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Pure & simple Abonacci system

  • #201
  • Mar 31, 2014 10:27am Mar 31, 2014 10:27am
Quoting Paulus
{quote} I have just been told it can P
That's great - thanks!!
  • #202
  • Edited Apr 1, 2014 8:35am Mar 31, 2014 1:30pm | Edited Apr 1, 2014 8:35am
Quoting jaylovin
{quote} Fxcm used to provide ukoil... Not sure if they still do though
Hi Jaylovin, FXCM offers trading in both UKOil and USOil, but to clarify, both of these crude oil benchmarks are priced in terms of US dollars. UKOil is the price of a barrel of Brent Crude, while USOil is the price of West Texas Intermediate (WTI).
  • #203
  • Mar 31, 2014 5:02pm Mar 31, 2014 5:02pm
Hi Hollowhead,
What pairs are you trading using pure and simple?
  • #204
  • Mar 31, 2014 10:43pm Mar 31, 2014 10:43pm
Quoting earlroy63
Hi Hollowhead, What pairs are you trading using pure and simple?
Hi Earlroy - pretty much anything that fulfills the criteria at the moment.

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  • #205
  • Apr 1, 2014 2:13am Apr 1, 2014 2:13am
hi , hollowhead ! may i know in these pair you trading, the length of the abonacci is how much ? and wat is the time frame that trading in these pair ??
  • #206
  • Apr 1, 2014 2:51am Apr 1, 2014 2:51am
Quoting cavenlee92
hi , hollowhead ! may i know in these pair you trading, the length of the abonacci is how much ? and wat is the time frame that trading in these pair ??
Here are the charts

You should be able to see what I have used for length on the top left of each - I am generally using one phase to fit between MM levels - the trades that lost appear to be on the ones where I have used a shorter length. TF really doesn't matter. Once your abonacci phases are set it makes no difference whether you are looking at a 1m or 1w chart - price is price, a level is a level.
AJ (156) The two back to back losses
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AJ (312) The third trade
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AU
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EA
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EG (open)
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EU
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GC
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GJ (Open)
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GU (244) (Open)
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GU (122) Loss
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  • #207
  • Apr 1, 2014 4:09am Apr 1, 2014 4:09am
@hallowhead, since we know the level of 76.4 and 23.8 before hand, what is your suggestions to putting pending orders before hand . so that we get the perfect entry at the level mentioned ? sl and tp can also be punched in before hand . as per your system all we need to know is the way the price is travelling from down to up or up to down .
  • #208
  • Apr 1, 2014 4:39am Apr 1, 2014 4:39am
Quoting unimak
@hallowhead, since we know the level of 76.4 and 23.8 before hand, what is your suggestions to putting pending orders before hand . so that we get the perfect entry at the level mentioned ? sl and tp can also be punched in before hand . as per your system all we need to know is the way the price is travelling from down to up or up to down .
Absolutely - that's how I tend to trade abonacci - espcially as one of Bobi's phases is only 103 pips in length and TP is 40 pips. With Pure & Simple, I am generally trading phases that are 244 pips and higher. I do not mind missing a few pips either side - remember, we are trying to profit on a chunk of pips in a move between levels.
  • #209
  • Apr 1, 2014 6:45am Apr 1, 2014 6:45am
can we meet in skype : unimak12
  • #210
  • Apr 1, 2014 7:03am Apr 1, 2014 7:03am
Quoting unimak
can we meet in skype : unimak12
I'm going to have to say 'no' for the time being I'm afraid. I trade alongside running a business and have a large, very busy family (which is my main priority). I can respond and discuss via the forum/PMs and am happy to do so because I break up and control the time around my commitments. But individual or group skype is just a step too far in terms of time and commitment for me at the moment.

Also, I want as much to be shared openly. If you have a question, then chances are it is something somebody else is thinking/wondering or it has been answered in the thread (you'd be amazed how many questions I get via PM that are clear in the first post/page). If you have found something in the system that is work for you then I would encourage you to share it.
  • #211
  • Apr 2, 2014 12:26am Apr 2, 2014 12:26am
Dear hollowhead,
Thank you for sharing this strategy. I observe that I cannot upload the Abonacci Templates Manual on the New MT4 platform. What am I suppose to do to upload it. Kindly assist.

http://assets.forexfactory.net/images/attach/ex4.gif Abonacci Templates Manual v7-1.1.ex4
  • #212
  • Apr 2, 2014 3:38am Apr 2, 2014 3:38am
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
So whatever happen you will wait until SL or Tp hit ? not considering any PA on SR area ?

Like this EU Target is 1.38577 but now price make an engulf bar (on H4) and close below 50% level do you consider to cut your profit or let the trade run ? since we already move SL at BE by now (Entry @1.37389)
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  • #213
  • Apr 2, 2014 4:10am Apr 2, 2014 4:10am
Quoting Ravelt
So whatever happen you will wait until SL or Tp hit ? not considering any PA on SR area ? Like this EU Target is 1.38577 but now price make an engulf bar (on H4) and close below 50% level do you consider to cut your profit or let the trade run ? since we already move SL at BE by now (Entry @1.37389) {image}
Pretty much - they're too subjective for me. Look left and there is a massive bullish engulfing - change to the daily chart and their is a bullish engulfing following and IB. I've spent a huge amount of time flicking through charts, differing TFs only to end up being able to justify just about any position based on candlestick patterns and price formations. Having said that, there are some really obvious Weekly, monthly, TLs that I do pay attention to. I work on the basis that if I've spotted it, then everyone else has - and yes there will be reaction, and the market makers have created it, and know retail traders will react to it, so will it be a fake out etc? For me there are just too many questions that, if I am honest, I am just guessing at answers to. I'd rather take a position, set a target, if it hits, I profit, if it doesn't I take the loss, smile and move on. Learning how to lose a trade well was a major step forward in my trading.

In terms of BE - I don't always go there. There is no particular rational, if I see price is losing momentum I might look to lock some profit in, take some off the table etc. But this is very much a trader's personal preference. I think in some market conditions moving to BE can lose you profits, in others it can save your account. I will test BE scenarios when the EA is ready.

I wouldn't actually be (and am not) in the current EU long. Price hasn't come from the lower 76.4% level (1.36140) to qualify it as a long trade.

Steve
  • #214
  • Apr 2, 2014 4:11am Apr 2, 2014 4:11am
Quoting dare123
Dear hollowhead, Thank you for sharing this strategy. I observe that I cannot upload the Abonacci Templates Manual on the New MT4 platform. What am I suppose to do to upload it. Kindly assist. {image} Abonacci Templates Manual v7-1.1.ex4
Dare,

I just recently had the same problem. You can no longer upload templates or indicators the same way you used to with the previous mt4.
Now you have to open up your mt4 platform. Next at the top left of the screen click on file, then click open data folder, click MQL4, click indicators
and attach the abonacci template. Hope this helps.
  • #215
  • Apr 2, 2014 4:12am Apr 2, 2014 4:12am
Quoting dare123
Dear hollowhead, Thank you for sharing this strategy. I observe that I cannot upload the Abonacci Templates Manual on the New MT4 platform. What am I suppose to do to upload it. Kindly assist. {image} Abonacci Templates Manual v7-1.1.ex4
I'm not aware of anyone else having problems. Note that it is an indicator (even though Bobi names it as a template), so it needs to go in the MQL4/Indicators folder.

Steve
  • #216
  • Apr 2, 2014 4:13am Apr 2, 2014 4:13am
Quoting biganc
{quote} Dare, I just recently had the same problem. You can no longer upload templates or indicators the same way you used to with the previous mt4. Now you have to open up your mt4 platform. Next at the top left of the screen click on file, then click open data folder, click MQL4, click indicators and attach the abonacci template. Hope this helps.
Thanks Al
  • #217
  • Apr 2, 2014 4:35am Apr 2, 2014 4:35am
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
Quoting hollowhead
{quote} Pretty much - they're too subjective for me. Look left and there is a massive bullish engulfing - change to the daily chart and their is a bullish engulfing following and IB. I've spent a huge amount of time flicking through charts, differing TFs only to end up being able to justify just about any position based on candlestick patterns and price formations. Having said that, there are some really obvious Weekly, monthly, TLs that I do pay attention to. I work on the basis that if I've spotted it, then everyone else has - and yes there will...
Okay thanks for your explanation. so it likely set and forget skenario with set of rules you provide in page 1.

Thanks again for sharing this one i'll try to post my trade base on this approach.

  • #218
  • Apr 2, 2014 5:00am Apr 2, 2014 5:00am
Quoting sniperdebt
{image} Price travel from 23.6% level and break 100% level below Waiting price travel/break to 76.4% level for SELL and TP around 23.6%/100%
Thanks hollowhead for sharing this strategy.

Nzd/usd hit 23.6% level today, 100 pips
  • #219
  • Apr 2, 2014 5:02am Apr 2, 2014 5:02am
Quoting sniperdebt
{quote} Thanks hollowhead for sharing this strategy. Nzd/usd hit 23.6% level today, 100 pips
  • #220
  • Edited 8:15am Apr 2, 2014 7:54am | Edited 8:15am
@hallowhead. i went thru the orignal master's thread and also yours. there are certain things which are changed than the original and hence need clarifications

1. how murray math way incorporated into this system to find the base line ??

2. original boby thread did not reveal how he arrived at the baseline except that he used last year hlc .

3. 76.4 and 23.8 entry is fine but finding the base line is the crux of the entire system .


pls throw some light on this. I believe in what boby has said , just these things need to be clarified .
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