Gp's simple daily fibonacci-based system | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

I need an EA for my simple "Mother Candle Fibonacci System" 63 replies

Fibonacci levels based on Daily Range indicator 49 replies

A simple EMA based trend following system 8 replies

Simple MACD system based on 2 channels 122 replies

A simple trading system - based on creativity 6 replies

Attachments: Gp's simple daily fibonacci-based system
Exit Attachments

Gp's simple daily fibonacci-based system

  • #101
  • May 3, 2015 8:42am May 3, 2015 8:42am
I just posted this on skype to a new friend of mine. Not blowing my own horn, but it sounded so good I thought I would post it here.
"ust remember think long term and: consistency, patience and discipline. Never forget your trading doesn't depend on one trade, session or decision. But one bad trade, session or decision can be big trouble. Make your plan, stick to your plan and work your plan."
Gp
Nobody ever went broke closing a trade in profit
  • #102
  • May 3, 2015 9:00am May 3, 2015 9:00am
Subscribed with interest.
  • #103
  • May 3, 2015 12:10pm May 3, 2015 12:10pm
nice one will follow this thread
  • #104
  • May 3, 2015 8:21pm May 3, 2015 8:21pm
I'm going long on GBPUSD I'll place a pending long between the 62 and 50% retrace. Green is entry, Red is fixed stop, Orange is trailing stop and Gold is potential profit
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 29 KB
Nobody ever went broke closing a trade in profit
  • #105
  • May 3, 2015 9:28pm May 3, 2015 9:28pm
GP

Can you explain why you placed the zero line of the fib where you did. From the rules in post 1, I interpreted that the fib 0/100 would be between the previous day high and low, which I don't see in the GBPUSD proposed trade

Many thanks
  • #106
  • May 3, 2015 9:51pm May 3, 2015 9:51pm
[quote=gp00053;8241917]I'm going long on GBPUSD I'll place a pending long between the 62 and 50% retrace. Green is entry, Red is fixed stop, Orange is trailing stop and Gold is potential profit {image}[/quote

I m buying at between your stop and - 50pips with fixed SL @ 14996 and TP@ 15990- 16150.

GS.
  • #107
  • May 3, 2015 11:45pm May 3, 2015 11:45pm
Quoting gp00053
I'm going long on GBPUSD I'll place a pending long between the 62 and 50% retrace. Green is entry, Red is fixed stop, Orange is trailing stop and Gold is potential profit {image}
gp00053, I suggest to you that the GU trend on the daily chart, based upon lower highs, is still down. Should be looking for a short. My opinion. Also, GBP election is 3 days away -- risky pair until after the election. But your pending order (Buy Limit) probably will not be filled. We will see.
  • #108
  • May 4, 2015 11:17am May 4, 2015 11:17am
Quoting pakeha
GP Can you explain why you placed the zero line of the fib where you did. From the rules in post 1, I interpreted that the fib 0/100 would be between the previous day high and low, which I don't see in the GBPUSD proposed trade Many thanks
You are absolutely right. I don't know what I was doing or how I got the zero line.there instead of the high. I have to go to my analysis notes and see why.

But you're right previous day High and low
Nobody ever went broke closing a trade in profit
  • #109
  • May 4, 2015 11:23am May 4, 2015 11:23am
[quote=genghistar;8241980]
Quoting gp00053
I'm going long on GBPUSD I'll place a pending long between the 62 and 50% retrace. Green is entry, Red is fixed stop, Orange is trailing stop and Gold is potential profit {image}[/quote I m buying at between your stop and - 50pips with fixed SL @ 14996 and TP@ 15990- 16150. GS.
The fixed stop and entry area, is to keep the newer traders out of trouble. If you study this pair what moves it up or down, what the average days range is and use a smaller lot size you can generally keep out of trouble. You might have to hand on to the trade a little longer sometime but before you try it. I suggest follow the rules posted in this thread. But again I think in last nights case you could have entered between.

However for the guys that are new stick to the plan. Remember long term. Forget risking 1 trade, 1 sessio or 1 decission. This system is developed to guard your account balance while growing it.

Gp
Nobody ever went broke closing a trade in profit
  • #110
  • May 4, 2015 11:45am May 4, 2015 11:45am
Quoting EasyRyder
{quote} gp00053, I suggest to you that the GU trend on the daily chart, based upon lower highs, is still down. Should be looking for a short. My opinion. Also, GBP election is 3 days away -- risky pair until after the election. But your pending order (Buy Limit) probably will not be filled. We will see.
I thought about that at first, but thenI am an intra-day trader and trade the 1 hour time frame. For the way I trade the longer trends don't really matter as much as the institutional money is doing. If you look at the volume that will tell you the story. VSA analysis I think would say you have passed the mark down phase and are into the accumulation phase and the next phase is mark up






This is a great example of 2 traders looking at the same trade and seeing different reasons to go long and short.
Whose wrong; Whose right is not really the point. The point is analysis by your rules, then work your plan.
Thanks for the post
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 30 KB
Nobody ever went broke closing a trade in profit
  • #111
  • May 6, 2015 2:24pm May 6, 2015 2:24pm
Not being disrespectful but I am reading the thread from the beginning and came across this

The trend is down but you are placing buy orders
Could you clarify
Ps Really enjoy reading the thread

Regards Ray
http://www.forexfactory.com/attachme...1&d=1427161384
  • #112
  • May 6, 2015 5:55pm May 6, 2015 5:55pm
Quoting raylin
Not being disrespectful but I am reading the thread from the beginning and came across this The trend is down but you are placing buy orders Could you clarify Ps Really enjoy reading the thread Regards Ray http://www.forexfactory.com/attachme...1&d=1427161384
Pointing out an error is not being disrespectful. It's how someone points it out. where it can be disrespectful. So in this case not only is there no disrespect, but you correctly pointed out an error on my part. The pair is in down trend. I even have down trend in my notes and I've marked it as a short order. Thanks for the notice. Sorry if I cost you and money.
Gp
Nobody ever went broke closing a trade in profit
  • #113
  • May 6, 2015 11:06pm May 6, 2015 11:06pm
I have an alert to go long on AUDUSD between the Green area, Red is fixed stop, Orange is trailing stop and Gold is profit target.
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 28 KB
Nobody ever went broke closing a trade in profit
  • #114
  • May 10, 2015 8:53pm May 10, 2015 8:53pm
I will be long on USDJPY 1 hour TF. Green is entry area, Red is fixed stop, Orange is trailing stop and Gold is potential profit area.
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 33 KB
Nobody ever went broke closing a trade in profit
  • #115
  • May 12, 2015 10:16pm May 12, 2015 10:16pm
I'm going long on AUDJPY. I used support and resistance lines to apply my fib tool. I'm entering in the Green area, Red line is fixed stop loss. I'm also using a tight trailing stop loss for the whole trade orange area.
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 31 KB
Nobody ever went broke closing a trade in profit
  • #116
  • May 13, 2015 10:19pm May 13, 2015 10:19pm
I'm going long on CADJPY. Green is entry area Orange is trailing stop. I'm using a trailing stop of 100 points.
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 31 KB
Nobody ever went broke closing a trade in profit
  • #117
  • May 17, 2015 8:35pm May 17, 2015 8:35pm
Getting an early start tonight. I'm going to go long on GBPAUD Entry is in the Green,, Red is fixed stop, Orange is 100 point Trailing Stop
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 31 KB
Nobody ever went broke closing a trade in profit
  • #118
  • May 18, 2015 10:12pm May 18, 2015 10:12pm
I will be going short on the AUDJPY Fixed stop is red, Entry will be within the green and I will use a trailing stop of 100 points.
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 31 KB
Nobody ever went broke closing a trade in profit
  • #119
  • May 20, 2015 8:57pm May 20, 2015 8:57pm
I will be going short on AUDJPY. Green entry area, Orange 100 point trailing stop. Gold is profit target
Attached Image (click to enlarge)
Click to Enlarge Name: AToday.png Size: 34 KB
Nobody ever went broke closing a trade in profit
  • #120
  • May 26, 2015 10:55am May 26, 2015 10:55am
Hi everyone. I'm closing down this thread for now. I will not be posting or trading for the next couple of months due to personal reasons. Best of wishes to everyone and good luck with your trades
Gp
Nobody ever went broke closing a trade in profit
1 trader viewing now