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My Fibonacci trading system

  • #681
  • Apr 29, 2010 11:56pm Apr 29, 2010 11:56pm
Quoting freedomsg
Trigger short at 1.0032. Sl at 10052 and TP at 1.0005 (61.8)
ok sth not related but well , hi fellow sg! ha
  • #682
  • Apr 30, 2010 12:36am Apr 30, 2010 12:36am
Quoting Gt3rs
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?
Hello Gt3rs,

Both methods are good and strong, this method is sometimes countertrend of daz method. I like to play m15 , H1, H4 so using both methods for these timeframes.. i have good success with both...

There is no difference between these methods, we need confirmations in both candles, yeah only in daz methods we follow 61.8. 78.6 and here we follow 38.2,61.8..
Major difference is only Risk & Reward.
  • #683
  • Apr 30, 2010 1:11am Apr 30, 2010 1:11am
Quoting yuan83
ok sth not related but well , hi fellow sg! ha
Hi Yuan83, I don't get you?
  • #684
  • Apr 30, 2010 3:16am Apr 30, 2010 3:16am
Quoting freedomsg
Hi Yuan83, I don't get you?
i m from sg also la
  • #685
  • Apr 30, 2010 8:07am Apr 30, 2010 8:07am
Quoting yuan83
i m from sg also la
oic , how is everything Yuan? Happy piping!
  • #686
  • Apr 30, 2010 8:23am Apr 30, 2010 8:23am
Quoting Pip26
Hello Gt3rs,

Both methods are good and strong, this method is sometimes countertrend of daz method. I like to play m15 , H1, H4 so using both methods for these timeframes.. i have good success with both...

There is no difference between these methods, we need confirmations in both candles, yeah only in daz methods we follow 61.8. 78.6 and here we follow 38.2,61.8..
Major difference is only Risk & Reward.
Hi Pip - thanks for that!

Attached chart showing PERFECT confluence of fibs on cable. Looking for confirmation candle and stoch hook.

Only thing is, it's Friday afternoon............... hmmmmmm.......
Attached Image (click to enlarge)
Click to Enlarge Name: cable 30-04-10.jpg Size: 102 KB
  • #687
  • Apr 30, 2010 8:34am Apr 30, 2010 8:34am
NICE!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: cable2 30-04-10.jpg Size: 102 KB
  • #688
  • Apr 30, 2010 8:42am Apr 30, 2010 8:42am
Quoting Gt3rs
Hi Pip - thanks for that!

Attached chart showing PERFECT confluence of fibs on cable. Looking for confirmation candle and stoch hook.

Only thing is, it's Friday afternoon............... hmmmmmm.......
Hi GT3rs, looking at the G7 indi, USD is below the 0 line. And GBP below the -1 line.... Am i right to say that?
  • #689
  • Apr 30, 2010 9:20am Apr 30, 2010 9:20am
Quoting freedomsg
Hi GT3rs, looking at the G7 indi, USD is below the 0 line. And GBP below the -1 line.... Am i right to say that?
Yes mate - I wasn't paying too much attention to the G7 indi tbh.

I was more interested in the reversal on the 4hr chart.

We have just had a reversal off the 61% level, so was combining that knowledge with this strat.

See 4hr chart below. Hope that explains it?!
Attached Image (click to enlarge)
Click to Enlarge Name: cable3 30-04-10.jpg Size: 84 KB
  • #690
  • Apr 30, 2010 9:28am Apr 30, 2010 9:28am
Quoting Gt3rs
Yes mate - I wasn't paying too much attention to the G7 indi tbh.

I was more interested in the reversal on the 4hr chart.

We have just had a reversal off the 61% level, so was combining that knowledge with this strat.

See 4hr chart below. Hope that explains it?!
Hi Mate, a picture tell a thousand words! Thank you for the explaination. Happy piping.... GU hit the 100% even though it is Friday....
  • #691
  • Apr 30, 2010 9:50am Apr 30, 2010 9:50am
Quoting freedomsg
Hi Mate, a picture tell a thousand words! Thank you for the explaination. Happy piping.... GU hit the 100% even though it is Friday....
No worries.

Looks interesting again - another confluence with a very bearish candle just spiking 61%. But I won't be trading it - I'm done for the week.
Attached Image (click to enlarge)
Click to Enlarge Name: cable3430-04-10.jpg Size: 100 KB
  • #692
  • Edited 10:13am Apr 30, 2010 10:12am | Edited 10:13am
Quoting Gt3rs
Yes mate - I wasn't paying too much attention to the G7 indi tbh.

I was more interested in the reversal on the 4hr chart.

We have just had a reversal off the 61% level, so was combining that knowledge with this strat.

See 4hr chart below. Hope that explains it?!
Hello Gt3rs,

you are really doing well with m15 confluences, keep it up and keep sharing your views.

Can you please tell me what MA's combination is on your chart?

Good Luck
  • #693
  • Apr 30, 2010 10:32am Apr 30, 2010 10:32am
Here is my chart for Gbp/Usd H4 confluence guys,

Hope everyone took this ride to downside.
Attached Image (click to enlarge)
Click to Enlarge Name: guconfluence.gif Size: 14 KB
  • #694
  • Apr 30, 2010 2:44pm Apr 30, 2010 2:44pm
Quoting Pip26
Here is my chart for Gbp/Usd H4 confluence guys,

Hope everyone took this ride to downside.

hello Pip26,

thanks for sharing us in your trades.
please show in your chart when did you enter to trade and where you
put SL?
what was your reasons to enter this trade?

have a good weekend

zada
  • #695
  • Apr 30, 2010 4:24pm Apr 30, 2010 4:24pm
Quoting Pip26
Hello Gt3rs,

you are really doing well with m15 confluences, keep it up and keep sharing your views.

Can you please tell me what MA's combination is on your chart?

Good Luck
Hi m8!

Cheers! Been enjoying looking at this strategy. The confluence on the 15min was AMAZING!! Price was heading down and then had a sudden and very BIG retracement. Then stopped DEAD at the confluence fib level!!

I'll keep sharing - that way we can all learn - including me!!!

My moving averages are 10, 20 and 50 - all exponential.

This is what the institutional traders look at on higher timeframes [4hr and above].

I find them useful for gauging trend [all ma pointing in same direction and good separation] and spotting likely areas for pullbacks to reach [put them on your charts and see how often price likes to retrace to one of those moving averages for a quick touch before continuing].

Happy hunting everyone.

Bank holiday here in the UK on Monday, and Mondays have been DIRE for the last few months, so I probably won't be trading until Tues.

No doubt will still be sat in front of the charts tho!!!

Have a good weekend.

GT3RS
  • #696
  • May 1, 2010 6:10am May 1, 2010 6:10am
Quoting zada
hello Pip26,

thanks for sharing us in your trades.
please show in your chart when did you enter to trade and where you
put SL?
what was your reasons to enter this trade?

have a good weekend

zada
That was previous Resistence near 61.8 level(1.5354), so for me it was good for short.
I entered at 61.8 stop loss is 10pips above 78.6 (1.5432)
and my target is 1st TP 1.5268 2nd TP 1.5210
  • #697
  • May 1, 2010 6:12am May 1, 2010 6:12am
Quoting Gt3rs
Hi m8!

Cheers! Been enjoying looking at this strategy. The confluence on the 15min was AMAZING!! Price was heading down and then had a sudden and very BIG retracement. Then stopped DEAD at the confluence fib level!!

I'll keep sharing - that way we can all learn - including me!!!

My moving averages are 10, 20 and 50 - all exponential.

This is what the institutional traders look at on higher timeframes [4hr and above].

I find them useful for gauging trend [all ma pointing in same direction and good separation] and spotting likely areas for pullbacks...
Thanx for your explanation mate......

GooD LuCk
  • #698
  • May 1, 2010 7:19am May 1, 2010 7:19am
After few realy bad positions and i can call that realy bad loosing streak im back in the game again with yesterday +110pips...
i will show u GBP-USD.... yes i know that i could take much more on the last position , but after bad streak i was satisfied with 25 and close... This is not Fibo entries and exits this is just on volumes.... Cheers
http://www.forexfactory.com/%3Ca%20h...80_6c9f5f6.jpghttp://pic0.picsorlinks.com/ph_or_17180_6c9f5f6.jpg
  • #699
  • May 1, 2010 11:37am May 1, 2010 11:37am
Quoting freedomsg
oic , how is everything Yuan? Happy piping!

hahah i m still a learner. wad about u? trading live? doing gd with this system? n just to ask, did u pay for any courses?
  • #700
  • May 1, 2010 12:06pm May 1, 2010 12:06pm
I dont say i dont believe i Fibo and Fibo numbers, i belive basicly, but we have other things, market dont move as we want, so market move like big players want... so u think that always price will hit 61.8 and go back???? i think no.... and i think that we all are vitneces that this is alredy happening... we put pennding order on 61.8 and sl to 76.4 and few pips above 76.4 , and whats happening... price hit that level and go back.. so we need other system to protect us against big players... i read one book, in witch author say, that market is made to big players get more money, so i believe in that, statistics show that, only 5% traders can earn money, so he got a point... and basicly we cant move market , we cant move market even all traders in the world go in same position , we dont have money like two big players, so we need to follow them... thats why systems work only two or five months, becouse they have a analists that stady evry system and its stupid to think that they dont have time to study stupid systems, they have time, becouse they cant earn money if we dont loose money... think about this and evry time when u want to go in position think twice to go in the same... believe me... so, i dont want to tell u dont use fibo, use fibo guys, becouse fibo is great, but use volumes to avoid potential bad signals and positions... Cheers
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