POLL: Are Fibonacci numbers a worthless or expensive crutch when it comes to trading?

Are Fibonacci numbers a worthless or even expensive crutch when it comes to trading?

  • Yes

    Votes: 128 56.9%

  • No

    Votes: 97 43.1%
  • Total voters
    225
Quote from eagle:

Forget those complex E. Wave, Fib, etc. Back to basic, what Nicolas Darvas had found is still true. The attractive stocks continue to have the same characteristic.

If a tempestuous beauty were to jump on a table and do a wild dance, no one would be particularly astonished. That is the sort of characteristic behavior people have come to expect from her. But if a dignified matron were to suddenly do the same, this would be unusual and people would immediately say, "There is something strange here - something has happened."

A stock that continues to rise significantly after the open for two or more consecutive days under the circumstances of Bear Market seem to be unusual and therefore attractive.
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Great post. But, quickly, tell me! What is the dignified matron wearing? :D
 
Quote from danielc1:

I did not mean 'preordained' order, I mean 'order' in the here and now...
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But Fib numbers are predetermined. You know the specific numbers in advance. Presumably, then, you're waiting for price to reach them so that you can act immediately, rather than waiting for price to react to that level before taking your cue. Because if you are taking your cue after price has already reacted to the Fib number, then you are effectively ignoring the Fib number for all intents and purposes, and focusing on the market's action (as you should be, in my opinion). Acting immediately at the moment a Fib number is touched is akin to catching knives. And it is only if you are acting immediately that you are not effectively ignoring the Fib number. And so, danielc1, are you catching knives?
 
That I would invite all ET members to jump in the bar and find out together. :D

Quote from Thunderdog:

Great post. But, quickly, tell me! What is the dignified matron wearing? :D
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Quote from Thunderdog:

But Fib numbers are predetermined. You know the specific numbers in advance. Presumably, then, you're waiting for price to reach them so that you can act immediately, rather than waiting for price to react to that level before taking your cue. Because if you are taking your cue after price has already reacted to the Fib number, then you are effectively ignoring the Fib number for all intents and purposes, and focusing on the market's action (as you should be, in my opinion). Acting immediately at the moment a Fib number is touched is akin to catching knives. And it is only if you are acting immediately that you are not effectively ignoring the Fib number. And so, danielc1, are you catching knives?
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I see what you mean with 'catching knives'. This is the danger of all predetermined systems... May I give you an example? Can you give me an instrument or tickername that you are following? I will put up a chart with how I use fib and among other things to demonstrate that there is an order in the universe...
 
Forgive me, but I still don't see it. Besides, tinkering with overlay lines after the fact, and positioning them just so, is not a very convincing display of real-time applicability. Just giving you my opinion.
 
Quote from Thunderdog:

Forgive me, but I still don't see it. Besides, tinkering with overlay lines after the fact, and positioning them just so, is not a very convincing display of real-time applicability. Just giving you my opinion.
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Okay, no problems. The lines are in place before price action trough calculations, not on visual sight seeing. You will see this later on in to the day. Just extend the lines on the chart. You will see with your own eyes that price will move from and toward these lines.
 
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