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My Fibonacci trading system

  • #841
  • May 10, 2010 10:47am May 10, 2010 10:47am
Actually it was a good confluenced. Fibo + trend Line for Sell.

But i missed it cos i placed sell limit order higher.

I will learned & improved from that.

Just now i enter eu long.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 32 KB
  • #842
  • May 10, 2010 11:07am May 10, 2010 11:07am
I just found another confluence.
See the Support turn Resistance.

Earlier if go long, its actually safer to wait the price breaking Trend Line + Resistent Level.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 33 KB
  • #843
  • May 10, 2010 11:17am May 10, 2010 11:17am
.
Attached Image (click to enlarge)
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  • #844
  • May 10, 2010 11:57am May 10, 2010 11:57am
(*first of all forgive me, because my English is not so good, but i hope you get what i mean, cozz i need your help and advice, i ve lost lots amount of money on Fx market but i keep on goin till I find succees)

Hi,
Im quite new using fibo, but i belive this is what i'm looking for.
I ve read about the ABCD price pattern.

But, i have several question about using fibo.

1. I do we find or determind TREND? most of us says trend is UP, or trend is DOWN. Can anybody help me how to see what trend is right now? What should i look for?

2. Some fibo master told me to buy or sell at 61.8. My question is; how do i know / predict that there is enough support/ressistant show that? How do we predit it won't break and bounce?

I hope someone in this forum can help me.

Thank you very much for all ur support.

*Still learning, and still loosing money.
Psychology = Nature = Evolving Forex Market rite?
  • #845
  • May 10, 2010 8:16pm May 10, 2010 8:16pm
Hi,

1)How to determine a trend. There should be a series of higher high & higher low, or lower high & lower low. Think Waves.

There can be smaller waves in the big waves.

2) Always think of trading as a game of probabilility.
Every entry i ask ourself what's the probability of it winning?
  • #846
  • May 10, 2010 8:16pm May 10, 2010 8:16pm
Quoting Dr_Cryonic
(*first of all forgive me, because my English is not so good, but i hope you get what i mean, cozz i need your help and advice, i ve lost lots amount of money on Fx market but i keep on goin till I find succees)

Hi,
Im quite new using fibo, but i belive this is what i'm looking for.
I ve read about the ABCD price pattern.

But, i have several question about using fibo.

1. I do we find or determind TREND? most of us says trend is UP, or trend is DOWN. Can anybody help me how to see what trend is right now? What should i look for?

2. Some fibo...
i ve lost lots amount of money on Fx market but i keep on goin till I find succees. sounds like me but i believe the determining factor is ur psychology and lack of confidence in ur plan?

how to know trend. gd qn but if u ask me, this thread uses the strength indicator. which is prob enuff to know the strongest n the weakest. the trend can be easily determined with just a moving average line if u ask me. as for wad line is gd? i can't really tell u that though but well i like 20 and 50MA.

maybe u can consider round number at the fib level as stronger. also instead of blindly entering at a 61.8, i think it's gd to let the price go over it and comes back in ur direction to enter the trade
  • #847
  • May 10, 2010 10:10pm May 10, 2010 10:10pm
Quoting Pip26
.
almost prefect!!
Lazy Forex
  • #848
  • May 11, 2010 12:46am May 11, 2010 12:46am
Quoting Dr_Cryonic
(*first of all forgive me, because my English is not so good, but i hope you get what i mean, cozz i need your help and advice, i ve lost lots amount of money on Fx market but i keep on goin till I find succees)

Hi,
Im quite new using fibo, but i belive this is what i'm looking for.
I ve read about the ABCD price pattern.

But, i have several question about using fibo.

1. I do we find or determind TREND? most of us says trend is UP, or trend is DOWN. Can anybody help me how to see what trend is right now? What should i look for?

2. Some fibo...
Hello Dr. Cryonic,

To determine a trend direction you should look at higher time frames, like if you are trading m15 thn follow H1, H4 to determine trend and if you are using H1 then follow H4, D1 trends.

To determine trend different traders use different tools to find out. You can use some MA's but very simple and accurate way is to find out higher highes and higher lows / lower highes and lower lows. Also draw trend lines.

For M15 time frame trading main problem is to avoid bad signals and whipsaws for that you should be more confident on your method and perfect on it. Just stick with one method and keep practicing it.

For fibonacci we only look for retracements here with currency strength indicator, and we look for reversals for only 38.2, 61.8......
  • #849
  • May 11, 2010 3:45am May 11, 2010 3:45am
My Eur/Jpy trade for today... i m targetting FE 100.0 FE 161.8
Attached Image (click to enlarge)
Click to Enlarge Name: ejnewsetup.gif Size: 16 KB
  • #850
  • May 11, 2010 3:55am May 11, 2010 3:55am
2nd one
Attached Image (click to enlarge)
Click to Enlarge Name: eunewsetup.gif Size: 17 KB
  • #851
  • May 11, 2010 4:33am May 11, 2010 4:33am
Hi Pip26, Iv been trading this system very successfully for a month since iv found it and as you can see from my record there that i have had a total of 3 losses and 44 successful trades on demo of course...

im just wondering what your success rate is looking like and do you trade live??

srry im having trouble attaching the file...
  • #852
  • May 11, 2010 4:48am May 11, 2010 4:48am
Quoting Salty
Hi Pip26, Iv been trading this system very successfully for a month since iv found it and as you can see from my record there that i have had a total of 3 losses and 44 successful trades on demo of course...

im just wondering what your success rate is looking like and do you trade live??

srry im having trouble attaching the file...
Hello Salty,

This system is really good and it is all magic of fibonacci. If someone really knows how to handle price actions and how to avoid bad signals thn he/she can easily make good score with this system. I have really good success with it becoz its risk reward ratio is high. Yes i m trading it live.

Hope to see your charts on this thread.
  • #853
  • May 11, 2010 9:34am May 11, 2010 9:34am
Waiting for a retracemnt CAD/JPY
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  • #854
  • May 11, 2010 9:56am May 11, 2010 9:56am
Just now was a very good 'golden fibo' confluence.
38.2 overlap with 61.8 (i use 36.8/56.8)
Good to sell limit(pending order) for this.

Didn't notice it until it happen.
Cos i a bit tired trading whole day(already made some pips).
Anyway try not missed it in future.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 39 KB
  • #855
  • Edited 12:52pm May 11, 2010 12:27pm | Edited 12:52pm
After some battling trades i got good one...
These are not related to this method it is different..
Attached Image(s) (click to enlarge)
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  • #856
  • May 11, 2010 8:11pm May 11, 2010 8:11pm
Quoting Les Lau
Just now was a very good 'golden fibo' confluence.
38.2 overlap with 61.8 (i use 36.8/56.8)
Good to sell limit(pending order) for this.

Didn't notice it until it happen.
Cos i a bit tired trading whole day(already made some pips).
Anyway try not missed it in future.

u didnt use e strength indicator?
  • #857
  • May 11, 2010 8:33pm May 11, 2010 8:33pm
subscribing.
  • #858
  • May 11, 2010 11:56pm May 11, 2010 11:56pm
Tq 4 ur reply;

Pip26, Les Lau and Yuan83.

I hope can make lots of friends here.
Psychology = Nature = Evolving Forex Market rite?
  • #859
  • Edited 6:04am May 12, 2010 5:10am | Edited 6:04am
2 setups for today...

I did some greedy mistakes... I must mention it here for newbies,

Eur/usd:
Candles has breached 38.2 so i should wait for 61.8 retracement.

Eur/Jpy
Same like Eur/usd candle breached 38.2... should wait for 61.8.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej12.gif Size: 14 KB
Click to Enlarge Name: eu12.gif Size: 14 KB
  • #860
  • May 12, 2010 6:31am May 12, 2010 6:31am
Pip26, if you waited for 61.8 I dont believe that you would not have profited there. As I understand, 38.2 is just as good as 61.8 as an entry, plus you had the stochastic to confirm that.
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