Fibonacci secrets

snooptrader · Oct 13, 2003

Quote from MadFrankie:

Personally i believe fibonacci is only of value, as ppl believe in it.Self fulfilling.Someone prove me wrong

Why does it matter WHY it works, if it works? Most trading methods and even profitable indicators work because they are self fulfilling. Buying at suppport, buying breaks, moving averages, stochs, patterns - many people are watching what you are watching and doing the same thing - thus, a self fulfilling prophecy.

MadFrankie · Oct 13, 2003

Quote from snooptrader:

Why does it matter WHY it works, if it works? Most trading methods and even profitable indicators work because they are self fulfilling. Buying at suppport, buying breaks, moving averages, stochs, patterns - many people are watching what you are watching and doing the same thing - thus, a self fulfilling prophecy.

Im fully aware of what your stating.What i am saying is there is no hocus pocus to fibonacci,contrary to what alot of people appear to believe.

Best regards.

WDGann · Oct 13, 2003

LOL...

This is funny!

This is important...

No, it's not that is more important...

This is...

That is...

This is...

That is...

...

...

Get some quantative proof, and a lot of people will stop laughing...

... that is... if you want them to stop laughing.

richk · Oct 13, 2003

Quote from Gene:

Anyone use this technique for trading?

Yes, it is part of my trading technique.
Using 38, 50, 62 % retracement levels...

Thunderdog · Oct 13, 2003

Fibonacci "secrets?" Please, please, please tell me you're joking.

maxpi · Oct 13, 2003

Fib can define the word "retracement" in a math style, that's all I do with it, I use other indicators for signals to enter.

traderkay · Oct 13, 2003

is this ripe yet to move to chit chat

Hubert · Oct 13, 2003

talking about this I get e mails from a lot of course

http://tinyurl.com/qqwy

heck we should see if we can get elitetrader to let us rate some of these like we do software and books

Good luck
Hubert

Lobster · Oct 13, 2003

Quote from inandlong:

But I think the real money makers after 1.46 are 1.60, 1.76, 1.93, 2.12, 2.33, 2.56...

Am I wrong?

It depends on which calculator you use. Yours seems to be the one the bank uses to calculate the interest they pay you, while mine was the one the bank uses to calculate the interest you owe them.