If using same Fibonacci levels for TP and SL then our RRR should be a constant, shouldn't it?
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DislikedI am sorry but I do not quite understand how can you have different R:R ratios for different trades. Sometimes you have mentioned 1:4, sometimes 1:3...
If using same Fibonacci levels for TP and SL then our RRR should be a constant, shouldn't it?Ignored
DislikedAshur,
For your 5 min charts, it would be great if you could enumerate the steps required as to determining entry point, sl, tp. It seems that you are only lookinh looking at the one timeframe in this instance.
I use mt4, and have a starc bands indicator and would like to trial this with you on mt4.
Thanks
PardyIgnored
DislikedAs long as my TP is higher than my more than 50% I have no issues and what I noticed with using the Fibo the way I am using it, my profit is ALWAYS 3x or more what my stop loss is.Ignored
DislikedNo, what I meant is that if we use the same Fibo levels all the time then mathematically RR ratio cannot differ! It is either 3 or 4 or whatever but it is always the same. Because Fibo is nothing more than % of the distance between entry and SL.Ignored
DislikedHi Ashur,
Is it possible to do a quick video on your 5 minute trading system. Hope its not asking for too much!
Thanks
PardyIgnored
DislikedYes, good question. Which timeframe should we look at on the COG when we are trading the 5 minute charts? Thanks!Ignored
DislikedWhen I am using lower TF, I don't bother looking at the COG. I only use COG on my long term trades, so that I'm not in a trade for so long only to find out it's a loser. The COG assists me in making my decision for the long term. When I make the video for 5 Minute, you'll see exactly how I start off my week. Trading starts exactly when the market opens on Sunday evening. We don't have any specific times we trade this system. Whenever the market is ready to give us something, we're there to take it gladly!Ignored
DislikedHow many pairs are you watching if trading 5 min? I think the number cannot be too big if wanting to focus and avoid mistakes?Ignored
DislikedHello Indrek and Ashur,
I thank you both for the given answers, a bit late but I was busy with other stuff.
Today I was looking at USDCAD,
It touched a few day bakc the centerline in H4 and backs off down again. So, again it should be a buy to look for from H4 perspective.
But going to D1 it looks like it only reached from below, the first Fibo level.
How to go about in such situation?
Thanks and Regards,
BenIgnored
DislikedNot a problem! I'll try to have a video uploaded today. It's my girlfriends 20th birthday so she's expecting me to do quite a bit of splurging haha. Regardless, I will find the time to upload a video for you and everyone else. You can use it on the 1 Minute time frame, I was using it on the 10 Second time frame and it was still proving to bring in pips. It's all about consistency with this system. Don't lose hope after one trade hits the stoploss. As long as you keep entering the proper signals, the market will take care of you. Don't fight or get...Ignored