Fibonacci Retracements

Originally posted by Sarasota


I'm curious, are the markets some of these places?????????
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Of course they are. (one of the places where fib isn't)

What does it mean when you way Fib is "everywhere"? Does it help describe the rate my fingernails grow at? Does it help describe the digestion of food compared to the time of day I ate? Does it help describe ratio of an erect penis to a non-erect? I could go on and on and on. What I am saying is that Fib is obviously NOT 'everywhere', as you claimed.
Now, of course you could go on an all out mission and probably find some kind of Fib relationship (it seems like a pretty 'flexible' tool - and I mean that sarcastically:D ) in all these things, but what would be the point?

It seems pretty crazy to talk about Fib ratios being present in the markets, since they don't occur all the time. Firstly, they are best discovered in hindsight, which doesn't help anyone except booksellers and seminar junkies. And secondly, the EXACT ratios like .618 occur so rarely it's just a fluke when they do. Also, that is some inflated sense of self importance to claim such dead-eye accuracy to be precise to .618.

Look, Fib ratios are fine - where they are present. But, like I said, to take them and run and use them to explain everything else in the world is completely ludicrous. What about 'pi'? That's another great ratio (with heaps more real world apps than Fib can dream of). Are we supposed to get all starry-eyed and use it to explain everything in the world too? Of course not.

Stevet - forecasting? Forecasting is pretty worthless, imo. Not only that, it takes your focus away from what really matters in making money. Still, some people have to play their games, so good luck pal.
 


Just a word of caution, you are exposing yourself to the folly of 'the well chosen example' with this offering.... i.e. the observation that any pattern or idea or system paramaters can be made to glove fit a chart or a market or a time period selected with the benefit of hindsight...thought i would say it in a nice way before Dan rips u a new one :p
 
Originally posted by daniel_m


Of course they are. (one of the places where fib isn't)

What does it mean when you way Fib is "everywhere"? Does it help describe the rate my fingernails grow at? Does it help describe the digestion of food compared to the time of day I ate? Does it help describe ratio of an erect penis to a non-erect? I could go on and on and on. What I am saying is that Fib is obviously NOT 'everywhere', as you claimed.
Now, of course you could go on an all out mission and probably find some kind of Fib relationship (it seems like a pretty 'flexible' tool - and I mean that sarcastically:D ) in all these things, but what would be the point?

It seems pretty crazy to talk about Fib ratios being present in the markets, since they don't occur all the time. Firstly, they are best discovered in hindsight, which doesn't help anyone except booksellers and seminar junkies. And secondly, the EXACT ratios like .618 occur so rarely it's just a fluke when they do. Also, that is some inflated sense of self importance to claim such dead-eye accuracy to be precise to .618.

Look, Fib ratios are fine - where they are present. But, like I said, to take them and run and use them to explain everything else in the world is completely ludicrous. What about 'pi'? That's another great ratio (with heaps more real world apps than Fib can dream of). Are we supposed to get all starry-eyed and use it to explain everything in the world too? Of course not.

Stevet - forecasting? Forecasting is pretty worthless, imo. Not only that, it takes your focus away from what really matters in making money. Still, some people have to play their games, so good luck pal.
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God you sound so foolish. Fibs aren't in the market, huh? At best discovered in hindsight? Are you f%#$ing blind? I have posted numerous charts which show you that finding a fib combo of .382 and .618 within a few ticks of each other will result in a bounce. I have posted charts for three days now, two of which were happening as I was posting them - not after the fact. The one I just posted shows a drop of over 6 points in the S&Ps, just where we would have anticipated a bounce. But fibs don't work at all, do they? I suppose I just got lucky, huh?

It happens every single day, and to deny it shows just how ignorant you truly are. :(

I never said fibs explain everything in the World. And yes, Pi is another number found in the markets. If you are confused, please let me clarify a bit. Fibs are constant and are found frequently in nature - AND IN THE MARKETS - is that now ok with you?

Fibs don't work. Forecasting doesn't work. You say it takes away from what really matters in making money. Well tell us old wise one, how in the Hell do you trade, and do you make any $$$?

Also, please refrain from talking about your flaccid vs. unflaccid member, the regulars here will think you are....um......well.... ah........ :eek:

Looking at your profile, we see you like to dance. Care to explain further, because I am the one who is now :confused:
 
Originally posted by darkhorse


Just a word of caution, you are exposing yourself to the folly of 'the well chosen example' with this offering.... i.e. the observation that any pattern or idea or system paramaters can be made to glove fit a chart or a market or a time period selected with the benefit of hindsight...thought i would say it in a nice way before Dan rips u a new one :p
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I sincerely respect your opinion, but the chart I posted WAS NOT in hindsight. The S&P has now dropped about 8 points from the fib combo. Remember, I am a trader, and I saw this setup, took the short trade, logged on a different computer so I could do a "screen capture" using a different charting program (draws more exact fib lines than Tradestation or Ensign - the programs I use real time), and then posted it to this site so others could see this setup as it was happening. IT WAS NOT AFTER THE FACT, nor was the one from yesterday. I think that post is on page 8 of this thread if you care to go back and look.

And if daniel m wants to rip me, that's fine, because I will debate him all day long on the subject. He sounds like a fool. I have received almost a dozen PMs from readers stating how ridiculous daniel m sounds, that they appreciate the fib charts and comments about them I post, etc. They also ask questions about them and I am only to happy to share my perspective.

Maybe I should just let daniel m dig his own grave, quit making comments and posting charts for the newbies to see.
 
FYI, I entered an S&P e-mini trade at 919.00 and got stopped out at 913.75, using a 1 1/2 point trailing stop as it approached my target.


These fib combo trades happen every single day.
 
Originally posted by Sarasota


I sincerely respect your opinion, but the chart I posted WAS NOT in hindsight. The S&P has now dropped about 8 points from the fib combo. Remember, I am a trader, and I saw this setup, took the short trade, logged on a different computer so I could do a "screen capture", and then posted it to this site so others could see this setup as it was happening. IT WAS NOT AFTER THE FACT, nor was the one from yesterday. I think that post is on page 8 or 9 of this thread if you care to go back and look.
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Credit where credit is due-

let the record state I spoke in haste and stand corrected.
 
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