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Simple Fibonacci Trading

  • #801
  • Apr 25, 2012 9:01am Apr 25, 2012 9:01am
Quoting evilmeatball
nice one. lets hope it goes then
Its off a daily so probably will be slow and with fomc it could get a little crazy.But some say that QE3 will be talked about if so its headed in the right direction.
  • #802
  • Apr 25, 2012 9:02am Apr 25, 2012 9:02am
Quoting turboguru
Its off a daily so probably will be slow and with fomc it could get a little crazy.But some say that QE3 will be talked about if so its headed in the right direction.
Agree
  • #803
  • Apr 25, 2012 9:58am Apr 25, 2012 9:58am
here is 5min usdcad trade...
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  • #804
  • Apr 25, 2012 10:04am Apr 25, 2012 10:04am
Quoting marijan993
here is 5min usdcad trade...

Have to be careful nice setup but this is the daily.Not saying it won't work.
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  • #805
  • Apr 25, 2012 10:49am Apr 25, 2012 10:49am
Being a little aggressive with the CHF
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  • #806
  • Apr 25, 2012 10:55am Apr 25, 2012 10:55am
Quoting turboguru
Being a little aggressive with the CHF
I have buy stop order at 0.9108
  • #807
  • Apr 25, 2012 10:58am Apr 25, 2012 10:58am
Quoting marijan993
I have buy stop order at 0.9108
hahha could happen

thats being super aggressive and a really small swing but you never know.
  • #808
  • Apr 25, 2012 11:03am Apr 25, 2012 11:03am
Pending EJ probably will trigger after FOMC statement
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  • #809
  • Apr 25, 2012 11:06am Apr 25, 2012 11:06am
Quoting turboguru
hahha could happen

thats being super aggressive and a really small swing but you never know.
well, that's 5 min tf... lots of swings, lots of opportunities. You must be aggressive... and lucky
  • #810
  • Apr 25, 2012 11:08am Apr 25, 2012 11:08am
Quoting marijan993
well, that's 5 min tf... lots of swings, lots of opportunities. You must be aggressive... and lucky
as I wrote this, my luck was gone... hit SL on that usdcad...
  • #811
  • Apr 25, 2012 11:13am Apr 25, 2012 11:13am
Quoting marijan993
as I wrote this, my luck was gone... hit SL on that usdcad...
stops on a 5m swing have to be bigger than the 61 hence my stop on the CHF trade.
  • #812
  • Apr 25, 2012 11:18am Apr 25, 2012 11:18am
Quoting turboguru
stops on a 5m swing have to be bigger than the 61 hence my stop on the CHF trade.
I agree, but that gives very bar R:R. I guess 5 min tf is not good for this strategy. I should start looking at higher tf's.
  • #813
  • Apr 25, 2012 11:33am Apr 25, 2012 11:33am
Quoting marijan993
I agree, but that gives very bar R:R. I guess 5 min tf is not good for this strategy. I should start looking at higher tf's.

To me R:R is overrated. If you only take trades based on R:R you will miss tons of setups. I never go with R:R. Just what charts tell me.
  • #814
  • Apr 25, 2012 12:33pm Apr 25, 2012 12:33pm
Quoting turboguru
To me R:R is overrated. If you only take trades based on R:R you will miss tons of setups. I never go with R:R. Just what charts tell me.
Oh, well... that usdchf failed too... :/
  • #815
  • Apr 25, 2012 12:53pm Apr 25, 2012 12:53pm
Quoting marijan993
Oh, well... that usdchf failed too... :/
no sir it has not.
If I would have traded it off a 5m chart I would have taken it as a scalp as news was coming out.
Attached Image (click to enlarge)
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  • #816
  • Apr 25, 2012 1:13pm Apr 25, 2012 1:13pm
Well big B fxing to have his press conference things could get moving.
  • #817
  • Apr 25, 2012 1:26pm Apr 25, 2012 1:26pm
Quoting marijan993
Oh, well... that usdchf failed too... :/
tp1

out all
Attached Image (click to enlarge)
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  • #818
  • Apr 25, 2012 1:45pm Apr 25, 2012 1:45pm
Quoting marijan993
I have buy stop order at 0.9108

Hope you got out of this one :/
  • #819
  • Apr 25, 2012 2:07pm Apr 25, 2012 2:07pm
Had to step out for a few hours today and when I just got home and looked no trades. I had set the EA to take the trade at 61 instead of 50 and when I just looked over the EA I found out that I forgot to change the stop on the EA. Lesson learned. Nice work today traders !!!
  • #820
  • Apr 25, 2012 4:56pm Apr 25, 2012 4:56pm
Quoting turboguru
Hope you got out of this one :/
That was the trade I wrote all along.... and it failed
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