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    Thread: ajagbeolegba's trading journal

    1. #201
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      Quote Originally Posted by whiteliontrader View Post
      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.
      I am only using FIBO as were my entry and exit would be, I do not use FIBO to analyze the price chart.
      I have also a fix $10 Risk per trade even I have only $100~$200 capital, which is about 10%. and I always set my TP to 2R~3R, that even I have only a 50% win rate considering a 2R~3R, I will still end up profitable.
      My Trading Journal: Journey of a Sniper Trader


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    3. #202
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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!
      Yes the Fibonacci is a very good system to apply to our trading and also at the same time it works in all time-frames. In my own opinion it is going to give the most excellent Forex trade results in the Long term and Swing suggested time frames like Daily, Weekly and the Monthly Time-frame. If ** had a quarterly Time-frame, Then such a time-frame can be used as well by a Fibo trader.


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    5. #203
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      Quote Originally Posted by mikehenley View Post
      I am only using FIBO as were my entry and exit would be, I do not use FIBO to analyze the price chart.
      I have also a fix $10 Risk per trade even I have only $100~$200 capital, which is about 10%. and I always set my TP to 2R~3R, that even I have only a 50% win rate considering a 2R~3R, I will still end up profitable.
      I do not see any sense with your first sentence that states "I am only using FIBO as were my entry and exit would be, I do not use FIBO to analyze the price chart", because the expression is still meaning the same thing. Since you are using the Fibonacci for your entry and exiting, then you are using it to trade the market, there is no way you will not be using it to analyze the market chart too, this is what you have to take note my friend. Also, the Fibonacci trading system is a very good trading system, so traders will just be making money without any full stop to what they are doing, that is why i make sure that i use it no matter how confusing the market is.


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    7. #204
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      Quote Originally Posted by whiteliontrader View Post
      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.
      I have much challenges than experience with the Fibonacci trading strategy, though it is good for my earning, and i have many other ways of handing it that was not explained on this thread. For this reason, it is better for traders to learn all it takes about this trading strategy, and more of it that traders need to learn is its extension, that has some values that are not even quoted here at all. I like the narration you gave on the $100 and the $5 also, this is for traders to know the percentage (%) they will ever be using for a single trade.


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    9. #205
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      Quote Originally Posted by catfish007 View Post
      I do not see any sense with your first sentence that states "I am only using FIBO as were my entry and exit would be, I do not use FIBO to analyze the price chart", because the expression is still meaning the same thing. Since you are using the Fibonacci for your entry and exiting, then you are using it to trade the market, there is no way you will not be using it to analyze the market chart too, this is what you have to take note my friend. Also, the Fibonacci trading system is a very good trading system, so traders will just be making money without any full stop to what they are doing, that is why i make sure that i use it no matter how confusing the market is.
      the fib is a very good trading indicators which gives us some reversal point on the trendy market, though many traders may find it difficult to use, but i think its easy once we have full understanding of the indicators, its not a complex indicators where we will have to crack our brain to understand, i think ajagbeola need to do some work in enlightening people more on the indicator, and traders can also try to learn on their own


    10. #206
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      Quote Originally Posted by catfish007 View Post
      I do not see any sense with your first sentence that states "I am only using FIBO as were my entry and exit would be, I do not use FIBO to analyze the price chart", because the expression is still meaning the same thing. Since you are using the Fibonacci for your entry and exiting, then you are using it to trade the market, there is no way you will not be using it to analyze the market chart too, this is what you have to take note my friend. Also, the Fibonacci trading system is a very good trading system, so traders will just be making money without any full stop to what they are doing, that is why i make sure that i use it no matter how confusing the market is.
      thanks for correcting buddy, I'll take note of that, actually FIBO is not my core strategy on analyzing the market, but Fibo helps me to confirm and analyze where should be a logical entry and exit. Once I analyze the market and I've seen the current trend, I'll draw some significant levels, then if I see some signals or confluence of entry, I'll use FIBO to calculate where should I enter and also my target exit.
      My Trading Journal: Journey of a Sniper Trader


    11. #207
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      i have always admired to learn how to use the Fibonacci but at still we can still detect whats happening. gbpjpy has broken the the bearish trend but still there is no yet a strong confirmation it will be going the bullish direction because the bull movement is moving too weak, and i think i have seen some patterns like that before there should be a draw down before it starts moving up again, but the pair is acting too slow that is why i doubt the bullish trend will continue unless there is another confirmation.


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    13. #208
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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!
      my dear friend actually i dont know about Fibonacci trading journal.but trading journal is a very good way to show more and more trading strategy. so i am showing your Fibonacci trading journal strategy. Fibonacci working in every time frame so i will try to use it. thank you for share your strategy with us.


    14. #209
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      because this journal is based on Fibonacci, so I want to share setup using fibonacci retracement. for pair eurjpy, seen its new trend is bullish. so, for the next week starting tomorrow, it is expected that the price will make a bearish retracement until fibo level 50 at a price of 130,685 because there is a trendline. calculated in 60 pips retrace at fibo level 50 it. so after looking at the reversal candle at the fibo level, continue to take the buy position and for the first target is at fibo level 161.8 and the second target is until the fibo level near 261.8 at price136.306 near the significant support resistance zone (SSR)


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    17. #210
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      Quote Originally Posted by h_style View Post
      Attachment 75013

      because this journal is based on Fibonacci, so I want to share setup using fibonacci retracement. for pair eurjpy, seen its new trend is bullish. so, for the next week starting tomorrow, it is expected that the price will make a bearish retracement until fibo level 50 at a price of 130,685 because there is a trendline. calculated in 60 pips rera trace at fibo level 50 it. so after looking at the reversal candle at the fibo level, continue to take the buy position and for the first target is at fibo level 161.8 and the second target is until the fibo level near 261.8 at price136.306 near the significant support resistance zone (SSR)
      Lets see dear what happened to this pair in next weak as my charts are still neutral and show that it will remain in the same are where it spend its previous week. In fact there
      is no major player in this week which will boost enough this pair to break the range. may be we see a buy pattern of candle as you write but not in the first few days of the week


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