Bemac's Toolbox

I was asked (via PM) for some Fib #'s that I utilize in Trading.
Rather than try to figure out how to post an image or file in PM I decided to post it here.



Hope it helps.

BMc

...




Away and Gone TFN playing with my charts...

Hey AK, You'll really get a kick out of this one.

Edit!!!! Not this one !!!

This One. It corrects the DST Start/Finish Date error And shows which Markets are OPEN. etc. etc.


currently working on some other enhancements.

ps. somebody posted that there is no need to know what a Pip is worth (Pip Value $$$). They are all roughly $10.00.
{Not True.}
They have obviously not had a EURGBP Trade Open at the same time as a GBPNZD Trade.
Your Opening Cost (Spread * $Pip Value at time of posting) on a
EURGBP Trade is {Spread * $Pip} = 2.7 * $15.2 =$41.03.
GBPNZD Trade is {Spread * $Pip} =11.2 * $7.05 = $79.00.
These numbers can & do change by the second. If that doesn't matter to you or Your Borker posts them on a Pending Trade Ticket then you probably don't need this file.

Are you a mathematician?

I love Fibs... something tells me you are in for a lot of questions.

Mike

Bump
edited Post #3

Price can extend to 161% OR
less OR
more.
I do not believe in Fibonacci.
Too many odds against you...

I'm not asking you to believe in Fibs.
That's a personal decision.
NOT NOT

And I not ask you to believe me.
Simply, I told my opinion.
I explored Fibonacci a lot and
came to this opinion.
If you know if it bounce from 50%, not 61%,
please share with us how you know this.
That would be great help.

Well... we could spend the next millenia discussing this or you could tell me what You Do believe in.
It's up to you.

I have a respect to Fibs.
For me Fibo is 61% and 161% only, this is normal way.
The rest is distortions. And they can be identified
if trader knows what is going on.

LOL...
this thread is ABOUT Fibs. & YOU do not believe in Fibs.
so why are u here? let me restate that: why are u still here? (i can STILL see u down there)
Can u not show respect?
is the itch too hard to ignore that u have to scratch it?

.

Here guys, you can attach this to Any Pair, Any Timeframe. {The Text one on the Chart. Not the indi. in lower subframe.}

Compare the "Entry Cost" between Pairs.

eg
EURGBP ($40.00 to get in and <3 Pips from Entry) &


GBPNZD.($80.00 to get in and already >11 Pips from Entry)


Which do you think is the better deal?

Contrary to Popular belief, if you look across the board, a Pip is not commonly worth $10.00

Add that to the Current Spread & it may just assist you in deciding whether to Enter (or even exit) a Trade.

On Monday, GBPNZD hit a Spread of 25.2 Pips. {Blue spike in lower Sub frame}
That's a $180.00 Entry cost.

EURUSD hit a Spread of 3.8 Pips. {Blue spike in lower Sub frame}
That's a $38.00 Entry cost.

Hi Bemac,

Seems like a very useful indicator (if that's not and oxymoron!).

Thanks for sharing it.

Dan

Thanks Dan, I should have said...
Any of These 27 Pairs. Thats all the Symbols that MY MT4 Borker provides

AUDCAD AUDCHF AUDJPY AUDNZD AUDUSD CADCHF CADJPY CHFJPY EURAUD EURCAD EURCHF EURGBP EURJPY EURUSD GBPAUD GBPCAD GBPCHF GBPJPY GBPNZD GBPUSD NZDCAD NZDCHF NZDJPY NZDUSD USDCAD USDCHF USDJPY

Trade Tracker:
Bunch o' Macros and DDE so Don't dnld it {when I upload it, still debuggung & manipulating columns} unless you trust me.