Fibo Machine PRO is a new set and forget fibonacci indicator that has been launched. Fibonacci levels are used by pro traders in identifying the turning points in the market. You can download the Fibo Machine PRO indicator and try it on your demo account. Take a look at the following screenshot below!
As you can see in the above screenshot this indicator gives you the entry and exit levels. Depending on your style of trading, you can choose a safe profit target, a medium profit target or an aggressive profit target. Now this is what pro traders do. They combine fibonacci levels with candlestick patterns. This is what you should do. Combine candlestick patterns with this indicator and see if you get better results. You can also read this post on important candlestick patterns. This post contains 2 videos in detail important candlestick patterns like the engulfing pattern, the doji pattern, harami pattern etc. Just combine them with the fibonacci levels painted by this Fibo Machine PRO and it will give you better results.
Another thing that you should keep in mind is that try to catch a big move with a small stop loss like try to make 80 pips with a 20 pips stop loss. This gives you a reward to risk ratio of 4:1. When you enter into a trade try to go for a reward to risk ratio of at least 3:1. This will ensure that even if you lose one trade, you are still profitable. Focus on the above 2 tips and you will get good results. Now if you don’t get good results with Fibo Machine PRO, you can always ask for a refund.
Now if you can make 50-60 pips daily with a small stop loss of 20 pips, you can easily double your account in a month. Do it for 12 months consecutively and you have a big sum in your account. Just ensure that when you enter into a trade your stop loss is not more than 20 pips and you have a reward to risk ratio of at least 3:1. Candlestick patterns will help you in knowing when to enter into a trade with a small stop loss. As said above, when a candlestick pattern appears on a fibonacci level, it is a high probability signal.