Old Dog Fib Trading - EURUSD

First a thank you to Old Dog for graciously providing the formulas for a strategy he has been successfully trading for some time. The point of this thread, to develop that strategy for EURUSD and to see if it might be portable to other pairs.

The trading strategy has roots in Fibonacci and it not intended to be traded with other indicators.

Any introduction of other indicators that do not relate directly to the purest form of this trading approach will get you banned from posting on this thread. Any disrespectful commentary will get you banned from this thread. Generally being an ass and not making a positive contribution to the thread will get you banned. I'm taking a lead from Steve Hopwood's threads and will be ruthless about this!!!

Please read the above paragraph again.

The strategy relies on two pieces of data..a base level and a phase and then daily calculations for a variety of ways to enter and exit trades.

Indicator development presumes the use of FXPro as a broker. Discussions about broker times and differences due to different feeds will be deleted. Please download an FXPro demo. Here is Why - Post #91
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OLD DOG'S FORMULAS

D is the daily close and M is the midpoint of a fib calculation (more on that as the thread progresses)

0.6747 * D + 0.3280 * M
0.6743 * D + 0.3255 * M __________ 0.2502 * D + 0.751 * M
0.6735 * D + 0.3234 * M

0.3349 * D + 0.6745 * M
0.6676 * D + 0.3394 * M
0.3336 * D + 0.6696 * M
0.3519 * D + 0.6489 * M
0.6743 * D + 0.3255 * M
0.2966 * D + 0.6973 * M
0.3328 * D + 0.6632 * M
0.3286 * D + 0.6648 * M
0.3320 * D + 0.6585 * M

D is the "daily close" and M is the 50% fib level.

Remember : do BOTH multiplies first, THEN add results.
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Logical first steps:

1. Develop an indicator to identify the current daily Old Dog levels to trade
2. Collect the necessary indicators to identify fib levels for the chart
3. Work on a way to calculate the base
4. Work on a way to calculate the phase range See Post #38
5. Develop a variety of trading styles from this approach

I'll do my best to provide a summary to important links on this post.

For now there is one voucher required to post. That will be eventually removed. I can add you as a buddy if you need to post.

Now let's do something productive from the ashes of Abonacci. (EDIT - Abonacci resurrected from the ashes. Good luck to them!)

Background reading


Indicators
Squalou's indicator here
Guru's indicator here

Old Dog's Levels Calculator


EAs
http://www.forexfactory.com/showthre...63#post4073863

Cheers
CanuckCT

all right Canuck!!!!

We're in !!!

Thanks for that.


SQ

Reserved for future

Thanks you guys, signed up! About cosmetic idea for so many lines?

I think we could display those FIBO lines with very little color,

well depends on template of course.. And those Old_Dog lines

with more color, So FIBO lines should be kind of on the second plan

also make them very thin, that should work.

Moved to Platform Tech...does this matter?

Stimpy has been in touch with me and has indicated he wishes to help with the level and phase identification. Since his posting privileges are currently suspended he cannot post. Hopefully I can relay any relevant information.
Cheers
CanuckCT

hope we can keep this thread nice and clean

Thanks for accepting me, my idea is always to be able to add an end-filled glory. Hugs and let the fight

Buy at 1.3628, TP at 1.3660 - triggered and closed for +31
Buy at 1.3720, TP at 1.3745 - triggered and closed for +25
Sell at 1.3562, TP at 1.3533 (potential 29 pips)
Sell at 1.3527, TP at 1.3487 (potential 40 pips)

Ideally, the indicator would draw those lines that I have on my chart...by reading what phase we are in and using the NY close and doing the old dog calculations. My understanding of the phase is that it's whever the close is...that is the phase we are in. That interpretation is subject to change.

The squalou script was good...as it displays well on a white background and then the Old Dog trades could be Red for sell and Blue for buy with the TP lines in Green....all customizeable colors and a bit thicker lines.

Cheers
CanuckCT

I am interested in this thread and am intrigued with Old Dog's calculations here.
Thanks for starting the thread. Also, I am interested in what stimpy has to say here.

BTW in answer to Old Dog's statement that he is not a Guru; Remember the Buddha proverb, " If you meet the (Guru, my addition) Buddha on the road, kill him." I take that to mean there is no Guru. We are the only ones who experience our life and who ultimately must take responsibility for it. I thank Old Dog for posting his ideas here and for his humility. I gave him a vouch, based on his statement about his trading and from what I have read in his posts.

I would like to post my thanks in advance for starting a new clean thread for everyone to learn and share ideas together while developing the trading system into something even greater than it already appears to be.

It'll give it less visibility and fewer visits.
That may be good.

If you would like, a couple of us can appeal to Twee to move it back.

I don't know if it would do any good, but he might reconsider.

I have sent Twee a note..but you are right. Fewer visits probably good as we are still trying to sort things out. Matters not to me.
Cheers
CanuckCT

Thank you for starting this new thread!

I wish we can all help each other and become better traders.

Let us be respectful for the elderly and the more experienced traders.

Without that, we have no chance to move forward!


regards

fxtsun
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"And, in the end, the love you take is equal to the love you make." The Beatles

Indicator development - I would see the Big Dog calculations as one option and the Blue-White fib calculations as another option....maybe two separate indicators? Maybe someone could comment re how they have been using the blue/white fib combo...I have not. That may help squalou or others integrate that as an option in any indicator.
Cheers
CanuckCT

Hi folks...

Thanks for accepting me CanuckCT.

Hope we can learn something fruitful from experienced traders on this thread.

Folks, learn to appreciate others' ideas and opinion before throwing any comments...

Cheers !

I think this is a good thing that thread has been moved. IMHO

Hopefully we will have some indicator developed by end of sunday!!