Jumped in late setting up this trade but still pulled it off.
41.3 PIPS on EURAUD
34 PIPS AUDCHF
41.3 PIPS on EURAUD
34 PIPS AUDCHF
Tonight I chose not to trade the GBPAUD because the consolidation throughout.
Turns out to be a good choice as I would of been stopped out both directions.
GBPAUD is playing around with Resistance Line @ 2.001867 from Feb. 12th. Things to consider before hopping into a trade.
Turns out to be a good choice as I would of been stopped out both directions.
GBPAUD is playing around with Resistance Line @ 2.001867 from Feb. 12th. Things to consider before hopping into a trade.
{quote} Hi Phantom! Im a little bit confused. What exactly is ment with "session"? The first 11 hours of the day or 11 hours after market opening? Best regards, fegeme
Place all indicators in the indicator folder first.
Restart MT4 or right click on indicator list and hit refresh so they show up.
Open up EURAUD H1 chart and apply this template. This way you will see the FIBO.
The FIBO has all the levels labeled. Just adjust per previous day & session boxes.
Somebody bring over another wheelbarrow cause mine has overflowed today.
Trading done for today. Gonna go fishing.
euraud pips
43.7
41.7
70.8
38.7
eurchf pips
6.4
eurjpy pips
56.0
30.0
eurusd pips
43.0
22.0
gbpusd pips
36.6
37.4
usdchf pips
22.1
15.0
usdjpy pips
4.4
Total PIPS today
(London & New York Session)
397.0
EURAUD
EURCHF
EURJPY
EURUSD
GBPUSD
USDCHF
USDJPY
Trading done for today. Gonna go fishing.
euraud pips
43.7
41.7
70.8
38.7
eurchf pips
6.4
eurjpy pips
56.0
30.0
eurusd pips
43.0
22.0
gbpusd pips
36.6
37.4
usdchf pips
22.1
15.0
usdjpy pips
4.4
Total PIPS today
(London & New York Session)
397.0
EURAUD
EURCHF
EURJPY
EURUSD
GBPUSD
USDCHF
USDJPY
As a trader you have to have more than set-in-forget.
If the previous session is too tight, it is a good idea to use the entire last session to widen your FIBO so you don't hit your stoplosses to fast.
Look for Support and Resistance that will mess with FIBO Buys/Sells.
Look for trends and decide if you should expand your buy/sell in the opposite direction of trend.
News events occur frequently at London Open, so you may have to expand FIBO so volatility doesn't start both buy/sell and stopout instantly on both.
You decide if you want to use 11 hour or 23 hour for FIBO on each pair. Every broker and spread is different too.
Hope this helps your decisions when placing FIBO.
If the previous session is too tight, it is a good idea to use the entire last session to widen your FIBO so you don't hit your stoplosses to fast.
Look for Support and Resistance that will mess with FIBO Buys/Sells.
Look for trends and decide if you should expand your buy/sell in the opposite direction of trend.
News events occur frequently at London Open, so you may have to expand FIBO so volatility doesn't start both buy/sell and stopout instantly on both.
You decide if you want to use 11 hour or 23 hour for FIBO on each pair. Every broker and spread is different too.
Hope this helps your decisions when placing FIBO.
Somebody bring over another wheelbarrow cause mine has overflowed today.
How much time takes it to put all these orders in the charts?
It is tedious, for sure.
London Session:
First I draw the FIBO on each chart anytime during the day.
(Takes me 1 minutes for 10 charts)
Second I drop pending orders (x2 buy & x2 sell) well above the PA on each chart about 5 minutes prior to market opening.
(Takes me 1 minutes for 10 charts)
Third near one minute prior to market opening I drag the pending orders over the FIBO BPO/SPO
(Takes me 1 minutes for 10 charts)
Fourth I will look for any Support/Resistance, Trend, Divergence, retracements that would indicate to me to widen the stoploss targets or be cautious & delete pending orders.
Then modify the pending orders by adding BSL,SSL, BTP1, BTP2, STP1, STP2, Trail for TP2's on each order.
(Takes me 10-15 minutes for 10 charts)
Then I go to bed for a few hours and wake up for the New York Session and do it all again.
I use my judgment to allow London orders to run on, or close. Then add New York Pending orders as I did London.
So if I did it all at once, I would estimate about 18-20 minutes for 10 charts, or 2 minutes per chart. Easy since the numbers are already given on the FIBO. & LO Box indicators.
I hope I got all this info correct, LOL.
Tedious method, but the payout is worth it.. Now if I only had a SCRIPT or EA to do the work for me. 
London Session:
First I draw the FIBO on each chart anytime during the day.
(Takes me 1 minutes for 10 charts)
Second I drop pending orders (x2 buy & x2 sell) well above the PA on each chart about 5 minutes prior to market opening.
(Takes me 1 minutes for 10 charts)
Third near one minute prior to market opening I drag the pending orders over the FIBO BPO/SPO
(Takes me 1 minutes for 10 charts)
Fourth I will look for any Support/Resistance, Trend, Divergence, retracements that would indicate to me to widen the stoploss targets or be cautious & delete pending orders.
Then modify the pending orders by adding BSL,SSL, BTP1, BTP2, STP1, STP2, Trail for TP2's on each order.
(Takes me 10-15 minutes for 10 charts)
Then I go to bed for a few hours and wake up for the New York Session and do it all again.
I use my judgment to allow London orders to run on, or close. Then add New York Pending orders as I did London.
So if I did it all at once, I would estimate about 18-20 minutes for 10 charts, or 2 minutes per chart. Easy since the numbers are already given on the FIBO. & LO Box indicators.
I hope I got all this info correct, LOL.
Tedious method, but the payout is worth it.
. Now if I only had a SCRIPT or EA to do the work for me.
This morning example trades to place:
FIBO PARAMETERS: EURAUD
Using 23 hour previous session not 11 hour:
1.47223
1.43956
DROP 1st pending buystop 0.01 on BPO
DROP 2nd pending buystop 0.01 on BPO
DROP 1st pending sellstop 0.01 on SPO
DROP 2nd pending sellstop 0.01 on SPO
Fill in the BSL,SSL,BTP1, BTP2, STP1 STP2
Place a TRAILING STOP on 2nd orders not 1st orders
approx. 37.0 - SPREAD (My spread is 5.0)
(EXAMPLE 37.0 - 5.0 = 32.0 TRAILINGSTOP)
CAUTIONS:
RESISTANCE 1.46060
SUPPORT 1.44236
TREND IS UP
NO DIVERGENCE H1
PREVIOUS MARKET WIDE
NO HIGH IMPACT NEWS
SENTIMENT:
TRADE LOOKS GOOD WITHOUT MODIFICATION
Done with EURAUD H1, Probability is in our favor.
FIBO PARAMETERS: EURAUD
Using 23 hour previous session not 11 hour:
1.47223
1.43956
DROP 1st pending buystop 0.01 on BPO
DROP 2nd pending buystop 0.01 on BPO
DROP 1st pending sellstop 0.01 on SPO
DROP 2nd pending sellstop 0.01 on SPO
Fill in the BSL,SSL,BTP1, BTP2, STP1 STP2
Place a TRAILING STOP on 2nd orders not 1st orders
approx. 37.0 - SPREAD (My spread is 5.0)
(EXAMPLE 37.0 - 5.0 = 32.0 TRAILINGSTOP)
CAUTIONS:
RESISTANCE 1.46060
SUPPORT 1.44236
TREND IS UP
NO DIVERGENCE H1
PREVIOUS MARKET WIDE
NO HIGH IMPACT NEWS
SENTIMENT:
TRADE LOOKS GOOD WITHOUT MODIFICATION
Done with EURAUD H1, Probability is in our favor.
And BOOM!!! Success
2 wins
42pips BTP1
60pips Trailing BTP2
--------------------
total 92 pips this morning live account
oOOPS, I just noticed I placed my pending orders on the wrong line. Well a win is a win. You get the idea.
2 wins
42pips BTP1
60pips Trailing BTP2
--------------------
total 92 pips this morning live account
oOOPS, I just noticed I placed my pending orders on the wrong line. Well a win is a win. You get the idea.
LONDON RESULTS THIS MORNING:
GBPCAD
2.0 PIPS
12.4
GBPUSD
20.7 PIPS
1.0 PIP
GBPCHF
5.0 PIPS
1.0 PIP
EURUSD
52.5 PIPS
29.3 PIPS
EURJPY
49.8 PIPS
28.2 PIPS
EURNZD
7.9 PIPS
19.1 PIPS
EURAUD
42.0 PIPS
60.0 PIPS
---------------
TOTAL 14 WINS 0 LOSSES=
330 PIPS LONDON SESSION
GBPCAD
2.0 PIPS
12.4
GBPUSD
20.7 PIPS
1.0 PIP
GBPCHF
5.0 PIPS
1.0 PIP
EURUSD
52.5 PIPS
29.3 PIPS
EURJPY
49.8 PIPS
28.2 PIPS
EURNZD
7.9 PIPS
19.1 PIPS
EURAUD
42.0 PIPS
60.0 PIPS
---------------
TOTAL 14 WINS 0 LOSSES=
330 PIPS LONDON SESSION