Fibonacci Makeover - Trade once a Week

oiwnatm, thanks for posting the weekly video. Very clearly explained. I have my levels set and they coincide with yours.

Does FXPrimus open at 9PM from this Sunday? Pepperstone has been opening at 10PM but moves to 9PM this weekend.

From FXPrimus Website

The market opens at 5PM EST Sunday night and closes 5PM EST Friday night.

What are the broker hours used by your server?


Our servers are set up on GMT+3 from March to November, then are on GMT+2 from November until March. Please check this link for detailed information on Forex hours: http://www.forex-internet.com/forexhours.htm


So I will check on Sunday, what time Market opens and this will be then remain constant till November.

As from tonight the servers are set to GMT +3 until November.

I have a question if you don't mind regarding the Fibonacci makeover weekly system.
You used to have 1 TP but now have TP1 and TP2, why did you feel the need to implement this as you had a high win rate (more than 80%) already?

By taking half at TP1 this will reduce the profit from the >80% winning trades while the losses remain the same.

You are right, normtold. This change was added as some of the users were not happy with the R:R ratio and want to lock in profit. As most of the users are starting to use this system for the first time, I think it will be a good idea to see how system performs and once everyone is comfortable, change the risk profile as per the user's risk taking attitude.

As I have stressed many times in webinars that first 100% return is crucial. Once your account is 100% up, you can increase your risk profile and added with compounding, you will see a good growth. Again, once you reach a stage where your returns are at very high than normal, say more than 2-3% a day, then reduce the risk profile. Market never remains same and one have to respect the market.

Also, if your gut feeling sometimes say to get out of the market with little profits or little loss, get out. As long as you are not gambling because of gut feeling, I thinks its ok. For eg, we took the Monthly pending trade off last week as there was strong reversal on Daily frame, but today AUDUSD started with a gap down and it would have touched our first TP. But we did not loose any money on the trade and thats what the key is.

I practice visualization since my freak accident and I just visualise green column in my MetaTrader. Thats where your focus has to be.

In the last post I wrote about Focus and the next day it was a freat test, when the scalping trade went in the opposite direction.

We closed with a huge drawdown and a small loss, but it has been a good lesson. Infact the scalping trade wa taken oppostie to the trend and that was the reason for the drawdown plus a wrong pending order trade was opened in the same direction as compared to the opposite direction. Things like that happen in trading.

with EURJPY coming down, I am not sure what is the trend now, so I will stay away from Scalping trades for a while and just take normal Weekly Trades for the moment.

I was trying to post in this thread this morning but was unable to for some reason. I was going to check with you that I had the right order levels on the EOD strategy but I will stick with the Monthly strategy off the H4 for now.

My sell order got triggered at 1.0292.

Bought this system recently, so thought of joining this thread to share and learn from people who are already using it.

My AUDUSD bought triggered at 1.0292 - (3 pips spread).

normtold, did you took spread in consideration or not?

Yes, I use a 5 digit broker and the spread was 0.9 at the time sometimes goes to 0.5.

My 100 line is at 1.02931 and set my order at 1.02922.

Got stopped out as I guess you did rajaji8.

By the way rajaji8 I see you just joined FF, where did you see the system advertised?

Yes, we win some and loose some. Last week trades were hit by stop loss.

Two Pending Trades for this week has been placed. Email sent with all the details and Site updated too.

Lets hope for a positive week.

got stopped out too.

I saw this being advertised on gumtree.com. I must say it is a very simple system with entry and exit clearly defined.

If it performs like it has in last year and back tests, its gonna be a major breakthrough in my Forex Trading earnings

I have closed both AUDUSD (Monthly & Weekly) trades as the market keeps bouncing off from our TP of 1.0416.
As it is the month end and with Bank Holidays coming, Market can be volatile with no clear indication of trend.
We finish our trading for March 2013 with a return of 22.78%
http://forexfibs.com/wp-content/uplo...013_trades.png
Here is the breakup of return and Currencies traded
http://forexfibs.com/wp-content/uplo...13_trades2.png
A total of 41 Trades, 297 pips and 85% striking rate.
Only two scalping trades went into opposite direction bringing a big drawdown, but as they say in Trading, you can not be right at all the times.

Should we go for live seminar to learn or the trade details will also included in the website?

Website clearly explains the 4 Fibonacci based Method through PDF, and Videos.

Live Webinar is conducted to clear any doubts.

Our AUDUSD Weekly Trading Signal opened placed last night, hit TP today. Account is up by more than 4% this month.

Scalping Trades have been working in perfect order.

Account is up by more than 6.5% this month

AUDUSD Weekly Trade of 15 April 2013

Posted on April 15, 2013
Pending Sell Order for AUDUSD Trade once a week Trade
Sell at 1.0566
TP:1.0526
SL:1.0646
http://forexfibs.com/wp-content/uplo...ades150413.png

Pending Buy Order for AUDUSD Trade once a week Trade - 21.04.2013

Buy at 1.0279
TP:1.0308
SL:1.0219
http://forexfibs.com/wp-content/uplo...ades210413.png

TP Hit.

AUDUSD Trade once a week has given 100% return in last 9 months.

Started Selling this System just when I started this thread and it is now getting good feedback at ForexPeaceArmy too

http://www.forexpeacearmy.com/public....forexfibs.com

Following is the Buy and Sell Pending Order Trades for this week:
http://forexfibs.com/wp-content/uplo...ades290413.png