Fibonacci Trading (without noise)

Sprout said:
It's simple to listen to signal. It starts with quieting the mind.
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justrading said:
It never ceases to amaze me how complicated people make trading to be as an endeavour.

Reduce it to the very basic, it is just R:R.

Everything is just noise, but our egos don't permit us to accept that simplicity can work where so many fail.

Read what Peter Brandt has to say. He is a classical chart pattern trader, yet he openly states chart patterns do not provide an edge.

Listen carefully people, here is the secret.

You can use anything, it really doesn't matter.

There is no 100%, and I use quantitative methods so I do know.

There are just varying degrees of less than 100%, and if you can find anyone in this forum to dispute this statement, I'll happily discuss the point and ask for proof.

Here is the secret to profitable trading.

You need a clear structure around which you trade to achieve R:R.

Yes, just a structure.

I tried Stochastics, I failed miserably. I know someone who regularly appears on Bloomberg and BBC who came second in an international trading competition using just Stochastics.

Think about it.
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Just Trading -- Thanks for an absolutely Excellent Post. This is what makes me decide that there may be some merit for me to continue on with posting on ET and this Thread. No, I have no ax to grind. No, I am not a vendor -- just someone who believes that trading is really simple and that most can be profitable if they will just learn some simple methods (and eliminate what does not work). I too have posted that it is important to quickly and correctly local support and resistance and then determine how that provides "structure" for the trade; that will define risk and targets as well as determine the time frames necessary to make the proper trade mechanics.
 
I am studying on how to post videos. I realize that those would be best to explain the trades I make. I have communicated with Baron, owner of ET, and am awaiting his answers for posting MP4 videos. In the meantime, the offer of doing complete and thorough explanations and answers to your questions are still available on Skype -- Please see the post above for Skype Contact. It works quite well for this and those who have availed themselves to get clear answers (and perhaps continue to chop on me) have found it useful. Thanks. Today being a non-trading day, Saturday, I will spend some time Doing what the Dharma Dog Mediator is shown doing. Love that Picture - thanks. (Can't train our dog to do it - but showed him the picture).
 
The above 2 charts show using fibs to scalp on 5 min chart (CL = Crude Oil future)
These are Live Trades (real money) took only a few minutes. Both winning trades.
This is easy and mechanical trading method. Works.
 
Joe_D said:
Lunch with high net worth traders today - all without exception were going on and on about how confusing the US Dollar has been lately. All of them use advanced trading techniques on EurUsd but not a single one has a ruler/pencil or the Fibo tool. When they saw the hit @ 161.8% its as if they saw a ghost. They were speechless when I told 'em that after the correction, the odds are super high we be going to 261.8%. Of course I didn't want to upset these cats so I reassured them all of it works even on the 1-min. chart :)

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Do you mind explaining the reason you drew the fib lines there rather than somewhere else?
 
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