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Fibonacci Trading with Bobokus

  • #8,261
  • Mar 31, 2010 4:18pm Mar 31, 2010 4:18pm
Quoting jflor100
Here is a post from Bobokus below in blue...I think this will help you....
Thanks for your help, but you are still not answering my question. His statement that you have quoted above does not get into any specifics. Thats why I asked Speedarad who has a bunch of experience on this thread.
  • #8,262
  • Mar 31, 2010 5:30pm Mar 31, 2010 5:30pm
Quoting forexpipmaster
I have a question for you, lets say that the GU trends up all day, makes a new high, then pulls back down to the Intraday High fib(38.6) and turns around and heads back up. Should we be buying that bounce?? Or do we need to see the price action enter the decision zone before we go short/long at the Intraday Short/High fibs??
Your feedback would be greatly appreciated.

Sure you can buy that bounce. Now if this is supported by the right price action than your odds are getting better.Is not necessary to wait for price to get into decision zone because you can miss the trade.
Here is a couple of examples from the last two days.

There is no exact rules on how to deal with this. You can use anything that may work for you or stuff that you learned somewhere else.
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  • #8,263
  • Mar 31, 2010 5:46pm Mar 31, 2010 5:46pm
Quoting jflor100
Here is a post from Bobokus below in blue...I think this will help you. If the 38.2 showed strong support at the bounce and the entry still gave you good r/r I would say it would be a good entry.



[color=deepskyblue]Well thats basically what this thread is for on how i use fibs to trade with.the numbers are basically a percentage of the price movement since the last waveform whether it be up or down, and over time the these fib levels have proven to be common retracement points createing support and resistance levels.the most important being...

All his statements should go into the "Golden Trading Book"
  • #8,264
  • Mar 31, 2010 6:56pm Mar 31, 2010 6:56pm
Nice charts there...I am really liking this trading with the Fibs....and the way he has laid it out for you.

He is a great trader....are you at the www.bobokus.com site as well in the member section or no?

I am just curious if all your knowledge on fibs came from here.

Take care...
  • #8,265
  • Mar 31, 2010 7:30pm Mar 31, 2010 7:30pm
Quoting jflor100
Nice charts there...I am really liking this trading with the Fibs....and the way he has laid it out for you.

He is a great trader....are you at the www.bobokus.com site as well in the member section or no?

I am just curious if all your knowledge on fibs came from here.

Take care...

I was never a paying member on his website.Everything I learned was from this thread.
I do have in my trading arsenal stuff that I learned from other sources but 90% is from this thread.

If you want to master fibtrading then bobokus.com is the way to go.It will probably be a faster learning process as well ,plus I'm sure he has much more under his belt that is not presented in the thread.
  • #8,266
  • Apr 1, 2010 12:46am Apr 1, 2010 12:46am
Quoting speedarad
I was never a paying member on his website.Everything I learned was from this thread.
I do have in my trading arsenal stuff that I learned from other sources but 90% is from this thread.

If you want to master fibtrading then bobokus.com is the way to go.It will probably be a faster learning process as well ,plus I'm sure he has much more under his belt that is not presented in the thread.
Actually I did join his room for 1 month last year, and basically found that he had a couple of extra goodies up his sleeve from what he shows here, but after paying $149.00, I found that it was not necessary because I learned all of he extra stuff thats not in here. I also found that for me, it would be way better if he was more hands on as far as calling trades and going them every day, this way people would learn way faster watching him actually trade over his shoulder.
  • #8,267
  • Apr 3, 2010 12:29pm Apr 3, 2010 12:29pm
[te=speedarad;3590504]You know that wis raining hen it starts raining...lol.
It's difficult to predict when the mkt. gets choppy before it actually happens.One sign could be when candles start closing with big wicks on both ends and is not clear direction in the mkt.
Looks like Sherm is not around at this time , so I taught you wait enough for a simple answer.[/quote]

TANK YOU FOR YOUR HELP YOU CAN SHOW ME PLESE WHAT IS candles start closing with big
  • #8,268
  • Apr 3, 2010 2:15pm Apr 3, 2010 2:15pm
Quoting drortrader
[te=speedarad;3590504]You know that wis raining hen it starts raining...lol.
It's difficult to predict when the mkt. gets choppy before it actually happens.One sign could be when candles start closing with big wicks on both ends and is not clear direction in the mkt.
Looks like Sherm is not around at this time , so I taught you wait enough for a simple answer.
TANK YOU FOR YOUR HELP YOU CAN SHOW ME PLESE WHAT IS candles start closing with big[/quote]


Here is an example for you.

Look at the candles in the highlighted area.
This is a situation where market switch from trending condition into range.
Look at the candles shape.Where do they open and where do they close.
Attached Image (click to enlarge)
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  • #8,269
  • Apr 4, 2010 6:32am Apr 4, 2010 6:32am
Tank you for your help speedarad
  • #8,270
  • Apr 5, 2010 8:07am Apr 5, 2010 8:07am
Will be looking to buy the pullback with a limit order around 1.50 depending on the the time it gets there and the news around there if I do that I will most likely be placing my stop below last month and looking for a move upto 1.56$ . The other plan is wait for price to impact 1.51 or 1.50 and watch price action and see if I can reduce risk ...it might take me more then one try but I am liking the accumulation the market is doing and looking foward to taking a postion in the market. I am still considering trading the reatracement back down to my areas on intrest for buying but still waiting for clear sentiment.



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  • #8,271
  • Apr 5, 2010 7:25pm Apr 5, 2010 7:25pm
Quoting Shermenator
Will be looking to buy the pullback with a limit order around 1.50 depending on the the time it gets there and the news around there if I do that I will most likely be placing my stop below last month and looking for a move upto 1.56$ . The other plan is wait for price to impact 1.51 or 1.50 and watch price action and see if I can reduce risk ...it might take me more then one try but I am liking the accumulation the market is doing and looking foward to taking a postion in the market. I am still considering trading the reatracement back down to...


Yes . Is a solid plan I agree.

It may take a while thou may be we can get some on the way down.
  • #8,272
  • Apr 6, 2010 1:49am Apr 6, 2010 1:49am
Quoting speedarad
Yes . Is a solid plan I agree.

It may take a while thou may be we can get some on the way down.
Speedarad : short question, after reading this thread for about 3 weeks. Did you learn by re-naming the Fib tool as Bobokus taught, and then simply went on practising, until you reached this level of professionalism ? Or did you have some external training too ? Just wondering, because I was thinking of going for membership on Bo`s site. I am not searching for a trade call service, but his way of trading fibs looks very appealing, something I could use for all my trading the next years.

Sorry a bit for off-topic. But I just wanted to know what the best approach is if one is not a short-term system seeker but really wants to learn this thoroughly.

Thanks for an answer.
Be like water.
  • #8,273
  • Apr 6, 2010 4:21am Apr 6, 2010 4:21am
Quoting msmarple
Speedarad : short question, after reading this thread for about 3 weeks. Did you learn by re-naming the Fib tool as Bobokus taught, and then simply went on practising, until you reached this level of professionalism ? Or did you have some external training too ? Just wondering, because I was thinking of going for membership on Bo`s site. I am not searching for a trade call service, but his way of trading fibs looks very appealing, something I could use for all my trading the next years.

Sorry a bit for off-topic. But I just wanted to know what...

I had some previous training which I can't go into much detail without getting into legal trouble . That training consists into one course and two live seminars. To get you an idea was breakout trades from consolidation areas. It never really work out for me in terms of consistent profits.But ,probably help me out grow as a trader.When I run into Bo's thread is when things start turning around ( after some study ).I trade using his terminology.The thread is great but I think if you sign up for his website you can speed up the learning process plus he have some stuff that was not disclose in public.Basically you get a prime time training.
  • #8,274
  • Apr 6, 2010 4:46pm Apr 6, 2010 4:46pm
Thanks very much for the reply, very helpful. I have been reading C. Boroden, R. Miner, and a few others - and I use fibs as carefully as possible. But to really apply this as some kind of s&r tracking of order flow on multiple timeframes ( and all the while keeping it as simple and sophisticated as possible ) is a new conecept for me. Some things I would like to learn : why do some fib masters treat extensions ( not retracements ) as " the secret ", others create a mystery out of time intervals.....well enough said.

I am learning and reading, very grateful for this thread.

Be like water.
  • #8,275
  • Apr 15, 2010 2:34am Apr 15, 2010 2:34am
thx for sharing, i learned a lot from this topic
  • #8,276
  • Apr 16, 2010 1:53am Apr 16, 2010 1:53am
Hi,

I am new to this system.can someone pls pass me the link for the templetes and indicators being used.Do we need to manually draw fibonacci lines or does it included in templetes.

thanks
Dragon the best Indicator
  • #8,277
  • Apr 16, 2010 12:05pm Apr 16, 2010 12:05pm
Hello all,

I am specially looking for swing fibo.Do you use this as indicator to draw fibo lines.I am totally new to this system,learned first few pages and got very much impressed.
Dragon the best Indicator
  • #8,278
  • Apr 17, 2010 8:45am Apr 17, 2010 8:45am
Quoting mg_vinodkuma
Hello all,

I am specially looking for swing fibo.Do you use this as indicator to draw fibo lines.I am totally new to this system,learned first few pages and got very much impressed.

Hey , sorry nobody answer to you yet.
Unfortunately I can't post a template for you.I don't know if it's my system or FF.
What you can do is scroll back the attachment icon from this thread and find an old template there.Switch to a weekly chart and scroll back in time so you can get all of them ! then just go down on a lower TFs gradually.
Another option is to do them yourself.It's a good exercise too.On the first page Bobokus has a video where he shows the whole process.

I think last time I post templates was around jan 09.
Let me know if you still need help!
  • #8,279
  • Apr 17, 2010 11:08am Apr 17, 2010 11:08am
Hello speedarad,

thanks very much for your reply.i will try to watch those videos and see whether i can build one.

Regards
Kumar
Dragon the best Indicator
  • #8,280
  • Edited 6:54pm Apr 17, 2010 5:34pm | Edited 6:54pm
Quoting mg_vinodkuma
Hello all,

I am specially looking for swing fibo.Do you use this as indicator to draw fibo lines.I am totally new to this system,learned first few pages and got very much impressed.
Hi there mg_vinodkuma.

Here is an up-to-date template for you. Look at the monthly timeframe to see all of them.

This is for the Euro, so open up a Euro chart and you'll see the major fib tools that we all use here.

In terms of getting used to placing these fib tools. Just scroll back through history on your charts and apply them. Take note of how price reacts around the levels, particularly the inner fib levels of long pivot and short.

Bo did some fantastic exercises early on in the thread to help practice placing them. Have a look at posts #814 and #1101. For some good exercises. There are a lot of great exercises that Bo laid out, but these two will get you started.
Attached File(s)
File Type: tpl fibo_bare.tpl   7 KB | 708 downloads
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