Simple Fibonacci Trading | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

I need an EA for my simple "Mother Candle Fibonacci System" 63 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

Gp's simple daily fibonacci-based system 120 replies

Simple Fibonacci with candlesticks... 2 replies

Attachments: Simple Fibonacci Trading
Exit Attachments

Simple Fibonacci Trading

  • #201
  • Mar 29, 2012 8:13am Mar 29, 2012 8:13am
Quoting Raggs
Looking at a potential set up on USDJPY 1H - your take on this guys??
Any comments?
I'm short usdjpy already but yes, it could work.
  • #202
  • Mar 29, 2012 8:14am Mar 29, 2012 8:14am
Quoting Raggs
Must have missed that one :-)
No worries, I'll update the first post over the weekend with more a more coherent trading plan.
  • #203
  • Mar 29, 2012 8:17am Mar 29, 2012 8:17am
Eurusd 4 hour has set up.
  • #204
  • Mar 29, 2012 9:59am Mar 29, 2012 9:59am
FerruFx, looking at the audusd trade I think it actually closed half dead on the 0% level. I think it is safer to do this 1 pip + spread above that level. Which way is the ea coded, is it my imagination?
  • #205
  • Mar 29, 2012 10:20am Mar 29, 2012 10:20am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Hugh Briss
FerruFx, looking at the audusd trade I think it actually closed half dead on the 0% level. I think it is safer to do this 1 pip + spread above that level. Which way is the ea coded, is it my imagination?
As per your rules in post #1, BUY TP1 is below level 0 less spread less 1 pip

"Let's assume for this example we are in an uptrend. The first order goes 1 pip + spread above the 38.2 level. The stop loss is 1 pip + spread below the 61.8 level and the take profit goes 1 pip + spread below the 0 level"
MT4/MT5 EAs/Indicators/Alerts coder
  • #206
  • Mar 29, 2012 10:28am Mar 29, 2012 10:28am
Quoting FerruFx
As per your rules in post #1, BUY TP1 is below level 0 less spread less 1 pip

"Let's assume for this example we are in an uptrend. The first order goes 1 pip + spread above the 38.2 level. The stop loss is 1 pip + spread below the 61.8 level and the take profit goes 1 pip + spread below the 0 level"
I think that is for long trade as Hugh talks about swing high
  • #207
  • Mar 29, 2012 10:36am Mar 29, 2012 10:36am
AudUsd was short?
  • #208
  • Mar 29, 2012 12:23pm Mar 29, 2012 12:23pm
Quoting FerruFx
As per your rules in post #1, BUY TP1 is below level 0 less spread less 1 pip

"Let's assume for this example we are in an uptrend. The first order goes 1 pip + spread above the 38.2 level. The stop loss is 1 pip + spread below the 61.8 level and the take profit goes 1 pip + spread below the 0 level"
As Raggs has pointed out above that is for a buy trade, the audusd trade was a short so the level should be above the 0% level by 1 pip plus the spread BUT you have already coded a solution into the ea by putting the tp level at 1 or 2% instead of 0 so the ea will take half profit just before the price reaches the 0% level in either direction. Ingenious
  • #209
  • Mar 29, 2012 12:28pm Mar 29, 2012 12:28pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Hugh Briss
... the audusd trade was a short so the level should be above the 0% level by 1 pip plus the spread ...
This is exactly how it is coded in the EA.
MT4/MT5 EAs/Indicators/Alerts coder
  • #210
  • Mar 29, 2012 1:10pm Mar 29, 2012 1:10pm
Quoting FerruFx
This is exactly how it is coded in the EA.
Ok, I must have been mistaken about the point it took profit. Thanks again for an excellent tool.
  • #211
  • Mar 29, 2012 1:52pm Mar 29, 2012 1:52pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Hugh Briss
Ok, I must have been mistaken about the point it took profit. Thanks again for an excellent tool.
Some times you may have slippage and requote involved ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #212
  • Mar 29, 2012 2:04pm Mar 29, 2012 2:04pm
Quoting FerruFx
Some times you may have slippage and requote involved ...
Yes. I don't think the market was moving very fast. Works a treat anyway, such a relaxing way to trade!
  • #213
  • Mar 29, 2012 2:16pm Mar 29, 2012 2:16pm
Not sure about the rules they have changed a little but tried GU went well.
Attached Image (click to enlarge)
Click to Enlarge Name: chf.gif Size: 20 KB
  • #214
  • Mar 29, 2012 2:27pm Mar 29, 2012 2:27pm
Quoting turboguru
Not sure about the rules they have changed a little but tried GU went well.
You are right, the rules need redefining a bit. Generally you want to trade with the trend/momentum and gbpusd has a bit of upwards momentum at the moment so not a bad trade to take. I'm tending to use the higher timeframes. My eurusd long on the 4 hour has triggered.
  • #215
  • Mar 29, 2012 2:34pm Mar 29, 2012 2:34pm
Quoting Hugh Briss
You are right, the rules need redefining a bit. Generally you want to trade with the trend/momentum and gbpusd has a bit of upwards momentum at the moment so not a bad trade to take. I'm tending to use the higher timeframes. My eurusd long on the 4 hour has triggered.
I have a sell fib pulled but it wont trigger till 1.3315ish. I drew it off H1
  • #216
  • Mar 29, 2012 3:47pm Mar 29, 2012 3:47pm
Quoting Hugh Briss
You are right, the rules need redefining a bit. Generally you want to trade with the trend/momentum and gbpusd has a bit of upwards momentum at the moment so not a bad trade to take. I'm tending to use the higher timeframes. My eurusd long on the 4 hour has triggered.
Dear Hugh Briss please read the following article that may help redefine the rules for more successive positions.(It is based on support & resistance levels located on 3 important fibo levels 0.386,0.5,0.618)
http://www.dukascopy.com/fxcomm/fx-a...gy-Part&id=629
  • #217
  • Mar 29, 2012 5:42pm Mar 29, 2012 5:42pm
Can one of the coders in here tell me how to make the dotted line change colors. I can put the code in just don't know how to find it. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.gif Size: 20 KB
  • #218
  • Mar 29, 2012 6:22pm Mar 29, 2012 6:22pm
Quoting Hugh Briss
Here's gbpusd just set up.
Nice but in this example just before your example you would have 2 losses !
  • #219
  • Mar 29, 2012 7:39pm Mar 29, 2012 7:39pm
nu to north??
Attached Image (click to enlarge)
Click to Enlarge Name: capture_18.png Size: 100 KB
Peace Yo!
  • #220
  • Mar 29, 2012 7:46pm Mar 29, 2012 7:46pm
gu.. miss out to check in the plane....
Attached Image (click to enlarge)
Click to Enlarge Name: capture_19.png Size: 100 KB
Peace Yo!
1 trader viewing now