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These things are simple, that's why I am not making a big deal about it. I even did not start any new thread to talk specifically about them, but I simply mention them whenever I have an opportunity to do this within a very simple FR setup that I proposed here some time ago. I believe that...

I played with FRs today, but not with 61.8. The 61.8 FR trick within the first 30 min bar was not possible today. My systems had their entries too high today because of the gap. One is out with 2 pts (or 4 pts if Fibbonacci enhaced- actual trade), another one is still struggling, avoided the 6...

ES, you use it correctly.

I already promised it others who asked me to do the same. There is another thread about it right now that deals with the same thing, but I will revisit my simplified version of 'Fibbonnaci for the poor man' in more detail. Probably this weekend.

True...

If you believe that TA does not work, it will NOT. If you believe it does, it MIGHT. But even better is to use it in such a way that it really works. For this you need some experience, discipline and patience. So it's not really TA per se that works. Trading is more complex than that because we...

But, I did. Well anyway, at least I believe that some people really do not concentrate on the right aspect of the problem which is the reward risk ratio. I have it 1.5 and most of my trades are winners. That's enough to make money. Tighter stop-losses may be good for some, but this has to be...

Well, with that I can also agree, my targets are 9 ES pts or MOC or I exit with a 6 ES pt loss. To get a good profit you also need to leave some room for it to develop. As long as your direction is right a 6 pt stop-loss is not going to hurt most of the time.

That's a pretty interesting observation. In fact, I keep my stop-losses pretty liberal, but I thought that I was an exception. I guess you are the only other guy on this board who adheres to this kind of thinking. No, I am not afraid that it will stop working. In fact, I have mentioned these...

Well, I would use 904.5, but that's a small difference which only shows that you can make money even if there are differences like that. I don't use 23.6%, I prefer the price to get closer to 38.2% and to show signs of reversal or being in some S/R area if possible.

I see that you are a physicist, just like myself, but most people here would probably want something more simplistic. In other words, should I go short or long and at what price. Can you make it so simple? After all physics is the most successful science when it comes to making predictions.

Tell me something I don't know yet. Two easy 4's today on Fib pullbacks. Don't talk so loud, the magic may stop working and what's even worse someone may start a thread 'Keeping Fibbonacci simple'. :D That has been my worst nightmare since the thread 'Keeping it simple' appeared on ET...:(

Yes, but not everything works for everyone so you still need to keep trying because you never know if something that others dislike will not work for you. Is not Don Miller's stuff a good example of that? It works for you, even if others find it imperfect, at best. Yet, it's good to know if you...

Actually, it's not so much in reverse. What you said is basically another way of putting what I mentioned here a few times before but in the context of the first 30 min bar. This is very simple anyway, so perhaps that's why it's so hard to believe it. In fact, it's better to stop here before it...

That's the basic idea behind the 61.8% pullback within the first 30 min bar but in reverse, meaning that if the 61.8% level holds you get another strong shot in the original direction, the direction opposite to the pullback direction. Works like magic even if it occurs rather infrequently. On...

I am glad that Fibonacci is finally getting some respect here, but be careful because you are taking the risk of being advised to consult a shrink... No pal, Fibonacci is not about simplicity, you are so wrong, dude...:D

Why 61.8%? You need to read a bit about Fibonacci series or the Golden Ratio (do a Google search for that) to understand why. I use 61.8 % FR to enter on a pullback within the first 30 min bar and then you get your initial stop-loss automatically which for ES is (1-0.618)*BAR LENGTH+0.25=...

Yes, good point. One of the best trades I made in OEX options took place when I did not watch the OEX chart at all but instead the TICK and TRIN or SOX charts. The chart itself can be very misleading, it's good to have a hint from internals or some other leading indicator as SOX.

I agree, if it works don't change it.

Except that tomorrow may be a big up day...:D Two of my systems are suggesting going long, but one of them may still flip its signal in the morning.