Fibonacci Paradise | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Are we living in a fool's paradise? 8 replies

Back From Paradise: Lessons to Learn 19 replies

fibonacci 4 replies

Attachments: Fibonacci Paradise
Exit Attachments

Fibonacci Paradise

  • #61
  • Apr 27, 2010 8:20am Apr 27, 2010 8:20am
Quoting Misterdaz
Apologies, I meant to thank you for your comments last night so, much appreciated, a couple more questions were resolved!

You don't get away with it that easy though. You once mentioned fib chaining. I have some ideas what this could be but I wondered if you would shed some light on it?

Thanks, MD.
Oy!

having been round the mountain and into the glen .. to turn a phrase.. i focused on all the fancy dancers... but I ended up mostly trading single candles D1 and h1 simple sets.

If you use the unifying principal of the 100% trade... why make it complex mate? The human brain wants to make things complex because complex ( a million indicators for example) must be better then simple ( a naked chart). I cry foul on that mate.

Fib chaining allows you to take a h1 fib perhaps and run it into a d1 target if your stars allign... or you run a move out far past one fib. They're are very profitable(but if you are patient no more profitable then take a few single trades) but these days those monkeys take more time and attention then I am willing to give the mkt.If one falls in my lap , i will grab her with both hands and take her to the dance though Show me your thoughts and i will give my input!

TK
  • #62
  • Apr 27, 2010 8:20am Apr 27, 2010 8:20am
Quoting Checkz
I think I pulled my fib right on the Aud/Usd 60 minute chart. Does it look right to you guys?
That has gotta be the clearest chart I have seen you draw...whoa hold, your fibs upside down. Right, you're banned.

It looks good though.

MD.
Keep smiling
  • #63
  • Apr 27, 2010 8:29am Apr 27, 2010 8:29am
Quoting bartstop
I'm with Thom on this one. 20 pips and out.

20 pips at $50/pip repeated a few times a week adds up in a hurry.

I have to admit it's hard to get past the greedy little red bastard sitting on your shoulder telling you to hold on to the bitter end.
as a pro ( whatever on gods green) that means... greed fades...in a sense..and you never get here (again whereever that is) by being greedy. So snip it now. Alot of chaps came to this thread ,erm, Skunny's thread because of instant overnight millionaire stardust in their peepers.

They would never be a franchise player with anything (the most amazing tool ever would not even help) because they have no patience and the only goal was find that magic A to B to C that allowed them to unleash bloody hell on the mkts and fully margin their book with impunity...
These set ups do exist...but you have to find your own and understand how this works... and really... only a right punter would redline their acct ever.

So cut the greed and you are half way there...perhaps once you get heavily into the swing and realize you can see trades everywhere all the time... greed will fade mate. You blokes are doing well and dare I say much better overall then what I have observed in the past years participants in Skunny's thread. Be patient keep yer chins up.

TK
  • #64
  • Apr 27, 2010 8:36am Apr 27, 2010 8:36am
Quoting ThomKnight
Oy!

having been round the mountain and into the glen .. to turn a phrase.. i focused on all the fancy dancers... but I ended up mostly trading single candles D1 and h1 simple sets.

If you use the unifying principal of the 100% trade... why make it complex mate? The human brain wants to make things complex because complex ( a million indicators for example) must be better then simple ( a naked chart). I cry foul on that mate.

Fib chaining allows you to take a h1 fib perhaps and run it into a d1 target if your stars allign... or you run a...
You know, we have already mentioned human nature has a habit of over egging the custard. I dont think I'll bother looking deeper into the fib chain thing. Why bother, I think we have enough to fill our boots with.

I learnt a great many things from your posts last night but one takeaway I took from it was, and please correct me if I am wrong, after the 61.8 fit you take the first zero pierce. I have always looked for a perfect inner pullback after the pierce, in effect getting in on the second zero break. I know you will say I must trade what suits me but it would be good to know that I could happily get in sooner and then maybe add to my position if a pullback transpires.

I've never been to up to Scotland, the lochs look breathtaking and I'm a keen fisherman, I really must go one day.

Och eye..MD.
Keep smiling
  • #65
  • Apr 27, 2010 8:46am Apr 27, 2010 8:46am
"but I ended up mostly trading single candles D1 and h1 simple sets."

Was this another breadcrumb Thom or just a musing?

MD.
Keep smiling
  • #66
  • Apr 27, 2010 9:57am Apr 27, 2010 9:57am
Quoting Misterdaz
You know, we have already mentioned human nature has a habit of over egging the custard. I dont think I'll bother looking deeper into the fib chain thing. Why bother, I think we have enough to fill our boots with.

I learnt a great many things from your posts last night but one takeaway I took from it was, and please correct me if I am wrong, after the 61.8 fit you take the first zero pierce. I have always looked for a perfect inner pullback after the pierce, in effect getting in on the second zero break. I know you will say I must trade what suits...
Yes you ahve to do what suits you the best. It is based on how much drawdown you are cozy with mate. something to also look for a horse of a different colour... if you for fit the 61.8 after setting the anchor... and it cleanly in one fell swoop pierces those are normally fast tp's so drawdown isnt that much of an issue.. just a little gem these old eyes have picked up.

You can take the first pierce and then if it retraces take it again. the pierce after a valid fib sets target... from there it is on you mate.

TK
  • #67
  • Apr 27, 2010 9:59am Apr 27, 2010 9:59am
Quoting Misterdaz
"but I ended up mostly trading single candles D1 and h1 simple sets."

Was this another breadcrumb Thom or just a musing?

MD.
hat is just how i personally trade these days. D1 candles not in any way i have seen here as of yet or h1 sets as we are doing here... mostly for the sake of time h1 is preferrable.

there are tons of ways to use the skunny fib once you know how it ticks. You will find you favorite that suits your personal tolerances...i am crochety and don't like complications or being in a trade for 1232523 hours.

TK

TK
  • #68
  • Apr 27, 2010 10:17am Apr 27, 2010 10:17am
I just picked up a few pips on this. Price isn't swinging back on pullbacks in the inner fibs levels but the respect is perfect. Would you consider this a valid setup or do you like price to "swing" back at the inner fib levels. Pictures are worth a thousand words eh?

Attached Image (click to enlarge)
Click to Enlarge Name: gy270410b.png Size: 9 KB


P.S If I zoom into a 15 min, there is a swing.

MD.
Keep smiling
  • #69
  • Apr 27, 2010 10:22am Apr 27, 2010 10:22am
I think BarTstop is crotchety as well...
Keep smiling
  • #70
  • Apr 27, 2010 10:52am Apr 27, 2010 10:52am
Do you see that Skong? First he was sending me X's now he's talking about my crotch.
  • #71
  • Apr 27, 2010 10:59am Apr 27, 2010 10:59am
You've been quiet. I made 6.7% today.

Eat my shorts, Bartman!

MD.
Keep smiling
  • #72
  • Apr 27, 2010 11:01am Apr 27, 2010 11:01am
Quoting Misterdaz
I just picked up a few pips on this. Price isn't swinging back on pullbacks in the inner fibs levels but the respect is perfect. Would you consider this a valid setup or do you like price to "swing" back at the inner fib levels. Pictures are worth a thousand words eh?

Attachment

P.S If I zoom into a 15 min, there is a swing.

MD.
100....38... candle boxed in between the 38 and 61.8... bang up! Respect of you fib is a very good indi as to the lay of the land. also a side note... look at the steep downward angle of price momentum... a good fast move.

TK
  • #73
  • Apr 27, 2010 11:02am Apr 27, 2010 11:02am
Quoting Misterdaz
You've been quiet. I made 6.7% today.

Eat my shorts, Bartman!

MD.
Now that you said that, you're next trade will be a loser and take out half of that profit.
  • #74
  • Apr 27, 2010 11:04am Apr 27, 2010 11:04am
and I'm going home.

MD.
Keep smiling
  • #75
  • Apr 27, 2010 11:07am Apr 27, 2010 11:07am
Quoting ThomKnight
100....38... candle boxed in between the 38 and 61.8... bang up! Respect of you fib is a very good indi as to the lay of the land. also a side note... look at the steep downward angle of price momentum... a good fast move.

TK
EUR USD, next port of call 1.3078. Your 4 hour is looking good BarTstop.

Greece downgraded again by S&P.

MD.
Keep smiling
  • #76
  • Edited 11:33am Apr 27, 2010 11:19am | Edited 11:33am
Quoting Misterdaz
EUR USD, next port of call 1.3078. Your 4 hour is looking good BarTstop.

Greece downgraded again by S&P.

MD.
I'll be out before then. Keep an eye on 1.3108. Not only for fib reasons but BIG ROUND NUMBER reasons to.

Bartstop

EDIT: Sorry I forgot to post the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 3108.gif Size: 18 KB
  • #77
  • Apr 27, 2010 11:42am Apr 27, 2010 11:42am
Quoting bartstop
I'll be out before then. Keep an eye on 1.3108. Not only for fib reasons but BIG ROUND NUMBER reasons to.

Bartstop

EDIT: Sorry I forgot to post the chart.

very clear 61.8 EU portrait on the weekly gents. Hopefully you saw that..that was a weekly trade i would have taken if i wasnt in much earlier off of a bigger fib.

TK
  • #78
  • Apr 27, 2010 11:45am Apr 27, 2010 11:45am
Also on a monthly 138 from the record high we just signalled to 1.25 ...but i think we should go much much lower then that over time.


TK
  • #79
  • Apr 27, 2010 12:09pm Apr 27, 2010 12:09pm
Quoting ThomKnight
Also on a monthly 138 from the record high we just signalled to 1.25 ...but i think we should go much much lower then that over time.


TK
Thom, you lost me on that one. Can you post a chart?
  • #80
  • Apr 27, 2010 12:35pm Apr 27, 2010 12:35pm
Have you tried pulling a fib on a monthly so that the 138 on the top end rests on the 1.60 something high?
Keep smiling
0 traders viewing now