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Attachments: Trend Following - A Complete Guide
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Trend Following - A Complete Guide

Quoting smikester
It has nothing to do with different price feeds. It's just plain wrong. Drawing fibs to fit a chart retracement is just barmy. I don't use fibs much, but there was no fib confluence there. Maybe a 50% rejection. 50% is not a fib level. So what?
Ok point taken, however... I wasn't saying that one should fit fibs to a way that suits them. I was merely saying that where he had drawn them was not completely out. The idea was correct but just a few candles late. In the grand scheme of things it is not as if he had drawn them half way down a move. He drew them from an area which was ok.

The 50% level is not a fibonacci ratio but it is included in the tool and used widely by many traders so does it really matter what you call it? It is an area where traders will look to for a reaction, that is enough for me.

I think the main problem is that you are looking for things to be too black and white when in fact my experience of trading is that it is not black and white as such. Price will react to levels on the chart but not necessarily to the exact pip, there will be noise around these levels, it is only natural. Buyers and sellers fight here. So sometimes an area is good enough as long as you look for or ice action to confirm.

I am sorry I do not want to cause arguments here, I am sorry that what I say doesn't sit well with you, but it works for me and has done for years. So if possible can we call it quits and agree ti disagree?

I hope you are not offended and continue to contribute if you want.

Thank you
Micardo:

You have great attitude!!! Highly appreciated.
Quoting Micardo
Ok point taken, however... I wasn't saying that one should fit fibs to a way that suits them. I was merely saying that where he had drawn them was not completely out. The idea was correct but just a few candles late. In the grand scheme of things it is not as if he had drawn them half way down a move. He drew them from an area which was ok.

The 50% level is not a fibonacci ratio but it is included in the tool and used widely by many traders so does it really matter what you call it? It is an area where traders will look to for a reaction, that...
Quoting smikester
It has nothing to do with different price feeds. It's just plain wrong. Drawing fibs to fit a chart retracement is just barmy. I don't use fibs much, but there was no fib confluence there. Maybe a 50% rejection. 50% is not a fib level. So what?
Hey dude, you have a very I'm Right/You are Wrong atitude here. If you don't agree with how someone draws their fibs you are free to inform them as to a better way. But to say they are 'plain wrong' and 'barmy' and use the phrase 'it is nothing to do with different price feeds' in a very dismissive manner is very negative and unhelpful way to feedback to people.
What FX California said
Quoting FX_California
Micardo:

You have great attitude!!! Highly appreciated.
Always Learning
Quoting stevexyg
Hey dude, you have a very I'm Right/You are Wrong atitude here. If you don't agree with how someone draws their fibs you are free to inform them as to a better way. But to say they are 'plain wrong' and 'barmy' and use the phrase 'it is nothing to do with different price feeds' in a very dismissive manner is very negative and unhelpful way to feedback to people.
I tried to be polite with my previous post but was met with "remember, forex is this that and the other.." nothing to do with my point. So I felt the need to put my point more bluntly. I don't expect people to take it personally and I never fall out with people on these boards.

The original poster asked if his chart was correct and I chose not to let a mistake pass because I was a learner once. It's tough losing money. Get it?

Good trading to you.
Gone to a better place
Blunt or rude? There is a difference. I hear what you are saying but you can put things in many ways and no matter how helpful you are trying to be you should try to avoid poo pooing peoples posts. People do take things said on here personally we are human afterall. Back to the trading - good luck back.
Quoting smikester
I tried to be polite with my previous post but was met with "remember, forex is this that and the other.." nothing to do with my point. So I felt the need to put my point more bluntly. I don't expect people to take it personally and I never fall out with people on these boards.

The original poster asked if his chart was correct and I chose not to let a mistake pass because I was a learner once. It's tough losing money. Get it?

Good trading to you.
I think it is just a big misunderstanding. Maybe you didn't realize how your posts come across. For example the post I have quoted, had it not been for the smile in the title, I would also have taken that as being rude... I believe it is your "Get it" or "so what" type comments that seem almost antagonistic.

Also I wasn't trying to give you a lesson on the history of Forex, I was merely building up to the reason why I do not believe that to the pip levels are important or logical considering the way the markets are set up.

In any case I see you were only trying to do things for the greater good and appreciate that.

I guess we are sensitive souls and need wrapping in cotton wool :-) So please continue to post, correct etc but maybe when doing it think about how your post maybe read, do you know what I mean?
Hi Every One,
Okay, let's not take offense to anything said here. We are all friends and members of the same pack of thick-skinned preditory wolves, looking for some pips to chew on. http://cdn.forexfactory.com/images/icons/icon7.gif
Quoting jerrycollie
Hi Every One,
Okay, let's not take offense to anything said here. We are all friends and members of the same pack of thick-skinned preditory wolves, looking for some pips to chew on. http://cdn.forexfactory.com/images/icons/icon7.gif
Aaaoooooo!
http://media.bigoo.ws/content/gif/an...nimals_258.gif
Quoting FXSurfer
Aaaoooooo!
Hi Surfer! It's been a while since I posted this but I think you knew I would. OK, sorry everyone :

Attached Image
Gone to a better place
Quoting smikester
Hi Surfer! It's been a while since I posted this but I think you knew I would. OK, sorry everyone :
I knew it! Damn it! Just when my scrotum was starting to feel better.

Nice contratrend buy setting up on EURCHF, good parallel and inverse, room to roam, bouncing off the channel, however currently in a long-term oscillating downtrend.
I love trading oscillations in the direction of the current long term trend because you never know when the pair is going to start trending again. Wait till this pair starts to drop again. It should be fun.



Quoting jmf0805
Nice contratrend buy setting up on EURCHF, good parallel and inverse, room to roam, bouncing off the channel, however currently in a long-term oscillating downtrend.
just read it all,interesting
Quoting Micardo
Hi Winston,

Yet another nice setup. However I was a little hesitant about shorting this pair and hence was waiting for complete confirmation before entering.

The reason I was hesitant is fundamentally I don't believe the Yen deserves to be as strong and what with the BOJ intervening last year, this pair needs to give me really good reason to short.

My 2 cents.





Micardo
Your 2 cents valuable. I exited trade just before ADP. Saved me a pantload.
Thanks Micardo.
Hobby Trader
Just a quick one guys, I will post charts later but I am looking at the following on the 4 hour.

USD/JPY
USD/CHF
NZD/USD
NZD/CAD
GBP/NZD
AUD/USD also setting up nicely for a bounce... major level of support.
Quoting smikester
Hi Surfer! It's been a while since I posted this but I think you knew I would. OK, sorry everyone :

Attachment 611014
A ha ha ha he he. Surfing on the roof - it's like jumping into what you think is a great trend only for it to reverse immediately and bite you in the ass - or kick you in the scrotum!
Just caught up to the entire thread. Now time to play a little bit...

Great thread guys, keep the learning material coming.
  • Post #180
  • Quote
  • Edited at 2:03am Jan 7, 2011 1:52am | Edited at 2:03am
http://www.youtube.com/watch?v=i3y-VKzpD2o


This is my attempt at marking the levels Micardo mentions in the posts above.

Here's the screen:
Attached Image (click to enlarge)
Click to Enlarge Name: micardo trend following 001.png Size: 126 KB
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