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Simple & Consistent Fibbing Method

  • #1,001
  • Apr 21, 2010 11:33am Apr 21, 2010 11:33am
Hi Simoneg.
We appreciate your time and effort explaining your system. Can you please tell me when exactly you stop adjusting your Fib A(Intraday Fib) to newer highs or lows? Somehow we need to stop readjusting it so we can reach our targets. I am little confused here.
Thank you
  • #1,002
  • Apr 21, 2010 11:56am Apr 21, 2010 11:56am
Quoting Jean36
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.
Hi Jean36,

The daily fib is only adjusted whenever its targets are achieved. The intraday fib is adjusted only based on 3 conditions. You may want to watch the video on adjusting the intraday fibs at the beginning of the thread.

Simoneg
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  • #1,003
  • Apr 21, 2010 12:01pm Apr 21, 2010 12:01pm
Quoting The7
Hi Simoneg.
We appreciate your time and effort explaining your system. Can you please tell me when exactly you stop adjusting your Fib A(Intraday Fib) to newer highs or lows? Somehow we need to stop readjusting it so we can reach our targets. I am little confused here.
Thank you
You are wlecome The7! You will always adjust the intraday fibs until the targets on the daily fib are acheived.

Keep in mind however, that you may have some situations where there is a strong trend and the market continues after achieving the daily targets. Therefore this situation would require that you continue to adjust the intraday fib. Remember also that the intraday fib is only for the current day.
Hope I have answered your question.

Simoneg
Hero Traders Live to see their Accounts Die!
  • #1,004
  • Apr 21, 2010 12:55pm Apr 21, 2010 12:55pm
Forgive my ignorance but i am really struggling here.
Lets say we are in an uptrend. We seeing new highs. So we adjust our intraday fib to these new highs. But how in earth do we reach our bull target if we keep adjusting the Fib?
Thanx again
  • #1,005
  • Apr 21, 2010 1:44pm Apr 21, 2010 1:44pm
Quoting The7
Forgive my ignorance but i am really struggling here.
Lets say we are in an uptrend. We seeing new highs. So we adjust our intraday fib to these new highs. But how in earth do we reach our bull target if we keep adjusting the Fib?
Thanx again

Hi The7,

Remember that the intraday fib shows interim targets toward an ultimate target...So the Ultimate target, as per your scenario, would be bull targets on the daily fib.
When the interim targets are achieved followed by pullback, as per the video in post#1, there is continuation.

Did you go through the pdf and videos?
Hero Traders Live to see their Accounts Die!
  • #1,006
  • Apr 21, 2010 1:53pm Apr 21, 2010 1:53pm
Quoting The7
Forgive my ignorance but i am really struggling here.
Lets say we are in an uptrend. We seeing new highs. So we adjust our intraday fib to these new highs. But how in earth do we reach our bull target if we keep adjusting the Fib?
Thanx again
If I got that right, our intraday fib shows our intermediate targets, the targets, that market is trying to reach down/or uptrending. We also have our targets for teh day (fibbed high-low from yesterday), our weekly, monthly, yearly targets, that we are ultimately trying to achieve. When we make an entry acording to the SFM rules, we set our TP at our intraday T1 or T2 (pending other factors - s/r lines, our daily targets and so on), if we continue trending in the same direction, we are looking for new entries according to the same entry rules. If we get those before our intraday targets are reached and/or before our intraday fib is adjusted, we are still targeting those T1 and T2. If we get entries further down the road after our intraday fib is adjusted, we will be targeting new targets, but our old targets will still be on our radar in forms of exit (TP) points. Obviously we can keep our trades open, aiming new targets, but remember, usually after targets are hit we have a pullback or a possible reversal, so make sure you get confirmation of the trend continuation first.
I hope I got that right.
  • #1,007
  • Apr 21, 2010 1:54pm Apr 21, 2010 1:54pm
Hope that was clear, both Vark and I are saying the same thing.
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  • #1,008
  • Apr 21, 2010 1:55pm Apr 21, 2010 1:55pm
Quoting simoneg
Hope that was clear, both Vark and I are saying the same thing.
I'm just a slow typer
how is your day going?
  • #1,009
  • Apr 21, 2010 1:58pm Apr 21, 2010 1:58pm
Quoting Vark
I'm just a slow typer
how is your day going?

Hi Vark,

Going great so far...resting today as usual...How goes yours?
Hero Traders Live to see their Accounts Die!
  • #1,010
  • Apr 21, 2010 2:12pm Apr 21, 2010 2:12pm
I took some questionable trades this morning both on EU and GU, so I am in a negative today. It was quite interesting on EU: I bought on "1-2-3 buy support" setup, but it was actually "1-2-3 sell resistance" first, that I didn't notice 2:45-6 am candles, I went long on 6:15 candle thinking 19.1 support, when it was 38.2 resistance
  • #1,011
  • Apr 21, 2010 2:30pm Apr 21, 2010 2:30pm
Quoting Vark
I took some questionable trades this morning both on EU and GU, so I am in a negative today. It was quite interesting on EU: I bought on "1-2-3 buy support" setup, but it was actually "1-2-3 sell resistance" first, that I didn't notice 2:45-6 am candles, I went long on 6:15 candle thinking 19.1 support, when it was 38.2 resistance
Sounds like today was a bit tricky! On days like this quick breakeven is a good friend.
Hero Traders Live to see their Accounts Die!
  • #1,012
  • Apr 21, 2010 3:06pm Apr 21, 2010 3:06pm
Quoting aswilled
The 10 DMA (day moving average) is a tool used by the banks and large institutions that drive the market. The last two times we touch it we reversed. Now, the 10 DMA period number "10" is only valid on the day chart. Any chart below that has to periodized to fit that time frame. This way all 10 DMAs on all time frames will be signaling at the same time. Because they will all have the same price. :
Dear Aswilled

I've only just tried using the 10 DMA - as a 240 SMA on the 1-Hour chart - works really well.

I used to use a 200 EMA as a general moving average, but the 240 SMA looks much more accurate.

Thank you so much for this great tip !

Best wishes

Loudoniii
  • #1,013
  • Apr 21, 2010 4:54pm Apr 21, 2010 4:54pm
Thank You Simoneg; your answer was very clear,and very usefull.
Looking forward to your next video. I realy appreciated your effort
in showing us thoses trategies
  • #1,014
  • Apr 21, 2010 9:47pm Apr 21, 2010 9:47pm
Quoting loudoniii
Dear Aswilled

I've only just tried using the 10 DMA - as a 240 SMA on the 1-Hour chart - works really well.

I used to use a 200 EMA as a general moving average, but the 240 SMA looks much more accurate.

Thank you so much for this great tip !

Best wishes

Loudoniii
Thanks. We have to trade as much in the secretive parameters of the pros who controls the market.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,015
  • Apr 21, 2010 10:04pm Apr 21, 2010 10:04pm
Quoting Vark
I took some questionable trades this morning both on EU and GU, so I am in a negative today. It was quite interesting on EU: I bought on "1-2-3 buy support" setup, but it was actually "1-2-3 sell resistance" first, that I didn't notice 2:45-6 am candles, I went long on 6:15 candle thinking 19.1 support, when it was 38.2 resistance
yes today was crazy with the news. Shows the influence of word of mouth. I was try this method in a scalping fashion because of the type of day it was. And I find that scalping doesn't really go with this method.
Though the method always allowed me to go green, choosing an exit (and remembering the potential targets) was difficult to have a prosperous day as usual.
And it required a lot of second guessing, ahhh...
I just don't like make this game harder than it already is.
Another thing that makes scalping hard is the pros don't scalp. They have too much currency to flow in one day/week/month/year. So they need to make trends happen to remain profitable.
One reason I like this method, because it shows the approximate (and most times precise) levels that the pros are trying to reach to do what they do.
The hardest thing I find with this method is telling when support will become resistence and vise...
But people, that's trading. The pros don't even know that. They just try and make it happen.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,016
  • Apr 21, 2010 11:20pm Apr 21, 2010 11:20pm
Can we have some more new videos Simone? Specially where you adjust your %50 fibs and/or intraday fibs.
Much appreciated
  • #1,017
  • Apr 21, 2010 11:55pm Apr 21, 2010 11:55pm
Quoting simoneg
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!
My reasonable service.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,018
  • Apr 22, 2010 12:09am Apr 22, 2010 12:09am
Quoting The7
Can we have some more new videos Simone? Specially where you adjust your %50 fibs and/or intraday fibs.
Much appreciated
I am planning to make one. I am presently talking to simone to hammer out the details according to the questions presented in this forum and the rules of trading.
I have to write it out and take some days of actual trading to record in real-time (if possible).
Until then, practice what you know, to learn what you don't, and read all and every peace of info on learning how to trade and being successful at it.
I was fortunate to learn from real traders that trade professionally. And they are still doing what I just advised, and so am I.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,019
  • Apr 22, 2010 7:47am Apr 22, 2010 7:47am
Quoting The7
Can we have some more new videos Simone? Specially where you adjust your %50 fibs and/or intraday fibs.
Much appreciated

Good Morning The7...coming very soon! Just trying to make the time to update the material and videos.
Hero Traders Live to see their Accounts Die!
  • #1,020
  • Apr 22, 2010 8:08am Apr 22, 2010 8:08am
Quoting aswilled
I am planning to make one. I am presently talking to simone to hammer out the details according to the questions presented in this forum and the rules of trading.
I have to write it out and take some days of actual trading to record in real-time (if possible).
Until then, practice what you know, to learn what you don't, and read all and every peace of info on learning how to trade and being successful at it.
I was fortunate to learn from real traders that trade professionally. And they are still doing what I just advised, and so am I.

Hi Aswilled,

Just saw your email!
Hero Traders Live to see their Accounts Die!
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