Clarification please!
I’m not quite sure about your entries, it looks like you wait 1 or 2 candles to close after the red crosses the black, at best looks like you wait for the gold to also cross the black ma.
I noted the places that I’m referring to on the picture. I would appreciate your clarification
Thanks.
The first one on the usd/cad was a winner, I’ve got this screen shot just before it hit the target, 15 pips.
The second one on eur/gbp is down over 20 pips so far, I’ve got my stop loss at the 50% line and it looks like it’s going to be a looser. I didn’t like that candle with a big wick on the bottom. Perhaps I should of held off a little longer. I’ll close it if I see the 5 ema crossing the 8sma if I’m home otherwise it will be stopped at the 50% line.
Yepe, the eurgbp exited with 28 pips loss. but I can see that it wasn’t a smooth setup. Market went too crazy for a couple of hours and then retraced, next time I will avoid this kind of pattern even if I get the signal to enter.
Oh dear… I dont use EA. Please dont ask about EA in this thread. Thanks.
Salam brother,
I suggest you download the PDF in the first page. In there I state what TF I use to trade this system and the statistics regarding which trading sessions are more profitable and least profitable.
No, i do not use other indicators to give me confiedence. I backtest, plan my trade and follow the plan : that gives me confidence.
There is a secondary signal, details in the PDF.
That is a correct entry point.
Go back to previous dates, as far as you can and try roughly identify any similar-ish patterns/setup and take note/log its outcome for eg no of times it hits target, no of times it did not hit target etc etc… You cant assume one particular pattern is not good only because today it didnt work… You have to back it up. Ice been there buddy so i understand what you are thinking but back up your decision with hard stats on the pattern.
Hi Sufiansaid,
do you have other indicator to make the trading with Macfibo more confident?
sorry for my bad english.
Here we go again, the only change I did it was the profit target which I had to choose 261 level, there was not much profit at 161 level which was about half of my risk. I have the stop at the 23.6 level, I just found out about the newly updated pdf file.
We will see how it goes!
Never had a chance! It was a good setup but I think for this system to work properly and to avoid this kind stuff is to never trade against the 4H time frame trend. By checking a higher time frame trend, in this case it is clearly a downtrend and by following the principle of not trading against the trend I would have avoided this loss.
I never look at higher TF as a way to filter entries/exits. Though it is not a bad idea though I can’t comment whether the result will be better or worse if you do that (checking bigger TF to confirm a ‘trend’). What you can do is modify the default trading parameters and backtest that parameters, see if the 2-3 year data result fits to your trading profile/objective
I mentioned this already. No, I do not.
MACFIBO LATEST TRADE
A valid secondary signal occured during early hours of Asian session. If you chose to TP at yesterday’s low, you would have 20-25 pips profit by now (hit TP). If you chose to let 5x8 exit mechanism to do the job for you (determine when to exit the trade), I strongly suggest to move your SL to alteast breakeven now (this suggestion never been mentioned in the PDF, but I am talking based on my experience here…)
Hello Mac
pls explanation for the Macfibo Daily?
am interested
cheers
which exponential averages are you using here
I would be interested too in learning about the MACFIBO Daily.
Hey Sufiansaid,
How are you doing? Hope you are doing fine!
I never stoped to trade your system my friend. It is very stable strategy and for me the profits are just what I need to be happy at the end of each month.
Trading D1 with macfibo looks very interesting, the only thing I would like to share with you is that by using this TF, you could have open positions for a long period of time, days, sometimes even weeks.
I think in the end of the month the total profit could be very close to the profits obtained on the H1 time frame, but with a much larger exposure to risk.
What do you think? Am I missing something?
Thanks again for your contributions!
Happy to hear that you find Macfibo suitable for you and you get profits consistently. Trading the D1 is different on how you trade the H1. I am still deciding whether to share this to public or to selected people only, as I find teaching people with a combination of criticial and open mind and prepare to work hard (backtesting backtesting backtesting) are easier and more enjoyable than the the only-criticial ones and also lazy to do the dirty work. I am more than happy to share this D1 Macfibo but I am still thinking to whether post it publicly (like posting it here) or otherwise.
…I mean I seriously doubt to those who stopped trading the Macfibo because they claim [U]it didn’t work[/U] was NOT based from after doing minimum 200 test/real trades. So yeah, I rather share this or any other versions of Macfibo to those who are ready to work as a team (you and me), backtest the current parameters, share your own modification and backtest it over 150-200 test trades and so on and so forth. :47:
