I’m done with the lessons but still whenever there’s a topic that is related to Fibonacci really cracks me down. I’ve been reading it but I guess my mind is really having a hard time on it. During the quiz I got a good grade on the first take but when I am trying to use the Fib calculator here I don’t know what to put. Can someone give me simpler approach with it (I know the lesson here in babypips is already simple but I don’t know why I can’t still get it)
i knowfor sure it’s impossible to build up working profitable strategy based on Fibo, because it is has too much subjective interpretation… but you can win only with a very strict system.
What exactly are you looking for? Fibo levels are easily drawn in a chart and calculations done for you. Unless I am totally missing what you are trying to do I would say you try to make it to complicated.
My problem is how to get the resistance and retracement levels. The percent thingy where in you will get to solve for the fib calculator
I usually use fibo levels 50 and 61.8 . If my resistance level (zone) is inside fibo zone then it gives me extra confirmation to enter a trade
Every trading platform calculates them for you automatically.
You don’t actually use the fib calculator, if this is what you are talking about. On your charting software, such as MT4/5 you simply ‘pull’ the fib tool over your desired 0.0 and 100.0 levels. The rest is calculated automatically by the indicator as you will see. Have you actually opened a demo trading account yet, if not then this is why you are getting confused - it really is simple.
If you’re still having problems with fibonacci, check this out. How To Use Fibonacci Forex Trading, turn $2500 into $10000 in 30 days.flv - YouTube
If you want the Fib Expansion button on the MT4 toolbar and it doesn’t show do this Right Click The Customize button . When you see the window, select Customize > Fibonacci Tool click okay after that watch this short utube.
[B][U]I’m not recommending anything else in the video, but it’s a great video if you’re having trouble with Fibonacci. especially how to turn 2500 to 10,000 in 30 days [/U][/B] (I’m not saying it can’t be done, just like there’s also a chance I could have a full head of blond wavy hair in 30 days, but it’s not likely)
Good Luck
Gp
Thanks to all who commented now I understand Fibo. =)