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Fibonacci trading system for the ES
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Created: by Lmess Attachments:8

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Fibonacci trading system for the ES

  #21 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
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Please embed videos instead of linking them.

Check here:
https://futures.io/help-tutorials-how-tos/10537-how-embed-youtube-videos-post.html

Mike

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  #22 (permalink)
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Big Mike View Post
Please embed videos instead of linking them.

Check here:
https://futures.io/help-tutorials-how-tos/10537-how-embed-youtube-videos-post.html

Mike

Thanks for the link. The videos have been embeded.

I forgot to post the trading rules in a written format, so here they are.

Attached Thumbnails
Fibonacci trading system for the ES-fibonacci-trading-rules.pdf  
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  #23 (permalink)
Site Administrator
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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #24 (permalink)
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Fib trading

Lmess, do you have a interactive chat room during the day. Just want to make sure that I am learning your method correctly in real time. Also I trade CL, DAX, TF, and Euro. Is there any way that this could be caluculated out to conform to your ranges for fib levels regarding taking a trade or waiting for more movement. Sorry to bother you but I just want to learn your method. I know you trade the ES but I wanted to convert it to my other instruments. Also would the 610 tick be ok to trade on the other instruments that I mentioned.

Thanks
Hector

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  #25 (permalink)
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gulabv View Post
Lmess,

Awesome videos! Thanks for taking the time to share with us. You should consider joining the iPad2 contest by starting a new thread...

Was there a specific reason you chose to use 610 tick charts on ES?

Keep the videos coming!!

Thanks for your support.

The reason I use 610 Tick charts is that 610 is a fibonacci number and that it shows pivots that match my criteria specified in rule #1.

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  #26 (permalink)
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hector24 View Post
Lmess, do you have a interactive chat room during the day. Just want to make sure that I am learning your method correctly in real time. Also I trade CL, DAX, TF, and Euro. Is there any way that this could be caluculated out to conform to your ranges for fib levels regarding taking a trade or waiting for more movement. Sorry to bother you but I just want to learn your method. I know you trade the ES but I wanted to convert it to my other instruments. Also would the 610 tick be ok to trade on the other instruments that I mentioned.

Thanks
Hector

Hi Hector,

I do not have an interactive chat room.

I'm pretty sure this system could work with other contracts as well, not just the ES. The reason I use the ES is because my I like to keep my maximum risk per contract <= $100. In an instrument like the Euro, the swings are much larger than 16-28 ticks, so the risk would be greater. I will look into some of those contracts and try to find what a good distance would be, although I'm pretty sure the risk will be greater.

I'll let you know what I find.

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  #27 (permalink)
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Fib information

Lmess, thanks for responding back to my questions. Will await for your exploration of the distance numbers to use and what rules maybe to impliment. Also your videos on how you use the fibs is very helpful.

Thanks
Hector

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  #28 (permalink)
Market Wizard
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I like your rules and the fact you use the 50% ratio. This is in line with market auction theory. The 50% is part of the market profile and many other studies like median lines, Pitchfork etc.

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  #29 (permalink)
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This is the video for the analysis of 06/02/2011. I only took 1 trade when the market opened and in the video I talk about a rule I forgot to mention in the previous videos which is that I don't take trades where the stop is 3 ticks larger than the profit. The maximum I allow is 2 ticks.

@hector24 - I think it's going to take me some more time to try to establish parameters for some of the markets you mention.


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  #30 (permalink)
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I'm not so sure the market is going to provide any opportunities today as price has extended quite a bit from the NFP news release. We'll see what happens.

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