The only way to trade with fibonacci

[elit5314]

Quote from TraderZones:

sorry, but Fib Levels have been debunked. Clinging onto them is the stuff of amateurs.

http://www.cass.city.ac.uk/media/stories/resources/Magic_Numbers_in_the_Dow.pdf

i use the fibs everyday and see them working perfectly; so in my experience they work and i dont want to slap on my experience on someone else and say u better believe they work.

only with your own direct individual experience you can know what works.

everything else you read or hear about are somebody else' s convoluted expressions

cheers

 

[1a2b3cppp]

Quote from paperboy:

Actually it has been proven by scientists that human emotions follow Fib ratios.

I would love to see that study

 

[elit5314]

3-2-10 spy puts in a weak looking candle at 786; a sign of exhaustion

http://www.sierrachart.com/userimages/upload_2/1267598796_47_UploadImage.png

 

[elit5314]

3-2-10 q's last candle appear turning down at 786 on daily

http://www.sierrachart.com/userimages/upload_2/1267599000_87_UploadImage.png

 

[elit5314]

3-2-10 bidu wanting to take a break at 618.



http://www.sierrachart.com/userimages/upload_2/1267599240_0_UploadImage.png

 

[TraderZones]

Quote from elit5314:

i use the fibs everyday and see them working perfectly

It is painful to see ignorance in action...

 

[SomeYoungGuy]

Quote from konviction:

You dont know. It's pretty much impossible to know before hand. I use fibs in conjuction with price action....example

here is a chart of ande on a daily...before i decide to go on, would you tend to agree on the s/r levels i marked?

What about the rest of the times when price retraced nowhere near a fib line, price crashed right through a fib line, or flirted with a fib line then kept right on going?

How do you tell real time and with enough notice to make money?

If you claim to use fib lines to trade, and you are successful, then fib lines have nothing to do with it. You have some other unconscious skill that you are ignoring.

But I will be happy to believe in your tea leaves if you can show me how they make me money.

(see the red and blue circles on attached)

 

[elit5314]

Quote from TraderZones:

It is painful to see ignorance in action...

you can cure your pain by skipping and not reading my posts; unless you like to be in pain; lol;

fib is a tool; if you know how to use it, it will work for you and if you dont know how to use it you can say it doesnt work. and there lies the ignorance

 

[konviction]

Quote from SomeYoungGuy:

What about the rest of the times when price retraced nowhere near a fib line, price crashed right through a fib line, or flirted with a fib line then kept right on going?

How do you tell real time and with enough notice to make money?

If you claim to use fib lines to trade, and you are successful, then fib lines have nothing to do with it. You have some other unconscious skill that you are ignoring.

But I will be happy to believe in your tea leaves if you can show me how they make me money.

(see the red and blue circles on attached)

I'm at the College computer lab so I can't fully respond as I don't have my chart software here, but I can say from looking at your charts of support/resistance circles, you...in my opinion are making it slightly more complex than it needs to be. On my charts I marked major s/r points where the market made a nice move up or down...again this is rather subjective, but I dont care about little retracements...of course I dont know they are little retracements at first..i can only tell after the fact, but thats ok

I'll finish this Q in about 2hrs.

 

[taowave]

If I understand you correctly,you wait until a 61.8% retracement to buy your fitst lot,and add at the 50% and 38.2%%.If wrong,you liquidate at the the full retracement...And where do you sell at a profit?

If I am right how can you say you dont care and buy all of them??
Do you know in advance that price will retrace 61.8% and then trade up to the 50% and 38% levels??
Sounds to me like you certainly care,otherwise you would average down starting at the 38% retracement down to the 68%.

I would have to assume you are entering with an allocated size per level,and most likely if you are filled at all levels you are in at apx a 50% retracement...

You my friend are a closet Fibber !!!

Quote from 1a2b3cppp:
Here it is again for the people who somehow missed it the first time:

I buy at the 61.8% retracement.

I buy more at the 50% retracement.

I buy more at the 38.2% retracement.

I exit at 100%.

Stop loss is 0%.

There's no cherry picking "oh I happened to buy at 50% this time and 38.2% last time and I'm the magic profitable guru who knows ahead of time which lines will be valid this time." I don't care. Price retraces, I buy. At all of them.

Stay tuned for tomorrow. [/B]