Fibonacci Forex Trading

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47 Comments

  1. Hmm, interesting question. I suppose that you would have to do a ton of backtesting to confirm whether it does off the 50% to the 61. However, who has the time? Other factors also play strongly into whether price action will retrace at certain Fib levels. Take care…

  2. Price action trading is the way to go I have discovered though I must admit that I still use fibonacci as a guide with the pipdaq setups. They work really well together…

  3. WHY is this supposed to work in the first place and if it works how come the market does not become efficient to this "exploitative opportunity" considering so many traders are supposed to use these fibonacci based strategies?

  4. Many people call or email me that Fibs don't work, all you need to do is watch our videos, classes, and daily forex blogs to see Fibs in action. Look at EUR/USD swing low around Jan 12, 2012 and high at Feb 9, 2012, where did price go before it found support and reversed up 300 pips? The 50% FIBONACCI level we taught 5 years ago and still use as a smaller part of our systems now. Only people who think fibs don't work do not know how to use them.

  5. @ForexMaster100 This video was done 5 years ago! Our systems now are much more advanced and we have statistical tools that show REAL TIME trend. So where in past we'd buy 50% level we now more often buy 38% fib if move back to it had less momentum than the previous TREND move momentum. If trade fails we lose 8-12 pips and look again at the 50% and 62% levels BUT ONLY if momentum makes sense and we also look at DAILY/WEEKLY/MONTHLY stat trend. If today's trend AGAINST weekly we pass!

  6. @FXHEROS The STRONGER the move, the more likely the 38% fib will be support. I prefer taking the 50% level and sometimes scale in at 62% level with stop 5-10 pips outside of that. That's for INTRADAY fibs but for Fibonacci levels off of longer term multi day or week moves rules totally different. This video is for intraday trading only, see our website for our longer term strategies.

  7. @sactemp777 One reason I primarily trade Forex is because I have tools that show in real time what the momentum is and trailing stops that are also based on this. Thus once in a trade and momentum is strong its likely to continue but when not I exit with small loss, break even or sometimes 5-15 pip profit. The KEY to trading no matter what you trade is small losses and BIGGER wins. So for stocks, find its ATR and good profit is 20-35% of its Average True Range.

  8. Can anyone confirm if price retraces most accurately off the 50% I hear 80% of the time to a continuation than 61.% which happens 20% of the time? Also, if price breaks or reaches near 78.6% price is preparing for a reversal in the trend anyone got experience of this thanks.

  9. hi
    20-25 pips is for currency…
    what about equity stock? how much dirction of the move you suggest? any specific percentage of direction of move you have come up with?

    Rgds

  10. @tromboista Most professional traders have multiple monitors. I use 4, one 30 inch and 3 24 inch dells. It's impossible to record all my screens in video and it would be too big to stream. I do fib levels EACH NIGHT, takes me 30 minutes and the levels I manually calculate show up on all our traders charts each day. Come to our class for 3 months free and YOU CALCULATE the percentages that they work. Make your own opinions of Fibs once educated and you SEE.

  11. @tromboista NOTHING works 100% of the time or even some days 70% of the time. NOTHING. So with that out of the way yes you will have losses using Fibonacci and every other trading tool or system out there. They key is small losses and holding trending winning trades for as many pips as you can or scaling out as it goes your way. We also use statistical momentum tools we developed to take SOME FIB trades while avoiding others. I'll give you 3 months of training free at our site to learn.

  12. @hellahotdude Most new traders have NO CLUE HOW LITTLE THEY KNOW. Fibonacci is maybe 10-15% of our trading system. We use them in CONJUNCTION with other support resistance areas, how many waves the market has moved and MOST IMPORTANTLY our statistical momentum tools. If EUR/USD has pulled back to its 50% fibonacci level and has -80 weakness its too weak to buy, we'd pass on that one or wait to see if it stalls there and then buy or buy the 62% Fib. We also wait for pattern signals first as well

  13. @HOW2GetFREEforexROBO We trade only intraday but Fibonacci areas work on all time frames. I spend 30-45 minutes per day analyzing the 12 main pairs I trade on multiple time frames and I put these longer term fibonacci levels on our charts available free to all of our traders. Would I waste 12 hours+ a month doing this for my own trading and trading of our thousands of users if I felt they didn't work?

  14. @tromboista NOTHING works 100% of the time. New traders seem to always be focused more on winning percentages than EXPECTANCY which deals more with the win vs loss ratios. That's the #1 secret to trading. You can be 35-40% winning but if you have a lot of break even trades, small 6-10 pip losses and have wins from 20-50 pips you'll be doing well. Plus most traders don't have any good statistical measure of how strong or weak a currency is. We don't buy if currency is extremely weak, ever.

  15. @r29 Fibonacci levels work on every market I've traded. I started out 11 years ago only trading stocks then started trading S&P futures and for last 6 years focused mostly on Forex. The bigger the market the more Fibonacci levels work. I doubt they'd work on penny stocks for example as amateur traders don't understand how to use Fibs. We also mostly focus on FIBONACCI CONFLUENCE areas which is a much more advanced use of Fibs that we teach in our class. Signup for 3 months FREE at our site.

  16. @convictPKlol Your comments are pure nonsense. Fibonacci levels are used by the majority of professional traders. Don't believe me then if visiting NY or Chicago stop into a trading firm and talk to the traders. Secondly Fibonacci levels are a bit of an art and we teach them DAILY in our Forex classes. There are times we buy the 38% retracement, most of the time wait for 50% and sometimes the 62%. We also use OTHER TOOLS like our currency meter to measure momentum, NEVER buy super weak ones

  17. this shit is scandelous. I suggest you find your own method of trading. I method is price action and it works 90% of the time, and it doesnt need any shitty signals.

  18. Are there any videos done as it happens? I´ve tried this and many things go wrong. It doesn go as smooth.
    1. The retracement happens but it doesn´t resume the trend. After 2 candles it goes the opposite direction once more. Panic.
    2. At the retracement, it doesn´t stop at the 50 or 60%. It just keeps toward 100%
    2. When it comes back down then at 38% turns around and heads north.after you enter your trade.
    3. Only 2 candles form and turns around once more
    Very frustrating

  19. So can somebody explain why a lot of times you have the formation and your place the trade but the fibo does not work and it just keeps going. Is ther a way to identify when this is not going to work?

  20. Ive been reading about being a day trader for a few months now and ive gotta say its looking like my dream job.. everything is just so interesting and im doing my utter best to try and take everything in, and thank you so much for the video 🙂

    but I would like to know, what platform do you use for forex trading? or what program do you suggest i use? 🙂

  21. when u look at how amazing life is and and take into account all the strange unexplained creation phenomenons like Fibonacci sequence or the golden ration, its hard to say theres no such thing as intelligent design.

  22. @CurrencyCafe I know many large traders and over 80% of them use Fibonacci levels and profit targets. Nothing works 100% of the time and without other tools they may not even work 50% of the time however when they work there are often big moves off of them and that's the real key behind winning traders success, they hold winners and have much bigger winning trades then the tiny losses they have. You don't even need to be right 40% of the time if you have 2.5X bigger wins than losses.

  23. @AleksM1991 This is only a tiny piece of our software and how we trade and teach. I do trade and we have a live room. Come to our classes and ask other traders in there how my real time calls work out. I created this software for my own trading and have traded for over 11 years now. Having a business selling the software I use doesn't hurt my trading, only helps it as I don't NEED to trade, don't need money and thus can be more patient waiting for optimal trades.

  24. @freeSCALPINGindicato Fibs and especially Fibonacci profit targets are very useful for scalping as they make good areas to use to estimate risk vs reward ratios. NEVER take trades with less than a 1.5x bigger potential profit than what you risk. If likely target is 10 pips and you are risking 10+ pips don't take trade. Only draw fibs on 25-35+ pip moves, under this they are completely WORTHLESS. The bigger the swing the higher % of the time they work and often to within 2-3 pips.

  25. @jenningsbg I agree and never claim otherwise. It's a small piece of how we trade and I personally use them more for their profit target ability and to spot likely counter trend trades when markets are up/down statistically too far and they reach the fib targets with LOW momentum or slowing momentum. Fibs are no more than 5 to 8% of our systems, come to our classes, watch our free videos and watch our daily forex blog to see how we use fibs. When used correctly they are very useful.

  26. @FreeFOREXautoROBOTT EAs don't work. I speak to over 100 traders a month and not one has ever told me they've made money from an EA. In creating an automated system its easy to make it profitable using PAST DATA but in the future when markets change as they always do then those systems usually lose a fortune. We teach discretionary trading instead using our statistically based momentum tools. If a market is up 4 days+ for example we look for counter trend trades.

  27. @makofski The #1 Secret to trading any market is small losses and bigger wins. NO TOOL works 100% of the time and only idiots think there are tools out there that do. This video is on Fibonacci but does not have the tools we use that show REAL TIME momentum. If the market retraces 50% but does so with low momentum then the odds of the Fib holding and causing a reversal are much higher. When momentum is high price blows right past them. Fibs are not even in our top 6 tools!

  28. @aqeel3344 We look at many things and Fibs are maybe 5-10% of our system. First look at the daily, weekly and monthly statistical trends and we focus on weekly trend and if up we buy pullbacks and if down we sell rallys. We not only use Fib support/resistance but other common ones like previous days/weeks/months highs and lows, weekly and monthly pivot points and a few others. Mostly though we use real time statistical momentum and buy strongest ones and sell weakest. Watch our classes.

  29. @bostrader If you look on our site and in youtube we have up almost 100 videos. This is just ONE small component of the way we trade and teach and we never ever claimed otherwise.

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