Fib Retracement Trading...

[kagein]

how do you guys, make such clear attachments and keep it under the 2mb maximum? mine always seem rubbish..

[daedalus]

Originally Posted by tonymand

This trade is riskier than yesterdays in my view because of the failure swing at the low so we are no longer following lower low behaviour and this could be the start of a turn on the H1 but it is now a free ride

Boom. That was the problem with that trade. I still took it at the 75% level, but that means I moved to B/E once we took out the 50% level. So it came back up in my face, but i lost 2pips on it (the spread)... It was a great opportunity and thats what we look for.

When in doubt, reduce risk guys! I'm not talking about jamming stops after its gone 5 pips in favor, but when its stalling at a level and you're not sure, reduce the risk if you're worried. Now, the caveat to that is that you can stop yourself out much more often if you're crowding it too much. I really feel that you need to manage things consistently if you want this to work!

Originally Posted by kagein

how do you guys, make such clear attachments and keep it under the 2mb maximum? mine always seem rubbish..

You need to size them down to be under 700 X 700... otherwise the website reformats them and they lose quality when they are compressed.

[kagein]

would you guys trade the EUR/CHF hourly chart at the moment?

[tonymand]

[quote=daedalus;36809]Boom. That was the problem with that trade. I still took it at the 75% level, but that means I moved to B/E once we took out the 50% level. So it came back up in my face, but i lost 2pips on it (the spread)... It was a great opportunity and thats what we look for.


I moved above the last retracement high so got out with a small profit. Also note the various signals that told you H1 was turning. Important to have more than one approach in your arsenal and plenty of opportunity to get long especially after the immediately reversed bear candle, inside bar and break to a new high. Not posted here as not fib retracement but all about reading the charts

[daydreamer65]

Originally Posted by kagein

how do you guys, make such clear attachments and keep it under the 2mb maximum? mine always seem rubbish..

Depends upon what you use to copy your charts, I use
Print Screen, paint, then pixresizer, this reduces the size
of the file.

It is really again similar to trading, you try something different
then tweak to get the best results.

Pixresizer

Sweetpip, sorry how do you see your charts, approx.
12 indicators? Each to their own but I like to be able to
see price action. :lol:

[Sweet Pip]

Originally Posted by daydreamer65

Sweetpip, sorry how do you see your charts, approx.
12 indicators? Each to their own but I like to be able to
see price action. :lol:

I knew someone would comment on all my indicators

Everybody seems to reference the stochs & RSI so they seem to be a must.
I like the Zig Zag to help me find the swing highs and lows easily for the Fib grids. I like the bolinger bands to tell me when momentum or break outs could occur. I like the 4 HAS bars which can show me at a glance what trend the other time frames are in without having to flip back and forth or cram 4 teeny charts side by side. Ths PSARs also just visually define possible entry and exit points as does the awesome oscillator.

Mostly I am just playing with the software and learning about the merits of each indicator so eventually I figure I'll drop some or find some that work better depending on the pair and/or time frame and only use them there. I can still see the "price action" which currently for me is the candles and that little box at the right side of the graph with the price in it Besides it all looks better on my bigger screen than what the image portrays.

Originally Posted by kagein

how do you guys, make such clear attachments and keep it under the 2mb maximum? mine always seem rubbish..

I just right clicked on my chart in MT4 and it has an option to save graph as a picture, defaults to 600 x 800, and allows me to save to my hard drive in one of a few file formats ie gifs or bmps.

What I haven't found yet is where to put in my forum "signature" in my profile for my posts, or do I have to wait till I've passed a milestone in # of posts first before it will become available to me?

[kagein]

would you look at the trend for the day rather than the longer term chart when drawing fibs. yesterday i was looking at the eur/chf the overall trend seemed to be downwards but the trend for the day was upwards.

[daydreamer65]

What I haven't found yet is where to put in my forum "signature" in my profile for my posts, or do I have to wait till I've passed a milestone in # of posts first before it will become available to me?

50 posts is the key #

From tonymand's post.

Originally Posted by tonymand

Hi Sweet Pip - get rid of the indicators (you probably knew I would say that!).

As I said each to his own, we probably all went through a similar
phase but not all on the same chart at the same time. :lol:

[emmanolulola]

pls house,
i am new to forex trading and when i started trading i opened with marketiva but her server has not been always encouraging.Pls;
1. what other platforms do you recommend with a good server?
2.who do they refer to as buyers and sellers on the candlestick chart?
3.can one determine what will happen in the next candlestick chart (period) on the current one?
4.how do one knows if the buying or selling pressure is imminent?
hope to hear from you guys soonest.Thanks
ALL THE BEST

[Sweet Pip]

Originally Posted by kagein

would you look at the trend for the day rather than the longer term chart when drawing fibs. yesterday i was looking at the eur/chf the overall trend seemed to be downwards but the trend for the day was upwards.

Apologies if you have, but in case you didnt, the schools chapter on multiple time frames can be found here ’Long or Short?’ - 9th Grade: Multiple Timeframes - Beginner's Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com ... is a good refresher.