Questions about Mikko's 3 beginner strategy. Need advice!

Nor

Hi everyone!

I have a couple questions, how to draw "correctly" Fibonacci retracement in this strategy.

1) according from strategy, fibo must draw using last two zig zag peaks. How long I must hold
fibonacci ratios from theese peaks or I must redraw fibo later? Ok, I assume this strategy isn't
for trending markets

2) I also draw fibo ratios even I'm in tigth range market(nearly flat) or I must use previos highest and lowest point?

I attached 2 screenshot with exaples

P.S. I didn't use last zig zag peak , because it's where marked stopped on this friday and it may to countinue...

BryanMac

To be blunt Mikko was full of shit, that system is crap it has a good idea but it shows drawing fibos completely wrong.

Check out the following fro some insight on fibos

http://forum.binaryoptions.net/discussion/198/fibonacci-for-dummies/p1

damianpe

I also use the strategy, got at least 65%, with fibos or without. Still doing demos, still trying to improve. Added RSI8, works great. Not so full of shit after all.

poker hacker

could anyone plz suggest me a decent book written on strategies,indicators n technical analysis geared exclusively to binary options?i've some books but they cover technical analysis in general for options trading.but i m pretty sure due to shorter timeframe n strike price freedom indicators r selective in BO.plz help me,i need a solid foundation.

BryanMac

http://forum.binaryoptions.net/discussion/1261/contest-win-a-free-copy-of-trading-axis#latest

celinedale

how much money investment would you start with?

lotzofbotz

Imo start small with a demo account till you can prove yourself. Find a mentor like Bryan to teach you the fundamentals of trading and then go from there. Doing this profitably over time takes a good deal of work and experience. You are always learning/changing with the market, the key is you have a good foundation to change with