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  #57354  
Old Mar 5, 2010 1:04pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default Pay your dues

Master this "free" material and you will find yourself on a road traveled by very few people. "Free" in quotes? I did that because I wanted to make a distinction. This material is free to read and digest except the costs involved with the hardware/software and connection required to access it. Barring the afore written contention, there is no more "free" material.
I have just finished trading this week and have never finished a period more rewarding during my trading career (since Nov 10, 2009). The account grew at an astounding clip and my "zone" has been clearly defined. I will improve no doubt, but I KNOW what I am doing and I KNOW the direction I am going. I am bragging. I am blessed. I am fortunate, in awe, humbled, proud, blown away etc etc

More than anything, I am grateful.

NONE OF THIS WAS "FREE"

When I think of the fine people who have given so selflesly here, I can't bring myself to assign the value "free" to what I have experienced. Most of my posts are directed at the newer traders/students here and this one is no different. Where the rubber hits the road for me now is that I can't help but feel that it is time for me to give some of wht has been given to me. What was given to me was paid for by others in lost sleep, lost time with loved ones, pain, divorce, lost money, guilt, second guessing, lost self esteem, frustration and for some that I have read and know the lost a part of themselves. I feel an obligation to write today a straight forward and hopefully a sobering but positive message as I have felt some of these things myself. I will not be able to learn this stuff for you but maybe I can appeal to your present state of mind on whatever level you are on in your learning to trade journey. With all that said I will now make a statement that many who I respect will disagree with. I believe that just about anyone has the potential to be a profitable professional day trader. The obvious variable is how?

Just like my trading style is nothing new -all borrowed and assembled from some really good parts-I am going to borrow many things already said here and just say them a little differently. You see I realized that what we are doing on the J16 thread is pretty much all the same stuff just a different way of looking at it based on our own personalities. The basic "Dirt Simple" material doesn't change, it is just applied according to your comfort level and personal style. I persoanlly do not trade the daily charts much. If you are a beginner you should--period. It's a Dirt Simple
commandment.

Now I'm 43 yrs old and haven't been trading as long as I'd like but I know some stuff and you new ladies and gents listen good to the following or don't waste your time here or your family's time there.

These are the CRUCIAL elements that make trading into a consistent money making business rather than a fruitless gambling exercise.

1.Business: Treat trading like it is a business. Your government is treating your trading like a business from day 1 if you are using bonafide funds to trade with. Approaching your trading like a business is mandatory in every single trade, day or year that you trade.
2.Education: In any successful business, the proprietor needs to know what he is doing. In our business, it is about learning the technical aspects of trading. You don’t get fully educated by reading a book, watching videos or trading your own "fully funded" account. Trying to trade your own "fully funded" account as a newbie in a “trial and error setting” can only do one thing, defeat you. I don't care what your path to learning might be. Demo trade several months or however long it takes for you to get comfortable with the material before trading with real money; when you begin to trade with money, keep your position sizes small. ‘Hands-on’ education is what is needed to even begin to understand the complexity of trading. You are fortunate enough to have found this material and get the benefit of many posts left here 7 days a week. You will learn THE correct basics on trading at J16. Education during a real time setting allows you to keep your learning curve small and protect your capital through the long and treacherous process. Once you understand then you can commit funds to a live account.
3.Psychology: To be a consistently profitable day trader you must have the proper mind set; I got my mind right way before I was able to understand the material. For some, it is the other way around. Without the proper mindset you might as well head to a casino. You will find almost as many people willing to take your money there as you will find trading forex. Simply put, you must be immune to losing money and must forget your last trade regardless of whether you made or lost money. Losing money is a reality in this business.
4.Methodology: You must learn the proper way to trade the basic technicals of forex as taught here and never deviate from these basic foundations. Go astray from this advice and you will find the the second guessing yourself and the 20/20 hindsight as uninvited guests who are in no hurry to leave. Accepting that losses are a part of the business and getting the proper mindframe will insure that you will never second guess yourself because every single trade will only be placed when certain conditions are met, the same way, all of the time, regardless of the market environment.
5.Focus/Commitment: At all times, you must keep your eye on the prize, making money. This sounds so simple, yet you will find yourself while learning allowing perfectly profitable trades turn into losers for innumerable reasons. You must convince yourself that there is no option for longterm failure. Failure over the longterm means that you gave money to the winners. I don't want to be THAT guy.
6.Patience: Patience comes in many forms when it comes to trading. We must wait for our trade to come, wait for the proper tome to close a trade, wait until we know our material, wait for tomorrow, next week etc. Never force a trade. Wait for the proper technical setup. Let the trades come to you the same as any "conventional" business lets the customers come to them. It's ok to pass on a trade I promise. There will be more. I promise again.
7.Discipline: Develop your own rules based on th material taught here and your own defineable observations and stick to them ALL the time. Forgetting or ignoring your rules will make someone else a profitable trader and spiral your psycology down into bottomless mind traps. Use proper money management do not overleverage yourself. USE STOP LOSSES.
8.Stop Losses: Use them as if your life depended on them, they are an ABSOLUTE MUST; they allow you to manage the trade the right way and maximize gains. If you do not use stops, stop trading right now! Seriously. Never assume a trade has to come back to your entry price to get you out at breakeven. Now if you don’t believe me? Try it and see what it does to your head. When you play for breakeven without a stop it is game over. Try philanthropy instead of trading. It's your calling. The minute you do not use stops, this immediately throws you into the category of the vast majority of "traders" who are doing nothing more than giving their money away. Remember this too, a few winning trades can easily lead you into false sense of security. Always use stops, they are there to
protect you!
9.Risk/reward ratio: Not many beginners use this to their advantage. You should never trade unless you have a defined and profitable risk/reward ratio. By doing this, believe it or not, you can be a very successful trader if you are only correct a fraction of the time on your trades. You are probably asking how is this possible? It is all about trading the right way and managing the trade effectively. Using proper entry and exit prices along with using stops effectively allows one to make money on a consistent basis.

I am here today because many went before me and paid their dues. Remember, this material is not "free" please treat it as such. There is an infastructure here that needs to be maintained with the experiences of all who find success because of it. Geeze! How many great traders careers has this thread fostered? What a magical place for me this has been. It is my hope that the new students will find success here as well.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57354  
Old Mar 5, 2010 1:04pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default Pay your dues

Master this "free" material and you will find yourself on a road traveled by very few people. "Free" in quotes? I did that because I wanted to make a distinction. This material is free to read and digest except the costs involved with the hardware/software and connection required to access it. Barring the afore written contention, there is no more "free" material.
I have just finished trading this week and have never finished a period more rewarding during my trading career (since Nov 10, 2009). The account grew at an astounding clip and my "zone" has been clearly defined. I will improve no doubt, but I KNOW what I am doing and I KNOW the direction I am going. I am bragging. I am blessed. I am fortunate, in awe, humbled, proud, blown away etc etc

More than anything, I am grateful.

NONE OF THIS WAS "FREE"

When I think of the fine people who have given so selflesly here, I can't bring myself to assign the value "free" to what I have experienced. Most of my posts are directed at the newer traders/students here and this one is no different. Where the rubber hits the road for me now is that I can't help but feel that it is time for me to give some of wht has been given to me. What was given to me was paid for by others in lost sleep, lost time with loved ones, pain, divorce, lost money, guilt, second guessing, lost self esteem, frustration and for some that I have read and know the lost a part of themselves. I feel an obligation to write today a straight forward and hopefully a sobering but positive message as I have felt some of these things myself. I will not be able to learn this stuff for you but maybe I can appeal to your present state of mind on whatever level you are on in your learning to trade journey. With all that said I will now make a statement that many who I respect will disagree with. I believe that just about anyone has the potential to be a profitable professional day trader. The obvious variable is how?

Just like my trading style is nothing new -all borrowed and assembled from some really good parts-I am going to borrow many things already said here and just say them a little differently. You see I realized that what we are doing on the J16 thread is pretty much all the same stuff just a different way of looking at it based on our own personalities. The basic "Dirt Simple" material doesn't change, it is just applied according to your comfort level and personal style. I persoanlly do not trade the daily charts much. If you are a beginner you should--period. It's a Dirt Simple
commandment.

Now I'm 43 yrs old and haven't been trading as long as I'd like but I know some stuff and you new ladies and gents listen good to the following or don't waste your time here or your family's time there.

These are the CRUCIAL elements that make trading into a consistent money making business rather than a fruitless gambling exercise.

1.Business: Treat trading like it is a business. Your government is treating your trading like a business from day 1 if you are using bonafide funds to trade with. Approaching your trading like a business is mandatory in every single trade, day or year that you trade.
2.Education: In any successful business, the proprietor needs to know what he is doing. In our business, it is about learning the technical aspects of trading. You don’t get fully educated by reading a book, watching videos or trading your own "fully funded" account. Trying to trade your own "fully funded" account as a newbie in a “trial and error setting” can only do one thing, defeat you. I don't care what your path to learning might be. Demo trade several months or however long it takes for you to get comfortable with the material before trading with real money; when you begin to trade with money, keep your position sizes small. ‘Hands-on’ education is what is needed to even begin to understand the complexity of trading. You are fortunate enough to have found this material and get the benefit of many posts left here 7 days a week. You will learn THE correct basics on trading at J16. Education during a real time setting allows you to keep your learning curve small and protect your capital through the long and treacherous process. Once you understand then you can commit funds to a live account.
3.Psychology: To be a consistently profitable day trader you must have the proper mind set; I got my mind right way before I was able to understand the material. For some, it is the other way around. Without the proper mindset you might as well head to a casino. You will find almost as many people willing to take your money there as you will find trading forex. Simply put, you must be immune to losing money and must forget your last trade regardless of whether you made or lost money. Losing money is a reality in this business.
4.Methodology: You must learn the proper way to trade the basic technicals of forex as taught here and never deviate from these basic foundations. Go astray from this advice and you will find the the second guessing yourself and the 20/20 hindsight as uninvited guests who are in no hurry to leave. Accepting that losses are a part of the business and getting the proper mindframe will insure that you will never second guess yourself because every single trade will only be placed when certain conditions are met, the same way, all of the time, regardless of the market environment.
5.Focus/Commitment: At all times, you must keep your eye on the prize, making money. This sounds so simple, yet you will find yourself while learning allowing perfectly profitable trades turn into losers for innumerable reasons. You must convince yourself that there is no option for longterm failure. Failure over the longterm means that you gave money to the winners. I don't want to be THAT guy.
6.Patience: Patience comes in many forms when it comes to trading. We must wait for our trade to come, wait for the proper tome to close a trade, wait until we know our material, wait for tomorrow, next week etc. Never force a trade. Wait for the proper technical setup. Let the trades come to you the same as any "conventional" business lets the customers come to them. It's ok to pass on a trade I promise. There will be more. I promise again.
7.Discipline: Develop your own rules based on th material taught here and your own defineable observations and stick to them ALL the time. Forgetting or ignoring your rules will make someone else a profitable trader and spiral your psycology down into bottomless mind traps. Use proper money management do not overleverage yourself. USE STOP LOSSES.
8.Stop Losses: Use them as if your life depended on them, they are an ABSOLUTE MUST; they allow you to manage the trade the right way and maximize gains. If you do not use stops, stop trading right now! Seriously. Never assume a trade has to come back to your entry price to get you out at breakeven. Now if you don’t believe me? Try it and see what it does to your head. When you play for breakeven without a stop it is game over. Try philanthropy instead of trading. It's your calling. The minute you do not use stops, this immediately throws you into the category of the vast majority of "traders" who are doing nothing more than giving their money away. Remember this too, a few winning trades can easily lead you into false sense of security. Always use stops, they are there to
protect you!
9.Risk/reward ratio: Not many beginners use this to their advantage. You should never trade unless you have a defined and profitable risk/reward ratio. By doing this, believe it or not, you can be a very successful trader if you are only correct a fraction of the time on your trades. You are probably asking how is this possible? It is all about trading the right way and managing the trade effectively. Using proper entry and exit prices along with using stops effectively allows one to make money on a consistent basis.

I am here today because many went before me and paid their dues. Remember, this material is not "free" please treat it as such. There is an infastructure here that needs to be maintained with the experiences of all who find success because of it. Geeze! How many great traders careers has this thread fostered? What a magical place for me this has been. It is my hope that the new students will find success here as well.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57546  
Old Mar 8, 2010 8:06am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by supremeChaos View Post
i think it's a silent trend... traders are getting younger & younger
No kidding! Have you seen this little guy?



He's even younger than Benji!

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57547  
Old Mar 8, 2010 8:14am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Ezzy View Post
No wonder I am not a successful trader......to me the PB looks great, big enough, 61 fib, PPZ......look like its back to the beginning of thread to me and strat re-reading lol.
While you cant read the thread too many times in my estimation, just as important is to watch the price action on the different time frames over the next couple of weeks concerning this bar. Chart time = experience in my opinion.


K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57549  
Old Mar 8, 2010 8:19am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by artov View Post
And these are the young ones who ignored the J16 thread.

http://www.youtube.com/watch?v=LMtqDTrj0Xg


K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57561  
Old Mar 8, 2010 10:43am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default USDCHF

There are some good trades setting up early this week. Here is one. I will look for shorts here at the weekly 38.2 fib area (1.0745 area). I'll post another chart when the appropriate price action forms on 1 hr or 4hr.

K.I.S.S.
Attached Thumbnails
Click image for larger version

Name:	usdchfhourly.jpg
Views:	49
Size:	117.2 KB
ID:	434621    
__________________
Together we all kick ass!-----Dirt Simple

Last edited by KissFan, Mar 8, 2010 11:10am
Reply With Quote
  #57569  
Old Mar 8, 2010 12:18pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ertorque View Post
Hi Kiss,
I am having trouble to spot 1.0745 area as your weekly 38.2 fib. Could you post a chart? Thanks.


CY

I did post a chart can you see it now on my post? Or are you asking how I came up with the fib level?

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57570  
Old Mar 8, 2010 12:20pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
kiss here is your PA -off of 50 fib enjoy it

I took it only on the demo account just for fun

I'm enjoying other trades for the moment

all the best!!

Attachment 434688

Thanks triger! I am going to wait for a 1 hr or 4hr signal. This will be a longer term short for me based on the way the weekly closed.

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57546  
Old Mar 8, 2010 8:06am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by supremeChaos View Post
i think it's a silent trend... traders are getting younger & younger
No kidding! Have you seen this little guy?



He's even younger than Benji!

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57547  
Old Mar 8, 2010 8:14am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Ezzy View Post
No wonder I am not a successful trader......to me the PB looks great, big enough, 61 fib, PPZ......look like its back to the beginning of thread to me and strat re-reading lol.
While you cant read the thread too many times in my estimation, just as important is to watch the price action on the different time frames over the next couple of weeks concerning this bar. Chart time = experience in my opinion.


K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57549  
Old Mar 8, 2010 8:19am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by artov View Post
And these are the young ones who ignored the J16 thread.

http://www.youtube.com/watch?v=LMtqDTrj0Xg


K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57573  
Old Mar 8, 2010 12:51pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ertorque View Post
Sorry but the chart that you posted earlier was an hourly chart (the fib levels were barely visible there). Because you mentioned 1.0745 area was the 38.2 Fib level of the Weekly chart, I then started to checked the weekly chart but could not draw fib levels such that 38.2 coincides with 1.0745 and hence my question in my previous post.

Am I missing something here or have I misunderstood certain concepts regarding fib levels? Appreciate your clarifications for a newbie.

CY
Nathan is correct. I apologize for the misunderstanding. I trade by pulling fibs from theweekly and monthly and I look for PA in the areas.

K.I.S.S.
Attached Thumbnails
Click image for larger version

Name:	usdchfweek.jpg
Views:	49
Size:	106.8 KB
ID:	434755    
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57561  
Old Mar 8, 2010 10:43am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default USDCHF

There are some good trades setting up early this week. Here is one. I will look for shorts here at the weekly 38.2 fib area (1.0745 area). I'll post another chart when the appropriate price action forms on 1 hr or 4hr.

K.I.S.S.
Attached Thumbnails
Click image for larger version

Name:	usdchfhourly.jpg
Views:	49
Size:	117.2 KB
ID:	434621    
__________________
Together we all kick ass!-----Dirt Simple

Last edited by KissFan, Mar 8, 2010 11:10am
Reply With Quote
  #57569  
Old Mar 8, 2010 12:18pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ertorque View Post
Hi Kiss,
I am having trouble to spot 1.0745 area as your weekly 38.2 fib. Could you post a chart? Thanks.


CY

I did post a chart can you see it now on my post? Or are you asking how I came up with the fib level?

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57570  
Old Mar 8, 2010 12:20pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by triger88990 View Post
kiss here is your PA -off of 50 fib enjoy it

I took it only on the demo account just for fun

I'm enjoying other trades for the moment

all the best!!

Attachment 434688

Thanks triger! I am going to wait for a 1 hr or 4hr signal. This will be a longer term short for me based on the way the weekly closed.

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57591  
Old Mar 8, 2010 7:01pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Bemac View Post
Regardless of ALL else, I watch for The Daily Breaking The Monthly & Add to my convictions when The Weekly also breaks The Monthly. (we're talking Closes here )

All else, in my consideration, is treated as an Intraday Scalp in which I cannot (should not) apply my Standard Trade Management Rules OR a Trend Continuation Trade.

You've heard it a hundred times but it probably takes a thousand to sink in.
The Training Ground is located in the Higher Timeframe Charts.
If you are currently thinking...
"That's all fine for those Other guys but I...
Wow! It's been a while since I have studied ICCE Bemac. ICCE put me on the track I'm on now with Fibonacci and I am a true believer. Those ARE some very strong moves outside of the rectangles. The way I see it, we are on the long side of the weekly but on the short side monthly. I am currently looking for long PA. A move above 1.63115 will have me looking to close and reverse at the weekly long extension levels 1.6343, 1.65102 or in the monthly pivot areas above.

K.I.S.S.
Attached Thumbnails
Click image for larger version

Name:	gbpchf.jpg
Views:	36
Size:	145.6 KB
ID:	434962    
__________________
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  #57599  
Old Mar 8, 2010 9:12pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

The previous bar is a Sunday bar which was formed in only a few hrs. We generally disregard these which would make your "outside bar" formed today not a genuine outside bar as we define it here. I hope that this helps.

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57573  
Old Mar 8, 2010 12:51pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ertorque View Post
Sorry but the chart that you posted earlier was an hourly chart (the fib levels were barely visible there). Because you mentioned 1.0745 area was the 38.2 Fib level of the Weekly chart, I then started to checked the weekly chart but could not draw fib levels such that 38.2 coincides with 1.0745 and hence my question in my previous post.

Am I missing something here or have I misunderstood certain concepts regarding fib levels? Appreciate your clarifications for a newbie.

CY
Nathan is correct. I apologize for the misunderstanding. I trade by pulling fibs from theweekly and monthly and I look for PA in the areas.

K.I.S.S.
Attached Thumbnails
Click image for larger version

Name:	usdchfweek.jpg
Views:	49
Size:	106.8 KB
ID:	434755    
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57591  
Old Mar 8, 2010 7:01pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by Bemac View Post
Regardless of ALL else, I watch for The Daily Breaking The Monthly & Add to my convictions when The Weekly also breaks The Monthly. (we're talking Closes here )

All else, in my consideration, is treated as an Intraday Scalp in which I cannot (should not) apply my Standard Trade Management Rules OR a Trend Continuation Trade.

You've heard it a hundred times but it probably takes a thousand to sink in.
The Training Ground is located in the Higher Timeframe Charts.
If you are currently thinking...
"That's all fine for those Other guys but I...
Wow! It's been a while since I have studied ICCE Bemac. ICCE put me on the track I'm on now with Fibonacci and I am a true believer. Those ARE some very strong moves outside of the rectangles. The way I see it, we are on the long side of the weekly but on the short side monthly. I am currently looking for long PA. A move above 1.63115 will have me looking to close and reverse at the weekly long extension levels 1.6343, 1.65102 or in the monthly pivot areas above.

K.I.S.S.
Attached Thumbnails
Click image for larger version

Name:	gbpchf.jpg
Views:	36
Size:	145.6 KB
ID:	434962    
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57599  
Old Mar 8, 2010 9:12pm
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

The previous bar is a Sunday bar which was formed in only a few hrs. We generally disregard these which would make your "outside bar" formed today not a genuine outside bar as we define it here. I hope that this helps.

K.I.S.S.
__________________
Together we all kick ass!-----Dirt Simple
Reply With Quote
  #57636  
Old Mar 9, 2010 4:57am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default

Quote:
Originally Posted by ertorque View Post
Hi KISS,

On the weekly chart you posted, it seems that you draw the Fibs on only the last bar.
This is new to me as I thought one has to identify the last significant swing and locate the low and high of that swing to get the Fib levels.
Is drawing Fib levels on just a bar to anticipate retracement part of the J16 method?

I tried to do the same as you on my Ibfx MT4 and could not get it displayed as yours ( yours had the word "buysell" on certain levels and your Fib has the line extended to the right whereas mine has just numbers only and...
Good morning ertorque. Like all of us here, I use J16 method as a basis for my trading. Over time and based on personal experience, I have developed a trading style that works with my personality based on hundreds of hours of reading all the great material contributed by many of the senior posters here. If you will stick with this, you will too. Over the past couple of years I have kept a journal. I am really glad that I did start this process as I can see now how far I have come since starting my journey. I now have a good foundation based on the offerings here on this thread. You are not wrong to plot your fibs from swing high to low. You are doing fine. You are welcome to read more of my personal material here.
http://www.forexfactory.com/showthre...=70069&page=43 Post #642 You are welcome to post any questions to me there as well. I am not trying be stingy with my own info, I just do not want to clutter Jim's thread with my own junk that might confuse the newer students. Now, with your fib tool on MT4 you go to objects double click fibo and open the fib levels tab. You can add or delete fib levels here. You can also highlight description and type whatever label you want. Use %$ in the description area to display price on any fib level. I hope this helps you.

K.I.S.S.
__________________
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  #57643  
Old Mar 9, 2010 7:40am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default GBPCHF

Careful with this 4hr set up. This is nice bar at a swing low just like we teach here but be aware of your surroundings. I will not trade this. (so it should take off to the moon)

K.I.S.S.
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  #57636  
Old Mar 9, 2010 4:57am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
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Quote:
Originally Posted by ertorque View Post
Hi KISS,

On the weekly chart you posted, it seems that you draw the Fibs on only the last bar.
This is new to me as I thought one has to identify the last significant swing and locate the low and high of that swing to get the Fib levels.
Is drawing Fib levels on just a bar to anticipate retracement part of the J16 method?

I tried to do the same as you on my Ibfx MT4 and could not get it displayed as yours ( yours had the word "buysell" on certain levels and your Fib has the line extended to the right whereas mine has just numbers only and...
Good morning ertorque. Like all of us here, I use J16 method as a basis for my trading. Over time and based on personal experience, I have developed a trading style that works with my personality based on hundreds of hours of reading all the great material contributed by many of the senior posters here. If you will stick with this, you will too. Over the past couple of years I have kept a journal. I am really glad that I did start this process as I can see now how far I have come since starting my journey. I now have a good foundation based on the offerings here on this thread. You are not wrong to plot your fibs from swing high to low. You are doing fine. You are welcome to read more of my personal material here.
http://www.forexfactory.com/showthre...=70069&page=43 Post #642 You are welcome to post any questions to me there as well. I am not trying be stingy with my own info, I just do not want to clutter Jim's thread with my own junk that might confuse the newer students. Now, with your fib tool on MT4 you go to objects double click fibo and open the fib levels tab. You can add or delete fib levels here. You can also highlight description and type whatever label you want. Use %$ in the description area to display price on any fib level. I hope this helps you.

K.I.S.S.
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  #57643  
Old Mar 9, 2010 7:40am
KissFan's Avatar
Can I get an Amen from the back row
 
Member Since Jan 2008
Default GBPCHF

Careful with this 4hr set up. This is nice bar at a swing low just like we teach here but be aware of your surroundings. I will not trade this. (so it should take off to the moon)

K.I.S.S.
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ID:	435415    
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