Macfibo system

Robopip unable to mechanize the system. Just to inform my readers here. Nevermind hehe.

Thanks Sufian, and thanks for the further analysis later on.

I’ve set a fixed SL at 2:1 R:R. I’ve done this to give the trade a chance, and will manually exit if 5 crosses 8. I’ve tended to set SL too tight and have been stopped out prematurely in the past.

I know there is trouble in Euroland at the moment, with Spain and now Italy, so am thinking this might affect the price, unless that is what triggered the signal in the first place!

I have found something which works with Macfibo

I use Stoch with these settings 10,3,3 MA Simple.

when 5MA cross 20MA, I watch my stoch if it is over bought or over sell, if it is over bought and the signal is giving a buy signal, I dont take the trade and it works. Same goes for Selling.

This is what I have found, you can back test it yourself and see if it works.
Have a look at USD CAD H1 chart of today, with Stoch you will see what I am talking.

I may be wrong, but this is just my 2 cents, to contribute

Too many SR Lines, how do I trade :confused:


OK - looks like I need to get out…

Good observation mate, but keep in mind that Stoch is an oscillator… so basing your analysis on it is wrong by principle. Look at it as confirmation, not as green light. Even more, check divergences, on different TF, instead of just overbought/oversold itself.

What shouldnt let you go into a trade and THEN let you open the indie to search confirmation, is price action: it’s never wrong :smiley:

For the stoch settings, I prefer using 14.3.3

But alot of efforts are required to learn price action, I m finding it very difficult… but hey I atleast I tried :frowning:

keep on trying! It’s really essential for what I’m seeing. Perseverance will get it betetr =)

Haha…Is really bored while waiting for signal, but sometimes i see the big candles move up and down quickly between a few minutes while you still waiting for the valid signal during the peak hour, i’m really really cant stand for it and hope to jump in to scalp for a ‘little’ pips before i enter the valid signal… hahaha… Besides that, i’ve tested your trading system, is really a good system!!! [B]REALLY!!![/B] And i know ist was out of topic if we discuss here, or can you just pm me your scalp style?

Thank in advance…

Regards,
luciferey

Anybody else using a platform that doesn’t allow you to alter FIB lines? I use Oanda’s, and they only have default fib lines, no 127.2 or 200.0. I’ve been using the Oanda platform for a while and am hesitant to change software just for the ease of custom FIB lines.

Does anybody have an easy way to calculate the extra FIB lines? Especially the 127.2? Typing all the info into a calculator is annoying, so I’ve mostly been visually cutting the space between 100 and 168 in half and then going a little closer to the 100.

Anybody going for the EURUSD trade that is setting up? I’m concerned about time of day…

Same concern here, I also have a SR line drawn right where the price is now:


Oh, good one! You’re right, it’s sitting at psychological barrier 1.3100 as well, so I’m just gonna skip this one.

I’d rather have more in my favor before just blindly jumping in. :slight_smile:

Good luck man!

Damn, I short it without taking SR into consideration…

Well hang in there man, looking like it is creating an inverse hammer - bearish!

I hope so it close like thiis

is there any consensus on entering a trade a few bars after the signal? Like the signal from two hours ago. Or is it best to strictly make/notmake the trade at the signal.

I ride the trade if it hasn’t touched 127 level

I agree with Muneeb. MA crosses already lags out a bit, letting you lose a part of the ride… entering even later than that… is risky!

Cheers


EU Buy signal is coming, but its close to the SR Line… Can anyone tell me is this SR line correct