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Aren't most traders "trend traders"? And don't most traders lose money? Making a statement like "trading with the trend works" is just as vague and pointless as saying "fibs are magic numbers."

by the way, this thread is a great example of forum psychology. - Threads with vague "methods" go on for dozens of pages. Look at the JH bullshit, or ProfLogic's ergodic thread, or jjrvat's, or Anek's threads, etc. Or the (other) fib threads with all the after-the-fact charts posted. "OMG...

I believe something is great when it works, not when gurus tell me it is great. If that were the case, I would believe SVT or SCT or whatever JH's method is called is good. lol @ the struggling trader saying someone else knows what they're talking about. No offence, I know you're working...

Vague and non-specific, and therefore useless It also implies that everything works for a finite amount of time before it stops working, which is also incorrect. Some things never work.

WHAT ARE YOU TLAKING ABOUT? FIB NUMBERS ARE THE MAGIC RATIOS BASED ON THE HARMONICS OF THE UNIVERSE (and therefore it makes perfect sense to apply them to trading!!!) Hush, you're giving away secrets.

Oh. I knew it was something like that. That's putting the 3 lines even close together than what I had. Close enough really. Trendlines are open to interpretation as to how exactly to draw them, but they're based on fact. Price went here, then here, connect them. Channels are just two...

I'm very new to options. Is what you're doing similiar to "tent trading"? http://www.elitetrader.com/vb/showthread.php?s=&threadid=184256&perpage=30&pagenumber=2 http://paintbarfactory.com/PBF-Tent-Trading.php

Not defending anyone, as I think most people on this forum are idiots and scammers, BUT, some SIM accounts do include commssions. Most do not. For example, OEC will, but you have to specifically tell them to add it to your account. But I recommend doing that, as it increases realism...

Only 1 reply? I thought ET LOVED magical fibonacci threads. I thought I would wake up this morning and this thread would be on page 2 or 3 (with 30 posts per page, not the ET default). I thought half of the replies would be about how I was wrong, 25% of them would be about how fib numbers...

Since fibs are voodoo and you have no way of knowing if price is going to retrace to the 33, 50 or 66 line (or somewhere else completely random, since fibs are just as good as completely random lines, or somewhere else entirely, since price movement is random), I propose the following method of...

Too busy with doublespeak and circular logic to actually bother recording live "trades." Of course, after the fact trades?! No problem!!!!

Yeah, that's exactly what they do. I'm not quite sure why.

I must have misread. When you say "on a monthly basis" do you mean "once a month?" I wish you luck and am rooting for you. I like reading journals and I was just hoping that you weren't going to abandon this one since I hadn't seen an update in a while. Cheers.

Update? I was searching for fibs and I found this thread. Maybe you're losing money cuz fibs are hocus pocus. Are there rules as to whether price will retrace to the 33, 50, or 66 lines? Or is it random and after the fact people say "haha, look, it retraced to the 33 line!" or whatever?

Your links don't work because you copied and pasted the text rather than copying the link. They contain "..." in the middle of them from where the text portion was abbreviated when someone posted them.

It's entirely possible that he put that up there to mislead people cuz he knew his pic was gonna be taken. I've heard similar claims made about other "successful" traders teaching methods that are specifically different from how they actually trade.

I'm gonna do some calculations and post back in this thread tomorrow to make sure I'm understanding this correctly.

Mods should edit JH's profile so that the signature in every post of his provides links to posts proving that he cannot trade and doesn't know what he's talking about.

Under what conditions does this system blow up?

What are the target profits when you're adding 1 contract each strike? Seems like it would eventually get to the point where the profit target is quite far away (like when you've got 8 contracts on and your BE is over 2 strikes away). I'm assuming you're adding them 1 contract per 5 points...