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
All I know is I sold the precise highs in both October and December off my fib work and added the Sunday night before the MLK crash off of fibs. Of course I've had some losers as well BUT I produce a set of pivots each day FAR superior to any other s/r numbers I've seen in 25 years of daily trading. I know of at least one other person on ET who does similar work and his results mimic mine.
 
Quote from Pa(b)st Prime:

All I know is I sold the precise highs in both October and December off my fib work and added the Sunday night before the MLK crash off of fibs. Of course I've had some losers as well BUT I produce a set of pivots each day FAR superior to any other s/r numbers I've seen in 25 years of daily trading. I know of at least one other person on ET who does similar work and his results mimic mine.
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Yeah, but is it true that you must refrain from stepping on sidewalk cracks while in a position resulting from a Fib number? :D
 
Tums is a grobian, therefore he is the one with the severe brain impairment.
Quote from Thunderdog:

Thank you. Now please explain why you think it is "setting in" for me, while being mindful of my response to ron2368's post. I eagerly await your response for my edification.
:)
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Quote from crgarcia:

Fibonacci is just plain BS.
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You are indeed clueless.

Tons of 61.8% retracements recently in the SPX . . . the move down to 1235, the move up to 1291, the recent move down to 1264 before last Friday's explosive move up, etc.
 
Quote from Landis82:

You are indeed clueless.

Tons of 61.8% retracements recently in the SPX . . . the move down to 1235, the move up to 1291, the recent move down to 1264 before last Friday's explosive move up, etc.
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And YOU of course are the other person on ET I was refering to who get's it.......:)
 
Since the use of Fibonacci numbers or ratios in trading has no valid theoretical basis, it smacks of mysticism. Therefore, I wonder if there is any chanting involved, at least in its advanced application.
 
Quote from Thunderdog:

Since the use of Fibonacci numbers or ratios in trading has no valid theoretical basis, it smacks of mysticism. Therefore, I wonder if there is any chanting involved, at least in its advanced application.
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Wanna compare p/l's...........:p


(Dear punishing God, I say that with total humility and a lack of hubris!)
 
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