Help On Fibonacci!

First, I must thank babypips for wonderful training here. You guys are great! All these training for free? Thanks a million times.

Please I need some clarifications.

In plotting the Fibonacci Retracement or Extension Levels, is there any software or indicator to download before it could show on the chart?

I tried severally by taking trendline from low to high of the day, but nothing showed up.

I will be grateful if somebody could help me out here.
Thanks in advance.

Can you clarify as to which software you are using?

That sounds like you’ve just drawn a trendline; that won’t work. :slight_smile:
You have to choose ‘Fibonacci’ on your charting package, to draw Fib levels.

If you use MT4, look at the 2nd (lower) of the two menu bars at the top of the MT4 window; Fibonacci is the 7th symbol of that menu bar, the one which shows some horizontal lines and an ‘F’.


Thank you very much. I got it right from you. I hope this picture speaks
about it.

fib.bmp (414 KB)

Once again thanks

Yep, looks like you got it right.

Trade well and prosper. :smiley:


Thank you very much.

Please don’t be agree. I need to get one info from you or from anyone here.
My Stop Loss refused to enter on the value I choose.

Can someone help me out once more?
See the picture below for illustration;
sl.bmp (328 KB)

I hope I am right by inputting my SL value
on the box with the red arrow.
Please if I am wrong, help me. I am tired of
staying in front of my system.

sl.bmp (510 KB)

You are welcome. I am also a newbie but have learnt a lot here.
So first thing first, go to the school of pipsology, it’s really a great place
to learn.
This morning, I think I got some little pips on Demo using the cowabonga
system. Once again, you are welcome.

Yes, that’s the right box for the stop-loss.
One reason why it hasn’t worked may be the parameters your broker has set for S/L and T/P.
There are certain minimum distances from the current price to S/L and T/P which you have to observe (see the line of text at the bottom of the MT4 window).


You are the bomb!!!
I mean, you are great. I got it right now.

lol, nice that I could be of assistance.

Even though, when I took a closer look at the screenshot you’ve posted, it appeared that your broker (Alpari NZ) doesn’t have this minimum distance between current price and S/L and T/P. Kinda weird that it works now.

Oh well, I won’t knock it … as long as everything works as it should, all is good.


Oh, one thing:
Once you start trading with a live account, blank out your MT4 account number (‘3810198’, at the top left of the main MT4 window) whenever you post screenshots … for security reasons. Not good if everybody can see it.


I believe MT4 has a minimum distance of 4 pips regardless of broker, might be wrong though.

That can’t be … my broker’s minimum is 2 pips (displayed as ‘20’, because, like yours, he quotes 5 digits).


Whoops like I said, wasn’t sure!

Well, thanks it worked. see my screen shut.
tp.bmp (297 KB)

I have been picking some pips today. I am grateful.
Before now, it wasn’t easy even with Demo. Thanks to you
all at babypips.
Oliver1968, you’ve made my day. Thanks.

Noted sir. thank you.