Becky, I see and appreciate your trading method. ProtraderEd.com uses it and even automates the trade when the midband is crossed. NFT, however, advocates trading at the edge. So, in the diagram you would go long between B and C, at the point almost touching the 0 Fib. (There is a head and shoulders pattern also). The MACDBBline indicators support that trade. Mostly, however, you would look for pivots at the 76 and 23 Fibs. BTW, NFT no longer uses bands with the tape, just Bollinger bands within the MACDBBline indicators.
Hey, thanks for the information. You are the 2nd person to recommend something similar to me!
My premise on that trade was that it was a continuation and normally I would not take it, but another person who posted kind of got me a little 'excited' about continuation trades and I felt it could go that direction and "I didn't want to miss it!" which is the kiss of death.
I do understand what you are saying and like HighRise had mentioned, it is not the same system but quite different.
It is never a bad thing to pay for education if it bypasses a lot of jargon, so I disagree that my 7K is gone or 'worthless' per se. I am grateful for the opportunity to learn from anyone if I can open up my hard head for long enough and I tend to only do so when I pay for it. I think that is a human psychology effect.
I think the system you mention would require a different trading style and maybe one more suited to you or other traders and even maybe myself, I don't know.
I am very interested in learning Fib's a bit better and I agree that this system is heavy on Fibs. I can tell you that I BELIEVE Horst is legit and unless he deserves an Academy award that there is no way in h*ll he is faking his trading. He may hide the occasional bad day, but nothing significant and enough to worry about. I guess Academy awards aren't what they used to be..
Seriously thanks for the input and I will reflect on it some more and for the effort, but it is definitely different then the method I currently trade.
Hey Blue, I don’t really PM because there’s a tendency to become clich-ish or a way to start talking behind someone’s back. But I knew if I made this public there would be shills jumping in…and the last thing I want is to disrespect your journal.
As I said earlier in the post, I have no issue with Horst. All I’m saying is something in this course clicked with him but not with you. Once again, it’s based on individuals past trading experience transitioning to a new trading concept.
What I suggested is based on my own personal observation of watching your video day after day…Yes, you said you wanted to make this YOUR OWN…that would mean you have to think independently towards this system…And NOT like a mindless ZOMBIE…Hen, said this, or Hen said that…that’s B.S.
By the way, who is HighRise1202? Who is Becky? Who is ProtraderED? After going to this blog, I would recommend to STAY AWAY from him…please. And 76 fibs and 23 fibs?!!! WTF…No body uses a 23 fib! Did you know how to get the 23 fib…it’s based on slight of hand? Ya, you should watch how they do it…you move the initial pivot to the next higher low or lower high…because if you don’t do that you would most likely get a 382, A HARMONIC NUMBER. The funny thing is that you don’t do that when you call out the 23 fib…hmm, did they forget to tell you that B.S. trick?
There’s only 1 and only 1 vendor here in futures.io (formerly BMT) that I can, based on my personal opinion, recommend. And I don’t know him personally, or do I have any affiliation what so ever with him.
But apart from that the post that was recently started regarding Fibs with great resources is HERE.
You see Blue, I just can’t stand to see people like you chasing your tail and getting nowhere. Yes, in all experiences we learn something…but there comes a time when you have to change your approach or change completely when things are just not working out…just my 2 cents.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
Thanks for the input. I think Highrise was just trying to help out some since I didn't respond. And, I have actually taken trades at the 23% on the VERY LONG TERM, but not sure if that is what was meant.
Per your comment below, I disagree with you in that I am not improving. I have gone in waves and I have gotten worse, and gotten better. I just had about 10 days straight of almost wins every day! I had one bad week and I went back to watching the market like I think most traders would do. I will take a look at the post, but I just want to point out that profitable trading takes a while for most people. You can fault the system all you want, but I disagree that the system is at fault and it is me mostly with my baggage and refusal to trade what I see instead of forcing it down the throat.
I look back from a year ago and I am 10 times the trader I was even though I could be profitable. I don't know why that is, but I can tell instantly from watching the old videos.
I like you am bothered by vendors who take the money and run, but I believe in my heart that Henry (NFT) also believes that he teaches something of value other then click when you see this.
It is easy to be critical in my opinion of which I am all to often.
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Ok, how does one completely revert to their bad habits so quickly. Just watch my video and you will see.
Per @rtrade, no worries, everyone has a view and no need to apologize and what you said is always good and I find the fib's you mentioned interesting.
Today I just couldn't wait to click. I told myself that I wasn't that click-happy, but I took mediocre and worse trades that were just plain saying NOT YET!!!!
I traded more than 3 times today and I told myself I would be OK with that so I am not upset about that. Tomorrow I will not be over-trading and I will wait patiently. It almost doesn't get any worse today for me than today.
I saw a nice short coming as it seems to be heading down to the 50% retracement from many many weeks ago so we have some distance to travel down.
What was going through my head was this: "If it is with the trend, the setups are not as clear, so be OK with taking a "B" setup."
That sums it up. This isn't what was taught to me, but just poor trading.
Days like this I think most people wouldn't put up a video.
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1. Take only 3 trades. I stopped, but I had to walk away.
2. Focus on the longer time frames. I didn't have time, since I blew 3 trades within seconds it seems.
3. Pay attention to the 440 chart and Major areas. The 440 was not saying go short and was saying it was unclear.
Ouch. I enjoyed watching today as it was quite clear it was "ONE OF THOSE DAYS"!
This is the type of day that used to just kill my account. I think I understand it now! Watching today was very clear even though I sped it up as I have to get to work a bit early today.
The 440 had separation from below while the longer terms had massive separation from above = bull flags. Looking back at the video in the short time I traded that I do not think I could have done any better with my rules except maybe stayed out of the 2nd trade.
It was giving lots of entries on pullbacks but I had already given up my trades. I could have had a BE+1 on that last trade considering the separation on the 440 but I was 'hoping'.
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