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Pure & simple Abonacci system

  • #141
  • Mar 25, 2014 11:07pm Mar 25, 2014 11:07pm
Quoting hollowhead
Wow - I'm impressed with level of research going into this. There are three elements to how Bobi described his Abonacci trading based on his predeterminatino theory. 1. A formula to calculate a baseline. 2. Different length templates for nearer or longer term views. There is 103, 220, 680, 594, 965, 1030 to name 6 out of over 60) and each of those can be multiplied by 10, 100 and 1000 - that makes alot of template. 3. Rules - each template has different behaviors and therefore trading rules. I don't think anyone is likely to actually work out Bobi's...
Well said............................................
  • #142
  • Mar 26, 2014 3:53am Mar 26, 2014 3:53am
I have discovered a very simple formula to obtain a baseline of guarantees.
We take the maximum and the minimum of 2013, in the EU

Maximum: 1.38924
Minimum: 1.27438
Difference: 1148

We applied the 23.6 fibo value: 271
This value we add to the opening price of 2014
2014 Opening price: 271 + 1.32633: 1.35343

The 2014 base line for the template 103 is 1.35343
Result:
Attached Image (click to enlarge)
Click to Enlarge Name: 26-03-14.png Size: 30 KB
  • #143
  • Mar 26, 2014 3:56am Mar 26, 2014 3:56am
Hey Hollowhead,

First and foremost, thanks for posting this system. It's made chart reading even more fun and it works.

However, my biggest gripe is changing the base line figure every-time I open a new graph for a different pair.

Has anyone got any ideas to make this process a bit more streamlined?

Anyway, thanks again
Follow me at andrewfx2020 (dot) com
  • #144
  • Mar 26, 2014 4:12am Mar 26, 2014 4:12am
thanks hollowhead for the this abonacci system....i am using it in real account and it profit quite well for me it profit 80% of my total trade
  • #145
  • Mar 26, 2014 4:47am Mar 26, 2014 4:47am
Quoting AussieForexM
Hey Hollowhead, First and foremost, thanks for posting this system. It's made chart reading even more fun and it works. However, my biggest gripe is changing the base line figure every-time I open a new graph for a different pair. Has anyone got any ideas to make this process a bit more streamlined? Anyway, thanks again
Hi Aussie - I guess the only thing to do is create the charts once and then save them as a profile.
  • #146
  • Mar 26, 2014 4:48am Mar 26, 2014 4:48am
Quoting mitz anthony
thanks hollowhead for the this abonacci system....i am using it in real account and it profit quite well for me it profit 80% of my total trade
Great news - congratulations.
  • #147
  • Mar 26, 2014 4:50am Mar 26, 2014 4:50am
Quoting jmss59
I have discovered a very simple formula to obtain a baseline of guarantees. We take the maximum and the minimum of 2013, in the EU Maximum: 1.38924 Minimum: 1.27438 Difference: 1148 We applied the 23.6 fibo value: 271 This value we add to the opening price of 2014 2014 Opening price: 271 + 1.32633: 1.35343 The 2014 base line for the template 103 is 1.35343 Result: {image}
Thanks for the insight jmss.
  • #148
  • Mar 26, 2014 4:50am Mar 26, 2014 4:50am
Quoting breakthru56
hollowhead What you have just said is even more encouraging.........and a good way-foward. But....as our chairman.....( my apologies if giving you a title is offending but its all with all due respect), I would kindle ask if you can surf thru all we have said .........extract from each of us VITAL suggestions, then every Friday/ weekend we all review the past week's submissions, and then concoct... as a group... a powerhouse of our discusions. I mention this coz it would be a pity to see some people fade away from such a well thought out and organised...
I can try - but can't guarantee anything.
  • #149
  • Mar 26, 2014 5:25am Mar 26, 2014 5:25am
I have been testing aboonacci (Murrey math baseline) and i have finally come up with good wining after filtering signals using divergence and adx.

So far, i have won 9 trades in a row !! YAY!

I made profit even in range market by adjusting length.

Risk to reward ratio is over 1:1.. Its damn good!


I am trading short term and using three templates. For eg. 78,156, 624 length for GBPJPY.

Guys, just develop a bias from bigger length chart and take action on smaller one.

I am sure you too will discover how well this works!

Murrey maths is more than perfect for finding baseline. Just look how well the price respects its support and resistance lines made by murrey.

Thank you so much, Steve!!
  • #150
  • Mar 26, 2014 5:46am Mar 26, 2014 5:46am
Also, I wanted to add that I am looking at abonacci levels as a key point where price will continue to go down or up from 0, 23.6 and 76.4.

I am not completely relying of abonacci levels. I am using it as tool and confirming it with weak signals (Divergence and adx trend).

I know some people will hate me for using adx and divergence as part of this strategy. But this is what is working for me.

In short, right now my strategy is abonacci levels (multi-timeframe), divergence(weak confirmation) and adx (weak confirmation).


This combination has given me perfect results.
  • #151
  • Mar 26, 2014 7:56am Mar 26, 2014 7:56am
Quoting fx01
Also, I wanted to add that I am looking at abonacci levels as a key point where price will continue to go down or up from 0, 23.6 and 76.4. I am not completely relying of abonacci levels. I am using it as tool and confirming it with weak signals (Divergence and adx trend). I know some people will hate me for using adx and divergence as part of this strategy. But this is what is working for me. In short, right now my strategy is abonacci levels (multi-timeframe), divergence(weak confirmation) and adx (weak confirmation). This combination has...
If it puts pips in the sky rocket that's all that matters.
  • #152
  • Mar 26, 2014 8:01am Mar 26, 2014 8:01am
Quoting breakthru56
{quote} I think P=1440....needs to be reviewed..
MMPeriod =1440 is the setting used to set up your Murrey Chart on a daily timeframe. 1440 minutes per day. If you want to set up a 4 hour chart then MMPeriod = 240. All signals can be taken off the daily chart since a level is a level whether viewed on a daily bar or a four (hour) candle stick.
  • #153
  • Edited 9:00am Mar 26, 2014 8:52am | Edited 9:00am
Quoting hollowhead
Wow - I'm impressed with level of research going into this. There are three elements to how Bobi described his Abonacci trading based on his predeterminatino theory. 1. A formula to calculate a baseline. 2. Different length templates for nearer or longer term views. There is 103, 220, 680, 594, 965, 1030 to name 6 out of over 60) and each of those can be multiplied by 10, 100 and 1000 - that makes alot of template. 3. Rules - each template has different behaviors and therefore trading rules. I don't think anyone is likely to actually work out Bobi's...
Hi mate,

have you thought about 50% of those 256 trading days? That would eliminate subjective baseline setting. Since the Baseline is always the same, say 50% you could compare price behaviour in context of market sentiment and orderflow. So the question that it could be an error of calculation is avoidable. Last but not least, congrats nice thread
  • #154
  • Mar 26, 2014 9:08am Mar 26, 2014 9:08am
Quoting ubenders
{quote} MMPeriod =1440 is the setting used to set up your Murrey Chart on a daily timeframe. 1440 minutes per day. If you want to set up a 4 hour chart then MMPeriod = 240. All signals can be taken off the daily chart since a level is a level whether viewed on a daily bar or a four (hour) candle stick.
I agree. I think the MTF presents an additional complexity and I am not sure what it adds - a price level is the same whatever TF you are looking at the charts with. I would suggest that if someone wants to trade abonacci/MM Levels on shorter timeframes, then they can set the MM levels to reflect that TF and a desired period back and then set Abonacci levels accordingly.

When I first starting trading Bobi's system I loved that the larger templates gave me a bias. However, recently it has become less clear - on EU and GU there are larger template targets both long and short that are hundreds of pips apart. If you are to only trade with the larger template bias you would now be stuck. As we know, there are trends within trends and while spotting a trend is very easy when looking at a single chart, when you introduce higher TF charts things become less clear and traders end up in analysis paralysis. They inevitably enter trades without conviction or confidence, which leads to cutting profits too soon and leaving losses to run - the recipe for a dwindling account.

So, I lean towards a system that trades what I see on my chart, if it loses - that's fine, I either hedge or take the loss - either way is fine because my edge and RR means I'm good for the long-term. So, we each decide which TF we personally want to trade on? 15m? 1hr? 4hr? Daily? Weekly? Calculate the MM levels for that TF and a historical period. Take the baseline and insert abonacci levels and then trade a set of (tested) rules? For me, 4h and Daily is where I am most comfortable and where I think MM levels and Abonacci are strongest.

I'm wondering whether we will fall in the un-unique FF trap of making something simple, complicated.

Please don't take this as a negative or wanting to stop discussion, but I would encourage the pursuit of simplicity. I have said previously setting a baseline and length is only part of the method - trade management/discipline is what makes a good system profit.

Just musing...
  • #155
  • Mar 26, 2014 9:13am Mar 26, 2014 9:13am
Quoting FX-Ray
{quote} Hi mate, have you thought about 50% of those 256 trading days? That would eliminate subjective baseline setting. Since the Baseline is always the same, say 50% you could compare price behaviour in context of market sentiment and orderflow. So the question that it could be an error of calculation is avoidable. Last but not least, congrats nice thread
Honoured to have you visit FX-Ray - I am probably being thick (hence my username), but I am not sure I follow what you mean - would you mind expanding a bit?
  • #156
  • Edited 9:43am Mar 26, 2014 9:32am | Edited 9:43am
Quoting hollowhead
{quote} Honoured to have you visit FX-Ray - I am probably being thick (hence my username), but I am not sure I follow what you mean - would you mind expanding a bit?
Thanks alot hollow, of course I try. Since im not into abonacci or MM, forgive me any misconception here, just try to help according to numbers.

Well for example G/J:
I dont know whether you take the last year or a year back off today. With 50% I mean simply ((H+L)/2) or (1/2)*(H+L) which is the 50% level to use as baseline.
So the last year high and low are: 174.51 & 137.83
To put it into the equation: ( (174.51 + 137.83) / 2 ) = 156.17

So the baseline would be 156.17 or 156.25 (rounded)

Am still reading some posts, maybe I come up with some ideas for your lenght.

It isnt important if you use exactly the 50% or something else, more important to take away subjective settings to put price behaviour into context of market sentiment according to your MM levels. So you can recognize how price behave on those level at any given market phase, up, down, rangebound.

Add: through the high and low you can also get a range (H-L) and maybe you can extract the length from it. That would be based on volatility & range then. I wonder how your levels look like then
  • #157
  • Mar 26, 2014 9:42am Mar 26, 2014 9:42am
Quoting FX-Ray
{quote} Thanks alot hollow, of course I try. Since im not into abonacci or MM, forgive me any misconception here, just try to help according to numbers. Well for example G/J: I dont know whether you take the last year or a year back off today. With 50% I mean simply ((H+L)/2) or (1/2)*(H+L) which is the 50% level to use as baseline. So the last year high and low are: 174.51 & 137.83 To put it into the equation: ( (174.51 + 137.83) / 2 ) = 156.17 So the baseline would be 156.17 or 156.25 (rounded) Am still reading some posts, maybe I come up with...
Ah ok, I see what your saying - thanks for explaining. I did consider whether to test using the Annual Pivot, but the thing MM levels and Abonacci both do is create phases or rooms. So, matching the two methods to work together seems to make sense to me. Murrey and Gann can provide the baseline, and Bobi Abonacci can give me a template to trade - all I have to do is work out and trade the patterns of how price tends to respond to the levels. Simple in concept... in practice? Well that's the trading journey isn't it. Anyway, I'm deeply respectful of your experience, trading ability and willingness to share.
  • #158
  • Mar 26, 2014 9:47am Mar 26, 2014 9:47am
Quoting hollowhead
{quote} Ah ok, I see what your saying - thanks for explaining. I did consider whether to test using the Annual Pivot, but the thing MM levels and Abonacci both do is create phases or rooms. So, matching the two methods to work together seems to make sense to me. Murrey and Gann can provide the baseline, and Bobi Abonacci can give me a template to trade - all I have to do is work out and trade the patterns of how price tends to respond to the levels. Simple in concept... in practice? Well that's the trading journey isn't it. Anyway, I'm deeply respectful...
The pleasure is all mine
  • #159
  • Mar 26, 2014 2:11pm Mar 26, 2014 2:11pm
All details as supplied have been sent to the programmer for the EA any questions from him will be posted here for answers

Will keep you posted of progress

P
  • #160
  • Mar 26, 2014 2:12pm Mar 26, 2014 2:12pm
Quoting Paulus
All details as supplied have been sent to the programmer for the EA any questions from him will be posted here for answers Will keep you posted of progress P
Fantastic Paulus - thank you very much.
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