fib. expansion and retrace in forex
- Thread starter shopster
- Start date
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GM,
i have traded for 36 years.
my purpose here is to enlighten those who wish to learn that the market is all math and that patterns and setups do indeed repeat.
there has been the usual " retail noise " along the way in some of the posts and some disenchantment from the rank and file.
those who follow the fundamental crap and try to make some sense from it.
those who need a crutch / trading buddies to lean on and jump from indicator to the next one, do not get it.
those who are lost and will never find it.....
hand holding and spoon feeding is not my function.
the grail is between your ears.
ice in your veins, zero ego and no pulse as you perfect the method , helps.
i have used this " edge " to trade since 1982 to extract from all markets.
sp500 , oex options , indexes and equities....
it is global in its reach and works across all time frames.
i sat for 5 days with George lane in his late 60's and learned from the inventor of stochastics.
he was the master of the Sp500 futures and taught me how to read pure price action.
" price is the game.........."
figure that out and you get the keys to the bank.
as far as ROI is concerned, " the boss " and her bank card cannot keep ahead of my trading.
i want for nothing and have no debt.
in my case.......
a trust fund, some vencap and a few business startups to help others was required to get me to master trading level.
those who have $ flowing in one direction only never arrive at the end result.
having said that.....
we do require a selection of " fresh meat daily " to take the other side.
not taking life too seriously and laughing at your trading mistakes is " de rigueur. "
flat screen time is " inversely proportional " to your bottom line.
automate the trade hunting process plus the exit door by using a good coder to get you there.
keep it simple, because all markets are not that bright....
then you have arrived.
cheers,
shop.
i have traded for 36 years.
my purpose here is to enlighten those who wish to learn that the market is all math and that patterns and setups do indeed repeat.
there has been the usual " retail noise " along the way in some of the posts and some disenchantment from the rank and file.
those who follow the fundamental crap and try to make some sense from it.
those who need a crutch / trading buddies to lean on and jump from indicator to the next one, do not get it.
those who are lost and will never find it.....
hand holding and spoon feeding is not my function.
the grail is between your ears.
ice in your veins, zero ego and no pulse as you perfect the method , helps.
i have used this " edge " to trade since 1982 to extract from all markets.
sp500 , oex options , indexes and equities....
it is global in its reach and works across all time frames.
i sat for 5 days with George lane in his late 60's and learned from the inventor of stochastics.
he was the master of the Sp500 futures and taught me how to read pure price action.
" price is the game.........."
figure that out and you get the keys to the bank.
as far as ROI is concerned, " the boss " and her bank card cannot keep ahead of my trading.
i want for nothing and have no debt.
in my case.......
a trust fund, some vencap and a few business startups to help others was required to get me to master trading level.
those who have $ flowing in one direction only never arrive at the end result.
having said that.....
we do require a selection of " fresh meat daily " to take the other side.
not taking life too seriously and laughing at your trading mistakes is " de rigueur. "
flat screen time is " inversely proportional " to your bottom line.
automate the trade hunting process plus the exit door by using a good coder to get you there.
keep it simple, because all markets are not that bright....
then you have arrived.
cheers,
shop.
Thanks Shopster for this interesting thread and for sharing your own story with us.
I'm very intrigued, but I'm struggling with the way some fibs are drawn. I include 3 random examples, in which I noticed that the 0% and 100% are not drawn at the exact highs or lows.
Slight changes have a enormous effect on the extensions...
Is this due to "sloppy habits" or "the hand of the master"
Thanks and regards,
Onra
I'm very intrigued, but I'm struggling with the way some fibs are drawn. I include 3 random examples, in which I noticed that the 0% and 100% are not drawn at the exact highs or lows.
Slight changes have a enormous effect on the extensions...
Is this due to "sloppy habits" or "the hand of the master"
Thanks and regards,
Onra
drawing fibs needs to get you into the expansion number zones
nothing more.
do not dial it in too tight.
get close , that is all you need....
when you get to 4.2 or better the ssto and zero lag should start to roll.
i once caught the top tick of the year.
a 30 year T bond contract. i was now long , the market had other ideas........
my eyes and hands are not as sharp as they used to be
s
nothing more.
do not dial it in too tight.
get close , that is all you need....
when you get to 4.2 or better the ssto and zero lag should start to roll.
i once caught the top tick of the year.
a 30 year T bond contract. i was now long , the market had other ideas........
my eyes and hands are not as sharp as they used to be
s
Did this post change the way any of you look at trading?
ES
P.S. Thanx shop...This is an ET Hall of Fame post...or maybe its just me...
ES
P.S. Thanx shop...This is an ET Hall of Fame post...or maybe its just me...
Remember...he uses range bars.
ES
ES
In your trading rules it states "I trade to be on the winning side and to make a positive ROI on each and every trade". Period.
ES
ES
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