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  • #1,099,121
  • Mar 24, 2017 10:43pm Mar 24, 2017 10:43pm
last 2days very bad for me lost 1800$
and market is as it is
bad decisions total my mistake.hope will recover in comming week
IF U DONT KNOW DOES NOT MEAN IT DOES NOT EXIST
  • #1,099,122
  • Mar 25, 2017 12:21am Mar 25, 2017 12:21am
Quoting Don96
{quote} forex, very very rarely oil/gold/silver/SPX and i learnt mostly from videos/reading but predominantly from asking around on here
Agreed, if you read between the lines this forum is like giving you a free PHD in forex. Great traders are here with totally unselfish opinion, sharing their thoughts and insight. You get better in what you do being in this community.
Self discipline It is a practice
  • #1,099,123
  • Mar 25, 2017 2:19am Mar 25, 2017 2:19am
Quoting tstivers
{quote} Yeah I noticed that in your charts. Most of what you find looking up fib retracements talks about buying on the fib retracement in a trend and selling at some extension point. I've found that to be utterly useless. But if I drag fibs across a long term trend on say, the hourly chart, and then use those as support/resistance on the 15 min chart, it tends to line up. Probably try using that next week as I struggle to find support/resistance zones without ending up with lines every 20 pips on my charts.
I remove all my Fibs. Another trading disaster with Fibs. I don't ever try to use Fibs again.
  • #1,099,124
  • Mar 25, 2017 4:16am Mar 25, 2017 4:16am
Quoting tstivers
{quote} Yeah I noticed that in your charts. Most of what you find looking up fib retracements talks about buying on the fib retracement in a trend and selling at some extension point. I've found that to be utterly useless. But if I drag fibs across a long term trend on say, the hourly chart, and then use those as support/resistance on the 15 min chart, it tends to line up. Probably try using that next week as I struggle to find support/resistance zones without ending up with lines every 20 pips on my charts.
i buy and sell on certain levels once i have identified valid swings.. this is the hardest part, drawing the swing and placing the entry is easy

perhaps the swings you are choosing are too small... hourly has a lot of highs and lows/hh/hl etc... for example large tf fibs i have my firsy buy entry at x, the second one after that is a few hundred away usually... it isnt until a new high/low where i have condensed levels...

after a new high everyone who was a bear before changes to bull... those orders get filled then bigger orders sell and there is a usual retrace... its how i work

again if you want some examples then i am happy to do so, its how i learnt

Quoting frx_trader
{quote} I remove all my Fibs. Another trading disaster with Fibs. I don't ever try to use Fibs again.
closed mind, interesting. its because you dont know how to use them


i actually find it quite astonishing how many people slate them yet clearly they are so accurate...?
  • #1,099,125
  • Mar 25, 2017 4:34am Mar 25, 2017 4:34am
Quoting Don96
{quote} i buy and sell on certain levels once i have identified valid swings.. this is the hardest part, drawing the swing and placing the entry is easy perhaps the swings you are choosing are too small... hourly has a lot of highs and lows/hh/hl etc... for example large tf fibs i have my firsy buy entry at x, the second one after that is a few hundred away usually... it isnt until a new high/low where i have condensed levels... after a new high everyone who was a bear before changes to bull... those orders get filled then bigger orders sell and...
for example, here is an intraday example... based on the previous days range... the TP can be a new low or 50% with a stop just above previous day high...

the second example is exactly the same number but on a larger scale TF.... it is UJ 100.0x and is also the last time UJ was at that level... it would have been a 0 draw down trade... unfortunately i closed all my UJ trades out before the trump election... i was long from sub 100 3 times #

learn to use fibs on LARGER time frames before you use them intra day - you will get burnt more often than not, the key to using fibs is the RR, i have a lot more losers than winners... but i use 3-20 pip stop losses (usually 5/10) and i can TP after 500 pips...
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  • #1,099,126
  • Mar 25, 2017 5:27am Mar 25, 2017 5:27am
Quoting fasttrade1
last 2days very bad for me lost 1800$ and market is as it is bad decisions total my mistake.hope will recover in comming week
*hugs*

Losses are the part of this game we chose to play, it is how we accept them, and if we learn anything from them that matters the most.

Chin up, it will be better.
"Don't lose your cool, and you will fare well".
  • #1,099,127
  • Mar 25, 2017 5:28am Mar 25, 2017 5:28am
Quoting fasttrade1
last 2days very bad for me lost 1800$ and market is as it is bad decisions total my mistake.hope will recover in comming week
trading what pair? EU?
  • #1,099,128
  • Mar 25, 2017 5:34am Mar 25, 2017 5:34am
Quoting Don96
{quote} {quote} closed mind, interesting. its because you dont know how to use them i actually find it quite astonishing how many people slate them yet clearly they are so accurate...?
That's so true. I remove them, because they cause disaster in my trading. But, Fibonacci himself doesn't have any right to call me names. So who is closed mind?
  • #1,099,129
  • Mar 25, 2017 5:39am Mar 25, 2017 5:39am
Rawwwwr!!! Denied by the daily resistance once again! Bears are still here and they are waiting their momement.
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"Don't lose your cool, and you will fare well".
  • #1,099,130
  • Mar 25, 2017 5:40am Mar 25, 2017 5:40am
Quoting Don96
{quote} forex, very very rarely oil/gold/silver/SPX and i learnt mostly from videos/reading but predominantly from asking around on here
Good morning sir, sorry if i bother you but may i ask the source of these videos? Its really hard to find valid and complete guides where a beginner could study.
  • #1,099,131
  • Mar 25, 2017 5:41am Mar 25, 2017 5:41am
Quoting frx_trader
{quote} That's so true. I remove them, because they cause disaster in my trading. But, Fibonacci himself doesn't have any right to call me names. So who is closed mind?
does dononacci96?
  • #1,099,132
  • Mar 25, 2017 5:41am Mar 25, 2017 5:41am
Quoting diana91
Rawwwwr!!! Denied by the daily resistance once again! Bears are still here and they are waiting their momement. {image}
What a cute bunny drawing. I like it
  • #1,099,133
  • Mar 25, 2017 5:43am Mar 25, 2017 5:43am
Quoting frx_trader
{quote} What a cute bunny drawing. I like it
Why thank you! One of the moments I wish I had a stylus.
"Don't lose your cool, and you will fare well".
  • #1,099,134
  • Mar 25, 2017 6:01am Mar 25, 2017 6:01am
This is what I see on PA, taking into consideration the correlation on usdx chart.
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Self discipline It is a practice
  • #1,099,135
  • Mar 25, 2017 8:18am Mar 25, 2017 8:18am
Quoting Don96
{quote} closed mind, interesting. its because you dont know how to use them i actually find it quite astonishing how many people slate them yet clearly they are so accurate...?
some people do not need to know how to use them.
many ways to skin a cat. if it works for you then good for you.
there are other ways too.
be careful when you call someone close minded.
it could be you who is trapped in that mind set.
  • #1,099,136
  • Mar 25, 2017 8:45am Mar 25, 2017 8:45am
Quoting pkimnyc
{quote} some people do not need to know how to use them. many ways to skin a cat. if it works for you then good for you. there are other ways too. be careful when you call someone close minded. it could be you who is trapped in that mind set.
close minded saying it is a disaster when trying to trade with fibs... essentially saying they are useless...
im not saying everyone needs to know to use them... what i am saying is it is close minded-ness that says they don't work...

i am open minded... always adding to my trading to better it... ive gone from MA's alone to market profile, fibs, pivots, MACD all combined...

and if someone else can show me something else that works, i am open to using it...

you should find out what a closed minded person is,

the other way i can/could have interpreted the post is that he has failed himself using them, but the opening line was remove fibs altogether... close minded.
  • #1,099,137
  • Mar 25, 2017 8:59am Mar 25, 2017 8:59am
Quoting Don96
{quote} close minded saying it is a disaster when trying to trade with fibs... essentially saying they are useless... im not saying everyone needs to know to use them... what i am saying is it is close minded-ness that says they don't work... i am open minded... always adding to my trading to better it... ive gone from MA's alone to market profile, fibs, pivots, MACD all combined... and if someone else can show me something else that works, i am open to using it... you should find out what a closed minded person is, the other way i can/could...
I can also relate to his experience.
There are pros and cons, even fibs.
get caught in wrong timing or direction can cause disaster.
hence, in his point of view, it can be useless.
  • #1,099,138
  • Mar 25, 2017 9:00am Mar 25, 2017 9:00am
Quoting Don96
{quote} close minded saying it is a disaster when trying to trade with fibs... essentially saying they are useless... im not saying everyone needs to know to use them... what i am saying is it is close minded-ness that says they don't work... i am open minded... always adding to my trading to better it... ive gone from MA's alone to market profile, fibs, pivots, MACD all combined... and if someone else can show me something else that works, i am open to using it... you should find out what a closed minded person is, the other way i can/could...
imo, you don't really need that much.
just need to pick couple. keep it simple.
  • #1,099,139
  • Mar 25, 2017 9:08am Mar 25, 2017 9:08am
Quoting okshop
{quote} Agreed, if you read between the lines this forum is like giving you a free PHD in forex. Great traders are here with totally unselfish opinion, sharing their thoughts and insight. You get better in what you do being in this community.
very true! very unselfish people here
  • #1,099,140
  • Mar 25, 2017 9:09am Mar 25, 2017 9:09am
Naked chart + price action = Where the money is In my opinion indicators are all lies, especially in the shorter time frames.
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