fibo experts — which fibo ?

[rcanfiel]

Quote from Thug_Life:

Do you not believe in Fibs at all? They happen every day all the time. That does not make them the key to free money, but the retracement levels are very real. imho, on an intraday basis at least, they are often best measured from the point where a big move began, often not the low of the day.

Sizable studies were performed by several entities to see if they had value. They had no better performance than other levels.

In short, they don't work. Beliefs have no value or place in profitable trading.

 

[Wallet]

Wallace,

I see this thread has been posted on several different boards. What conclusions have you made?

 

[Thug_Life]

Sizable studies were performed by several entities to see if they had value. They had no better performance than other levels.

In short, they don't work.



Leonardo of Pisa is not amused.

<img src=http://www.mathekiste.de/fibonacci/fibonacci.jpg \img>

 

[traderdave72]

Quote from rcanfiel:

Sizable studies were performed by several entities to see if they had value. They had no better performance than other levels.

In short, they don't work. Beliefs have no value or place in profitable trading.

Could you provide some actual proof of these studies? I would love to see them. I would have to argue that they do work. They may very well be and probably are a self-fulfilling prophecy, but who cares, if it makes money. Pesavento proved they work with the Gartley patterns. www.harmonictrader.com I provided some proof to what I state.

 

[TSOKAKIS]

The Fib statistics is VERY poor in real trading conditions.
See the
http://www.elitetrader.com/vb/showthread.php?s=&threadid=81457
The results leave NO room for further Fib thoughts.

 

[Thug_Life]

Whatever. The problem is in how you apply them, not that they don't work.

Do you dispute that the Fib numbers are found in nature in countless different settings? If not, then why should the ebb and flow of human crowd behavior be exempt?

 

[Thunderdog]

Quote from Thug_Life:

<img src=http://www.mathekiste.de/fibonacci/fibonacci.jpg \img>

I think the key to trading Fibonacci numbers successfully lies in the hat. You need the hat.

 

[Wallace]

Wallet: well, either people aren't interested in the questions, they don't know the answers
or know the answers but don't wish to disclose them
so there's no conclusions based on the replies

 

[nkhoi]

eye check, what do you see here

Quote from Wallace:

Wallet: well, either people aren't interested in the questions, they don't know the answers
or know the answers but don't wish to disclose them
so there's no conclusions based on the replies

how about, they leave the answer there but nobody bother to look

 

[dandxg]

Nkhoi-I am sure you can read your own chart, just like I can read mine, but to me, honestly it's so cluttered I can't make sense of it.

I understand the general idea, as I use fib, but there is alot going on that chart. Anyways nice of you post.