trader zone, you better shut your mouth. if someone wants to teach for free it is already good enough. she had a good heart to teach us. if you disagree with her method, you better leave her forum and open your own forum. Usually people can not success because he/ she thinks, they are smart and don't want to learn from their mistake. Probalby you are one of them. good luck with your trading. please do not harrass people.
Ok, then lets stick to this screenshot. a) you seem to pick random high and low points (I dont know what they are called but I talk about those points that are at the ends of the white dotted line). Whats with those points, why did you chose those and not any others? b) your mentioned 135.73 turned out to be a resistance point at that time, ok fair enough. However, even on your own screen shot the market traded countless times through the same or other fib levels. For example 3/11 around "5" it shoots straight through the .50 level. It looks very random, meaning, of course there will by chance be points where the market reverses at fib levels. But there are tons of others where it does not reverse, making it a random exercise. Maybe you could shed some light into this? Thanks
is it possible you are confusing things? I dont know much about fib levels because I dont believe in those, but, you throw fibs and momentum into the same bucket? Are fibs not technical tools to spot support and resistance level, which is as far away from momentum strategies as it can be? Just wondering which trading desks you sat.......;-)
Well no. You can use Fibs to trade pullbacks and extensions. That is classic momentum. Look at the attached chart for of all things CORN. Just happened this morning and no different to what she is doing. Again Classic Momentum. I hate posting on ET about anything personal. Especially about 'where' and 'who' I have managed money for etc. The first place I traded was 990n. And that was way back when Brian Gelber was still running around trading fixed income....for the same firm. Figure out the name and maybe Amytrade will post a blurred bikini shot for us. I won't get into naming anymore names on ET --that only gets a bucket full of PM's. And I won't address the momentum ---is not Fib etc BS anymore. And yes it can all just be random bs ----but it is very profitable random bs. Or at least it has been for me and many others. Let Amytrade.
March 13th Trading Plan NZD/JPY Buy 50.14 to 49.85 NZD/USD Buy .5155 to .5130 AUD/JPY Buy 62.79 EUR/JPY Buy 124.39 to 124.00 AUD/USD Buy .6475 CAD/JPY Buy 75.39 to 75.13 EUR/USD Buy 1.2813 to 1.2800 GBP/JPY Buy 134.00 and Sell 138.50 USD/CHF Buy 1.1729 to 1.1674 EUR/CAD GBP/USD Buy 1.3850 and Sell 1.4100 to 1.4113 EUR/GBP Buy 1.9192 and Sell .9350 USD/JPY Buy 97.10 to 97.00 and sell 99.00 GBP/CAD USD/CAD Lightly sell 1.2855 and Sell 1.2952 to 1.2974
No unfortunately I was NOT in that amazing CHF move. I rarely if ever CHASE moves and by the time I saw it it was WAY over the distance of a move for me to even consider chasing. But in this instance it would have paid to throw risk management and concern about following my rules into the wind!