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Simple & Consistent Fibbing Method

  • #201
  • Mar 9, 2010 3:35pm Mar 9, 2010 3:35pm
Quoting pathumracled
Hello Simoneg,
Hello all.

Thank you for making this flower bloom so wonderfully. Do continue to care as you share.

Will certainly look at that utility.

[color=black][font=Verdana]Before it is too long, because psychology is different for live from...
Hi pathumracled, I think maybe I am the only one since the thread is pretty new and everyone else is seeking to understand the technique. The trading psychology is also affected by one's confidence in what they are using.

I trust it will continue to bloom and benefit others as we all share!
Hero Traders Live to see their Accounts Die!
  • #202
  • Mar 9, 2010 4:07pm Mar 9, 2010 4:07pm
Simone,

If one wanted to just take the first take profit level every time, would this eliminate one of the retracements that have to be drawn for using the strategy under the normal method (letting the profits run longer)?.

Thanks much,
~Steve
  • #203
  • Mar 9, 2010 4:23pm Mar 9, 2010 4:23pm
Quoting apxsolutions
Simone,

If one wanted to just take the first take profit level every time, would this eliminate one of the retracements that have to be drawn for using the strategy under the normal method (letting the profits run longer)?.

Thanks much,
~Steve
Hi apx, can you please clarify what you are referring to as the "normal method" so that I may answer your question.
Hero Traders Live to see their Accounts Die!
  • #204
  • Mar 9, 2010 4:39pm Mar 9, 2010 4:39pm
Sure, I was just referring to the 'normal method' as being using your system just as your describing letting the profits run beyond the first take profit level. What I was referring to was what if you were to modify it so that if one were to just exit at the first take profit level every time, would this eliminate the need to draw one of three retracements you use?. I'm just trying to simplify it a bit for those who wish just to exit on the first take profit levels.

Hopefully the clarifies it a bit, if not, I'll try again ..
~Steve
  • #205
  • Mar 9, 2010 4:50pm Mar 9, 2010 4:50pm
Quoting apxsolutions
Sure, I was just referring to the 'normal method' as being using your system just as your describing letting the profits run beyond the first take profit level. What I was referring to was what if you were to modify it so that if one were to just exit at the first take profit level every time, would this eliminate the need to draw one of three retracements you use?. I'm just trying to simplify it a bit for those who wish just to exit on the first take profit levels.

Hopefully the clarifies it a bit, if not, I'll try again ..
~Steve
Ok I see what you mean. The thing about profit taking is that it tends to largely depend on the trader. One can always choose to exit at each take profit level and re-enter rather than hold. You may or may not need to draw the 50% breach fib. It depends on the number of previous/highs or lows that are between the entry point and the first take profit level. Also, the fib of the entire swing is there as a guide for ultimate targets, & stronger support and resistance levels.
Hero Traders Live to see their Accounts Die!
  • #206
  • Mar 9, 2010 4:57pm Mar 9, 2010 4:57pm
Ok, very good. Thanks!.
  • #207
  • Mar 9, 2010 4:59pm Mar 9, 2010 4:59pm
Quoting apxsolutions
Ok, very good. Thanks!.
You're welcome!
Hero Traders Live to see their Accounts Die!
  • #208
  • Mar 9, 2010 5:46pm Mar 9, 2010 5:46pm
Longs off our support at 1.4981 going good. We are now at a major breach level (1.5010). We need to see a close above here to give us a buy. Fibbing today's high and low. We see that the BULL Targets are 1.5057 to 1.5076.
Hero Traders Live to see their Accounts Die!
  • #209
  • Mar 9, 2010 5:48pm Mar 9, 2010 5:48pm
6:45pm EST Candle closed above 1.5010. Added long position at 1.5013 for above specified target levels. You can always have a fixed TP, eg 30,40pips if you are not comfortable holding.
Hero Traders Live to see their Accounts Die!
  • #210
  • Edited 8:03pm Mar 9, 2010 7:48pm | Edited 8:03pm
Forgot about 1.5015 resistance!
I suspect however that this could be a retracement for a climb to 1.5060 to 1.5140.

Next Trade!

http://img192.imageshack.us/img192/9294/pic11d.jpg

Out of the market until Thursday. Trade safely!
Hero Traders Live to see their Accounts Die!
  • #211
  • Mar 9, 2010 8:06pm Mar 9, 2010 8:06pm
/Users/Ceximi/Desktop/CM Capture 1.png
A. Finesse Williams Making Millions One Pip At A Time!
  • #212
  • Mar 9, 2010 8:14pm Mar 9, 2010 8:14pm
http://http://yfrog.com/62cmcapture1p
A. Finesse Williams Making Millions One Pip At A Time!
  • #213
  • Mar 9, 2010 8:24pm Mar 9, 2010 8:24pm
Quoting aswilled
http://http://yfrog.com/62cmcapture1p
http://yfrog.com/dycmcapture3p

Testing image capture...

<a target='_blank' title='ImageShack - Image And Video Hosting' href='http://img502.imageshack.us/i/cmcapture3.png/'><img src='http://img502.imageshack.us/img502/3950/cmcapture3.png' border='0'/></a>

http://img502.imageshack.us/img502/3950/cmcapture3.png
A. Finesse Williams Making Millions One Pip At A Time!
  • #214
  • Mar 9, 2010 8:48pm Mar 9, 2010 8:48pm
As you can see the way I have the fibs set from the high to the most recent low, since price is falling. It appears to be heading for T3 @4934 where there is also strong support. But it might bounce/reverse at T2: 4945. Resistance is holding at every turn. So the bears are in control for the moment.

http://img203.imageshack.us/img203/9295/cmcapture4.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #215
  • Mar 9, 2010 9:03pm Mar 9, 2010 9:03pm
Here is the image edited to see what I am seeing.

http://img94.imageshack.us/img94/2605/cmcapture2l.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #216
  • Mar 10, 2010 1:58am Mar 10, 2010 1:58am
Good morning traders. Let begin. The pound is still under selling pressure. Resistance is holding and the next major support is 4846. Which happens to be our T2 (or-.34 ret.). And should it proceed further, our next target is 4791. The intraday range is from 4980 - 4912. These are the parameters that you will start your intraday fib with. And you will scale the market all the down/up with that fib as it moves.

http://img535.imageshack.us/img535/5230/cmcapture1.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #217
  • Mar 10, 2010 2:09am Mar 10, 2010 2:09am
I am in the market @4924. Looking for the swing fib (5195 - 4934) T2 (-.34 ret) to be hit at 4846. Up 24 pips.
A. Finesse Williams Making Millions One Pip At A Time!
  • #218
  • Mar 10, 2010 3:41am Mar 10, 2010 3:41am
This is the result of the manufacturing report from Britain. Published on Wednesday at 9:30 GMT. This event will probably have the strongest immediate impact on the Pound. Production surprised with a nice rise of 0.9% last month, and is now predicted to get back to slower growth – 0.3%. Note that the Industrial Production figure contains manufacturing (80%) and other sectors, but the manufacturing number is eyed. Your fibs remain the same since the whole move was contained within them parameters. Look for a retrace.

http://img38.imageshack.us/img38/4209/cmcapture1t.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #219
  • Mar 10, 2010 4:04am Mar 10, 2010 4:04am
Market is at the figure. If it gets under it will further confirm the sellers market. Price is under the 50% and looks to test the low of 4888.

http://img32.imageshack.us/img32/2889/cmcapture2y.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #220
  • Mar 10, 2010 4:44am Mar 10, 2010 4:44am
hello All,
please share the view attached using the viewer tool mentioned by Simoneg earlier. Quite Nifty.







my Notes: How To use Yascu Screen capture (On Metatrade 4.0):
(1) Find location of Yascu.exe; double click to actovate
(2) Choose loation to store pictures shots etc.
(3) Choose mode of operation {user Definedrecommended}
(4) Click n red record button.
(5) Go to the screen eg MT4.0
(5) Use cursor "+" to drag diagonally to cove the area to be captured
(6) Save etc. (does it automatically actually)
(7) Can be used to draw scribbled on shot before saving

Thanks Simoneg

Bless
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