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Fibo Fan Wonderful Winning System

  • #61
  • Oct 6, 2012 8:03am Oct 6, 2012 8:03am
This reminds me Speed Resistance Lines tool from Metastock. If interested, try to do the following. Enter "0.33" as your first level in Fibo fan properties and "1/3" for description and "0.67" as your second level and "2/3" for description. Apply the fan from a swing low to the swing high. Enter short when the price crosses "1/3" line. Exit when it crosses "2/3". Do opposite when applied from a high to the low.
  • #62
  • Oct 6, 2012 11:03am Oct 6, 2012 11:03am
Quoting voff
This reminds me Speed Resistance Lines tool from Metastock. If interested, try to do the following. Enter "0.33" as your first level in Fibo fan properties and "1/3" for description and "0.67" as your second level and "2/3" for description. Apply the fan from a swing low to the swing high. Enter short when the price crosses "1/3" line. Exit when it crosses "2/3". Do opposite when applied from a high to the low.
I tried it but there are too much losses !
Trade Safe !
  • #63
  • Oct 6, 2012 11:46am Oct 6, 2012 11:46am
I've recently came over Fibo and Gann in my trading scheme. I'm trying to apply their benefits to swings and so this thread seems perfect. I'm trying many numbers and finding nice points. This method seems great. But a further analysis would confirm if something needs to be modified. I'll adapt the strategy for me, but I'll follow very interested this discussion. Thanks for sharing.
  • #64
  • Oct 6, 2012 1:27pm Oct 6, 2012 1:27pm
Quoting Goodgame42
I tried it but there are too much losses !
Strange, I tried it on various markets except Forex (futures on currencies, indices and commodities like soybeans), different timeframes, and there were definitely much more profits then losses. Can you post some of you pictures so that we could compare them with mine?
  • #65
  • Oct 6, 2012 1:51pm Oct 6, 2012 1:51pm
Quoting voff
Strange, I tried it on various markets except Forex (futures on currencies, indices and commodities like soybeans), different timeframes, and there were definitely much more profits then losses. Can you post some of you pictures so that we could compare them with mine?
Look at this example on aud/usd on H4:

http://www.casimages.com/img.php?i=1...0453332672.png
Trade Safe !
  • #66
  • Edited Oct 7, 2012 12:02am Oct 6, 2012 2:20pm | Edited Oct 7, 2012 12:02am
Quoting Goodgame42
Look at this example on aud/usd on H4:

http://www.casimages.com/img.php?i=1...0453332672.png
Well, here is a different view. Besides, this is kinda counter-trend trading, so no wonder it gets wiped out during a strong trend.
http://imageshack.us/a/img24/3118/aud1.png
http://imageshack.us/a/img72/6470/aud2.png
http://imageshack.us/a/img18/7978/aud3.png
  • #67
  • Oct 7, 2012 1:42am Oct 7, 2012 1:42am
On smaller swing, it's the same thing: we are more losses than wins. The idea is interesting but it should be completed with an other indicator to avoid false signals.
King regards !

http://nsa30.casimages.com/img/2012/...5304992383.png
Trade Safe !
  • #68
  • Oct 7, 2012 5:44am Oct 7, 2012 5:44am
But your entries are different from mine. You seem to entry on 1/3 from swing low to swing high, and exit after 2/3. This is wrong. This distance is not fixed and depends on the swing's length. I'm not advocating this approach because it needs large stop-losses I'm not comfortable with, but at least it should be applied properly.
  • #69
  • Oct 8, 2012 1:10am Oct 8, 2012 1:10am
GBP 15 min chart - completely after the fact but sure gives some food for thought.
http://imageshack.us/a/img35/919/gbpn.png
  • #70
  • Edited 5:59pm Oct 13, 2012 4:28am | Edited 5:59pm
Quoting naser_mohamm
Hi All F.F Guys.
I hope you all get rest from this bs market last week.
Now I would like to add another condition in case of the market reversal. We put another .25 & 0.0 line in both fan and fibo retracement so the 0.25 level will be our stop loss (just idea to discuss) and if the price reverses to this point (level) we reverse the trade. i mean we can put double lot once the price hits .25 level and the target will the zero level.
This idea is under discussion.
I noticed that in many cases when the price - due to market strange conditions in some...
I agree that often the reverse order with double lotsize hits the zero level
or at least comes near it, so the order can be closed and the sum total of the losing and the winning order is a profit.

But I saw whipsaws too where price went again in the "wrong" direction
and the second order would hit SL.
For a risk of 1 %, we would lose 3 % then.

Have you experienced this in your trading ?
Or have you been lucky to only catching overall profitable trades ?

On some charts, price broke out far enough of a range, so after the whipsaw, if you would reverse the order again with double lotsize, you would win.
It is martingale strategy though. you lose 1 % , then 2% , then you win the next trade with 4 %, so sumtotal would be + 1 %,
but market could range some more and margin call would be in sight.

Maybe better to take the loss of 3 % ( for starting risk of 1% ) if the reverse order doesn´t give you a profit .... and hoping for a high
percentage of winning setups.
What are your thoughts on this ?
  • #71
  • Oct 13, 2012 4:40am Oct 13, 2012 4:40am
Fibos are quiet agressive way of trading. Don't you think?
  • #72
  • Oct 27, 2012 1:09pm Oct 27, 2012 1:09pm
Quoting naser_mohamm
Here is an expmle of winning trade I made ...
Hi naser mohamm

just started reading ur thread. thanks for sharing ur success with all. let the spirit continue.

i couldnt understand the entry for long or shory & exit,

please elaborate.

thanks in advance

fxmyluv
  • #73
  • Oct 27, 2012 1:14pm Oct 27, 2012 1:14pm
Quoting naser_mohamm
See how I achieved 28 % in my account only today using this wondurful strategy !!!
Hi n m

Wonderful achievement.

can u please post FIB FAN or say how to get it. how to use fib fan to find entry & exit. which TF it is useful for?

fxmyluv
  • #74
  • Dec 5, 2012 3:14am Dec 5, 2012 3:14am
Quoting Kiads
Hi Brother,
once again sorry for my bad english, coz it is not my native language..
about the vertical lines.. it's only cycle line tools, that I use for marking GMT 0 candle for beginning of the day, because my broker server time is GMT 3, so i must create my own period separator for GMT 0.
The dotted vertical line marking the day, and the solid one marking the week.
I marking high/low of previous Friday (the blue box) as a base for projecting the polarity angle of price distribution for the whole following week (Monday to next Friday) use...
Hi Kiads,

I use fibo fans for projection as well, your weekly projection looks very nice.The thing I don't get is from where to where you draw your fibo fan in the last friday.Is it from the middle point of blue box to the friday close corner of blue box ? Does it mean friday daily pivot to the friday close ?
Can you explain a little more please ? And how do you use it with the start of the new week ?
  • #75
  • Last Post: Sep 3, 2019 6:21pm Sep 3, 2019 6:21pm
Quoting naser_mohamm
{quote} Wonderful fans Kiads But what about the 2 vertical lines, from where they come from ?? fibo time series expansion ?! Could you clarify more .. Thanks
Dear
is drawing fibo fans following the trend?
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