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Pure & simple Abonacci system

  • #221
  • Edited 10:44am Apr 2, 2014 10:11am | Edited 10:44am
Quoting unimak
@hallowhead. i went thru the orignal master's thread and also yours. there are certain things which are changed than the original and hence need clarifications 1. how murray math way incorporated into this system to find the base line ?? 2. original boby thread did not reveal how he arrived at the baseline except that he used last year hlc . 3. 76.4 and 23.8 entry is fine but finding the base line is the crux of the entire system . pls throw some light on this. I believe in what boby has said , just these things need to be clarified .
I can't believe I have to type this again, but here goes - I'll try and put it another way.

1. This is not Bobi's system - I do trade his most recently shared system and you can see me all over the thread, which I reference it in post 1.
2. As you say Bobi's system depends on his templates and baselines - from that thread we have some templates and baselines for three (3) pairs.
3. Many on the thread wanted to be able to trade more instruments and not depend on Bobi's availability each year. So I started this thread having been inspired by ubenders to trade Abonacci/Fib levels using Murrey Maths as the basis for baselines and Abonacci lengths. NB. No-one is more grateful for what Bobi has given and shared than me, however, we all need to be able to trade independently into the future, and to be successful traders we each must develop our own method and way. Every successful trader will tell you this is an absolute truth.
4. I use the 23.6 and 76.4 levels because they give me a better RR and show a clear break of the MM levels. Many have struggled with SL placement as Bobi was more than vague on it. So I trade the levels for entry, TP and SL that give me a near 1:2 RR.

Hope that clarifies.
  • #222
  • Apr 2, 2014 10:44am Apr 2, 2014 10:44am
yes, I stand clarified and well i have shared my modification of the system without murray math .
  • #223
  • Edited 11:31am Apr 2, 2014 11:19am | Edited 11:31am
Looks very good, what setting so I need to use if I want to trade XAUUSD?

And if I'm correct you can just put a BUY STOP and a SELL STOP at those lines and wait
  • #224
  • Apr 2, 2014 11:43am Apr 2, 2014 11:43am
Quoting fabje
Looks very good, what setting so I need to use if I want to trade XAUUSD? And if I'm correct you can just put a BUY STOP and a SELL STOP at those lines and wait
Length - 6250, baseline - 1500
  • #225
  • Apr 2, 2014 12:01pm Apr 2, 2014 12:01pm
Quoting unimak
yes, I stand clarified and well i have shared my modification of the system without murray math .
  • #226
  • Apr 2, 2014 2:01pm Apr 2, 2014 2:01pm
Hi Steve and fellow traders - Just want to make sure I am doing it correctly. I still can't post pics but that is just me.
This is based on 14:54 eastern daylight savings time in the U.S.
OK - E/J is presently sitting at 142.790 which is below the 76.4 line - It has come from above the 76.4 line but not from above
the 100 line --- So in my understanding -- THERE IS NO SIGNAL FOR A TRADE - I have however set an ENTRY ORDER just above the
23.6 in the phase above the current phase just in case it decides to go there because it will have come from 76.4 lower phase, gone above
100 and hit 23.6. Are all these actions correct based upon Pure & Simple?

Tom

Edit: I am trading on H4 with a setting of 312 and baseline 137.500
  • #227
  • Apr 2, 2014 2:33pm Apr 2, 2014 2:33pm
Quoting tomthepoppop
Hi Steve and fellow traders - Just want to make sure I am doing it correctly. I still can't post pics but that is just me. This is based on 14:54 eastern daylight savings time in the U.S. OK - E/J is presently sitting at 142.790 which is below the 76.4 line - It has come from above the 76.4 line but not from above the 100 line --- So in my understanding -- THERE IS NO SIGNAL FOR A TRADE - I have however set an ENTRY ORDER just above the 23.6 in the phase above the current phase just in case it decides to go there because it will have come from 76.4...
Hi Tom - hope you're well.

I would agree - It's pretty the same as T5_103 with defferent entry levels. I would want price to have come from the 23.6 above for the short to be valid, but I would consider the EJ long worth a go. I have two pendings set on UJ straddling the current position. I think it will break one of each way (obviously). It's one of those situations where the long is very close to triggering, but a short would be valid as well.

FX01 mentioned using ADX and I think he is on to something - I've found that it is a good filter (and MACD Divergence) and compliments nicely. I used it to filter my GJ trade which is doing nicely on the TE account and also unlocked a large GJ hedge I had on another account. I am going to look back a little more, and although it pains me, I might add a new template with some additional indicator filter options based around them - but that's will not be free reign for the imdi junkies to come and score .
  • #228
  • Apr 2, 2014 8:24pm Apr 2, 2014 8:24pm
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
This is my trade both are in profit now. Am i Doing right hollowhead ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ Trade.png Size: 75 KB
Click to Enlarge Name: GU Trade.png Size: 62 KB
  • #229
  • Apr 2, 2014 11:45pm Apr 2, 2014 11:45pm
Quoting hollowhead
{quote} Here are the charts You should be able to see what I have used for length on the top left of each - I am generally using one phase to fit between MM levels - the trades that lost appear to be on the ones where I have used a shorter length. TF really doesn't matter. Once your abonacci phases are set it makes no difference whether you are looking at a 1m or 1w chart - price is price, a level is a level. AJ (156) The two back to back losses{image} AJ (312) The third trade {image} AU{image} EA{image} EG (open){image} EU{image} GC{image} GJ (Open){image}...

Hello hollowhead or other

First thanks for your system.

What will be the baseline for the different pairs you post?

AJ
AU
GJ
GC
GU
EA
EG
EU
UC

Regards
  • #230
  • Apr 3, 2014 1:19am Apr 3, 2014 1:19am
Quoting Ravelt
This is my trade both are in profit now. Am i Doing right hollowhead ? {image} {image}
Both look good to me.
  • #231
  • Apr 3, 2014 1:22am Apr 3, 2014 1:22am
Quoting howa61
{quote} Hello hollowhead or other First thanks for your system. What will be the baseline for the different pairs you post? AJ AU GJ GC GU EA EG EU UC Regards
I've updated the first post with most of what I have.

Steve

PS The instructions in the first post show you how to work them out for yourself.
  • #232
  • Apr 3, 2014 2:33am Apr 3, 2014 2:33am
Quoting hollowhead
{quote} I've updated the first post with most of what I have. Steve PS The instructions in the first post show you how to work them out for yourself.
WOW thank-you very much hollowhead.

Regards
  • #233
  • Apr 3, 2014 2:51am Apr 3, 2014 2:51am
Quoting hollowhead
{quote} I've updated the first post with most of what I have. Steve PS The instructions in the first post show you how to work them out for yourself.
hollowhead, my baseline for AU is 0.92773
  • #234
  • Apr 3, 2014 3:05am Apr 3, 2014 3:05am
Quoting sniperdebt
{quote} hollowhead, my baseline for AU is 0.92773
That's fine sniper - it won't make any difference to the levels. I just have a thing about lining the baselines witht the MM Major S/R pivot (dark blue line). But as long as the baseline is the same as one of MM levels and the length is a multiplication or division of 244, it doesn't really matter (I'm using 244).
  • #235
  • Apr 3, 2014 3:26am Apr 3, 2014 3:26am
NZDUSD is getting close for a SHORT, entry is 0.85153.

And does someone know the calculation for the Baseline?
  • #236
  • Apr 3, 2014 3:38am Apr 3, 2014 3:38am
Quoting fabje
And does someone know the calculation for the Baseline?
What do you mean?
  • #237
  • Edited 4:37pm Apr 3, 2014 3:38am | Edited 4:37pm
Quoting hollowhead
{quote} That's fine sniper - it won't make any difference to the levels. I just have a thing about lining the baselines witht the MM Major S/R pivot (dark blue line). But as long as the baseline is the same as one of MM levels and the length is a multiplication or division of 244, it doesn't really matter (I'm using 244).
i'm using 244 too. thanks for the prompt reply

ATM AU break out 76.4% and 50% level, going to touch 23.6% level soon

fabje,

NU baseline 0.83008, TP 0.84652/0.84338 but keep in mind 0.85xxx (strong support)

updates:
Seems to be at an interesting level of support @8500, maybe NFP will try bring it down...
  • #238
  • Apr 3, 2014 3:45pm Apr 3, 2014 3:45pm
Hey Guys this is just my first attempt to upload a screen shot. Lets see if it works.
Tom
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Apr. 03 15.28.png Size: 28 KB
  • #239
  • Apr 3, 2014 5:29pm Apr 3, 2014 5:29pm
Quoting tomthepoppop
Hey Guys this is just my first attempt to upload a screen shot. Lets see if it works. Tom {image}
Nice one Tom.
  • #240
  • Apr 3, 2014 5:36pm Apr 3, 2014 5:36pm
Quoting hollowhead
{quote} Nice one Tom.

Hi Steve... I have started reading through the thread... nice discovery using MM.. how are you finding your trades so far with this system? profitable? better than abonacci?

cheers

jay
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