1mTrading Strategy journal

[1mTrading]

Hi Guys!
see my trades of this week

date:08-27-2009
Trades:6
pips:+65,2
total:65,2
08-27-2009 print



date:08-28-2009
Trades:8
pips:+34,5
total:+99,7
08-28-2009 print



next week I continue with the trades XD

[jwex]

I would love to know what strategy you are using? I too have only the patience and will for the 1m trades.

[1mTrading]

A lot of people draw the fibonacci in the tendency previous with expectation of foreseeing the supports and resistances. I wonder: so that I will know the resistances and supports, the price can beat in her and to break or to beat and to return, that doesn't guarantee me anything and it is not useful. It is easier then to put an EMA of 62 periods and to use common fort supports movable. To draw with the 100% in I begin of the tendency and the 0% in the end for me is wandered, because to hope the price returns and does it fall if it is much easier he to walk in favor of the tendency? George Soros says (I am not sure if it is him who says) “is not because the price already went up a lot that he won't arise more”. Follow the tendency if the price this going up the purchase then is the most favorable. See as I do:







After confirming begin of a tendency I draw the fibo hoping the price goes until the projections and I buy where I consider the best point the 38%. If the trade is perfect I almost guarantee a profit 3 times larger than the loss. But remembers this method should be used just in begin of a small tendency, a small tendency where the larger tendency is favorable.

does anybody disagree? I would like to know you point of view.

[1mTrading]

Everybody knows that the market has stronger days and weaker days some days to tendencies is of discharge others of fall and other the market is lateral. if the market has different movement size because you would define an exact goal.
Example: target for the signs is of 20 pips and the stop is of 15 pips.
In a day of market weak lateral 20 pips it can be very far for a target and you could finish losing, in a day of market with strong tendency 20 pips they can be few and you would be a low profit. With this argument on target I reinforce the use of fibonacci to choose the entrance point and exit, the fibonacci work with percentage and not with a number exact. The points are in agreement with the movements of the market when you will negotiate.

[1mTrading]

Originally Posted by KENNETH LEE

Which way you are using your fib doesn't have much bearing on your trade. The 38.1 % and the 61.8% are realativelly equal if swapped just a few points off. I can barelly see threw your green dot gut price did come a bit lower then your 38.1% mark. The rerason I would not run it that way is that the Majority of traders that use Fibs to trade use it the other way, and as your not trading against them but with them you should be on the same page. Plus the name of the tool is Fibonaci Retracement Tool. You can add your target levels to your tool by using a - sign to achieve the same goal. anyway my 2 cents good luck results look good.

If you are not understanding I will post some trades to try to explain the strategy, if you understood and it disagrees then tells me clearly as it draws the fibo.

[1mTrading]

date:08-31-2009
Trades:12
winning: 5 trades
losing: 7 trades
pips: 18,6
TOTAL: +118,3

08-31-2009 print

[TASSOS]

can you please explain all from the begining......


I only understund the duble tops...i cant be sure where i look for a short or long shot



please explain us if you use emas to draw up or down the fib


thanks

[1mTrading]

see this tutorial, see if you understand. if no I will try to explain for the topic =)

remind that a part of the strategy is composed by simple perception and practices with the market.

[1mTrading]

basically

[1mTrading]

pff. babypips have a lot of restrictions...