How to trade my Fibonacci retracement trading method
A lot of people ask me, “Dave, how do you trade the futures market so successfully?” To be honest, it’s a very simple methodology, but takes extreme patience and discipline. I will teach you the framework to be a successful trader. My simple Fibonacci Trading method can be summarized in 5 easy rules. Sign up for my 5 Day E-Mini Fibonacci Tutoring and my Live Trading Room and I’ll personally walk you through every step of it.
S&P 500 E-Mini contract Fibonacci trading methodology
My Fibonacci Trading Rules
- When price reaches the 50% level, fade it with a stop 1 – 3 points beyond the 61.8% level.
- When price reaches the -23.6% level, fade it with a 1 – 3 point stop.
- Only 2 things will cause you to draw a new fib; a close on a 15 minute candle beyond the 61.8% or the -23.6% level.
- A close of the target and you draw the new fib from the candle nearest to the previous 50% level to the high or low point depending on trend direction of the candle that closed the target.
- A close of the 61.8% level and you draw from the latest swing high or low point depending on trend direction to the low/high of the candle that closed the 61.8% level.
Does my Fibonacci methodology really work ? Watch this video of the $33 call on May 5th, 2011 for silver.
My great-grandpa Al was also a Fibonacci trader !
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