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Fibonacci Paradise

  • #1,061
  • Jul 7, 2010 4:35am Jul 7, 2010 4:35am
Here's something I'm long on per Thom style if you like. This fib was on one of Thom's charts a few pages back, he may have had it at a slightly different point due to data. I got long half way up this fib last night with a stop about 5 pips below the 100, I still got stopped this morning. That is a s/l issue for another discussion. This fib is pierced and I have a 61.8 fit. I have re-entered near the lows, I plan to get my money back.

There is a completed fib if I use the backswing but I don't think that is what Thom is teaching. I could be wrong. This post may generate some replies I hope.

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Keep smiling
  • #1,062
  • Jul 7, 2010 4:37am Jul 7, 2010 4:37am
Good Morning

Thom and I are doing the same thing........

looking for inner fib respect, and a pierce for confirmation thats it !

I thoroughly enjoy his posts, learned alot.
  • #1,063
  • Jul 7, 2010 5:40am Jul 7, 2010 5:40am
It's been awhile since my last post but this fib stuff can be really confusing sometimes and then it can appear to be really easy. I placed a trade yesterday and lost 1/2 of my trading account which pissed me off but it was my fault. I had overleveraged my account. Then I placed another trade last night and went to bed and woke up this morning and made my losses back due to overleverging my account once again. It's interesting how all this stuff works. My problem with this fib stuff is sometimes my fib placement is wrong and many times I don't know why.
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  • #1,064
  • Jul 7, 2010 5:47am Jul 7, 2010 5:47am
Quoting Checkz
[font=Georgia][size=3]It's been awhile since my last post but this fib stuff can be really confusing sometimes and then it can appear to be really easy. I placed a trade yesterday and lost 1/2 of my trading account which pissed me off but it was my fault. I had overleveraged my account. Then I placed another trade last night and went to bed and woke up this morning and made my losses back due to overleverging my account once again. It's interesting how all this stuff works. My problem with this fib stuff is sometimes my fib placement is wrong and...
If you have the right fib you will not lose. You must have the right fib though and that is the art.

I think the lesson for you Checkz is until you know you are right don't overleverage your account, infact I would not do that even if I knew I was 100% right.

I hope you are well other than that mate.

MD.
Keep smiling
  • #1,065
  • Jul 7, 2010 5:50am Jul 7, 2010 5:50am
Quoting Eggster
Good Morning

Thom and I are doing the same thing........

looking for inner fib respect, and a pierce for confirmation thats it !

I thoroughly enjoy his posts, learned alot.
From what I see Thom is using s/r forward from his pivot but you include previous as well? Am I right. Do I need to re-invent the wheel again. Lol.

MD.
Keep smiling
  • #1,066
  • Jul 7, 2010 5:55am Jul 7, 2010 5:55am
Quoting Misterdaz
If you have the right fib you will not lose. You must have the right fib though and that is the art.

I think the lesson for you Checkz is until you know you are right don't overleverage your account, infact I would not do that even if I knew I was 100% right.

I hope you are well other than that mate.

MD.
Yeah I knew I shouldn't do it but sometimes I get a little greedy.
  • #1,067
  • Jul 7, 2010 6:00am Jul 7, 2010 6:00am
"My problem with this fib stuff is sometimes my fib placement is wrong and many times I don't know why."

Search until you find out why, it will reveal everything you need to know.

wow i sound like confucious
  • #1,068
  • Jul 7, 2010 6:01am Jul 7, 2010 6:01am
Happily GY is playing ball according to my earlier fib. This swing also set up nicely.

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MD.
Keep smiling
  • #1,069
  • Jul 7, 2010 6:05am Jul 7, 2010 6:05am
Quoting Eggster
"My problem with this fib stuff is sometimes my fib placement is wrong and many times I don't know why."

Search until you find out why, it will reveal everything you need to know.

wow i sound like confucious
Thanks but can you share the secret to why sometimes fibs fail to reach there 1.382 target.
  • #1,070
  • Jul 7, 2010 6:36am Jul 7, 2010 6:36am
Easy they are many fibs cycles happening at the same time,
we have to tap into the ones that show the most respect.

At the same time being fully aware that there are always other bigger fibs "ruling" the little guys.


Mr.D

this would be a easy exit target, remember Skunny and Thom "take the closest target"

this lines up with your 38 or 62 (whatever you call it) at 132.23, so a high possibility of a bounce. How much we will see, but your money is in the bank.
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  • #1,071
  • Jul 7, 2010 6:48am Jul 7, 2010 6:48am
Yes Thom looks for the nearest target, not always the 138 I believe. If you know you are right then winning is all that matters. 3 pips is as good as 100 depending on your account I suppose.

I suppose with experience this becomes second nature. Like Thom do you rarely lose Eggster?

MD.
Keep smiling
  • #1,072
  • Jul 7, 2010 7:07am Jul 7, 2010 7:07am
"do you rarely lose Eggster?"

WOW, well I have a beautiful wife and 3 wonderful children, made a million before I was 30......... then along came trading.....


The first year.. Blew a couple of accounts, sold my fantastic house, if you can call that losing.. I like to refer to it as a learning experience.

I do lose when I lose faith in my fibs... but they are right I am wrong.

I am not were Thom is yet, I am working on my mental game
  • #1,073
  • Jul 7, 2010 7:27am Jul 7, 2010 7:27am
This is where I have problems. How do you know which one is right? The first one has no 61 respect (blue) but seems correct because of the 138 rejection. But, by the time that happens it's too late to trade it. The second one is a 61-pierce-50 but appears to be headed towards failure.


EDIT: Sorry the white fib is upside down. I have to mention it before some limey bastard bust my balls for it.
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  • #1,074
  • Jul 7, 2010 7:42am Jul 7, 2010 7:42am
Your white fib is .......oh, damn!
Keep smiling
  • #1,075
  • Jul 7, 2010 7:50am Jul 7, 2010 7:50am
Quoting Misterdaz
Your white fib is .......oh, damn!

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  • #1,076
  • Jul 7, 2010 7:55am Jul 7, 2010 7:55am
You have to go 1 bigger and better don't you!

MD.
Keep smiling
  • #1,077
  • Jul 7, 2010 7:57am Jul 7, 2010 7:57am
I'm still long, looking at this fib now. Greedy eh?

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The Limey.
Keep smiling
  • #1,078
  • Jul 7, 2010 7:57am Jul 7, 2010 7:57am
Quoting Misterdaz
You have to go 1 bigger and better don't you!

MD.
It's the american way. Bigger is better.
  • #1,079
  • Jul 7, 2010 8:02am Jul 7, 2010 8:02am
Quoting bartstop
It's the american way. Bigger is better.
With one exception.
Attached Image
  • #1,080
  • Edited 8:37am Jul 7, 2010 8:15am | Edited 8:37am
This 30min might hold me up.

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MD.

Edit: 30 min just pierced.
Keep smiling
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