Journal to foster personal discipline while trading as a example for family and friends to see examples while they are also trading live accounts. Trading: ES, MES, NQ, MNQ, Both as Scalping and Hedged occasionally with Futures. Using Fibonacci Ratios and Pattern Recognition as taught by my Mentor, Larry Pesavento. Profitable and Risk Adverse system. Started on Monday, August 29, 2022 Charts will be explained and trades taken will be explained if questioned.
Interested to see; 15 rooms with "fib" in their name (dowfibs.com, estructuradelprecioyfibonacci.com, fibanalysis.com, fibnodes.com, fibolive.com , fibonacci.com, fibonacciqueen.com, fibonaccitrader.com, fibonaccitradinginstitute.com, fibotrader.com, fibozachi.com, fibtimer.com, thefibdoctor.com, tradingfibz.com) and none actually trade!
Your charts are very different from mine. Mine is very bare. I used to have thousands of lines/butterflies/triangles/rectangles ... until I could hardly see the candlesticks. Anyway, all the best to your trading & your journal.
Thanks @mason macgregorson for your post and mentioning the many "rooms" that appear to trade with the Fibonacci Patterns. I will be posting my use and most important, The Why, Fibonacci is so useful as a very valuable tool when determining high probability trades and the entry and targets that Fibonacci reveals. Your listing "rooms" that profess to be Fibonacci Trading "rooms" is evidence of the popularity of Fibs as a n identifier of Support /Resistance areas (fractal of course). Some experienced profitable traders point out that this may be considered why the Fibonacci could be valuable as a "self fulfilling proficy". Please allow me some time to fully clarify as this thread develops. Thanks again for your contribution Mason.
Thanks, @maxinger for your post of your chart. Yes, many may have "TMI" too much information which clouds decisions of trade setups with exact entries and exits. Note that "proper use" of the Fibonacci Drawing tools and patterns are base on price movement considering Both Price and Time. So identifying the time and type of bars is very important. (More on this as this journal (now only 1 day old -- develops) Thanks again @maxinger , for your contribution.
Thanks, @easymon1 -- Especially that you are an important contributor to ET with lots of Valuable Content.
With charts that actually "Talk" to us -- What may initially, appear as overly complex -- are readily understood and provide important Trade Decisions. Lot's more on this as time progresses and permits. (Open Minded -- approach to information presented is a courtesy -- thanks all and please allow me some patience -- This is a lot to initially grasp...)