Using Fib Lines to place orders

SunTrader said:
Trading would be so easy ... and very profitable if only it were so simple as just doing X because of Y.

Pick any TA technique - does it work sometimes, of course - does it fail sometimes, of course.

Can any TA technique be followed blindly without any trader input whatsoever, of course friggen not.

Donate your money to charity before letting software buy/sell just because a number, however it is determined, is hit without considering other conditions.
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Agreed. Using the conditions to enter the trades, with your indicators is the challenge. Thanks again. The PM
 
MACD said:
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.
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Thanks MACD, I appreciate the dialogue. The PM
 
JSOP said:
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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Agreed. I'm trying for good entries and tight stops....and good advice. Thanks
 
It depends on are you using it on downtrend or uptrend, I have seen that fib has the 70% accuracy if applied for more robust and sure shot entries check for the RSI and MACD too. I keep the diamond level on priority but yeah it depends on the market structure too.
 
Trading Fibonacci Retracement with pattern recognition is an alternative, as the trade will have played out before you trade the Retracement.
 
tuxedo69 said:
Trading Fibonacci Retracement with pattern recognition is an alternative, as the trade will have played out before you trade the Retracement.
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Au contraire mon frère. Could you show a chart of a played-out-trade as you describe above?
 
Hi easymon1 I trust you are well.

I am afraid i cannot share a chart as this is my Edge, i have been trading intermittently for many years.and am still learning FX With my main job.

i started trading currencies part time some 15 years ago working on finding a strategy which works, and a time frame that suits my temperament , which i now have found and works for me, the Pair i trade is XAUUSD.

Fibs works perfectly, but you have to watch the Candles being painted,to see the Fib set ups.
 
skiing60 said:
No I don't have an ATM version for NT8. Thats what I'm thriving for. Do you have any suggestions???
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No, what MACD was asking is if you have a version of NT8 that allows you to use the ATM feature. Not if you have a pre-programmed ATM strat.

Because if that is what you are truly thriving for, a version of NT8 that allows you to use the ATM feature, the only suggestion to be made is pony up the money for the fuller versions! :)
 
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