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Fibonacci Paradise

  • #461
  • May 20, 2010 7:09pm May 20, 2010 7:09pm
Lets look at it mate and riddle it out! Two weeks tisnt a bad run at all!I wouldnt trade anyone else charts either though. I am not trade EU myself but i noticed it.

TK
  • #462
  • May 20, 2010 7:14pm May 20, 2010 7:14pm
A Easy peezy 100 pips to be had on GY as well atm it appears.

TK

EDIT: I just got a mac and it was a slap to the chops to have to buyMr Gates windows AGAIN to muck around with mt4 Charts.
  • #463
  • May 20, 2010 7:17pm May 20, 2010 7:17pm
Quoting ThomKnight
Lets look at it mate and riddle it out! Two weeks tisnt a bad run at all!I wouldnt trade anyone else charts either though. I am not trade EU myself but i noticed it.

TK
I actually have that exact fib on my chart. If we get a nice respecting pullback to the inners. I'll probably jump in.

I noticed a couple weeks back you said something about a short you've had running for a while. Do you take longer term trades on a regular basis?

Any tips or pointers on taking those?

Bartstop
  • #464
  • May 20, 2010 7:36pm May 20, 2010 7:36pm
Quoting bartstop
I actually have that exact fib on my chart. If we get a nice respecting pullback to the inners. I'll probably jump in.

I noticed a couple weeks back you said something about a short you've had running for a while. Do you take longer term trades on a regular basis?

Any tips or pointers on taking those?

Bartstop

Well if I one... a longer term trade... I have to have a logical entry spot to get in...because i need to know i am the train at the right time...so not being subject to bazillion pip swings. . IE an ativated fib failing off of FIB sr on a retrace giving me a nice tight entry. into the move.

TK

Care to show the trade you biffed on?
  • #465
  • May 20, 2010 7:45pm May 20, 2010 7:45pm
Quoting ThomKnight
Care to show the trade you biffed on?
No problem. Up until this trade I had been concentrating on much smaller fibs. Say 10 candles max. At the very least I should have traded the break of the respecting candle.

I was getting too brave.


Bartstop
Attached Image (click to enlarge)
Click to Enlarge Name: eu loser.gif Size: 26 KB
  • #466
  • May 20, 2010 8:11pm May 20, 2010 8:11pm
Quoting bartstop
No problem. Up until this trade I had been concentrating on much smaller fibs. Say 10 candles max. At the very least I should have traded the break of the respecting candle.

I was getting too brave.


Bartstop

Rule of thumb on something like that for me mate... stop loss is top of candle and entry is break of bottom since there are no guarentees it will turn there... and as you saw in that fib... you got whiffed by a bigger fib.

TK
  • #467
  • May 20, 2010 8:19pm May 20, 2010 8:19pm
Quoting ThomKnight
Rule of thumb on something like that for me mate... stop loss is top of candle and entry is break of bottom since there are no guarentees it will turn there... and as you saw in that fib... you got whiffed by a bigger fib.

TK
If you look at that chart I posted, you'll see a red 0 line and a blue 0 line. Price had already pierced them both and had pulled back up. That to me is a bad place to be looking for shorts as price likes to run away from those 0 lines. I'll be watching for that in the future.


Bartstop
  • #468
  • May 20, 2010 8:50pm May 20, 2010 8:50pm
Quoting bartstop
If you look at that chart I posted, you'll see a red 0 line and a blue 0 line. Price had already pierced them both and had pulled back up. That to me is a bad place to be looking for shorts as price likes to run away from those 0 lines. I'll be watching for that in the future.


Bartstop

After my trades complete I will post them that might help might not mate. I rememeber starting to fib trade all the pit fals and pratfalls. I will try to address them if you have any q's


TK
  • #469
  • May 20, 2010 9:10pm May 20, 2010 9:10pm
Quoting ThomKnight
After my trades complete I will post them that might help might not mate. I rememeber starting to fib trade all the pit fals and pratfalls. I will try to address them if you have any q's


TK
Thom, post all you want. The more the merrier. Anything you are willing to teach we are willing to learn.
  • #470
  • May 20, 2010 9:17pm May 20, 2010 9:17pm
Is this the GY you are talking about Thom?
Attached Image (click to enlarge)
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  • #471
  • May 20, 2010 9:22pm May 20, 2010 9:22pm
Quoting Hush
Is this the GY you are talking about Thom?
Yessir that is one of them! Good Eye.
  • #472
  • May 20, 2010 10:34pm May 20, 2010 10:34pm
Doing a little scalping!
Attached Image (click to enlarge)
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  • #473
  • May 20, 2010 10:52pm May 20, 2010 10:52pm
a simple AU 30 min trade for aboot 80 pips or so ...it appear...APPEARS we have a tonne of up side to the dollar weakness side.


TK
Attached Image (click to enlarge)
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  • #474
  • May 20, 2010 11:04pm May 20, 2010 11:04pm
A not so simple EU trade already tirggered from the TP of the 61.8 posted earlier. I don't favour holding trades over weekends so we will see how far i get on this push.

TK
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
  • #475
  • May 21, 2010 4:02am May 21, 2010 4:02am
Quoting ThomKnight
a simple AU 30 min trade for aboot 80 pips or so ...it appear...APPEARS we have a tonne of up side to the dollar weakness side.


TK
This is setting up nicely, just bounced off the 38.
Keep smiling
  • #476
  • May 21, 2010 7:59am May 21, 2010 7:59am
EU 4hr. Are the bulls finished?
Attached Image (click to enlarge)
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  • #477
  • May 21, 2010 9:08am May 21, 2010 9:08am
I've balls'd my account up I know that much.

MD.
Keep smiling
  • #478
  • May 21, 2010 9:53am May 21, 2010 9:53am
Quoting Misterdaz
I've balls'd my account up I know that much.

MD.
Chuckle! What happened mate?


TK
  • #479
  • May 21, 2010 10:08am May 21, 2010 10:08am
Quoting bartstop
EU 4hr. Are the bulls finished?

A to the the tick hit for me over the past few years only means one thing... that move is finished it MIGHT signal a reversal but nothings for certain on that front. The one thing something like that taught me is that... trade the fib you are in since it isnt about pips ( for me).

The question or prevalent fear, if you will, when first starting... and often well into... skunny fib trading is that if you dont track every move some fib will step in a blast you off of your target forever. With experience you will find this happens very rarely and eventually you can filter it out.

I have EU till 1.29 ish. I am supremely confidant in that target. You have to trade your own charts though mate.

All the trades I posted look to complete today though which is bloody good as there is some port with my name on it. Last set of trades once the buggers complete will have doubled this account.

Cheers

TK

Edit: that being said... I am not greedy so I am closing them out here in a second to go enjoy the day and I am guilty of entering and exiting the fib a few times chuckle.
  • #480
  • May 21, 2010 10:19am May 21, 2010 10:19am
Quoting ThomKnight
Chuckle! What happened mate?


TK
I got too cocky and over egged my margin. As it turns out the fib I took it on is still allive. I'd be offside still but the 100 has not been breached on the other side. We must factor drawdown for our accounts.

I'd made 110% up until then. I gotta say my lot sizes have reduced slightly. Lol.

MD.
Keep smiling
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