I am a little lost, how can you be positive at +27 with aud jpy (for example) while you bought just above the DP and just after market dives ?? Almost CSS doesn't inside 20 lines.
It's maybe stupid for u but it intrigue me
thx for your answer
| stevehopwoodforex.com https://www.stevehopwoodforex.com/phpBB3/ Print view |
|
| 10.6 EDSEL https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3259 |
Page 137 of 234 |
| Author: | nanningbob [ Thu Feb 27, 2014 9:46 am ] |
| Post subject: | 10.6 EDSEL |
You know in my early trading years I traded the 15M chart and constantly got my brains beaten in. Then I gravitated to the 1H chart and did OK until I would get whiplashed on a regular basis. It was win win win clobber, clobber, win win win , clobber clobber. Finally out of desperation I went to the 4H chart and at least stopped the bleeding and finally became profitable. I wonder if I ever went back to the 15M chart I could now become profitable. Be interesting to find out but I remember getting headaches watching the screen all the time. Now I just set my trades and walk away. Dont know if I could go back to that kind of trading again. Anyway, if you find yourself doing good, open a thread and teach guys how to trade the 15M chart using them green and red bars and see what happens. |
|
| Author: | sim2505 [ Thu Feb 27, 2014 11:45 am ] |
| Post subject: | 10.6 EDSEL |
I am a little lost, how can you be positive at +27 with aud jpy (for example) while you bought just above the DP and just after market dives ?? Almost CSS doesn't inside 20 lines. It's maybe stupid for u but it intrigue me thx for your answer |
|
| Author: | nanningbob [ Thu Feb 27, 2014 12:05 pm ] |
| Post subject: | 10.6 EDSEL |
I entered just above the 92.00 line. Anybody who knows my trading comments for over a year now has been sell JPY. I will continue this with every retrace. I look for it. |
|
| Author: | dudest [ Thu Feb 27, 2014 2:01 pm ] |
| Post subject: | 10.6 EDSEL |
Great call Bob! Cheers |
|
| Author: | fx800 [ Thu Feb 27, 2014 2:16 pm ] |
| Post subject: | 10.6 EDSEL |
Hi BoldTrader Thanks for sharing your trading strategy. Any particular reason why you use the two particular fib ratios ? Why not 1.236 and 1.789 instead ? peter |
|
| Author: | boldtrader [ Thu Feb 27, 2014 4:36 pm ] |
| Post subject: | 10.6 EDSEL |
Peter, Yes, specific reasons: 1) The Industry has been taught to accept 1.6185 and 1.272 as normal extension levels against a norm which may be used for potential reactionary price points. These price points can see be in advance and do have a tendency to be reactive price point levels. The specific number 1.6185 is a derivative of the Golden Ratio or Golden Mean. The number 1.272 is the square root of 1.618. This is a constant relationship which can be used on any time period. Yes, there are others that can be used, but with regards to markets moving to what are considered potential reactionary levels, these are the most widely used. Additional levels I monitor are 2.618, 0.786, and 0.618. One really huge example of the naturalistic tendencies of these numbers is the price of crude oil from June 2008 to December 2008 back when it hit around the $147.27 per barrel level. Over the next following 6 months after hitting the high, Oil traded down to a low of $32.40. Doing the math, and give or take a couple dollars, the price of oil traded down 78.6% of the range of $147.27 to $0.00. I remember buying WTCrude futures at $33.56 level and strong advising the same with a projection forecast back north to the $102 to $104.00 level. Why this price level? It is 61.85% of the range between $147.27 and $32.40. Since that call, price moved back up to $114.18 High in March 2011. Ever since that period, I have applied these numbers to all of the trading techniques I use. Since these are used for main stream industry, I monitor them to see what the "industry" may be doing and prepare for such turning points in advance. As I posted earlier, I am a huge student of Fibonacci and GANN Principles / Octaves and have been since early 1998. 2) Popular breakout strategies I use also include using 1.618 and 1.272 as target for range breakouts. My experiences show that if a market hits the 1.272 level and reverses without hitting the 1.6185 level, this indicates a strong reversal potential and thus trade accordingly. An example of this would be to measure a swing point Hi to a swing point Low. If a market were to drop to a new low and only trade down to an extension of 1.272%, this is an early indication of a strong reversal UP. These are typical patterns of natural occurrences on all trading instruments for all periods. 3) After using these for many years, I find it is not wise to bet against them. They just plain work. Hope this helps. Best regards, pips to all. |
|
| Author: | Mike [ Thu Feb 27, 2014 4:36 pm ] |
| Post subject: | 10.6 EDSEL |
Where do your Fib Numbers come from? I use the following attachment for reference. Mike |
|
| Author: | aserschan [ Thu Feb 27, 2014 5:04 pm ] |
| Post subject: | 10.6 EDSEL |
interesting reads about the fib-numbers. really very interesting. thanks to all!  |
|
| Author: | fx800 [ Thu Feb 27, 2014 5:09 pm ] |
| Post subject: | 10.6 EDSEL |
Hi BoldTrader, Your explanation is most educational and many thanks. peter |
|
| Author: | boldtrader [ Thu Feb 27, 2014 5:10 pm ] |
| Post subject: | 10.6 EDSEL |
Exactly.. see your own image posted. Also, 1.236 and 1.789 are not fibs, and not listed on your chart presented. Cheers |
|
| All times are UTC | Page 137 of 234 |
|
Powered by phpBB® Forum Software © phpBB Limited |
|