Using Fib Lines to place orders

S

skiing60

Hi
During my order placement, does anyone know how I can use a Fibinocci tool with NT8? (I'd like to automate my orders so that they are placed when Price hits a Fib line.) Or do I need a separate software package. I've noticed that a Shark Indicators doesn't have one.
Thanks Paul M
 
I saw this video on Fib trading - weird but apparently there is not one single room that trades Fib lines or strategy for real, including Fib Trading Institute or Fib Queen!
 
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Thanks for the interesting video. Funny how many people seem to quote Fib lines, I thought that I'd find some that use them inside indicators, or integrate them into ATM strategies. I'll keep looking though. If you think of something else I'd appreciate it. My email skiing60@gmail.com Thanks Paul M
 
Yes and several ways to do it. Use conditional orders or just place an order to enter to buy or sell at that price that matches your fibs. Use brackets for your stop and targets.
 
MACD said:
Yes and several ways to do it. Use conditional orders or just place an order to enter to buy or sell at that price that matches your fibs. Use brackets for your stop and targets.
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BTW: If you contact NT and request a remote session -- I have had good help with their tech getting on my computer with remote access and they will set it up for you.

Also if you need any other info you certainly my PM me and I will answer or we can share screens using SKYPE.
Fibonacci works extremely well whether you are swing trading or scalping.
 
skiing60 said:
Hi
During my order placement, does anyone know how I can use a Fibinocci tool with NT8? (I'd like to automate my orders so that they are placed when Price hits a Fib line.) Or do I need a separate software package. I've noticed that a Shark Indicators doesn't have one.
Thanks Paul M
More...

Fib lines work only about 70% of the time just so you know. So don't be surprised if it doesn't work. There might be natural phenomenons that conform to Fibonacci numbers but the numbers don't apply 100% to financial trading as it is still largely impacted by fundamental factors and news.
 
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If you plan your trading days around major news releases which will affect your trading currency pair,
and whilst having a good ear to a non-lagging news feed like Newsquawk

Fibs works ok for me.

Plan your trade -Trade your plan.
 
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