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Aboonacci System - for EUR/USD prediction

  • #621
  • Sep 27, 2010 9:04am Sep 27, 2010 9:04am
Quoting fxsense
1st Target reached. Closed half position for 50 pips.

So far... 50 (for earlier sell position) + 50 = 100 pips. !/2 position to be closed at 3530. Stop loss moved to at 3455.
Remaining 1/2 closed out for 10 pips.

Total for the day 110 pips.

There was a nice short @ 3475. Unfortunately I was away.

No complaints though. quite happy with what I have.
  • #622
  • Sep 27, 2010 9:04am Sep 27, 2010 9:04am
I have traded forex , spoos, stocks etc for last 25 yrs with various results. But this is the first time I feel like I have hit on a unique system.

People who have followed me on FF probably knows how I try to create most simple systems. Because life is already too complicated .

I am sure AB did not want his system traded this way. But look at the chart and see the arrows. Red are the the trades and green are how price stops exactly at certain fibo numbers.

I go long when when 38.2% is broken, target 76.4%( don,t want to be greedy looking for 100% ).

For short sell 61.8% target 23.6 %.

Hope AB will excuse me for showing how I trade this system since it may not be how it is supposed to be traded.
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  • #623
  • Sep 27, 2010 9:05am Sep 27, 2010 9:05am
Thanks for the encouragement Old Dog. I appreciate you're using candles to guide you, but others aren't, so I'm just trying to identify the simplest technique for this to work for me. If it's not simple, my brain fuses.
  • #624
  • Sep 27, 2010 9:07am Sep 27, 2010 9:07am
"117 Traders Viewing This Thread (46 are members) "

i've hardly seen any thread scoring that much...
  • #625
  • Sep 27, 2010 9:10am Sep 27, 2010 9:10am
This looks very interesting, gonna grap a cup of coffee then check it out
  • #626
  • Sep 27, 2010 9:10am Sep 27, 2010 9:10am
Not quite. I use the st tops and bottoms for close values in the calculator, 3506 last time.

Quoting judokamak
So you basicaly set reached target as new "close" ?
  • #627
  • Sep 27, 2010 9:12am Sep 27, 2010 9:12am
Quoting Sheumais
Thanks for the encouragement Old Dog. I appreciate you're using candles to guide you, but others aren't, so I'm just trying to identify the simplest technique for this to work for me. If it's not simple, my brain fuses.
May be you will find my trades interesting since we both seem to have short Fuses in our brain
  • #628
  • Sep 27, 2010 9:18am Sep 27, 2010 9:18am
Last trade is on its way to Target
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  • #629
  • Sep 27, 2010 9:29am Sep 27, 2010 9:29am
Thanks ES Trader, that looks simple enough for me.
  • #630
  • Sep 27, 2010 9:37am Sep 27, 2010 9:37am
Quoting aebab
Dear Traders,
I came to say hello . .But I am wondering why you are not paying attention to the rules ?! Euro has not finished its journey to 100% level of current phase and it has already passed 38.2% level.
there is a deep finality in his words and there are no if and buts.
he is 100 % sure of his system and hats off to aebab for sharing hours and hours of his hardword and creativity.
  • #631
  • Sep 27, 2010 9:39am Sep 27, 2010 9:39am
Quoting ES Trader
Last trade is on its way to Target
It doesn't hit 23.6 line it's just U-turn and hitting back up now,

I hope you already TP. Range bound PA, could go anywhere.

But according to the strategy EUR should hit 100%, which is

1.3534, let's see.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #632
  • Sep 27, 2010 9:52am Sep 27, 2010 9:52am
Yes. I did exit trade when I I saw it was turning around.

I usually have trailing stop and it got hit.
  • #633
  • Sep 27, 2010 9:56am Sep 27, 2010 9:56am
Skyzerfx,

One could go long when it came close to 38.5% and closed above .

What I like about the system is How price hits these Fibo numbers and stops or when it goes thru it seem to take off.

Incredible Indeed !!!.
  • #634
  • Sep 27, 2010 10:22am Sep 27, 2010 10:22am
Quoting ES Trader
I have traded forex , spoos, stocks etc for last 25 yrs with various results. But this is the first time I feel like I have hit on a unique system.
Snap! It is my quarter-century anniversary in the markets this year, too.

And, yes, this Old Dog may be learning a new trick or two... I can't tell you how refreshing it is to get these great new insights into something I have done for so long. I'm lovin' it!

BTW, thanks for the very simple interpretation of the system. Many ways to skin this cat indeed...

Best regards

Old Dog
  • #635
  • Sep 27, 2010 10:26am Sep 27, 2010 10:26am
I work closely with Luckylady and I think she has already pointed out how this strategy can be of huge benenfit to any existing strategies you may have.

You will see from the chart below that I used the Calculator to gain an entry well into the days trading.

I took the low of a candle and set a PO for the break upwards.

Shortly afterwards, I got a strong signal for one of my standard trades and took it. This was a slightly better entry than the Abonacci trade.

Normaly I would have closed out at what I thouht was a fairly decent SR point (the two highs an hour or so before my entry).

But because I was also testing this strategy, I went with a 50 pip SL on my trade and set the TP to where was suggested on the calculator. It just so happens that my TP was a few pips lower then the calculator.

As you can see, price hit it nicely, went through for another 8 or so pips and then reversed, giving a 50 and 41 pip trade.............

Great Job Bobi........ although I think you need to work on those 8 or so pips that I didn' get

Regards

Lee
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  • #636
  • Sep 27, 2010 10:44am Sep 27, 2010 10:44am
Quoting SkyzerFX
It doesn't hit 23.6 line it's just U-turn and hitting back up now,

I hope you already TP. Range bound PA, could go anywhere.

But according to the strategy EUR should hit 100%, which is

1.3534, let's see.
you appeared to always be looking for flaws...
The World As It Is Can Do With Your Positive Disposition
  • #637
  • Sep 27, 2010 10:46am Sep 27, 2010 10:46am
Quoting liberty71
you appeared to always be looking for flaws...
let the system do the talking.
  • #638
  • Sep 27, 2010 10:49am Sep 27, 2010 10:49am
Quoting Old_Dog
Damn fine work, my friend.

It must be in your blood. My mate Odiogo is Nigerian he is a bloody good trader too!

Best regards

Old Dog

thanks but i'm sure there others here who hav made more than that today with this strategy.
The World As It Is Can Do With Your Positive Disposition
  • #639
  • Sep 27, 2010 10:49am Sep 27, 2010 10:49am
Quoting stimpy
let the system do the talking.

hmmm...fair enough
The World As It Is Can Do With Your Positive Disposition
  • #640
  • Sep 27, 2010 11:27am Sep 27, 2010 11:27am
Quoting SkyzerFX
I'm appears to be looking for what I see. And what I see is whole

day LONG NONE of the Lines/Levels where respected! NONE! not even ones

Here show it to me. Never touch any lines..
Hey SFX,

Out of interst, may I ask what 'settings' (for want of a better word) you are looking at the candles through? All your candles seem to be the same size and the colours do not seem to match the movement.

I am only asking as I am relatively new to trading and have not seen this format before.

Also, in response to your post. If you follow steps two and three from the opening post, you will see far more lines being respected, in many cases (especially so where you have made points) its almost pip perfect.

You only appear to have the standard template on and have not followed steps 1,2 and 3 from the opening thread.

Not suggesting that this will fix anything, but it may fill some of those holes you are talking about.

Regards

Lee
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