Questions about Mikko's 3 beginner strategy. Need advice!
Nor
Posts: 1 ✭
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...
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...
Comments
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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/p1There was an error rendering this rich post.
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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.
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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.
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There was an error rendering this rich post.
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how much money investment would you start with?
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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
