Filed Under (Forex eBook) by ForexDigg on 02-07-2008
At the first time i learn Forex trading i just use moving average, stoch, bolinger,etc. But i listen everybody use fibonacci for their analysis, until i work at Futures Company their using fibonacci to. Then i start learning from any source, until now i use fibonacci for my every open position. well if your new you should learn is great everybody use it for their analysis.
Note:
1. Not all Fib levels are alike.
2. No technical study is perfect, you must develop the skills to filter out bad trades,
and improve the odds of finding better trades.
3. Price action just before a Fib retracement can tell you something about the future.
4. Which Fib level causes the end of a retracement also can give a hint to future
price action.
5. No technical study is perfect, you must develop the skills to filter out bad trades,
and improve the odds of finding better trades.
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Simple Forex Trading System i making a lot system with this basic system you must read and learn it 
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When the first time i trade online Forex i found this great e book from ForexFactory.com maybe you will find the thread at the first page at ForexFactory.com. Phillip Nel really tech me how to use MACD at 4 hour time frame, but not just like that i try making the 89 Simple Moving Average at the 30mnt and 1 hour time frame it give me some pips to hehehhe, btw this really great e book Two Thumbs UP for Phillip Nel if i can i wanna give three or five Thumbs UP ….
View cut from the e book;
I stopped counting the pips for the April 2006 testing as it completely
convinced me of the success of this method. I randomly tested it using previous years
and the results were amazing. Average of 300+ pips per month and then I only trade
the trades that gives signals at these times 17:00, 21:00 and 01:00 (GMT +2). It gives
between 8-10 deals per month using the mentioned timeframes.. (I use Metatrader and
data supply by MIG.)
If you use patterns in the MACD that occur regular that gives results and use
them every time they occur you will most definitely make money.
I haven’t discuss nor used trendlines so far in this document and when you add
them it will most definitely helps you in defining your exit levels. The entry level are
determine by the MACD but the exit or profit levels is determine by support and
resistance levels. I use the moving averages as described earlier as well as Fibonacci
levels and then most definitely trendlines and price levels. I normally take the daily
graph and draw the trendlines according to it and then go to the 4 hour graph. I make
them nice and thick so that I can see them. Then I draw the different price levels such
as 1.2900, 1.3000, 1.3100 etc. It is amazing to see how the price find support and or
resistance at these levels.
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Filed Under (Forex MT4 Indicators) by ForexDigg on 01-07-2008
Filed Under (Forex MT4 Indicators) by ForexDigg on 01-07-2008
