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Simple Fibonacci Trading

  • #721
  • Apr 23, 2012 5:39am Apr 23, 2012 5:39am
Pending GU
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  • #722
  • Apr 23, 2012 6:43am Apr 23, 2012 6:43am
I closed the eurusd short for -9.5 pips as I don't like the look of the move. There will be better trades to come.
  • #723
  • Apr 23, 2012 6:44am Apr 23, 2012 6:44am
EJ finally broke my way
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tradewith60
  • #724
  • Apr 23, 2012 6:56am Apr 23, 2012 6:56am
Quoting turboguru
Pending GU
Active little aggressive 15m and markets down.
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  • #725
  • Apr 23, 2012 7:24am Apr 23, 2012 7:24am
Hugh, What a great thread you have started. Later today I am going to read the whole thread.

ferruFx, Thank you, Thank you, and thank you. Last month while I was trading I said to myself that I need to learn how to make a ea for how I trade and you have done it. This EA that you made is just what I wanted to learn how to build. Thank you again.

60 minuteman after seeing your chart and reading a couple of your posts I have a feeling that we trade the same. The 61 thru 88 fibs are my fib numbers I like.

I also use fib extensions for my profit targets. I just finished a course on trading harmonic patterns. These patterns are built from fib levels. Even through I have took the harmonic course and learned a lot about harmonics I do not consider my self a harmonic trader. I still consider myself as a fib trader and my peferred fib area is 61 thru 88 fibs.
I have only traded with a ea once so I do not know to much about them. After I am done reading this thread and set up the ea I will post some trades.
Thanks again.
  • #726
  • Apr 23, 2012 7:28am Apr 23, 2012 7:28am
Quoting Jagfx
Hugh, What a great thread you have started. Later today I am going to read the whole thread.

ferruFx, Thank you, Thank you, and thank you. Last month while I was trading I said to myself that I need to learn how to make a ea for how I trade and you have done it. This EA that you made is just what I wanted to learn how to build. Thank you again.

60 minuteman after seeing your chart and reading a couple of your posts I have a feeling that we trade the same. The 61 thru 88 fibs are my fib numbers I like.

I also use fib extensions for my profit...
Hello and welcome to the thread, glad you like it. Looking forward to your charts and comments.
  • #727
  • Apr 23, 2012 7:59am Apr 23, 2012 7:59am
Quoting Jagfx
ferruFx, Thank you, Thank you, and thank you. Last month while I was trading I said to myself that I need to learn how to make a ea for how I trade and you have done it. This EA that you made is just what I wanted to learn how to build. Thank you again.
Glad to know that it helps in your trading.

Enjoy the thread!
MT4/MT5 EAs/Indicators/Alerts coder
  • #728
  • Apr 23, 2012 8:30am Apr 23, 2012 8:30am
Hugh,

Catching up on the weekends thread. I'm a big fan of the larger time frames for setting out a trading plan. With that in mind here is my latest.

Weekly GJ in downtrend with Stochs moving lower.
Daily has broken its recent up trend and formed a lower high.
So I move to a lower time frame where I want to find a short with resistance and an o/b condition that coincides with entry level on Fib.
In this instance the 30min was favourite.

Please guys if you have any comments about if I'm missing something - let me know!!
Attached Image(s) (click to enlarge)
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  • #729
  • Apr 23, 2012 9:06am Apr 23, 2012 9:06am
Quoting turboguru
Active little aggressive 15m and markets down.
GU added to this trade.But never had this happen. (Forex LTD demo) I was trying to move a stop and it wouldn't let me said it was to close to market. Been trading for about 4 years now and never had this happen. My live acc I can adjust at any time.So got stopped on the 1st trade funny it hit stop to the pip no biggie loss pretty much recovered but keep this in mind looking for a broker. I am using the V4 of the EA live and working flawless.Wish I could have the mq4 to make things a little easier to setup but understand if Ferru won't give it.
Attached Image (click to enlarge)
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  • #730
  • Apr 23, 2012 9:24am Apr 23, 2012 9:24am
Quoting turboguru
Wish I could have the mq4 to make things a little easier to setup but understand if Ferru won't give it.
Sorry but I won't provide the .mq4 for this tool.

Thanks for your understanding.
MT4/MT5 EAs/Indicators/Alerts coder
  • #731
  • Apr 23, 2012 9:39am Apr 23, 2012 9:39am
hope im not going off course with these posts, but hugh's idea for trending fibs is spot on... just think if you combined it with the trend change idea you can haz alll the pips!!!
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tradewith60
  • #732
  • Apr 23, 2012 9:41am Apr 23, 2012 9:41am
Quoting Raggs
Hugh,

Catching up on the weekends thread. I'm a big fan of the larger time frames for setting out a trading plan. With that in mind here is my latest.

Weekly GJ in downtrend with Stochs moving lower.
Daily has broken its recent up trend and formed a lower high.
So I move to a lower time frame where I want to find a short with resistance and an o/b condition that coincides with entry level on Fib.
In this instance the 30min was favourite.

Please guys if you have any comments about if I'm missing something - let me know!!
Yep, good logic and nice charts.
  • #733
  • Apr 23, 2012 9:43am Apr 23, 2012 9:43am
Quoting 60minuteman
hope im not going off course with these posts, but hugh's idea for trending fibs is spot on... just think if you combined it with the trend change idea you can haz alll the pips!!!
Go as far of course as you like as long as it gets us all to a good destination
  • #734
  • Apr 23, 2012 11:29am Apr 23, 2012 11:29am
Quoting turboguru
GU added to this trade.But never had this happen. (Forex LTD demo) I was trying to move a stop and it wouldn't let me said it was to close to market. Been trading for about 4 years now and never had this happen. My live acc I can adjust at any time.So got stopped on the 1st trade funny it hit stop to the pip no biggie loss pretty much recovered but keep this in mind looking for a broker. I am using the V4 of the EA live and working flawless.Wish I could have the mq4 to make things a little easier to setup but understand if Ferru won't give it.
Out nice zone here.
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  • #735
  • Apr 23, 2012 12:49pm Apr 23, 2012 12:49pm
CAD from last week set to BE just not doing much.
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  • #736
  • Apr 23, 2012 12:55pm Apr 23, 2012 12:55pm
pending EU and CHF
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  • #737
  • Apr 23, 2012 6:25pm Apr 23, 2012 6:25pm
is this a valid signal?

eu, 4hr

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  • #738
  • Apr 23, 2012 6:32pm Apr 23, 2012 6:32pm
Quoting kor
is this a valid signal?

eu, 4hr
Your chart isn't really showing an Up trend, so I won't say that it's a valid setup ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #739
  • Apr 23, 2012 6:40pm Apr 23, 2012 6:40pm
hi hugh, which fib drawing is more appropriate? the first had a set up at 50fib but there is none on the second, in this case, do we have to do trail and error for all possible fib drawing at different swing points and set the EA ? or is it advisable to wait for set up on the second pic?



first
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second
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thanks!
  • #740
  • Apr 23, 2012 6:50pm Apr 23, 2012 6:50pm
Quoting FerruFx
Your chart isn't really showing an Up trend, so I won't say that it's a valid setup ...


is it due to the blue area in the chart?

hope you dun mind me flooding this thread with pic, i feel it is easier to read as im bad at words



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