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Powerful Fib Based System - by DAZfx

  • #2,301
  • Feb 24, 2011 9:30am Feb 24, 2011 9:30am
Quoting khalidhassan
I started learning forex 1 year ago , i tried many systems but this one is the best i had ever seen .
still working in demo account .
I have another demo account in my office PC, i made more than $24,000 using this account within less than 1 month.
I trade all pairs , i prefere 1h & 30m tf.
am looking for 10pips out of any trade i made(standard order),i never use fibo expansion and never wait for price to hit fibo-exp targets, as i said (hit & run) and thats why i prefere lower frames.
maybe when i get more [color=black][font=Verdana]experience...
Hi Khalidhassan,

what stoploss do you use? On your demo account there is none...
  • #2,302
  • Feb 25, 2011 6:27am Feb 25, 2011 6:27am
I never used stoploss , i know it is rong but maybe because am targeting just 10 pips per tarde.
  • #2,303
  • Feb 27, 2011 9:50am Feb 27, 2011 9:50am
You should use stop loss. One wrong trade without SL and you will wipe out profits from last 10 trades.
  • #2,304
  • Feb 27, 2011 11:06am Feb 27, 2011 11:06am
hello everyone, i do have a skype group called fx scalpers, if u wish my skype name is sami29uk

send me a request for adding contact then i'll add u to the group, everybody welcome, please note i'm in the london gmt zone.

see u
  • #2,305
  • Feb 27, 2011 9:32pm Feb 27, 2011 9:32pm
Good morning,

Glad to have visited this site. Thanks to the OP for this wonderful thread and sharing his system. Presently at page 40. enjoy the read so far. Below is a chart of EU 15M awaiting the cross of stoch. My first attempt with this system. Keeping my fingers crossed.
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  • #2,306
  • Feb 28, 2011 1:03am Feb 28, 2011 1:03am
My stoploss for 15M has been triggered. -25pips now. I didn't follow the rules. Well, it's no harm testing out this strategy. I guess 1H should be more reliable. ooking forward to my 1 hour setup which I hope would not be a disappointment too. Hehe.
Attached Image(s) (click to enlarge)
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  • #2,307
  • Feb 28, 2011 1:15am Feb 28, 2011 1:15am
Quoting jimisan
My stoploss for 15M has been triggered. -25pips now. I didn't follow the rules. Well, it's no harm testing out this strategy. I guess 1H should be more reliable. ooking forward to my 1 hour setup which I hope would not be a disappointment too. Hehe.
For my self am using 1H & 4H TF ,those are the best for me .
i think it is better to start drawing fibo from the candle just befor the one you started from ...

plz forgive my english....
  • #2,308
  • Feb 28, 2011 3:03am Feb 28, 2011 3:03am
Quoting khalidhassan
For my self am using 1H & 4H TF ,those are the best for me .
i think it is better to start drawing fibo from the candle just befor the one you started from ...

plz forgive my english....
Good evening KH,

I think Daz's method is more suitable for longer time frame. Nice to know that 1h and 4h is best timeframe.

Anyway, I guess your English is ok to me. Most important is I understand what you want to tell me. :-)

I'm new to drawing fibo, if I did it wrong....plse correct me. Thank you.
  • #2,309
  • Feb 28, 2011 5:39am Feb 28, 2011 5:39am
Looks like my previous 1H setup did not work out. Now looking forward to a new setup. I'm here to explore and learn, plse advise if I'm in the wrong path. Thanks.
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  • #2,310
  • Feb 28, 2011 5:55am Feb 28, 2011 5:55am
Quoting jimisan
Looks like my previous 1H setup did not work out. Now looking forward to a new setup. I'm here to explore and learn, plse advise if I'm in the wrong path. Thanks.
move to the higher frame (H4) check for a setup there...
  • #2,311
  • Feb 28, 2011 6:30am Feb 28, 2011 6:30am
Quoting khalidhassan
move to the higher frame (H4) check for a setup there...
KH, thank you for the pointer. Just wondering how do you trade using 4H timeframe. Using buy/sell limit?


Jimisan
  • #2,312
  • Feb 28, 2011 7:59am Feb 28, 2011 7:59am
Quoting jimisan
KH, thank you for the pointer. Just wondering how do you trade using 4H timeframe. Using buy/sell limit?


Jimisan
as the rules Retracement + Stochastic crosses + confirmation of the higher TF.
  • #2,313
  • Mar 1, 2011 6:47pm Mar 1, 2011 6:47pm
Good Morning,

My analysis of EU today. One impulse wave for ABC and another for abc. Which way will it go? Any comments are welcome.
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  • #2,314
  • Mar 2, 2011 1:50am Mar 2, 2011 1:50am
USDJPY - Daily
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  • #2,315
  • Mar 2, 2011 3:09am Mar 2, 2011 3:09am
Jimisan,

You don't wonder in which direction will it go, you simply have to identify the main trend, which is usually on 1 or 2 timeframes higher that the one you are looking at. Then you will know, where the price is going. I suggest you read through first 20 or so pages of this thread. If something is unclear, ask away.

Best,
Uros
  • #2,316
  • Mar 2, 2011 5:46am Mar 2, 2011 5:46am
Quoting bee24
Jimisan,

You don't wonder in which direction will it go, you simply have to identify the main trend, which is usually on 1 or 2 timeframes higher that the one you are looking at. Then you will know, where the price is going. I suggest you read through first 20 or so pages of this thread. If something is unclear, ask away.

Best,
Uros
Good Evening Bee24,

Thank you for taking the time to response. You're right, I need to go to higher timeframes to identify the main trend. It's the main trend that's important. Thanks again for the direction.
  • #2,317
  • Mar 2, 2011 8:33am Mar 2, 2011 8:33am
Don't worry mate. Just trying to help

If you need anything, ask away.

And remember, no trend - no trade! Don't look for something that isn't there.
  • #2,318
  • Mar 4, 2011 11:36pm Mar 4, 2011 11:36pm
Quoting bee24
Jimisan,

You don't wonder in which direction will it go, you simply have to identify the main trend, which is usually on 1 or 2 timeframes higher that the one you are looking at. Then you will know, where the price is going. I suggest you read through first 20 or so pages of this thread. If something is unclear, ask away.

Best,
Uros
would someone please explain what is the easiest way to to identify the main trend for the pair ,...????
  • #2,319
  • Mar 7, 2011 2:02pm Mar 7, 2011 2:02pm
Go to Daily time frame, zoom your charts out a bit and you should be able to spot trend with your naked eyes. Look if the price is making higher highs, higher lows for uptrend or lower highs, lower lows for downtrend.
  • #2,320
  • Sep 29, 2011 12:53pm Sep 29, 2011 12:53pm
>>Take a look at this.
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