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My Fibonacci trading system

  • #661
  • Apr 28, 2010 9:08am Apr 28, 2010 9:08am
hi pipo26,
you inspire me a lot with your trade setup and result.
am still learning the system and hope to start trading and posting my chat soon.
my question: do you have any particular time you look for trade setup?
thanks in advance.
it is better to miss than to loss pips
  • #662
  • Apr 28, 2010 9:39am Apr 28, 2010 9:39am
Quoting 2pips
hi pipo26,
you inspire me a lot with your trade setup and result.
am still learning the system and hope to start trading and posting my chat soon.
my question: do you have any particular time you look for trade setup?
thanks in advance.
Thanx 2pips but i m following wjqblog's method, he learnt me a lot thanx to him also....

there is not a confirm time about setups i just trade during london and us sessions.

I will really appreciate if someone start posting his/her setups on this thread....
  • #663
  • Apr 28, 2010 8:32pm Apr 28, 2010 8:32pm
hi,

care to share, how did u come about with the strong weak pair indicator? wad parameters do u use? thanks
  • #664
  • Apr 29, 2010 12:26am Apr 29, 2010 12:26am
Quoting yuan83
hi,

care to share, how did u come about with the strong weak pair indicator? wad parameters do u use? thanks
Read the starting posts of this thread..
  • #665
  • Apr 29, 2010 12:47am Apr 29, 2010 12:47am
hi pip26, thanks for your reply. please dont stop posting your chart because its very helpful.
it is better to miss than to loss pips
  • #666
  • Apr 29, 2010 12:56am Apr 29, 2010 12:56am
Quoting 2pips
hi pip26, thanks for your reply. please dont stop posting your chart because its very helpful.
I will keep posting friend, but this thread need more charts from other traders..
I am a learner too so more charts will be helpfull for all.
  • #667
  • Apr 29, 2010 5:03am Apr 29, 2010 5:03am
Hi, I am new to forex. Has been following this thread, very interesting.

When do I print the vertical line? I am confused over here. Is it when we find a strong / weak pair ? (above +1 and below -1).
Or print vertical when the strong / weak pair starts to converge?

Thanks wjqblog for sharing your method...
  • #668
  • Apr 29, 2010 5:49am Apr 29, 2010 5:49am
Trade setting up on the U/C pair. Patience is the game.
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 14 KB
  • #669
  • Apr 29, 2010 6:01am Apr 29, 2010 6:01am
Quoting freedomsg
Trade setting up on the U/C pair. Patience is the game.
Good friend keep watching it and also Cad/Jpy both on retracement now.

Good Luck
  • #670
  • Apr 29, 2010 6:20am Apr 29, 2010 6:20am
Trigger short at 1.0032. Sl at 10052 and TP at 1.0005 (61.8)
  • #671
  • Apr 29, 2010 6:36am Apr 29, 2010 6:36am
Quoting freedomsg
Trigger short at 1.0032. Sl at 10052 and TP at 1.0005 (61.8)
Got same friend and also cad/jpy...

GooD Luck
  • #672
  • Edited 7:31am Apr 29, 2010 6:41am | Edited 7:31am
Here are my charts
Usd/Cad Entry 1.0032 SL 1.0050 TP1 FE61.8 (0.9998) TP2 FE100.0 (0.9968)
Cad/Jpy Entry 93.72 SL 93.45 TP1 94.10 TP2 94.50
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad.PNG Size: 20 KB
Click to Enlarge Name: cadjpy.gif Size: 10 KB
  • #673
  • Apr 29, 2010 8:27am Apr 29, 2010 8:27am
I closed both trades on breakeven......
  • #674
  • Apr 29, 2010 8:36am Apr 29, 2010 8:36am
Quoting Pip26
I closed both trades on breakeven......
Break even is fine mate. That's better than 99% of people manage!!

OK I think I made sense of both strategies here [after reading the ENTIRE thread THREE times!!! lol]

Anyway, I watched CADJPY and USDCAD as well this morning, but the retracements didn't come far enough back for me.

I had my fibs in slightly a different place, but I noticed that even on your chart, price didn't actually touch the 38 level.

Look at the stoch as well. A bigger retracement to 38 or 61 would have made the stoch have a proper swing and reversal.....

Also notice the nasty price action on both these pairs on daily tf..............

But hey!? I'm new to this too, so don't place too much weight on what I say!!

For the guys using the fib confluence method - is there a preferred tf for this?

Thanks,

GT3RS
  • #675
  • Apr 29, 2010 8:47am Apr 29, 2010 8:47am
Quoting Gt3rs
Break even is fine mate. That's better than 99% of people manage!!

OK I think I made sense of both strategies here [after reading the ENTIRE thread THREE times!!! lol]

Anyway, I watched CADJPY and USDCAD as well this morning, but the retracements didn't come far enough back for me.

I had my fibs in slightly a different place, but I noticed that even on your chart, price didn't actually touch the 38 level.

Look at the stoch as well. A bigger retracement to 38 or 61 would have made the stoch have a proper swing and reversal.....

Also notice the...

You are right man, i really ignore that point while entering position i should wait for price to touch the 38.2 then we could have more power in these trades.

for confluence i use 15m, but mostly H1 with H4 with major waves to avoid whipsaws.

Hoping that you will also start posting your charts soon.

Good Luck
  • #676
  • Apr 29, 2010 9:06am Apr 29, 2010 9:06am
OK! Here's one!!
Attached Image (click to enlarge)
Click to Enlarge Name: cable 29-04-10.jpg Size: 104 KB
  • #677
  • Apr 29, 2010 9:32am Apr 29, 2010 9:32am
Closed at target 1 for 31 pips! I learned LONG ago NOT to be greedy!!
Attached Image (click to enlarge)
Click to Enlarge Name: cable2 29-04-10.jpg Size: 105 KB
  • #678
  • Apr 29, 2010 12:09pm Apr 29, 2010 12:09pm
Wow! Cable really motored up didn't it?

Reached 100 and 138 fib extensions.

I don't care though. I had my plan and I stuck to it. Happy with 31 pips. :-)
  • #679
  • Apr 29, 2010 12:15pm Apr 29, 2010 12:15pm
Quoting Gt3rs
Wow! Cable really motored up didn't it?

Reached 100 and 138 fib extensions.

I don't care though. I had my plan and I stuck to it. Happy with 31 pips. :-)
Yo friend atleast you are in profit......
  • #680
  • Apr 29, 2010 1:21pm Apr 29, 2010 1:21pm
Hi Pip!

I see you are also involved in the DazFX thread.

That and this method are very similar.

Are you trading both methods?

I guess the only differences are:

This method, we are on shorter tf, with a good way of easily identifying trend.

DaxFX method, obviously on 1hr tf and determining the trend is more discretionary.

What are your thoughts on the differences between the 2?
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