You're right. Here.... There's only a few signals he uses, but the ones he uses work well. You said "yeah but how often does that happen?" That's true, but some rather take 1 signal every few days that is guaranteed to work than 20 that offer 60 etc. That's all i'm getting at Gotta wait for the perfect setup.
"How often are there double bottom and double tops though....? " trade 6 major pairs x 5 , 15 , 30 and 60 min chart setups x 5 days x 24 hours toss in some 3 pip range bar charts and there are even more. 6 good trades on this pic. pick "em out...... s
Look most people don't understand what you are saying. Like I said, either demonstrate what you are talking about simply on a chart or don't even post things because nobody knows what you are talking about as you are speaking in riddles. I am glad you found a great system but if you can't explain it properly then keep it to yourself because you are just wasting your time. You are basically teaching how to take a derivative without explaining any of the rules just showing the work. Makes no sense.
"Look most people don't understand what you are saying. Like I said, either demonstrate what you are talking about simply on a chart or don't even post things because nobody knows what you are talking about as you are speaking in riddles. I am glad you found a great system but if you can't explain it properly then keep it to yourself because you are just wasting your time. You are basically teaching how to take a derivative without explaining any of the rules just showing the work. Makes no sense....." here's a guy in the 98% group. wants me to lay it all out for him and hand him the keys. open your eyes and study the pics. no one else seems to have issues. he is also going to tell me how to post this thread. i eat hostile traders for a snack. yum yum. go play elsewhere or i will have you removed........ s
If you are explaining your system of course I want you to lay it out DUH that is called explaining things. You are just posting nonsense with charts and a bunch of lines all over it. Wtf does that mean? People are having issues with what you are saying as someone didn't know what a .86 retracement was. But whatever go babble to yourself and post your magic charts I am just trying to help YOU out
I think what James is trying to say is, it would be helpful if your charts had more explanations on the chart itself and the chart was easier to read. It's hard to see what is going on. It might help if the charts were broken up into a couple screenshots and zoomed in some. SnagIt is a great program for taking screenshots and annotating charts. There are some other programs out there that do the same.
Hi Brownie, Haven't seen you in the old neighborhood, so I have to come over here to say hello. Basically, the op is trading fibs as the same way as I do (think for example, HIGH-LOW-LOWER HIGH), but he has the additional requirement that price retraces 86-100% of the first leg when making that "LOWER HIGH," and that his MACD shows divergence on the retracement. As for his entry, it is unclear whether he is entering at the market/limit based upon the presence of divergence at the 86-100 level, or if he is entering on a stop as price breaks the extreme of the first leg. If 100% is the "quit" line, then entering at market at or near that level offers a very small, well-defined risk, with a very attractive R/R profile to the targets he defined. I agree that the op could be more clear on the basic mechanics of the fib tool for the benefit of those reading along who are not familiar with its use as employed here. Otherwise, his method is a sound one. Best Wishes, Thales