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Show me the money! [Swing Trading] Need some swing trading ideas? Want to share your own swing trade ideas? If you're the next Jerry Maguire and think you can show us the money, then this thread is for you. Also, discover your Forex trading personality in the School of Pipsology.

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  #211 (permalink)  
Old 02-03-2008, 02:56 PM
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Nope. I don't personally. Too much risk for a gap up or down past or thru stop loss levels. On fridays I only scale down and take scalp trades, and I stop taking 60 min, 240 min, trade thursday night so they have a chance to play out before the weekend.
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  #212 (permalink)  
Old 02-04-2008, 04:03 PM
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Thanks for explaining the fibs. so well. I've never used fibs before in my trading until now. I am only using the 1hr and 15 min timeframes. They are working fine so far. I hope to venture to the 4hr sometime but not right now.

Thanks for this thread daedalus. This thread has improved my trading. Which is always good!!

Thanks to all that have contributed and posted charts.

Trade well everyone!
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  #213 (permalink)  
Old 02-05-2008, 07:42 AM
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Fibs are extremal useful in the limiting of risk, breaks of each level allows you to re adjust your exposure, taking profits at the 23% and the 38% as daedalus proposed is having a greatly beneficial effect on my account. As such I'm losing a lot less but settling for a 1pip profit when the trade retraces on me. I was in a AUD/USD trade yesterday that i thought would continue its bullish run, i got stopped out today at b/e when it retraced.

Bottom line...fibs are awesome
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  #214 (permalink)  
Old 02-05-2008, 11:03 PM
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Yeah that other stuff is all well and good but...

does anyone know anything about Fibinocci retracements???

or is it Fibboachi...ok..so ..uh..Fib-o-nacho ..fibbinachi....

Last edited by jimbospeed; 02-05-2008 at 11:05 PM.
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  #215 (permalink)  
Old 02-06-2008, 07:40 AM
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Quote:
Originally Posted by jimbospeed View Post
Yeah that other stuff is all well and good but...

does anyone know anything about Fibinocci retracements???

or is it Fibboachi...ok..so ..uh..Fib-o-nacho ..fibbinachi....

Not to sound mean, but have you not read through this thread? Not sure what you are looking for. Do a little research.
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  #216 (permalink)  
Old 02-06-2008, 11:04 AM
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Quote:
Originally Posted by Trade It View Post
Not to sound mean, but have you not read through this thread? Not sure what you are looking for. Do a little research.
Hey sorry... that was actually a joke…. Just trying to be facetious...HA HA ha heh..gulp ..

OK that one laid a bomb….

But anyway…



Daedalus has a great comprehensive thread here and I was going to thank him for it when I got done. As it is some fifty pages long I haven’t yet. Fibb Retracements are not completely understood yet and are a glaring hole in my system…

A hole that I soon shall plug to make millions and billions of $$$$$ and RULE THE WORLD!!!!...Brew..hah ha ha ha...(evil laugh)

But really…thanks to all....

J.
Last edited by jimbospeed; 02-06-2008 at 11:06 AM.
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  #217 (permalink)  
Old 02-06-2008, 12:06 PM
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That clears it up a bit. I have never used fibs in the past. But I was always wanting to learn them as many traders use them. This thread has helped me understand fibs.

As far as the millions and billions...Good luck.
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  #218 (permalink)  
Old 02-07-2008, 03:20 PM
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Default Nice trade today
Did I set this up right? Made me some nice pips today. Tell me what you think. And I know, I got in early at the 38.2 retracement but I just couldn't hold out any longer.
Attached Images
File Type: jpg 38.2 retracement.jpg (54.5 KB, 50 views)
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  #219 (permalink)  
Old 02-07-2008, 10:44 PM
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Right idea, i obviously wouldn't enter on a 38 retrace, but yea, the logic is all correct. Grid is drawn correctly. Don't know if I responded to your last PM? Did we get everything sorted?
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  #220 (permalink)  
Old 02-07-2008, 11:32 PM
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Yeah we finally got it all sorted. I had to put the - infront of the 61.8 to get the take profit level above the 0 level. I was also wandering how big does the swing have to be to draw new grids? I heard somewhere it should be at least a 35 pip swing, is that accurate? Does the length in the swing even have anything to do with the strength of the levels? Just curious.

Thanks again daedalus for all your help.
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