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Simple & Consistent Fibbing Method

  • #901
  • Apr 13, 2010 11:12am Apr 13, 2010 11:12am
Quoting djhex
chatroom has been dead for a while where is everyone
hehe - I was there for Monday but no-one really said anything! Mind you, I didn't see any valid trades for the method on Monday - Vark had 2 but I'm not sure what criteria he used for entry. and when - it would be helpful for an analysis - not that I'm pushing too hard.
  • #902
  • Apr 13, 2010 5:33pm Apr 13, 2010 5:33pm
When highs or lows aren't present on the time 15m tf, go to the next highest frame and the next that will put your 50% marker ahead of price. It is wise to mark three breaches up and three breaches down where price is at. This way you don't have to be fumbling when your fib was breached for the next level. Me and Simone is getting quite busy since we started teaching yall. The devil doesn't want you to learn because wants you broke. So he is trying to mess in our lives. But with prayer/warfare he will be removed and we can return to our regularly scheduled broadcast.
A. Finesse Williams Making Millions One Pip At A Time!
  • #903
  • Apr 14, 2010 5:25am Apr 14, 2010 5:25am
Quoting scatat
hehe - I was there for Monday but no-one really said anything! Mind you, I didn't see any valid trades for the method on Monday - Vark had 2 but I'm not sure what criteria he used for entry. and when - it would be helpful for an analysis - not that I'm pushing too hard.
I closed those for +37 combined, so it was a quick scalp more than regular entries.
  • #904
  • Apr 14, 2010 5:41am Apr 14, 2010 5:41am
Quoting scatat
hehe - I was there for Monday but no-one really said anything! Mind you, I didn't see any valid trades for the method on Monday - Vark had 2 but I'm not sure what criteria he used for entry. and when - it would be helpful for an analysis - not that I'm pushing too hard.
Now-a-days have been busy at work so haven't been able to come to the chatroom regularly but I do look at the fibs in order to buy/sell.....50 fib is the most important fib for me......be it intraday or daily.....as far as Vark's entries are concerned well everyone of us has been reading Simoneg's PDF over and over again and watching her videos so everybodys understanding could be different while taking positions but the basics remain the same....everyone has different set of targets and stops in mind ....my suggestion would be to go thru the pdf thoroughly then try working on the demo for a bit ...... then only would you start understanding the criteria on your own even just my 0.01 cents
Raza
  • #905
  • Apr 14, 2010 7:17am Apr 14, 2010 7:17am
I am testing a sculping method within Simple Fib Method - using the 50% breach fib and intraday fibs. I am having difficulties setting and achieving 40-50+ pip targets, do not have full understanding and/or experience of the SFM yet, but I have been pretty consistent and successful in smaller sculps - 10-20 pips. While learning the Simple Fib Method, I will continue develping the rules for sculping and will post them as soon as they go through testing phase. My goal of course is to use SFM to full extent, as I really like it and really thankful for Simone (and aswilled) for teaching us. I would rather have 1 transaction for 50+ pips, than 5 10-pip-nail-biting-kicking-and-screaming sculps
  • #906
  • Apr 14, 2010 1:51pm Apr 14, 2010 1:51pm
Quoting Vark
I took a couple of trades late this morning today; I had a long on a 9:30 candle, but chickened out for a total of +12 pips,...
Well Vark you figured out the hardest part. The fractal/50% fib, that is used for entries. Now understand the bobokus fibs: the pivot tells you who's in control and who is about to be in control. The 80.9 and 61.8 is the resistance to the bulls. And the 38.2 and 19.1 levels is support for the bears. So when price crosses the pivot and closes, it forcasts the target that price is heading to.

Meaning, if its going down and crosses the 50% level and closes, price is targeting the -34 and -55 levels. If support at the 38.2 and 19.1 levels don't stop it. And for the bulls, if price is rising and crosses the pivot and closes, price is heading to the 134 and 155 levels if the resistance at the 61.8 and 80.9 levels won't hold.

I hope this helps. If not you can always PM me.
A. Finesse Williams Making Millions One Pip At A Time!
  • #907
  • Apr 14, 2010 1:55pm Apr 14, 2010 1:55pm
Quoting aswilled
Well Vark you figured out the hardest part. The fractal/50% fib, that is used for entries. Now understand the bobokus fibs: the pivot tells you who's in control and who is about to be in control. The 80.9 and 61.8 is the resistance to the bulls. And the 38.2 and 19.1 levels is support for the bears. So when price crosses the pivot and closes, it forcasts the target that price is heading to.

Meaning, if its going down and crosses the 50% level and closes, price is targeting the -34 and -55 levels. If support at the 38.2 and 19.1 levels don't stop...
Great Aswilled! Sounds like I no longer need to a vid on this!
Hero Traders Live to see their Accounts Die!
  • #908
  • Apr 14, 2010 2:03pm Apr 14, 2010 2:03pm
Quoting Vark
I am testing a sculping method within Simple Fib Method - using the 50% breach fib and intraday fibs. I am having difficulties setting and achieving 40-50+ pip targets, do not have full understanding and/or experience of the SFM yet, but I have been pretty consistent and successful in smaller sculps - 10-20 pips. While learning the Simple Fib Method, I will continue develping the rules for sculping and will post them as soon as they go through testing phase. My goal of course is to use SFM to full extent, as I really like it and really thankful...
Is anyone throwing away basic day trading rules for the SF Method? You have to know how to trade, using s/r, trendlines, chart patterns, candle formations, fundis and a feel for market sentiment, before you can ever take advantage of this method. It is not the Holy Grail. Its a tool people, that we use to print money. But you can't make it if you don't know nothing or very little about day/swing/position trading.
A. Finesse Williams Making Millions One Pip At A Time!
  • #909
  • Apr 14, 2010 2:05pm Apr 14, 2010 2:05pm
Quoting aswilled
Is anyone throwing away basic day trading rules for the SF Method? You have to know how to trade, using s/r, trendlines, chart patterns, candle formations, fundis and a feel for market sentiment, before you can ever take advantage of this method. It is not the Holy Grail. Its a tool people, that we use to print money. But you can't make it if you don't know nothing or very little about day/swing/position trading.
Hero Traders Live to see their Accounts Die!
  • #910
  • Apr 14, 2010 2:20pm Apr 14, 2010 2:20pm
Quoting aswilled
Is anyone throwing away basic day trading rules for the SF Method? You have to know how to trade, using s/r, trendlines, chart patterns, candle formations, fundis and a feel for market sentiment, before you can ever take advantage of this method. It is not the Holy Grail. Its a tool people, that we use to print money. But you can't make it if you don't know nothing or very little about day/swing/position trading.
That is what I meant by saying, that I am learning the method and sticking with it. I am not trying to invent anything here.
Now about the 61.8 resistance and 38.2 support. I understand, what major role they play in our effort to pick an entry. But are we talking about the daily fib (from the previous day, with targets for today) or the intraday fib, with interim targets, or both? I am not even getting into the s/r of the last move up or down .
Sorry Simone, I still think the video would help
well, I am off to read the manual...again...and again, and then some more
  • #911
  • Apr 14, 2010 4:00pm Apr 14, 2010 4:00pm
Quoting Vark
That is what I meant by saying, that I am learning the method and sticking with it. I am not trying to invent anything here.
Now about the 61.8 resistance and 38.2 support. I understand, what major role they play in our effort to pick an entry. But are we talking about the daily fib (from the previous day, with targets for today) or the intraday fib, with interim targets, or both? I am not even getting into the s/r of the last move up or down .
Sorry Simone, I still think the video would help
well, I am off to read the manual...again...and...
Just keep asking till I explain it correctly. That's what I'm here for. This rule applys to all fibs with them levels on it. And the same rule apply to all. How do you know which one to follow? You don't. Let the price tell you which ones (levels) that it is respecting/reacting to. And you act acoording. Don't used the levels for nothing but s/r. And you know all support turn into resistance and vise... And simone made a video on this already. I hope this helps. If not, I'm herer.
A. Finesse Williams Making Millions One Pip At A Time!
  • #912
  • Apr 14, 2010 6:01pm Apr 14, 2010 6:01pm
Can you answer my questions in previous post?

Quoting aswilled
Just keep asking till I explain it correctly. That's what I'm here for. This rule applys to all fibs with them levels on it. And the same rule apply to all. How do you know which one to follow? You don't. Let the price tell you which ones (levels) that it is respecting/reacting to. And you act acoording. Don't used the levels for nothing but s/r. And you know all support turn into resistance and vise... And simone made a video on this already. I hope this helps. If not, I'm herer.
  • #913
  • Apr 14, 2010 6:54pm Apr 14, 2010 6:54pm
Quoting redart007
Can you answer my questions in previous post?
You are going to have to tell me the question. I don't know which post that you are referring to. If its the one about thre fractal fib I answered that.
A. Finesse Williams Making Millions One Pip At A Time!
  • #914
  • Apr 14, 2010 10:41pm Apr 14, 2010 10:41pm
Quoting aswilled
Just keep asking till I explain it correctly. That's what I'm here for. This rule applys to all fibs with them levels on it. And the same rule apply to all. How do you know which one to follow? You don't. Let the price tell you which ones (levels) that it is respecting/reacting to. And you act acoording. Don't used the levels for nothing but s/r. And you know all support turn into resistance and vise... And simone made a video on this already. I hope this helps. If not, I'm herer.
yep, it does help, thanks. My mistake was, that I was taking everything mechanicly: fibbing previous swing, 50% breached - let's go! I started paying attention to the levels of the last major move - if we are close to those, not to take a trade until we breach those, or lower TP in case we bounce of those.
Now I gotta take into account where exactly are we in regards to previous day and intraday fibs...
Practice makes perfect
  • #915
  • Apr 14, 2010 11:14pm Apr 14, 2010 11:14pm
At this midnight (est) junction, price is showing resistance to the daily 61.8@5137 level. And it made a false break on the top trendline of the trend it has been climbing all week. I predicted 5500 target at the top of the week. Week targets are met with weekly T2@5526. As the week is grinding down and we are in mid month, price has surpass last month's high, and is half way to the monthly T1 of 5586. Where I mentioned at the beginning of the week how this is strong resistance. So expect a pull back or shooting star. Price made it above the yearly pivot and is half way to its 61.8 resistance @5699. If we are not stopped here or the 80.9 level @6361, we will be in the 8000 by september. If yearly targets aren't met by turkey day... :nerd:

http://img11.imageshack.us/img11/8858/cmcapture1h.jpg

http://img411.imageshack.us/img411/9850/cmcapture3l.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #916
  • Apr 14, 2010 11:28pm Apr 14, 2010 11:28pm
Quoting Vark
yep, it does help, thanks. My mistake was, that I was taking everything mechanicly: fibbing previous swing, 50% breached - let's go! I started paying attention to the levels of the last major move - if we are close to those, not to take a trade until we breach those, or lower TP in case we bounce of those.
Now I gotta take into account where exactly are we in regards to previous day and intraday fibs...
Practice makes perfect
Good to hear. I can't say which fib level to respect. But I know the ones that converge... And you know what convergence does to price. Try and find the levels that converge with S/R first. Then trend lines, etc. All of these, along with the natural S/R like the figure, 80, 20, 50, is considered support and resistance. The past always reflect the future in trading. Why? Same people trading the same way with the same currency everyday.

thats just trading. Now, for sfm you have to reread and rewatch the learning tools until you can teach it. If you can't teach it at the end of the page/video, you missed something. Go to your chart and start trading what you know and you will quickly discover what you've missed. Go back to the materials and find it, trade, find it, trade, find it, then start printing money.

Yes practice makes perfect as in all things. And remember, this is called the simple fibbing method, lets keep it simple peoples. Because it is. :nerd:
A. Finesse Williams Making Millions One Pip At A Time!
  • #917
  • Apr 15, 2010 2:32am Apr 15, 2010 2:32am
i hope you guys were in for the ride on GJ i didn't catch perfect entry at 145.00 but i caught it at 144.67 with TP @ 144.10 looks like it hit a wall at 144. now for the retrace
  • #918
  • Apr 15, 2010 2:39am Apr 15, 2010 2:39am
Hello Vark, Aswilled
You asked the right questions, Vark. Same problems. The answers from Aswilled make it much clearer.
Sometimes the price speeds up throught the 50%, and not always is a candleclosure above
the 50% a guarantee that it will rise further up. Than its is curling around the 50%, changing support and resistance, or turns all of a sudden.When is passes the 80.9 do you hold until the target is reached or take profit before?. Say for instance 10 pips.

What helps me in learning is replay the day with a fx trading simulator. It’s more vivid than studying the passed day chart.
Predicting the future mirroring the past stays tricky.
  • #919
  • Apr 15, 2010 5:43am Apr 15, 2010 5:43am
Sorry in Post #898

Quoting aswilled
You are going to have to tell me the question. I don't know which post that you are referring to. If its the one about thre fractal fib I answered that.
  • #920
  • Apr 15, 2010 6:02am Apr 15, 2010 6:02am
Quoting djhex
i hope you guys were in for the ride on GJ i didn't catch perfect entry at 145.00 but i caught it at 144.67 with TP @ 144.10 looks like it hit a wall at 144. now for the retrace
That's the figure. 0.00, 0.50 is a natural line of s/r.
A. Finesse Williams Making Millions One Pip At A Time!
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