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    Thread: ajagbeolegba's trading journal

    1. #191
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      Quote Originally Posted by ajagbeolegba View Post
      INTRODUCTION: I have being following some certain means by which traders are making success in the market, and i realized that Fibonacci is one of the key ones, and the traders that can trade it faithfully will make success through it. They are lines, and those lines are so powerful to either cause a meaningful breakout or repel the market price. Anyone that happens between the two will determine the what the market will do at any point in time.

      TIME FRAMES: Although, research has proven it beyond measures that Fibonacci trading system can work with any time frame. But i will confined mine between 4H-Weekly chart.

      STRATEGY: Just like the traditional way of trading the Fibonacci, i will follow the reaction of the market on its lines. However, i will focus more on three lines of the Fibonacci lines, namely: 38.2, 50.0 and 61.8.

      And as you can see on my daily live chart of the GBPUSD, the strong bullish thrust of the pair was not sudden, it was a rejection of 38.2 Fibonacci on the daily chart (The blue circled line), and after this, the pair began to climb up till this present time.

      https://i.imgur.com/TS6iArj.png

      CONCLUSION: Fibonacci is one of the most trusted trading strategy i know, i will try as much as possible to update it daily, so that all us here can learn and share ideas about this wonderful trading piece. HAPPY TRADING EVERYBODY!
      Hello, I have read through your Fibonacci journal and I have found it somehow worth the time and a bit interesting but there is more you can still tell us about it and give us clear pictures for better understanding like the three main lines you said you were going to focus on 38.2, 50.0 and 61.8 I couldn't understand how it works because there was no picture illustration, I all be glad if you can provide pictures illustrating it.


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    3. #192
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      Quote Originally Posted by patrech View Post
      I believe fibonacy is good analysis, I want learning support n resistance using fibonaci. Learning is the best way to success, because if so many traders who are losing their money today had learned, they wouldn't have been in lost, therefore I will advice us not to take trading not like a serious business, it is a serious business and the learning will make us understand more better on how it works and how to handle it.
      You are very correct on this, the Fibonacci trading strategy is very good, i have used it and known the magical power in it. When traders are working with it with extreme caution and good trading approach, the trader will have the skills to trade it well and earn their income where applicable. Forex traders that are working with the Fibonacci need to be watchful of using it on the high time frames too, that is where i see the promising result mostly in the market.


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    5. #193
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      Quote Originally Posted by catfish007 View Post
      even the trader that just came to start the market yesterday should know that the direction of the GBPJPY is down, and it will continue like that for a long period of time.
      Do you think a new trader that join the trading world will surely know what you know after spending more quality time acquiring knowledge and experience? Please let us not confuse and derail the newbies in our midst as the market is not something that easy to analyse and predict as it takes good knowledge of trading experience to arrive success.


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      shyammandal (02-25-2018)

    7. #194
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      Just of recent I have found interest in Fibonacci trading because it is one of the most trusted trading tool or strategy in forex which has stands the test of time. From my little experience in it, I think I will focus more on taking trades only in the direction of my trend indicator, I hope some of us can learn more from your updates


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    9. #195
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      Fibonacci Retracement does not show the market trend , but it is helpful for trader . Fibonacci show the maximum fluctuation of price , so it help us for exit point from trade . So that trader can take full of profit money and thus they can control their greed . If a trader have good knowledge about market trend then using Fibonacci , trader can earn big profit .


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    11. #196
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      in really congratulate you bro on your withdrawal in the market, when we make a good withdrawal in the market, this will also boost our confidence in the forex trading market, and in this line of work confidence is very much important, and a withdrawal is a good way to gathered a better trading confidence, 197usd is not a small amount of profit mate
      Do you think a new trader that join the trading world will surely know what you know after spending more quality time acquiring knowledge and experience? Please let us not confuse and derail the newbies in our midst as the market is not something that easy to analyse and predict as it takes good knowledge of trading experience to arrive success.
      bro, one is confusing each other in this forum , i think he is just trying to put it ironically, its just like saying even the blind man can know that the gbp/usd is on a bearish mode right now, so i dont think thee is any offending language in that, i think we need to understand each other very well


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      forexianz (02-26-2018)

    13. #197
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      Quote Originally Posted by ajagbeolegba View Post
      INTRODUCTION: I have being following some certain means by which traders are making success in the market, and i realized that Fibonacci is one of the key ones, and the traders that can trade it faithfully will make success through it. They are lines, and those lines are so powerful to either cause a meaningful breakout or repel the market price. Anyone that happens between the two will determine the what the market will do at any point in time.

      TIME FRAMES: Although, research has proven it beyond measures that Fibonacci trading system can work with any time frame. But i will confined mine between 4H-Weekly chart.

      STRATEGY: Just like the traditional way of trading the Fibonacci, i will follow the reaction of the market on its lines. However, i will focus more on three lines of the Fibonacci lines, namely: 38.2, 50.0 and 61.8.

      And as you can see on my daily live chart of the GBPUSD, the strong bullish thrust of the pair was not sudden, it was a rejection of 38.2 Fibonacci on the daily chart (The blue circled line), and after this, the pair began to climb up till this present time.

      https://i.imgur.com/TS6iArj.png

      CONCLUSION: Fibonacci is one of the most trusted trading strategy i know, i will try as much as possible to update it daily, so that all us here can learn and share ideas about this wonderful trading piece. HAPPY TRADING EVERYBODY!
      Hello buddy!. Welcome to this great section. We are here to share our trading performance. We hope that we can make good income from this business. Always stick to our trading plan always be happy when it comes to real trading. Well, just enjoy our business and earn good income from this business. Good luck buddy!.


    14. #198
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      Quote Originally Posted by shyammandal View Post
      Fibonacci Retracement does not show the market trend , but it is helpful for trader . Fibonacci show the maximum fluctuation of price , so it help us for exit point from trade . So that trader can take full of profit money and thus they can control their greed . If a trader have good knowledge about market trend then using Fibonacci , trader can earn big profit .
      Do not say that Fibonacci strategy is not showing the trend of the market, it is showing the trend, only that traders have to make sure that they use the price action with it on the high time frame, that is where they will know that they are trading the trend of the market and not the reversal. In fact, all the trading strategies that are working with the support and resistance principles are capable of trading the trend of the market, it is the trader that will have to learn how this works with that strategy.


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    16. #199
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      Another helpful journal, good luck mate. On my current strategy, I used fibo as retracement level, my 50% entry and to draw my current reward plan after I set the risk (SL) just below or above the "0 level". Below is the example for my recent position for AUDUSD.
      Although not exactly at its 50% entry, the target level for my reward has been determined and hit.

      My Trading Journal: Journey of a Sniper Trader


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    18. #200
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      Quote Originally Posted by mikehenley View Post
      Another helpful journal, good luck mate. On my current strategy, I used fibo as retracement level, my 50% entry and to draw my current reward plan after I set the risk (SL) just below or above the "0 level". Below is the example for my recent position for AUDUSD.
      Although not exactly at its 50% entry, the target level for my reward has been determined and hit.

      It is so good for traders to be working with a strategy that is powerful, the Fibonacci strategy is one of the strategies that will give traders the rest of mind in their trading. I think traders can also work more than the 50.0 level you said you are using, there are other ones explained by the thread creator here that is so good for traders entry. But if that 50.0 is the only one that is helping you to make money just use it. Also, make sure that you do not risk more than 5% of your account. Meaning that when you have $100, you should only risk $5 on Fibonacci trading per trade.


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