Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I hope you are doing well. In support of your Fibs I was reading a thread here on futures.io (formerly BMT) about harmonic trading and it was basically talking Fibs. The idea was that a retracement might well stop at a Fib (he quoted 61.8 and 76.8 but as you know 50% is important as well) and then the estimate for the next leg is the same as the first leg.
It is the same stuff as George Angell had in his book Sniper Trading many years ago. Also as you recall, in that book on Forex trading i recommended to you before she used the Fibs (together with trendlines and S/R levels) to help determine where to enter the trade .
Find attached my notes - I've only read a bit of the thread - I get quite tired by day's end. (Yawning now hah hah)
Yes, I read the Harmonic thread before .. it's too advanced for me. I went through some sym charts/notes (which I believe David prepared for me last summer) and got something out of them this round. I am taking things easy these days/nights. When they don't click .. they don't .. I stop before stressing myself too much. When I visit them again in the future, they may click. That happened.
I am doing more relaxing activities .. baking .. exercising .. dancing etc etc. When the weather gets warmer (still between -5 and -10 degr C), I will join my neighbor and walk for an hour or two.
No live or sim trading for some weeks now. Still working on my allergies + I have been accompanying UKNOWHO for his out-of-town trips. Was on the road/in the car for 8+ hours yesterday and got back around midnight. Luckily he sold it.
hey Beth, i read the last few pages of your journal, and decided to pipe in...for what its worth.i went back to simming 3 months ago, because i just wasnt confident in my method(lack of).i private messaged you a while back, as i was considering using the holy grail method.you were kind enough to respond, and informed me you were using perrys method(or a variation).i looked at it, and decided to go with it.it really made sense to me, and it was simple.well, here we are , 6 weeks later, and the only thing left is a 3ma and 14 ma.i yanked everything off, and after 2 weeks of no changes, put a macd 3,14,9 on the bottom, just to give me a trigger point. i wonder if you listened to big mikes recent webinar? if not , i highly reccomend..one of the rules...no changes on chart for 2 weeks.after 2 weeks, you can make 2 changes only.i went through the tinkering phase , for so long, and the funny thing is, i wiped almost all that stuff off.now i can actually see my candles!!whatever charts and indicators you end up with, you need to believe in them, and rely on them..so many people are trading totally differently, with different indicators, it is real easy to get off track, when you look at their charts.always remember, this is your journey, and ultimately, you have to rely on what works for you.i have really enjoyed reading your journal, and wish you the best.
Thanks Bob for your sharing and update. Can tell you're gaining more confidence in your system .. almost naked .. Congratulations! I went through different stages and have not been adding more indicators to my chart and rather trimming them. Only PriceActionSwing (plotting HH/HL/LL/LH labels) and divergence stay. Have started using volume footprint to validate a signal and time an entry. Am having more faith in Price and Volume which are real-time.
Domestic and allergy issues have kept me quite occupied these days. Now I have an adjusted to-do list with Health as the No 1 goal. It's necessary to change my high sensitivity profile as it has triggered strange allergy symptoms. Will be back end of the month.
Remember I mentioned months ago about a program assessing one's trading competence in a 4-week program? If one proves to be profitable and meets the program objectives ($8K/month on a sim platform and maximum 5 contracts/trade), he/she will be assigned with a funded account to trade live. I just signed up for it with $120 deposit on stake now.
My Goal: It's time to assess my competence. If I do not make minimum $4K at the end (benchmark to qualify for a deposit fund), it's telling me that I must work/study harder. Let's keep our fingers crossed and see what may happen. Oh, will start the program next Mon.
Trading Schedule:
Instruments: 6E (primary) and CL (backup)
Trading Hours: 8:00 am to 12:00 noon EST
Trade Size: multiple-contract trades (maximum 5 contracts/trade)
PTs: 6 - 8 - 12 + a runner
SL: 4-6
Weekly Goal: $1K to $2K
I'm not sure if it's appropriate to include the link here. Please private message me if you want the link for your further investigation.