Macfibo system

[sufiansaid]

I also profited on the first trade, but not as much, because my fib was set differently and the 1.618 line was lower on mine. Why did you set Point B of the fibonacci to that candle and not the low 9 candles ahead of it (which is what I did)?

I figured price had gone up and back down since that last low, so this would be my Point B

After I look at the chart 5 more times, I believe your Point B is more accurate than my Point B. I entered the trade via my iPad hence the clarity of the chart is beyond my control. I got lucky and [B]Yes, your Point B is the correct one. So guys, please disregard my Point B for the previous Buy trade. Thanks.[/B] Sorry for the mistakes… this just proves, even after trading Macfibo 1000 times… you still can make mistake. slaps forehead

[sufiansaid]

Thanks Sufiansaid for the 1.1 I really appreciate you helping us
And Sufiansaid how do you tackle the weekend, If a trade is still going and hasn’t hit the TP, but still hasn’t hit a 5x8 cross, do you just exit the trade before the market closes even if at a loss?

This is a very very good question.

1. First of all, I set a strict rule not to enter any signal during late hours of Friday’s London session (2-3 hours before close) so that normally avoids me from holding a position over the weekend. This ofcourse applies on H1 Macfibo trades.

2. For longer term Macfibo trade like H4 (signal came on Friday ofcourse), then I will just hold the trade over the weekend because Macfibo trades on H4 sometimes takes between 8 to 36 hours to complete (to TP or Exit).

3. If you enter a H1 Macfibo trade during say Asian session or Early London session in Friday and no exit signal even 1 hour before weekend close, then I’d suggest to manage your trade to minimize your risk as little as you can. Honestly speaking, ever since I have this rule stated in point 1), I never hold a trade over the weekend but in my early days trading Macfibo, yes… this what I’d do. I won’t close my trade but limit/minimize my exposure… say if price hangs around 127.2 before weekend close, than I would move my SL to breakeven… if you still in a loss, then I’d tightened my SL say 5 pips near the current price.

[B]EDIT : [/B]

Since I am on this issue (exiting trade without valid signal), here’s some situations when YOU SHOULD exit the trade IMMEDIATELY (regardless you are in a loss or win…) without the proper exit signal :

1. When you enter a trade and few minutes after that you are still asking for people like “Is that ok?” “Is my trade correct?”
2. After you enter the trade, you realise your PT A and PT B were wrong and price actually have hit 161.8 when you entered
3. You realise accidentally set the position size bigger than you should.
4. You realised you entered the trade NOT according to the rule
5. You enter a trade but suddenly you remember you will be busy in the next few hours (unless you have iPhone/iPad on the go)
6. You realised you haven’t slept for 2 days. Close the trade! Go to Sleep!

… thanks.

[Muneeb]

Hi Muneeb.

If it confuses you (SR Lines),[B] and this applies to everybody who finds S/R Lines Analysis more damaging to their trading progress[/B], to leave this analysis OUT of your analysis tool [B]for now[/B]. Or… just use previous day’s high low (without the rule of respecting the SR atleast twice) as their S-SR line. Probably it’s my fault not to write a clearer guide on S-SR Line (which I might have to re-write it again ).

Secondly, I’ve said it somewhere here in the thread that I am not rigid with S-SR Lines with Main Signal. I am VERY rigid and strict with S-SR Line application when it comes to Secondary Signal. Again, I should’ve made this clear in the guide (another reason for a re-write… pfft… hehehe). I still maintain S-SR Line Analysis avoid us effectively from entering a fake Macfibo but I can understand it can cause confusion most traders… so Muneeb and others who think S-SR Line is confusing, just leave it out… for now.

I thought you said, not to enter a trade when the signal is somewhat near to the SR Line. I m now confused

[luciferey]

oh… 10s a lots…

[marieks14]

Hi Sufian,

Quick question… I was thinking it would be good to set up a skype account where we can discuss real time discussions (but mostly to give entry and exit signals for the specific system)

Please let me know if this is something you would consider doing. I will be the first to join the group:

Skypename: mariexfred

[Muneeb]

Hi Sufian,

Quick question… I was thinking it would be good to set up a skype account where we can discuss real time discussions (but mostly to give entry and exit signals for the specific system)

Please let me know if this is something you would consider doing. I will be the first to join the group:

Skypename: mariexfred

I totally agree to this idea

[CryAgony]

We can meet up in babypips chat as well

[willowzed]

hello to all
first to say thanks to sufiansaid for sharing this strategy
now to question hehe …

as seen cross is forming on Usd/Jpy but there is a pivot point and a bit of support in the way
Considering macfibo 1.1 there should be no trade
my question is if 9 Am EST is closed below pp and support should we consider to go in the trade or not

[CryAgony]

No to me USDJPY is not a go.

Apart from pivot and obvious S on the way, mkt flow is bullish + confirmation candle still ahs to form on H1.

In this situation I’d rather look for buy signals, on short term.

Cheers

[willowzed]

No to me USDJPY is not a go.

Apart from pivot and obvious S on the way, mkt flow is bullish + confirmation candle still ahs to form on H1.

In this situation I’d rather look for buy signals, on short term.

Cheers

thanks for fast response

[CryAgony]

Harvested 30pips on nzdusd move up. and is now facing a strong R, will be lookign for short signals soon

[sufiansaid]

I thought you said, not to enter a trade when the signal is somewhat near to the SR Line. I m now confused

Buddy, just leave the SR Line alone for now.

[CryAgony]

Stupid broker is stupid! grrr! I got stopped out on a SL price… that was never reached!

wtf?

[sufiansaid]

Hi Sufian,

Quick question… I was thinking it would be good to set up a skype account where we can discuss real time discussions (but mostly to give entry and exit signals for the specific system)

Please let me know if this is something you would consider doing. I will be the first to join the group:

Skypename: mariexfred

Let’s start with chatrooms. I am not a good speaker, might confuse everyone. I’m open to suggestions. MSN? Basic chatrooms like babypips’ chatroom? What is the best time for everyone?.. Once a week thing?

[CryAgony]

I think babypips chat is the most immediate and easy for everyone

[goodpunk6]

I think babypips chat is the most immediate and easy for everyone

I concur. Maybe a macrobiotics room?

[richhand]

when taking a secondary signal do we wait until the crossover candle has finished or jump straight in at the crossover?

[cyanidez]

when taking a secondary signal do we wait until the crossover candle has finished or jump straight in at the crossover?

Hi richhand,

Any of the Macfibo signals is always on a confirmed, closed candle.

Happy tradez!

[OMFX]

hi sufian,
i just started reading and familiarizing your system about a week ago. it looks like a simple yet effective system… thank you for sharing. i have a question: assuming you have a valid activation candle, then you enter at the next candle. do you enter at the high, low, open or close of that candle?
thanks,
omfx

[OMFX]

Let’s start with chatrooms. I am not a good speaker, might confuse everyone. I’m open to suggestions. MSN? Basic chatrooms like babypips’ chatroom? What is the best time for everyone?.. Once a week thing?

hi sufian,
fyi: in skype, you can choose not to talk and use the chat function only, so it is like the chatroom in babypips.

omfx