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Beth's Journey to Make Her Millions
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Beth's Journey to Make Her Millions

  #1591 (permalink)
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aztrader9 View Post
I love fibs...but its a deep hole....there is a fundamental truth one needs to understand about them....every price and every tick is a fib level off some other price level.....this sparks a question, which one to use......I have wrestled with this question for two years with no real answer.....but I have settled on an approximation and a filter....see the attachment. You can trade this way without the fibs or the moving average, they just help me visualize price action.....and excellent thread to read about trading the pull backs is @MWinfrey's 5min Odyssey. I personally have learned a lot from just looking at his charts and entry points....I went back and looked at them on my chart and almost all of them were a 50% or 62% pull back.....and he has been very successful with it.....

The chart I attached is a down and dirty fib on a 5 min chart. Today its a nearly perfect 62% pull back....they are not always like this....hence my notes on the chart...

Hope this helps in your thinking......

This is why I just use the Moving Averages. Don't make it too complicated. Keep it simple.

Andrew

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  #1592 (permalink)
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ergodic template

Beth do you mind posting you latest ergodic templates...thanks

 
  #1593 (permalink)
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Quoting 
I love fibs...but its a deep hole....there is a fundamental truth one needs to understand about them....every price and every tick is a fib level off some other price level.....this sparks a question, which one to use......I have wrestled with this question for two years with no real answer.....but I have settled on an approximation and a filter....


AR01 View Post
This is why I just use the Moving Averages. Don't make it too complicated. Keep it simple.

Andrew

For any tading concept you try, you have to ask yourself, do I believe in that concept? Does it make sense to me? Does it fit my personality? I don't use fibs, because I personally feel they are more random then not. I feel I could take any random fib level, go through any random chart, and find 5 occurrences a day where that randomly chosen fib level was hit exactly. So, fibs would never work for me. That said, I know there are successful fib traders. Why are they successful? Because they believe in it, it is all part of the psychological piece of trading. You have to believe in, and have confidence, in the system you are trading. Unless you are ready to punch the guy next to you in the head, because he said something derogatory about your system, then that system is probably not gonna work for you


Last edited by monpere; March 1st, 2011 at 12:24 PM.
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  #1594 (permalink)
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chonpz View Post
Beth do you mind posting you latest ergodic templates...thanks

Here it comes Chonpz. I have a faster Ergodic (12-4-9) twice, ie on the Price Panel (overlay) and Panel 3 + a slower one (12-12-14) on Panel 2.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-settings.jpg  
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  #1595 (permalink)
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Fibs Learning

Thanks Aztrader9, Andrew and Monpere for the Fibs advice/sharing. Months ago it's too overwhelming + crowding my charts. Now I only focus on 50%/61.80 retracement as a start and it's not threatening anymore. I am hoping that it will give me a better idea on where to set profit target. If successful, I maybe able to adjust 1:1 reward/risk to 2:1 or higher. Plus serves to confirm a regular signal when divergence ones (with the trend) have been rare these mornings.

Continue enjoying your day.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1596 (permalink)
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Hi Beth, BTW-Great thread...thank you for being open and honest in your journal...it is refreshing. I learned fibs by reading but also thru this personís am post via email. He totally is a fib trader, more than I am. This is a downloadable video. It may help to see how they are fully relied upon, like I do with indicators and a little price action when trading.

If time he has a 1 week free pass, and his room is only 30 per month if you want to see more. He trades all day. I really like his am files, FWIW-this is not an endorsement, just a learning tool if Beth can use. Hey its free-right. Take Care-Mark

Here is the link from this am: http://feeds.feedburner.com/~r/DhalseysTradingWeblog/~5/sHBigWLiFVg/030111.mp4?utm_source=feedburner&utm_medium=email


wgreenie View Post
Thanks Aztrader9, Andrew and Monpere for the Fibs advice/sharing. Months ago it's too overwhelming + crowding my charts. Now I only focus on 50%/61.80 retracement as a start and it's not threatening anymore. I am hoping that it will give me a better idea on where to set profit target. If successful, I maybe able to adjust 1:1 reward/risk to 2:1 or higher. Plus serves to confirm a regular signal when divergence ones (with the trend) have been rare these mornings.

Continue enjoying your day.

Beth


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  #1597 (permalink)
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wgreenie View Post
Here it comes Chonpz. I have a faster Ergodic (12-4-9) twice, ie on the Price Panel (overlay) and Panel 3 + a slower one (12-12-14) on Panel 2.

Beth

Beth when able no rush could you please be so kind to direct me where to find Ergo Indicator for the Ninja 6.5
Yes I continue to use NT 6.5

Thank you for your help

TickVix/Gregory

 
  #1598 (permalink)
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tickvix View Post
Beth when able no rush could you please be so kind to direct me where to find Ergo Indicator for the Ninja 6.5
Yes I continue to use NT 6.5

Thank you for your help

TickVix/Gregory

Hi Gregory

Enclosed should work for NT 6.5 and are slightly different from mine. Good luck!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Files
Register to download File Type: zip ECO2New2.zip (6.4 KB, 32 views)
Register to download File Type: zip ErgodicNew.zip (6.1 KB, 35 views)
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  #1599 (permalink)
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tradermark2009 View Post
Hi Beth, BTW-Great thread...thank you for being open and honest in your journal...it is refreshing. I learned fibs by reading but also thru this personís am post via email. He totally is a fib trader, more than I am. This is a downloadable video. It may help to see how they are fully relied upon, like I do with indicators and a little price action when trading.

If time he has a 1 week free pass, and his room is only 30 per month if you want to see more. He trades all day. I really like his am files, FWIW-this is not an endorsement, just a learning tool if Beth can use. Hey its free-right. Take Care-Mark

Here is the link from this am: http://feeds.feedburner.com/~r/DhalseysTradingWeblog/~5/sHBigWLiFVg/030111.mp4?utm_source=feedburner&utm_medium=email

Hi Mark

Thanks for the link. I just downloaded it (mp4 format) and my computer is unable to play it. Hopefully I can figure it out else please provide me with the website in question. Thank you.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1600 (permalink)
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wgreenie View Post
Hi Gregory

Enclosed should work for NT 6.5 and are slightly different from mine. Good luck!

Beth

THANK U!!!

U ARE THE BEST!!!


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