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Simple & Consistent Fibbing Method

  • #981
  • Apr 20, 2010 8:35am Apr 20, 2010 8:35am
Quoting simoneg
Bagged profits and waiting! Dont like this zone! We can buy off here! I will wait for close below 1.5360, if any, for further selling.
exactly
  • #982
  • Apr 20, 2010 8:36am Apr 20, 2010 8:36am
did you close your shorts, or just moved SL?
  • #983
  • Apr 20, 2010 8:37am Apr 20, 2010 8:37am
Quoting Vark
did you close your shorts, or just moved SL?
Was silly and closed Vark!!! Nevertheless...1.5360
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  • #984
  • Apr 20, 2010 8:38am Apr 20, 2010 8:38am
profit is profit! I put a 5-pip trailing for now
trailing stop hit, I'm out 3 pips before my TP, but still +43
  • #985
  • Apr 20, 2010 8:40am Apr 20, 2010 8:40am
we are closing to a high of yesterday, which was tested 5 (!) times
  • #986
  • Apr 20, 2010 8:40am Apr 20, 2010 8:40am
Quoting Vark
profit is profit! I put a 5-pip trailing for now

Great!!! Yes certainly, watching this area now.
Hero Traders Live to see their Accounts Die!
  • #987
  • Apr 20, 2010 8:42am Apr 20, 2010 8:42am
Ok out for a few minutes, will see u at 12. Trade safely!!!
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  • #988
  • Apr 20, 2010 8:55am Apr 20, 2010 8:55am
Quoting simoneg
Ok out for a few minutes, will see u at 12. Trade safely!!!
I think I am out for the day - have some stuff to do +67 today. Will be back for learning and analysis. I wonder if the GU spike today was due to really positive news from GB. I had a tip, that if the news are good, GU will jump 40+ pips, didn't catch the move up, but capitalized on a pullback
Thank you!
  • #989
  • Apr 20, 2010 9:05am Apr 20, 2010 9:05am
Quoting Vark
I think I am out for the day - have some stuff to do +67 today. Will be back for learning and analysis. I wonder if the GU spike today was due to really positive news from GB. I had a tip, that if the news are good, GU will jump 40+ pips, didn't catch the move up, but capitalized on a pullback
Thank you!

Ok Vark! Maybe it for me too +50 and chilling! Take care!
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  • #990
  • Edited 3:25pm Apr 20, 2010 2:57pm | Edited 3:25pm
Dear Simone

Your SCFM trading system rocks !

I just discovered it this week, and have been demo trading USD/JPY, just to get into it.

I love the 50% Breach Fibo entries ..... your method of using Highs and Lows back in history seems to highlight some great entry levels.

Coupled with the Intraday Fib set to show Daily potential target zones, and Weekly Fib set to show a longer-timeframe perspective, SCFM is really easy to use but tremendously powerful !

I like the Bobokus-style Fibs. Since the Fib levels are symmetrical anyway, I use the following simple naming convention for the levels, which I find makes my charts less busy, so easier to read:

155%.... T2.... Target level 2
134%.... T1.... Target level 1
100%.... SP.... Swing Point
80.9%... RS.... Resistance / Support level
61.8%... DZ.... “Decision Zone” boundary
50%.... Pivot... Pivot level
38.2%.. .DZ..... “Decision Zone” boundary
19.1%... RS...... Resistance / Support level
0% ...... SP...... Swing Point
-34%.... T1...... Target level 1
-55%.... T2...... Target level 2

This draws the same regardless of whether you pull it High to Low or Low to High; your Target Zones are either Bull or Bear simply depending simply on whether they are at the upper or lower end.

I use the old Decision Zone Box drawing indicator to draw a light coloured box between 38.2% and 61.8% levels, including the critical 50% Pivot level. I find this makes it easier for me to see where things are happening in terms of price action.

I attach a copy of the DZ Box indicator if anyone wishes to use it ... just copy it to your Experts / Indicators folder in your MT4 folder in Program Files.

In the indicator, there is a Fib_Name parameter where you choose a Fibo name. Just name your chosen Fibo with that name - default is iFib1 - and it automatically draws a Decision Zone box between 38.2% and 61.8% Fibo levels, and changes it as you change your Fibo swing points. Box colour is also a parameter in the indicator.

Congratulations on the super job you've made of documenting SCFM here on Forex Factory, with your YouTube videos, and particularly the PDF which is very professional piece of work.

I can’t wait to start trading SCFM live … great job, keep up the good work !

Best wishes

Loudoniii
.
Attached Image (click to enlarge)
Click to Enlarge Name: SCFM post picture 3.png Size: 123 KB
Attached File(s)
File Type: mq4 DZ box 0.0.mq4   2 KB | 1,117 downloads
File Type: tpl sample usdjpy scfm picture template 2.tpl   5 KB | 693 downloads
  • #991
  • Apr 20, 2010 6:38pm Apr 20, 2010 6:38pm
Quoting loudoniii
Dear Simone

Your SCFM trading system rocks !

I just discovered it this week, and have been demo trading USD/JPY, just to get into it.

I love the 50% Breach Fibo entries ..... your method of using Highs and Lows back in history seems to highlight some great entry levels.

Coupled with the Intraday Fib set to show Daily potential target zones, and Weekly Fib set to show a longer-timeframe perspective, SCFM is really easy to use but tremendously powerful !

I like the Bobokus-style Fibs. Since the Fib levels are symmetrical anyway,...
I am so glad that you, and everyone else, like Vark, is getting this very easy method. Now yall are starting to see the ability to print money using SFM. The thing is you have to keep practicing and try anything that comes to your mind (that's within the parameters of SFM/trading rules).
This way you can know what works and what doesn't. I find sticking to the rules work. So when I say "try anything" this means to stick to SFM rules as oppose to basic trading rules.
Like what I am doing is trading without news. When I see crazy action I check the news to see why. But congrats to all. And praise and thanks to jesus and thanks to Simone. In her endless effort to make us rich. I have been in the securities game for a little while and what she is doing for free others charge thousands. Thanks Simone. And I shall pray the blessing on you if you don't already have it.
A. Finesse Williams Making Millions One Pip At A Time!
  • #992
  • Apr 21, 2010 12:15am Apr 21, 2010 12:15am
Price is trading @5361, trying to break the daily pivot of 5363. Which is also a breach level. I have two breaches to the down side at the daily 38.2% @5346, and the one below that is 5314.

Now the upside I have three breaches @5383, 5392, and 5404, respectively. Now dig it, the pound has a natural s/r at xx80 and one at the figure (5400). So keep that in mind.

I am conducting a study that I am going to need yall help on. I have been noticing that at midnight est. the pound sets in a direction and trades that direction until 3-4:30. In that window it changes direction until the us open. Where it finds a new direction. Now I don't know if this happens often and at what times of the year and news. But I figure with yall analysis included, we can come to see if its viable or not. We will have a check week by week, month by month, year by year. :nerd:
http://img62.imageshack.us/img62/616...pture1i.th.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #993
  • Apr 21, 2010 12:17am Apr 21, 2010 12:17am
http://img269.imageshack.us/img269/1901/cmcapture1d.jpg

Sorry but imageshack trying to give me some work... Oh, and 5380 is a strong level of resistance. You can place your longs at a close beyond that level.
A. Finesse Williams Making Millions One Pip At A Time!
  • #994
  • Apr 21, 2010 12:49am Apr 21, 2010 12:49am
Price has broken the resistance level @80 and the breach level @83. Next breach to the upside is 91.

http://img249.imageshack.us/img249/6246/cmcapture1b.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #995
  • Apr 21, 2010 1:02am Apr 21, 2010 1:02am
Price hit the 80.9 (daily) and pullback. Next breach level 5430 to the upside.

http://img42.imageshack.us/img42/5230/cmcapture1.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #996
  • Apr 21, 2010 1:14am Apr 21, 2010 1:14am
Price has given us a daily @5407 (daily 80.9) and blew through the intraday 80.9 and is now attempting to break the 5392 breach level. And I'm in the money again.

http://img138.imageshack.us/img138/9470/cmcapture1w.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #997
  • Apr 21, 2010 1:21am Apr 21, 2010 1:21am
Closed shorts at a small loss (due to trading against trend) with next session opening with a strong bullish candle. Shows bulls want to extend the hight. Have entry at 08 and i'm in the money. :nerd:

http://img36.imageshack.us/img36/6092/cmcapture2h.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #998
  • Apr 21, 2010 8:24am Apr 21, 2010 8:24am
Quoting loudoniii
Dear Simone

Your SCFM trading system rocks !

I just discovered it this week, and have been demo trading USD/JPY, just to get into it.

I love the 50% Breach Fibo entries ..... your method of using Highs and Lows back in history seems to highlight some great entry levels.

Coupled with the Intraday Fib set to show Daily potential target zones, and Weekly Fib set to show a longer-timeframe perspective, SCFM is really easy to use but tremendously powerful !

I like the Bobokus-style Fibs. Since the Fib levels are symmetrical anyway, I use the...
Hi loudoniii, I am glad to hear that you have found the method useful and easy to understand. Yes the 50% breach fib is the strength of the entries with this method. The platform I use is VT Trader, seems your indicator is for MT4. Will take a look at it anyhow.

Thanks again for your feedback! Much appreciated!

Simone
Hero Traders Live to see their Accounts Die!
  • #999
  • Apr 21, 2010 8:27am Apr 21, 2010 8:27am
Quoting aswilled
I am so glad that you, and everyone else, like Vark, is getting this very easy method. Now yall are starting to see the ability to print money using SFM. The thing is you have to keep practicing and try anything that comes to your mind (that's within the parameters of SFM/trading rules).
This way you can know what works and what doesn't. I find sticking to the rules work. So when I say "try anything" this means to stick to SFM rules as oppose to basic trading rules.
Like what I am doing is trading without news. When I see crazy action I check...

Aswilled, as always, thank you! You know that this did not get where it is without your help and support! And we know all knowledge comes from God!
I appreciate your prayers!
Many Blessings!
Hero Traders Live to see their Accounts Die!
  • #1,000
  • Apr 21, 2010 9:22am Apr 21, 2010 9:22am
Simoneg: when you have a new intraday hight and you adjust the intraday
fib, do you also adjust the daily fib at that high or do you
adjust the daily fib to a new daily hight.
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