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Fibonacci Trading with Bobokus

  • #8,561
  • Aug 28, 2011 9:27pm Aug 28, 2011 9:27pm
Quoting Bobokus
Hi Speed, how's your trading going ?

Is going all right , thanks for asking !
Love your last video you post on youtube.
Answered me a question I had for a long time. How many trades can you have in a week ?!
Always thought I missed a lot of trades.
  • #8,562
  • Oct 8, 2011 12:17am Oct 8, 2011 12:17am
Hi Bobokus,

How is your trade club doing?

Also, can you guys have a look at my chart and see if my fibo is placed correctly?

The range fib is considered as the intermediate fib.

thanks.
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  • #8,563
  • Oct 17, 2011 8:23pm Oct 17, 2011 8:23pm
Quoting Chroniclez
Hi Bobokus,

How is your trade club doing?

Also, can you guys have a look at my chart and see if my fibo is placed correctly?

The range fib is considered as the intermediate fib.

thanks.
Your fibs are fine.
You might wanna pull another fib from the Major Low point (purple) to the point above the Range Long (green) for the up move to establish the support points.
I know is kind of a late response, not coming so often around here ,lately.
  • #8,564
  • Oct 17, 2011 11:09pm Oct 17, 2011 11:09pm
Quoting speedarad
Your fibs are fine.
You might wanna pull another fib from the Major Low point (purple) to the point above the Range Long (green) for the up move to establish the support points.
I know is kind of a late response, not coming so often around here ,lately.
Thank you speedarad!
  • #8,565
  • Nov 1, 2011 4:33am Nov 1, 2011 4:33am
Like this thread i do.
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #8,566
  • Nov 18, 2011 10:49am Nov 18, 2011 10:49am
http://clip2net.com/s/1ks05


Hi,
I downloaded the template and pdf on page1.
Am I missing the indicator?
When I attach template to weekly cable chart the picture shows what I see.

Could someone kindly clarify what is going on and what I need to do to get those nice fibs on my chart

thank you in advance
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  • #8,567
  • Nov 19, 2011 5:01am Nov 19, 2011 5:01am
the indicator doesnt appear on my screen too...but after i read the pdf file and after understanding the basic mentality i thought "oh,there is no need for the templete" ....all u need to do is to find support and resistance levels and draw a fib tool between those levels...and also u can edit fibo tool settings and add new levels too...for ex i deleted 23,6 and 76,3 levels and added a new -38,2 for a possible reverse ...so i dont need to draw a new fibo tool in the new directin...another thing i learned is : by typing "%$" to the explanation part of any level in fibo tool settings you can see the prices on the fibo tool...

i have been using fibo tool as a part of my trading for about 3 weeks...and i mainly use equidistant channels and pitchforks ...and fibo tool is already a strong tool for me....

all u need is to understand the pdf clearly...

regards...
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #8,568
  • Nov 27, 2011 10:22am Nov 27, 2011 10:22am
Wanted to show my way of using fibonacci,
I like to put the 0.0 on the high and 23.6 on the on the second high when it's bearish,other way around when it's bullish,
quite difficult to explain,but if you look at my chart you will probably understand.
I have applied this on my daily GBP/USD chart but it can be applied on 4 hourly,hourly,15min,etc.etc. timeframe too.
Please feel free to comment,I know this is a usefull way to use fibonacci and hope others will understand and take advantage of this method,
I have been trading a couple years age, stopped trading after the Lehman shock,lost lots of money on Lehman brothers stock,that was one bad move I made,but I am back now for revenge.
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  • #8,569
  • Dec 26, 2011 5:33am Dec 26, 2011 5:33am
happy christmas
I need time ,I need money, I need more patience
  • #8,570
  • Dec 30, 2011 5:05pm Dec 30, 2011 5:05pm
Its been a while since I post....here is a little setup I am interested.

Will be looking into shorting the gbp/usd if we can retest yesterdays high and show failure again with good price action. We are currrently still in a downtrend but be aware that the daily chart has failed the last support point 3 times already. I will be taking a short position but if the market starts to show me indications of wanting to start trending upwards at key support points on my retracement fibb I will consider taking a long position and sticking with it.



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  • #8,571
  • Mar 4, 2012 2:48pm Mar 4, 2012 2:48pm
FIBONACCI
Its a shame this thread died. Fib level trading is the tool most professional traders use. You just have to know how to use them. I would like to re-open this thread with a new approach on trading fib levels the way they were meant to be traded. Daily and higher. If anyone is interested, please stand by.

TIMEFRAM
Daily timeframe will be used exclusivly.

STOPS
Stoplosses would be approximately around the 200-300 pip variety.

PROFIT MARGINE
Profit margine will be the 400-500 pip variety.
Please do not vouch for me.
  • #8,572
  • Mar 4, 2012 3:06pm Mar 4, 2012 3:06pm
Looking to buy this pair at around the 61.8 % level here. Will wait for open to see where we jump after that crap from Greece today.

My Trade: If price is around current levels when market opens I will buy from this level and add another buy if we hit 1.3165. Stoploss is at 1.300, ( Approx. 166 pips ) with my T/P #1 @ 1.3334 and T/P #2 @ 1.3500
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Please do not vouch for me.
  • #8,573
  • Mar 4, 2012 3:12pm Mar 4, 2012 3:12pm
Quoting spillini
FIBONACCI
Its a shame this thread died. Fib level trading is the tool most professional traders use. You just have to know how to use them. I would like to re-open this thread with a new approach on trading fib levels the way they were meant to be traded. Daily and higher. If anyone is interested, please stand by.

TIMEFRAM
Daily timeframe will be used exclusivly.

STOPS
Stoplosses would be approximately around the 200-300 pip variety.

PROFIT MARGINE
Profit margine will be the 400-500 pip variety.
I agree that its a shame that bobokus has gone commercial and that this thread has consequently died off.
I'm still new to fibonacci. It's fairly intuitive but would like to see it used with some sense of objectivity and reliability, so, would welcome you reviving or starting a new thread on the matter. I am standing by.
  • #8,574
  • Mar 5, 2012 12:00am Mar 5, 2012 12:00am
@spillini: i'm waiting
botsog
  • #8,575
  • Mar 5, 2012 6:55am Mar 5, 2012 6:55am
This is a long term trading deal here and I will not be a wet nurse sitting behind a computer all day long. Yo got my trade, and I will pop in from time to time to update. This is a simple daily check system. If you want a computer starer, then find another thread. However, if you need my trade again, please see my last post with the chart.

Bought E/U at levels 1.3193 and 1.3162 with stop @ 1.3000 and T/P #1 @ 1.3334 and T/P #2 @ 1.3500


This is a 61.8 % Fib level trade.




Quoting botsog
@spillini: i'm waiting
Please do not vouch for me.
  • #8,576
  • Mar 5, 2012 8:34am Mar 5, 2012 8:34am
Quoting spillini
FIBONACCI
Fib level trading is the tool most professional traders use. You just have to know how to use them. I would like to re-open this thread with a new approach on trading fib levels the way they were meant to be traded. Daily and higher. If anyone is interested, please stand by.


TIMEFRAM
Daily timeframe will be used exclusivly.
Could you say something more about how you see fib levels are meant to be traded and the way they are meant to be used opposed to how they should not but often are, presumably, mis-used, please?

Also, is the way you use fib levels and what you are going to be showing here, only applicable to Daily and higher tf, or can the same be used on smaller tf? Would you say the way professionals use fib and, the way you are going to show here, it shouldn't be used on smaller tf?

I'm not trading Daily charts although even intraday the 61.8% retracement was a very good level to have on the chart today. So, either way, I'm looking forward to seeing how you use this tool.

Thanks
  • #8,577
  • Mar 5, 2012 10:56am Mar 5, 2012 10:56am
Quoting livindaylite
I agree that its a shame that bobokus has gone commercial and that this thread has consequently died off.
I'm still new to fibonacci. It's fairly intuitive but would like to see it used with some sense of objectivity and reliability, so, would welcome you reviving or starting a new thread on the matter. I am standing by.
fib like any tool is a point of ref,pa around the fib is key.set up the fib indi on your chart daily,and 1 hour,also add pivot indi.what you will find which is a skill you will have or not to make it into the 5% club.
bobokus kudos to him,if you cannot pay the master then you should not play the game.
fib is a tool in the tool box. only that
student
  • #8,578
  • Mar 5, 2012 7:41pm Mar 5, 2012 7:41pm
Up 84 pips as of this moment.

To answer your question as best as possible. When I said meant to be traded, I meant the following: Fib levels, as any other indicator, will work better on higher timeframes. The smaller the time frame the more apt to fail. If you can not trade daily then this is not for you. You will see huge drawbacks against you and you have to sit and watch them and ignore them. It is my belief that the smaller timeframes should be used for scalping and only scalping. I think indys and oscillators are totally useless on small yime frames. That ia my opinion but I put a lot of faith in it and I am becoming successful because of it.


Quoting livindaylite
Could you say something more about how you see fib levels are meant to be traded and the way they are meant to be used opposed to how they should not but often are, presumably, mis-used, please?

Also, is the way you use fib levels and what you are going to be showing here, only applicable to Daily and higher tf, or can the same be used on smaller tf? Would you say the way professionals use fib and, the way you are going to show here, it shouldn't be used on smaller tf?

I'm not trading Daily charts although even intraday the 61.8% retracement...
Please do not vouch for me.
  • #8,579
  • Mar 7, 2012 9:40am Mar 7, 2012 9:40am
Hi Spillini...i do not want to oppose ur analysis...but i also have been using this method for a long time , and according to the PDF file in the first post SL should be adjusted at %38 fibo level when u enter a long position at %50...and maybe u can give it some flexibility and add a new level to ur fib at %30...

I mean i have been using it like that (in accordance to the PDF file in the first post)...otherwise the risked amount will be really big...

But i really respect that you use Fibo in ur trading style , its really useful..i will be following this thread hoping that i might learn some other new stuff from you...

regards...
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #8,580
  • Mar 7, 2012 3:53pm Mar 7, 2012 3:53pm
My stops find 2 recent lows that have supported in the past. I dont go by anything in this thread from Bobkus or whatever. These are my parameters. See chart and you can see why I put my stop where I did. Look for green arrows to see the lows. Any time you see 2 lows supported at the same level, you can bet your ass its a good support level.



Quoting selym_co
Hi Spillini...i do not want to oppose ur analysis...but i also have been using this method for a long time , and according to the PDF file in the first post SL should be adjusted at %38 fibo level when u enter a long position at %50...and maybe u can give it some flexibility and add a new level to ur fib at %30...

I mean i have been using it like that (in accordance to the PDF file in the first post)...otherwise the risked amount will be really big...

But i really respect that you use Fibo in ur trading style , its really useful..i will be following...
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