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Project Spio Trading system & Journal -Deadly accurate


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Project Spio Trading system & Journal -Deadly accurate

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  #1 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Okay, This is a system which I developed, by mixing around indicators and learning a different way to use them.
This journal is a record of how my system develops and scores and the trades that I make will be posted here.

Okay, let's get started by describing my system:


Timeframe: H1


Project SPIO Trading system.

This system is incredible accurate and stop loss of being about 10 pips (3-6 pips dead accuracy)
Reason being is that it does not lag at all, you will be placing your trades at the end of a trend or at the end of a retracement, every time, no longer will you have to cope with big fat stops of 30, 50,80 or 100 pips just to wait out a few more retracements for being too late or too early.
(10 pips is to cover your spread and just in case you use emotions to enter the trade too early)

This system is based ENTIRELY on Fibonacci,
1 .It comprises of EMAs based on Fibonacci to as a dynamic support/resistance

2. It comprises of Fibonacci based Pivot points based on Fibonacci Extensions and Fibonacci Exhaustion cycles.

3. Then we have this indicator called Multi-wave W, Multi-Wave W is not a lagging indicator, it is actually a leading indicators. This indicator does not lag, instead, it actually leads Price Action itself.
Reason being is that, this indicator is actually a Fibonacci based indicator, as we all know, price moves based on Fibonacci and in Eliot’s wave theory. This indicator does just that, it calculates WHEN a Fibonacci cycle exhausts, and it goes deep into 5 or 4 waves and sub-waves to calculate out each independent waves’ Fibonacci cycle and extension levels.
Once we have all these waves’ Fibonacci cycles ending at the same time, the indicator indicates this as all the lines being converged together in a single dot and this pin-points just where price is about to make a reversal due to exhaustion of Fibonacci.
Therefore, all you have to do for Fibonacci-W is to look out for convergence at price extremes, above the -11 line for short and below the -89 for long.
Next, this indicator also indicates whether this move is just a mere retracement or whether it is a solid reversal.

4. Lastly, the fourth tier, we have the Multiwave-X, We have used Multi-wave W to place us into an entry. But how do we exit? Do we hold and let it run? Or do we exit with a mere 8 pips profit or -1 pips loss responsibly once we find out it’s just a slight retracement and that we’re too early by at most 3 bars?

This is where Multi-wave X comes in, Unlike Multi-wave W, the 3 lines in Multi-wave X are all individual lines and are in no way related to each other like in Multi-wave W, it is basically a compilation of several indications into one channel.
This indicator tells us the Strength, the longevity and the exhaustions of a trend, it provides us inside on whether there is a trend continuation or whether the trend has become a complete exhaustion, and it displays it all in just 3 lines and it is actually virtually easy to read SINGLE indicator.

This, accompanied with single price action formation bars, will bring you much success. I will continue on this in awhile.


For now: If you are interested in this system and want to use it, you can join me in my facebook page with just a few others on this remarkable system, and we can discuss much more there.

At now, I'll be posting how to use this system, entry and exit, and my trades using this system in this thread in awhile.






Descriptions Aside.
Let's get started:

To get started, first off, This guide is PRICE ACTION.
Although there are indicators, Don't be fooled, this are actually not indicators.

THEY ARE SUPPORT/RESISTANCE Based on fibonacci exhaustion points.
They are not only lagless but actually appear 1 or 2 bars BEFORE PRICE ACTION itself.

So all you have to do is, once you've spotted it, either wait for price action to finish or you place a reverse order at the fib-based pivot point cause you know the price will reverse right there and then so you dont have to wait price action to form and can reduce your stop loss to 6 pips or so.

TF - H1 and above.


1st tool - Price action itself.
There are many price action bars to look out for, we are just looking for trend weakening and reversal patterns.

2nd tool - Fibonacci based pivot point.

3rd tool - Multiwave - W

4th Tool - Multiwave - X

5th tool - Special fibonacci drawing technique.



Price action - Used to make trade decisions
(Sometimes I dont wait for PA to form since I know that the price will reverse once the other conditions are met and it touches the fibo pivot)

Engulfing bars.
Pin bars
Inside 4 bar formation

You should know what pin bar and engulfing bar is.
Desc of Inside 4 bar formation - An inside bar is formed and that it is the smallest out of the 4 previous bar including itself.

These are reversal signals to take note of.
I don't want to go in depth to price action, since I've already abandoned price action as this system actually moves faster than price action itself since its based on fibonacci - price action is based on fibonacci and eliot waves.



FiboPivots -

Its an auto pivot point indicator which places horizontal line at fibonacci areas, much more reliable than retail pivot points. Look at attached picture( green horizontal lines)
Is being used as Entry area and TP area.

Usage:
Entry: When all signals are OK on the multiwaves , its no surprise that the price is lingering around and approaching one of the fib lines.
These lines are like a MAGNET which attracts and repels the price.
PROVIDED THAT THE MULTIWAVE INDICATORS ARE READ CORRECTLY, We shall place an order in the direction of the multiwave indicator as soon as the price touches the fibopivots.

No need to wait for bar close, it will only increased your SL and that this system is !@#!@# accurate!

EXIT:
You get "profitted-out" to exit.
Whenever price moves through this line + 15 pips and closed ahead of it, you move your stop loss to the line that it has passed through +- 15 pips back. So it is like a trailing stop, and you get trailed out which is usually due to the cause of retracements, and you will then re-enter again at the end of the retracement.


Multiwave - W

The core of the system, Get's us in the right trades 85% of the time, when confluenced with the fibopivots and Multiwave-x, I have never ex[erience a losing trade before, 100% accuracy.
To be conservative, I'll just say 95% edge.

ENTRY:
SITG formation
Snake - in the grass formation.
Pictures included. cropped out from the attached larger picture

SELL:



BUY




What to see for?
this pattern here >


The lines converge into a single dot,
The tighter the better.
If possible, it has to be at the extreme levels,
Next it then goes down and uses the -40 or -60 line as S/R and goes back into the extreme level to form a V shape as seen.
Now, This SECOND ENTRY back into the extreme levels means that you can place your trade here as soon as it exits the extreme level.

Don't worry, it does not lag, in fact, price action has not even formed yet but you already have gotten the signal.

WHAT YOU DO NEXT: PRICE ACTION WILL FORM DIRECTLY AFTER THIS AND THE TREND WILL CHANGE TO THE INDICATOR'S DIRECTION, SELL IN THIS CASE.
Or, you can just place a pending order right at the fibot pivot to get in right at the tip of the trend



Usage to filter out noise and fake price action setups.

If the lines are all squigly like some crazed up spaghetti, this means that the price action being formed is just noise and that you should avoid it.
AVOID TRADING NOISE
Examples of noise below

Oohhh a price action to go down? NOT, ITS NOISE!



Noise telling you to go down. But market reversed after that.







OMG A PIN BAR GOING DOWN. LETS SELL THAT SHIT!
oops, it was noise.






EXIT: Use same pattern for exit, STOP AND REVERSE.

SUMMARY: Use pattern to enter, Use pattern to exit.


EXAMPLE TRADES




After:














Big picture.
Remember: The signals do not lag, they come before Price action!





Continue on further posts below.





Other details:
Accuracy: about 85% accuracy
10% are trades which are of -1 to -6 stopped.
5% are trades which hits the full 15 pips stop loss.
Rarely, just be disciplined and follow the system and you may end up with 100% accuracy.

Stop loss: about 15 pips.
Take profit: Depends on the strength, and the indicators
Can go from 90 pips to 500 pips.
Averagely 160 pips to 200 pips.
Therefore R/R ratio is about 1:10 on average.
Usually I get more RR cause most of the times I just set my stop loss to just 6 pips.

Attached Files
Register to download File Type: ex4 FiboPivots.ex4 (7.7 KB, 144 views)
Register to download File Type: mq4 FiboPivots.mq4 (6.1 KB, 149 views)
Register to download File Type: ex4 MultiWave-W.ex4 (3.5 KB, 139 views)
Register to download File Type: mq4 MultiWave-W.mq4 (2.0 KB, 172 views)
Register to download File Type: ex4 MultiWave-X.ex4 (8.3 KB, 122 views)
Register to download File Type: mq4 MultiWave-X.mq4 (6.4 KB, 150 views)
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  #3 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


Okay, this is a list of fib levels. For you to set your fib settings to

0.146
0.236
0.382
0.447
0.486
0.5
0.618
0.707
0.786
0.886
1.0
1.128
1.272
1.414
1.618
1.764
2.0
2.236
2.618
3.142
3.618

Basically, you can plot EMA lines based on these levels.
E.g for 0.618 fib level, you plot a 62 EMA line on close.
There you have it! A MOVING FIBONACCI LINE!

No wonder EMAs work! They are just bouncing off from fibonacci retracements and projections!

Anyways, go ahead and program this values into your fibonacci retracement tool

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Problem with Fibonacci retracement..

In drawing fibonacci retracement, there is no limit to how long it can be stretched, there is no definite answer.
And if there is no definite answer, all we can do is to just guess, and hope that the retracement ends right at THAT level, but what if it didnt, and that it was a retracement coming from a higher TF wave and not a retracement from your TF? You're doomed, it was a retracement from the daily chart's wave.



SPIO SPECIAL METHOD OF PLOTTING FIBONACCI:


Instead of plotting from the wick of the higher high to the wick of the lower low(as what "gurus" say)
Even though, we can't really get a definite answer on which is really the HH and which is the LL.


Therefore, this may offend you but.. This is the method:

In an uptrend, plot the fibonacci as you would in a downtrend on the retracements of the uptrend.
In the downtrend, plot the fibonacci as you would in a uptrend on the retracements of the downtrend.

The 261.8 level will be EXACTLY WHERE PRICE WILL FIND RESISTANCE/SUPPORT AT. Pip-ed Accurate.
Other levels include: 2.00 level and 161.8 level.
This happens sometimes to give you a "Second chance" to place a second trade to tp at the same 261.8 level.
OR You plotted the retracement too big, taking account 2 retracements at once ( plot only at the same colour)

You will also notice that any other retracement that forms during its path to 261.8 will most likely position its own size such that both retracements have the same Take Profit level, both at 261.8, or 1 at 161.8 and the 1st one at 261.8 converging together.

If a bigger retracement forms, this is a symbol of trend continuation, and you can shift your take profit to that bigger retracement's 261.8 level or 2.00 level.
You would also realize that the new bigger retracement's 261.8 level is actually the same as the previous retracement's 3.142 or 3.618 level.
Interesting heh? Everything in the market is related to one another.




This method can be used for: Finding future support/Resistance, Finding EXACTLY WHERE A RETRACEMENT WILL END BY PLOTTING a this method on a few waves before.

This method, is way better than fibonacci extensions/projections and retracements.
Extensions and Projections require that you know what fibonacci retracement it is being bounced up from, thats where the problem is because you don't really know which wave's retracement is the price reacting to.

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  #5 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Now that we have covered the fibo pivots, and the Multiwave W, followed by the special fibonacci technique.
Remember: this technique is used to take profit, and to predict future price support/resistance levels.

Now This post here will introduce you to Multiwave -X.

What is Multiwave - X?

It is made out of 3 individual indicators compiled into one channel.
It shows the Strength, the longevity and the exhaustions of the trend.
Simply put, it tells us when to let the trade profit run and when to stop and reverse.

Okay let's see what we have here.
We have 3 coloured lines. - No shit sherlock!


Yellow line -
Blue line -
Red line -


WORK IN PROGRESS

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  #6 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Now I will summarize it all up,

For entry and for exit, all the rules, all the methods to add in more contracts to your current trades etc.
*Space is reserved for future development cause I'm too tired to post all the strategies now*

Below is how your screen should look like.

As for facebook, You can join in our discussions at" Save the People Investor's organization " facebook page. Free.
Everything's free.

Entry:

Exit:









AFTER THIS POST, THERE WILL BE NO MORE TUTORIALS, JUST MY PREVIOUS POSTS WHILE TRYING TO FIGURE OUT THE SYSTEM.
In which I did, and now I'm posting it all here.

Tutorial end.
Enjoy trading!

In all things, give thanks. I don't want your money, I have enough, I just want your thanks.




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 Big Mike 
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1) Please confirm you are a vendor.
2) Please post all indicators you are using in open code format.
3) Please confirm that you have nothing for sale of any kind, no service, no consulting, no indicators, no system.

Mike

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


Big Mike View Post
1) Please confirm you are a vendor.
2) Please post all indicators you are using in open code format.
3) Please confirm that you have nothing for sale of any kind, no service, no consulting, no indicators, no system.

Mike


Hmm?
Vendor? I'm not selling anything.
I'm just listing down the development of my strategies here.

Hmm, the indicators might be copyrighted but I'll try to post them here once I think it's fine by the author.

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


Nasdin94 View Post
Hmm?
Vendor? I'm not selling anything.
I'm just listing down the development of my strategies here.

Hmm, the indicators might be copyrighted but I'll try to post them here once I think it's fine by the author.


I'll post the strategies in summary form and the attach the indicators on the 1st thread post once I've got everything in this system figured out,
I don't want anyone losing money cause its not completed yet.

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 Big Mike 
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Nasdin94 View Post
Hmm?
Vendor? I'm not selling anything.
I'm just listing down the development of my strategies here.

Hmm, the indicators might be copyrighted but I'll try to post them here once I think it's fine by the author.

What is SPIO Investors, since it is not you?

Mike

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
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Big Mike View Post
What is SPIO Investors, since it is not you?

Mike

Hmm, thats just the name of a group of me and my trading friends and we have a page on FB where we just post our current trades.
Everything's free.

As for the name
It's derived from the fact that we constantly donate our profits to charity.

There's no vendoring going around.

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r3algood
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Nasdin94
Singapore, Jurong West
 
 
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r3algood View Post


Hahas, its not really random lines.
This is not really an indicator but is actually a support/resistance indicator.

Once you see the price converges at the extreme levels, heads to the mid line, the -60 or -40 line, then it comes back down/up to the extreme levels, then you have a defnite signal to buy/sell.

You then place a buy/sell order right at the fibopivot.

No need to wait for Price action.
No need to wait for candlestick to close.

Stop loss is just 10 pips

Timeframe is H1 and above.
R/R ratio has always been at least 1:9 for me

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
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Nasdin94 View Post
Hahas, its not really random lines.
This is not really an indicator but is actually a support/resistance indicator.

Once you see the price converges at the extreme levels, heads to the mid line, the -60 or -40 line, then it comes back down/up to the extreme levels, then you have a defnite signal to buy/sell.

You then place a buy/sell order right at the fibopivot.

No need to wait for Price action.
No need to wait for candlestick to close.

Stop loss is just 10 pips

Timeframe is H1 and above.
R/R ratio has always been at least 1:9 for me

To add on, the only thing you have to look out for are the squigly lines converging together or goes into the extreme levels.

Ignore the squigly lines.
These indicates noise in the market, therefore, you will not accidentally place a bad trade based on noise because now you know, from the indicator, they are noise.

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 Big Mike 
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1. How long have you been trading this exact method?
2. Are you trading cash or sim?
3. If cash, how many cash trades have you taken?
4. If cash, what is the win/loss ratio of those cash trades?
5. If cash, what is your MFE and MAE?
6. If cash, what is your win/loss dollar ratio?

Mike

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


Big Mike View Post
1. How long have you been trading this exact method?
2. Are you trading cash or sim?
3. If cash, how many cash trades have you taken?
4. If cash, what is the win/loss ratio of those cash trades?
5. If cash, what is your MFE and MAE?
6. If cash, what is your win/loss dollar ratio?

Mike

1. This method has been used for 3 months. I became consistenly profitable since.
2. Cash - Started with $500 only.
3. Win/loss - Trying to be as conservative as possible, I'll just say, 15% of trades are losses, but at the same time, i'm not sure whether they should be losses cause its like -1 pip loss to quickly exit with when a signal comes wth multiwave- X. I'll touch on that later.
4. I have no idea MFE and MAE stands for. recent trades, on the eur/usd for example, stop loss was about 15 pips, TP 1 was 240 pips, TP 2 was 160 pips. I'm serious.
5. Win/loss dollar ratio, I think that was given in the previous line.


I'm still investigating this system now, I've been sticking to it for 3months, and am still trying to find any flaws to it.

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 kbit 
Aurora, Il USA
 
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This should be interesting.....I will not be surprised if you don't end up trying to sell something (this looks to professional). That being said I am familiar with a similar methodology and if you are not tossed in the recycle bin by Big Mike I will participate in this disscussion after you fully lay everything out and are vetted.
Kbit

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 Big Mike 
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Nasdin94 View Post
4. I have no idea MFE and MAE stands for

Click on the words above to find out.

Mike

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


kbit View Post
This should be interesting.....I will not be surprised if you don't end up trying to sell something (this looks to professional). That being said I am familiar with a similar methodology and if you are not tossed in the recycle bin by Big Mike I will participate in this disscussion after you fully lay everything out and are vetted.
Kbit


No, trust me ,its free.

I'll post the indicators now then.
Hoepfully I don't die of copyright.

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  #20 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Here are the indicators.

Enjoy.

It took much blood, sweat and tears, + some amt of money attending courses
To create the system today through much trial and error where I would find myself spend spending nights studying charts without sleeping.

Attached Files
Register to download File Type: ex4 MultiWave-W.ex4 (3.5 KB, 78 views)
Register to download File Type: mq4 MultiWave-W.mq4 (2.0 KB, 75 views)
Register to download File Type: ex4 MultiWave-X.ex4 (8.3 KB, 68 views)
Register to download File Type: mq4 MultiWave-X.mq4 (6.4 KB, 76 views)
Register to download File Type: ex4 FiboPivots.ex4 (7.7 KB, 61 views)
Register to download File Type: mq4 FiboPivots.mq4 (6.1 KB, 72 views)
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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Here:@ kbit
@ Big Mike

Trade journal:

I opened a trade today based on the multiwave - W indication pattern and I placed a buy order at the price pivot?

Guess what? You guess it, I entered the move right at the wick of the move
No need to wait for price action to react or I would have missed 30 pips into the trade and would have also used a bigger stop loss, which is at the wick.

Currently in the picture, you can't see my stop loss, I moved it to the fibo pivot line, which is about 3 pips stop loss.

my TP is at 1.38683 ( 180 pips profit)
It is located at the fibopivot R3 line

Currently trade is at 48 pips profit.






EUR AUD TRADE:

Hmm, price missed my sell limit which I placed. It was just 5 pips away but did not hit and therefore did not trigger.
Could have made 50 pips by now though,

Nevermind, I shall wait for a second entry.


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Nasdin94
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Posts: 128 since Oct 2011
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Now trade is in GREAT Profit. As usual.
But we both know, where the price will stop at. Hehe.

Huh? Where? Use the SPIO fibonacci drawing method to find out, the price will stop at the level which confluenced with the fibopivot.

I have not moved my stop loss yet, I should better move my stop loss to the 1.3805 line now - 15 pips.
Which is 1.3790



EDIT:

I was "Profitted out" with a 120 pips profit.

However, this is good, because I know, that I had exited the trade just before the retracement develops.
At the same time, I know that this is a retracement, despite the price action being formed currently, the indicator has yet to make a SITG pattern and is not in the Extreme levels yet therefore, the bullish move has not ended yet.

So, I'm looking foward to re-entering the trend, using the Multiwave-x indicator and SPIO's fibonacci method as the price has yet to hit the 261.8 level therefore it is probably moving down first so that it can recuperate its strength so that it can go higher till the 261.8 level

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Nasdin94
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Hmm. The euraud trade that I missed when on to became a 100 pips profit trade.
Unfortunately, price nearly hit(but missed) my sell order.
I shall learn from this and place my sell order a bit lenier.
At the same time, this means that I need to widen my stop loss to 20 pips.

New trade currently: I am in the GBP CAd since 1.5990.
YEP, If you checked the charts, its right at the wick of a price action bar.
And I didn't evem waited for PA to form, just placed a buy order at the fibo pivot point.
SKipping candlestick close means that I earn an extra 15 pips.

Trade currently doing well, at 74 pips. However, I see a retracement coming soon.
TP is at next FP, which is R1 @ 1.6080.

Too lazy to post a picture, I need to go to sleep ASAP. You can check out what i'm talking about by dling the indicator and attaching them to the GBPCAD H1 chart.


EDIT: I exited the GBPCAD H1 trade, with 66 pips profit, mainly because I found a better trade on the EUR USD and that I have already seen that this GBPcad trade will reverse soon, so its better to TP now instead of waiting cause I need to go to sleep and I might miss it.

Lets wait for SITG pattern to form in the EUR/USD XD

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Nasdin94
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EUR USD TRADE 21 10 2011

The system just keeps doing it!

Entry at POR ( POINT OF REVERSAL)

Entry was placed at the fibopivot line in confluence with the Multiwave W
And multiwave X indicating exhaustion of bearishness
Stop loss : 15 pips]
Current profit 25.
TP : 55 pips ( Long term bearish trend present, so this is probably a retracement on the higher TF.) Fibo S1 line in confluence with SPIO specialf fib plotting method.
RR: 1: 3.6




Note: This trade is a very reckless trade.
I have moved the SL to breakeven.
I know that this is a retracement yet I entered on it.
SITG formation did not form completely.

Reason being: I just wanna place dem trades and go to sleep.
Ciao!

P.S I just increased my capital by 44% in just 3 days.
Since I have an MM of 2% and that my stop loss are measly 10-25 pips.
My average RR per trade is then about 1:5 - 1:12
meaning, for every trade, my account explodes by 10- 24% increment.
woot


EDIT: My trade has hit take profit while I slept of 58 pips, but I realized it could have been 110 pips profits if I had set my take profit higher, more things for me to learn here

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Nasdin94
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Nasdin94 View Post
Now that we have covered the fibo pivots, and the Multiwave W, followed by the special fibonacci technique.
Remember: this technique is used to take profit, and to predict future price support/resistance levels.

Now This post here will introduce you to Multiwave -X.

What is Multiwave - X?

It is made out of 3 individual indicators compiled into one channel.
It shows the Strength, the longevity and the exhaustions of the trend.
Simply put, it tells us when to let the trade profit run and when to stop and reverse.

Okay let's see what we have here.
We have 3 coloured lines. - No shit sherlock!


Yellow line - *Removed*
Blue line - *Removed*
Red line - *removed*


WORK IN PROGRESS

Cancelled sharing, I have received numerous complains and voice outs from the other Spio investors, and my father, that I should not be sharing much of my method here.

Therefore, the thread will cease posting tutorials and methods

However, It will still continue to as a journal

On the contrary, I will not be removing the current methods which have already been shared so far, so they are still available. But, this places an end to the tutorials of my system.

Now, its a 100% journal.

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 kbit 
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Nasdin94 View Post
Cancelled sharing, I have received numerous complains and voice outs from the other Spio investors, and my father, that I should not be sharing much of my method here.

Therefore, the thread will cease posting tutorials and methods

However, It will still continue to as a journal

On the contrary, I will not be removing the current methods which have already been shared so far, so they are still available. But, this places an end to the tutorials of my system.

Now, its a 100% journal.

Why did they advise you not to share ?
Everyone is held harmless here...there is nothing to fear

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r3algood
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Nasdin94 View Post
[SIZE=2]I don't want to go in depth to price action, since I've already abandoned price action as this system actually moves faster than price action itself since its based on fibonacci - price action is based on fibonacci and eliot waves.

@Big Mike
@kbit

It boggles my mind the number of people who trade their indicators instead of trading the market.

Trade your market, not your indicators.

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 kbit 
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@ Big Mike
@ kbit

It boggles my mind the number of people who trade their indicators instead of trading the market.

Trade your market, not your indicators.

No offense but don't think just because we play around with various indicators and other methodologies doesn't automatically mean we base trade decisions on them. I can't speak for Mike but I can say I am a PASR trader at the core but I like to see what others use and do to perhaps compliment what I do or maybe give a slight edge. Be careful ASSUMING things ....you know the saying don't you ?
P.S. how did you learn your methodology....didn't you do a little experimenting yourself ?

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 Big Mike 
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r3algood View Post
@Big Mike
@kbit

It boggles my mind the number of people who trade their indicators instead of trading the market.

Trade your market, not your indicators.

No clue why are you directing this at me.... I've been screaming at the top of my lungs for years to stop all the indicator craziness. I am only in this thread because it looked like a scam. I am here in moderator capacity. I have zero interest in the method.

Mike

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r3algood
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kbit View Post
No offense but don't think just because we play around with various indicators and other methodologies doesn't automatically mean we base trade decisions on them. I can't speak for Mike but I can say I am a PASR trader at the core but I like to see what others use and do to perhaps compliment what I do or maybe give a slight edge. Be careful ASSUMING things ....you know the saying don't you ?
P.S. how did you learn your methodology....didn't you do a little experimenting yourself ?

Oh dude I always have an indicator or two on my charts, and I've played around with my methodologies more than I could possibly count. What I'm saying is that as traders we can't ignore price action or what the market is doing, indicators are fine and dandy but just don't trade them!

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r3algood
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Big Mike View Post
No clue why are you directing this at me.... I've been screaming at the top of my lungs for years to stop all the indicator craziness. I am only in this thread because it looked like a scam. I am here in moderator capacity. I have zero interest in the method.

Mike

I just wanted to see what ya thought about that sentence that i quoted

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 Big Mike 
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Here is a thread worth reading:



Mike

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 Big Mike 
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r3algood View Post
I just wanted to see what ya thought about that sentence that i quoted

The part that you quoted just shows that the OP doesn't have much experience. I think we've all been there. And like the OP, most of us probably refused to listen to our "elders" that were screaming at us that what we were doing made zero sense.

You can tell your kid 1000x times not to touch the hot oven. But they still must do it at least once before they get burned, and learn to not do that again.

Traders who say that their method moves faster than price action... lol... I have no comment.

And now he has stopped posting, presumably to go open his hedge fund with this new holy grail method. Look, in all honesty, I am really trying to not be mean or rude. So I say this in jest. And here is some helpful advice: there is nothing so magical that you created as a discretionary trader that you cannot share it. So his post to close his thread just proves that this is someone only at the very, very beginning of his cycle in the world of trading.

Like I said, we've all been there. So we can try to get him to "see the light", trying to get him to avoid repeating the mistakes we've made, but he is unlikely to listen. Still, at least we try.

Mike

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 kbit 
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Oh dude I always have an indicator or two on my charts, and I've played around with my methodologies more than I could possibly count. What I'm saying is that as traders we can't ignore price action or what the market is doing, indicators are fine and dandy but just don't trade them!

I don't need this directed at me either...I only have CD on a couple charts, the others have nothing.....we are on the same page. That's why I said you are making assumptions. Just because I make a post in a thread doesn't mean anything. Feel free to lecture the public but don't direct it at me
Kbit

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 Big Mike 
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I believe r3 was just trying to point out something the OP said and get us to comment on it. I thought he was aiming at me, but I think it was just a misunderstanding.

OP said:

Quoting 
I don't want to go in depth to price action, since I've already abandoned price action as this system actually moves faster than price action itself since its based on fibonacci - price action is based on fibonacci and eliot waves.

Mike

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 kbit 
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Big Mike View Post
I believe r3 was just trying to point out something the OP said and get us to comment on it. I thought he was aiming at me, but I think it was just a misunderstanding.

OP said:


Mike

I agree with what he said....I guess I misunderstood as well....

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Nasdin94
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kbit View Post
Why did they advise you not to share ?
Everyone is held harmless here...there is nothing to fear

Well they said that I shouldnt be helping strangers, but rather only relatives or close friends.

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Nasdin94
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r3algood View Post
@ Big Mike
@ kbit

It boggles my mind the number of people who trade their indicators instead of trading the market.

Trade your market, not your indicators.

I understand how you feel. I was a price action trader 3 months ago.
Then I combined it with this.
I realized that the signal always come with price action after the signal was produced.
I also realized that this indicator helps to remove any short term price action signal

Soon after, I removed price action from my system.
Last time, I waited for price action confirmation when a signal a produced,
Now, I just place buy/stop limit orders and just let it go without waiting for PA.

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r3algood
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Nasdin94 View Post
I understand how you feel. I was a price action trader 3 months ago.
Then I combined it with this.
I realized that the signal always come with price action after the signal was produced.
I also realized that this indicator helps to remove any short term price action signal

Soon after, I removed price action from my system.
Last time, I waited for price action confirmation when a signal a produced,
Now, I just place buy/stop limit orders and just let it go without waiting for PA.

Hey man no worries, i think my post may have come across as a bit harsh, I am following along in this thread and look forward to continued journaling even if you won't be posting the system man!

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Nasdin94
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Big Mike View Post
The part that you quoted just shows that the OP doesn't have much experience. I think we've all been there. And like the OP, most of us probably refused to listen to our "elders" that were screaming at us that what we were doing made zero sense.



Traders who say that their method moves faster than price action... lol... I have no comment.



Mike

Here's something you can do, Dl the multiwave-W indicator.
Attach to an mt4 chart, EUR/USD for example
Backtest it.
Press F12 to move foward 1 bar
Look for the SITG pattern,
observe how it comes before price action.

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 kbit 
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Nasdin94 View Post
I understand how you feel. I was a price action trader 3 months ago.
Then I combined it with this.
I realized that the signal always come with price action after the signal was produced.
I also realized that this indicator helps to remove any short term price action signal

Soon after, I removed price action from my system.
Last time, I waited for price action confirmation when a signal a produced,
Now, I just place buy/stop limit orders and just let it go without waiting for PA.

I do know of a similar setup but I would never abandon looking for price action. I won't knock your system, if it works for you and makes money that's great. I don't know if your dumping your thread or not but I was just curious to see how your setup compared to the one I know of.

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Nasdin94
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kbit View Post
I do know of a similar setup but I would never abandon looking for price action. I won't knock your system, if it works for you and makes money that's great. I don't know if your dumping your thread or not but I was just curious to see how your setup compared to the one I know of.


No I'm not dumping my thread.
As I said, I have abandoned price action while making trades.
But that is mainly because a better entry is received from the fibo pivots.


If the price is within the range of the fibopivots, I would not wait for price action.
If the price has passed through the range of the fibopivots and that theres no more to act as support/resistance, meaning that I have no other place to execute my trades from, so I will wait for price action formations like Pin bars and engulfing bars.

I learnt PA from some online courses like - Nial fuller's price action trading course and Asiaforexmentor Price action course.

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 kbit 
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No I'm not dumping my thread.
As I said, I have abandoned price action while making trades.
But that is mainly because a better entry is received from the fibo pivots.


If the price is within the range of the fibopivots, I would not wait for price action.
If the price has passed through the range of the fibopivots and that theres no more to act as support/resistance, meaning that I have no other place to execute my trades from, so I will wait for price action formations like Pin bars and engulfing bars.

I learnt PA from some online courses like - Nial fuller's price action trading course and Asiaforexmentor Price action course.


I understand what your saying. Quite a few of the people around here have been through the meat grinder and have realized that PASR is the way to go for long term sucess. That doesn't mean that there aren't other ways to do it but a lot of people here prefer to keep it simple and avoid to many lines and to many indicators. That is the main reason you may be criticised aside from your initial posts which were suspicious.
Anyway I didn't want to get in some turf war here, just wanted to see what your doing. I'll chime in with some thoughts tomorrow.

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Nasdin94
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kbit View Post
I understand what your saying. Quite a few of the people around here have been through the meat grinder and have realized that PASR is the way to go for long term sucess. That doesn't mean that there aren't other ways to do it but a lot of people here prefer to keep it simple and avoid to many lines and to many indicators. That is the main reason you may be criticised aside from your initial posts which were suspicious.
Anyway I didn't want to get in some turf war here, just wanted to see what your doing. I'll chime in with some thoughts tomorrow.


YES YOU GOT IT!
on the OP, I've already mentioned that this system is actually price action through support/resistance.
The indicators are not actual indicators but they just show areas of strong support/resistance
And im just trying to imply that theres more methods of trading PASR, there are many more ways of trading PASR and this is one of them.
GLad that you read carefully.

Anyways, sorry for the late replies in this thread. I live on the other side of the world.
And yes, finally I've just realized on why I'm being criticized, they think that im using lagging indicators.

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Nasdin94
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Trade journal,

I found a signal on the EUR AUD, then I placed a sell limit at the Fibopivot point.

Soon after, the sell limit was hit.

Let's see how the trade goes.

Stop loss is at 15 pips

I'm looking foward for it to hit the FP S2 line.
Hence, TP : 89 pips.

R/ R 1:6


EDIT:
I shifted my tp to 1.3395 as the fibonacci has redrawn itself.

New TP: 99 pips
New R:R 1: 6.6



UPDATE
2 Hours after.
Trade has progressed.
Let's see how we are, into this trade.

I managed to enter the trade right at the tip/turning point of reversal, no surprise here.


Attached is a picture.

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Nasdin94
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Update on the EUR AUD trade

As I said, this system signals before price action, and I always find myself entering the trade right at the reversal point.

And yes, when big mike was sarcastically saying about me holding a hedge fund, actually that is ironically true, I manage about $50 000 SGD of funds.
However, these funds are my relative's and family's, and I trade for them.

EDIT:
Although trade has reached 80 pips profit, it was repelled from a fibo pivot line, and came into my trailing stop and so I was "Profitted-out" with 58 pips profit

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Nasdin94
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There has been much confusion on why I had chosen to ignore PA.

Before using this strategy, I have to confess that, I was/ still am a Price action trader.

It is not like I was making losses with Price action or anything.
Price action is great. It works, throw away your indicators and just focus on price action.
That's the key to trading, in my opinion.

After awhile in Price action trading, I've realized that there's always something missing in the strategy, like you just can't enter a trade at the tip of a trend, your stop loss are always at the wick of the candlesticks.

Sometimes, you find the trades reversing against the price action signal just to go back in the same direction.
Sometimes, you find prices just reversing without any price action confirmation.

And all this, intrigued me.

I managed to realize certain weaknesses of price action.

1. If there is a long wick in the candlestick, you're often forced to place your stop loss bigger and wider and this reduces your R/R ratio

2. You can never enter right at the wick of a trend with price action, you're either entering at the close of the candle or a bit lower then that which is the low/high.

3. Sometimes the trade just reverses on you for awhile.

4. Sometimes price just moves without any PA.

And this all led to my conclusion, you can only detect correct trades of price action if you're looking at the correct timeframe.

For example, if you're on the H1 chart, not everyone will see the price action formation there, not everyone is looking at the same timeframe you get what I mean?

Sometimes, you spot a price action on the H1, but its just not time yet, and the trade reverses on you mainly because theres a contradicting price action at another timeframe.

Lastly, on the H1 chart again as an example, sometimes it just boggles your mind, there's no price action but the price suddenly reverses on you, and soon, you found out, there was another price action formation but it was on another timeframe which is the M30 for example.
The M30 had formed a PA but the H1 showed no PA.


Then I began to think deeper.
What is price action?
Price action is the result of price reacting or respecting to a particular level in the chart.

I began to research deeper to the CAUSE of Price action.
And I found my answer there. The trend usually reverses once it has exhausted its levels, particularly Fibonacci and that price action is just the weakening(due to exhaustion) of price and that the price is now vulnerable to a potential reverse.

And so there came to my methodology(And my signature)
If price action are indications of price reacting to a particular level due to the fact that it has been exhausted and therefore would reverse, why not just trade that particular level?

And that's where this system came from.
This system, although may seem like indicators, are just fibonacci.

What multiwave does is that it calculates the fibonacci extensions of every single wave in the chart.
And once all the price action waves have exhausted at the same time, this means that the price is now weak.
And since the price is weak, it is then prone to reversal, am I wrong?

Meaning, the next price action to form is the DEFINITE PRICE ACTION, or what I mean, a high probability trade since we've already confirmed that the price has exhausted.

There, the system has developed.

Awaiting for price action after an exhaustion.


Then, it evolved from there.
Fibopivots was added into the system, why do you have to wait for price action when you can just enter right at the level it reverses?

This boggles my mind, What have I been doing? If I already knew WHERE AND WHEN the price will reverse, why not just enter into the trade instead of waiting for price action and widening my stops?

Now, in my opinion, the system is something far more developed than MY initial price action trading.
I'm not being cocky and saying that its better than price action, I'm saying that its better than MY initial price action strategy.


Thus, PROJECT SPIO was completed.

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 kbit 
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Nasdin94 View Post
There has been much confusion on why I had chosen to ignore PA.

Before using this strategy, I have to confess that, I was/ still am a Price action trader.

It is not like I was making losses with Price action or anything.
Price action is great. It works, throw away your indicators and just focus on price action.
That's the key to trading, in my opinion.

After awhile in Price action trading, I've realized that there's always something missing in the strategy, like you just can't enter a trade at the tip of a trend, your stop loss are always at the wick of the candlesticks.

Sometimes, you find the trades reversing against the price action signal just to go back in the same direction.
Sometimes, you find prices just reversing without any price action confirmation.

And all this, intrigued me.

I managed to realize certain weaknesses of price action.

1. If there is a long wick in the candlestick, you're often forced to place your stop loss bigger and wider and this reduces your R/R ratio

2. You can never enter right at the wick of a trend with price action, you're either entering at the close of the candle or a bit lower then that which is the low/high.

3. Sometimes the trade just reverses on you for awhile.

4. Sometimes price just moves without any PA.

And this all led to my conclusion, you can only detect correct trades of price action if you're looking at the correct timeframe.

For example, if you're on the H1 chart, not everyone will see the price action formation there, not everyone is looking at the same timeframe you get what I mean?

Sometimes, you spot a price action on the H1, but its just not time yet, and the trade reverses on you mainly because theres a contradicting price action at another timeframe.

Lastly, on the H1 chart again as an example, sometimes it just boggles your mind, there's no price action but the price suddenly reverses on you, and soon, you found out, there was another price action formation but it was on another timeframe which is the M30 for example.
The M30 had formed a PA but the H1 showed no PA.


Then I began to think deeper.
What is price action?
Price action is the result of price reacting or respecting to a particular level in the chart.

I began to research deeper to the CAUSE of Price action.
And I found my answer there. The trend usually reverses once it has exhausted its levels, particularly Fibonacci and that price action is just the weakening(due to exhaustion) of price and that the price is now vulnerable to a potential reverse.

And so there came to my methodology(And my signature)
If price action are indications of price reacting to a particular level due to the fact that it has been exhausted and therefore would reverse, why not just trade that particular level?

And that's where this system came from.
This system, although may seem like indicators, are just fibonacci.

What multiwave does is that it calculates the fibonacci extensions of every single wave in the chart.
And once all the price action waves have exhausted at the same time, this means that the price is now weak.
And since the price is weak, it is then prone to reversal, am I wrong?

Meaning, the next price action to form is the DEFINITE PRICE ACTION, or what I mean, a high probability trade since we've already confirmed that the price has exhausted.

There, the system has developed.

Awaiting for price action after an exhaustion.


Then, it evolved from there.
Fibopivots was added into the system, why do you have to wait for price action when you can just enter right at the level it reverses?

This boggles my mind, What have I been doing? If I already knew WHERE AND WHEN the price will reverse, why not just enter into the trade instead of waiting for price action and widening my stops?

Now, in my opinion, the system is something far more developed than MY initial price action trading.
I'm not being cocky and saying that its better than price action, I'm saying that its better than MY initial price action strategy.


Thus, PROJECT SPIO was completed.

Good explanation, I thought I might post a couple thoughts.
I think we would agree that the larger time frames are stronger/more significant than the smaller ones. And we generally need to keep in perspective the time frame we base a trade on. In other words if we trade off a 5m chart and a trade lines up we most likely would go for a relatively small target compared to a trade we would take off a daily chart. That being said if a trade is based off your 1hr chart I would not expect to get as much as I would if I was trading a daily UNLESS my entry on the 1hr was really just me going down to a smaller time frame to narrow down an entry for the daily trade. If you choose to focus primarily on 1hr charts it's likely because that is the time frame you are comfortable with in terms of average drawdown/stop and average profit. My whole point of my rambling here is that if in the past you were taking trades off pins and so forth that got blown out, it's likely you weren't aware of the bigger picture. If you focus on the extremes of a daily range for example you will have a better chance of sucess on the smaller time frames. I think you get my point. As for blind entrys, I confess to doing them as well on occasion if I have a strong confluence of things that I believe will repel price in a given area but I still don't regard that as the best way to do it.

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 cory 
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Nasdin94 View Post
Okay, this is a list of fib levels. For you to set your fib settings to

0.146
0.236
0.382
0.447
0.486
0.5
0.618
0.707
0.786
0.886
1.0
1.128
1.272
1.414
1.618
1.764
2.0
2.236
2.618
3.142
3.618

Basically, you can plot EMA lines based on these levels.
E.g for 0.618 fib level, you plot a 62 EMA line on close.
There you have it! A MOVING FIBONACCI LINE!

No wonder EMAs work! They are just bouncing off from fibonacci retracements and projections!

Anyways, go ahead and program this values into your fibonacci retracement tool

I plot them and this is what I get.

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 Ralph07 
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Hi Nasdin,

Thank you for this interesting thread. By any chance, is it possible to get those indicators for NinajTrader 7?

Thanks.

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Nasdin94
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cory View Post
I plot them and this is what I get.


No, you misunderstood.
Reconfigure your Fibonacci,

But you can plot out the 62, 262 and 138 and 268 EMAs

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Nasdin94
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rdaune View Post
Hi Nasdin,

Thank you for this interesting thread. By any chance, is it possible to get those indicators for NinajTrader 7?

Thanks.


Hahas, another one.
I have had multiple requests.

Sadly, I do not have this indicator for NinjaTrader.

Nasdin

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 forrestang 
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Nasdin94 View Post
No, you misunderstood.
Reconfigure your Fibonacci,

But you can plot out the 62, 262 and 138 and 268 EMAs

I get the same thing.

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Nasdin94
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forrestang View Post
I get the same thing.





Your fibonacci, is the main thing here.


I have posted the method on plotting the fibonacci.

Instead of measuring the trend, you measure the retracement as seen here.
In an uptrend, you measure the bearish retracements
In a downtrend, you measure the bullish retracements

Very contradictory to what the gurus teach.

The 161.8
The 200
and the 261.8 are worthy Support/resistance points where you can place trades from or as a TP level.

The 314.2 and 368.2 happens as well if there is a bigger retracement during the trend.
They are probably the 268/200 Fib levels of bigger retracements but are seen as 314.2 and 368.2 of the smaller retracement you measured.

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Nasdin94
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forrestang View Post
I get the same thing.


Draw on any retracement you see,
And you'll see this applies to everything.

And if you happen to find retracement projections(I just came up with this term) which confleunces in the same level, then, that's a sharp turning point



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Nasdin94
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Journal
I have taken numerous trades today, however I did not post them here mainly because I was rushing to school at the moment.

There were 3 trades
Sell eur/usd X2
Sell nzd/usd

The 2 eur/usd trades ended up with a 60 pips profit
The nzd/usd ended up with a 30 pips profit.

The trades were a mistake.
I need to remind myself to wait for signal to complete or I might have to endure out a negative 40 pips value.
This has happened more than once, always due to emotions and greed.
I should have waited for the trend to finish exhausting first before entering.
However, luck has saved me.

I need to learn to control my emotions, It's been a difficult ride, all these years yet I have not learnt from my mistake, maybe someday, It'll get me, Just one day.

You're always just one trade away from failure. I need to get that in my head.

Nas.

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Nasdin94
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I realized that the multiwave X that I had uploaded was not working properly
Here is the fixed one.
I attached Schaff Trend and LRSI because it required them to be in your custom indicators folder in order to work properly.

Note: Multiwave X is a lagging indicator as compared to Multiwave-W
But it works just as well as Multiwave-w and both should be combined so as to filter out trades during a rally or a long wave.

Otherwise, using them individually works pretty well if the market is ranging.
Reminder to self: Always place trades Off Fibonacci levels, FiboPivots or when accompanied with Price Action.

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Nasdin94
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Trade Journal:
26/10/2011

The eur/usd has been ranging lately.
Nevertheless, I have spotted a short trade on the AUD/NZD.
SL: 20 pips
TP 56 pips.
The Fibopivot im using here is a modified one to give longer term support/resistance.
If I were to use the original one, the S1 line should be where the price is at right now. ( I calculated manually using fibonacci)

EUR Cad trade

Just another trade here.


Edit: The AUDNZD isnt going so well at 13 pips loss
The eurcad is doing quite well at 20 pips profit
2. Exited the AUDNZD with a 10 pips loss. My first loss in weeks.
The eurcad trade was exited with a 21 pips profit.

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Nasdin94
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I have been scalping 8-20 pips lately but was too lazy to post the trades here since there are too many trades to post.

I have since stopped scalping, ( since I want a life)
And has since moved to the 4h charts since I want to enjoy life and have more free time to myself.

EUR USD is targeting 1.40215.
I have made major sell limit positions around that level.

I have also attached the modified fibopivot.
This modified version is for longer term trading, optimized for 4h.

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Nasdin94
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The EUR/USD is targetting the 1.40125- 1.40215 area.

Until then, I'm buying this pair till it reaches that level.

Overnight, my nzdusd trade was triggered, so is my eur usd trade as well.

40 pips for the eurusd
80 pips for the nzdusd

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 kbit 
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Hi Nasdin94, Just wondering if you have tried this on the ES or YM or TF at all.

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Nasdin94
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kbit View Post
Hi Nasdin94, Just wondering if you have tried this on the ES or YM or TF at all.

Hi, Kbit,

I've mainly being using this method for currencies.
But I've tried my fibonacci methodology on commodities, currencies and also the ES.

The fibonacci method of drawing works,
I'm not sure about the multiwaves and the fibopivot indicators though, have not tried them on the ES YM or TF.

nas.

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 kbit 
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I spent a little time and came up with some #s with a setup similar to yours for the TF....just curious to see how they play out
707, 714, 726, 738, 744
There are some more but those looked like they have more significance.

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Nasdin94
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kbit View Post
I spent a little time and came up with some #s with a setup similar to yours for the TF....just curious to see how they play out
707, 714, 726, 738, 744
There are some more but those looked like they have more significance.

I'm sorry but
I have no idea what those are supposed to mean.

Could you post a screenshot for me please?
Thank you so much.

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 kbit 
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Nasdin94 View Post
I'm sorry but
I have no idea what those are supposed to mean.

Could you post a screenshot for me please?
Thank you so much.

They are numbers that should act as support/resistance...just put a line on a chart on those numbers and see how price reacts around them. They come from a method similar (not identical) to yours only this is even more forward lookiing than yours.

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Nasdin94
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kbit View Post
They are numbers that should act as support/resistance...just put a line on a chart on those numbers and see how price reacts around them. They come from a method similar (not identical) to yours only this is even more forward lookiing than yours.

These numbers are.. values.. or fibonacci ratios?

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 kbit 
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Nasdin94 View Post
These numbers are.. values.. or fibonacci ratios?

All based on fib stuff like yours...there are a few different ways to figure the numbers. I'll get into details later, to lazy to explain right now

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Nasdin94
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kbit View Post
All based on fib stuff like yours...there are a few different ways to figure the numbers. I'll get into details later, to lazy to explain right now


Okay, thanks for the info.
70.7 seems to work well.

But the ratios are too closely packed together.
Unless..the matter involves going into a much higher timeframe and drawing out the fib retracement there and therefore the values will bounce up and down these levels in the lower timeframe.
Just a thought.

Shall await for your explanation.

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Nasdin94
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GBP USD TRADE
I'm on fire
Exited with 10 pips when it hit my trail stop

USD Cad TRADE
A bit late by 7 pips here
Entered at that close instead of at the wick.
Nevermind, stop loss is 20 pips then.
Targetted profit target: 80 pips. @ 1.0167
Exited with 11 pips, hit my trail stop.

EUR USD TRADE
This is just an update of my morning trade (+8gmt offset here)
I exited the NZD USD trade with 74 pips profit.

I exited the EUR USD trade before it retraced +40 pips
And now I've re-entered back into the pair.


EUR USD update:
Currently at 107 pips profit.
Getting close to my TP and also the area where I would place my sell.

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Nasdin94
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The EUR USD trade exited with 420 pips profit.

Seems like its time to sell now.
However, I'm still buying on this, I foresee a stop running pattern coming along and so, I'm going to re-enter on a buy despite it being time to sell now.

This short buy will tp @ 1.42544, the area where the price action to sell came.
I think its probably going to pierce through the price action bar by a few pips just to take out the stops of other people before it continues going back down.

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Nasdin94
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Waiting for that buy signal..no trades yet.


Seems like the price missed my sell entry.
Could have made 300 pips though
261.8 is round the corner to indicate the the bearish cycle will end and reverse back to my entry.
Currently price is at the 200th level and we can see that it is retracing.

Hoping to re-enter into a sell after this retracement.
TP and reenter into a buy at the 261.8 level and tp back up to the entry point.(1.42663)

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Nasdin94
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Hee, did not made my entry for buy yet,

Other retracements points a further downside.

No trades yet
This week seems a bit idle.

Journalling: I have since moved to OANDA Fxtrade due to nice execution speeds.
However this means that I have to remove the Multiwaves.
But that's Okay, I can always measure the fibonacci myself and that I'm already used to trading Price action.

So I'm a price action trader now again then.

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Nasdin94
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Made a trade, FINALLY


AUD USD buy trade.

Just a short trade

TP:160 pips(Current @ 30 pips)
SL: Already at breakeven.

I'll just post the screenshot of 1 of the monitors that I use to trade on.
Yes, I've moved to Oanda. Things are much easier there.

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Nasdin94
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2/11/2011\


EUR USD trade.
Re entered on the sell.
TP is just right below there at about 220 pips.

Current profit:101 pips.

And I will stop and reverse at that level for I think there will be a major retracement there

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 protjor 
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Hi Nasdin,

I have been putting the indicators into metatrader4 and i found i quite good. Had some minor succes.

Now i find it a pitty that you do not trade within metatrader4 with the same setup.

I'm also find it better to trade price action but some indications where the price wants to go , is helpful.

I also saw that you trade on the 4 hour charts.

Could you tell me abit more about your new approach, because i can not determine it from you charts?

Thanks in advance

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Nasdin94
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protjor View Post
Hi Nasdin,

I have been putting the indicators into metatrader4 and i found i quite good. Had some minor succes.

Now i find it a pitty that you do not trade within metatrader4 with the same setup.

I'm also find it better to trade price action but some indications where the price wants to go , is helpful.

I also saw that you trade on the 4 hour charts.

Could you tell me abit more about your new approach, because i can not determine it from you charts?

Thanks in advance


The system is still the same even when I'm not using metatrader 4.

Even though I'm not using the Multiwaves, I do still calculate out the fibonacci manually using the method and am still entering at the wick, without price action

I am also using the EMAS of 362,162,200,262,62 and the 6 EMA.

I trade off these EMA's as dynamic support/resistance when they are converging and combining to become a thin line.

I also watch when the price cross overs the converged lines and the retraces back to the 6EMA and/or 62 EMA
I would then place my trades at a fibonacci level of that area when price moved back.

As for the 4 hour charts, I'm trading it now cause I'm busy these few weeks and cannot come to the computer.
I would look for the EMA signals based on the 4 hour charts but I would draw the fibonacci method on the 1 hour charts because it is easier to see as there are more candlesticks

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Nasdin94
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Here is an example.

On an eur usd trade I recently made.
Yes, I did not post it in my journal.
I've been making a lot of trades recently and I'm afraid that this would flood the thread with posts of my trades since I'm watching over 20 pairs at the same time.

This strategy is good because it allows you to find trades just by glancing at charts, useful if you have a lot of trades/charts to look at when you're busy


However, if you have the time to draw out fibonacci for each and every pair(the project spio system), then it will be more accurate.

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zhaozilong
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Nasdin94 View Post
Here is an example.

On an eur usd trade I recently made.
Yes, I did not post it in my journal.
I've been making a lot of trades recently and I'm afraid that this would flood the thread with posts of my trades since I'm watching over 20 pairs at the same time.

This strategy is good because it allows you to find trades just by glancing at charts, useful if you have a lot of trades/charts to look at when you're busy


However, if you have the time to draw out fibonacci for each and every pair(the project spio system), then it will be more accurate.

Hello Nasdin,

is it possible to post your template .tpl which you used in MT4 both for your shorter term trading which uses fibopivot and longer term trading which uses fibopivot2?

thanks.

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Nasdin94
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zhaozilong View Post
Hello Nasdin,

is it possible to post your template .tpl which you used in MT4 both for your shorter term trading which uses fibopivot and longer term trading which uses fibopivot2?

thanks.


LT- longer term trading usage of fibopivots 2. For H1 and above.

ST- 5 Mins and above but not so reliable in the long term.

Attached Files
Register to download File Type: tpl PROJECT SPIO -LT.tpl (7.3 KB, 65 views)
Register to download File Type: tpl project spio -ST.tpl (7.3 KB, 54 views)
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  #80 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
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Applications to enter the current facebook group are all rejected.

However, you may join the public group that I had just created

Log In | Facebook

Search up - SPIO Investors Organization

Feel free to join.

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  #81 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

I know I have since stopped journalling and that there are a lot of vagueness in my posts.

Any doubts, let me know in the new facebook group, since its easier to keep track of things there instead of here.

But I wil stop journalling, for now.

Thank you all, for those who are interested.

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  #82 (permalink)
 kbit 
Aurora, Il USA
 
Experience: Advanced
Platform: TradeStation
Trading: futures
 
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Nasdin94 View Post
I know I have since stopped journalling and that there are a lot of vagueness in my posts.

Any doubts, let me know in the new facebook group, since its easier to keep track of things there instead of here.

But I wil stop journalling, for now.

Thank you all, for those who are interested.

Sorry to hear that, I've been rather busy lately so I haven't had a chance to make a meaningful contribution here. I don't do the facebook thing, no offense but, I view that like a thing for high school girls not to mention all the stuff about hacking and so forth. Anyway I hope you do well.
Kbit

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


kbit View Post
Sorry to hear that, I've been rather busy lately so I haven't had a chance to make a meaningful contribution here. I don't do the facebook thing, no offense but, I view that like a thing for high school girls not to mention all the stuff about hacking and so forth. Anyway I hope you do well.
Kbit


Well, it was the only easy group creator I could find

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  #84 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

As part of my journal(even though im not posting any trades,)

I'll just put my monthly statements every month so that in the future, I can look at it, either to see how bad I was or how good I was back then. Hopefully, in the future, I'll get better.


The ROI has been a great run for me.
I'm still trying to maximize it as much as possible, its already at 423% a month now.

In the last week, I used a technique called reverse pyramiding to increase my ROI, the results were a success, notice the huge jump in balance.

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freddy7070
Logan, UT/USA
 
 
Posts: 2 since Jan 2012
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Hello everyone. New here, but not new to trading.

I find this thread interesting because I am well aware of the origin of the Multiwave indies and their development. In fact, I at one time was involved with testing them with their creator. I had abandoned them long ago, but now I've found renewed interest in using them as-is or modifying them to help identify true supply & demand levels on longer timeframe charts (4hr & up).

The original MW indie was a 30-min RSI-3 overlayed onto a 5-min RSI-3. Their convergence at the extremes (89 & 11) was generally an indication of overbought/oversold conditions. It was also meant to be traded using live candles on a 30-min chart. The bad thing about it was that you had to be sitting at the chart to see the convergence, which often happened very quickly (remember, we're looking at a live candle entry), and once the 5-min RSI-3 candle closed the convergence may not be visible as an extreme (89 or 11 level) convergence. Anyway, that's just a little background for you. Maybe someone can use that info to improve their trading if they are using it. Don't trade it by itself though or you will kill your acct. Always use it in confluence.

The Multiwave-W consists of four williams % R signals overlayed. Values 5, 8, 13, & 21 (all fibo #'s like rest of system). Since the code is open in the mq4 some of you probably figured that out already.

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Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received


freddy7070 View Post
Hello everyone. New here, but not new to trading.

I find this thread interesting because I am well aware of the origin of the Multiwave indies and their development. In fact, I at one time was involved with testing them with their creator. I had abandoned them long ago, but now I've found renewed interest in using them as-is or modifying them to help identify true supply & demand levels on longer timeframe charts (4hr & up).

The original MW indie was a 30-min RSI-3 overlayed onto a 5-min RSI-3. Their convergence at the extremes (89 & 11) was generally an indication of overbought/oversold conditions. It was also meant to be traded using live candles on a 30-min chart. The bad thing about it was that you had to be sitting at the chart to see the convergence, which often happened very quickly (remember, we're looking at a live candle entry), and once the 5-min RSI-3 candle closed the convergence may not be visible as an extreme (89 or 11 level) convergence. Anyway, that's just a little background for you. Maybe someone can use that info to improve their trading if they are using it. Don't trade it by itself though or you will kill your acct. Always use it in confluence.

The Multiwave-W consists of four williams % R signals overlayed. Values 5, 8, 13, & 21 (all fibo #'s like rest of system). Since the code is open in the mq4 some of you probably figured that out already.



Then I must thank you

Thank you for your indicator.

Here is a statement.
It has withdrawals in it therefore the chart is not a straight move up but is zig-zagging(withdrawals)

I have also changed the fibopivots indicator to something much better.

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 Vincent Vega 
Beer Sheva,Israel
 
Experience: Intermediate
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No such group on FB.

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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  #88 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
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Vincent Vega View Post
No such group on FB.

Log In | Facebook

Next, would be to join the skype group.
Please add Daneer --> Alonso221221
On skype and request from him to add you to the skype group.

The skype group has about 40+ people in it whereas the FB has only about 20+

This is due to that not many people have a FB account.

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pt49
Melbourne, Vic, Australia
 
 
Posts: 2 since Jul 2012
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Nasdin94 View Post


Next, would be to join the skype group.
Please add Daneer --> Alonso221221
On skype and request from him to add you to the skype group.

The skype group has about 40+ people in it whereas the FB has only about 20+

This is due to that not many people have a FB account.

Not much point trying to join the skype group either because these guys don't accept a contact request.

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 jfitch 
Pleasant Prairie, Wisconsin/ USA
 
Experience: Intermediate
Platform: Ninja Trader
Trading: ES and Currencies
 
Posts: 1 since Jul 2012
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What happened to the Spio Project?

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  #91 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
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jfitch View Post

What happened to the Spio Project?

it has moved on to greener pastures.

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  #92 (permalink)
 Koepisch 
@ Germany
 
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Because i am snoop around similar system studies i have searched for some more info's.

Find some backgrounds about the used wave indicator:
HWC.pdf

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  #93 (permalink)
pt49
Melbourne, Vic, Australia
 
 
Posts: 2 since Jul 2012
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So in fact this is NOT Nasdin94's system, it is part of PipClub's Harmonic Wave Convergence method.

Nasdin94 has hyjacked the PipClub indi's and claimed them as his own.

Just goes to prove that there are very few original thinkers in the Forex world, but plenty of wannabee's

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 fskhan 
Houston
 
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freddy7070 View Post

The Multiwave-W consists of four williams % R signals overlayed. Values 5, 8, 13, & 21 (all fibo #'s like rest of system). Since the code is open in the mq4 some of you probably figured that out already.

I could not find this indicator so put together multiple WIllima%R for 5,8,14&21 periods. It is attached here. Will post it in the download section.

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