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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

  #51 (permalink)
Elite Member
San Antonio, TX
 
Futures Experience: Intermediate
Platform: SierraCharts
Favorite Futures: ES, 6E
 
Posts: 123 since May 2011
Thanks: 15 given, 97 received

This is a video I shot using the fib strategy on other markets without any rules as to what the minimum and maximum spread should be between pivots. The final results were:

6E-------3 Trades------20 ticks------$250 per contract
TF-------4 trades------54 ticks-------$540 per contract
NQ------3 trades-------(-11) ticks---(-$55) per contract
YM------2 trades------20 ticks------$100 per contract

Total-----12 trades--------------------$835 per contract

This using one target at 23.6% level, so there was no scaling out involved.

Here is the video:


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  #52 (permalink)
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austin, texas
 
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fibonacci

Lmess,
That's great that you tried it on other markets. Although I know there was no scaling involved you still had pretty good results. One market I did not see in the bunch was Oil. Just curious, is it to volatile.

Thanks
Hector

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  #53 (permalink)
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more lines instead of a calculator


thanks for a very methodical and detailed presentation of a system

if 2 lines were added to the fib tool at 43.4 and -11.8 it might save having to calculate on the fly the 75% from 23.6 to 50 and the half way between 0 and -23.6, respectively.

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  #54 (permalink)
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hector24 View Post
Lmess,
That's great that you tried it on other markets. Although I know there was no scaling involved you still had pretty good results. One market I did not see in the bunch was Oil. Just curious, is it to volatile.

Thanks
Hector

I've never considered trading CL as it is too volatile for me. I will see how this system works with it and will let you know. You can also draw fibs on it and share your findings with us.

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  #55 (permalink)
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svuhmed View Post
thanks for a very methodical and detailed presentation of a system

if 2 lines were added to the fib tool at 43.4 and -11.8 it might save having to calculate on the fly the 75% from 23.6 to 50 and the half way between 0 and -23.6, respectively.

Your welcome.

I sometimes just add a level at 45% to measure the 75% distance between 23.6 and 50, although I'm aware that the proper level is 43.4%. However, that line is not always necessary as are the rest, it is used when price doesnt quite make it to 50% but gets close; that's why I dont use it in my "regular" fib tool. If you want to use it, then it would save you from having to open the fib tool program I attached before. As for the half distance between 0 and -23.6, that's something I measure visually most of the time. In the ES it's easy because the distance between the 2 is usually no more than 2 points, per my rules. But for other markets, including those 2 levels might make it easier to measure the moves.

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  #56 (permalink)
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I took one trade today in which I was stopped out for a loss of 6 ticks. Then I stopped trading as I don't like to trade that much on OP EX week.


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  #57 (permalink)
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Like I said in my video, I did not take any trades yesterday and will probably not be taking any today. Price seems to have over-extended in pre-market hours. It just came back down to a 50% retracement off a 13 point wide fib. I would not have been looking to trade that retracement as it was too wide. Price made a swing 28.75 points wide during pre-market hours. That leads me to believe that it will probably be making wide swings throught this morning. I'll still be watching the PA though.

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  #58 (permalink)
The fun is in the numbers
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It looks like you have a well thought-out system and also well documented!
Thank-you for sharing it.

All the best!

Keep your mind in the future, in the now.
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  #59 (permalink)
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Thank you @aquarian1.

Here is how I traded today's moves in the ES. I took 3 trades. One was right at the open for +4 ticks, then took a loss of 5 ticks and one last trade for +4 ticks. So net profit for the day was +3 ticks minus commission for each contract traded.


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  #60 (permalink)
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For today I only took one trade for a 5 tick profit. Price then traded in one direction for the rest of the morning without any significant retracements. At the end of the video I discuss how I use the first low or high of the day regardless of if price made a lower low or higher high during the previous day's price action. Had I used the low made 2 bars before the first bar for today, I would not have gotten any trades. I explain this in more detail in the video.


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