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Simple & Consistent Fibbing Method

  • #881
  • Apr 11, 2010 6:09am Apr 11, 2010 6:09am
Quoting aswilled
Forgot to mention, we failed to hit weekly targets.
Refers to madame simoneg document page 15 ...."whenever target are not achieved in a given week, they are usually achieved early to the following week ( Sun - Tues ), followed by massive reversal.
  • #882
  • Apr 11, 2010 6:14am Apr 11, 2010 6:14am
Quoting Itchy4Pips
My question is what is the difference between the two and how would I recognize one? Do they start off the same and somehow become one or the other? Sorry if my question is too basic but the concept is new to me.
You should take a look on

http://www.harmonictrader.com

there will you find an explanation of this pattern and some other tradepattern ...
  • #883
  • Apr 11, 2010 10:14am Apr 11, 2010 10:14am
Quoting Vark
Fantastic training session today! Thank you very much!

Looking at my trades today I have learned another thing: first of all, follow your own rules! I had 3 losing trades and 2 winning, one is still going on on EU. But on 2 of my losing trades the entry point was correct, my initial SL was 30-40 pips, but then I moved it up to 15-20 pips and got stopped out, and later in the day all my targets were hit, so when I setup the trade according to risk/reward ratio, I did everything right, and if I let the trades run, they would be in green. Conclusion?...
All of my losses while using this method has been from this exact/same reason. Its uncanny sometimes how this method prints money.
A. Finesse Williams Making Millions One Pip At A Time!
  • #884
  • Apr 11, 2010 10:28am Apr 11, 2010 10:28am
Quoting iqyusan
Refers to madame simoneg document page 15 ...."whenever target are not achieved in a given week, they are usually achieved early to the following week ( Sun - Tues ), followed by massive reversal.
That's why I needed to mention it. But this case will be unique. And I do think we have to bend the rules a lil. The market doesn't appear to be playing by these rules for a moment. Don't know how accurate me or anyone can be at this junction.
A. Finesse Williams Making Millions One Pip At A Time!
  • #885
  • Apr 11, 2010 1:12pm Apr 11, 2010 1:12pm
Hi Everyone,

I would like to point out that Gartleys and Butterflies are not a requirement for this method. Some persons have been combining the two, and I have just facilitated that so as not to choke creativity and improvising.

We continue to trade the Simple Fib Method, profitably because of its consistency. Some persons may see it fit to add moving averages etc.

So whatever the individual trader may choose to add, the method continues to be what it is.

So lets focus but not choke the tree!

Happy Trading!
Hero Traders Live to see their Accounts Die!
  • #886
  • Apr 11, 2010 4:21pm Apr 11, 2010 4:21pm
Quoting aftab
Current Weekly targets and daily targets the same - 1.5433.
Targets Met.
AFTAB Time Will Tell & Price Will Show
  • #887
  • Apr 11, 2010 10:01pm Apr 11, 2010 10:01pm
Quoting aftab
Targets Met.
Yes they were. That jump in pa is very bullish...
A. Finesse Williams Making Millions One Pip At A Time!
  • #888
  • Apr 12, 2010 1:16am Apr 12, 2010 1:16am
This trendline looks promising. look for price to touch its bottom before another attempt at the high.

http://img88.imageshack.us/img88/5230/cmcapture1.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #889
  • Apr 12, 2010 1:27am Apr 12, 2010 1:27am
And here we have our bounce and climb... :nerd:

http://img697.imageshack.us/img697/2889/cmcapture2y.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #890
  • Edited 4:20am Apr 12, 2010 3:09am | Edited 4:20am
EU buy 1.3607 TP 13685 SL 1.3567

SL moved to +10 free trade
  • #891
  • Apr 12, 2010 4:32am Apr 12, 2010 4:32am
Hi Simone

Wonderful method by the way. I think your precise style and approach is magnificent.

I do have a question about moving the Breach Fib when there is not available historical 15 min data to move the fib to.

Take GBP/USD this morning. We are at a high which we have not seen for many days/weeks. This means that if we go long, we don't have any past fractals/highs to move our Breach fib high to. What should we do in this instance?
  • #892
  • Apr 12, 2010 5:41am Apr 12, 2010 5:41am
Quoting scatat
Hi Simone

Wonderful method by the way. I think your precise style and approach is magnificent.

I do have a question about moving the Breach Fib when there is not available historical 15 min data to move the fib to.

Take GBP/USD this morning. We are at a high which we have not seen for many days/weeks. This means that if we go long, we don't have any past fractals/highs to move our Breach fib high to. What should we do in this instance?
I believe we zoom out as far as we need to - the previous high was on 4 am candle on February 23.
  • #893
  • Apr 12, 2010 6:03am Apr 12, 2010 6:03am
Good Morning Everyone,

Aswilled good to see you in these parts. Have a great day trading all!
Hero Traders Live to see their Accounts Die!
  • #894
  • Apr 12, 2010 7:27am Apr 12, 2010 7:27am
Daily bear target1 hit on EU
  • #895
  • Apr 12, 2010 7:47am Apr 12, 2010 7:47am
and GU
  • #896
  • Apr 12, 2010 7:52am Apr 12, 2010 7:52am
Wow Vark! Looks like much action going without me today. I am out for most of this week. Enjoy!
Hero Traders Live to see their Accounts Die!
  • #897
  • Apr 12, 2010 7:54am Apr 12, 2010 7:54am
Quoting aswilled
And here we have our bounce and climb... :nerd:

http://img697.imageshack.us/img697/2889/cmcapture2y.jpg
Beautiful Aswilled!
Hero Traders Live to see their Accounts Die!
  • #898
  • Apr 12, 2010 5:49pm Apr 12, 2010 5:49pm
Hi Simone,

Thanks for the thread and your efforts...

I'm confused by some of the reasons for picking high's as lows and setout in your your 3rd video 'How to use the 50% Fib - Part 2'?

What makes you pick that high as the reason to look for short? What if you picked any of the previous high/low...are they losers?....where are your stops?

Also in your first video you keep moving the high and low which I understand and then you dont talk about the entry but say the target at 1.34 and 1.55 are met?

Best regards

Red007
Attached Image (click to enlarge)
Click to Enlarge Name: 50fib.jpg Size: 89 KB
  • #899
  • Apr 13, 2010 2:08am Apr 13, 2010 2:08am
chatroom has been dead for a while where is everyone
  • #900
  • Apr 13, 2010 7:05am Apr 13, 2010 7:05am
I am there
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