This is a trader question from the Fibonacci Trading Forum.

Bert says:
What is not working for me now?
Mental discipline of when to stay out of market and when to halt the trading. The patterns I was taught work there is no question but sometimes they don’t… So many times I’ll re-enter only to get stopped again. And of course once that happens I may hesitate on one that works. Blending the Higher Highs or Lower Lows and TRSI triggers is very helpful but I struggle with trusting a continuation of a trend.

Neal responds:

If you have confidence in your system, and your risk is within tolerance, it will be easier to stick with a trade, and to take the triggers.

Review your strategy, review the results. Check that your risk is acceptable, and whether your setups are reliable. Sure sometimes there will be losses, and some days it will be stressful. But over time you should come out ahead. With that knowledge, your profitable outcome, you should be able to trust the trend execute your plan.

-Neal (FOREX Fibonacci Trading)

This is a trader question from the Fibonacci Trading Forum.

Bert says:
What would make the biggest difference to my trading?
Being consistent, staying with trade to completion and minding the trend.

Neal responds:

That’s great, you know how to boost your profits! Make a solid trading plan and stick with it.

What if you can’t stick with your trading plan? Every time you break your trading rules, stop trading for the rest of the day. If that doesn’t help, stop trading for a week. That should give you some incentive to stay with your trading plan…

-Neal (FOREX Fibonacci Trading)

This is a trader question from the Fibonacci Trading Forum.

Bert says:
Trading smaller time-frames for a larger time-frame gives me the most difficulty. It sometimes works out for proper entry but real problem is I’ll keep watching the smaller TF and get lost in the squiggles of the market.

Neal responds:

Once you have your trade entry, and your stop-loss is in place do something else! Your success depends on executing your trading plan, not on entertaining yourself with the small market swings.

Your trading plan does not allow for fiddling with every twitch of the market.

Here are some suggestions..

Go for a walk, mow the lawn, ride your bike, do something productive, or look for another trade setup. The more trade setups you find, the more you can trade, so don’t get over-committed to just one position.. The more trades you have that conform to your trading plan, the better your result will be, the more you can profit.

-Neal (FOREX Fibonacci Trading)

This is a trader question from the Fibonacci Trading Forum.

Bert says:
I need to improve my commitment to higher time-frame trades. I would do better to avoid shorter time-frame trading.

Neal responds:
Ask yourself what is causing you to focus back on the lower time-frames? Sure the lower time-frames can be very helpful, they can give you clues to refine your entries and refine your exits and stop-losses.

The lower time-frames must be viewed in context of the overall trade. The lower time-frames should influence the way you consider a trade, but it is your main trading time-frame that rules your decisions.

If your setup is still in play, then you don’t have permission to exit. If your setup has not given you permission to enter the trade, the lower time-frame does not make any decisions for you.

Sometimes it helps to have a partial entry or exit based on a lower time-frame trigger. Only if your trading plan allows you to trigger based on the lower time-frame, should you allow that decision. If not, stick to your trading plan.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Bert says:
Overtrading, my self-discipline, I struggle with those the most.

Neal responds:
There can be many reasons for over-trading, so it could be beneficial to analyze the causes of this problem.

Think about your trading, when you are over-trading, what are the circumstances? Are you bored, do you need excitement? Are you pressured by your setups and triggers to enter often? Are your stop-losses too close so you are exiting and have to re-enter frequently? Are the trends weak so you have too much whipsaw? Are you trading lower time-fames, those micro-wiggles with excessive noise?

All of those reasons can have solutions. After carefully assessing the causes, you can begin to solve the problem.

-Neal (FibMaster’s Fibonacci Trading Course)

Here is a typical email question from a trader.

Dear Mr. Neal Hughes

Thank you very much for your video seminars.

Excellent course. I was aware of Fibonacci levels but the wonderful SK levels are new to me. The methods you explain are simple and awesome. I tried in different currency pairs in demo account and found excellent result. I keep practicing some more time with stop loss and money management as you guides.

If you have any advance training CDs, please let me know. Please also send me TRSI indicator to try with Metatrader 4 platform.

I also need one more advice from you. As per your knowledge & experience, please suggest me few names of Forex brokers who are clean and straight forward in their dealings.

Once again thank you very much Mr. Neal Hughes for your straight forward and open hearted teaching.

Regards

S.N. Suren.
 

Neal’s response;

Suren,

Thank you for your kind words. Yours is a common theme, many traders rave about my seminars, and their email pleases me greatly.

You have all 5 of my recorded seminars now. I may make some more in the future and will let you know, but for now you have them all.

There are some live seminars/webinars that may interest you. I only have these a classes few times a year, and there are a couple of seats left, see here;
http://www.fibmarkets.com/training-workshops/

Trade carefully as you move from a demo to a real account, manage your risk to ensure that you will survive the learning process.

The TRSI for MT4 is on the way to you in a separate email. Please keep this indicator confidential, it is proprietary.

As for brokers.. At this time I am not comfortable making a recommendation. All brokers have their down-side and most have their positive aspects too. Unfortunately there is no perfect broker!

Best wishes,
-Neal.

Here is an email question from a member of the Fibonacci Trading Forum at Daily Forex Charts .com

I need to learn more about Fibonacci levels, how to apply and use them. Where to enter, where to exit.
 

Neal’s response;

OK, learning the basics of Fibonacci Retracements, Fibonacci Expansions, etc are really easy, FibMaster’s Fibonacci Trading Videos will solve that problem for you.

After that, it comes down to skill and experience. You definitely need to use TRSI with Fibonacci, that will make a big difference. Join our FibMaster Fibonacci Forum webinars, that will help a lot!

-Neal Hughes “FibMaster”

Here is an email question from a member of the Fibonacci Trading Forum at Daily Forex Charts .com

Identifying the trend direction is my problem. It is easy to see a trend in the past, but in real-time it is much more difficult.
 

Neal’s response;

Trend is either up or down, or some times there is no trend. There should be no doubt, and you should be able to identify trend in just a few seconds. If you have not already been to the TRSI webinar, you really must! Trend is not difficult or complicated at all. The difficulty is what to do about the trend.

-Neal Hughes “FibMaster”

Here is an email question from a member of Daily Forex Charts .com

My struggle is self discipline. This I think is coz i don’t know where to start my trading day and what to look for. I also think fear plays a big part. (fear of losing money again and again.)
 

Neal’s response;

Fear is bad for trading. Fear will cause you to make regrettable decisions, and it can get in the way of your ability to learn as well. I encourage you to look for the source of that fear. Are you risking too much per trade?

Until you have confidence in your trading, you should be taking very small risks. That is one way to reduce the fear.

-Neal Hughes “FibMaster”

The following is an extract from an original post I made on the TraderZine Forums.

On the subject of stop-losses…
 

Novice traders will place a mechanical stop-loss that does not take into account market action, momentum, volatility. A Fibonacci based stop-loss takes all of those into account. Also, a novice trader will blindly cling to hope when the trade is not working out, wishing that the stop-loss will not be reached.
 

It doesn’t take much skill to realize that a trade is not working out. Watching price action and minor (lower-time-frame) Fibonacci levels, you can tell whether momentum is going against you. Why wait for your stop to be hit? You can exit well before the Fibonacci stop loss is hit, and you can re-enter if you like.
 

As traders improve their loss management, the Fibonacci stop-loss will be merely a “disaster-stop”, but the actual losses will be much smaller, because the Fibonacci stop-loss is not hit all that often.
 

-Neal Hughes “FibMaster”