How to Reduce Stress If You’re a Fibonacci Trader – My Trading – January 14, 2024

I am a 100% pure Fibonacci trader. I use several Fibonacci tools to calculate swings on charts, but in this article I will cover Fibonacci retracements as an example.

Drawing a Fibonacci graph is very easy and takes 5 seconds. However, watching the price reach a level like 2.618 can be a bit stressful.

Some reasons for stress include:

In this chart you can see that I have plotted Pibo, but it takes a long time for the price to reach level 1. So in this case, it would be cumbersome and stressful if you kept looking at the chart and making trading decisions expecting the price to reach level 1.

Now you can see in this chart that we have plotted Fibonacci from high to low, but the price breaks through the high and it fails, so we need to remove this Fibonacci tool.

Now, in real markets, situations like this can happen hundreds of times every day. Constantly adding and removing fibo can be very stressful.

So I coded an alert system that allows me to add two alerts, one at the top and one at the bottom (i.e. level 1).

You can set these notifications by double-clicking on the chart.

To add an alert to a chart, simply double-click it.

To add a second notification to the chart, simply hold down the Shift key and double-click it. All you have to do is close your eyes, relax, do whatever you want to do, and wait for a notification when it’s time to do it.

For MT5 – > https://www.mql5.com/en/market/product/97761

For MT4 -> https://www.mql5.com/en/market/product/97767