Comments on: Daytrading the ABCD Fibonacci Pattern (Forex Trading)

By: fxKnight

fxKnight — Thu, 05 Nov 2009 22:34:06 +0000

this is a trade …
this is a trade form 2 years ago… I hardly remember. In general, I like to put my stops on the other side of the closest support to resistance level form my entry, with some padding to account for the spread + market noise. We have free videos on our website which will show you how to fine tune both your stops and your entries.

By: Mrbignutzful

Mrbignutzful — Thu, 05 Nov 2009 22:34:06 +0000

Thanks for sharing …
Thanks for sharing this strategy.
Question: where would you set your stop loss? 5-10 pips above “C”, where you get in?

By: 1yakko1

1yakko1 — Thu, 05 Nov 2009 22:34:06 +0000

This video is quite …
This video is quite comical to me. I understand the fib retracements and extensions, however, you must realize in a choppy market this would pretty much go against you. In a trending market, I agree, this would definitely work. Let me know how you trade gbp/jpy now a days. I’ve been trading it everyday for past little while, and what you are talking about…. ain’t gonna work man.
Not here to rain, just my 2 cents.

By: JudiBeaver

JudiBeaver — Thu, 05 Nov 2009 22:34:06 +0000

Informative video, …
Informative video, there is so many different methods and ways to successfully trade.

By: beemzet

beemzet — Thu, 05 Nov 2009 22:34:06 +0000

good answer
good answer

By: whiternoise2

whiternoise2 — Thu, 05 Nov 2009 22:34:06 +0000

Why? To get people …
Why? To get people to sign up for pro services which give a more in depth guide as to how to actually trade the system effectively. A ten minute video is cool, but you need more practice than three trades to get used to it.

There is little point in scamming people by teaching them how to use these systems, it takes ten minutes to open a demo account with any broker to test the theory out.

No doubt there are people who do this, but it’s relatively simple to check whether they’re bullshitting.

By: beemzet

beemzet — Thu, 05 Nov 2009 22:34:06 +0000

i wonder what is …
i wonder what is the point of spreading such videos? to be clearer, what does the host gain from this?
i think, some people convince others to follow these steps so that they (the former ones) would know for sure what others would do in certain situations and do the exact opposite. just a thought.

By: valkireable

valkireable — Thu, 05 Nov 2009 22:34:06 +0000

naw i had to …
naw i had to comment on passing…ya say “Only medium to long term trading makes money”….lol…i do 200+ a day…so i geuss 24 hour is long term…12 hour medium term!…thats’ funny…gees i use a version of ABCDs to…lol…i drop the D.

By: fxKnight

fxKnight — Thu, 05 Nov 2009 22:34:06 +0000

YouTube has a 10min …
YouTube has a 10min limit on videos. I also trade mostly medium-long term, unless I’m stalking a news trade (as in THIS example). Right now, I’m not taking long-term trades, as everything is either at or near key Fibonacci levels (I find Fibs to be more precise than simple round numbers), and I’m waiting to see how the weekly candle closes. I *do* also post my long-term projections, which you can readily find on DailyFX, FXStreet, BabyPips, ForexPros, and the International Business Times.

By: diffonyahoo

diffonyahoo — Thu, 05 Nov 2009 22:34:05 +0000

Hi,
i was …
Hi,
i was wondering if all trading platforms give fibs beyond 100%. mine seems to give only upto 100% so I cannot see 138 or 161 as in this video. please ignore my ignorance !