Macfibo system

[sufiansaid]

Hi Sufiansaid, I have been trying several trading strategies but I always come back to using the tried and tested MACFibo, I have tried using other indicators with it but haven't seen any real difference. I learnt that if you stick to the rules and trade the system like you said you end up getting good results.

Hello, I've discussed about modifiying or adding rules before. First post, it was about how important it is to validate this 'idea', 'new rule', 'modification' using specific process. If this idea shows potential, then you go on to move to the next stage of testing/verification, through obtaining performance statistics via manual backtesting etc etc over specific period of time bla bla bla...

Yes buddy, the Macfibo version that I've shared have been thoroughly tested and been traded live by me and several others for many years so I strongly advice you to do just ONE of the following :

a) proceed to your 'modified' version and test it in a specific process (you can search the thread, perhaps it is 50-70 pages back...) before dismissing the idea as 'not good' or 'no difference'. Honestly, this is a wide topic (Verifying a new created trading system or modifiying existing system) which I don't mind discussing it elaborately in the future. OR

b) trade according to the ver 1.2 rule and test it thoroughly via manual backtesting and acquire performance statistics (spreadsheet) for x number of test trades.

I have been very unsuccessful with the EUR/USD, which I know is because my stop losses are sometimes too small, I know some people who have very big stop losses to compensate but to me that’s an over kill. What I have been looking for are EUR/USD statistics to help me understand the average daily range of the pairs and what method to use to prevent me being taken out of the trade too early
Lastly I am looking at the different time frames to see what works for me but in your experience what is the best time frame for MacFibo (1hr / 4hr / Day)

As I've mentioned, you need to test this trading parameter. I assume your SL is either at 61.8 or 78.6. In all honesty, I am not a huge fan of putting stoploss unless you know what you are doing. People tend to put stoploss at a random level or according to their emotion.. which isn't the way to go. I believe stoploss level should be meaningful. Meaningful in the sense that 'if price hits that certain stoploss level, there is a high probability the trade setup has been invalidated'.. I set SL at 38.2 because it has meaningful value (apart from the fact that it gives me 1:1 risk/reward ratio which I can leave with) to me. The smaller your SL, the more likeliness it will hit prematurely. I am not saying I am anti-SL.. I just anti randomly put SL. I love 5x8 exit mechanism because it is closer to price action than a SL.. though I must admit you tend to lose more in one trade compared to an SL.

H1 and H4 has more or less the same winning percentage. How I trade D1 with Macfibo is not similar.

[sufiansaid]

Hi Sufian,
I have backtested a possible variation and it seems promising. The idea is to use a 5 period Hull Moving average instead of the 5EMA. Its rapidity gives better entry points...I should however backtest for a longer period of time I have done it so far only for the past 10 days...

Test this for the first month of 2012 or better yet in the month April 2012, and see if it performs better than the ver 1.2 Macfibo (you can refer to the Macfibo Statistics PDF in the first page) for Jan 2012 or April 2012. If it performs better by say 100 pips or more, then I much appreciate if you post it here as soon as possible. I am very interested but test it for January 2012 or April 2012 first.

[sufiansaid]

can any one pls tell me haw to back test i have read somewhere using f12 button creats new candle but i dont understand how to do it pls help

I am sure you can google this and will get tons of information. I am not sure which part you do not understand. You scroll back as far as your trading platform can, zoom in to maximum.. then press F12 (or if you use a dell laptop, you might need to press fn and f12 simultaneously.

[christinaa]

Sufiansaid should i have taken profit at S1 just now?
and do you strictly obey pivots?
thanks

[apfrezza]

Test this for the first month of 2012 or better yet in the month April 2012, and see if it performs better than the ver 1.2 Macfibo (you can refer to the Macfibo Statistics PDF in the first page) for Jan 2012 or April 2012. If it performs better by say 100 pips or more, then I much appreciate if you post it here as soon as possible. I am very interested but test it for January 2012 or April 2012 first.

hi Sufian, regarding the backtest. how do you do it? using Metatrader? it's a little bit boring with that.

[alfa2]

Yes, that is really boring. But better to be a bored winner than a not bored looser.

[kanmano]

I am sure you can google this and will get tons of information. I am not sure which part you do not understand. You scroll back as far as your trading platform can, zoom in to maximum.. then press F12 (or if you use a dell laptop, you might need to press fn and f12 simultaneously.

thku have googled the info

[sufiansaid]

hi Sufian, regarding the backtest. how do you do it? using Metatrader? it's a little bit boring with that.

Yes i use MT4. I dont find it boring, maybe others can help with you on that. I never find backtest as exciting in the first place so yeah. Anyone has other exciting way to backtest? Thanks.

[christinaa]

I started trading this system live today with my live account
and i hit my TP
good to know my first trade's a winner


Sufiansaid my broker platform doesn't have gold
what other systems do you trade?
I spent the last 2 days backtesting AUDUSD macfibo for the past few months, and different SL statistics, and apart from February its so so
Have you backtested GBPUSD macfibo?
Is EURUSD and GOLD the only pairs you trade with macfibo?
Thanks again for this system

[Fxdaselva]

I started trading this system live today with my live account
and i hit my TP
good to know my first trade's a winner


Sufiansaid my broker platform doesn't have gold

what other systems do you trade?
I spent the last 2 days backtesting AUDUSD macfibo for the past few months, and different SL statistics, and apart from February its so so
Have you backtested GBPUSD macfibo?
Is EURUSD and GOLD the only pairs you trade with macfibo?
Thanks again for this system

Hi Cristina, that was a really good signal. I got this one too...unfortunately I´m still on demo. I´m so anxious to start real trading. For how long did you demotrade before going real?