ok dude who-has-never-been-on-a-trading-floor.
Fibs don't work
- Thread starter SunTrader
- Start date
I haven't huh?ok dude who-has-never-been-on-a-trading-floor.
So you "know" that too.
Bet you know I grew up in NYC, had a brother that worked at Goldman, I almost went to work for Drexel (thank my lucky stars that did work out), did work for O'Conner & Associates for a year and half. And prior to that at Bache, Halsey, Stuart. You knew all that, right?
You also knew I also was as a visitor to Citibank's 40 Wall St massive (at that time lol) computer room accompanying someone that later became a key Bush and recently Trump member Elaine Chao who then a Citibank International VP that I dealt with. Very few outsiders ever get into such a place, other than watching a documentary maybe.
What else do you know, besides not much.
You just luuuuve to assume.
you didn’t work on a trading floor and don’t have any idea how institutions trade. why are you mad at my statement of fact? I’m not stopping you from trading your way
Everytime a fibs trader tells you that it works ask them two very simple questions:
Why did you start your indicator at that point?
What makes that exact point the best place to start your calculations?
They fit the indicator to a chart to auto convince themselves that there is a range, a range that you can already see without the indicator.
Why did you start your indicator at that point?
What makes that exact point the best place to start your calculations?
They fit the indicator to a chart to auto convince themselves that there is a range, a range that you can already see without the indicator.
Fibs work in hindsight. lol
That is exactly it. Right, ask why did you start there? There is a reason.
But since you put it in those terms ... you'll have to find out for yourself. Or just go on believing as the rest of the sheeple do that fibs don't work because they tried and couldn't get them to work so of course they don't work for anyone else ever.
Your post works in both hindsight and foresight ... showing your ignorance. But you are good company. So there's that.
That makes two of us, only I'm the only one that will admit it to be no longer the case.
I'm not mad at your assumptions and ignorance.
So why is it you even posted in the topic? Oh that right to remind us again of your ignorance. Well you accomplished that.
Hello SunTrader,
Fibs "work" just fine to me because everyone think they work fine.
I just want to eat where ever everyone else is eating at so at the age of 64 I am not eating dog food with my dog.
I seriously give up on trying to knowing it all. I just want a little piece of the pie for a few hours a day.
it’s funny that you and others on this forum have this mystical view of institutions and use that as a basis for some of your “interesting” opinions and indicators. You can ask anyone else who has worked as a trader at a bank or asset manager lol. No one, or their algos, are using fibs to set prices.That makes two of us, only I'm the only one that will admit it to be no longer the case.
I'm not mad at your assumptions and ignorance.
So why is it you even posted in the topic? Oh that right to remind us again of your ignorance. Well you accomplished that.