Forex rebates on every trade - win or lose!

Harlosh
I have only heard word of mouth of Tom Hougaard Fibonacci seminar but sounds similar to that taught by
Sandy Jadeja at www.spreadbettingtowin.com
I hate screenwatching and just trade end of day (mostly) so FX figures based around 8PM for better or worse?
6 pattern (up and down)-retracement,extension, projection, expansion, Gartley 222 and butterfly.
Simple criterion for entry and stop (often quite close). Theoretically small losses and big wins?
You may or may not want to pay for course and you may or may not think I am quite mad but I am quite happy to use Fibonacci in this way as I view human behaviour in the financial markets as just an extension of nature's number.

Harlosh, you can find out about fib and how traders use it (and how you can use it) at the interactive broker site. I've just watched it and found it very informative.

http://www.interactivebrokers.com/en/general/education/priorWebinars.php?ib_entity=uk

The date you want is 9 nov 2005. Guys got a pretty auwful voice but the contents good. think you can skip the first 15 mins or so

Well I saw Tom H at a London Traders wotsit when I was entertained by MM for a little while.

He's a great speaker and entertainer and I'm sure that his research is very comprehensive, but I came away thinking that Fibonacci is a load of bunkum. Ashley James would probably disagree though.

:o)

When I say it's bunkum, I mean that I'd rather buy a market because it is actually rising rather than buy it because it's at, say, a 38.2% Fibo retracement and might go up.

There's a big difference imo.

Hodgins, Goforit, Many thanks.

I'm more with Hilary really - I prefer to trade on price rather than something like Fibs and don't want to get too involved in them but am interested enough to do a little reading or watching so thanks for your help.

Hilary,try the above site, the reason I thought it was interesting was the way the guy was showing you how to use it to help you achieve a good way of entering a trade or adding to a position.

Saw tom last year, as you say very entertaining and great speaker.

Not suggesting anyone else's case is wrong but if you trade FULL Fibs with stops just the other side of recent highs/lows and entry criteria is based on open/close but only if it crosses through one or more Fib points back in the appropriate direction then it is almost a form of swing trading.
There are plenty of better and more knowledgeable currency traders on this board than me but as not necessarily a day trader it keeps me away from bigger losses whilst trying to stay with bigger winners. I like it for change of trend (or countertrend within bigger trend) but if it turns out to be a continuation/flag pattern it gets me out without much damage.

hodgins, certainly going to look more closely at fibs, just given me an excellent entry point on cable on the 5 & 10 min charts.

Would that be long around 8736 GFI as a matter of interest?

yea,and just done another one!

gfi....I hope you're right.

Apparently, Blair made a little slip in his TUC speech yesterday suggesting that unemployment figs will be better than expected.

We'll all know in less than 15mins.

I'm not sure what impact that will have on the market if true. Any thoughts anyone?

My take is that if unemployment fig's are good then cable ought to go up but I could be wrong.

That's the theory, Bakko, but the market already reacted to Blair's comments yesterday afternoon so that's probably already in the price and earnings have just come in below concensus.

Notwithstanding, I still see it as a long for the time being.

Me too Hilary but that resistance around 60 then further resistance at 75 area may hold it back today in my view. Hope I'm wrong though.

Thanks Hilary

Yes, H, but it's also getting support from the rising uptrend line in place since Monday afternoon.

One or the other will give soon.

Bounce off the 78.6% Fib Goforit?

Morning folks, have been quietly trading cable intermittently. Good stuff on the thread, I'm long from 733.

Morning Seymour - a better entry level than I :-)