 8:29am
Quoting Pip26
you are right Wjqblog, i closed my all positions now waiting for major data

haha

yesterday i get many pips

so i play a game.stop loss 35pips.

trade once.

hehe sell gbp..hehe..

..

i suggest everyboday

look all market.

you will know.

what is direction..

my teacher tell me look 9 chart.

very helpful

i suggest everybody look

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  • #511
  • Feb 5, 2010 8:46am Feb 5, 2010 8:46am
Quoting wjqblog
haha

yesterday i get many pips

so i play a game.stop loss 35pips.

trade once.

hehe sell gbp..hehe..

..

i suggest everyboday

look all market.

you will know.

what is direction..

my teacher tell me look 9 chart.

very helpful

i suggest everybody look

Attachment

yeah man you are right , your GU trades are going well good luck...
Now i will trade on monday with this waves...
  • #512
  • Feb 5, 2010 8:58am Feb 5, 2010 8:58am
Quoting Pip26
yeah man you are right , your GU trades are going well good luck...
Now i will trade on monday with this waves...
hehe

because first sell i stoploss chage open.
so gpb/usd break i sell again.stop loss again 35-40pips.

hehe.
  • #513
  • Feb 5, 2010 9:30am Feb 5, 2010 9:30am
and gbp/usd daily analytics

Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 117 KB


gbp/usd daily uptrend 38.2% break next target 61.8% uptrend


and fibonacci expansion daily target 2 at 50%

sell order i maybe get long time
  • #514
  • Feb 5, 2010 9:39am Feb 5, 2010 9:39am
Hi Wjqblog,

You mentioned:

"because first sell i stoploss chage open.
so gpb/usd break i sell again.stop loss again 35-40pips."

Where we can find the GU break so that I can enter another sell trade after the first sell trade? For example, after your first sell at 1.57365, you made another one at 1.57027. Is 1.57027 a break point? How to find this break point if so?

Stop loss again 35-40pips means you take profit (close the trade) if it moves 35-40 pips?

Many thanks!
  • #515
  • Feb 5, 2010 11:03am Feb 5, 2010 11:03am
Quoting wjqblog
and gbp/usd daily analytics

Attachment

gbp/usd daily uptrend 38.2% break next target 61.8% uptrend


and fibonacci expansion daily target 2 at 50%

sell order i maybe get long time

Great work man you are awsome , your chart tells thousand words...... keep it up.

Today your chart learnt me a bigger picture.
  • #516
  • Feb 6, 2010 12:40am Feb 6, 2010 12:40am
Quoting Pip26
Great work man you are awsome , your chart tells thousand words...... keep it up.

Today your chart learnt me a bigger picture.
don't thank me

only a chart.....that's not future.
  • #517
  • Feb 6, 2010 12:52am Feb 6, 2010 12:52am
Quoting hello_lock
Hi Wjqblog,

You mentioned:

"because first sell i stoploss chage open.
so gpb/usd break i sell again.stop loss again 35-40pips."

Where we can find the GU break so that I can enter another sell trade after the first sell trade? For example, after your first sell at 1.57365, you made another one at 1.57027. Is 1.57027 a break point? How to find this break point if so?

Stop loss again 35-40pips means you take profit (close the trade) if it moves 35-40 pips?

Many thanks!
Attached Image (click to enlarge)
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  • #518
  • Feb 6, 2010 8:55am Feb 6, 2010 8:55am
hi wjqblog,

i have read through all yr thread and i found that yr system is very interesting and effective.i am a newbie and start to trade since last year but unfortunately have been lost about US 4k until now.my mistake is not patient and try to earn back the $ that have been lost and this caused me to lost more. I have few question need your help,for example,in this cad/jpy 4H chart,from which point should i draw the fibonacci trend line,is it from A to B or from C to D or we should not trade because it is ranging?

Hope you can understand my question and waiting for your reply soon.
thanks.
Attached Image (click to enlarge)
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  • #519
  • Feb 6, 2010 10:14am Feb 6, 2010 10:14am
Quoting mikok730
hi wjqblog,

i have read through all yr thread and i found that yr system is very interesting and effective.i am a newbie and start to trade since last year but unfortunately have been lost about US 4k until now.my mistake is not patient and try to earn back the $ that have been lost and this caused me to lost more. I have few question need your help,for example,in this cad/jpy 4H chart,from which point should i draw the fibonacci trend line,is it from A to B or from C to D or we should not trade because it is ranging?

Hope you can understand...

Hi.

I only want say one.

This system is not for newbie.

Newbie I only suggest trady eur/usd...not gbp/usd

You can look my history.

Infact..I only trade eur/usd and gpb/usd.


sometime trade x/JPY pairs.

Really I suggest you drop Cad/jpy.Your operation Level don't control the pairs.

My account only have 500$.but get some profit..forex don't need more $.

must you can get profit skill.
  • #520
  • Edited 9:29pm Feb 6, 2010 6:17pm | Edited 9:29pm
Hello wjqblog,

Gong Xi Fa Cai!

I have a few questions about your system:

1.) Do you look for candlestick formations (i.e. pinbars) before taking your trades? Or you just enter buy stop & sell stop orders at the level? I find waiting for candlestick formations will sometimes take you into a trade close to 38.2 (1st target) area. 1st target sometimes will only be 10 pips or less away.

2.) For the multi-fib analysis, do you also take counter trend trades?

3.) You showed that 161.8 FE must be in confluence with 38.2 & 61.8 fib levels to take the trade. But not all trades will go to the 161.8 FE level. How about 61.8 FE & 100 FE confluence with 38.2 & 61.8 levels? Do you take those trades as well?

4.) Do you also use Daily pivot levels in your analysis?

5.) Do you still use stochastics? I noticed you started using it again on some recent charts.
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