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
What are you thinking of talking here about something that actually works? Do you want it NOT to work any more? Recant. Say it was all a bad joke. And keep it to yourself next time. For all I know the next thing you discover and blab about might be one of MY edges.

Let me assure everyone most sincerely that he is full of shit, and that fib retracements and extensions do NOT noway nohow notime for nobody actually fucking WORK.
 
wow, mr jackson... did we have bit of a rough week in the markets? can i ask you a question, what is your purpose for being in this blog? im really quite confused. is it just to bash everyone? because i thought this was a blog for traders. if i can help someone with new ideas im all for it. and rest assured, i would never blab of your macd cross leading edge methodology. wouldnt want that to slip into the wrong hands and ruin that for you. take care now...:D
 
Quote from minitimer:

wow, mr jackson... did we have bit of a rough week in the markets? can i ask you a question, what is your purpose for being in this blog? im really quite confused. is it just to bash everyone? because i thought this was a blog for traders. if i can help someone with new ideas im all for it. and rest assured, i would never blab of your macd cross leading edge methodology. wouldnt want that to slip into the wrong hands and ruin that for you. take care now...:D
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Unless I miss my guess, I do believe our Mr. Jackson employed the use of sarcasm with his blistering tongue-in-cheek critique of the Fibonacci series.

Let's talk Lucas series; shall we? :D
 
Food for Thought if I may

Whether I believe in Fib number viability or not – is completely inconsequential and useless expenditure of my time


What I do believe is - other people believe in them, and use them on all different time frames to trade.


So as I trade I am always aware of fib number presence and on the lookout for an opportunity to exploit them

Take Care
 
Fibo-snatchy? You may as well be using tea leaves.

Fibonacci is garbage; so are MA, stochastics, macd, and other junk.

Indicators & oscillators have virtually NO predictive value.

I can't tell you how many amateur traders I know making no progress with their trading because they think their "system" combining MACD with Fibo or some other combination gives them an edge.

If you rely of Fibonacci to trade, I feel sorry for you.

Try drawing straight lines on your charts. It works better. WAKE UP! ADVANCE!
 
I find some (perhaps not all, but definitely some) Fibonacci numbers to be indispensible in my trading. Particularly "1" and "2"; I literally couldn't trade without them. Other Fibonacci numbers, I'm indifferent to. "377" ? "610" ? Who needs em. But "1" and "2" ?? Gotta have em, oh yeah.

As a reminder, here are the first two dozen Fibonacci numbers:

1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, 6765, 10946, 17711, 28657, 46368, 75025, 121393, 196418, 317811, 514229, 832040, 1346269, 2178309, 3524578, 5702887, 9227465, 14930352, 24157817, 39088169, 63245986
 
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The fibs are prevalent in nature. Since there are so many humans involved in the market it is thought that some of these natural growth progressions and diminishments are more likely to resemble fibs than random progressions and diminishments.

Its a statement of a tendency, not an absolute thing. Those that incorporate fibs into their S/R calculations are just benefiting from the tendency. It is not voodoo. There is an underlying physical principle.
 
Quote from minitimer:

oh wow lucas, impressed...:D
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Actually Lucas numbers are a crock and they're dangerous.

Édouard Lucas, for whom the series is named, died from a severe skin inflammation after a waiter dropped some crockery plates at a banquet Lucas attended and a fragment cut Lucas on the check (presumably of the facial variety).

Lucas died a few days later at the age of 49. (Ironically 49 is not a Lucas number, however it appears to have been Lucas's final number).
:D
 
i do agree they can be a bit dangerous. along with fibs. tends to make newby fib traders try to force trades and frontrun the market...
 
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