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aliassmith
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Postby aliassmith » Sun Dec 06, 2009 4:29 pm

Added 1/6 lines to my normal Fibtool :shock:
So, Fib and 1/6 lines on same tool.
They show new s/r spots for confluence

Seems like just about every "method" I take a look
at can be broken down into:

1. Range
2. A Correction of some distance
3. Tests

The money in the bank trades seem to be when the
corrections and tests happen at horizontal support(supply),
resistance (demand), fibs, 1/6 areas. Just like trading
a small timeframe zline within a larger timeframe zline. (confluence)

Now if we think about all this in the context of "who is holding profit"
and "where did the big players put their orders" we can get a clearer
picture.

Thanks Mightyone for continually making my mind churn :D
Trade Your Way as Long as It Makes Money!

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MightyOne
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Postby MightyOne » Mon Dec 07, 2009 4:19 am

Braathen wrote:one more thing.. do you always follow the daily/weekly candlecolour? :) :)


I don't always do anything...

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Braathen
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Postby Braathen » Mon Dec 07, 2009 7:38 am

perfect :) sorry for the s**t question MO's .. sometimes i get carried away and write confirmation questions.. bad habit
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

frang0nve
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Postby frang0nve » Tue Dec 08, 2009 8:22 am

Last night GU move:



But I was sleeping!

Francisco

aliassmith
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Postby aliassmith » Tue Dec 08, 2009 4:01 pm

I see why MightyOne has a strong hatred for moving
stoplosses to break even. The "big boys" made a run
on my order 4 times before it moved in my direction.
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noone22
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Postby noone22 » Wed Dec 09, 2009 10:41 am

aliassmith wrote:The "big boys" made a run
on my order 4 times before it moved in my direction


Really?

I don't think, that "big boys" care to see your stops,
unless you're trading hundreds of contracts
or placing them, where the rest of crowd does
(at pivots, main Fibs, etc).

Even assuming, they have nothing more to do, than
hunting for your individual stops, what you could do
to protect yourself against these sharks?

Don't place stops at all?
Or maybe better - put them 4.5 pips above the pivot?

aliassmith
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Postby aliassmith » Wed Dec 09, 2009 2:13 pm

noone22 wrote:
aliassmith wrote:The "big boys" made a run
on my order 4 times before it moved in my direction


Really?

I don't think, that "big boys" care to see your stops,
unless you're trading hundreds of contracts
or placing them, where the rest of crowd does
(at pivots, main Fibs, etc).

Even assuming, they have nothing more to do, than
hunting for your individual stops, what you could do
to protect yourself against these sharks?

Don't place stops at all?
Or maybe better - put them 4.5 pips above the pivot?


Ya Right!

Do you really think I ment that they were trying to get my order specifically. Come on! The point of my post is that "the big boys"
are treacherous and seem to swing price enough to come back
and take out people that move there stops up. Sometimes they
actually go back deeper to get stops that have not moved up.

They got to get that momentum from the herd somehow.
Trade Your Way as Long as It Makes Money!

deeforex
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Postby deeforex » Sat Dec 12, 2009 4:50 am

Has anyone had any success trading binary options in conjuction with the 1/6 fibs? Could you please post some pics of what you did?

Thanks in Advance!
dee

Brookmyre
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Postby Brookmyre » Sun Dec 13, 2009 1:09 pm

Hi Mo,

why is 1/6 such a significant number?
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

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JESGPY
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Postby JESGPY » Sun Dec 13, 2009 2:08 pm

Guys..

I have been testing this 1/6 range approach MO showed us.
Its very good. I have been testing it with 8hs charts on the London Open.
Its pays good returns most of the days. I use Spot forex to trade it. Binary options as MO says could be used, but the IG markets demo didnt offer me strike prices that yielded the Risk/Reward ratios the makes the Binary Options interesting.


Any comments by MO or anyones are apreatiated.

JUAN

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