Gp's simple daily fibonacci-based system

I have a pending long on USDJPY. I'm not using a fixed stop loss with this one. I'm using a trailing stop of 50 points. Too many announcements coming out and I want to try and be in and out.

I have a pending long with AUDUSD. Green is entry and Orange is trailing stop 50 points

Thank you. I am following this thread. I have a question and I apologize if it is a stupid one! In the AUDUSD pix, the low don't seem to be accurate. We should take the 4am low as it was the lowest of the day?

I'm long on GBPUSD Red is fixed stop, Green is entry area, Orange is trailing stop and gold is profit targets

I have pending Long on EURUSD one hour time frame. Red is fixed stop, Green entry area, Orange is trailing stop and gold is the profit areas.

Subscribed!! This is my fav system. Thanks, gp00053.

Thanks glad you like it. As as I complete some personal business, I will be expanding the daily trade by adding exactly how I come to my post.
Again thanks. Best Wishes and Continued Success to you
Gp

i dont get it

can u make a video please?

That's exactly what I will be doing. Analysis from start to finish, then make the trade. In addition to posting the image, I will also post the video. I should be ready to go in the next 7 to 10 days
Gp

As long as it retraces past the 50% level I will be going long on CADJPY, Red is fixed stop, Green is entry area, Orange witll be trailing stop and Gold is profit area

Hello GP

Very similar trading style to what I'm doing. If you don't mind answering some questions I'd appreciate it.

Do you ever use fib areas to look for confluence to make a stronger case for a particular trade?

Have you read the book by Constance Brown "Fibonacci Analysis". I can see that you're incorporating a lot of her principles and some you don't. I think it'd be interesting if that was the case since I love the book and would like to hear why you chose certain elements and ignored some.

Thanks in advance!

Q. If you don't mind answering some questions I'd appreciate it. Do you ever use fib areas to look for confluence to make a stronger case for a particular trade?
A. Yes sometimes.

Q. Have you read the book by Constance Brown "Fibonacci Analysis".
A. No I have not. I was in a car accident 5 years ago which left me with a disability when it comes to reading. I read but can not comprehend and store what I read. I learn best by watching a video or other type of program.
In the case of fibonacci, it was not my first choice. I tried every approach to trading over the years and found this is the one I like the best. The actual mechanics I learned from this video I'm not vouching, endorsing any other product or service he or anyone associated with him are selling or offering directly or indirectly. Now having said that this is in my opinion the best video I've come across on how to apply the fibonacci tool.

Q. you're incorporating a lot of her principles and some you don't
A. why don't you list what we do the same and what I don't do that you like.
My basic trading philosophy is summed up like this
1, I love trading, the only thing I love more than trading is getting paid to trade
2. My out look is long term. More than just one trade, one session, one decision, one win or one loss. It's an accumulation of trying to put as many of the probabilities on my side that I can by making my decisions on facts, options and evils.
3. Nobody ever went broke closing a trade in profit
4. Stop trying to pick tops and bottoms, pick profit
5. % of risk is the only thing that counts; everything else is about balance of probabilities

Hoped that helps but for sure list what you like and I missed. After discussing we'll both be better traders
Gp
Drop by and say Hi on Skype forexgp00

I'm going to long on EURCAD. Red is stop, Green entry area, Orange trailing stop and Gold profit areas.

I will be entering a pending long on GBPAUD. Red is Stop, Green is entry area, Orange is trailing stop and Gold is profit area
I will be posting the video at how I came to this trade a little while later.

Here's the video for todays trade

The video is private, you have to change some settings on youtube.

This should work sorry for any inconvenience
Gp

I have a pending long between the 50 and 62% retrace levels. Lime is entry, Red is fixed stop, Orange is trailing stop and Gold is potential profit area.

I have a pending long on the GBPAUD. Green is entry area, Red is fixed stop, Orange trailing stop and gold is profit potential

I'm not sure if I will take this trade or not yet. I want to see price move a little closer to the 62% retrace before making a final decision. I've had a big week and with only 2 trading days left, I might take a pass. Anyway if I do this is what and how I'm trading. Green is entry, Red is fixed stop, Orange is trailing stop and Gold is potential profit area.
Long GBPUSD